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Angel Broking Pvt Ltd

Published on 25/06/2019 10:16:02 AM

Nifty Bank Outlook -(30602)

Bank Nifty Index too started on a flat note yesterday and after a  session  of  consolidation  ended  with  minor  loss  tad  above 30600mark.

The  trading  activity  was  mostly  within  theprevious  session trading  range  and  technically  not  much  has  changed  on  the daily  chart.  On  the  lower  time  frame  hourly  chart,  we  are witnessing  that  Index  after  forming  a  strong  base  around 30200mark  is  now  witnessing  resistance  on  a  falling  trend line. Going forward, we sense the Index to resume the uptrend and  a  breakout  above  the  range  of 30765 –30825can confirm the same. Hence, traders are advised to avoid contra bets as long Index holds the base level of 30200mark.

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Angel Broking Pvt Ltd

Published on 25/06/2019 10:15:48 AM

Sensex (39123) / Nifty (11700)

Tracking  the  mixed  cues  from  the  Asian  peers,  our  markets started the weekon a flat note. The index then consolidated in a  range  throughout  the  day  and  ended  around  the 11700mark.

As  mentioned  in  our  previous  report,  the  Nifty  seem  to  have formed  a  support  base  in  the  range  of 11630-11591as  we had witnessed buying emerging in this range during last week. Last  two  trading  sessions  have  retraced  some  of  the  recent gains and if we analyze the lower time frame charts, the index has  retraced  about  78.60%  of  the  previous  up  move  around yesterday's low of 11670. Today's move could be crucial as a follow   up   buying   could   lead   to   a   near   team   positive momentum   towards 11820-11850.   Hence,   traders   are advised to avoid taking contra bets and trade with a positive bias till the earlier mentioned support is intact.

Amongst  the  sectoral  indices,  Bank  Nifty  has  indicated  some outperformance  in  last  few  trading  sessions.  Hence,  stocks from this sector along with some quality midcaps are likely to give some decent moves in near term.

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Arihant Capital Markets Ltd

Published on 25/06/2019 10:04:56 AM

Equity

On the Daily Chart, we are observing a narrow range body formation which suggests indecisiveness prevailing at current level.

 SEBI Registration No.- INH000002764
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Choice International Ltd

Published on 25/06/2019 10:03:17 AM

Bank Nifty Outlook

* Bank Nifty failed to surpass its previous day's high but consolidated in a narrow range of 200 points for most of the session. The index closed at 30,602.05, down 26.30 points and formed a small bearish candle on the daily scale but managed to hold above 30,500.

* On a daily chart, the Index has continuously sustained above its 50 Days Simple Moving Average which indicates upside movement in the index.

*  On an hourly chart, the Index is trading above its upper band of Falling Wedge Formation, which shows positive trend in the BankNifty Index.

* A daily momentum indicator RSI reading is at 48.01 level with negative crossover apart from this, RSI has formed Falling wedge formation & price has traded below its lower band of formation, which indicates further downside in the counter.

* Based on the above technical structure, we are expecting a support comes at 30,230 levels while upside resistance comes at 30,820.

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Choice International Ltd

Published on 25/06/2019 10:03:03 AM

NiftyOutlook

* Nifty after opening flat at 11,725.80 the Index made high of 11,754, but erased all gains in initial hour itself and made day's low of 11,670.20. The index remained volatile for a major part of the session and closed 24.40 points lower at 11,699.70.

* On a daily chart, the Index has continuously sustained above its 50 Days Simple Moving Average which indicates upside movement in the index.

* On an hourly chart, the stock has been trading with a strong Horizontal Trend line support which is placed at 11657 level which shows a bounce back movement in the Index.

* A momentum indicator RSI and MACD both have shown negative crossover on the hourly chart which adds more bearishness to the price.

*  Based on the above technical structure, we are expecting a support comes at 11,600 levels while upside resistance comes at 11,770.

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HDFC Securities

Published on 25/06/2019 9:43:24 AM

Nifty-Support & Resistance - HDFC Securities

SUPPORTS: Technical Supports – 11670 – 11625

RESISTANCES: Technical Resistances – 11800 – 11860.

For Complete Report And Disclaimer Click Here- https://bit.ly/2NejItM

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

 

Enrich Commodities India Pvt.Ltd

Published on 25/06/2019 9:40:25 AM

Technical outlook

Nifty  daily  chart  has  formed “Ascending  broadening  wedge” pattern. The last few sessions ended up sideways in trend along with some corrections inside the channel. The  market  is  expected  to  continue  on  bearish  momentum,  once  the  same  breaks below a key support holding at 11650. The downside rally could be testing all the way up to 11550-11420 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 11850 level. Key resistance holds at 11850.

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Enrich Commodities India Pvt.Ltd

Published on 25/06/2019 9:40:14 AM

NIFTY MORNING OUTLOOK

NIFTY MORNING OUTLOOK25/06/2019Pre-Market  Tuesday!  Asian  market positive  trading,  Nifty50  on  the  SGX were trading lower at 11711.50 -4.50 points    on    indicating    gap    down opening for the NSE.

At  the  close  in  NSE,  the  Nifty  50  fell 0.21%, while the BSE Sensex 30 index lost 0.18%.

The biggest gainers of the session on the Nifty 50 were UPL Ltd, which rose 5.38% or 47.90 points to trade at 936.55 at the close. Yes Bank Ltd added 1.64% or 1.80 points to end at 111.95 and Mahindra & Mahindra Ltd. was up 1.47% or 9.25 points to 634.85 in late trade.

Biggest losers included JSW Steel Ltd, which lost 3.39% or 9.05 points to trade at 257.80 in late trade. Oil and Natural Gas Corporation Ltd declined 3.01% or 5.15 points to end at 165.20 and Eicher Motors Ltd. shed 3.27% or 644.20 points to 19098.20.

The breadth, indicating the overall health of the market, 1390 fell and 1026 advanced, while 173 ended unchanged on the India National Stock Exchange.

Rupee desk:The USD/INR was down 0.27% to 69.395.

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Ventura Securities Ltd

Published on 25/06/2019 9:15:50 AM

Dow+8, Nasdaq-26, Nikkei-45, SGXNifty 11702(-14). Yday FIIs+207cr in Cash,+195cr in FNO. DIIs+984cr in Cash. Tdy AdaniPower, IDBI, JetAirways, RelCapital, RelInfra in ban period in FNO. 

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Religare Securities Limited

Published on 25/06/2019 9:07:11 AM

Nifty Outlook

Markets settled marginally lower in a range bound session, in absence of any fresh trigger. Mixed global cues lead a flat start in the benchmark index and it gradually drifted lower as the session progressed. Meanwhile, volatility continued on the stock specific front which kept the traders on their toes. Mostly sectoral indices traded in tandem to the benchmark index and ended lower.

Participants are closely eyeing developments on global front however signals are still indecisive and that may cause further consolidation. Nifty has crucial support at 11,600 and its breakdown could trigger further fall. We advise keeping positions on both sides in such scenario and waiting for decisive break for the next directional move. 

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