For the market this week was a highly volatile and event base. Government officials came twice this week with the announcement to breach the five trillion economies. In the weekly edition, we analyzing whole week price action and preparing for the next week on a technical basis.
From the last week closing, Nifty index, Niftybank, and Sensex this week closed with the gain of 203, 520 and 650 points respectively. On the week candles this week the Nifty index open 10995.45 made high of 11141.70 low 10757.85 and closed at 11032.20. Niftybank index opened at 27651.55 and traded in between 28273.95 to 26868.35 and settled at 27476.80. Sensex opened at 37485.92 and stayed highly volatile in the range of 37718.88 to 36102.35 settled at 36701.16.
For the coming week, 10975 will the level of trade decision. If the Nifty index will sustain below 10975 then it can fall again towards 10800 to 10600. If the Nifty index will hold above 11000 then it can go up to the next resistance of 11150 to 11200.
Upside resistance(weekly):- 11150, 11200, 11360.
Downside support(weekly):- 10900, 10800, 10590.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| TVSSRICHAK | Dividend – Rs. – 40.0000 | 03 Sep 2019 | —————- |
| INDIACEM | Dividend – Rs. – 0.8000 | 04 Sep 2019 | —————- |
| FINCABLES | Final Dividend – Rs. – 4.5000 | 05 Sep 2019 | —————- |
| ITDC | Dividend – Rs. – 2.1000 | 05 Sep 2019 | —————- |
| JAYBARMARU | Dividend – Rs. – 2.5000 | 05 Sep 2019 | —————- |
| DBL | Final Dividend – Rs. – 1.0000 | 06 Sep 2019 | —————- |
| PANAMAPET | Final Dividend – Rs. – 1.2000 | 06 Sep 2019 | —————- |
| PSPPROJECT | Final Dividend – Rs. – 5.0000 | 06 Sep 2019 | —————- |
will the level of trade decision. If the Nifty index will sustain below 10975 then it can fall again towards 10800 to 10600. If the Nifty index will hold above 11000 then it can go up to the next resistance of 11150 to 11200.
As in the chart above, the Nifty index last week closed below its uptrend line. From the chart it can be seen that the Nifty index is trading in the range of 11181 to 10780. The Nifty index is consolidating and range bound and looks weak. Technically, the market will be weak and volatile and will give various opportunities to trade.
Our view is to stay cautious and trade carefully. The market will be highly volatile and can give any side movement.
Nifty index’s trading range for the next week 03-09-19 to 06-09-19
Upside resistance(weekly):- 11150, 11200, 11360.
Downside support(weekly):- 10900, 10800, 10590.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| TVSSRICHAK | Dividend – Rs. – 40.0000 | 03 Sep 2019 | |
| INDIACEM | Dividend – Rs. – 0.8000 | 04 Sep 2019 | |
| FINCABLES | Final Dividend – Rs. – 4.5000 | 05 Sep 2019 | |
| ITDC | Dividend – Rs. – 2.1000 | 05 Sep 2019 | |
| JAYBARMARU | Dividend – Rs. – 2.5000 | 05 Sep 2019 | |
| DBL | Final Dividend – Rs. – 1.0000 | 06 Sep 2019 | |
| PANAMAPET | Final Dividend – Rs. – 1.2000 | 06 Sep 2019 | |
| PSPPROJECT | Final Dividend – Rs. – 5.0000 | 06 Sep 2019 |
