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Choice International Ltd

Published on 13/11/2019 9:48:39 AM

Bank Nifty Outlook

* Bank Nifty opened lower at 30664.65, and made intraday low at 30625.80, but recovered from days low and extended rally and hit day's high of 31205.20. The index closed 366.15 points higher at 31115.55.

* On a daily chart, the Index has been formed “Big Bullish Candle” with above average volume activity which point out positivity in the Index.

* On an hourly chart, the Index has been trading in “Rising Wedge Formation” and near to breakout of its upper band of formation with applying volume activity which show positivity in the Index.

* Moreover, the Index has been trading above its 21 & 50 “Hours Simple Moving Average” which show positivity in the Index.

* A momentum indicator RSI and MACD both have shown positive crossover on the daily chart which adds more bullishness to the price

* Based on the above technical structure, we are expecting that the BankNifty may face strong resistance 30850 while downside support comes at 30420 level.

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Choice International Ltd

Published on 13/11/2019 9:48:12 AM

Nifty Outlook

* The Nifty opened lower at 11,879.20 and remained range bound. It touched an intraday low of 11,853.95 and a high of 11,932.65, before closing 5.30 points higher at 11,913.50.

* On the yesterday trading session we have seen the index consolidated through out the session and remain in narrow range of 75 points and formed a small bullish candle on the daily scale,

* On an hourly chart, the Index has been closed below its lower band of “Ascending Triangle Pattern” with an the volume activity which indicates down side movement in the Index.

* Moreover, the Index has been trading below its 21 & 50 hours “Simple Moving Average” which show negativity in the Index.

* A daily momentum indicator RSI reading is at 64.83 level with a negative crossover which points out for a negative breath in the Market.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 12050 while downside support comes at 11800 level.

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Choice International Ltd

Published on 11/11/2019 9:56:02 AM

Bank Nifty Outlook

* The Bank Nifty outperformed the benchmark index and extended its gains towards the 31,100 mark. It gained nearly 400 points on intraday basis but failed to hold the gains.

* On a weekly chart, the Index has been giving breakout of its “Falling Trend Line” and also trading above its line which indicate positivity in the Index.

* On the other hand, the price has shifted above “Ichimoku Cloud” where TenkanSen has crossed Kinsen, which indicates bullish signals for near term.

* Moreover, the Index has been trading above its 21 & 50 “Weeks Simple Moving Average” which show positivity in the Index.

* A daily momentum indicator RSI reading is at 59.62 level with a positive crossover which points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the BankNifty may face strong resistance 30850 while downside support comes at 30420 level.

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Choice International Ltd

Published on 11/11/2019 9:55:50 AM

Nifty Outlook

* The Nifty opened lower at 11,987.15 but managed to show some recovery in the afternoon and hit the day's high of 12,034.15. But immediately the index erased the gains and fell sharply to hit an intraday low of 11,888.75. It closed 103.80 points lower at 11,908.20.

* On a daily chart, the Index has confirmed “Hanging Man Candlestick” which is reversal formation suggests southward movement in the stock.

* On an hourly chart, the Index has been retreat from its upper band of “Ascending Triangle Pattern” with an the volume activity is also very appealing during the trading session which indicates down side movement in the Index.

* Moreover, the Index has been trading below its 21 & 50 hours “Simple Moving Average” which show negativity in the Index.

* A daily momentum indicator RSI reading is at 64.62 level with a negative crossover which points out for a negative breath in the Market.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 12050 while downside support comes at 11840 level.

Click Here- https://bit.ly/2X1Ey0J

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Choice International Ltd

Published on 8/11/2019 10:17:53 AM

Bank Nifty Outlook

* During Yesterday treading session, Index opened above the previous day high at 30821.35 is likely to test all-time highs of 31,780 however during 2nd half of the trading session, the index traded in range bound movement B/W 30519 – 30718 and finally settled at 30633.15

* On an hourly chart, the Index has retreated from upper “Bollinger Band” formation which indicates further downside in the Index.

* Moreover, the Index has been trading above its 21 & 50 hours “Simple Moving Average” which show positivity in the Index.

* A momentum indicator RSI and MACD both have shown positive crossover on the daily chart which adds more bullishness to the price

* Based on the above technical structure, we are expecting that the BankNifty may face strong resistance 30820 while downside support comes at 30340 level.

Click Here - https://bit.ly/2qxvapz

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Choice International Ltd

Published on 8/11/2019 10:17:32 AM

Nifty Outlook

* The Nifty50 opened at 12,021.10, which was also an intraday high, and remained highly volatile during the day. The index touched a day's low of 11,946.85, but immediate recover from its days low & remain positive and close 46 points higher at 12,012.

* On a daily chart, the Index has formed “Dragonfly Doji candlestick” pattern, which suggest a northward movement in a Index.

* Furthermore, the Index has been trading above its 21 & 50 hours “Simple Moving Average” which show positivity in the Index.

* A daily momentum indicator RSI reading is at 72.35 level with a positive crossover which points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 12060 while downside support comes at 11840 level.

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Choice International Ltd

Published on 6/11/2019 10:19:35 AM

Bank Nifty Outlook

* On a daily chart, the Index has opened at 30091.35 and made a intraday high at 30451.90 level and closed with a loss of 113.25 points at 30219.85.

* On a Daily Chart, the index formed spinning top candlestick formation which is reversal pattern however index has strong support of it’s 21 DMA which is placed at 29600 which indicate a bounce back from that level.

* Moreover, the Index has been trading with positive crossover of 21*50 Daily Exponential Moving Averages which shows the positive sign for the time being.

* A daily momentum indicator RSI reading is at 63.15 level with a positive crossover that points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the BankNifty may face strong resistance 30500 while downside support comes at 29900 level.

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Choice International Ltd

Published on 6/11/2019 10:19:13 AM

Nifty Outlook

* On a Daily chart, the index has opened on day 11976.30 but did not managed to sustain at higher level and closed with a loss of 24.10 points at 11917.20.

* Moreover, the stock has facing resistance from physiological level i.e. 12000 crossing of which can show fresh buying and can test the life time high of 12103.10.

* Moreover, the Index has been trading with positive crossover of 21*50 Daily Exponential Moving Averages which shows the positive sign for the time being.

* A daily momentum indicator RSI reading is at 69.45 level with a positive crossover that points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance at 12000 while downside support comes at level at 11840.

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Choice International Ltd

Published on 5/11/2019 10:18:09 AM

Bank Nifty Outlook

* On a daily chart, the Index has opened at 30419.10 and made a monthly high at 30604level and closed and closed on flat note at 30333.10.

* On a Daily Chart, the stock has been trading with higher highs and higher bottom formation which indicate further upside move in the stock.

* Moreover, the Index has been trading with the support of it's 21 Weekly Exponential Moving Average which is placed at 29158 level which shows the positive sign for the time being.

* A daily momentum indicator RSI reading is at 65.15 level with a positive crossover that points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the BankNifty may face strong resistance 30500 while downside support comes at 29900 level.

Click Here - https://bit.ly/2NhCQVS

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Choice International Ltd

Published on 5/11/2019 10:17:49 AM

Nifty Outlook

* On a Daily chart, the index has opened in green note at 11928.90 made a intraday high at 11989.15 level and closed with a gain of 50.70 points at 11941.30.

* Moreover, the stock has facing resistance from physiological level i.e. 12000 crossing of which can show further upside movement.

* Moreover, the Index has been trading with the support of it's 21 Weekly Exponential Moving Average which is placed at 29158 level which shows the positive sign for the time being.

* A daily momentum indicator RSI reading is at 64.45 level with a positive crossover that points out for a positive breath in the Market.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance at 12000 while downside support comes at level at 11880.

Click Here - https://bit.ly/2NhCQVS

Please refer disclaimer at http://www.choiceindia.com/disclaimer.aspx