IIFL Wealth Management Ltd
Published on 14/12/2017 11:41:01 AM

Federal Reserve officials did just what the street expected; they chose to increase interest-rates and raised their forecast for economic growth in 2018. The projection for three hikes in the coming year remains intact. The European Central Bank (ECB) is widely expected to raise its growth forecasts at its meet today. Meanwhile, India’s current account deficit doubled to US$ 7.2 billion in Q2 due to higher oil prices. The stock market witnessed a volatile session on Wednesday. The second phase of the Gujarat elections will kick in today. Asian stocks are higher, while US markets closed mixed. The assets under management of the mutual fund industry rose to a record high of Rs 22.79 trillion in November. On the macro front, the wholesale price index-based (WPI) inflation will be announced today .

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Choice International Ltd
Published on 14/12/2017 11:07:58 AM

Bank Nifty Outlook

* The overall market breath was negative and the Bank Nifty closed forming a bearish candlestick with a loss of 174 points at 25000.

* On the daily chart, the Bank Nifty is trading above 100 day exponential moving average which suggests that the short term trend is up.

* Moreover, the Bank Nifty has been trading with the support of its rising trend line on the weekly chart which suggests further bounce back can be witnessed.

*  Based on the above parameters, we are expecting a bounce back movement in the Index up to the level of 25500 while downside support comes at 24900.

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Choice International Ltd
Published on 14/12/2017 11:07:12 AM

Nifty Outlook

* The Nifty decline during the second half trading session ending at 10193 with a loss of 47 points.

*  The equity benchmark has been trading in a channel since past few weeks and either side movement can decide the direction of the index.

*  Moreover, the index managed to close marginally above its 50 days exponential moving average which suggests strength in the index.

* Based on the above parameters, we are expecting a bounce back movement in the Index up to the level of 10330-10350 while downside support comes at 10180.

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Enrich Commodities India Pvt.Ltd
Published on 14/12/2017 10:59:10 AM

Technical analysis

Nifty future daily chart has formed “Falling wedge” pattern. The last few sessions seem a bit consolidated near the channel’s resistance line which could be taken as a retesting level where market might have a chance to turn from positive to negative momentum. The downside rally could test 10250-10200 in the upcoming days. Resistance holds at 10350 and support at 10100. We recommend a Sell on rise near 10300-10330. Targets would be 10250-10200. Maintain stop loss at 10370 on closing basis.

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Enrich Commodities India Pvt.Ltd
Published on 14/12/2017 10:57:25 AM

NIFTY MORNING OUTLOOK

Pre-Market Thursday! Asian market positive territory Nifty50 on the SGX were trading at 10261 +39.5 points on indicating flat opening for the NSE. Equities were lower at the close on Wednesday, as losses in the Real Estate, Metals and Capital Goods sectors propelled shares lower.

At the close in NSE, the Nifty 50 lost 0.46%, while the BSE Sensex 30 index lost 0.53%.

The biggest gainers of the session on the Nifty 50 were Hindustan Petroleum Corporation Ltd, which rose 2.18% or 9.05 points to trade at 423.35 at the close. Indian Oil Corporation Ltd. added 1.53% or 6.05 points to end at 402.20 and Bharat Petroleum Corp. Ltd. was up 1.68% or 8.40 points to 506.30 in late trade. Biggest losers included Vedanta Ltd, which lost 3.12% or 9.15 points to trade at 283.55 in late trade.

Cipla Ltd. declined 2.05% or 12.15 points to end at 578.15 and Adani Port and Special Economic Zone Ltd shed 1.86% or 7.50 points to 394.00. The breadth, indicating the overall health of the market, NSE 1121 fell and 462 advanced, while 141 ended unchanged.

Rupee desk: The USD/INR DOWN 0.18% to 64.44.

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Angel Broking Pvt Ltd
Published on 14/12/2017 10:02:57 AM

Nifty Bank Outlook - (25000)

In yesterday's trading session, the index traded with a positive bias till noon. However, the pullback move was sold into as the index corrected sharply later and ended the session at 25000, registering a loss of 0.50 percent.

The stocks from the banking sector continued their underperformance as the short-term trend for the index is negative. In yesterday's session too, the Nifty Bank index witnessed selling pressure from the higher levels which was much on the expected lines. We continue with our cautious approach and still advice traders to avoid any bottom fishing. The short-term support for the Nifty Bank index is placed in the range of 24800-24900 whereas resistance is seen around 25270.

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Angel Broking Pvt Ltd
Published on 14/12/2017 10:02:25 AM

Sensex (33053) / Nifty (10193)

Yesterday’s move was as good as a roller coaster ride for our market participants. After the initial hour weakness, the index gave a sudden spurt to hasten towards the 10300 mark. And then post the midsession, we saw index falling like a pack of cards. In fact, within a blink of an eye we saw index back to 10200 levels.

If we just look at yesterday’s closing, one would say that not much damage done from previous day’s close. But, if we meticulously observe the intraday action, we can see lot of developments happening as the index came off nearly 130 points from days high in a flash. All these things go well with our recent cautious stance and hence, we continue to advise avoiding aggressive longs in the market. For the coming session, 10140 – 10100 levels are likely to be retested; whereas, on the higher side, 10230 – 10260 would now be seen as an intraday resistance zone.

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LKP Securities
Published on 14/12/2017 10:00:21 AM

Technical View

Nifty Spot Daily (10192.95) :- Nifty was volatile but in a range tried to clear 10303 but failed and crashed in the later part of the day and filled the gap at 10182. Nifty has managed to close below 10272 which show the market nervousness and signs of weakness before the big event lined up next week. For the day 10182 and 10303 is important range and either side trade will give then direction for coming week.

Bank nifty found hurdle at 25297 broke down lower support 25133-25003 but recovered and closed around it . 24886-24965 should act as support and on break will drop towards 24770. On the higher side 25044-25133 should act as hurdle. Today Weekly Expire so 25000 CE PE to watch out

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GEPL Capital
Published on 14/12/2017 9:53:30 AM

Key Highlights:

BULLS loose the momentum as NIFTY slips below 10200 level….

* The NIFTY opened @ 10236.60, a minor negative TICK of 4 points over Tuesday. In the early half, the Bulls had strong hold over the market so that Nifty made day’s high @ 10296.55 level. In the second half, Nifty shifted the gear and formed Lower Top Lower Bottom formation on intraday charts and eventually after that the Nifty breached important support of 10200 level in the final hour. To shut shop, Nifty closed @ 10192.95 DOWN by 47.20 points or -0.46%.

* The broader indices moved in tandem with the benchmark NIFTY, and on the losing side. While the NIFTY MID100 FREE closed DOWN by 0.96% to close @ 19754.90; the NIFTY SML100 FREE closed DOWN by 1.24% to close @ 8486.70. The broader move on an almost full RED day, stood clearly in favor of the BEARS, with 632 advances to 1169 declines. The INDIA VIX after the earlier week’s correction, saw a shot in the arm at higher levels once again, as it move UP by 4.47% in current session. It closed @ 15.9450 mark.

* The sectoral & thematic indices were back to their MIXED self. The NIFTY CPSE & NIFTY ENERGY saw some interest coming IN, while the favorite beating boys of last few days, namely NIFTY REALTY & NIFTY PSU BANK, saw further profit booking from earlier day.

* The NIFTY after moving UP by around 250 points over last week, has lost ground to a greater extent. It also establishes the Fibonacci levels of 10330, 10410 and the all time HIGH level of 10490 as important RESISTANCE levels. The dynamics are thus back to equilibrium, as although the markets have moved past 10300 on UPSIDE, it has failed to convincingly sustain above it. While the immediate SUPPORT remains @ 10180 (50% Fibonacci Retracement level of recent advances from 10033 to the immediate swing high of 10329) followed by the recent LOW @ 10033; the immediate RESIATANCES stand at swing HIGH @ 10330 followed by the next swing high of 10410 & then all time HIGH of 10490. Till then one needs to play BUY on DIPS & SELL on RISE with appropriate stop losses. Stock specific movement seems to be order of the day.

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Religare Securities Limited
Published on 14/12/2017 9:46:51 AM

Nifty Outlook

Markets were on a roller-coaster ride today and finally settled half a percent lower, citing weak macroeconomic data and caution ahead of the FOMC meet. Sentiment soured mainly in reaction to feeble IIP data and surge in retail inflation however, recovery in select index majors in the middle pared losses. It again fell sharply in last hours of the trade and ended lower, weighing down by weak global markets and expected rate hike by the US Fed.

Markets will react to the US Fed meet outcome in early trade tomorrow and then focus would again return to the Gujarat election. Participants are already under pressure and the recent breakout in the volatility index, India VIX, may further worsen the situation. Thus we suggest preferring only hedged trades and keeping a close eye on upcoming events.

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