Angel Broking Pvt Ltd
Published on 21/07/2017 11:02:02 AM

Nifty Bank Outlook - (24213)

The Nifty Bank index opened higher yesterday and traded in a narrow range to end the session with gains of 0.25 percent over its previous session's close.

As we had mentioned in our earlier reports, the ongoing upmove in the Nifty Bank index is led by stock specific momentum rather than a broad participation. Yesterday, we witnessed similar stock specific momentum within the banking space. The index could continue with this momentum but is likely to face resistance between 24400-24500. Thus, we are expecting limited upside in the index in near term and hence, traders should exit from long positions in the mentioned resistance zone. Intraday and short-term traders should continue to focus on stock specific moves in current market scenario. The intraday supports for the Nifty Bank index are placed in the range of 24070 - 24000 whereas resistance is seen in the range of 24400-24500.

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Angel Broking Pvt Ltd
Published on 21/07/2017 11:01:23 AM

Sensex (31904) / Nifty (9873)

Last four day’s price action replicates a tug of war between both the counterparties. Wednesday’s smart recovery was followed by yet another positive opening, which was very much on cards. However, as expected, once again we witnessed our benchmark index (Nifty) struggling in the zone of 9910 – 9930. As a result, a gradual correction throughout the day led to a close below the 9900 mark.

It seems that markets have slipped into a consolidation mode and hence, has now created a trading range of 120 – 130 points for the index. However, having said that the way individual stocks are outperforming is certainly not unnoticeable. Considering the placement of daily ‘RSISmoothened’, we would stick to our cautious stance on the market and would advise avoiding index specific long positions. On the higher side, 9910 – 9930 remains to be a stiff hurdle; whereas on the flipside, 9860 – 9810 would be seen as intraday supports for the forthcoming session.

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Enrich Commodities India Pvt.Ltd
Published on 21/07/2017 9:42:51 AM

Technical outlook

Pattern analysis shows a strong bear candle has formed on the daily candlestick charts. But it couldn’t close previous day’s low. Candle pattern is Dark cloud cover Bearish pattern where prices acted like it will continue upwards but then reversed. We predict a day of market consolidation. Global markets were very flat as well. Volatility was very high as both Nifty and Bank Nifty as they kept moving in a very well defined range. Bank Nifty was more volatile due to weekly options expiry, while supports will come in at nifty spot at 9,840 and 9750, and major resistance will be at 9900,9940, The market is overbought and the lead indicators remain in the overbought territory.

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Enrich Commodities India Pvt.Ltd
Published on 21/07/2017 9:42:17 AM

NIFTY 

Global market has negatively close in early trade. SGX NIFTY marginally high 9896, nifty index is expected to open flat.

Yesterday Nifty index closed at 9873.30 down by 26.30pts, to again hurdle 9900 level for investors to book some profits at higher levels. Buyers and sellers are fighting at the current level. As soon as the market crosses and closes above 9900 level, it will witness bounce towards 9945-10000 mark.

The biggest gainers of the session on the NIFTY50 were AXIS Bank Ltd, which rose 3.81% or 19.80 points to trade at 540.00 at the close. Grasim Industries Ltd added 2.14% or 22.50 points to end at 1072.95 and Oil And Natural Gas Corporation Ltd was up 1.75% or 2.85 points to 165.85 in late trade.

Biggest losers included Tata Steel Ltd , which lost 2.45% or 14.00 points to trade at 557.20 in late trade. Bharti Infratel Ltd declined 2.18% or 9.05 points to end at 406.10 and Aurobindo Pharma Ltd. shed 2.00% or 15.35 points to 750.50.

The top performers on the BSE Sensex 30 were AXIS Bank Ltd. which rose 3.87% to 540.30, Oil And Natural Gas Corporation Ltd which was up 1.75% to settle at 165.90 and HDFC Bank Ltd which gained 0.92% to close at 1708.15.

The worst performers were Tata Steel Ltd which was down 2.64% to 555.90 in late trade, NTPC Ltd which lost 1.22% to settle at 165.30 and Infosys Ltd which was down 1.11% to 969.00 at the close

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GEPL Capital
Published on 21/07/2017 9:36:12 AM

Key Highlights:

Profit booking have seen at Higher Levels. NIFTY Closes a shade short of the 9900 mark .….

* The NIFTY opened @ 9920.20, a GAP-UP of around 20 points. The BULLS were in full flow but seemed to be bit relaxed and that seem to pull the carpet from below it. With the OPEN entrenched at the HIGH, the NIFTY drifted down to 9850 without much an effort. The NIFTY was up & kicking once again post this drift with the push up coming to at par by 2:15 PM. Once again, closing below 9900, yet slightly in negative territory, the NIFTY closed little changed @ 9873.30, DOWN by 26.30 points or 0.27%.

* The broader indices astonishingly enough continued with their underperformance. While the NIFTY MID100 FREE closed DOWN by 0.29% to close @ 18291.50; the NIFTY SML100 FREE closed UP by around 0.29% to close @ 7711.95. The broader move stood clearly balanced with 868 advances to 850 declines. The INDIA VIX moved UP in tandem as the market corrected a bit to close around the 11.31 mark.

* The sectoral & thematic indices were a MIXED pack. On the BULL side NIFTY FIN SERVICE & NIFTY REALTY, moved UP by close to a half percent, while NIFTY PSU BANK & NIFTY METAL pegged on the losing side.

* The market have moved back close to the 9900, after skipping a heart-beat to test the 9800 mark. The level is well above the pre-defined SUPPLY Zone around the 9640-9720 and as such still remains in good shape over the intermediate horizon. However the momentum in the current cycle seems to have faded away. The resistance now remains entrenched at the extrapolated extensions at the all time HIGH @ around 9930 followed by 10200 levels. Although a bit of correction is certainly WELCOME here, it seems market has it’s different thought process. The sentimental five digit 10000 mark seems to be in contention. On the lower side till the time that NIFTY doesn’t breach below the SUPPORT @ 9640-9720, the BULLS would be in action, though now in a stock specific way

SEBI Registration number is INH000000081.
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Mehta Equities
Published on 21/07/2017 9:09:48 AM

Stocks in action for the day: RIL, Wipro, BalajiTele, BajajAuto, GMR, JPAss, InDiGo, FuCons, RBLBk, Mercator, InoxWind.
INR/1USD: 64.42
SGX Nifty: 9894(-1)

 

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Enrich Commodities India Pvt.Ltd
Published on 20/07/2017 10:06:10 AM

Technical outlook:

Pattern analysis shows It a strong bull candle on the daily candlestick charts. A strong bull candle suggesting buyer to control on the market candle closed on days high, We also expect some volatility in morning session. while supports will come in at nifty spot 9,840 and 9750, and major resistance 9900,9940, The market is overbought and the lead indicators remain in the overbought territory. We advise traders to avoid long higher levels, remain stock-specific and continue to protect profits at higher levels vigilantly as we chase the momentum.

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Enrich Commodities India Pvt.Ltd
Published on 20/07/2017 10:05:38 AM

NIFTY MORNING OUTLOOK

Which is perfectly normal for a bull market sentiment Market traders focus on 5-Digit magical figure 10000* either on Monday or prior to that. After a long time, FII’s net figure in Cash market has also turned positive. Volatility will continue to rise as days’ progress.

Global market as positive vibe in early trade SGX NIFTY as now 9920, nifty index expected to open flat.

On yesterday Nifty index closed 9899 rose 72pts, the momentum will strong Nifty break 9900 above.

The biggest gainers of the session on the Nifty50 were Aurobindo Pharma Ltd., which rose 4.30% or 31.55 points to trade at 765.85 at the close. Bharti AirtelLtd. added 3.17% or 12.95 points to end at 421.25 and Hindalco Industries Ltd. was up 2.92% or 6.05 points to 213.45 in late trade.

Biggest losers included UltraTech Cement Ltd, which lost 2.89% or 125.00 points to trade at 4205.85 in late trade. Grasim Industries Ltd declined 1.87% or 20.05 points to end at 1050.00 and ACC Ltd shed 1.42% or 24.90 points to 1734.60.

The top performers on the BSE Sensex 30 were Bharti Airtel Ltd which rose 3.21% to 421.35, Coal India Ltd which was up 2.66% to settle at 255.05 and ITC Ltd which gained 2.42% to close at 291.50.

The worst performers were Infosys Ltd which was down 0.56% to 979.90 in late trade, Hero MotoCorp Ltd which lost 0.49% to settle at 3766.90 and Hindustan Unilever Ltd. which was down 0.46% to 1152.90 at the close

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Angel Broking Pvt Ltd
Published on 20/07/2017 9:47:10 AM

Nifty Bank Outlook - (24153)

The Nifty Bank index opened on a positive note yesterday and traded with a positive bias throughout the session to end the day with gains of 0.64 percent over its previous session's close.

The positive momentum in the private sector banking stock indicates a probability of this momentum to continue. However, the major resistance for the Nifty Bank index is seen in the range of 24400-24450, which is the 100% extension of the previous upmove from 22470 to 23898 (measured from the swing low of 22996). As the index approaches the mentioned resistance zone, traders should lighten up their positions. Also, in the recent upmove we have seen stock specific participation and hence, we continue to advise traders to focus on stock specific moves. The intraday supports for the Nifty bank index are placed around 24060 and 23950 whereas resistances are seen around 24266 and 24427.

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Angel Broking Pvt Ltd
Published on 20/07/2017 9:46:45 AM

Sensex (31955) / Nifty (9900)

Tuesday’s surprising down move was followed by some sigh of relief for the bulls as we saw Nifty opening higher and extending these gains in the latter half to reclaim the 9900 mark. This move was mainly propelled by the banking conglomerates that came for a rescue after the index heavyweight counter ‘ITC’ tumbling more than 10% on Tuesday.

Clearly, the optimism has been so strong in the market since last couple of weeks and hence, we witnessed a smart recovery towards the 9900 mark. Due to this, Tuesday’s downward gap has now been filled completely. We understand that in such kind of euphoric situation, traders are reluctant to book out their longs. But, with a slightly broader perspective, we continue to remain cautious on the market. Hence, we repeatedly advise traders to keep booking profits on existing longs (at least index specific) in the current rally. We maintain our view that the selective individual stocks are offering better trading opportunities and hence, traders should concentrate more on such developments. For the coming session, 9910 – 9930 would be the levels to watch out for; whereas, 9851 – 9800 would be seen as immediate support zone.

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