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HDFC Securities

Published on 11/07/2019 10:41:53 AM

Nifty-Support & Resistance - HDFC Securities

SUPPORTS: Technical Supports – 11460 – 11407.

RESISTANCES: Technical Resistances – 11625 – 11720.

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

GEPL Capital

Published on 11/07/2019 10:39:07 AM

*BANKNIFTY JUL FUT :* 30650 (147 i.e 0.50%) 
*HIGH :* 30718.65 *LOW :* 30600 *ATP :* 30660
*DYNAMIC PARAMETER :* INDEX holding the key support near 30400. 
*SUPPORT ZONE:* 30570 / 30400 
 *RESISTANCE ZONE:* 30800 / 30910  

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 11/07/2019 10:38:48 AM

 *GEPL VIEW ON MARKET @ 10.15 AM:*

*NIFTY JUL FUT :* 11567 ( 67 i.e 0.51%) 
*HIGH :* 11569.90 *LOW :* 11528.15 *ATP :* 11549.55
*DYNAMIC PARAMETER :* INDEX near the key support of 11425. 
*SUPPORT ZONE:* 11515 / 11465  
*RESISTANCE ZONE:* 11595 / 11630

SEBI Registration number is INH000000081.
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HDFC Securities

Published on 11/07/2019 10:28:37 AM

POWEL HINTS AT A RATE CUT HDFC Securities

Nasdaq closed at a record high and the S&P 500 briefly topped the 3,000 milestone for the first time history as the Fed Chief Jerome Powell indicated interest rates cuts may be imminent in the face of some weakening economic data.At session highs, all the three US indices marked new records.

Finance minister has clarified that there is no question of rolling back surcharge on FPI trusts. Some market participants were hopping against the hope of some relaxation in the new surcharge.

Conducive global cues will help our markets open higher today. Axis bank has appointed investment bankers to raise $1.3 billion. The new capital will help the bank power growth in loan book. DHFL lenders will meet today to discuss a resolution plan. If they find debt unsustainable and decides to take a haircut on the loans, that will have severe repercussion for shareholders.

Nifty has corrected 500 points in past four sessions. It is trying to find its feet near current levels, but three is a strong barrier at 11625 for the short term. The quarterly results season has started and growth in Nifty’s earnings is dependent on banking sector. Banks has a wherewithal to power Nifty past barriers –so pay very close attention to the Indusind bank’s results due tomorrow.Nifty has strong support between 11400 - 11500 zone and it is unlikely to breach that level easily this week.

Axis Bank appoints bankersfor US$ 1.3bn share sale

Axis Bank has appointed investment banks Citigroup, JPMorgan and its investment banking arm Axis Capital to help it raise up to US$ 1.3 billion through a share sale, according to sources.

The bank plans to raise the funds through a qualified institutional placement (QIP) offering by selling shares to institutional investors. It will help the bank shore up its capital adequacy ratio and push for lending growth.

The bank informed that its board will meet on 20 July to explore fund raising options.

For Complete Report And Disclaimer Click Here- https://bit.ly/2S7icIE

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

Angel Broking Pvt Ltd

Published on 11/07/2019 10:20:00 AM

Nifty Bank Outlook - (30522)

The index consolidated in yesterday trading session too end ended the day marginally negative. The index outperformed the benchmark (Nifty) index yesterday owing to strength in some of the index heavyweights. However, given the recent correction, traders are advised to stay light on positions and trade with proper risk management. The immediate resistance on pullback moves is seen in the range of 30680 - 30730 whereas supports are placed around 30345 and 30222.

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Angel Broking Pvt Ltd

Published on 11/07/2019 10:19:45 AM

Sensex (38557) / Nifty (11499)

Tuesday’s bounce from the lower levels was short lived as our markets witnessed a weak opening and after trading in a range for the most part of the session eventually ended with a loss of around half a percent tad below 11500.

On the daily chart, Index for the last two sessions is hovering on a confluence zone of support formed by (i) 61.8% retracement of the recent rally (11108 – 12103), (ii) Trend line joining higher lows and (iii) The vicinity of the bullish gap formed after exit poll. Due to the sharp sell-off after the Budget, the bears are having an upper hand however holding the above key levels is of high significance and is providing the last ray of hope for the bulls. Going ahead 11420-11440 range can be taken as a sacrosanct level whereas on the flip side, support turned resistance around 11600 is acting as stiff resistance since last two days. We reiterate our view that Index is likely to remain in range 11420 – 11630 and traders are advised to have a stock –specific trade with not so aggressive approach.

 

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Enrich Commodities India Pvt.Ltd

Published on 11/07/2019 9:43:08 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 bearish momentum, once the same breaks below a key support holding at 11460. The downside rally could be testing all the way up to 11380-11300 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 11700 level. Key resistance holds at 11700.

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Enrich Commodities India Pvt.Ltd

Published on 11/07/2019 9:42:45 AM

NIFTY MORNING OUTLOOK

Pre-Market Thursday! Asian market positive trading, Nifty50 on the SGX were trading higher at 11542 +47.50 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 declined 0.49% to hit a new 1-month low, while the BSE Sensex 30 index lost 0.45%.

The biggest gainers of the session on the Nifty 50 were Yes Bank Ltd, which rose 2.08% or 1.90 points to trade at 93.00 at the close. Coal India Ltd added 1.70% or 3.90 points to end at 233.35 and Sun Pharmaceutical Industries Ltd. was up 1.05% or 4.05 points to 392.20 in late trade.

Biggest losers included Bajaj Finance Ltd, which lost 5.11% or 184.10 points to trade at 3429.05 in late trade. Indiabulls Housing Finance Ltd declined 4.28% or 29.40 points to end at 659.60 and Bharat Petroleum Corp. Ltd. shed 2.85% or 10.25 points to 349.60.

The breadth, indicating the overall health of the market, 1447 fell and 904 advanced, while 137 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.03% to 68.570.

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Choice International Ltd

Published on 11/07/2019 9:28:40 AM

Bank Nifty Outlook

* During yesterday’s trading session, we haven’t seen any volatile move however range was too low that it was between its previous day’s range which doesn’t indicate any particular direction.

* The BankNifty has been trading below its 21 Days Moving Average which shows a negative rhythm in the Index.

* However, it has good support of its recent bottom which is placed at 30220 level which suggests a bounce back move can be seen if BankNifty approachesthe said level.

* A daily momentum indicator RSI reading is at 43.75 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure on a chart, we expect that the Nifty may face a resistance at 30900 level while downside support comes at 30220 level.

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Choice International Ltd

Published on 11/07/2019 9:28:03 AM

Nifty Outlook

* On a daily chart, the Index didn’t break its previous day’s low which is a positive sign for bounce back movement after giving a healthy correction from 11982 level.

* Moreover, the Index has halted its correction at 11485 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 Nifty still has strong support of its lower band of Upward Rising Channel formation which again suggests a bounce back movement.

* A daily momentum indicator RSI reading is at 36.55 level with a negative crossover which points out for a negative breath in the Index.

* Based on the ongoing structure on a chart, we expect that the Nifty may face a resistance at 11600 level while downside support comes at 11450 level.

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