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KIFS Trade Capital

Published on 14/09/2019 5:43:15 PM

Market Outlook 16 September 2019

Bank Nifty

On last trading session bank nifty resumed the recent uptrend and raised above 28000 level where private bank mirrored bank nifty’s percentage gained and performed well compared to PSU banks. Technically on lower time frame bank nifty has formed a bullish engulfing pattern indicating upwards move, if bulls manage to take power and sustain the recent pullback we may see upward escalation where the the crucial resistance is placed near 28600 level which is in proximity of 200 day moving average. While support will be placed near 27300 level.

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KIFS Trade Capital

Published on 14/09/2019 5:42:45 PM

Market Outlook 16 September 2019

Nifty

On last trading day the key benchmark index formed a bullish candle with gain of 93 basis points and closed above 11000 level. The overall market breadth was positive as majority index closed on optimistic note at the end of week except pharma sector underperformed the index. On technically front, mainly on daily price chart as mentioned earlier nifty 5o index is seen forming an inverse head and shoulder pattern where neckline breakout is still pending. If bulls mange to surpass the neckline we may see upward rally towards 11500 level

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ICICI Securities

Published on 13/09/2019 5:36:47 PM

Bank Nifty: Current leg of short covering likely to continue

* The Bank Nifty managed to sustain above 27500 for a second day in a row and moved above its highest Call base of 28000 on the back of participation in private banks. Participation was also seen by PSU bank leader like SBI followed by PNB, which provided a sentimental boost

* IVs rose sharply and moved towards 18%, which is one of the sharpest spikes seen in the past five months. However, on the back of huge writing in OTM Put strikes, choppiness was seen in IV. It fell below 14.5%. We feel IVs are likely to remain choppy in the coming week, which will attract Put writing in coming sessions

* Call closure was seen in most private sector heavyweight banks, which is likely to provide more steam in the coming days. Selling pressure from FIIs has reduced sharply in the past few days along with stability in the rupee near 71 levels. We feel upsides are likely to continue as Call writers will cover their short positions

* The current price ratio of Bank Nifty/Nifty has reverted from its February low of 2.47. We feel that on the back of short covering in banking stocks, the ratio could move towards 2.55 levels

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ICICI Securities

Published on 13/09/2019 5:36:01 PM

Nifty: Recovery to continue with support near 10950

* The Nifty recovered more than 1% in the last week and gave its highest weekly closing in a month on the back of value buying among beaten down stocks. The expectations of US-China trade deal also helped sentiments as midcap and small cap indices gained more than 2% each during the week

* On the data front, the highest Put base for the Nifty is at 11000 strike. The Nifty has largely remained above these levels last week. We expect 10950 to act as an important support for the index in coming sessions. The Nifty may attempt to move towards 11200, which is the highest Call base

* Nifty PCR-OI, which started moving higher last week has moved up from 1.08 to 1.40 on the back of Put options writing as indicated by reducing volatility. India VIX has declined from 18% to almost 14%

* The Bank Nifty has staged some recovery, thus helping the Nifty to move higher despite technology stocks witnessing profit booking during the week

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Angel Broking Pvt Ltd

Published on 13/09/2019 10:46:13 AM

Nifty Bank Outlook - (27818)

Yesterday, Bank Nifty witnessed a gap up opening and the positive momentum continued to mark intraday high of 28062. In the penultimate hour, however, the bank index witnessed profit-booking and eventually ended with minor gains of 42 points at 27818.

The bank index witnessed profit-booking on-trend line resistance visible on the daily chart at 28000 levels. The bias, however, remains positive and we sense index breaking above the mentioned resistance and extend move towards 28500-28630 levels in the near term. Traders are hence advised to continue with the positive bias and have a stock-specific approach within the sector. Immediate support is placed around 27630 - 27500 levels.

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Angel Broking Pvt Ltd

Published on 13/09/2019 10:46:04 AM

Sensex (37104) / Nifty (10983

Although the index started the session marginally positive, the Nifty lacked follow up momentum during the day. Post noon, the index corrected for rest of the session and ended the day with a loss of about half a percent.

In the last few trading sessions, the Nifty index had rallied about 300 points without any intermediate correction. Nifty has traded in a broader range in the last few weeks which is a sign of a consolidation phase. Yesterday, the index witnessed some correction from the highs but has not indicated any signs of reversal. Thus, we could see some consolidation with stockspecific momentum. A breakout above 11100 will result into a positive momentum in the index. Until we see a breakout above this level, traders are advised to focus on stock-specific moves as better trading opportunities are seen there. On the flip side, support is placed around 10930-10880 levels.

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GEPL Capital

Published on 13/09/2019 10:38:23 AM

 *BANKNIFTY SEP FUT :

* 27670 (+156 i.e +0.57%) 
*HIGH :* 27943 *LOW :* 27585 *ATP :* 27753
*DYNAMIC PARAMETER :* INDEX just above the 20-day MA
*SUPPORT ZONE:* 27445 / 27200
*RESISTANCE ZONE:* 27950 / 28100

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 13/09/2019 10:37:59 AM

*GEPL VIEW ON MARKET @ 10.30 AM:*

*NIFTY SEP FUT :

* 10980 (-15 i.e -0.15%) 
*HIGH :* 11034 *LOW :* 10962 *ATP :* 10998
*DYNAMIC PARAMETER :* INDEX just above the 20-day MA
*SUPPORT ZONE:* 10915 / 10850  
*RESISTANCE ZONE:* 11045 / 11100

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

Geojit Financial Services Ltd.

Published on 13/09/2019 10:11:54 AM

Nifty Outlook:

Bearish engulfing pattern in Nifty on daily charts signal more weakness. As longs as Nifty stays below 11000, expect move towards 10914-10875 region. Pull back above 11050 could rejuvenate bullish sentiment

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SEBI Registration number is INH200000345
 

Geojit Financial Services Ltd.

Published on 13/09/2019 10:11:17 AM

Nifty Outlook:

Pain to continue

While weekly expiry may have dominated yesterday’s trades, there is no mistaking the fact that the undercurrent was bearish. We have been mindful of this fact and have been maintaining a “consolidation” view lately, despite stocks and indices were rallying in these few days. Shorts dominate the trades now, as expected, especially along the 19 Sep expiry, but the monthlies are beginning to see put shorts being covered, possibly in response to yesterday’s selling which has infact thrown open the possibilities of 10700 yet again.

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SEBI Registration number is INH200000345