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

*ABML: CNX Weekly Techno-Derivatives Snapshot (07/08/2017 – 11/08/2017):*

*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 10066):*

Index in the past week has closed 0.5% 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 9930 is intact, Index in the current upmove could move upto 10250-10300 on the higher side, face resistance there.
Break & sustenance below 9930 with volumes could pave in a way for a short term correction in Nifty upto 9810-9760.

Overall, For the next week, Nifty Range could be 9930 – 10300.

On the Derivatives Front,
Highest OI is concentrated at 10000-9900 PE with 50-41 lakh each and 10100-10300 CE with 35 Lakhs each; making a range of 9930 to 10250 / 10300 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 24827)*:

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

However, Till Support Zone of 24400 is intact, Index could continue its upmove upto 25300 - 25400 on the higher side, face resistance there.
Break & sustenance below 24400 with volumes could pave in a way for a short term correction in Nifty upto 23950 - 23800.

Overall, For the next week, Nifty Range could be 24400 - 25400.

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







*NIFTY IT INDEX: CMP 10757: Buying Support likely to be witnessed on dips.*

Index will get support around 10550 & Going Forward, Till 10550 is held, Index will continue its upside upto 11050-11100. Only on a breach below 10550, support zone 10250-10100 will be retested.





*USDINR (CMP 63.65):*

Till USDINR does not cross 64.50, it can retest supports upto 62.70-62.40 zone.
Above 64.50, will move upto 65.50-66.


*BRENT CRUDE ($ 52.50):*

Till Crude prices holds 49, expect a rebound upto 54-55$.
Break-Down below 49, will lead to short-covering upto 44-43.


*DOW JONES (CMP 22092):*

Dow Jones in the last week has closed 1% positive for the week. Going Forward, Till support zone of 21800-21850 holds, Index will further move upto @ 22350-22450. On a break below 21800, support zone of 21400-21250 will be retested.



Warm Regards,
Sudeep Shah,. Jsk.