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Tradebulls Securities (P) Ltd

Published on 6/07/2020 10:26:07 AM

Nifty

Nifty has been oscillating within upward sloping channel while its corresponding RSI value has been declining. The pattern also resembles ‘Wedge’ formation characteristics. It has managed to close above its 200 DEMA of 10514 but with a Doji Star formation; the zone is also of major importance been the 61.8% retracement of its JAN-MAR fall. Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength. Hence its ideal to refrain from leverage longs & maintain a trailing stop strategy. Due to its overbought state fresh shorts are warranted only on a breakdown below 10300 with a follow through move below 10180 for a move towards 10000.

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Religare Broking Limited

Published on 6/07/2020 10:25:13 AM

Nifty Outlook

The Indian markets continued its positive momentum for the third consecutive session mirroring global peers. The Nifty index ended higher by 0.5% to close above 10,600 levels. On the sector front, except Banking and Metal, all the other indices ended with healthy gains wherein Telecom, IT and Auto were the top gainers.

Though the index is inching higher, the underperformance from the banking index is certainly hurting the sentiment. We advise maintaining a positive yet cautious stance and continuing with a stock-specific trading approach. Besides the global cues, the earnings announcement (Q1FY21E) from companies along with key macro indicators like IIP, WPI and CPI would be actively tracked by the investors.

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GEPL Capital

Published on 6/07/2020 10:24:07 AM

Derivatives Snapshot

Key Highlights:

* Nifty July Futures ended 32.75 points up @ 10572.45 with a discount of 34.90 points.

* Nifty futures open interest increased by 2.40 lakh shares with July series total open interest stands at 1.09 crore shares.

* Nifty 11500 call has highest OI, whereas 10000 put holds the highest OI and Banknifty 23000 call has highest OI and 20000 put has highest OI.

* Nifty 10600 call saw addition of 1.39 lakh shares in OI, whereas 10400 put saw addition of 1.30 lakh shares In OI.

* India VIX ended 2.79% down @ 25.77 against the previous close of 26.51

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SEBI Registration number is INH000000081.
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GEPL Capital

Published on 6/07/2020 10:23:49 AM

BANKNIFTY SPOT: 21852.40 (-0.46%)

DYNAMIC PARAMETER: Index formed Lower Top Lower Bottom pattern

TRADING ZONE:

Resistance: 22130 (Day High) / 22345 (2 Day High)

Support: 21768 (Day Low) / 21475 (Intraday Support)

VIEW: Bullish only above 22479 (Swing High)

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SEBI Registration number is INH000000081.
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GEPL Capital

Published on 6/07/2020 10:23:35 AM

Key Highlights:

The Nifty maintains Higher Top Higher Bottom formation on weekly charts….

NIFTY SPOT: 10607.35 (0.53%)

DYNAMIC PARAMETER: Nifty formed Hanging Man Candle pattern

TRADING ZONE:

Resistance: 10631 (Day High) / 10751 (9th Mar High)

Support: 10562 (Day Low) / 10485 (2 Day Low)

BROADER MARKET: MIXED, MIDCAP 15042 (0.66%), SMALLCAP 4706 (0.22%)

AdvanceDecline: 851 / 958

VIEW: Bullish till above 10553 (Previous Swing High)

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SEBI Registration number is INH000000081.
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Geojit Financial Services Ltd.

Published on 6/07/2020 10:22:42 AM

F&O OUTLOOK

Nifty outlook

FIIs boosted their index long future positions by nearly 12%,the fourth day of consecutive builds, while Index short future covering was limited to 2.8%. Meanwhile, along options, the highest build after the weekly expiry was seen along put longs which was boosted by 8.5%.

Along the broad market spectrum, 10600, the ATM found the highest liquidity among Nifty calls, but the largest jump in OI was seen in 11000 in the 09Jul weekly, while puts found the largest interest at 10400, exaggerating the positive bias. On the other hand,10600 found the highest position build among the monthly calls, while 11000 was the most liquid strike. However, from 10700 and upto 11500, short built was visible. Along puts, 10500 is the most liquid, while 10400 found the most short addition. However, on the whole, put strike activity is seen coming closer to spot, lending a volatility bias to the calls.

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SEBI Registration number is INH200000345

Geojit Financial Services Ltd.

Published on 6/07/2020 10:16:43 AM

Nifty Outlook:

Despite Friday witnessing flat trades centred around 10600, the continuation patterns visible through last week suggests that the opening moves could ride on the present momentum and aim for 10715-30. The 10900 view, with possible extension into 11200-11700 is still potent, but we will follow such levels with due acknowledgement to a bearish pattern emerging in the form of an ascending wedge.

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SEBI Registration number is INH200000345

HDFC Securities

Published on 6/07/2020 10:15:41 AM

Long Build Up Is Seen In The Nifty Futures  -  HDFC Securities   

F&O HIGHLIGHTS

REMAIN BULLISH WITH TRAILING SL OF 10500 LEVELS

* Nifty continued its winning streak for the third day in the row where it gained by 56 points to close at 10607 levels

* Long build up is seen in Nifty Futures’ where Open Interest rose by 2% with Nifty rising by 0.5%

* On the other hand, minor short build up is seen in the Bank Nifty Futures where we have seen 1% addition in the Open Interest with Bank Nifty falling by 0.5%

* Nifty Open Interest Put Call ratio fell to 1.50 levels from 1.61 levels. Amongst the Nifty Weekly Options(09-July) , Put writing is seen at 10400-10500 levels, Indicating Nifty is likely to find strong support around 10500 levels. On the higher side an immediate resistance is seen around 10700 levels where Calls have been written

* Long build up is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 504 Cr with their Open Interest going up by 4044 contracts.

* To Sum It Up, long build up in the Nifty Futures’, Put writing at 10400-10500 levels and long build up by the FIIs’ in the Index Futures segment Indicates that one should continue to remain optimistic for the markets.

* Therefore our advice is to accumulate long positions with the trailing stop loss of 10400 levels. On the higher side an Immediate resistance is seen around 10700 levels where we have seen call writing.

* In the Bank Nifty our advice is to go long with stop loss of 21700 levels. On the higher side, resistance is seen in the vicinity of 22500-22700 levels

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SEBI Registration number is INZ000171337

Swastika Investmart Ltd

Published on 6/07/2020 10:14:50 AM

Banknifty (Spot):

Banknifty is underperforming but today it could outperform due to strong business growth of HDFC Bank where 22500 is still a key hurdle for it and if it manages to cross this level then we can expect another 1000 points rally towards 23500. In the downside 20-DMA of 21160 is major support while 21900 will be an immediate and intraday support level.

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SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

Swastika Investmart Ltd

Published on 6/07/2020 10:14:37 AM

Technical Outlook:

Nifty (Spot):

The market is in bullish momentum and Nifty is likely to open above important hurdle of 10630 where 10751 will be next hurdle while 200-DMA will be a major hurdle which is currently placed at 10889 level. In the downside 10400 is immediate and strong support while rising 20-DMA is major support which is currently placed at 10205 level. 10600-10550 will be an intraday support zone.

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SEBI Reg. No. :  NSE/BSE/MSEI: INZ000192732

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