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Motilal Oswal Financial Services Ltd

Published on 3/07/2020 11:01:25 AM

Nifty Outlook

Nifty index opened gap up above 10450 zones and witnessed positive momentum towards 10600 levels. It surpassed recent swing high 10553 and made a highest levels of last 64 trading sessions since 9th march 2020. It formed a Bullish Candle on daily scale and has been making higher highs - higher lows from past three trading sessions. It has given a consolidation breakout of last eight trading sessions and also given a recent highest daily close near to 10550 zones. Index has been moving in a rising channel on daily scale by connecting swing lows of 7511, 9004, 9544, 9845, 10250, 10300 levels and supports are gradually higher. Now, it has to continue to hold above 10450 zones to witness an up move towards 10650 and 10800 zones while on the downside immediate support is seen at 10333 then 10250 levels.

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HDFC Securities

Published on 3/07/2020 11:00:48 AM

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

F&O HIGHLIGHTS

REMAIN BULLISH WITH TRAILING SL OF 10400 LEVELS 

* Nifty continued its winning streak for the second day in the row where it gained by 121 points to close at 10552 levels

* Long build up is seen in Nifty Futures’ where Open Interest rose by 0.5% with Nifty rising by 1.2%

* On the other hand, muted activity is seen in the Bank Nifty Futures where we have seen 0.4% addition in the Open Interest with Bank Nifty falling by 0.1%

* Nifty Open Interest Put Call ratio rose sharply to 1.62 levels from 1.43 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 10400 levels. On the higher side resistance is seen around 10600- 10700 levels where Calls have been written

* Short covering is seen by FIIS’ in the Index Futures segment where they net bought worth Rs 706 Cr with their Open Interest going down by 498 contracts.

* To Sum It Up, long build up in the Bank Nifty Futures’, rise in the Nifty open Interest Put call ratio on the back of Put writing at 10400-10500 levels and short covering 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 in the vicinity of 10600-10700 levels where we have seen call writing.

* In the Bank Nifty our advice is to remain bullish with the trailing stop loss of 21700 levels. On the upside, resistance is seen in the vicinity of 22400-22500 levels

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HDFC Securities

Published on 3/07/2020 10:59:44 AM

Markets could open flat to mildly higher following positive Asian markets ... -  HDFC Securities 

Indian markets could open flat to mildly higher today following positive Asian markets and muted US markets on Thursday. U.S. stock indexes ended a choppy session Thursday with meager gains to close out a holiday-shortened week, as a record rise in new coronavirus cases in states like Florida helped to erode some of the optimism surrounding a stronger-thanexpected monthly employment report for June. Markets also lost some momentum after a report indicated that a final-stage trial of a Moderna MRNA, -4.90% coronavirus vaccine candidate was delayed.

U.S. financial markets will be closed on Friday to observe the July Fourth holiday which falls on Saturday this year. WTI U.S. crude for August delivery settled at $40.65 a barrel on the NYME, up 2.1%, in part thanks to dwindling inventories. In precious metals, August gold futures rose $10.10, or 0.6%, to finish at $1,790 an ounce.

Labor Department data showed that the U.S. added back 4.8 million jobs in June compared with expectations for a rise of 3.7 million and the unemployment rate fell for the second straight month to 11.1%. The U.S. lost more than 22 million jobs during the height of the public-health crisis and only restored 7.5 million of them in the past two months.

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GEPL Capital

Published on 3/07/2020 10:47:02 AM

NIFTY: 10595 (44.05 i.e 0.42%) 
HIGH:*1010628.55 *LOW: 10564.90
DYNAMIC PARAMETER: Index trading above the 10550 mark.
SUPPORT ZONE: 10553.15 (24th June high) / 10300 (intraday support level)
RESISTANCE ZONE: 10650 (intraday resistance level) / 10751.50 (9th March 2020 high)

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 3/07/2020 10:46:51 AM

*BANKNIFTY: *21867.95 (-85.25 i.e -0.39%)
HIGH: 22130.30 LOW: 21814.40
DYNAMIC PARAMETER: Index trading below the previous session low.
SUPPORT ZONE: 21500 (Intraday support level) / 21281 (Intraday support level)
*RESISTANCE ZONE:*22130.30 (Daily high) / 22479.55 (24th June high)

SEBI Registration number is INH000000081.
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Swastika Investmart Ltd

Published on 3/07/2020 10:13:53 AM

Banknifty (Spot):

Banknifty still has the challenge to cross the hurdle of 22500 for further strength. If it manages to trade above 22500 level then 23500 will be the next important hurdle while in the downside 20-DMA is major support which is currently placed at 21150 level whereas 21750-21600 is an immediate support zone.

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Swastika Investmart Ltd

Published on 3/07/2020 10:13:41 AM

Technical Outlook:

Nifty (Spot):

Nifty has come above its important hurdle of 10550 where it may head towards 200-DMA which is currently placed at 10890 but there are many intermediate hurdles like 10630/10750. In the downside, 20-DMA will act as strong support which is currently placed at 10190 level while 10410 will act as immediate support.

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Religare Broking Limited

Published on 3/07/2020 9:58:35 AM

Nifty Outlook

The bulls continued to dominate as the benchmark indices registered strong gains for the second consecutive session. The move was led by upbeat global markets which further strengthened with favorable local cues. The Nifty index managed to surpass the critical hurdle of 10,550 levels and ended higher by 1.2%. The broader markets also performed in line with the benchmark as both midcap and smallcap ended higher by 1% each. On the sector front, except banking, all the other indices ended higher wherein Consumer Durables, Auto and IT were the top gainers.

We’re just mirroring the global markets and indications are favor of the prevailing momentum to continue. Since we’re currently seeing rotational buying across the sectors so traders should maintain their focus on stock selection. On the index front, we’re now eyeing 10,700 levels in Nifty.

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GEPL Capital

Published on 3/07/2020 9:46:25 AM

Derivatives Snapshot

Key Highlights:

* Nifty July Futures ended 131.40 points up @ 10539.70 with a discount of 12 points.

* Nifty futures open interest decreased by 0.37 lakh shares with July series total open interest stands at 1.07 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 2.45 lakh shares in OI, whereas 10200 put saw addition of 4.26 lakh shares In OI.

* India VIX ended 3.43% down @ 28.12 against the previous close of 29.12

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SEBI Registration number is INH000000081.
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GEPL Capital

Published on 3/07/2020 9:45:48 AM

BANKNIFTY SPOT: 21953.20 (-0.11%)

DYNAMIC PARAMETER: Index formed Higher Top Higher Bottom pattern

TRADING ZONE:

Resistance: 22344 (Day High) / 22479 (Swing High)

Support: 21700 (Intraday Support) / 21280 (Day Low)

VIEW: Bullish only above 22479 (Swing High)

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SEBI Registration number is INH000000081.
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