Indian Stock Market: Nifty and Bank Nifty Technical Analysis 11th to 15th March


Indian stock market ended marginally lower on last Friday, snapped four days raising streak. The market was positive throughout the week, Sensex and Nifty gained 1.6 percent whereas Bank Nifty rose by 2.5 percent during the week. Nifty small and mid-cap 100 indexes were shown good strength last week and moved up 3.9 and 2.3 percent respectively during the week.

Global cues were not supportive in the last two trading session of the week. Heavy sell-off was seen after the European Central Bank (ECB) slashed its forecast for economic growth and inflation in the 19-country eurozone. ECB has lowered down the growth rate 1.1 percent from an earlier forecast for 1.7 percent. Due to the fall on Crude price Indian rupee also gained 1 percent against the dollar during the week


Top Nifty 50 Stocks Gainers and Losers during the Week







Nifty 50 Stocks-Top 5 Gainers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Eicher Motors 21871.05 19948.65 1922.40 9.64 32,236.70-18,800.00
H P C L 249.85 232.70 17.15 7.37 385.50-163.00
NTPC 152.20 143.00 9.20 6.43 180.00-128.00
B P C L 367.35 346.05 21.30 6.16 468.40-238.55
ITC 292.00 278.20 13.80 4.96 322.95-252.50












Nifty 50 Stocks-Top 5 Losers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Wipro 257.70 281.78 -24.08 -8.55 291.71-190.13
Zee Entertainment 455.10 486.35 -31.25 -6.43 609.75-288.30
HCL Technologies 1009.05 1052.60 -43.55 -4.14 1,125.05-880.05
Infosys 712.35 741.90 -29.55 -3.98 772.25-551.00
Tech Mahindra 811.35 831.80 -20.45 -2.46 840.00-603.00






Events that can Influence the Indian Stock Market Next Week



Next week’s economic calendar which can influence the Indian stock market is as follows- on Tuesday, February months CPI and IIP data will be released after market hours. Current Account deficit data will be released on Wednesday after the market at 5.30 pm. Thursday, WPI data will be declared at 12 pm during market hours and on Friday Balance of Trade and Foreign Exchange data would be released after the market hours.    

You may also like to read: Should you follow the global market like Dow Jones, Sgx Nifty etc to trade in India?


Nifty and Bank Nifty Future Technical Analysis for the Week



Nifty Technical Chart 11th March
Nifty Technical Chart 11th -15thMarch


Nifty Future Weekly Outlook - OHLC-(10859.90/11129.70/10843.05/11076.05)


Nifty Future Primary Trend: Sideways – Real Time Volatility of 9.8178% (Range of 152 Points)


Nifty Future Range Bound Trend: All Up moves initiates Profit Booking (Sale) @ 11167 whereas all Down moves initiate Short Covering (Buy) @ 10985
If Nifty Future moves above 11112 then you should Buy with 1st Target of 11220 during the day or any point during the week by Trailing the Stop Loss from 10980- 11050- 11090- 11160- 11230- 11270 FOR the Target of 11275-11330-11397
If Nifty Future moves below 11040 then you should Sell with 1st Target of 10935 during the day or any point during the week by Trailing the Stop Loss from 11175- 11100- 11060- 10990- 10925- 10880 FOR the Target of 10880-10825-10757
Bank Nifty Technical Chart 11th March
Bank Nifty Technical Chart 11th-15th March


Bank Nifty Future Weekly Outlook - OHLC-(27053.25/27920.00/27053.25/27883.15)


Bank Nifty Future Primary Trend: Bias Up - Real-Time Volatility of 13.8815% (Range of 536 Points)


Bank Nifty Future Range Bound Trend: All up moves Initiates Profit Booking (Sale) @ 28150, whereas all Down moves Initiate Short  Covering (Buy) @ 27615
If Bank Nifty Future moves above 27985 then you should Buy with 1st Target of 28318 during the day or any point during the week by Trailing the Stop Loss from 27610- 27815- 27940- 28140- 28350- 28475 FOR the Target of 28485- 28650- 28855
If Bank Nifty Future moves below 27780 then you should Sell with 1st Target of 27450 during the day or any point during the week by Trailing the Stop Loss from 28175- 27955- 27830- 27625- 27425- 27290 FOR the Target of 27285-27120-26915


Conclusion:



The technical analysis of Nifty and Bank Nifty chart is looking sideways and up for the next week. The concern of the global economic slowdown is mounting, the issue can make the Indian stock market volatile for the next week. The falling crude price and appreciation in the Indian rupee against the dollar can be positive for the market. The traders should also keep an eye on any development in geopolitical Indo- Pak issue and the US and China trade talks.



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Finogyan Team

Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan is not SEBI registered Advisors and advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.




Indian Stock Market: Nifty and Bank Nifty Technical Analysis 11th to 15th March Indian Stock Market: Nifty and Bank Nifty Technical Analysis 11th to 15th March Reviewed by Finogyan on March 10, 2019 Rating: 5

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