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ICICI Securities

Published on 22/07/2019 11:02:37 AM

Opening Bell (July 22)

Indian markets are expected to open weak tracking negative global cues. Earnings traction and global news flows remain key monitorables for the markets ahead.

Domestic markets ended negative on the back of weak corporate earnings and volatile oil prices. US markets ended lower amid uncertainty over interest rate action by the Federal Reserve.

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ICICI Securities

Published on 22/07/2019 11:01:50 AM

Derivatives View (July 22):

Nifty

Post a flat opening, the index continued to trade with a negative bias throughout the day. Stock like Mahindra & Mahindra, L&T, private banks and Bajaj Finance saw intense selling pressure. Aggressive Call writing was seen in 11500 and11600 strike suggesting upside is very limited. if any intraday pullback it seen towards 11500, it can be utilised to sell at higher levels. Nifty futures ended at a premium of 3 point with a rise in IVs by 6.08%. The highest Put base is at 11300 strike with almost 30 lakh shares while the highest Call base is at the 11600 strike with 35 lakh shares.

Bank Nifty

After opening below 30500, Call writing was clearly visible for a major part of the day. Selling pressure was seen in leading private and PSU banks. Looking at the current OI set-up in banks, we feel the ongoing downtrend in the index would stay intact till it trades below 30000.

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GEPL Capital

Published on 22/07/2019 10:46:19 AM

*BANKNIFTY JUL FUT :

* 29411 (-373 i.e -1.23%) 
*HIGH :* 29699 *LOW :* 29335 *ATP :* 29437
*DYNAMIC PARAMETER :* INDEX is trading below Election Result GAP
*SUPPORT ZONE:* 29235 / 29000 
*RESISTANCE ZONE:* 29650 / 29725  
 

SEBI Registration number is INH000000081.
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GEPL Capital

Published on 22/07/2019 10:45:47 AM

*GEPL VIEW ON MARKET @ 10.15 AM:*

*NIFTY JUL FUT :

* 11359 (-62 i.e -0.55%) 
*HIGH :* 11408 *LOW :* 11317 *ATP :* 11352
*DYNAMIC PARAMETER :* INDEX maintained Lower Top Lower Bottom formation
*SUPPORT ZONE:* 11300 / 11267  
*RESISTANCE ZONE:* 11408 / 11467

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

ICICI Securities

Published on 22/07/2019 10:31:42 AM

Please find below the Technical outlook for the week beginning Jul 22nd.

Quote From Mr. Dharmesh Shah, Head – Technical, ICICI direct

Benchmark indices extended decline for second successive week amid disappointing earnings of some companies. Nifty midcap and Nifty small cap indices underperformed with cut over 2% for the week

The weekly price action for Nifty resulted in a sizable bear candle with lower high and lower low, signalling continuation of negative bias, in line with our expectations. Breach of key rising trend line (placed at 11530) and lack of faster retracement of preceding declining legs makes us believe that Nifty is heading towards 11300 levels, while stock specific action would continue as we sail through Q1FY20 earnings and derivatives expiry of July 2019 series

Another key observations is that, for first time since October 2018, index has retraced its preceding major rally by more than 61.8%, indicating extended consolidation going ahead. This development coupled with shallow nature of pull backs, led us to believe that 11600-11650 will act as key hurdle going forward as it is the low of Exit poll session and recent break down area

Please refer disclaimer at https://www.icicisecurities.com/AboutUs/?ReportID=10445
 

 

KIFS Trade Capital

Published on 22/07/2019 10:19:25 AM

Bank Nifty

Bank nifty has a tendency to show similar view as key benchmark index nifty. It saw a selling pressure as the Bank nifty closed in red with 660 negative basis points in last trading session. PSU bank and Private Banks both index were under performers. Technically in current chart structure negative setup is observed on hourly price chart, bank nifty broke the support placed near 30130 level and the gap created on 20th may is not yet filled so there is more room for correction in bank nifty. Now the crucial support is placed near 29550 level.

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KIFS Trade Capital

Published on 22/07/2019 10:19:14 AM

Nifty

The key benchmark index performed poorly in last week’s trading session as FII were major sellers in equity market. Overall market breath indicate weaker as all sector indices closed negatively but Auto sector and Private banks were major laggard among others. Technically nifty smartly covered the gap which was created on 20th may near 11400, On lower time frame chart, mainly oh hourly indicates market is overly sold, so we are expecting a sharp pull back in coming days. Traders are advice to book profits on short position. Strong support placed near 11300 mark.

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KIFS Trade Capital

Published on 22/07/2019 10:19:14 AM

Nifty

The key benchmark index performed poorly in last week’s trading session as FII were major sellers in equity market. Overall market breath indicate weaker as all sector indices closed negatively but Auto sector and Private banks were major laggard among others. Technically nifty smartly covered the gap which was created on 20th may near 11400, On lower time frame chart, mainly oh hourly indicates market is overly sold, so we are expecting a sharp pull back in coming days. Traders are advice to book profits on short position. Strong support placed near 11300 mark.

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Please refer disclaimer at https://kifstradecapital.com/disclaimer

LKP Securities

Published on 22/07/2019 9:59:29 AM

Index closed a week at 11419 with loss of 134 points and formed a bearish candle on weekly chart. Now index has support near 11370-11310 zone and resistance is coming near 11470-11530 zone, current market structure suggest sell on rise strategy can be adopted. Nifty bank has support near 29500-29300 zone and resistance is coming near 30000-30150 zone.

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Angel Broking Pvt Ltd

Published on 22/07/2019 9:56:50 AM

Nifty Bank Outlook - (29770)

Post consolidating in a range for the entire week, the Bank Nifty finally breached the support of 30330 in the initial hour of trade on Friday. This triggered a sharp sell-off in the index throughout the session and the index ended the session with a cut of over 2%.

A trended move was expected in the index post a breakout from the range of 30870-30340. The breach of the lower end of the range triggered a sharp sell-off and the index ended the week well below the 30000 mark. The short term trend has turned negative post the breach of this support and hence the momentum in near term could continue to be negative. The lower end of the recent gap area is placed around 29550 and below that, 29200-29350 would be the target area to watch out for. The immediate resistance is seen around 30250 and until there any reversal signs, traders should avoid any kind of bottom fishing.

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