Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Event-Driven

<ul>
<li>7 weeks up in a row and very overbought, the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> could pullback from its highs this week and/or the next.</li>
<li>A pullback to the 21008-20542 support area could be an occasion to enter LONG, profitable if the index rebounds from there and continues to rally into January.</li>
<li>The potential pullback appears to be a short-lived retracement down, based on MRM pattern readings. </li>
</ul>


7 weeks up in a row and very overbought, the NIFTY Index could pullback from its highs this week and/or the next.
A pullback to the 21008-20542 support area could be an occasion to enter LONG, profitable if the index rebounds from there and continues to rally into January.
The potential pullback appears to be a short-lived retracement down, based on MRM pattern readings. 


EQD | NIFTY WEEKLY Pullback: Where to Re-Enter LONG?

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> closed the last 2 weeks up (CC=+2), reversing from an oversold condition. This week the index started going up again, but it's not going anywhere...</li>
<li>The index barely crossed the Q1 resistance at 19334, but if closes this week up, the WEEKLY CC=+3 condition will be an "OVERBOUGHT" signal, a pullback could start.</li>
<li>Going SHORT is probably not worth it, we don't see a large pullback coming, it's probably better to simply hedge your positions.</li>
</ul>


The NIFTY Index closed the last 2 weeks up (CC=+2), reversing from an oversold condition. This week the index started going up again, but it's not going anywhere...
The index barely crossed the Q1 resistance at 19334, but if closes this week up, the WEEKLY CC=+3 condition will be an "OVERBOUGHT" signal, a pullback could start.
Going SHORT is probably not worth it, we don't see a large pullback coming, it's probably better to simply hedge your positions.


EQD | Is It Time for a NIFTY Index Pullback?

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> last week closed down (CC=-1) and it's moving towards the Q2/median support at 19154.</li>
<li>The Index is not as oversold WEEKLY and MONTHLY as some of its other peers in the APAC group and is expected to rebound this week or the next.</li>
<li>Suggested support prices to go LONG are found in the 19154 to 18682 price area, the rebound should unfold in November and could last the entire month.</li>
</ul>


The NIFTY Index last week closed down (CC=-1) and it's moving towards the Q2/median support at 19154.
The Index is not as oversold WEEKLY and MONTHLY as some of its other peers in the APAC group and is expected to rebound this week or the next.
Suggested support prices to go LONG are found in the 19154 to 18682 price area, the rebound should unfold in November and could last the entire month.


EQD | The NIFTY Could Find WEEKLY Support Soon and Bounce

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY 50 Index</a> closed last week up at 19751.05, 2nd week up, in synch with the S&amp;P 500 INDEX WEEKLY bounce.</li>
<li>The index has not moved up much from a price perspective, weak bounce. Resistance levels must be monitored: if the index rallies this week it could pull back next week.</li>
<li>The trade orientation is to go SHORT once the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY</a> reaches Q2/Q3 OVERBOUGHT resistance levels in the 20167-20230 price area, this week. SHORT Trade at Close is also valid.</li>
</ul>


The NIFTY 50 Index closed last week up at 19751.05, 2nd week up, in synch with the S&amp;P 500 INDEX WEEKLY bounce.
The index has not moved up much from a price perspective, weak bounce. Resistance levels must be monitored: if the index rallies this week it could pull back next week.
The trade orientation is to go SHORT once the NIFTY reaches Q2/Q3 OVERBOUGHT resistance levels in the 20167-20230 price area, this week. SHORT Trade at Close is also valid.


EQD | NIFTY WEEKLY Weak Bounce, Ready to Fall Next Week?

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> closed up 3 weeks in a row, then fell on Monday, but current pattern looks bullish according to MRM models, we expect a modest correction (if any).</li>
<li>Usually (69% of the times) this pattern brings a pullback that does not last for more than 1 week, then the following week the index closes up.</li>
<li>Broadly speaking buy-the-dips support for this week is found between 20050 and 19900. If the correction becomes multi-week, it can go much lower, we will re-assess in that case. </li>
</ul>


The NIFTY Index closed up 3 weeks in a row, then fell on Monday, but current pattern looks bullish according to MRM models, we expect a modest correction (if any).
Usually (69% of the times) this pattern brings a pullback that does not last for more than 1 week, then the following week the index closes up.
Broadly speaking buy-the-dips support for this week is found between 20050 and 19900. If the correction becomes multi-week, it can go much lower, we will re-assess in that case. 


EQD | NIFTY Index New WEEKLY Supports Analysis for LONG Trades

India

The NIFTY 50 index is National Stock Exchange of India's benchmark stock market index for Indian equity market. Nifty is owned and managed by India Index Services and Products (IISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited.

NIFTY Index (NIFTY INDEX)

EQD | NIFTY WEEKLY Pullback: Where to Re-Enter LONG?

The NIFTY Index is overbought and may pullback soon from its highs, providing a new buying opportunity before a potential rally in January.

Nico Rosti

EQD | Is It Time for a NIFTY Index Pullback?

The NIFTY Index has rebounded from oversold levels but it's not going anywhere. It may pullback this week or the next. Shorting may not be...

Nico Rosti

EQD | The NIFTY Could Find WEEKLY Support Soon and Bounce

The NIFTY Index is down for a second week, and moving towards Q2/median support at 19154. It's expected to rebound soon: suggested support prices...

Nico Rosti

EQD | NIFTY WEEKLY Weak Bounce, Ready to Fall Next Week?

The NIFTY 50 Index closed higher last week, but resistance levels should be monitored as a potential pullback could occur the week after this, if...

Nico Rosti

EQD | NIFTY Index New WEEKLY Supports Analysis for LONG Trades

The NIFTY Index fell on Monday, after 3 weeks up, but MRM models indicates the current pattern is bullish: expect a modest, 1-week correction (if...

Nico Rosti

EQD | NIFTY WEEKLY Pullback: Where to Re-Enter LONG?

​The NIFTY Index is overbought and may pullback soon from its highs, providing a new buying opportunity before a potential rally in January.

Nico Rosti

EQD | Is It Time for a NIFTY Index Pullback?

​The NIFTY Index has rebounded from oversold levels but it's not going anywhere. It may pullback this week or the next. Shorting may not be...

Nico Rosti

EQD | The NIFTY Could Find WEEKLY Support Soon and Bounce

​The NIFTY Index is down for a second week, and moving towards Q2/median support at 19154. It's expected to rebound soon: suggested support prices...

Nico Rosti

EQD | NIFTY WEEKLY Weak Bounce, Ready to Fall Next Week?

​The NIFTY 50 Index closed higher last week, but resistance levels should be monitored as a potential pullback could occur the week after this, if...

Nico Rosti

EQD | NIFTY Index New WEEKLY Supports Analysis for LONG Trades

​The NIFTY Index fell on Monday, after 3 weeks up, but MRM models indicates the current pattern is bullish: expect a modest, 1-week correction (if...

Nico Rosti

The NIFTY Index is overbought and may pullback soon from its highs, providing a new buying opportunity before a potential rally in January.

The NIFTY Index has rebounded from oversold levels but it's not going anywhere. It may pullback this week or the next. Shorting may not be...

The NIFTY Index is down for a second week, and moving towards Q2/median support at 19154. It's expected to rebound soon: suggested support prices...

The NIFTY 50 Index closed higher last week, but resistance levels should be monitored as a potential pullback could occur the week after this, if...

The NIFTY Index fell on Monday, after 3 weeks up, but MRM models indicates the current pattern is bullish: expect a modest, 1-week correction (if...