Nifty Prediction Tomorrow, 14 Oct: BULLS Cautious! Small positive candle on chart - Support, resistance levels

Nifty Prediction Tomorrow By Experts, 14 October: Indian stock market indices Sensex and Nifty 50 closed in the red due to selling in IT and FMCG shares. A weak trend in global markets also added to the negative sentiment. The NSE Nifty index declined 58 points or 0.23 per cent to end at 25,227.35. The BSE Sensex fell 173.77 points or 0.21 per cent to settle at 82,327.05, snapping its two-day rally.

On the sectoral front, Nifty FMCG index fell 0.90 per cent to emerge as the top loser, followed by Nifty IT which slipped 0.43 per cent. The Nifty Bank index, however, closed in the green at 56,625, up only 15.25 points or 0.027 per cent. In the broader market, Nifty Midcap 100 gained 0.11 per cent whereas Nifty Smallcap 100 lost 0.17 per cent.

India VIX, the fear gauge index, spiked 8.95 per cent to settle at 11.01.

Foreign Institutional Investors (FIIs) sold equities worth Rs 240 crore while DIIs purchases shares of Rs 2333 crore, according to exchange data.

Nifty Prediction Tomorrow By Experts

Ajit Mishra, SVP, Research, Religare Broking, said that tariff escalation concerns, particularly after Donald Trump's statement on the possibility of imposing an additional 100 per cent on China, has triggered risk aversion across global market. This, in turn, has dampened sentiment in the domestic market.

Vinod Nair, Head of Research, Geojit Investments, said that markets started the week on a cautious note as the ongoing US government shutdown and US-China trade tensions spooked the investors.

Nifty Support And Resistance Tomorrow Levels

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking, said that Nifty has defend and closed above its immediate support at the 25,200. The overall trend remains bullish as long as Nifty trades above 25,050.

"Nifty may attempt to move towards 25,400 gradually in the near term," the market expert said.

If Nifty gives a breakout above 25,300, then it will trigger a short covering rally. "Nifty's overall setup looks positive and a sustained move above 25,300 will confirm a follow-up rally," the market expert said.

Nandish Shah - Deputy Vice President, HDFC Securities, said that Nifty's short-term trend remains firmly bullish as it is placed above the 5-DEMA, 10-DEMA, and 20-DEMA. The immediate support for the Nifty is at the psychological level of 25,000, while an immediate resistance is placed near 25400.

Nifty 50 Chart Candle, Pattern

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said that Nifty has formed a small positive candle on daily chart with gap down opening. Technically, this market action indicates a choppy movement or minor downward correction in the market.

"Larger degree higher tops and bottoms is intact on the daily/weekly chart and the recent upmove could be in line with the formation of new higher top of the sequence," the market expert said.

"The short-term trend of Nifty is choppy, but the underlying medium-term trend remains positive. Any further weakness from here could find support around 25000 levels before bouncing back from the lows. Immediate resistance for Nifty is placed at 25500," the market expert added.

Nifty OI Data, RSI

Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, said that India VIX signals an increased uncertainty in the market. In the derivatives segment, the highest CALL open interest was recorded at Nifty's 25,300 strike while the maximum PUT open interest was seen at 25,200.

"The current positioning indicates strong resistance for Nifty near 25,300. A sustained close above this level is necessary to maintain bullish momentum in the near term," the market expert added.

Praveen Dwarakanath, Vice President of Hedged.in, said that the option's writer's data suggest high volume call writing above 25300 and put writers below 25150 levels. The ADX DI+ and the ADX DI- line are moving in tandem, indicating no clear trend in the index.

The RSI average line crossed the RSI line towards the end of the day, hinting at a possible move on the upside from the closing price.

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