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Geojit Financial Services Ltd.

Published on 1/07/2020 11:59:52 AM

F&O OUTLOOK

Nifty outlook

Activity along weekly contract that is expiring today is centred around spot in calls, but 10000 remains a key and active strike for puts. Similarly for monthly contract, 10000 and 9500 remain key strikes with high put writing. Short addition is seen along 10400 and 11000, the two most active call strikes. FIIs added index future longs by 10.4%, and we had noted yesterday that the index future proportion had gone to critically low levels. This, however, has not lent any positive bias as yet, with FIIs building a strong position along index put longs, which was raised by 6% yesterday.

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Nirmal Bang Securities Pvt Ltd

Published on 1/07/2020 11:55:25 AM

Outlook on Nifty:

* Index is likely to open on a negative note today and is likely to remain range bound during the day.

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Nirmal Bang Securities Pvt Ltd

Published on 1/07/2020 11:54:45 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 10400, 10300, 10000 strike Puts and at 10300, 10400, 10500 strike Calls indicating index is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 11000 strike Call and 10000 strike Put, to the tune of 6.14mn and 7.25mn respectively.

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Nirmal Bang Securities Pvt Ltd

Published on 1/07/2020 11:51:15 AM

Bank Nifty:

Bank Nifty faces an immediate support around 21000 levels on the downside and on a decisive close below expect a fall to 20750-20500. There is an Immediate resistance at 21500-21790 levels.

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Nirmal Bang Securities Pvt Ltd

Published on 1/07/2020 11:50:58 AM

Nifty Technical Outlook

Nifty is expected to open on flattish note and likely to witness sideways move during the day. Technically, Nifty is facing a strong resistance of 10380-10460 levels. On the flip side 10240-10180 levels may act as support levels. Any move below 10180 may extend its fall towards 10110-10000. Overall view is cautious, avoid major long position and trade with strict stop loss.

Action: Nifty has an immediate support placed at 10240 and on a decisive close below expect a fall to 10180-10110 levels.

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GEPL Capital

Published on 1/07/2020 10:22:46 AM

BANKNIFTY: 21565 (194.85 i.e 0.91%)
HIGH: 21586.10 LOW: 21281.85
DYNAMIC PARAMETER: Index heading towards the previous session high.
SUPPORT ZONE: 21281.85 (Daily low) / 21026.45 (3 day low)
RESISTANCE ZONE: 21650.50 (Previous session high) / 21784.65 (4 day high)

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 1/07/2020 10:19:44 AM

NIFTY: 10343.55 (41.45 i.e 0.40%) 
HIGH: 10363.40 LOW: 10299.60
DYNAMIC PARAMETER: Index trading in the previous session range .
SUPPORT ZONE: 10267.35 (Previous session low) / 10194.50 (25th June low)
RESISTANCE ZONE: 10401 (Previous session high) / 10484.70 (intraday support level)

SEBI Registration number is INH000000081.
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Tradebulls Securities (P) Ltd

Published on 1/07/2020 9:29:38 AM

Nifty

Nifty has been hovering around the ‘Engulfing Bearish’ formation which occurred last week around the confluence zone of its 200 DEMA & 61.8% retracement of the JAN-MAR fall around 10551. The negative divergence displayed by its corresponding daily RSi value inline with the resistance zone of the ongoing channel pattern remains a concerning fact for the sustenance of the ongoing upmove. The pattern setup is yet another sign of diminishing strength & a breakdown below 10200 from hereon would confirm the bearish reversal pattern & commencement of the counter trend. Hence it looks ideal to utilize the ongoing rally to book profits in existing folio longs while trading positions should be adequately hedged. While fresh shorts could be deployed once the reversal formation even on the on the daily scale would get reaffirmed on a breakdown below 10200. Until then traders could retain long-short combo positions while the index rests within the range.

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Enrich Commodities India Pvt.Ltd

Published on 1/07/2020 9:26:59 AM

Technical outlook

Nifty fut daily chart has formed "Rising wedge" pattern. The last few sessions ended up in sideways mode inside the channel. The market is expected to continue on bullish momentum based on current price action, once the same breaks above a key resistance holding near 10400. The upside rally could be testing all the way up to 10550-10740 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode. Key support holds near 10180.

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SEBI Registration number is INZ000078632

Enrich Commodities India Pvt.Ltd

Published on 1/07/2020 9:26:19 AM

NIFTY MORNING OUTLOOK

Pre-Market Wednesday! Asian market positive trading, Nifty50 on the SGX were trading higher at 10229.50 +34.50 points on indicating gap up opening for the NSE.

At the close in NSE, the Nifty 50 lost 0.10%, while the BSE Sensex 30 index fell 0.13%.

The biggest gainers of the session on the Nifty 50 were Shree Cements Ltd., which rose 3.12% or 698.05 points to trade at 23040.00 at the close. Maruti Suzuki India Ltd. added 2.66% or 151.30 points to end at 5830.00 and ICICI Bank Ltd was up 2.59% or 8.90 points to 352.00 in late trade.

Biggest losers included Bharat Petroleum Corp. Ltd., which lost 2.50% or 9.60 points to trade at 373.75 in late trade. Power Grid Corporation of India Ltd declined 1.94% or 3.45 points to end at 174.80 and Sun Pharmaceutical Industries Ltd. shed 1.89% or 9.10 points to 472.90.

The breadth, indicating the overall health of the market, 1400 fell and 1198 advanced, while 122 ended unchanged on the India National Stock Exchange.

Rupee desk: The USD/INR was up 0.10% to 75.572.

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