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Angel Broking Pvt Ltd

Published on 6/12/2019 11:02:24 AM

Nifty Bank Outlook - (31713)

Yesterday, Bank Nifty Index started with a gap up opening however it lacked follow up move and traded in a range before the RBI policy announcement. Post the announcement the bank index witnessed a sharp fall which was followed by intraday recovery. Subsequently, the bank index again witnessed sell-off in the last hour and ended with a loss of 0.83% at 31713.

Since the last few sessions, the Bank Nifty Index is trading in a range above the previous swing high around 31600 levels. Technically, there are no signs of weakness and the bias remains positive. Traders are advised to focus on individual counters from the banking space which are providing better trading opportunities. As far as levels are concerned, immediate support is placed around 31600-31444 whereas resistance is placed around 32000-32160 levels.

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Angel Broking Pvt Ltd

Published on 6/12/2019 11:02:05 AM

Sensex (40780) / Nifty (12018)

On Wednesday, we had a strong last hour surge in our market, which probably was the reflection of hopes built for yet another rate cut by RBI. In line with this, the market was trading with a positive bias ahead of the monetary policy; but ‘Status Quo’ from RBI clearly disappointed market participants and as a result, the Nifty gave up all gains and slipped into a negative territory. The most sensitive index, Bank Nifty tumbled from morning highs and remained under pressure thereafter. Eventually, the day ended with some cuts on benchmark indices as well as the broader market.

Yesterday’s intraday correction was quite evident after such unexpected outcome, but fortunately the impact was not as severe as it’s generally seen after a disappointment. That’s a sign of a strong uptrend and going ahead, we continue to remain upbeat on the market as long as the sacrosanct support zone of 11930 – 11883 remains intact. On the upside, 12080 – 12120 are the immediate levels to watch out for. Traders are advised to be with the larger trend and should ideally refrain from taking contradictory bets against the major direction on a positional basis.

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HDFC Securities

Published on 6/12/2019 10:32:39 AM

RBI hits a pause button HDFC Securities

Led by RBI Governor Shaktikanta Das, MPC decided to keep the policy repo rate unchanged. Markets were expecting a rate cut. It took heart from the remark that it is a "temporary pause" in the interest rate cutting cycle.

U.S. stocks recovered from a morning slide and moved higher to close in the black on Thursday as investors remained optimistic about prospects for a U.S.-China trade deal despite a looming deadline for the imposition of fresh import tariffs by President Donald Trump.

Indian government has started an investigation and may impose anti-dumping duty on radial tyres from Thailand, these should enthuse tyre companies stocks. Logistic companies are going to be in limelight today, as Allcargo Logistics is acquiring a controlling stake in Gati for Rs 416 cr.

In the short term, wait for Nifty to close above 12150 mark to take fresh long positions. Raise Stop for all trading positions to 11900. We think markets had already factored in a rate cut. Since RBI did not oblige with a cut, there is a room for some disappointment.

 

RBI Monetary Policy: Interest rates unchanged, GDP growth forecast lowered to 5%

The Reserve Bank of India (RBI) released its fifth bimonthly monetary policy statement for 2019-20 in which the Monetary Policy Committee (MPC), led by Governor Shaktikanta Das, decided to keep the policy repo rate unchanged at 5.15%. In 2019, the RBI has cut repo rate by 135 basis points so far to nine-years low of 5.15%. Street was expecting another 25 bps cut.

Das said the policy rate decision was a "temporary pause" in the interest rate cutting cycle and the MPC will be better placed to decide on it in February after more data comes in and the government brings out its Budget for 2020-21

Mr. Das said the RBI doesn't want to reduce the MPC rate again and again but wait for maximum impact.

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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.
 

Geojit Financial Services Ltd.

Published on 6/12/2019 10:31:25 AM

Nifty Outlook: Directional move soon

The call shorts and put longs build up has continued suggesting that traders clinging on to their bearish bias. Maximum Put-Call open interest concentration is seen at 11,900-12,200 strikes which sets the volatile range, while the lopsided build up calls for directional move shortly.

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Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 6/12/2019 10:31:06 AM

F&O OUTLOOK

Review

Nifty futures closed at 12047.70 with a loss of 0.35% on Thursday. Open interest of the current expiry declined by 5.02 lakh shares indicating long unwinding up in the markets. Nifty premium fell from previous day's 46.60 points to 29.3 points. Amid addition of call options in ATM and OTM strikes, PCR slipped to 1.35 from 1.44. Volatility index, VIX spiked by 7.37% to end at 14.305 versus Wednesday's 13.3225. Maximum Call OI was seen at 12,100 level while maximum OI in the Put options was at 12,000 strike.

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Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345

HDFC Securities

Published on 6/12/2019 10:29:54 AM

BankNifty-Daily EOD (Spot/Cash):

SUPPORTS:

Technical Supports – 31444 – 31040.

RESISTANCES:

Technical Resistances – 31950 – 32157.

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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.

HDFC Securities

Published on 6/12/2019 10:28:29 AM

Nifty, BankNify-Support & Resistance HDFC Securities

Nifty-Daily EOD (Spot/Cash):

SUPPORTS:

Technical Supports – 11930 – 11880.

RESISTANCES:

Technical Resistances – 12080 – 12158.

Click Here - https://bit.ly/34V2S7H

HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.

GEPL Capital

Published on 6/12/2019 10:22:42 AM

*GEPL VIEW ON MARKET @ 10.15 AM:*

*NIFTY DEC FUT :* 12059.95 (11.00 i.e 0.09%) 
*HIGH :* 12082 *LOW :* 12052.40 *ATP :* 12066.54
*DYNAMIC PARAMETER :* Index trading in the previous session range.
*SUPPORT ZONE:* 12015/ 11970
*RESISTANCE ZONE:* 12085/ 12120

SEBI Registration number is INH000000081.
Please refer disclaimer at www.geplcapital.com/Disclaimer.aspx

GEPL Capital

Published on 6/12/2019 10:22:08 AM

*BANKNIFTY DEC FUT :

* 31895.00 (37.00 i.e 0.11%) 
*HIGH :* 31925.00 *LOW :* 31767.45 *ATP :* 31851.05
*DYNAMIC PARAMETER :* Index trading near previous session low.
*SUPPORT ZONE:* 31700/ 31500
*RESISTANCE ZONE:* 32050/ 32200

SEBI Registration number is INH000000081.
Please refer disclaimer at www.geplcapital.com/Disclaimer.aspx

Geojit Financial Services Ltd.

Published on 6/12/2019 10:14:28 AM

Nifty Outlook:

NIfty is expected to take support at 11990 and may attempt to move up again towards 12080 and thereafter towards 12150. On the flip side, expect more selling if NIfty fails to hold 11950.

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Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345