Nifty Outlook - 07 September 2022

Nifty Outlook - 07 September 2022
Nifty Outlook - 07 September 2022

Market Outlook
by Ruchit Jain Last Updated: Mar 13, 2023 - 05:17 pm 16.3k Views

Nifty started the day on a positive note but it witnessed resistance around last Tuesday’s high and gave up the gains to end on a flat note.


Nifty Today:


Post last week’s volatility, the indices have been trading within a narrow range which seems to be a time-wise corrective phase. There’s a lot of stock specific momentum which is providing good trading opportunities. Certain cues such as the Rising Dollar Index and bearish FII’s positions in the index futures segment do not support a run-up move for the markets in the near term. Hence, until there’s change in the data, we may not see any directional move in the index. Traders are advised to focus on stock specific trading opportunities for time-being and avoid aggressive index trades. In options segment, open interest addition is seen in 17800 call which would be seen as a near term hurdle while 17500 is the support as per the data. Thus, a breakout beyond this range would only lead to a directional move and till then, consolidation in the index could continue.


Data indicates market may not see a run-up move

Data indicates market may not see a run-up move


The intraday supports In Nifty for the coming session are placed around 17573 and 17491 while resistances will be seen around 17750 and 17845.


Nifty & Bank Nifty Levels:


Nifty Levels

Bank Nifty Levels

Support 1



Support 2



Resistance 1



Resistance 2



How do you rate this blog?

Fill in your details below:

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Ruchit Jain is Lead Research Analyst at 5paisa. He has a vast experience of 14 years in this field and is proficient in Technical and Derivatives Research. He has completed his CMT (U.S.A.) and has done Masters in the field of Finance at Mumbai University.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number