Choice International Ltd
Published on 18/08/2017 10:01:55 AM

Bank Nifty Outlook

* The market breadth was narrow, the BankNifty closed at 24237.25 with losing 200.45 points.

* On a daily chart, the index has opened on a positive note but failed to sustain above its 20 days exponential moving average and  moved towards south during the session.

* Moreover, the index has tested a support of 50% retracement level which halted the index to move further in a southward  direction.

* However, the daily momentum indicators RSI & MACD are trending below their average lines which point out for a negative  breath in the index.

* Based on the above technical parameters, we are expecting a downside movement in the Index up to the level of 23800, while  upside resistance comes at 24500 level.

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Choice International Ltd
Published on 18/08/2017 10:00:30 AM

Nifty Outlook

* The Nifty placed comfortably above 9900-mark and managed to end the day in the green but with marginal gains, ended higher by 6.8 points at 9904.15.

* Besides, the Nifty has been facing a strong resistance of its 21 days moving average which is placed at 9957 level which shows weakness in the Index.

* Moreover, the momentum indicators RSI & MACD are trending below their average lines which point out for a negative breath in the index.

* Based on the above technical statements, the nifty may give a downside movement upto the level of 9800-9780, while upside resistance comes at 9970 level.

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Enrich Commodities India Pvt.Ltd
Published on 18/08/2017 9:57:49 AM

Technical outlook

Trading Pattern analysis in nifty shows a bearish spinning top pattern in the chart as the closing price near the lows of the day and opening price is near the highs of the day which means bears are not allowing bulls to take longs. We had mentioned in our report yesterday that nifty futures movement is not indicating the bullish sentiment. We advised Short sell on higher range market. At some point of time, Nifty futures was trading in a discount price yesterday which means futures price is less than the spot price. This suggests stronger hands are using this opportunity to build short positions. Trend will only end once it forms a lower high and lower low structure and until then nothing can be predicted. Correction was expected more specific to high beta stocks. Key support area 9840-9780 key resistance 9900-9940.

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Enrich Commodities India Pvt.Ltd
Published on 18/08/2017 9:57:22 AM

NIFTY MORNING OUTLOOK

Asian market trading lower Nifty50 on the SGX were trading 48 points down at 9,863 indicating a gap down opening for the NSE.

Yesterday Nifty50 rose 0.07% settled at 9904.15, while the BSE Sensex index gained 0.08% 31795.46 settled with minor gains after a volatile trading session. The breadth, indicating the overall health of the market, was positive public-sector banks edged higher private sector banks declined. IT major Infosys advanced after the company announced that its board will consider a proposal for buyback of equity shares at a meeting to be held on 19 August 2017.

The biggest gainers of the session on the Nifty were Infosys Ltd, which rose 4.68% or 45.65 points to trade at 1020.85 at the close. NTPC Ltd added 4.06% or 6.90 points to end at 177.00 and Coal India Ltd was up 3.78% or 9.00 points to 246.95 in late trade.

Biggest losers included Cipla Ltd. which lost 2.92% or 17.25 points to trade at 573.20 in late trade. Adani Port and Special Economic Zone Ltd declined 2.08% or 8.25 points to end at 389.30 and ACC Ltd shed 1.72% or 31.10 points to 1780.10.

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Angel Broking Pvt Ltd
Published on 18/08/2017 9:40:19 AM

Nifty Bank Outlook - (24237)

Although the Nifty Bank index opened marginally higher yesterday, the banking stocks consolidated in a range and hence, the Nifty Bank index underperformed the broader indices. Eventually, the index ended the session with a loss of 0.82 percent over its previous session's close.

The Nifty Bank index has precisely halted its pullback move near our mentioned resistance around 24508, which is the 50% retracement of the recent corrective move from 25199 to 23822.The 'RSI' oscillator on the daily and well as the hourly chart has turned lower. This price and RSI set up is indicating a higher probability of another leg of corrective move in the index in near term. Hence, we continue to be cautious in the Nifty Bank index and its constituents from a near term perspective. Only if the index crosses the mentioned resistance of 24508, we will then re-access the charts and change our stance on the index. The intraday supports for the Nifty Bank index are placed around 24100 and 23950 whereas resistances are seen around 24400 and 24508. 

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Angel Broking Pvt Ltd
Published on 18/08/2017 9:39:34 AM

Sensex (31795) / Nifty (9904)

Yesterday, despite having muted cues from the global peers, our markets started the session on a positive note. This was mainly on the back of a strong opening from the IT giant Infosys, post its buyback announcement. However, despite this, there was no other trigger for such strong opening and hence, we got to see a perfect instance of how index balancing is done. The banking index remained under pressure throughout the day to compensate Infy’s strong move. As a result, the Nifty eventually pared down all losses during the day to end the session on a flat note.

In our earlier article, we had mentioned a strong resistance zone of 9900 – 9940 and if we look at yesterday’s high, the higher end of 9940 has certainly proved its significance. Going forward, we continue to expect a strong selling pressure around this mentioned hurdle and hence, traders are advised not to create fresh longs at current levels. On the downside, 9830 – 9773 remains to be important support levels for the index.

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Ventura Securities Ltd
Published on 18/08/2017 9:13:36 AM

Dow-274, Nasdaq-123, Nikkei-201, SGXNifty 9864(-47). Yday FIIs-981cr in Cash,+474cr in FNO. DIIs+829cr in Cash. Tdy Fortis, HDIL, IBRealest, JPAssociat, JSWEnergy in ban period in FNO. VENTURA

SMS subject to Disclosures and Disclaimer goo.gl/8bCMyQ

 

GEPL Capital
Published on 18/08/2017 9:11:17 AM

NIFTY maintains status quo, as NIFTY holds 9900 by a whisker. Heavyweights participate in the rescue .….

* The NIFTY opened @ 9945.55, once again a GAP-UP by around 48 points over Wednesday. The nervousness at higher level was amply clear right from the beginning as NIFTY traded in parity around the 9950 mark. Walleting in a tight 65 points range NIFTY held onto the 9900 mark by a whisker, aided by the heavyweight. In the end the NIFTY shut shop @ 9904.15 UP by 6.85 points or 0.07%.

* The broader indices, once again outperformed the benchmark NIFTY. While the NIFTY MID100 FREE closed UP by 0.21% to close @ 18125.80; the NIFTY SML100 FREE closed UP by 0.80% to close @ 7551.50. The broader move clearly tilted in favor of the BULLS with 1010 advances to 680 declines. The INDIA VIX maintained status quo to close around the 14.31 mark.

* Back to the convergence, the sectoral & thematic indices traded MIXED. NIFTY IT & NIFTY CPSE lead the way with more than a percent of RISE. On the other side, the NIFTY BANK & NIFTY AUTO were pushed DOWN by around a percent or so.

* The market maintains status quo. The correction we saw last week is very WELCOME, and we stand by it. The last week closing was tad near previous swing high @9710 & which also coincided with 61.8% retracement of the recent rally (9448 - 10138). However, any bounce back towards the bearish gap around 9890 - 9900 level will now act as a supply zone with intermediate SUPPORT coming through at the 50DMA @ 9774. Till clarity emerges, CAUTION is the KEY.

 

SEBI Registration number is INH000000081.
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Choice International Ltd
Published on 18/08/2017 9:00:27 AM

Global Update
SGX NIFTY 9864.00(-47.00)
DOWJONES 21750.73(-274.14)
NIKKEI 19509.00(-193.63)
HANGSENG 27048.99(-295.23)
GOLD COMEX $1292.62(+0.22)
CRUDE NYMEX $47.02(-0.07)
DOLLAR INDEX $93.57(-0.07)
USDINR 64.18(-0.02)

 

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Religare Securities Limited
Published on 18/08/2017 8:53:21 AM

Nifty Outlook

Nifty traded range bound and closed almost flat, taking a pause after the recent recovery. It hovered in a narrow range in absence of any fresh trigger however movement on stock specific front kept the participants busy. Sectoral indices too traded mixed wherein IT and Media attracted maximum buying interest.

Market participants world over are concerned over the prevailing geo-political issues and their reactions causing volatility across the globe. Amid all, index majors are showing resilience on local front while midcap and smallcap pack reacting sharply on every down tick so it’s prudent to stay with the leaders and maintaining hedged positions until uptrend resumes.

 

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