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KIFS Trade Capital

Published on 14/11/2019 10:17:57 AM

Bank Nifty

In last trading session bank nifty formed a bear candle with loss of 1.84%. If we do a sectoral analysis for last trading session PSU banks were major underperformers compared to private Banks by losing 3.14% and 1.77% respectively. Technically, as mentioned in previous reports, on hourly price chart bank index was unfolding into rising wedge pattern where the bears managed to breakout the first line of defense of 30850 level here on we may we may see bank nifty moving towards second support of 30000 level.

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KIFS Trade Capital

Published on 14/11/2019 10:17:39 AM

Nifty

The benchmark index continued its downtrend for third consecutive session and slipped below 11900 level. The overall market sentiment was weak as the economic growth data was disappointing. Technically, as mentioned in previous report nifty index moving in clear uptrend on lower and higher time frame. If we look mainly on hourly price chart we notice currently trend was escalating in upward moving channel where the bears were seen testing support of 11850 level if bears manage to close below the support level we may see further rally towards southern trajectory.

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KIFS Trade Capital

Published on 12/11/2019 9:50:30 AM

Market Outlook For 13 Nov 2019

Bank Nifty

The bank nifty started a week with positive sentiments and resumed its current uptrend trend by gaining 1.19%.If we do a sectoral analysis for last trading session private bank managed to outperform PSU Banks by gaining 1.38% and 1.17% respectively. Technically, as depicted in above given chart bank index is unfolding into rising wedge pattern where the defense line for bulls is placed near 31300 level if surpassed the given resistance we may see index moving at life time high level and the support will be placed near 30600 level.

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KIFS Trade Capital

Published on 12/11/2019 9:49:25 AM

Market Outlook For 13 Nov 2019

Nifty

The price action formed a small candle by gaining 0.04% in previous trading session. The overall market breadth was neutral with FMCG & IT sectors being major losers among all while media index managed to outperform the nifty 50. Technically, the key benchmark index is moving in clear uptrend on lower and higher time frame. If we look mainly on hourly price chart we notice current trend moving in upward moving channel where the bulls took support 11850 level while the defense line for bulls is placed near lifetime high of 12103 level.

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KIFS Trade Capital

Published on 11/11/2019 9:46:48 AM

Bank Nifty

In bank nifty bulls continued the walk on Friday’s trading session by gaining 0.38%. If we do a sectoral analysis for last trading session private bank were outperformer the bank index while PSU Banks was major underperform with loss of 1.89%. Technically, on daily price chart bank index manage to give intermediate trend line breakout 30300 level. Here if the bulls manage to sustain above 30300 level we may see further escalation towards northern trajectory where the current resistance may act as support. Investors are advised to buy on dips.

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KIFS Trade Capital

Published on 11/11/2019 9:46:32 AM

Nifty

On last trading session the nifty index gave up its efforts to scale up and witnessed a scale down after the news on global tension on Iranian drone attack. The overall market breadth was weak with maximum index closing in red. Technically, the key benchmark index is moving in clear uptrend on lower and higher time frame. If we look mainly on hourly price chart we notice current trend moving in upward moving channel where the line of defense for bulls is placed near 12100 level while the defense line for bears is placed near 11850 level.

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KIFS Trade Capital

Published on 7/11/2019 10:18:07 AM

Bank Nifty

Bulls kept the bears away from Dalal Street on Wednesday’s trading session by forming bull candle and gaining 1.29 % gain. If we do a sectoral analysis for last trading session private bank were outperformer while PSU Banks managed to underperform the bank index. Technically, on daily price chart bank index formed cup and handle pattern where the neckline resistance was placed near 30300 level where bulls managed to pierce through the neckline. Here on we may see further upward escalation towards 31000 level while support is placed near previous swing low.

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KIFS Trade Capital

Published on 7/11/2019 10:17:21 AM

Nifty

The key benchmark index raised a green flag on Wednesday by forming positive candle and gaining 48 bps. The market breath was weak despite of bullish sentiments where majority of index closed in green. Technically, if trend moves in 45 degree angle it is usually a strong trend which index is currently moving in, and as mentioned earlier the index is also forming mirror image. The resistance for bull is placed near 119600 level we may see further upward escalation towards 12200 level. While the first support is placed near 11750 level towards previous swing low.

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KIFS Trade Capital

Published on 5/11/2019 10:20:57 AM

Bank Nifty

In yesterday’s session bank index continued it’s up trend by gave a flat closing of 0.1 percent. If we do a sectoral analysis for last trading session PSU Banks were green with 0.69 percent of gain and Private Banks underperform bank nifty with loss of 0.12 percent. Technically, on daily price chart bank index formed inverse head and shoulder pattern where the neckline is placed at line 30420 level of bulls manage to surpass these neckline we may see further upward escalation towards 30850 level while support is placed near previous swing low.

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KIFS Trade Capital

Published on 5/11/2019 10:20:38 AM

Nifty

In last trading session bank index formed a weak bullish candle by gaining 0.43 percent. While the market breadth was strong, sectorially metal index was among major gainer with 2.84% while media index was among top loser with 3.34% loss. Technically, on daily price chart the index has formed mirror image where the last top is pending. If bulls continue to show strength and pass the resistance of 11980 level we may see further upward escalation towards previous life time high of 12103 level. While the first support is placed near 11700 level towards previous swing low

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