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Arihant Capital Markets Ltd

Published on 19/07/2019 9:45:34 AM

Equity

Nifty opened on a flat note and traded in a tight range for first half, but in last half hour we have seen selling pressure from higher level which led the indices to close in red. On the daily chart we are observing Nifty stuck between 50 & 100 day SMA. So unless we did not get either side range break we can get opportunity for trade both side. On the upside 11660 – 11710 level will be major resistance and the downside 11545 will be support.

Outlook: Hence, in coming trading session traders can get both side opportunities. If Nifty trades below 11545-11540 then can go short with a stop loss of 11585 for target 11500-11480. On the flip side if Nifty trade above 11600 then trader can go long with the stop loss 11560 for target 11650-11680.  

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Arihant Capital Markets Ltd

Published on 18/07/2019 9:14:46 AM

Equity

Nifty opened on a subdued note but momentum on the upside intensified as the day progressed, but in later half we have seen tight range bound activity which led the indices to close in marginal upside. On the daily chart we are observing a narrow range candle which suggests that we can see range bound activity. On the upside, 11712 levels is major resistance. This coincides with the 50-day SMA. Hence, if Nifty opens higher then we could see some profit booking. However if its opens lower then traders may get opportunity to go long in Nifty.

Outlook: Hence, in coming trading session if Nifty opens lower in the range of 11650 to 11630 levels then again traders can go long, with a stop loss of 11580. On the upside it may test 11705 – 11735 levels.  

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Arihant Capital Markets Ltd

Published on 17/07/2019 10:08:43 AM

Equity

Nifty opened on a subdued note but momentum on the upside intensified as the day progressed which led the indices to close in green. On the daily chart we are observing a positive candle which suggests that momentum on the upside is likely to continue. On the upside, 11712 level is major resistance. This coincide with the 50-daySMA. Hence, if Nifty opens higher then we could see some profit booking. However if its opens lower then traders may get opportunity to go long in Nifty.

Outlook: Hence, in coming trading session if Nifty opens lower in the range of 11638 to 11623 levels then again traders can go long, with a stop loss of 11580. On the upside it may test 11705 – 11735 levels.  

 SEBI Registration No.- INH000002764
Please refer disclaimer at http://arihantcapital.com/
 

Arihant Capital Markets Ltd

Published on 16/07/2019 10:38:52 AM

Equity

Nifty opened higher traded in a narrow range with positive bias to close in green. On the daily chart we are observing that prices have taken support at upward sloping trendline (Shown above in the graph). The value of the said trendline is at 11500. Hence, a pull- back rally from current level cannot be ruled out.

Outlook: In coming trading session Nifty can be bought in the range of 11567 to 11555 with a stop loss of 11500 for a target of 11620 – 11652 levels.

SEBI Registration No.- INH000002764
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Arihant Capital Markets Ltd

Published on 15/07/2019 9:12:56 AM

Equity

On the weekly charts, We are observing a downward gap area in the range of 11797 to 11771. Further, we are observing that the prices have tested the upward gap area of 11426 to 11591 (Upward gap area formed on 24th May 2019). On the daily charts, after prices breaching the swing low of 11600 has formed a lower-top lower- bottom formation

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Arihant Capital Markets Ltd

Published on 12/07/2019 9:43:49 AM

Equity

On the Daily Chart, we are observing three consecutive narrow range body formations near the upward sloping trendline with higher highs.

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Arihant Capital Markets Ltd

Published on 10/07/2019 9:39:03 AM

Equity

On the Daily Chart, we are observing that prices have taken support at the upward sloping trendline and has formed a candlestick pattern which resembles a” Hammer”

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Arihant Capital Markets Ltd

Published on 10/07/2019 8:53:40 AM

ARIHANT'S VALUE PLUS - JULY 2019

After three consecutive months in a row, Goods and Service tax (GST) collection dropped below the 1 lakh Cr mark. Gross GST revenues in the month of June stood at Rs.99,39,048 Cr compared to Rs.1,00,289 Cr in the month of May. In addition to this, auto sales continued to face pressure due to weak buyer sentiment. Passenger vehicle sales declined 16% YoY, while two wheelers sales witnessed a decline of ~12.5% YoY. Overall there was a clear sign of slowdown in the economic activity. Now that the ruling party has got a second term in office, markets are hoping the government will fix what is broken and infuse life into the economy.

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

In coming month if Nifty trades and close above 11883 level then it is likely to test 12023 – 12162 – 12325 levels. However, if Nifty trades and close below 11694 level then it can 11554 – 11415 – 11252 levels.

Broadly, we are of the opinion that the monthly trend still remains up and any corrective move near 11600 to 11500 should be viewed as buying opportunity for a target of 12023 – 12162 – 12325 levels.

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Arihant Capital Markets Ltd

Published on 9/07/2019 9:46:05 AM

Equity

On the Daily Chart, we are observing a downward gap area in the range of 11797 to 11771. Normally downward gaps areas do act as resistance for the prices going forward.

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Arihant Capital Markets Ltd

Published on 8/07/2019 9:22:41 AM

Equity -

On the Weekly charts, we are observing two consecutive narrow range body formations with higher high. This suggests that markets are cautiously positive at current levels. On the daily charts, we are observing strong bear candle with higher volumes. This suggests that momentum on the downside is likely to continue.

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