Relitrade Group

Relitrade Group

3/1/2025, 6:01:58 AM

*WEEKLY EQUITY REPORT* *TECHNICAL OUTLOOK*  Benchmark Index traded on a negative note during the previous week and closed with 2.94% cut at 22,125 level. Banking index slightly outperformed the benchmark index as it closed with 1.30% cut at 48,345 level  Among the Nifty constituents, SHRIRAMFIN and HDFCBANK closed with 5.50% and 2.36% gains while TECHM and ULTRACEMCO were the laggards as they closed with 9.80% and 9.22% cut respectively. Among the Bank nifty constituents, INDUSINDBK underperformed the Banking index as it closed with 5.14% cut  Among Sectors, IT and MEDIA were the laggards as they closed with 7.96% and 7.07% cut. Broader market underperformed the benchmark index as both MIDCAP and SMALLCAP index closed with 5.09% and 5.99% cut respectively  Volatility index (India VIX) closed with 4.27% cut at 13.91 level  Globally, Equity markets traded volatile and closed on a positive note during the week as both US market (DJIA) and European market (DAX) closed with 0.95% and 1.18% gains respectively *POSITIONAL MARKET OUTLOOK*  The benchmark index opened gap-down and closed with a strong bearish candlestick formation on the weekly timeframe, indicating a growing negative sentiment. Moving forward, the index is expected to continue trading with this negative sentiment and any bounce within the range of 22,450 to 22,650 should be considered a shorting opportunity. On the downside, the index is likely to test levels between 21,800 and 21,500 in the coming week. Immediate strong resistance is set at 22,700; if the price sustains above this level, it could reverse the negative sentiment and potentially drive the index higher to the 23,000 – 23,300 levels. In the meantime, traders should focus on shorting opportunities within the 22,450 to 22,650 range, with a strict stop loss placed at 22,700 on the upside and expect a downside towards 21,800 – 21,500 levels.  The banking index closed with a bearish candlestick pattern, showing a slightly higher upper wick compared to the lower wick from the previous week. This indicates selling pressure at higher levels. Looking ahead, the key resistance level for the index is at 49,400. Any rebound within the range of 48,600 to 49,000 should be considered a shorting opportunity, with a strict stop-loss set at 49,400. The immediate support level for the index is at 47,840. If this level is breached, it may increase selling pressure, potentially leading to further declines toward the 47,400 to 47,000 range. *MARKET OUTLOOK FOR THE NEXT WEEK WITH PIVOT LEVELS*  The benchmark index is expected to continue its weakness in the upcoming week and any pullback towards 22,450 – 22,650 should be taken as a shorting opportunity targeting lower support at 21,800 – 21,500 levels.  The banking index is expected to move in tandem with the benchmark index. Momentum may increase if it stays below the immediate support level of 47,840. For the upcoming week, immediate support is set at the 47,840 to 47,400 range, while resistance is positioned at 48,600 and 49,000. Disclaimer: The above view is for educational purposes only. Trading carries significant risks and may not be suitable for all investors. Please conduct due diligence before investing, as past performance does not guarantee future results.

Relitrade Group

2/28/2025, 11:20:44 AM

*BREAKING RECORDS!* We're thrilled to announce an *ALL-TIME HIGH turnover* of ₹181 CRORES in BSE Stock Derivatives - 13th March Expiry (2nd Thursday expiry)!

Relitrade Group

2/28/2025, 5:36:11 AM

*Nifty (CMP): 22,252 (Pathfinder for Nifty)* According to earlier predictions, the index has surpassed the 22,400 level and is currently finding support at the lower band of the falling channel (indicated in red). It is highly likely that the index will find support in the range of 22,300 to 22,200 and experience a bounce from this area. Moving forward, if the index manages to sustain itself above 22,650, it is expected to rise toward the upper band of the channel formation, marked by the red horizontal line, which is near the 23,200 to 23,300 range. However, if weakness persists from the current level and the index breaks the immediate support at 22,100, it could drop toward the levels of 21,500 to 21,400 in the coming days. This current price point is an important area to monitor.