Nifty forms a shooting star as false breakout traps the bulls on the upside and ended down with marginal gains. A shooting star is a reversal pattern which is characterized as a small body with an upper shadow twice the range of body that indicates the weakness at higher levels and a possible impending reversal.

With Cheers of Budget that brought relief to a large base of honest taxpayers followed by Rate cut decision of RBI; Nifty managed to breach much important 10970 - 11000 mark though it was the profit booking at higher levels and the confluence of resistance levels placed above 11100. A Doji star followed by a falling window on a daily scale has seriously put some dent on the charged bulls.

Nifty declines more than a percent as the range trade continues among the slew of economic and global events that can give fuel to volatility. A bloodbath in Media Stocks and Auto stocks while selling pressure in real estate space, Midcap, PSU saw a cut of more than 1% to 3%. Global markets were also muted after the last few weeks as profit booking was seen with leading indices such as DJIA, S&P500, and FTSE witnessing profit booking.

The week started off on a positive note with the assumption of a possible beginning of a trend but muted volatility and key resistances were seen holding their importance as we consolidated for a 6th consecutive week.

Oil prices have entered a bear market. OPEC members are meeting in early December to decide about oil production cuts and this would be important for the direction of crude oil. With lower oil and strengthening currency, Indian markets can expect strong support if there is a decline in major indices during next week. Indian market will also be looking for GDP data.

Nifty ends down making a bearish engulfing pattern on the weekly chart on Thursday indicating a bearish bias in short term. Nifty shredded its previous two weeks of gains and ended below 10550. Despite a fall in crude oil, appreciation in rupee, the jitters were seen in investors as Nifty struggled around 10700 marks.

Nifty managed to close the week with gains at 10680 up by 105 Points from previous week's close. Current Week saw a total gain of 230 Points from Lows of 10460. We had three positive sessions in last five days.

Market has been inching up towards higher levels trying to touch the 50 Day and 200 Day Moving average coinciding at 10774 and 10767 levels. Upcoming week shall be very crucial as bulls must close Nifty above these widely tracked Moving averages. We will have to see if the current bounce back from lows of 10030 levels is a retest of Previous swing top at 10700 Levels or another opportunity for bears to gain control. Historically, in last 10 years, November closing has been negative 7 out of 10 times.

Indian Markets staged a smart recovery as global cues were positive. As NIFTY and BSE Sensex are in positive zone now, traders can expect markets to remain positive in the coming week. Even if there is a small decline, there could be buying at lower levels. On the positive side, Indian currency also recovered. Forex experts feel that the worst could be over for the Indian currency and we can expect further rally in coming months.

Nifty posted biggest weekly gains since 2016 as Nifty rebounds almost 4.8% to close above 10500 marks. Nifty took an important support of 100 SMA on the weekly chart and rebound was accompanied with a drop in Volatility Index, a measure of fear and buying across was board was visible as Blue-chips rebounded along with Small-cap and Midcap.

Indian stock markets recovered smartly during the last two trading sessions of October. The massive intraday movements of benchmark indices led to panic for traders and investors. Indian markets were mimicking the trend in the global markets but Indian market is additionally troubled by liquidity issues. SBI Chairman said that the issues caused by IL&FS to financial sector would return to normal situations within two weeks.

Indian companies have so far reported strong quarterly results. Markets have witnessed stock specific action with companies declaring strong results witnessing sharp pullback in stock valuations.

Indian Stock Markets witnessed sell-off at higher levels and markets closed nearly one percent lower on Friday. The sell-off led to lower stock valuations after the recent pullback in the markets. The markets will see stock specific action as quarterly results will be announced by companies in the coming weeks. Epic Research has shared the following viewpoints about market direction in coming week.

Bears Engulf on the streets as Bulls were being onslaught at higher levels of 10700 - 10680. The crash and Sell-off was amid multiple factors that were being discounted at one point of time from stock-specific quarterly earnings to FOMC Meeting. A lot was there for investors to be nervous about and that resulted in a sharp sell-off with a rise in volatility.

Indian stock market recovered smartly on Tuesday with BSE Sensex convincingly above 35,000. NSE Nifty closed slightly lower than 10,600 but market breadth remained positive. Many mid-cap companies have recovered during the last three trading sessions.

Indian markets were also supported by decline in USD compared to Indian currency. The recent decline in Crude Oil has also helped Indian currency. This year, Indian currency has been the worst performer among emerging market currencies.

Mid-cap stocks have recovered ground during the last few trading sessions. Many stocks were available at deep discount compared to levels witnessed few weeks back.

After massive decline in the U.S. stock markets on Wednesday due to trade-war worries and rising interest rates, markets across Asia opened with major decline. Indian markets opened nearly 3 percent lower and at one time BSE Sensex declined more than 1,000 points. Commenting on the strong movement in Indian stocks, Mr. Rahul Sharma, Sr. Technical Research Analyst, Equity99 said that Indian markets could see volatility in near term.

Indian Markets have been buoyant during the week, helped by strength in the global markets. Indian maA Fresh new all-time in benchmark indices with Nifty hitting 10283 while Sensex breached 37K mark to hit 37368.62. Backed by buying in broader indices, positive global cues, and strong rollover numbers indices managed to close near the day’s high. Heavyweights lead the rally again while sectorial indices with higher weight like Pvt. banks, Energy, FMCG, and Metals were shining 1% - 2.5%.

Nifty ends the week on flat basis making a Doji pattern as indecisiveness near all-time highs mounted on the back of mixed global cues. Profit booking was seen and consolidation in a small range of 10930 to 11080 was observed.

The week for Nifty was sideways due to mixed cues from global markets as despite positive momentum in leading indices we have seen some profit booking due to higher inflation numbers. This also pointed to concerns of another rate hike by the RBI in its August meet. The Trade war concerns further mounted as a threat of it escalating further between US and China may push commodity prices higher. This would lead to higher pricing of commodities such as Crude. No confidence motion in the parliament, higher inflation numbers also weighed on investors.

Nifty ends positively for the third consecutive week on the back of positive global cues but upside remained capped as profit booking was seen with Trade war concerns and US federal rate hike. Bank Nifty lags while defensive sectors shine on the back of value hunting.

Indian stock markets witnessed volatile session on Tuesday as the election results pointed towards hung assembly in Karnataka. Markets were trading strong during the morning session as BJP maintained lead against its opponents. However, the market slipped as chances of BJP government in the state reduced due to post-poll alliance between Congress and JDS.

Indian stock market closed higher on Monday despite weakness in the U.S. market and other major Asian stock exchanges. Indian markets have been moving with global indices but due to fears of trade war between the U.S. and China, Dow Jones has remained highly volatile during the last two weeks. Indian markets are now looking at quarterly results as the next trigger. As investors shrug off the U.S. and China trade war issue, local factors will be important to watch for Indian stocks.

Indian stock markets registered impressive gains as the global stock markets improved last week and Indian market was lagging behind. Indian stocks opened strong on Monday and selling pressure was witnessed at higher levels. However, towards the end of the trading session, markets registered strong gains and BSE Sensex closed with gains over 600 points. NSE Nifty closed above 10,400. Market analysts consider 10,300 as an important support level for Nifty and the market crossed this level during the early session.

Indian market faced massive selling during the week and majority of panic in the local market was due to global cues. Indian stocks ended the week lower and NSE Nifty dropped below crucial support level. Indian Public Sector Banks spoiled the sentiment as continued selling in some of major banking counters led to decline in benchmarks. Banks are suffering from major crisis after bank guarantee scam by Nirav Modi and Gitanjali Gems.

During the week, U.S. President Donald Trump announced tariffs on steel and aluminum imports. The tariffs were condemned by majority of world leaders but President Trump continued with his plan to announce tariffs. After the announcement, Dow Jones Industrial Average still managed to close with minor loss on Thursday.

Indian stock market remained range-bound during the past week even as stocks managed to recover quite smartly across the globe. Indian market also remained low as public sector banks remained on investor’s selling list. PNB suffered the most during the recent banking scam involving Nirav Modi and Gitanjali Gems.

Dow Jones Industrial Average staged a smart recovery over the week. While the FED meeting led to decline in Dow Jones, the U.S. markets recovered a day after Federal Reserve meeting. Dow Jones looks strong at the moment and with minor correction that started in February, markets are looking forward to gain further in upcoming weeks.

Indian Stocks remained subdued even as global markets recovered smartly. The banking sector turned the sentiment negative. During most of the trading sessions, stocks witnessed gains but by the end of the session, majority of gains were wiped out. Selling pressure was usually witnessed at higher levels.

Below is market view and outlook by SAMCO Securities....

Market crawled up during the week but gave up the gains by the close of the week, inspite of positive global sentiments, principally due to home grown PSU banking mess being denuded by Punjab National Bank. Generally such mess comes out during bottoming cycle, which PSU banks are passing through. Worst seems to have been discounted in the PSU banks but positive triggers are awaited.

Indian stock market declined last week despite strong recovery in the U.S. markets. Indian investors continued offloading their holding at higher levels, leading to selling pressure on majority of stocks. While blue-chip companies declined less compared to mid-caps, there were select stocks that managed to recover from their recent lows. If the momentum in the U.S. market continues, Indian stocks should see recovery.

Public Sector Banks suffered after a fraud at PNB was reported last week. PNB lost ground as investors dumped the stock. Other stocks in banking sector also suffered as some of the banks reported higher NPA and slippages in the quarterly results.

Epic Research team has offered its view for the Indian markets below...

Indian markets witnessed extreme volatility as the Dow Jones Industrial Average faced sharp decline after touching all-time high during first week of February. As the U.S. markets declined, Indian stocks also witnessed selling pressure with market dropping by nearly 1,000 points in a single trading session. However, as Dow Jones recovered in the second trading session after decline, Indian stocks jumped back to cover up some of the losses.

Dow Jones declined on Thursday again, sending shockwaves across the globe. Markets in Europe and Emerging markets witnessed decline during the last trading session. Dow Jones recovered some of the losses during Friday trading but volatility has resulted in panic selling in select stocks.