NAMN FINANCIAL ADVISORY - MARKET OUTLOOK

NAMN FINANCIAL ADVISORY - MARKET OUTLOOK

View on Nifty 🖊🔎

- On a Technical front, Nifty has formed a bullish candle and has given breakout from the consolidating range of last 7 trading sessions & closed above 9950 mark for the first time in life.

- Nifty is just shying to touch 10000 historical mark for the first time and further, the ongoing bullish momentum, positive investor sentiments & options data suggests Nifty shall easily break this level & likely to move till 10200-10300 level within August Expiry

- On a Fundamental front, good quarterly results by Heavyweights like Reliance, HDFC Bank, expectations from RBI Credit Policy & progressing monsoon has lifted the market to the new highs

View on USD/INR 🖊🔎

- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term

Sectors with Positive Outlook 🖊🔎

- IT & Banks
- Auto

Stocks with positive outlook 🖊🔎

- TCS, INFY
- Yes Bank, Kotak Bank

Regards
CA PANKAJ CHHABRA

NAMN FINANCIAL ADVISORY - MARKET OUTLOOK

*View on Nifty* 🖊🔎

- On a Technical front, Nifty has recovered marginally well from its lower levels post correction of 100-120 points from life time high of 9928.

- On a daily scale, it has formed a green candle with long lower shadow, which indicates bullishness in the near term would be headed towards 9950-10000 levels

- On a Weekly scale, it has formed a Dragon Fly candle which further suggests that overall market is in control of Bulls and likely to remain in an uptrend for near term future

- However, some sector & stock specific action shall be witnessed majorly in Banks, NBFCs & Auto stocks particularly in Axis Bank, Tata Motors, Maruti, Kotak Bank, Bajaj Finance etc.

*View on USD/INR* 🖊🔎

- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term

*Sectors with Positive Outlook* 🖊🔎

- Banks & Pharma
- Auto

*Stocks with positive outlook* 🖊🔎

- Tata Motors, Maruti
- Axis Bank, Federal Bank

Regards
CA PANKAJ CHHABRA

NAMN FINANCIAL ADVISORY  - MARKET OUTLOOK

- On the Technical front, After a gap up opening Nifty had failed to hold 9900 decisively and profit booking action dragged Nifty down & it closed below 9900 level. On a daily scale, it has formed a normal sized Red candle which implies bears are fighting hard to bring Nifty down to more lower levels

- On the Options front, significant call writing at 9900 & 10000 strikes was observed & put unwinding at the same strikes supported the bearish move yesterday

- After a bullish rally of 450-500 points, Nifty is likely to consolidate between 9800 & 10000 mark till July Expiry. However, some stock specific action shall be witnessed

*View on USD/INR* 🔎

- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term

*Sectors with Positive Outlook* 🔎

- NBFCs, Banks
- Oil & Gas

*Stocks with positive outlook*🔎

- Reliance Industries, Axis Bank
- Voltas, ONGC

Regards
CA PANKAJ CHHABRA

NAMN FINANCIAL ADVISORY - MARKET OUTLOOK - 20th JULY 2017

View on Nifty 🔎

- On the Technical front, Nifty has recovered back to 9900 level & formed a big size bullish candle with gap up opening seems like it has negated its previous drag down move of 100 odd points which was majorly due to ITC & Reliance

- On the Options front, significant addition in Put writing at 9700 to 10000 all strike prices with maximum open interest at 9800 level and major call unwinding at 10000 & 9900 level supporting the up-move in market

- Moreover, Impressive quarterly release session  Good monsoon expectations, FIIs buying in the market & Positive global cues acting as a booster for bullish sentiments in the market. Nifty likely to gyrate between 9800 to 10000 till July expiry

View on USD/INR 🔎

- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term

Sectors with Positive Outlook 🔎

- Banks & Pharma
- Metals

Stocks with positive outlook 🔎

- Sunpharma, Dr. Reddys
- PNB Bank

Regards
CA PANKAJ CHHABRA
+91-9717927667

NAMN FINANCIAL ADVISORY - MARKET OUTLOOK

*View on Nifty* 🔎

- On a daily scale, Nifty has negated the impact of Hanging Man candle which was formed earlier to the last session. Nifty continued to move up and traded in a narrow range of 20-30 points during the last session

- However, it has still managed to close above 9900 mark & made a life time high of 9928 which indicates bullish sentiments to remain intact in market in the near term

- Options data is clearly signaling, gradually upward shifting of support levels to 9850-9950 due to significant Put writing at these levels while highest Call writing at 10000 mark putting up a hurdle in an ongoing momentum

*View on USD/INR* 🔎

- USD/INR continue to be range bound within 64.00 - 64.70 levels in the near term

*Sectors with Positive Outlook* 🔎

- Banks & Pharma
- Metals

*Stocks with positive outlook* 🔎

- Vedanta, Hindalco
- ICICI Bank, Kotak Bank

Regards

CA PANAKJ CHHABRA
+91-9717927667
capankaj1492@gmail.com

NAMN FINANCIAL ADVISORY 

*View on Nifty* 🖊🔎

- Nifty on a 4 hours scale forming a set of 4 candles and then moving up with a gap of around 50 odd points is last six trading days, which can be further predicted by SGX Nifty as it recently closed above at 9951.50 level

- Nifty on a daily scale formed a small red candle with long lower shadow after opened gap up, which clearly indicates it has recovered from the lower levels and closed near to 9900 level & likely to move up

- Nifty on a weekly scale formed a big bullish sized candle indicating the strength in bullish sentiments in market and has touched a life time high of 9913 and likely to touch 10000 level in upcoming week

- Overall Nifty is in strong uptrend on both daily & weekly scale with immediate support level at 9820-9830 levels & significant addition in Put writing at 9900 level justifying the same

*View on Bank Nifty* 🖊🔎

- Nifty Bank is also in strong uptrend both on weekly & daily scale having 23700 as immediate support and can extend the existing bull rally up to 24200-24300 levels in the upcoming week.

- At current levels, there is room in banking stocks to shine more by around 5-6 % in the near term. Some of the best names can be SBI Bank, PNB, Kotak Bank, Federal Bank etc.

*View on USD/INR* 🖊🔎

- USD/INR continue to be range bound within 64.50 - 65.00 levels in the near term

*Sectors with Positive Outlook* 🖊🔎

- Banks & Pharma
- Metals

*Stocks with positive outlook* 🖊🔎

- Sunpharma, Auropharma, Dr. Reddys
- Hindalco, Kotak Bank

Regards
CA PANKAJ CHHABRA