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KIFS Trade Capital

Published on 19/07/2019 9:11:44 AM

Bank Nifty

Observing last trading session benchmark index closed forming red candle with 304 basis points. PSU Banks and Private Banks both gave negative indication though PSU banks were major underperformers as compared to private banks. As mentioned earlier technically bank nifty is moving in range bound movement. In tug of war between bulls & bears if bears managed to cross 30334 level further escalation towards south can be witnessed and if bulls managed to cross 30870 level positive movement is to be expected in bank nifty.

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KIFS Trade Capital

Published on 19/07/2019 9:11:28 AM

Nifty

The key benchmark index performed negatively with 90 basis points in previous trading session. The overall sectorial analysis states negative closing in all sectors except financial services and Media sector which were the outperformers. On technical front Nifty was seen moving in upward moving channel on smaller time frame. It is very crucial support for to acknowledge as bears were seen testing the first line of defense and if they managed to break level of 11582 further downward escalation will be witnessed.

 

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KIFS Trade Capital

Published on 18/07/2019 8:54:56 AM

Bank Nifty

Yesterday’s trading session Bank nifty outperformed the key benchmark index. Rally is mainly driven by PSU banks whereas PVT Bank were the laggards. As depicted in the chart on the lower time frame chart bank nifty is oscillating in the horizontal consolidation where the overhead resistance placed near 30900 in the proximity of 38.2% Fibonacci retracement of the previous fall. Firs line of defense placed near 30900 if bulls manage to takeout the mentioned level then only we may see the further escalation towards 31500 mark.

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KIFS Trade Capital

Published on 18/07/2019 8:54:40 AM

Nifty

Following global cue Indian market opened on flat to positive note and gain the momentum and mange to land in positive territory. Sector specific PSU Bank and FMCG were outperforming the key benchmark index, whereas AUTO and PHARMA were laggards in the market.in the recent scenario on the lower time frame chart key benchmark index oscillating in a escalating channel where it took the resistance of channels overhead resistance as well as 50% Fibonacci retracement of the previous fall. Traders are advice to wait for the further confirmation for the next leg of up move

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KIFS Trade Capital

Published on 17/07/2019 9:08:08 AM

Bank Nifty

Observing last trading session benchmark index closed forming green candle with 124 basis points. PSU Banks and Private Banks both gave positive indication though PSU banks were outperformer as compared to private banks. Technically bank nifty is stirring in upward moving channel as well as on daily price chart bullish harami pattern was formed indicating bulls are taking charge. The first line of defense for bulls is placed 30700 level while support for index is placed near 30340 level. Rather going for directional view on bank nifty one should look for stock specific action.

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KIFS Trade Capital

Published on 17/07/2019 9:07:54 AM

Nifty

The key benchmark index performed positively with 74 basis points in previous trading session. The overall sectorial analysis states positive closing in all sectors except IT sectors and Media sector which were the only underperformers while realty and pharma sectors were major outperformers. On technical front nifty was seen moving in upward moving channel on bigger time frame. The bulls were seen testing the resistance which was placed near 11660 that is 38.2% on Fibonacci retracement level, further escalation up to 11722 will be seen if bulls managed to break resistance.

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KIFS Trade Capital

Published on 16/07/2019 10:49:12 AM

Bank Nifty

On yesterday’s trading session PSU dragged the indices down and underperformed the key benchmark index. The benchmark index saw a major selling pressure irrespective of government’s initiative taken for banking sector. In last trading session we observed PSU banks managed to outperform while private banks were underperformers. On daily price chart bank nifty was consolidated in tight range of 30200 to 31700 oscillating in a symmetrical triangle pattern, breakout on either side will decide a trend for upcoming week.

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KIFS Trade Capital

Published on 16/07/2019 10:48:39 AM

Nifty

Following global market cues Indian market opened on the positive note. Sector specific IT was the outperformed after the IT leader INFY reported the good quarterly numbers, whereas PSU were the laggards in the market. In recent scenario benchmark index Nifty is trading in the range of 11660 and 11450 on the lower side. Trader are advice to rather going for directional view on the indices one should look for stock specific action. Last week nifty took resistance in the proximity of 38.2% Fibonacci retracement near 11660 the would act as a strong resistance. And if bear are manage to take out the 11450 mark we may see the further escalation towards 11300.

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KIFS Trade Capital

Published on 15/07/2019 8:57:00 AM

Bank Nifty

First week after budget Bank nifty gave negative performance of 874 basis points on weekly over view. The benchmark index saw a major selling pressure irrespective of government’s initiative taken for banking sector. In last trading session we observed PSU banks managed to outperform while private banks were underperformers. On weekly price chart bank nifty was consolidated in tight range of 30200 to 31700 oscillating in a symmetrical triangle pattern, breakout on either side will decide a trend for upcoming week.

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KIFS Trade Capital

Published on 15/07/2019 8:56:43 AM

Nifty

The key benchmark index nifty is trading in between broader price range post-election result day [May 23] when index moved in range of 11450 to 12090. After budget announcement nifty gave up its efforts to scale up and witnessed a sharp crack around 258 points in last week. FMGC sector and private banks closed in negative while rest sectors saw positive movement, metal and realty sectors were major gainers. Overall market breath seemed week. Technically on daily price chart resistance for nifty is placed near 11660 which is Fibonacci retracement of 38.2 percentage and support is placed near 11514.

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