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HDFC Securities

Published on 17/10/2019 11:31:31 AM

Nifty-Support & Resistance HDFC Securities

SUPPORTS:

Technical Supports – 11400 – 11290.

RESISTANCES:

Technical Resistances – 11508 – 11610.

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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.

HDFC Securities

Published on 17/10/2019 11:29:01 AM

Markets now needs some really good reason to challenge 11,496 HDFC Securities

The Nifty has done well to rise on five of the last six trading sessions. But for it to cross the Rubicon of 11,496 it will need a solid reason to do so.

The Nifty may have to wait for those reasons.

While the index has gone up, the market breadth has remained weak. For the past 12 sessions on the trot, the declines have exceeded advances. With Credit growth down and the Bank Nifty, a pale shadow of itself, the Nifty is not getting the support from its popular subIndex.

The U.S. markets were modestly lower on the news that the U.S. saw decline in September sales. One of the leading indicators of recession is three consecutive months of declining retail sales.

September was the first such month for the economy which is in the extra innings of its 10th year of a record expansion.

Besides, there are fears that China may show public defiance against legislation passed by the U.S

House of Representatives, in support of Hong Kong prodemocracy protesters. This may mean a crackdown on protestors or walking back on the in-principle trade deal agreed.

However, our markets have a reason to feel cheerful. Crude Oil prices, which rose 1% in official trade yesterday are down 1% in electronic trade.

The markets will digest two set of numbers from Reliance (Friday) and HDFC Bank (Saturday) when they get ready to open on Tuesday.

Life insurance companies are making new highs. This is a sector that we like because of two reasons 1. Under penetration of the markets and 2. FII sale proof sector. This is the sector in which FIIs have raised their holdings in the sector when they have sold others.

We believe the markets are likely to twiddle their thumbs but not break the 11,400 support.

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HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475.

GEPL Capital

Published on 17/10/2019 10:56:49 AM

*GEPL VIEW ON MARKET @ 10.30 AM:*
*NIFTY OCT FUT :* 11475 (+7.65 i.e 0.06%) 
*HIGH :* 11496.70 *LOW :* 11463.40 *ATP :* 11479
*DYNAMIC PARAMETER :* Index near yesterday’s close
*SUPPORT ZONE:* 11420 / 11350
*RESISTANCE ZONE:* 11525 / 11570

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

GEPL Capital

Published on 17/10/2019 10:56:33 AM

*BANKNIFTY OCT FUT :* 28640 (38 i.e 0.14%) 
*HIGH :* 28750 *LOW :* 28530 *ATP :* 28640
*DYNAMIC PARAMETER :* Inside day
*SUPPORT ZONE:* 28320 / 27200
*RESISTANCE ZONE:* 28840 / 29070

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

Angel Broking Pvt Ltd

Published on 17/10/2019 10:13:43 AM

Nifty Bank Outlook - (28538)

Bank Nifty Index too started on a positive note however after failing to cross its crucial resistance witnessed a slide and traded choppy for the most part of the session. Bank Index eventually ended flat with minor loss at 28538.

On the daily chart, Bank Nifty Index continues to trade within the broad range of 27560-28860 and yesterday it exactly faced resistance around the higher range. Going ahead next momentum move can only be seen on a range break from the above-mentioned levels and till then traders are advised to focus on stocks within the banking basket which are providing far better trading setup.

Click Here - https://bit.ly/32mul0R

Please refer disclaimer at http://www.angelsecurities.in/disclaimer.aspx

Angel Broking Pvt Ltd

Published on 17/10/2019 10:13:24 AM

Sensex (38599 ) / Nifty (11464)

Yesterday, once again our markets started on a positive note taking cues from the SGX Nifty. The index, however, lacked follow up move and witnessed slide to erase all the morning gains. It was a tiring session with a lack of momentum for the most part of the session however in the last hour Index bounced sharply from the lower levels to retest the opening levels and eventually ended with gains of 0.31% 11464.

On the daily chart, Index after forming a higher bottom at 11090 has gradually retraced 61.8% of the recent fall (11695-11090) at 11460. In the last couple of sessions, this key retracement level has acted as an intraday hurdle and on the daily chart, we are now witnessing ‘Dragon Fly Doji' pattern which indicates an uncertainty around the key level. On the weekly options expiry day, we expect Index to remain in a defined range of 11400- 11500 and only on a break from the same can trigger a momentum move. The bias remains positive until we see signs of weakness and traders are advised to continue to focus on individual stocks that are still providing better and more reliable trades.

Click Here - https://bit.ly/32mul0R

Please refer disclaimer at http://www.angelsecurities.in/disclaimer.aspx

Choice International Ltd

Published on 17/10/2019 9:53:20 AM

Bank Nifty Outlook

* On a daily chart, the Index has been trading in a Range Bound movement since the last Five Days and it seems that the ongoing movement might continue further until either side breakout gets to take place.

* However, the Index has managed to close above its 21 Days Moving Average which is placed at 28570 level based on which the Index might spurt in coming trading session.

* Apart from this, on a weekly chart, the Index has been trading with its strong support of 89 Weeks Moving Average along with the support of its Upward Rising Trend line which indicates a northward movement.

* A daily momentum indicator RSI reading is at 51.16 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 28860 while downside support comes at 28300 level

Click Here - https://bit.ly/2IXTQh5

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

Choice International Ltd

Published on 17/10/2019 9:52:57 AM

Nifty Outlook

* On a daily chart, the index has given a close above its 100 Days Moving Average which is placed at 11404 levels which shows a positive sign for the time being.

* Moreover, the Index has taken the support of its 61.80% Fibonacci Retracement level of its previous up move which again shows a bounce back movement.

* Even on a weekly chart, the Index has been trading with its strong support of 89 Weeks Moving Average which suggests that the trend is up and the Index may accelerate its upside movement.

* Apart from this, the Index has taken the support of its Lower Band of Upward Rising Channel formation which indicates a bounce back move.

* A daily momentum indicator RSI reading is at 58.05 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 11560 while downside support comes at 11400 level.

Click Here - https://bit.ly/2IXTQh5

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

Enrich Commodities India Pvt.Ltd

Published on 17/10/2019 9:47:19 AM

Technical outlook

Nifty daily chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways in trend after a gap up formation inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 11460. The upside rally could be testing all the way up to 11600-11800 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 11100 level. Key support holds at 11100.

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Enrich Commodities India Pvt.Ltd

Published on 17/10/2019 9:47:02 AM

Nifty Morning Outlook

 

Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 11475 +40 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 rose 0.77%, while the BSE Sensex 30 index gained 0.76%.

The biggest gainers of the session on the Nifty 50 were Eicher Motors Ltd., which rose 4.69% or 859.95 points to trade at 19199.10 at the close. Vedanta Ltd added 4.03% or 5.95 points to end at 153.50 and Zee Entertainment Enterprises Ltd. was up 3.17% or 7.70 points to 250.70 in late trade.

Biggest losers included Bharti Airtel Ltd., which lost 2.83% or 11.15 points to trade at 383.65 in late trade. Infosys Ltd declined 2.18% or 17.10 points to end at 768.30 and Bharti Infratel Ltd shed 1.27% or 3.30 points to 256.95.

The breadth, indicating the overall health of the market, 1304 fell and 1052 advanced, while 173 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.45% to 71.545.

Click Here - https://bit.ly/35GKpMV

Visit www.enrichbroking.com/research/