Enrich Commodities India Pvt.Ltd
Published on 18/10/2017 11:46:05 AM

Technical outlook

Trading Pattern analysis according to the previous session movement in nifty is “spinning top candle" which is positive for fourth consecutive day in a row. Trading pattern “Ascending broadening wedge” 4-hour chart which signals bulls are to take control of the market at the higher levels and open fresh longs Nifty50 target 10300. Key support holds at 10080. Key resistance holds at 10300-10450.

As the Illumination of the lamps declares the victory of light, Team Enrich wishes you all a “Happy Diwali” filled with prosperity.

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Enrich Commodities India Pvt.Ltd
Published on 18/10/2017 11:45:40 AM

NIFTY MORNING OUTLOOK

This Diwali NIFTY50 crackers target - 10300-10450

Pre-Market Wednesday! Asian market positive territory Nifty50 on the SGX were trading at 10225 -36 points on indicating gap down opening for the NSE.

On Tuesday, The Nifty 50 index rose 3.60 points or 0.04% to settle at 10,234.45, its record high closing level. The index rose 21 points, or 0.21% at the days high of 10,251.85, its record high. The index fell 18.25 points, or 0.18% at the days low of 10,212.60.

The biggest gainers of the session on the NIFTY50 were Cipla Ltd., which rose 4.18% or 25.35 points to trade at 632.10 at the close. Bharat Petroleum Corp. Ltd. added 2.88% or 14.35 points to end at 512.75 and Bharti Airtel Ltd. was up 2.58% or 11.70 points to 465.95 in late trade.

Biggest losers included Zee Entertainment Enterprises Ltd,which lost 3.82% or 19.65 points to trade at 494.80 in late trade. AXIS Bank Ltd declined 1.38% or 7.20 points to end at 513.15 and Tata Motors Ltd shed 1.09% or 4.75 points to 432.30.

On the NSE stocks movement 1257 fell and 1319 advanced, while 122 ended unchanged.

Rupee desk: The USD/INR was down 0.28 to 65.08

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Choice International Ltd
Published on 18/10/2017 10:18:41 AM

Bank Nifty Outlook

 *  The market breadth was narrow, the BankNifty closed at 24645.60 losing 57.45 points.

*  On a daily chart, the index had opened on a positive note but failed to breach above the previous day high and traded between the yesterday’s trading range of 24878-24516.

*  Moreover, the index has been trading above the 20 days exponential moving average which is a positive sign.

* A daily momentum indicator RSI reading is at 57.29, trending above the mid-line which points out for a positive breath in the index.

* Based on the ongoing move, we are expecting a higher side resistance level at 25100 while downside support comes at 24350 level.

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Choice International Ltd
Published on 18/10/2017 10:18:00 AM

Nifty Outlook

* The Nifty index traded on a flat note but made fresh all time high level , closed at 10234.45 with marginal gain of 3.60 points.

*  On a daily chart, the index has shown consolidation trading pattern during the session and just closed below the yesterday’s high value.

*  Moreover, the index has been trading with the Higher High and Higher Low formation which is a trend continuation pattern.

* A daily momentum indicator RSI reading is at 67.64, trending above the average line and heading towards the overbought zone which points out for a positive breath in the index.

* Based on the ongoing move, we are expecting a higher side resistance level at 10300 while downside support comes at 10170 level.

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GEPL Capital
Published on 18/10/2017 9:49:48 AM

Key Highlights:

NIFTY celebrates DHANTERAS with an all time HIGH of 10250. Listless behavior comes to the FORE as market ends marginally POSITIVE …

* first hour saw the BULLS & BEARS in a fine balance, as NIFTY walleted around PAR without much moementum on either side. The pre noon session saw NIFTY having a take at the 10250 mark, and once again profit booking ensued and that brought in a listless behavior to the FORE for the rest of the day. Nonetheless, the NIFTY closed marginally PSOITIVE, once again near the HIGHs @ 10234.45 UP by 3.60 points or 0.04%.

* The broader indices once again moved in tandem with the benchmark NIFTY & this time around outperformed it a bit. While the NIFTY MID100 FREE closed UP by 0.58% to close @ 18887.90; the NIFTY SML100 FREE closed UP by 0.71% to close @ 8066.70. The broader move inspit of the jolly sentiment, indicated a SIDEWAYS tranche, with 960 advances to 783 declines. The INDIA VIX seemed a bit heightened at higher levels, as it ticked UP by a good 2.65% to close @ 11.61 mark.

* The sectoral & thematic indices largely traded MIXED. The BULL showed some spark through NIFTY INFRA & NIFTY PHARMA that moved UP close to half a percent. On the losing side, the NIFTY MEIDA & NIFTY FIN SERVICES saw further profit booking, with a downtick of 1.75% and 0.27% respectively.

*  The dynamics of the market remain the same. On the daily chart, Index after trading in a range of broadening pattern for the last three months have broken the range on the higher side which is discordant to the nature of the pattern. Bearing in mind the presence of a highly volatile broadening pattern breakout, the current momentum can take the index towards 10400 – 10450 level; however, the move may not be an easy ride. Traders are advised to continue with the stock specific action however with the negative divergence clearly visible on the Index (RSI) one should trade with proper exit setup.

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Angel Broking Pvt Ltd
Published on 18/10/2017 9:40:55 AM

Nifty Bank Outlook - (24646)

The Nifty Bank Index opened marginally negative yesterday and traded range bound to end with a minor loss of 0.23 percent.

Owing to the range bound session, there is no major change in chart structure and we reiterate our previous view that Nifty Bank Index could continue its last week’s positive momentum towards the 25000 mark. The support levels for the Bank Index is placed around 24500 – 24450 levels whereas resistance is placed at 24850 – 25000. Traders are advised to focus on stock specific moves and trade with proper risk management.

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Angel Broking Pvt Ltd
Published on 18/10/2017 9:40:35 AM

Sensex (32609) / Nifty (10235)

Yesterday, our markets opened mild negative as indicated by the muted cues from the Asian bourses. Subsequently, Index traded in a narrow range for the remaining part of the day to end flat at 10234 mark.

As anticipated in our previous outlook, there was no major move in the Index owing to the festive week and the chart structure remains unchanged. During the day real action was seen outside the Index as some of the midcaps soared by 5 - 6% with ease. Going ahead we sense the individual stocks to outperform and Index to continue its consolidation. As far as the trading range is concerned, 10260 - 10300 are immediate resistance zone whereas, on the other hand, the support zone is placed in the range 10180 - 10120.

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Ventura Securities Ltd
Published on 18/10/2017 9:13:28 AM

Dow+40, Nasdaq-1, Nikkei+18, SGXNifty 10227(-34). Yday FIIs-485cr in Cash,+250cr in FNO. DIIs+809cr in Cash. Tdy BEML, DHFL, IBRealest, Infibeam, JPAssociat, JSWEnergy, Rcom in ban period in FNO. 

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Mehta Equities
Published on 18/10/2017 9:09:08 AM

Stocks in Action for the day:SunPharm,Wipro,AxisBnk,PowrGrid,Arvind,ClarisLife INR/1USD:64.92 SGXNifty10224(-37)Ban BEML,DHFL,IBRL,INFIBEAM,JPASSO,JSWEGY,RCOM

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Religare Securities Limited
Published on 18/10/2017 8:51:31 AM

Nifty Outlook

Markets ended almost unchanged in a dull trading session, taking a breather after the recent up move. Participants preferred to book some profit amid the fear of escalation of tension between the US and North Korea again. However, buying in select index majors capped downside and also aided the benchmark to close flat. Sectoral indices too had the similar trend as mostly ended with modest gain or loss.

Indications are favorable from the local front and we feel this rally will continue, but the lingering geo-political tension may play a spoil sport. Traders should keep their leveraged positions hedged, especially the overnight trades and maintain stock specific trading approach.

 

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