Angel Broking Pvt Ltd
Published on 22/05/2017 9:32:00 AM

Nifty Bank Outlook - (22770)

The Nifty Bank index traded in a range of 350 points during last week and ended with minor gains of 0.43 percent over its previous week's close.

On the weekly charts, the index has formed 'Doji' candlestick pattern in last two weeks, which indicates indecision amongst the minds of market participants. During these last two weeks, levels around 23000 had acted as a resistance for the index, and thus the bulls have a herculean task to take the index beyond 23000 to resume the uptrend. However, traders should note that the broader trend is up and hence, the advantage still remains with the bulls, inspite of last week's volatility. Hence, one should not pre-empt a significant corrective move unless the prices structure gives any definite signs. The index is expected to trade in the range of 22500-23000 and thus, traders should trade with positive bias with stop loss placed below 22500 on closing basis. The intraday supports for the Nifty Bank index are placed around 22628 and 22500 whereas resistance is seen in the range of 22900-23000

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Angel Broking Pvt Ltd
Published on 22/05/2017 9:31:33 AM

Sensex (30465) / Nifty (9428)

On Friday, we witnessed a gap up opening with a decent margin; but, as we generally see in such kind of market, all this early morning lead got sold into. In fact, during the day, the Nifty sneaked tad below the 9400 mark. However, the index managed to find some support at lows and hence, the Nifty eventually reclaimed this psychological support on a closing basis.

Similar to previous session, we witnessed a lot of stock-specific damage in the market. Fortunately on the index front, no major support has been violated. As mentioned in the earlier article, we would continue with the positive bias as long as Nifty manages to hold the important support of 9372. In fact, we are of the opinion that if there is any decent correction has to happened, it’ll most probably happen only after touching the magical figure of 9600. Considering the recent activity in individual stocks, traders are advised not to take aggressive positions in the market and one needs to be very selective while picking up individual stocks.

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Tradebulls Securities (P) Ltd
Published on 22/05/2017 8:57:59 AM

On the 180 min scale the theory of 'Resistance becoming Support' has been evident in the past. The ongoing sequence of higher tops & higher bottoms remain intact unless 9200 holds. The decline towards 9360-9260 zone could find meaning full support during the week while a breach only above 9540 would unleash strong bullish momentum. Hence broad ranged bound action within 9530-9260 could be witnessed during the week. Trading longs could be added near the value zone of 9360-9260 with a stop below 9200 with an expectation of a rebound beyond 9540 in the coming weeks.

Religare Securities Limited
Published on 22/05/2017 8:48:51 AM

Nifty Outlook

Nifty settled flat in a volatile session, continuing its consolidation phase. The early hour jubilation of the GST progression ended in no time and the index slipped into negative territory, taking note of negative global cues. Further, weakness in rupee against the dollar added to the pressure. While most sectoral indices ended lower, firm FMCG majors and recovery in the banking pack in the latter half helped index to close flat.

It’s more of global uncertainty which is haunting our markets and we feel it’ll stabilise soon. Meanwhile, traders should stay focused and keep their leveraged positions hedged. Mostly loses due to the volatility and the upcoming derivatives expiry will add to that. In short, focus on position management and wait for further clarity.

Plz refer disclaimer at  http://old.religareonline.com/research/Disclaimer/Disclaimer_RSL.html

Angel Broking Pvt Ltd
Published on 19/05/2017 10:54:37 AM

Nifty Bank Outlook - (22699)

The Nifty Bank index too opened gap down yesterday and traded with negative bias throughout the session. The index eventually ended the session with a loss of over a percent.

If we observe the daily chart of Nifty Bank index, it is seen that every corrective move in the Nifty Bank index in this calendar year have managed to take support near its '20 DEMA'. The price structure has not shown any indication of a reversal of the broader trend and hence, this could just be a corrective move within an uptrend. The '20 DEMA' for the index is placed around 22475, which should act as a crucial support. The risk reward ratio for fresh longs would be favorable around the mentioned support and thus traders should strategize the trades accordingly. The intraday supports for the Nifty Bank index are placed around 22578 and 22475 whereas resistances are seen around 22835 and 23000.

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Angel Broking Pvt Ltd
Published on 19/05/2017 10:52:53 AM

Sensex (30435) / Nifty (9429)

Yesterday, for the first time after March 22nd, our markets opened lower with a decent margin and eventually ended with a sharp cut of nearly 100 points on Nifty. Clearly, this was a rub off effect from the US bourses as we saw key indices there plunged overnight on the back of some political concerns with respect to their president Mr. Donald Trump.

Honestly speaking, we were not expecting this early morning damage to get escalated to such an extent. Now, technically speaking, we would continue with the positive bias as long as Nifty manages to hold the important support of 9372. Only a sustainable move below this level would apply brakes on ongoing optimism. However, as of now, we do not want enter this bandwagon. We would rather expect the index to reclaim the 9500 mark soon. Traders are advised not to take aggressive positions in the market and one needs to be very selective while picking individual stocks as the stock specific damage seen yesterday was quite threatening. Further, we would like to highlight that such kind of corrective days are evident now as markets have already rallied quite a lot and hence, one should not get too much worried of such developments in the market.

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GEPL Capital
Published on 19/05/2017 10:45:35 AM

Key Highlights:

Nervousness from global peers, makes NIFTY to cave in. Looses 100 points as heavyweight fatigue sets in .…

*  The NIFTY opened @ 9453.20, a GAP-DOWN by 73 points over Wednesday on the back of nervousness emitting from the global peers. The first hour saw some respite, as NIFTY moved up a bit till 9490 but was unable to hold onto it. A full RED day, the NIFTY caved in the end to close almost at day’s LOWS @ 9429.45 DOWN by 96.30 points or 1.01%.

*  The broader markets UNDERPERFORMED the benchmark NIFTY. While the NIFTY MID100 FREE closed DOWN by 2.27% to close @ 18030.25; the NIFTY SML100 FREE closed DOWN by around 2.35% to close @ 7457.25. The broader breakdown was pretty eminent in the breadth index that clearly stood with the BEARS @ 391 advances to 1345 declines. The INDIA VIX shot through the roof UP by around 12.45% to close @ 11.96.

*  The sectoral & thematic indices except for the NIFTY IT traded in the RED. The NIFTY REALTY & NIFTY METALS faced the brunt as each of them moved DOWN close to 3%.

*  The first cracks in the chunk of the BULLS armor seem visible. It would be worthwhile to see if the BEARS take it to logical conclusion of a DOWNMOVE till at least 9370-9290, in the current leg. Heavyweights like ICICIBANK, HDFCBANK amply supported by the IT PACK seem to hold back the real slide. The probability still remains OPEN for the NIFTY to move towards the pattern targets of 9670, subject to 9370 holding FORT. However, the heavyweights are once again getting into the churn with profit booking emerging in them in a rotational fashion. For the coming sessions, only a break below 9290 may bring in the DOWN-TREND in the short term, that may see index correction towards 9180/9075 levels . Till then it will be more of a stock specific move favoring the LARGE CAPS.

SEBI Registration number is INH000000081.
Please refer disclaimer at www.geplcapital.com/Disclaimer.aspx

Religare Securities Limited
Published on 19/05/2017 8:57:14 AM

Nifty Outlook

Markets, in line with global peers, reacted sharply to the news that the US President tried to influence federal investigation, raising doubts over his policies ahead. Mostly sectoral indices, barring IT, ended lower and settled around the day’s low. Besides, caution ahead of the beginning of the two-day GST meet also induced the participants to book some profit.

Markets are slightly overheated after the recent rally and finally got the reason to lighten up. We feel 9350 would be crucial mark in Nifty ahead and any decisive slide below that level will derail the momentum. However, traders should see this as intermediate correction, which is normal and healthy for sustainability of the broader trend.

Plz refer disclaimer at  http://old.religareonline.com/research/Disclaimer/Disclaimer_RSL.html

Tradebulls Securities (P) Ltd
Published on 19/05/2017 8:50:31 AM

Nifty loose firm momentum and tanks around 100 points from previous session’s close. It tested support of upward sloping trend channel and closed near the same in the end. The trend strength indicator (RSI) came out of an overbought state now on the daily scale.A breach below 9400 could distort the firmness & hence could seen as a strong support area. Momentum traders should maintained as a trailing stop strategy for existing shorts.

Please refer disclaimer at  Disclaimer https://www.tradebulls.in/Static/Disclaimer.aspx

GEPL Capital
Published on 18/05/2017 10:18:20 AM

Key Highlights:

NIFTY closes at FRESH all-time closing HIGH, as pattern targets towards 9670 still remain open. BULLS on rotational basis keep the momentum afloat .…

*  The NIFTY opened @ 9517.60, marginally UP by 5 points over Tuesday. The market initially seemed to draw under a bit of pressure, more to the rotational fatigue, as NIFTY traded in the RED for the first half creating a DIP to 9486. However the BULLS kept the momentum afloat as they maintained their rotational bias, pushing back NIFTY to create a FRESH all-time HIGH. Without much traction in the end, NIFTY shut shop at an all time closing HIGH if 9525.75 UP by 13.5 points or 0.14%.

*  The broader markets UNDERPERFORMED the benchmark NIFTY, yet only marginally. While the NIFTY MID100 FREE closed DOWN by 0.26% to close @ 18449.60; the NIFTY SML100 FREE closed DOWN by around 0.1% to close @ 7636.90. In line with the broader somberness, the breadth index stood evenstevens, @ 619 advances to 873 declines. The INDIA VIX remained flat, to move UP marginally by around 0.71% to close @ 10.6350.

*  The sectoral & thematic indices largely traded MIXED, with little exception of the move past the percentage mark. While the, the NIFTY METALS and NIFTY AUTO, continued RISING in strength; the PSU BANKS & IT saw some profit booking emerging.

*  Technically the dynamics largely remain the same, with the NIFTY on course towards the pattern targets of 9670. However, the heavyweights are once again getting into the churn with profit booking emerging in them in a rotational fashion. For the coming sessions, only a break below 9300 may bring in the DOWN-TREND in the short term, that may see index correction towards 9180/9075 levels . Till then it will be more of a stock specific move favoring the LARGE CAPS.

SEBI Registration number is INH000000081.
Please refer disclaimer at www.geplcapital.com/Disclaimer.aspx