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Choice International Ltd

Published on 12/07/2019 9:37:19 AM

Nifty Outlook

* On a daily chart, the Nifty has sustained above its 100 Days Moving Average which is a good sign for a bounce back movement.

* Moreover, the Index is also taking the support of its 11488 level which is a 61.80% Fibonacci Retracement level of its previous up move from 11108 level to 12103 level.

* On a weekly chart, the Index has been trading in an Upward Rising Channel formation which is a continuation pattern and suggests a northward movement.

* A daily momentum indicator RSI reading is at 41.65 level with a positive crossover, apart from this, the RSI is trending with its Upward Rising Trend line which points out for a positive breath in the Index.

* Based on the above technical structure, we are expecting that the Nifty may face strong resistance 11650 while downside support comes at 11520 level.

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HDFC Securities

Published on 12/07/2019 9:36:24 AM

Nifty-Support & Resistance - HDFC Securities

SUPPORTS: Technical Supports – 11520 – 11460.

RESISTANCES: Technical Resistances – 11625 – 11720

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

 

Enrich Commodities India Pvt.Ltd

Published on 12/07/2019 9:07:57 AM

Technical outlook

Nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up sideways in trend along with some corrections inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 11630. The upside rally could be testing all the way up to 11720-11800 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 11450 level. Key support holds at 11450.

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Enrich Commodities India Pvt.Ltd

Published on 12/07/2019 9:07:45 AM

NIFTY MORNING OUTLOOK

Pre-Market Friday! Asian market positive trading, Nifty50 on the SGX were trading lower at 11574.50 -7.50 points on indicating gap down opening for the NSE.

At the close in NSE, the Nifty 50 rose 0.73%, while the BSE Sensex 30 index added 0.69%.

The biggest gainers of the session on the Nifty 50 were Zee Entertainment Enterprises Ltd., which rose 7.59% or 25.25 points to trade at 354.80 at the close. JSW Steel Ltd added 4.96% or 12.65 points to end at 267.30 and Hero MotoCorp Ltd was up 4.59% or 110.05 points to 2507.80 in late trade.

Biggest losers included Tech Mahindra Ltd, which lost 1.41% or 9.50 points to trade at 665.70 in late trade. Bajaj Auto Ltd declined 1.22% or 33.40 points to end at 2711.70 and ICICI Bank Ltd shed 1.17% or 5.05 points to 426.55.

The breadth, indicating the overall health of the market, 1180 rose and 1156 declined, while 148 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.08% to 68.455.

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KIFS Trade Capital

Published on 12/07/2019 8:54:33 AM

Bank Nifty

The benchmark index Bank nifty managed to close in positive territory by 194 points. PSU and private banks closed in green though PSU banks managed to outperform private banks. On technical front bank nifty is seen moving in downward sloping channel where major line of defense is placed near 38.2 percent Fibonacci retracement level if bulls manage to break through this resistance further upward escalation can be witnessed, fail to do so, we may experience the rally towards southern trajectory.

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KIFS Trade Capital

Published on 12/07/2019 8:54:21 AM

Nifty

Mirroring the Asian market Indian indices opened on gap up note and continued to perform better throughout the day. All the sectors closed in green indicating positive movement indicating but to be specific media sector were outperformed the key benchmark index. On daily price chart nifty was seen moving in tight range of 11600 in north and 11450 in south from past three trading sessions. If bulls managed to take out the first line of defense placed near 11600 then we may see the further escalation towards 11660 where the 38.2% Fibonacci retracement has been placed.

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Ventura Securities Ltd

Published on 12/07/2019 8:52:40 AM

Dow+228, Nasdaq-6, Nikkei+10, SGXNifty 11573(-9). Yday FIIs-317cr in Cash,+1442cr in FNO. DIIs+720cr in Cash. Tdy DHFL, IDBI, RelCapital, RelInfra in ban period in FNO. 

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LKP Securities

Published on 12/07/2019 8:51:42 AM

Index closed a day at 11583 with gains of 84 points and formed small bullish candle, index has given small double bottom pattern breakout on hourly chart suggesting some more upside in index. Immediate support for nifty is coming near 11535-11460 zone holding said levels index can see some push towards resistance of 11650-11700 zone. Nifty bank has support near 30550-30400 zone and resistance is coming near 31850-31080 zone.

Kedia Commodities

Published on 12/07/2019 8:37:45 AM

KEDIA: EQUITY DAILY LEVELS

NIFTY FUT R: 11944 - 12067 - 12135 S: 11753 - 11685 - 11562

BANK NIFTY FUT R: 31703 - 31902 - 32077 S: 31329 - 31154 - 30955

Religare Securities Limited

Published on 11/07/2019 10:52:55 AM

Nifty Outlook

The Indian markets ended on a negative note despite firm global cues as fresh tariff threats from US caused volatility. After opening higher, Nifty index soon erased the gains and closed lower at 11,499 (down 57 points). Amongst the broader market indices, ‘BSE Midcap’ and ‘BSE Smallcap’ too ended lower by 0.8% each. Amongst the sectoral indices Realty, Capital Goods, Metal and Auto were the biggest losers in the range of 1.1-1.7%.

We expect the markets to remain choppy in the near term in the backdrop of weak domestic as well as global cues. Given the economic slowdown we expect the earnings season to be tepid which will lead to stock specific volatility. On the global front, on-going geo-political issues between US and Iran, US-China trade war as well as crude oil prices and currency movement will keep the market participants on edge.

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