Religare Securities Limited
Published on 26/09/2017 1:11:23 PM

Nifty Outlook

Markets started the F&O expiry week on feeble note and lost nearly a percent. Weak Asian markets triggered negative start which further worsened with selling pressure across the board. However, rebound in last one and half hour trimmed some intraday loss. Amid all, market breadth failed to see any major improvement and ended on negative note.

There’s some buzz around possible stimulus package which the government may announce to boost growth. However, market seems more concerned about its impact on fiscal deficit. Besides, anxiety around the geo-political tussle is adding fuel to the recent turmoil. Put together, indications are pointing toward further decline and any bounce may attract selling pressure. Volatility will remain high due to the upcoming derivatives expiry and erratic swings on global front. Thus traders should limit their positions and wait for some stability.

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Reliance Securities
Published on 26/09/2017 12:33:08 PM

Derivatives Snapshot

* Nifty continued its downward momentum with sharp correction across sectors and stocks with some recovery in the last one hour of trade. Nifty closed down by 92 points at 9,873 levels. Among the nifty stocks 13 stocks advanced and 36 declined during the day.

* Sectorally, all sectors ended sharply with the highest decline in Realty, Pharma, Metals to correct by 3.1%, 1.8% and 1.2% respectively while other sectors witnessed profit booking to the tune of 1% average.

* Broader market indices remained weak with NIFTY 100,200 and 500 to close down by 1% average while midcap indices and small cap indices declined by 1.3% and 2.3% respectively.

* Nifty September futures ends with 7 points premium at 9,879 mark, while on other hand, Bank Nifty September futures ended with the premium of 34 points at 24,199 mark.

* Nifty has erased its gains and trading below the last month expiry, on the downside there is strong support near sub 9,800 levels and failure to hold these would call for further profit booking in broader markets. Nifty 10,000 PE has seen unwinding with gradual shift to 9,800 PE increase of 7 lakhs shares moving the OI to 38 lakhs.

Sectoral Activity: Amongst sectoral index, Realty and Pharma remained in focus with negative momentum.

Stock Activity: DLF and Dr.Reddy observed build up in short position.

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Reliance Securities
Published on 26/09/2017 12:28:13 PM

NSE-NIFTY OUTLOOK

* NSE-NIFTY continued prior downtrend and slipped to 4-week low amidst negative global cues and also due to selling across the board. Yesterday, index has retraced 74% of prior up-move (9,686-10,179), but managed to settle above the key support point of 9,850 level. Due to consecutive decline in the index, key technical indicators-Stochastic and RSI has also reached to their oversold zone, signaling that the index in on a verge turnaround. As mentioned earlier, our view will remain up-beat for NIFTY and we believe that index will soon settle down and will resume its northward journey. On the lower side, now index will find strong supports at around 9,700 level. However, in case of bounce back, NIFTY will face major hurdles at around 10,000 and then at 10,200 levels.

* As for the day, support is placed at around 9,800 and then at 9,740 levels, while resistance is observed at 9,950 and then at 10,000 levels.

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Enrich Commodities India Pvt.Ltd
Published on 26/09/2017 11:21:06 AM

Technical outlook

Trading Pattern analysis according to the previous session movement in nifty shows on the daily chart another long bearish pattern which signals more down fall in markets in the days to come, as nifty opened near the high point of the day and drift further to record new short-term lows indicates no buyers near the lows to push the market up. Investors are advised a short position. Maintain a strict stop loss above 10,000. Nifty could test next down side support at 9750-9650. Major resistance holds at 10000.

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Enrich Commodities India Pvt.Ltd
Published on 26/09/2017 11:20:41 AM

NIFTY MORNING OUTLOOK

Nifty50 on the SGX were trading at 9868 -15 points on indicating flat opening for the NSE. Other Asian market has negative territory, on Wall Street overnight, as the war of words between North Korea and the U.S. escalated.

On Monday, The Nifty fell 91.80 points or 0.92% to settle at 9,872.60. The index fell 148.35 points or 1.48% at the days low of 9,816.05. The index declined 3.90 points or 0.03% at the days high of 9,960.50, its lowest closing level since 29 August 2017.

The biggest gainers of the session on the Nifty50 were Tata Power Co. Ltd, which rose 1.80% or 1.45 points to trade at 81.85 at the close. Coal India Ltd added 1.28% or 3.25 points to end at 257.05 and Zee Entertainment Enterprises Ltd. was up 0.92% or 4.80 points to 526.50 in late trade.

Biggest losers included ACC Ltd, which lost 3.30% or 55.65 points to trade at 1632.65 in late trade. Aurobindo Pharma Ltd. declined 3.22% or 23.35 points to end at 700.85 and Adani Port and Special Economic Zone Ltd shed 3.33% or 13.35 points to 388.65.

On the NSE stocks movement 1922 fell and 582 advanced, while 139 ended unchanged.

Rupee desk: The USD/INR was up 0.32 to 65.16

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Choice International Ltd
Published on 26/09/2017 10:28:03 AM

 Bank Nifty Outlook

* The market breadth was negative, the BankNifty closed at 24165.05 with losing of 203.80 points.

* On a daily chart, the index has breached below the strong support at a confluence of 50 days exponential average and 61.8% Fibonacci Retracement level.

* However, the index has taken a strong support of the 78.6% Fibonacci retracement level, placed at 24096.79 and closed above the level.

* A daily momentum indicator MACD is showing a negative crossover which points out for a negative breath in the index.

* Based on the above technical parameters, we are expecting a higher side resistance level at 24450- 24640 while downside support comes at 24000 level.

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Choice International Ltd
Published on 26/09/2017 10:26:33 AM

Nifty Outlook

* The Nifty index has moved down sharply on a second consecutive trading session, settled at 9872.60 with losing 91.80 points.

* On a daily chart, the index has continued its southward move during the session and breached below the 50-day exponential moving average which is a negative sign.

* However, the index has tested a strong support at 61.8% Fibonacci Retracement level of its last up move from 9685.55 to 10175.60, placed at 9872.75 which is exactly the today’s closing value of the index.

* A daily momentum indicator RSI reading is at 41.28 level, heading towards the oversold zone which points out for a negative breath in the index.

* Based on the above technical parameters, we are expecting a higher side resistance level at 9960-9980 while downside support comes at 9790 level.

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Angel Broking Pvt Ltd
Published on 26/09/2017 10:24:32 AM

Nifty Bank Outlook - (24165)

Post a sharp sell-off on Friday; the Nifty Bank index continued its selling streak in yesterday's session as well. The index corrected sharply in the first hour of the session and then traded in a narrow range to end the day with a loss of 0.84 percent.

As mentioned in our earlier report, the Nifty Bank index has formed a reversal pattern on the weekly chart after a significant up move in last few months. Hence, the index is likely to see a consolidation/corrective phase in the immediate term. Hence, traders should trade with cautious and avoid forming long positions. On pullback moves, the index is likely to face strong resistance around 24450, while we are expecting the index to correct upto its '89 DMEA' support which is placed around 23850. Any pullback move upto the mentioned resistance should be used as an opportunity to exit from long positions if any.

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Angel Broking Pvt Ltd
Published on 26/09/2017 10:23:39 AM

Sensex (31627 ) / Nifty (9873)

Friday’s massive sell off was followed by a flat opening in our markets. However, this was the only moment; bulls had their presence as once again we saw Nifty tumbling within five minutes of opening trade. Eventually, the Nifty ended yet another session on a weak note by shedding nearly a percent from previous close.

Last couple of day’s price action certainly justifies our recent cautious stance on the index despite Nifty clocking fresh record high of 10178.95. Yes, it’s agreed that the similar corrective move was seen during the first half of August and in fact, the index went on to make fresh record high in the subsequent up move. But, we would like to highlight one interesting observation. Historically, it’s observed that a strong trend takes a u-turn in the second attempt and we believe that the ongoing move is a beginning of that second attempt (Considering August correction as a First attempt). Hence, going forward, surpassing the immediate hurdle of 9950 – 10000 would be a daunting task for our markets. Any bounce back towards 9900 – 9940 is likely to get sold into. Traders are repeatedly advised to stay light on positions and look to exit longs in intraday rallies. We expect continuation of this downward move towards 9780 first and then to test recent low of 9685.

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Ventura Securities Ltd
Published on 26/09/2017 9:15:30 AM

Dow-54, Nasdaq-56, Nikkei-20, SGXNifty 9865(-18). Yday FIIs-1249cr in Cash,-960cr in FNO. DIIs+1010cr in Cash. Tdy BEML,DLF, IBRealest, ICIL, Infibeam, JSWEnergy, Rcom, RelCapital in ban period in FNO. VENTURA

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