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Choice International Ltd

Published on 16/07/2019 10:39:22 AM

Bank Nifty Outlook

* Bank Nifty failed to hold above 30,600 and the index closed 155.50 points lower at 30,445.95. It formed a bearish candle on the daily scale and negated the formation of higher highs after three trading sessions.

* On a daily chart, the index has formed Symmetrical Tringle formation and also taken support of its lower band of formation which suggests a good opportunity to make long position in the counter.

* On an hourly chart ,the Index is trading below its 21 and 50 days Simple moving averages which show negative movement for the time being.

* A daily momentum indicator RSI reading is at 47.45 level with an Upward Rising Trend line which points out for a positive breath in the Index.

* Based on the above technical structure, we are expecting that the BankNifty may face an intraday resistance at 30900 while downside support comes at 30500 level.

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Choice International Ltd

Published on 16/07/2019 10:38:49 AM

Nifty Outlook

* During Yesterday treading session, Index opened at 11614.75 after that the index traded in range bound movement B/W 11532-11581, however during 2nd half of the trading session, bullish movement seen in Index and finally settled at 11588.35.

* On a daily chart, the Index has taken support of its 100 Days Exponential Moving Average which indicate up side movement in the Index.

* On an hourly chart, the Nifty has trading inside its Rising wedge formation and also taken support of its lower band of this formation which indicate positivity in the Index.

* A daily momentum indicator RSI reading is at 41.65 level with a positive crossover, apart from this, the RSI is trending with its Upward Rising Trend line which points out for a positive breath in the Index.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 11650 while downside support comes at 11520 level.

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Choice International Ltd

Published on 15/07/2019 9:47:17 AM

Bank Nifty Outlook

*  On a daily chart, the BankNifty has formed a Doji Candlestick which is an indecisive candlestick and doesn’t indicate any particular direction.

*  Moreover, the Index has been trading below its 21 Days Moving Average which is placed at 30875 level which shows a temporary resistance for the time being.

*  However, the BankNifty has held strong support near to its previous bottom which gives a cushion to Index to propel an upside movement.

*  A daily momentum indicator RSI reading is at 47.45 level with an Upward Rising Trend line which points out for a positive breath in the Index.

*  Based on the above technical structure, we are expecting that the BankNifty may face an intraday resistance at 30900 while downside support comes at 30500 level.

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Choice International Ltd

Published on 15/07/2019 9:47:07 AM

Nifty Outlook

*  On a daily chart, the Nifty has sustained above its 100 Days Moving Average which is a good sign for a bounce back movement.

*  Moreover, the Index is also taking the support of its 11488 level which is a 61.80% Fibonacci Retracement level of its previous up move from 11108 level to 12103 level.

*  On a weekly chart, the Index has been trading in an Upward Rising Channel formation which is a continuation pattern and suggests a northward movement.

*  A daily momentum indicator RSI reading is at 41.65 level with a positive crossover, apart from this, the RSI is trending with its Upward Rising Trend line which points out for a positive breath in the Index.

*  Based on the above technical structure, we are expecting that the Nifty may face strong resistance 11650 while downside support comes at 11520 level.

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Choice International Ltd

Published on 12/07/2019 9:37:30 AM

Bank Nifty Outlook

* On a daily chart, the BankNifty has formed a Doji Candlestick which is an indecisive candlestick and doesn’t indicate any particular direction.

* Moreover, the Index has been trading below its 21 Days Moving Average which is placed at 30875 level which shows a temporary resistance for the time being.

* However, the BankNifty has held strong support near to its previous bottom which gives a cushion to Index to propel an upside movement.

* A daily momentum indicator RSI reading is at 47.45 level with an Upward Rising Trend line which points out for a positive breath in the Index.

* Based on the above technical structure, we are expecting that the BankNifty may face an intraday resistance at 30900 while downside support comes at 30500 level.

Click Here- https://bit.ly/2JvpUJO

 Please refer disclaimer at https://choicebroking.in/disclaimer

Choice International Ltd

Published on 12/07/2019 9:37:19 AM

Nifty Outlook

* On a daily chart, the Nifty has sustained above its 100 Days Moving Average which is a good sign for a bounce back movement.

* Moreover, the Index is also taking the support of its 11488 level which is a 61.80% Fibonacci Retracement level of its previous up move from 11108 level to 12103 level.

* On a weekly chart, the Index has been trading in an Upward Rising Channel formation which is a continuation pattern and suggests a northward movement.

* A daily momentum indicator RSI reading is at 41.65 level with a positive crossover, apart from this, the RSI is trending with its Upward Rising Trend line which points out for a positive breath in the Index.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 11650 while downside support comes at 11520 level.

Click Here- https://bit.ly/2JvpUJO

 Please refer disclaimer at https://choicebroking.in/disclaimer

Choice International Ltd

Published on 11/07/2019 9:28:40 AM

Bank Nifty Outlook

* During yesterday’s trading session, we haven’t seen any volatile move however range was too low that it was between its previous day’s range which doesn’t indicate any particular direction.

* The BankNifty has been trading below its 21 Days Moving Average which shows a negative rhythm in the Index.

* However, it has good support of its recent bottom which is placed at 30220 level which suggests a bounce back move can be seen if BankNifty approachesthe said level.

* A daily momentum indicator RSI reading is at 43.75 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure on a chart, we expect that the Nifty may face a resistance at 30900 level while downside support comes at 30220 level.

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Choice International Ltd

Published on 11/07/2019 9:28:03 AM

Nifty Outlook

* On a daily chart, the Index didn’t break its previous day’s low which is a positive sign for bounce back movement after giving a healthy correction from 11982 level.

* Moreover, the Index has halted its correction at 11485 level which is a 61.80% Fibonacci Retracement level of its previous up move from 11108 level to 12103 level.

* On a weekly chart, the Nifty still has strong support of its lower band of Upward Rising Channel formation which again suggests a bounce back movement.

* A daily momentum indicator RSI reading is at 36.55 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure on a chart, we expect that the Nifty may face a resistance at 11600 level while downside support comes at 11450 level.

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Choice International Ltd

Published on 10/07/2019 10:47:27 AM

Bank Nifty Outlook

* After a major fall in BankNifty Index, yesterday the Index managed to close in green but formed a Doji shape candlestick on a daily chart which is an indecisive in nature and doesn’t indicate any direction.

* Apart from this, the Index has been trading below its 21 Days Moving Average which shows a negative rhythm in the Index.

* On an hourly chart, the Index has formed Bullish Harami Candlestick formation which is a Bullish Reversal formation and suggests an upside movement.

* A daily momentum indicator RSI’s reading is at 44.45 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure on a daily and hourly chart, we are expecting that the Index may face resistance at 30900 while a downside support comes at 30300

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Choice International Ltd

Published on 10/07/2019 10:47:10 AM

Nifty Outlook

* After a major correction in Index, the Nifty has managed to take the support of its 100 Days Moving Average which is placed at 11500 level which shows a bounce back movement in the Index.

* Moreover, the Index has formed a Hammer Candlestick which is a Bullish Reversal formation and suggests an upside movement.

* On a weekly chart, the Index has taken the support of its Lower Band of Upward Rising Channel formation which as well indicates a bounce back move in the Nifty.

* A daily momentum indicator RSI’s reading is at 38.70 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure, we are expecting that the Nifty may face resistance at 11650 while downside support comes at 11450 level.

Click Here- https://bit.ly/2XSa2cx

Please refer disclaimer at https://choicebroking.in/disclaimer