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ICICI Securities

Published on 15/07/2019 11:00:08 AM

Derivatives View (July 15): Sell Nifty in range of 11570-11590; Sell Bank Nifty in range of 30650-30700…

Nifty

The Nifty is likely to open flat on the back of mixed global cues. Sell Nifty in the range of 11570-11590 Target: 11554-11528, Stop loss: 11606.

Bank Nifty

The Bank Nifty opened gap up and made a high of 30848. However, it could not hold on to gains and drifted lower due to selling in leading private and PSU banks. Looking at weekly option data, 30500 Put has maximum OI that should act as support on downsides. However, on upsides, significant OI is distributed from 30700 to 31000 Call strikes suggesting any rise will be utilised to sell at higher levels.Sell Bank Nifty in the range of 30650-30700, Target: 30550-30450, Stop loss: 30800

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ICICI Securities

Published on 15/07/2019 10:58:33 AM

Opening Bell (July 15)

Indian markets are expected to start on a flattish note on the back of weak global cues. Domestic earnings and global newsprint to remain as key monitorable ahead.

Domestic markets ended lower on the back of rising oil prices and worries over US-China trade tensions. US markets ended in the positive zone due to sustained optimism surrounding interest rate easing by the Federal Reserve.

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Geojit Financial Services Ltd.

Published on 15/07/2019 10:53:37 AM

NIFTY OUTLOOK:

Consolidation might continue within 11400-11700

Put writing at 11400 and Call writing at 11700 hints that the index suggesting that the immediate trading range is between those strikes. Unwinding of Put open interest from 11300 strike and other OTM strikes suggest that expectations of a big fall is being narrowed down for the time being.

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SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 15/07/2019 10:53:26 AM

F&O OUTLOOK

REVIEW:

Nifty index futures closed 0.33% lower at 11544.35 on Friday. Open interest also declined by 6.4 lakh contracts indicating unwinding of longs. Cost of carry continued to languish at a discount and closed lower at 8.15 from 0.85. Even though both Nifty Put and Call options witnessed decline in open interest; a higher decline in Calls (by 25.7%) led the PCR OI higher from 1.03 to 1.15. India VIX closed lower at 12 from 12.47.

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SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 15/07/2019 10:47:35 AM

Nifty Outlook:

Expect attempts to push higher as long as 11490 holds, with an upside limit of 11660. A break of 11660 would trigger moves aiming 11721/11783. However any dip below 11490 would induce sharp falls.

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GEPL Capital

Published on 15/07/2019 10:27:35 AM

*BANKNIFTY JUL FUT :

* 30485 (-115 i.e -0.37%) 
*HIGH :* 30699.95 *LOW :* 30455 *ATP :* 30541
*DYNAMIC PARAMETER :* INDEX holding the key support near 30400. 
*SUPPORT ZONE:* 30400 / 30275 
 *RESISTANCE ZONE:* 30550 / 30700  
 

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 15/07/2019 10:27:07 AM

*GEPL VIEW ON MARKET @ 10.15 AM:*

*NIFTY JUL FUT :

* 11563 (+18 i.e +0.16%) 
*HIGH :* 11599.90 *LOW :* 11546.65 *ATP :* 11572
*DYNAMIC PARAMETER :* INDEX near the key support of 11525. 
*SUPPORT ZONE:* 11525 / 11465  
*RESISTANCE ZONE:* 11645 / 11770

SEBI Registration number is INH000000081.
Please refer disclaimer at www.geplcapital.com/Disclaimer.aspx


 

Angel Broking Pvt Ltd

Published on 15/07/2019 10:10:51 AM

Nifty Bank Outlook - (30587)

After a sharp correction at the start of the week, the Nifty Bank index consolidated in a range for rest of the session and ended the week with a loss of 2.78 percent over the previous week's close. A sharp down move followed by a consolidation phase has led to formation of a 'Bearish Flag' pattern in the Nifty Bank index on the daily chart. The mentioned pattern is a bearish continuation pattern and a breakdown below 30548 (neckline of the pattern) could provide upper hand to the bears in the coming week. If the mentioned support is broken, then the index could correct towards its immediate support zone of 30450-30350. Although the mentioned pattern hints at probability of further cuts, we will re-access the same when the index approaches this range. On the flipside, Friday's high which coincide with the '20 DEMA' at 30870 needs to be taken out to negate this bearish pattern. Hence, traders are advised to stay light on positions and be vigilant on the above mentioned scenarios.

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Angel Broking Pvt Ltd

Published on 15/07/2019 10:10:38 AM

Sensex (38736 ) / Nifty (11552)

Post the Budget announcement, market participants looked disappointed, which triggered this massive sell off, especially in some of the marquee outperformers. To make it worse, we had a decent gap down on Monday which accelerated as the day progressed. Eventually, Monday’s session turned out to be the weakest day of the current calendar year. Fortunately, this mayhem got arrested on the following day and then we witnessed a mild recovery throughout the remaining part of the week to eventually conclude with a cut over a couple of percent

Last week’s low of 11461 holds lot of significance because it coincides with multiple technical evidences such as, (i) 61.8% retracement of recent rally (11108 – 12103), (ii) Trend line joining previous lows and (iii) The vicinity of the bullish gap formed after exit poll numbers. For a time being, market has respected this crucial junction but going ahead, it would be important to see how index behaves around it. In case of a breakdown below 11460 – 11430, the selloff is likely to escalate to test lower levels 11250 - 11230 or even a move towards May lows (11108) cannot be ruled out. So till the time we are above it, there is still a final ray of hope for the bulls. However, on the upside, previous support of 11640 is now acting as a sturdy wall. Hence, if index has to regain any strength, it needs to convincingly surpass this hurdle of 11640 - 11700. For a time being, 11430 – 11640 would be seen as a crucial range for the index

At present, traders are advised to stay light and avoid taking any undue risks. As mentioned in the above section, any existing longs should be exited if index breaches key support of 11460 – 11430 convincingly. On the sectoral front, there were some notable moves seen in the Auto and Metal spaces towards the latter half of the week. So if market manages to hold its support, we would see sharp pull backs in these names. Also, midcap index had an encouraging move despite the benchmark tumbled in the final hour. Do watch out for this universe as well.

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Ventura Securities Ltd

Published on 15/07/2019 10:04:34 AM

Dow+244, Nasdaq+48, Nikkei closed, SGXNifty 11585(+39). On Fri, FIIs-850cr in Cash,+467cr in FNO. DIIs+940cr in Cash. Tdy DHFL, IDBI, RelCapital, RelInfra in ban period in FNO. VENTURA

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