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Geojit Financial Services Ltd.

Published on 21/09/2020 10:39:25 AM

Nifty Outlook:

The 11450 objective was fully achieved last Friday. This was followed by a 70 point bounce in the closing hours, in line with our directionneutral stance. The week shall begin with the expectation of consolidation inside 11550- 11380 band, but the prospect of a breakout is likely to increase as the week progresses.

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SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 21/09/2020 10:38:15 AM

F&O OUTLOOK

Nifty outlook

In a U turn, FIIs cut their index future shorts by 24%,while boosting their longs by 8%, taking the proportion of the longs in the index future segment above 55%, a sharp lift from the sub4 7% prevailing last Friday. Meanwhile, in the broad spectrum, 11600 and 11500 were the most active strikes along CE and PE respectively. Call OI build was seen the highest along 12000 and put OI build the highest along 11250. A directional downside positioning is less evident here, while there is theta play as is to be expected, going into the expiry week.

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GEPL Capital

Published on 21/09/2020 10:21:53 AM

BANKNIFTY: 21911.50 (-119.55  ie  -0.54%)
HIGH: 22063.50 LOW: 21862
DYNAMIC PARAMETER: Index trading in the previous session range.
SUPPORT ZONE: 21784.90 (previous session low) / 21403 (17th August low)
RESISTANCE ZONE: 22100 (intraday resistance level) / 22469 (previous session high)
VIEW: BANKNIFTY looks bullish above 22500 (spot level)

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 21/09/2020 10:21:38 AM

NIFTY: 11495.05 (-9.90i.e -0.09%)
HIGH: 11530.90  LOW: 11477.
DYNAMIC PARAMETER: Index trading in the previous session range
SUPPORT ZONE: 11446 (previous session low) / 11383. (14th sept low)
RESISTANCE ZONE: 11530.90 (Daily high)/ 11618 (16th sept high)
ACTION: Wait for clear Trend confirmation

SEBI Registration number is INH000000081.
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Religare Broking Limited

Published on 21/09/2020 10:15:01 AM

Nifty Outlook

Markets ended almost unchanged amid volatility, in line with prevailing consolidation bias. After opening on the positive note, the benchmark hovered in a range for most of the session however sharp decline in the last hour of trade erased all its gains and pushed the index into negative territory. The sell-off was led by the banking and financial sector. The news of border tension was largely weighing on the sentiment. Amid all, Nifty managed to recover some of its losses and ended marginally down by 0.1% at 11,505 levels.

The broader markets ended in mixed with Midcap up by 0.3% and smallcap down by 0.3%. We feel markets may consolidate further amid mixed signals and traders have no option but to align their trades according to the trend. The fresh breakdown in the banking index has derailed the possibility of a directional up move in the Nifty, at least in the near future. On the downside, a decisive break below 11,400 in Nifty could result in a dip closer to the 11,200. We maintain our view to focus on the selection of stocks and positioning trades on both sides. We prefer defensive viz. pharma and IT for long trades while a rebound in banking and financials should be considered for short positions.

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Nirmal Bang Securities Pvt Ltd

Published on 21/09/2020 10:13:44 AM

Outlook on Nifty:

Index is likely to open on a negative note today and is likely to remain under selling pressure during the day.

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SEBI Registration number is INH000001766

Nirmal Bang Securities Pvt Ltd

Published on 21/09/2020 10:13:25 AM

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where addition in OI were seen in 12000 strike Calls while liquidation was seen in 11500, 11400, 11300 strike Puts indicating markets likely to remain under selling pressure in the near term.

* Highest OI build-up is seen at 12000 strike Call and 11000 strike Put, to the tune of 6.46mn and 6.18mn respectively.

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SEBI Registration number is INH000001766

Nirmal Bang Securities Pvt Ltd

Published on 21/09/2020 10:12:19 AM

Bank Nifty:

Bank Nifty faces an immediate support around 21750 level on the downside and on a decisive close below expect a fall to 21420-21100. There is an Immediate resistance at 22140-22360 levels.

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SEBI Registration number is INH000001766

Nirmal Bang Securities Pvt Ltd

Published on 21/09/2020 10:12:01 AM

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness profit booking during the day. On technical grounds, Nifty has an immediate support at 11440. Any move below the same may extend the fall towards 11370-11300 mark. On the flip side 11580-11650 will act as strong resistance zones. It’s a stock specific market and trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 11440 and on a decisive close below expect a fall to 11370-11300 levels.

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SEBI Registration number is INH000001766

Enrich Commodities India Pvt.Ltd

Published on 21/09/2020 10:10:48 AM

Technical outlook

Nifty fut daily chart has formed "Rising channel" pattern. The last few sessions ended up sideways along with some corrections inside the channel. The market is expected to continue on bearish momentum based on current price action, once the same break below a key support holding near 11450. The downside rally could be testing all the way up to 11300-11150 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode. Key resistance holds near 11600. A slide to 11750-11900 also a possibility if the price makes or break above the current resistance level.

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SEBI Registration number is INZ000078632

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