Angel Broking Pvt Ltd
Published on 22/06/2017 9:38:51 AM

Nifty Bank Outlook - (23709)

The Nifty Bank index consolidated in a narrow range and ended the session with negligible gains. As mentioned in our earlier reports, the index has been trading above its '20DEMA' support and some heavyweights within the sector have been showing positive momentum. Thus, from a short-term trading perspective, traders should focus on stock specific moves and trade with a positive bias with a stop-loss below the recent low of 23300. The intraday supports for the Nifty Bank index are placed around 23535 and 23400 whereas resistances are seen around 23870 and 23950.

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Angel Broking Pvt Ltd
Published on 22/06/2017 9:38:30 AM

Sensex (31284) / Nifty (9634)

Yesterday, we had a soft opening in our market on the back of mounting concerns over falling crude oil prices due to oversupply. This early morning weakness extended a bit in the initial hours. However, we witnessed a smart recovery during the penultimate hour to trim major portion of losses to conclude the session well above the 9600 mark.

Now, if we look at the hourly chart meticulously, we can see yesterday’s correction precisely halted around the 61.8% retracement of the recent up move from 9560.80 to 9676.50. Hence, it seems that traders are reluctant to give up the 9600 mark. Hence, going forward, we may see continuation of this bounce first towards 9665 and then to test the 9700 mark. On the flip side, 9608 has now become an important support level on an intraday basis. Traders should remain light on positions and it’s advisable to continue with the stock centric approach.

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Mehta Equities
Published on 22/06/2017 8:48:52 AM

Stocks in action for the day: Fortis, DrReddy, Glenmark, RelDef, RamInf, Petronet, CoalIndia, IdeaCellular, FederalBank.
INR/1USD: 64.60
SGXNifty: 9667(+5)

 

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Religare Securities Limited
Published on 22/06/2017 8:47:08 AM

Nifty Outlook

Markets ended marginally lower in a volatile day, citing weak global cues. It opened with a downtick and hovered range bound thereafter. However, recovery in select index majors in the latter half trimmed the losses. It was a mixed session on sectoral front too wherein mostly indices closed on flat note.

We feel that almost all the positives are factored in and markets need some fresh trigger now. Currently, we’re trading in tandem to the world markets and thus we suggest keeping a close eye on global cues along with the local factors.

Please refer disclaimer at  http://old.religareonline.com/research/Disclaimer/Disclaimer_RSL.html

 

GEPL Capital
Published on 21/06/2017 10:20:38 AM

Key Highlights:

NIFTY wanders directionless, even as pull back above the physiological 9600 levels sustains.…. 

* The NIFTY opened @ 9670.50, UP by around 13 points over Monday. Although the market created day HIGHS after one hour, there was not much change in dynamics with the HIGH within 6 points of the opening. The move all through the day was largely directionless, with NIFTY trading in a tight 33 points range. In the end the NIFTY closed little changed @ 9653.50 minorly DOWN by 4.05 points or 0.04%.

* The broader indices were this time around outperforming vis-a-vis benchmark NIFTY. While the NIFTY MID100 FREE closed UP by 0.11% to close @ 18016.05; the NIFTY SML100 FREE closed UP by around 0.18% to close @ 7440.20. The broader move was pretty inconclusive, and stood even-stevens with 839 advances to 878 declines. The INDIA VIX remained largely unchanged to close @ 10.64 mark.

* The sectoral & thematic indices once again traded pretty MIXED. While the NIFTY IT saw a decent bounce back; the NIFTY MEDIA & NIFTY FIN SERVICES moved DOWN on either side of the half a percent mark. The sectoral picture too seems largely inconclusive, which sectors lacking any kind of sustainable momentum on either side.

* The dynamics of the market are once again trickling to the “SPRING analogy”. The NIFTY has ticked back above last week’s HIGHS, when it formed a Lower Top Lower Bottom formation on daily charts. While last week’s move pointed to opening of the gates to short term weakness towards 9540 - 9500 levels, the current week’s move has placed it back in a DEUCE. The NIFTY may face strong resistance @ 9680-9709 mark where it formed DOUBLE TOP previously. Without much doubt, we remain cautious in our approach, and play stock specific movements, as momentum is lacking on part of both the parties.

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

Angel Broking Pvt Ltd
Published on 21/06/2017 9:53:38 AM

Nifty Bank Outlook - (23698)

Along with the broader markets, the Nifty Bank index too consolidated in a narrow range of 110 points yesterday. The index ended the session with a minor loss over its previous session's close.

Yesterday's range bound trading action does not change any directional view for the index. The near term support for the Nifty Bank index is placed around 23300. Positional traders with long position should hence maintain a stop loss below the mentioned support. Meanwhile, day traders are advised to focus on stock specific moves and trade with proper risk management. The intraday supports for the Nifty bank index are placed around 23535 and 23365 whereas resistances are seen around 23870 and 23950.

Please refer disclaimer at http://www.angelsecurities.in/disclaimer.aspx

 

Angel Broking Pvt Ltd
Published on 21/06/2017 9:51:57 AM


Sensex (31298) / Nifty (9654)

A strong session on Monday was followed by a gap up opening with a small margin as indicated by the SGX Nifty early in the morning. Subsequently, we witnessed some profit booking at higher levels, which led to shaving off all gains to conclude the session on a flat note.

It's been yet another flat session for our markets. Since there is no major change in the chart structure, our view remains unchanged. We reiterate that traders should keep booking profits as Nifty approaches the resistance zone of 9700 - 9720. The immediate support remains at 9620 - 9580 levels. At this juncture, a prudent strategy would be to keep focusing on individual stocks with a proper exit strategy.

Please refer disclaimer at http://www.angelsecurities.in/disclaimer.aspx

Achiievers Equites Ltd
Published on 21/06/2017 9:24:34 AM

DAILY LEVELS     

NIFTY FUT     

R: 9689 - 9703 - 9716

S: 9661 - 9648 - 9634

BANK NIFTY FUT     

R: 23745 - 23797 - 23839

S: 23650 - 23608 - 23556

Please refer disclaimer at www.achiieversequitiesltd.com/Disclaimer.aspx
 

Mehta Equities
Published on 21/06/2017 8:57:51 AM

Stocks in action for the day: Axis,L&T,AmtekAuto,EicherMo,SpiceJet,ApolloHos,CanBk,RCom,GMRInf,Raym,RDef,InoxWind, Suzlon.
INR/1USD: 64.46
SGX Nifty: 9640(-33)

 

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