MARKETS RECOVERED FROM INTRADAY DIP;TREND REMAINS SIDEWAYS WITH A RESISTANCE OF 10140
Market Outlook – 18 September 2017
MARKETS RECOVERED FROM INTRADAY DIP; NIFTY AND BANK NIFTY CONSOLIDATING AFTER RANGE BREAKOUT; TREND REMAINS SIDEWAYS WITH A RESISTANCE OF 10140; ANY BUYING OPPORTUNITY WILL EMERGE ABOVE THIS LEVEL;
Again it was a dull day for the index , nifty opened lower and went down till it found intraday support at lower level only to recover all the losses as bull regained control of the market in the second half.
Nifty started with a 25 points gap down at 10062 and went lower till 10043. It was the second session which changed the scenario in favour of the bulls that took prices to intraday high 10115. However, last half an hour decline forced index to close near yesterday’s close at 10085. Amongst the major indices, Nifty IT was the major outperformer with gain of 1% while Bank and Auto indices closed with minor losses.
On the daily charts, Nifty is trading very choppy and volatile. After broking out from a range, the Nifty has formed another range in last four days. In this period, the index has traded inside just 100 points. We can expect a big move early next week with the direction remains unknown.
Below the support appears near 10000 whereas resistance comes near 10150. Short term view is now sideways in Nifty so a move above 10140 only will be a buying opportunity in the index. For the second time, Nifty came down from resistance so possibility of a breakdown from support couldn’t be neglected.
Bank Nifty has again traded choppy inside a narrow range throughout the day. Prices started the session with a gap down of 40 points at 24840 and made intraday low of 24791. However, Bank Nifty regains some points in second half that helped the index to make a high at 24915.At the end, closed at 24845 with a loss of 75 points.
On the daily charts, prices are trading narrow after a range breakout. Bank Nifty has made NR7 (narrowest range week in last seven weeks) that suggest blistering move ahead. Traders went long in Bank Nifty (Future September Expiry) at 24750. Now prices are again seeking a big move after four successive narrow trading days. Therefore, traders should hold on to these long positions with even tighter stop loss of 24822.70.
Furthermore, if the index goes below 24734 intraday then swing traders should initiate short positions in this index. Nevertheless, trend remains up in the Bank Nifty therefore intraday traders should look to buy the index on dips as far as prices are above 24734.
|AMARAJABAT||773||SELL||Intermediate and Short Term Trend are down in AMARAJABAT. The stock has seen a decline and then started trading narrow. Prices have formed a trading range and then broken down. Sell this stock below 772. If this trade executes then place a stop at 782 and a target at 752.|
|ASHOKLEY||116||BUY||Intermediate and Short Term Trend are up in ASHOKLEY. The stock has seen an upside rally and then started a sharp correction. Prices are now finding support near 115. We may see an upside move here. Buy this stock above 117. If this trade executes then place a stop at 115 and a target at 122.|
|Stock Name||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|BANKINDIA||SEP FUT||BUY||155.3||CMP||152.5||158.5-160||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|ANDHRABANK.17.09 Sep||58.8||10.73||23.18||22530000||RCOM.17.09 Sep||20.5||-5.31||1.38||113148000|
|SYNDIBANK.17.09 Sep||70||4.48||9.58||18117000||BHEL.17.09 Sep||132.35||-3.75||1.55||36035000|
|ALBK.17.09 Sep||72.8||3.41||14.62||13250000||INDIACEM.17.09 Sep||190.45||-3.15||4.13||26467000|
|BAJAJ-AUTO.17.09 Sep||3034||3.13||14.26||1578250||ICIL.17.09 Sep||119.6||-2.76||0.66||12316500|
|MFSL.17.09 Sep||617.6||2.68||17.89||5529000||HDIL.17.09 Sep||61.95||-2.59||5.67||36808000|
|Short covering||Long Unwinding|
|ONGC.17.09 Sep||4.14||-9.73||48243750||166||Reliance Naval and Engin||58.25||-2.18||-1.21||13221000|
|OFSS.17.09 Sep||1.97||-4.42||61650||3542.35||PTC.17.09 Sep||122.25||-2||-1.86||15232000|
|PCJEWELLER.17.09 Sep||1.97||-0.78||9150000||348.7||HCC.17.09 Sep||38.1||-1.8||-6.41||26112000|
|OIL.17.09 Sep||1.58||-3.54||2963928||324||MARICO.17.09 Sep||327.5||-1.75||-0.84||4316000|
|INFIBEAM.17.09 Sep||1.58||-0.37||48968000||147.85||IFCI.17.09 Sep||23.6||-1.67||-0.03||69542000|
Top Delivery Percentage
|Stocks||Price||%Chg||Vol||Delivery||Del %||% Change|
|Britannia Ind Ltd.||4357||0.38||139797||80897||85.55||Nifty 50||10085.4||-0.01||34441335|
|NTPC Limited||167.35||-0.77||5522238||4715889||77.72||Nifty IT||10599.75||0.99||1494068|
|HDFC Ltd.||1768.95||-0.16||4778170||2797714||77.05||INDIA VIX||11.68||1.83||2.97E+08|
|BHARTI INFRATEL LIMITED||374||1.07||11439738||1204050||76.64||Nifty Energy||13347||-0.13||2033794|
|Infosys Limited||908.25||1.78||6729730||5034797||73.51||Nifty Pharma||9338||-0.46||37179960|
|Hindustan Unilever Ltd||1246||-0.15||1333125||905726||73.08||Nifty Realty||286.75||-0.33||1.21E+09|
|Oil & Natural Gas Corp||166.75||4.64||25453536||11178237||72.72||Nifty Infrastructure||3368.9||-0.51||1.03E+08|
|ITC Ltd.||269.3||-0.99||13147594||5069217||71.99||Nifty PSU Bank||3278.25||-0.5||1.06E+08|
|TATA CONSULTANCY||2506.05||0.77||1472036||389170||71.97||Nifty Auto||10971.45||0.21||31670573|
Upcoming Economic Data
|•RBI Monetary Policy on 04th October, 2017.||•US Fed Interest Rate Decision on 20th September, 2017.|
|•IndusInd Bank has secured up to USD 200 million (about Rs 1,282 crore) loan from multilateral lender Asian Development Bank (ADB) to serve low income women borrowers in rural areas.
•Maruti’s Japanese parent Suzuki Motor deciding to make electric cars at its factory in Gujarat for India and the world. It will also be the first commercially-available electric car for Suzuki.
• Coal import in August declined 24 per cent on a yearly basis as Indian buyers preferred not to buy any fresh fossil fuel and instead wait and watch ahead of an upcoming auction for the power sector.
•Cyient has agreed to sell its entire 49% stake in Infotech Aerospace Services to Pratt & Whitney, part of United Technologies Corporation, for $10.9 million
Source: Economics Times
|Company Name||Purpose||Date||Company Name||Purpose||Date|
|RELSTRUCT||General||18-Sep-17||VIDHIING||Interim Dividend General||25-Sep-17|
|GAMMONIND||Audited Results||20-Sep-17||KANSAINER||Quarterly Results||16-Oct-17|
|SIPTL||General||20-Sep-17||INFY||Audited Results Interim Dividend General||24-Oct-17|
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|GALLISPAT||Dividend – Rs. – 0.5000||18-Sep-17||BRPL||Right Issue of Equity Shares||18-Sep-17|
|AARTIIND||Final Dividend – Rs. – 1.0000||18-Sep-17||BSL||Dividend – Rs. – 1.2000||18-Sep-17|
|ALANKIT||Final Dividend – Rs. – 0.1000||18-Sep-17||FLUIDOM||Dividend – Rs. – 1.7500||18-Sep-17|
|ALICON||Final Dividend – Rs. – 4.2500||18-Sep-17||GRAUWEIL||Dividend – Rs. – 0.4000||18-Sep-17|
|ARROWTEX||Dividend – Rs. – 1.5000||18-Sep-17||HBLPOWER||Dividend – Rs. – 0.2500||18-Sep-17|
|BASANTGL||Dividend – Rs. – 0.0500||18-Sep-17||HIGHGROUND||Dividend – Rs. – 0.1000||18-Sep-17|
|BLISSGVS||Dividend – Rs. – 0.6000||18-Sep-17||IGL||Final Dividend – Rs. – 5.0000||18-Sep-17|
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
For Daily Share Market Updates, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan http://wms.elitewealth.in