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*Bullish Momentum to Continue, Focus on Stocks with Strong Fundamentals !!*

*ABML: CNX Weekly Techno-Derivatives Snapshot (24/07/2017 – 28/07/2017):*

*Dear Friends,*
*Following is the Analysis on Several Indices including Nifty, Bank Nifty, Major Sectorial indices, All F&O Stocks, Small Cap & Mid Cap along with VIX & USDINR and Derivatives Outlook in addition to Global Markets outlook including Crude.*


*CNX Nifty (CMP 9915):*

Index in the past week has closed 0.4% positive W-o-W once again closed at record life-time highs.

With the Underlying Medium Term Trend still positive,
Going Forward,
Till Support Zone of 9830 is intact, Index in the current upmove could move upto 10150-10200 on the higher side, face resistance there.
Break & sustenance below 9830 with volumes could pave in a way for a short term correction in Nifty upto 9610-9530.

Overall, For the next week, Nifty Range could be 9830 – 10100.

On the Derivatives Front,
Highest OI is concentrated at 9800 PE with 64 lakh each and 10000 CE with 67 Lakhs each; making a range of 9820 to 10050 / 10100 levels in current series.

Technically, Oscillators RSI, Stochastic & MACD are placed below their respective averages on daily as well as on weekly charts.


*BANKNIFTY (CMP 24257):*

Index in the past week has closed at record high levels closing 1% positive for the week.

However, Till Support Zone of 23900 is intact, Index could continue its upmove upto 24600 - 24700 on the higher side, face resistance there.
Break & sustenance below 23900 with volumes could pave in a way for a short term correction in Nifty upto 23550 - 23200.

Overall, For the next week, Nifty Range could be 23900 - 24700.

Technically, Oscillators RSI, Stochastic & MACD are placed above their respective averages on daily as well as on weekly charts.



*NIFTY AUTO INDEX: CMP 10955: Buying Support likely to be witnessed on dips.*

Index will get support around 10750 & Going Forward, Till 10750 is held, Index will continue its upside upto 11220-11250. Only on a breach below 10750, support zone 10400-10200 will be retested.


*NIFTY FMCG INDEX: CMP 25800: Selling Pressure likely to be witnessed on rises.*

Going Forward, Till resistance zone of 26300 is not crossed, Index will retest support @ 24800-24600. Only on a cross-over above 26300, short-covering upto 26700-26900 will be witnessed


*NIFTY IT INDEX: CMP 10711: Buying Support likely to be witnessed on dips.*

Index will get support around 10500 & Going Forward, Till 10500 is held, Index will continue its upside upto 11050-11100. Only on a breach below 10500, support zone 10250-10100 will be retested.


*NIFTY METAL INDEX: CMP 3203: Buying Support likely to be witnessed on dips.*

Index will get support around 3120 & Going Forward, Till 3120 is held, Index will continue its upside upto 3330-3350. Only on a breach below 3120, support zone 2980-2900 will be retested.


*NIFTY PHARMA INDEX: CMP 10052: Selling Pressure likely to be witnessed on rises.*

Going Forward, Till resistance zone of 10250 is not crossed, Index will retest support @ 9900-9800. Only on a cross-over above 10250, short-covering upto 10550-10700 will be witnessed


*USDINR (CMP 64.30):*

Till USDINR does not cross 64.90, it can retest supports upto 63.6-63.20 zone.
Above 64.90, will move upto 65.50-66.


*BRENT CRUDE ($ 49.34):*

Till Crude prices does not cross 51, expect a retest of 43-42$.
Cross-over above 51, will lead to short-covering upto 54-57.


*DOW JONES (CMP 21563):*

Dow Jones in the last week has closed 1% positive for the week. Going Forward, Till support zone of 21300-21350 holds, Index will further move upto @ 21900-21950. On a break below 21300, support zone of 21000-20850 will be retested.


*US DOLLAR INDEX (94.29):*

Relentless Selling Pressure is witnessed in US Dollar Index & Hence Till US Dollar does not cross 96, it can retest 92.50-92.30 would be witnessed. Above 96, will retest supports of 98.50-100 zone.


*NSE Midcap: (CMP 18262):*

Index has closed flat for the week underperforming with the broader indices which closed 0.3% positive for the week. Going Forward, Till support zone of 17950 holds, Index will move upto 18560-18600. Break below 17950, will lead to a retest of 17600-17400 supports.


*BSE Small Cap (CMP 15,992):*

Index has closed 0.5% positive for the week inline with the broader indices which closed 0.3% positive for the week. Going Forward, Till support zone of 15750 holds, Index will move upto 16300-16350. Break below 15750, will lead to a retest of 15450-15200 supports.


*VIX (11.09):*
Going forward, 10 zone is extremely crucial resistance on VIX & Till 10 holds, expect a rebound upto 13.50-15.
Only Below 10, VIX will further cool-off upto 8-7.6.

Nifty Futures have closed at 13 point premium compared to 3 points premium a week ago.



*Q1 FY18 Corporate Results for the Coming Week:*
24th July: Ambuja Cem, HDFC Bank, Bharti Infratel, M&M Fin, Zee Ltd, GIC Housing, Hudco, IB Real Est, I Bull Hsg, IRB Infra, JM Financial, Just Dial, Tata Comm;
25th July: Asian Paints, VEDL, Axis Bank, Bharti Airtel, Hero Moto, ICICI Pru, Raymond, Pidilite;
26th July: Bharat Fin, HDFC, Mphasis, Yes Bank, Federal Bank, L&T Fin, Muthoot Fin, Shanthi Gears, ;
27th July: ITC, Biocon, Maruti, HCL Tech, ICICI Bank, Chola Fin, Rel Cap, Crompton Greaves, ABFRL, Dr Reddy, IDFC, IDFC Bank, Exide, Glenmark, Idea, ONGC, MOSL, Nocil, Sagar Cement, Tata Elxsi, Tata Coffee;
28th July: Equitas, Escorts, Heidelberg, India Cement, LIC Housing, L&T, NIIT LTD, Zuari;
29th July: NTPC,
31st July: Balramchini, BASF, BEL, Concor, Hexaware, Siemens, UPL, V Guard;
1st Aug: JSW Steel, Power Grid, Tech M, Torrnt Power;
2nd Aug: Bata, CAPF, Emami, Godrej Prop, Greenply, HEG, Ingersol Rand, Lupin, Voltas, Wock Pharma,



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