This week the market was highly volatile and uncertain. The market was closed in negative this week and many times traders trapped. As we analyzing whole week price action and preparing for the next week. However, this week Sensex lost -231 points and the Nifty Index and Niftybank lost -218, -1656 points respectively.
The Nifty index opened higher this week at 11094 and traded in between 11146.90 to 10637.15 settled at 10829.35. Niftybank opened at 28331.25 and stay highly volatile in between 28468.90 to 26560.60. The Sensex made a low of 36888.49 and closed at 37350.33 where the open and high was the same as 37755.16 this week. The whole scenario of the market seems that the volatility will continue in the coming days.
As per our technical view, 10872 will be the decisive level of the Nifty index for next week. If the Nifty index will break and sustain above 10872 then it will take the market upside till 10200. If it will trade below 10800 then more downside level we can see in the coming days.
The Nifty index broke its uptrend line and closed below of this as above in the chart. The Nifty index is trading below its resistance of 10181 and took price support near 10600. As the Nifty Index is closed below its uptrend line and 100 moving averages. Indicators like MACD and RSI showing negative momentum and Stochastic RSI is hurdling below 20. Technically, the outlook of the Nifty index is not looking good. As the market is highly volatile so be cautious and stay updated because the Government can make some announcement next week as they announced this week.
Our view on the Nifty index is to stay cautious and trade carefully. Due to the high volatility market looks uncertain.
Nifty index’s trading range for the next week 26-08-19 to 30-08-19
Upside resistance(weekly):- 10900, 11100, 11380.
Downside support(weekly):- 10800, 10595, 10360.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| VBL | Interim Dividend – Rs. – 2.5000 | 26 Aug 2019 | 27 Aug 2019 |
| AARTIIND | Final Dividend – Rs. – 7.0000 | 27 Aug 2019 | 28 Aug 2019 |
| BRIGADE | Bonus issue 1:2 | 28 Aug 2019 | 29 Aug 2019 |
| KRBL | Final Dividend – Rs. – 2.5000 | 28 Aug 2019 | ————- |
| LUXIND | Final Dividend – Rs. – 3.5000 | 28 Aug 2019 | ————– |
| BBL | Dividend – Rs. – 12.5000 | 29 Aug 2019 | ————- |
| EXCELCROP | Amalgamation | 29 Aug 2019 | 31 Aug 2019 |
| MGL | Final Dividend – Rs. – 10.5000 | 29 Aug 2019 | ————- |
| JINDALSAW | Dividend – Rs. – 2.0000 | 29 Aug 2019 | ————- |
| SRIPIPES | Dividend – Rs. – 6.0000 | 29 Aug 2019 | ————- |
