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Enrich Commodities India Pvt.Ltd

Published on 15/06/2018 10:48:06 AM

Technical outlook

Nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend inside the channel. The market is expected to continue on bearish term, testing all the way through 10750-10700 levels in upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 10900 then it might turn bullish once again. The upside rally could test 10950-11000 levels. Key support holds at 10700.

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Enrich Commodities India Pvt.Ltd

Published on 15/06/2018 10:44:37 AM

NIFTY MORNING OUTLOOK

Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 10792 -23 points on indicating gap down opening for the NSE.

At the close in NSE, the Nifty 50 fell 0.45%, while the BSE Sensex 30 index lost 0.39%.

The biggest gainers of the session on the Nifty 50 were Lupin Ltd, which rose 3.57% or 31.10 points to trade at 899.60 at the close. Sun Pharmaceutical Industries Ltd. added 2.44% or 13.35 points to end at 559.25 and HCL Technologies Ltd was up 1.33% or 12.30 points to 936.95 in late trade.

Biggest losers included Adani Port and Special Economic Zone Ltd, which lost 2.15% or 8.25 points to trade at 374.45 in late trade. Tech Mahindra Ltd declined 2.16% or 15.40 points to end at 698.80 and ICICI Bank Ltd shed 1.84% or 5.35 points to 284.75.

The breadth, indicating the overall health of the market, 1352 fell and 1198 advanced, while 126 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.24 to 67.655.

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GEPL Capital

Published on 15/06/2018 10:37:09 AM

Key Highlights:

The NIFTY faces resistance at predefined RESISTANCE band of 10900-10950, even as US Fed spooks the wagon. SUPPORTS move UP to 10750-10630 ….

* The NIFTY opened @ 10832.90, a slight move DOWN of around 22 points over Wednesday. A full RED day, the Nifty wagon was spooked by the US Fed rate hike. The previous session’s Bullish momentum was broken altogether. By noon, the NIFTY had broken DOWN to 10775 mark, after which the market regained some lost ground to shut shop @ 10808.05 DOWN by around 48.65 points or 0.45%.

* The broader indices this time around outperformed the benchmark NIFTY slightly. While the NIFTY MID100 FREE closed UP by 0.08% to close @ 18934.20; the NIFTY SML100 FREE closed UP by just 0.001% to close @ 7710.40. The broader market also turned into even-stevens with a slight favor for the BEARS at 787 advances & 918 declines. The INDIA VIX gave way as the uncertainty out of the FED even was behind. It softened by 4.31%, to close @ 12.0900.

* In line with the broader markets, the SECTORS too largely traded in the RED. While the NIFTY PHARMA once again saw an UP MOVE of around 1.83%; the NIFTY IT & NIFTY PSU BANKS corrected by about a percent & a half each.

* Technically, the Nifty is still moving in a consolidation band on daily chart. The Nifty has managed to close into the struggle zone of 10800-10820 once again, and it would be worthwhile to see how the NIFTY behaves if further upward momentum may take it to the recent HIGH at 10930. The level may thus prove to be a LITMUS test. On the other hand, the support which was earlier placed around 10580-10550 levels, may once again come to the FORE with recent LOW @ 10400 holding as a major basement.

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Choice International Ltd

Published on 15/06/2018 10:32:04 AM

Bank Nifty Outlook

* The Bank Nifty index opened at 26,612.30 and went down to an intraday low of 26,503.10, closing the day at 26,562.25 with a loss of 80.55 points or 0.30 percent.

* On an Hourly chart, the Bank Nifty has started trading above its 21 Hourly Exponential Moving Average which can be positive for Bank Nifty.

* The daily momentum indicator RSI(14) reading is 57.81 and holding above its oversold zone.

* Going forward, during the day we expect the index to find resistance at 26800 level, whereas support is likely to be placed at 26400 level.

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Choice International Ltd

Published on 15/06/2018 10:31:11 AM

Nifty Outlook

* Nifty closed the day on weak note on Thursday, closing the day at 10808.05 with a loss of 48.65 points or 0.45 percent.

* On an Hourly chart, the Nifty has been sustaining above its 50 Hourly Exponential Moving Average.

* The daily momentum indicator RSI(14) reading is 58.79 with a positive crossover which is positive for the Index.

* With the ongoing structure, we are expecting the index to find resistance at 10900 level while downside support comes at 10770 level.

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Angel Broking Pvt Ltd

Published on 15/06/2018 10:27:07 AM

Nifty Bank Outlook - (26562)

The Nifty Bank index traded in a narrow range of 120 points in yesterday's session and ended the day with a marginal loss.

As mentioned in our earlier reports, the Nifty Bank index is undergoing a consolidation phase and the next directional move would depend on the direction of the breakout. While the rising trend line support on the index is now placed around 26420, the resistance is around 26767. Thus, traders should initiate fresh positions only post a breakout beyond the mentioned levels.

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Angel Broking Pvt Ltd

Published on 15/06/2018 10:26:00 AM

Sensex (35600) / Nifty (10808)

We had a tepid start yesterday as most of the global peers looked a bit scratchy post the overnight development with respect to the Fed policy. During the first half, index remained under tremendous pressure to sneak below the 10800 mark. However, a marginal recovery in the latter half resulted into a daily close above 10800 with a cut of nearly 0.45% over the previous close.

Yesterday’s close coincided with the mentioned support of 10780 and hence, going ahead, yesterday’s low of 10773.55 would be seen as a crucial intraday support. As long as index manages to maintain its position above this, we are likely to continue the recent range i.e. 10780 – 10920. For the day, a move beyond 10834 would bring back some optimism to retest the higher the higher end of 10880 – 10920 in coming days. As of now, traders are advised to keep a close eye on these key levels and should continue adopting the stock centric approach.

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Religare Securities Limited

Published on 15/06/2018 10:09:44 AM

Nifty Outlook

The bears took control over the Indian markets, as the equity benchmark indices ended Thursday’s session sharply lower, led by negative global cues. The Nifty index touched intra-day low of 10,774 and closed in red with losses of 0.5% at 10,808 levels. The sentiments were dampened due to rate hike and hawkish commentary by US Fed. The broader market indices, BSE Midcap & Smallcap, outperformed the benchmark and ended the session on a flat note. Barring Healthcare and Auto, all the other sectorial indices namely Capital Goods, Consumer Durables, IT & Banks closed in red. Amongst the global indices, both European and Asian markets traded lower.

We believe one should remain cautious in the market due to global sentiments, movement of INR (vs USD) and crude oil prices. Monetary policy meetings in Europe and Japan would be closely tracked. Citing high volatility in the indices in the near term, we advise traders to strictly hedge their risky leveraged positions. However, investors can continue to focus on fundamentally sound companies on dips.

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Arihant Capital Markets Ltd

Published on 15/06/2018 9:40:29 AM

Equity

On 14/06/2018 markets opened lower traded in a narrow range throughout the day to close in red. On the sectoral front Healthcare and Auto ended on the gainers side whereas IT and Teck ended on the losers’ side. The advance decline ratio was in favour of declining counter (Advances = 1232/Declines = 1393).

Pattern Formation: On the daily chart, we are observing narrow range body formation.  

Outlook: In view of the above pattern formation, it is evident that a consolidation or minor correction from current level cannot be ruled out. In coming trading session if Nifty trades above 10850 levels then it may test 10900 - 10930 levels. On the downside, 10750 – 10710 levels may act as support for the day.  

Broadly, there is no sign of weakness but a consolidation or minor correction cannot be ruled out. Hence, cautiously positive approach should be adopted at current level. However, stock specific activity is likely to continue. 

Tags: Nifty Technical Outlook, Nifty50 Technical Levels, Guru Calls, FIIs & DIIs Data, Ratings for stocks under our coverage, News for stocks under our coverage.

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Ventura Securities Ltd

Published on 15/06/2018 9:14:05 AM

Dow-26, Nasdaq+65, Nikkei+89, SGXNifty 10784(-30). Yday FIIs-1373cr in Cash,-1979cr in FNO. DIIs+576cr in Cash. Tdy Balramchin,DHFL,JetAirways,JustDial in ban period in FNO. VENTURA

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