​By a Staff Reporter: Weekly Technical view of Nifty Spot for 27-09-2021 & onwards

‌New Peak, New Horizon – Higher High Formation.

‌Sudden correction – then further rise & further new high. This trend is continuing.

‌Last Week Nifty closing was ~ 17850.

‌Day to Day basis up +30 points but Week to Week basis up +268 points or rallied 1.52%.

‌Weekly High 17947 & Weekly Low 17326, so week to week basis move almost 600 points.

‌Nifty formed a long bullish candlestick formation on the weekly charts which has overlapped previous bull candle & supported by 5 weeks simple moving average 17370 that acted as a Life line Support maintaining for last 8 weeks from 16000 to 18000 range.

‌1st 2 days of the last Week - Monday & Tuesday initially Nifty corrected as a continuation of last Friday’s [17th Sep] correction, maximum low printed at 17326. Market bounced from that bottom of Tuesday which was very close of Bear’s expected support 17300-250 and then in last 4 trading sessions 17326 to 17947 – 600 points move. Post FOMC meet outcome & erasing concern of Evergrande positivity, buying by DII and massive run in real estate stocks were the key drivers to move to break last Friday’s top 17792 and to reach this Friday’s new all time peak 17947.

‌After last Thursday Weekly Clearing day’s intraday basis very big surging almost 276 points, Friday Nifty opened with almost another 100 points Gap – 2nd consecutive Gap up around 17900 & new high printed at 17947.60 but this initial Teji not sustained, erasing the Gap through out the day maintained negative bias with narrow range of 100 points consolidation in between 17940 to 17820.

‌Indebted property developer China's Evergrande Group could be in news in the coming week as its another interest payment on bond due on Wednesday. Our market is also slightly impacted by World wide negative sentiment based on this Debt Default case.

‌India VIX, jumped to almost 18 mark before settling at 16.92 from 15.23. On week-on-week basis up 11.09%. VIX above 15 is in rising tendency.

‌Technically, Weekly RSI 80.80 almost lying at the historical highest level. These are all very short term basis rising concern.

‌This Year Nifty rose 3300 points – so we are in Extreme Bull run & that may continue but as a short term or a very short term basis for valuation adjustment & RSI managing purpose profit taking is evitable.

‌Current Range :- 17950 on the upside & 17750 on the down side.

‌But in coming week the market could see some consolidation and volatility with resistance at 18000 and the support at 17600 levels.

‌On the down side :- If Global uncertainty & volatility persists & cues showing weakness then failing to cross the barrier 17927/947 it may slip below 17799/17771 & move back to 17710—17663/17637 & very major 17560/500.

‌On the upside :- If Global cues showing strength then above 17880 other Resistance levels are 17950+ & then as a break out 17970/18000/18055. Major at 18085-18150 in uncharted territory.

‌The option data is largely indicating that the Nifty could see in the range of 17600-18000 levels in the coming week.

Source : Eureka

The cyclone gulab is coming in full of speed. The Odisha government has evacuated as many as 3,409 people and shifted them to 204 shelter homes ahead of Cyclone Gulab which is expected to make landfall by Sunday night in the state.

​By a Staff Reporter: Disaster swells in the skies of Bengal in the face of puja. Cyclone Gulab is approaching without handling the impact of a depression. The met office said Gulab may hit near Kalingapatnam between Gopalpur in Odisha and Visakhapatnam in Andhra Pradesh on Sunday afternoon. However, the Met department has relieved the people of Bengal and said that cyclone Gulab will not have direct impact on the state. But it will rain due to the disaster.

​By a Staff Reporter: 

 The Taliban on Sunday welcomed the US recent measure of allowing the flow of humanitarian assistance to Afghanistan. "The Ministry of Foreign Affairs of the Islamic Emirate of Afghanistan (IEA) welcomes the recent decision by US Treasury Department allowing US government agencies along with international and non-governmental organizations and banks to facilitate the flow of food and medicine to the IEA," said the ministry's spokesman Abdul Qahar Balkhi said in a statement.

By a Staff Reporter: Former Team India cricketer Parthiv Patel's father passed away on Sunday. Patel, who played for Team India and represented a handful of Indian Premier League (IPL) franchises in his professional career informed about the death of his father Ajaybhai Bipinchandra Patel on Twitter. The entire cricket fraternity is in a state of shock ever since the former Indian wicketkeeper-batsman shared the tragic news of his father's demise.