tag:blogger.com,1999:blog-35951549331559490082024-03-06T12:29:25.300+05:30Technical & Macro Analysis Of Indian & Global Market---- Smart & Simple Predictive Analytics / Trading IdeasAsis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.comBlogger1491125tag:blogger.com,1999:blog-3595154933155949008.post-54305011405895016882019-01-22T12:07:00.005+05:302019-01-22T12:07:59.974+05:30Nifty slumped early Tuesday on subdued global cues amid renewed US-China cold/trade war tensions<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut/India-50) is currently trading around 10930.00
early Tuesday, slumped by almost -0.35% on subdued global cues amid renewed US-China
cold/trade war tensions. As per reports, the US will proceed with extradition
request for the arrested Huawei executive in Canada. The arrested Huawei CFO
Meng is being detained on charges related to Huawei "allegedly stealing
trade secrets from U.S. business partners, including the technology for a
robotic device called "Tappy" that T-Mobile US used to test smartphones”.<o:p></o:p></span></div>
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<span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news/nifty-slumped-early-tuesday-subdued-global-cues-amid-renewed-us-china-coldtrade-war-tensions-61365" target="_blank">For more---</a></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Nifty jumped Monday on hopes of a rate cut, mixed global cues
and led by exporters on higher USD; RIL and techs helped:<o:p></o:p></span></b></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut/India-50) closed around 10964.50 Monday, jumped
by almost +0.34% on mixed global cues after a stable and expected set of
economic data from China (GDP, Industrial productions and retail sales) coupled
with growing optimism about the US-China trade truce progress and RBI rate
cuts.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">But </span><b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%;">Early
Monday, the “risk-on” trade was under some stress on a report </span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%;">that
despite growing optimism story about the US-China trade truce progress, on the
vital issue of IP protection, there is absolutely no progress as reported by
the US Treasury to the US Congress. <b>China
officials have denied such IP theft
allegation and asked the US for proof.<o:p></o:p></b></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-no-proof: yes;">Subsequently,</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%;"> the US future SPX-500 dropped over
-0.30%, while Europe also slumped around -0.40%. But China and Hong Kong
recovered from an earlier slump on a stable
set of economic data and hopes of China stimulus as ultimately China’s 2018 GDP
came at +6.60%, the lowest in last 28-years.<o:p></o:p></span></div>
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<span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/analysis/nifty-jumped-hopes-rate-cut-mixed-global-cues-and-led-exporters-higher-usd-61335" target="_blank">For more---</a></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR):<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, whatever may be the
narrative <b>Nifty Fut-I</b> (NF) has to sustain over 11075 for a further
rally to 11130*/11205-11245/11315 and 11405/11495-11620/11785-11825 in the near
term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 11050-11010, NF may fall to 10900*/10840-10800/10750 and
10660/10575-10500/10350 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b>
(BNF) has to sustain over 27800 for a further rally to 27880*/27945-28175/28410
and 28465/28550-28800/29100 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 27750-27650, BNF may again fall to 27400*/27200-27050/26700 and 26400/26250-26000/25700
in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR (spot)</b> has
to sustain over 70.80 for a further rally to 71.50/71.75*-72.00/72.75 and
73.05/74.00-74.50/76.05 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below
70.45, USDINR may fall to 70.10/69.75*-69.10/68.45 and 67.85/66.95-66.40/65.70 in
the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhiB7XDP3WD9iuBfwq_qAlZwxCg3GH6epb9K2YwY2bScwV92Hj4mbDegDTOdn8vvAijJNKdJGf8u_2f3VtKLw5ZnTZfgWBR91ZIGbGcffO5UcjAm9gHK2PMtVigui1ZxzCn7U3AOcVzY1cx/s1600/SGX-NF-PATTERN-21-01-2019.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhiB7XDP3WD9iuBfwq_qAlZwxCg3GH6epb9K2YwY2bScwV92Hj4mbDegDTOdn8vvAijJNKdJGf8u_2f3VtKLw5ZnTZfgWBR91ZIGbGcffO5UcjAm9gHK2PMtVigui1ZxzCn7U3AOcVzY1cx/s320/SGX-NF-PATTERN-21-01-2019.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">NSEI-NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOuSE-wMqtRZ0RYBfpW7LKMrf5BLQ5D31YBzqoOUf-QyynxnqGQVO538vMXSSm_HXX4SlxUcqtLSKc47vqw5P48zIMjynQDoGWjXjXbO69k_SdP4Ao7yFvGPLiv2LyevxldCkCgIeTYldI/s1600/BNF-PATTERN-21-01-2019.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOuSE-wMqtRZ0RYBfpW7LKMrf5BLQ5D31YBzqoOUf-QyynxnqGQVO538vMXSSm_HXX4SlxUcqtLSKc47vqw5P48zIMjynQDoGWjXjXbO69k_SdP4Ao7yFvGPLiv2LyevxldCkCgIeTYldI/s320/BNF-PATTERN-21-01-2019.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">NSEBANK-BANKNIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_wieWgzt2iQvUnWBG8jEoy_hQhMwoWWoYSfMvDkp5-qIj2NdK30xCZcrClmQdSfnJdL7wG0COmpmIVCRIdeS-hQdHBmHZNcen7h7kB-8TpUw-VSbCwLLpvbyIA_ws4_NWXwLLHbSfh145/s1600/USDINR-PATTERN-21-01-2019.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_wieWgzt2iQvUnWBG8jEoy_hQhMwoWWoYSfMvDkp5-qIj2NdK30xCZcrClmQdSfnJdL7wG0COmpmIVCRIdeS-hQdHBmHZNcen7h7kB-8TpUw-VSbCwLLpvbyIA_ws4_NWXwLLHbSfh145/s320/USDINR-PATTERN-21-01-2019.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">USDINR</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiy-ghhpspL597S6jNjWWE4_H8bIsx2XKhxr0jTzNw4yJoAJSibhZ4WTaSc-duF5c4QDmyjpehs5bLo3akBF5148pChPuPbx2DhgE3Q5v9EdhlhLuY_zpBeWW8KgcB4krNE7VcC77PTXARp/s1600/WTI-PATTERN-21-01-2019.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiy-ghhpspL597S6jNjWWE4_H8bIsx2XKhxr0jTzNw4yJoAJSibhZ4WTaSc-duF5c4QDmyjpehs5bLo3akBF5148pChPuPbx2DhgE3Q5v9EdhlhLuY_zpBeWW8KgcB4krNE7VcC77PTXARp/s320/WTI-PATTERN-21-01-2019.png" width="320" /></a></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-11359030511502855822019-01-07T13:51:00.000+05:302019-01-07T14:00:47.205+05:30Nifty surged early Monday on an overnight boost in the Wall Street and lower USDINR<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market (Nifty Fut/India-50) is currently trading around 10842.00 in early Monday, surged by almost +0.60% on positive global cues amid overnight boost in the Wall Street as Fed’s Powell looks “patient and flexible” coupled with a “blockbuster” US NFP job data, confirming the underlying strength of the US economy rather than slow down.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But on early Monday Asian session, USDJPY plunged on lingering US political saga (partial government shutdown), renewed concern of US-China cold war as China’s President Xi reportedly asked his Army to be prepared for a “war” with American/Trump aggression! <o:p></o:p></span></div>
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<span style="font-family: "verdana" , sans-serif;"><a href="https://www.iforex.in/news/nifty-surged-early-monday-overnight-boost-wall-street-and-lower-usdinr-60965" target="_blank">For more:</a></span></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical View (Nifty, Bank Nifty, USDINR-I):<o:p></o:p></span></b></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, whatever may be the narrative <b>Nifty Fut-I</b> (NF) has to sustain over 10925 for a further rally to 10975/11050*-11130/11205 and 11245/11315-11405/11495 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 10900, NF may further fall to 10825/10745*-10660/10580 and 10500/10350-10290/10230 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 27650 for a further rally to 27785/27875-27945*/28175 and 28410/28465-28550/28800 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 27600, BNF may again fall to 27400/27300-27050*/26700 and 26500/26400-26250/26150 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 69.50 for a further rally to 70.50/70.95*-71.25/71.75 and 72.60*/73.00-73.70/74.25 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 69.15, USDINR-I may fall to 69.00*/68.50-68.25/68.00 and 67.80/67.00-66.70/66.40 in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="font-family: Verdana, sans-serif;">NIFTY NSEI</span></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY NSEBANK</span></div>
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<span style="font-family: Verdana, sans-serif;">USDINR</span></div>
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<span style="color: #330033; font-family: verdana, sans-serif;">S&P 500</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-27202358589570982292018-12-27T11:46:00.003+05:302018-12-27T11:47:39.328+05:30Nifty plunged early Wednesday on subdued global cues amid Trump’s Fed salvo, but recovered on hopes of NBFC/HFC liquidity resolution<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market (Nifty Fut/India-50) closed around 10760, surged by almost +0.73% (+78) in a holiday-thinned market on hopes of NBFC/HFC liquidity issue resolution. The market recovery was </span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">led by HDFC twins amid a report that a delegation of NBFCs and HFCs are meeting with the PM Modi under ASSOCHAM banner. </span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Earlier, t</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">he Indian market plunged by almost -1.35% (-146.00) to a low of 10536.40 on subdued global cues amid Trump’s Fed salvo and as and as Mnuchin calls bankers and prepares “plunge protection team”.</span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><a href="https://www.iforex.in/news/nifty-plunged-early-wednesday-subdued-global-cues-amid-trumps-fed-salvo-recovered-hopes-nbfchfc-liquidity-resolution-60751" target="_blank">For more:</a> </span></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><a href="https://www.iforex.in/news" target="_blank">Technical View (Nifty, Bank Nifty, USDINR-I):</a><o:p></o:p></span></b></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10800 for a further rally to 10850*/10890-10930/10975 and 11025/11050*-11085/11130 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 10775, NF may further fall to 10715/10665-10580/10540* and 10500/10350*-10250/10200 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 27100 for a further rally to 27150/27425-27525*/27625 and 27785/27875-27945/28175 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 27050-27000, BNF may again fall to 26890/26700-265550/26450 and 26300/26150-26000/25700 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 69.70 for a further rally to 70.50/70.95*-71.25/71.75 and 72.60*/73.00-73.70/74.25 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 69.50, USDINR-I may fall to 69.15*/68.50-68.25/68.00 and 67.80/67.00-66.70/66.40 in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="font-family: "verdana" , sans-serif;">NIFTY FUT (SGX-NF)</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8xrl5-3aexnIF7p-mJc-keySwMKPTFv7LUggpohFLQzrvUikY9dlMyXUrArO4YK_i9HOD4KlbLQSNVjKd0vdH8VCZI47crIxW2z7rKJO5aPSfyJuYh-qI567i2-kZpPLOSv7U0aVPvms_/s1600/BNF-PATTERN-26-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8xrl5-3aexnIF7p-mJc-keySwMKPTFv7LUggpohFLQzrvUikY9dlMyXUrArO4YK_i9HOD4KlbLQSNVjKd0vdH8VCZI47crIxW2z7rKJO5aPSfyJuYh-qI567i2-kZpPLOSv7U0aVPvms_/s320/BNF-PATTERN-26-12-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi31pg4rKCeMWS3NWKpzG7BvvibuktVqgZOb0VbYT4BTjzyrVqrPPSy49lGiyG9aJ_woTyh-6tEppYRO66ZJIY8vkzui28X61JkWqzvLNax7QaEvMVLunigFo0yF35YyWTUzfS_zruJX1wd/s1600/USDINR-PATTERN-21-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi31pg4rKCeMWS3NWKpzG7BvvibuktVqgZOb0VbYT4BTjzyrVqrPPSy49lGiyG9aJ_woTyh-6tEppYRO66ZJIY8vkzui28X61JkWqzvLNax7QaEvMVLunigFo0yF35YyWTUzfS_zruJX1wd/s320/USDINR-PATTERN-21-12-2018.png" width="320" /></a></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi03cJY6c4Zw7xkYGT7vsUVm6-mp19HjpO8F0jwMAPIqxjvsnHUDiqe-_ll2dFkExtv4FJrugGoC8ymkD7PKjnNUhGkhuCBpOWFabvfMY2xJdmwMQ92wDFaHCo4URNmPSeBiSYpgiljgBDL/s1600/SPX-500-26-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi03cJY6c4Zw7xkYGT7vsUVm6-mp19HjpO8F0jwMAPIqxjvsnHUDiqe-_ll2dFkExtv4FJrugGoC8ymkD7PKjnNUhGkhuCBpOWFabvfMY2xJdmwMQ92wDFaHCo4URNmPSeBiSYpgiljgBDL/s320/SPX-500-26-12-2018.png" width="320" /></a></div>
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<span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: "verdana" , sans-serif;">SPX-500 FUT</span></span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-2823701494196520532018-12-20T14:48:00.004+05:302018-12-20T14:48:58.508+05:30Nifty slumped early Thursday on terrible global cues after less dovish hike by the Fed<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut/India-50) is currently trading around 10910 early Thursday, slumped by almost -0.70% (-75) on terrible global cues after less dovish hike by Fed as it set to hike further twice in 2019 against market expectation of no hike or only one hike and will also not alter its B/S tapering pace in any way. As highly expected, the US Fed has hiked Wednesday unanimously its benchmark interest rate by +0.25% to +2.50% but predicted 2 more hikes in 2019 in its latest Dec dot-plots against 3 hikes in the Sep dot-plots.</span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><a href="http://the%20indian%20market%20%28nifty%20fut/India-50)%20is%20currently%20trading%20around%2010910%20early%20Thursday,%20slumped%20by%20almost%20-0.70%%20(-75)%20on%20terrible%20global%20cues%20after%20less%20dovish%20hike%20by%20Fed%20as%20it%20set%20to%20hike%20further%20twice%20in%202019%20against%20market%20expectation%20of%20no%20hike%20or%20only%20one%20hike%20and%20will%20also%20not%20alter%20its%20B/S%20tapering%20pace%20in%20any%20way.%20As%20highly%20expected,%20the%20US%20Fed%20has%20hiked%20Wednesday%20unanimously%20its%20benchmark%20interest%20rate%20by%20+0.25%%20to%20+2.50%%20but%20predicted%202%20more%20hikes%20in%202019%20in%20its%20latest%20Dec%20dot-plots%20against%203%20hikes%20in%20the%20Sep%20dot-plots." target="_blank">For more:</a> <o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I):<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11025-11050 for a further rally to 11085*/11130-11235/11275 and 11315/11405-11435*/11495 in the near term (under bullish case scenario). <o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 11000-10985, NF may further fall to 10910/10870-10845/10790 and 10740/10725-10700/10650 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 27550 for a further rally to 27625/27785-27945/28175 and 28400/28475-28550/28800 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 27500-27425/27380, BNF may fall to 27100/26900-26750/26550 and 26450/26300-26200/26000 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 69.80 for a further rally to 70.75/71.25-71.75/72.60* and 73.30/73.70-74.05/74.85* in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> </span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 69.30, USDINR-I may fall to 69.00/68.50-68.25/68.00 and 67.80/67.00-66.70/66.40 in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="line-height: 24px;"><span style="font-family: Verdana, sans-serif;">iforex.in/news: <span id="goog_702080914"></span><a href="https://www.blogger.com/"></a><span id="goog_702080915"></span></span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://www.iforex.in/news</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">Follow me: </span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">twitter.com/ASISIIFL</span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSa2uUguC7YoYmSiLE29YwCvkSGAiTxsUPym6VSdYsHAhSVQrfpIAZ9ZwE_wa4c5xI02Yu0bY6-aZ-aW3J_zqVsCh5U0CFm2vcqiv_XJJ8dhGDpTyJVJGVcXG88gaZ9khf_DCe-pt6jBN-/s1600/SGX-NF-PATTERN-19-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSa2uUguC7YoYmSiLE29YwCvkSGAiTxsUPym6VSdYsHAhSVQrfpIAZ9ZwE_wa4c5xI02Yu0bY6-aZ-aW3J_zqVsCh5U0CFm2vcqiv_XJJ8dhGDpTyJVJGVcXG88gaZ9khf_DCe-pt6jBN-/s320/SGX-NF-PATTERN-19-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">NIFTY FUT (SGX-NF)</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF7sDd2SsAAVTMXabkaX4Es7ZIN_p-xaAtTWRhuXJs9oGTlNjGHW2ViOimYJqdrWPNUhJTbCOI-cOA_OFYI8yk_62UlDNpCCkg1tDaalKax-rMBij4uS5h2L_A_LyYYjyCfTzOKYXL8rUM/s1600/BNF-PATTERN-19-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF7sDd2SsAAVTMXabkaX4Es7ZIN_p-xaAtTWRhuXJs9oGTlNjGHW2ViOimYJqdrWPNUhJTbCOI-cOA_OFYI8yk_62UlDNpCCkg1tDaalKax-rMBij4uS5h2L_A_LyYYjyCfTzOKYXL8rUM/s320/BNF-PATTERN-19-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiellZ_qxtwepexjSbCxUEvxy9WryU53m-7OSI5LzejT7OkG4RLxSi83yEEYa_gmTDBp-vDTtHxDwZgKMMnS8OnZawQfwz0nK4bnoG8u5xwMtJk6ht5p3QxIkDTkViMNP4QAHcjxwK-zdnV/s1600/USDINR-PATTERN-19-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiellZ_qxtwepexjSbCxUEvxy9WryU53m-7OSI5LzejT7OkG4RLxSi83yEEYa_gmTDBp-vDTtHxDwZgKMMnS8OnZawQfwz0nK4bnoG8u5xwMtJk6ht5p3QxIkDTkViMNP4QAHcjxwK-zdnV/s320/USDINR-PATTERN-19-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">USDINR FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaNhFtxct56963TTRKAtxudTL8pZ8K6EGBEBLKRDFk5uLmgT4jj6nA570lNL0rs7h33ZbsH5ReNH28hFI7n6PLaQRpxp8Jhh5YpxV_xEaMt-9pvioAA2TImhvGRiH5YFPIaMq8RtNJMDX0/s1600/SPX-500-PATTERN-19-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjaNhFtxct56963TTRKAtxudTL8pZ8K6EGBEBLKRDFk5uLmgT4jj6nA570lNL0rs7h33ZbsH5ReNH28hFI7n6PLaQRpxp8Jhh5YpxV_xEaMt-9pvioAA2TImhvGRiH5YFPIaMq8RtNJMDX0/s320/SPX-500-PATTERN-19-12-2018.png" width="320" /></a></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-13755826685187714942018-12-12T11:56:00.003+05:302018-12-12T11:56:37.746+05:30Nifty surged early Wednesday on hopes of a dovish monetary policy by the newly appointed RBI Governor Das<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut/India-50) is currently trading around 10670
early Wednesday, surged by almost +0.85% (+88) on hopes of a dovish monetary
policy by the newly appointed RBI Governor Das. The market is expecting revert
to the earlier “neutral” mode from the present “calibrated tightening” by the
RBI under the new Governor and a cut in SLR and CRR to enhance system (banking)
liquidity. The 10Y Indian bond yield tumbled to 7.42% on hopes for a dovish RBI
in the days ahead under the new RBI governor.<o:p></o:p></span></div>
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<span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news/nifty-surged-early-wednesday-hopes-dovish-monetary-policy-newly-appointed-rbi-governor-das-60427" target="_blank">For more:</a> </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://www.iforex.in/news/nifty-surged-early-wednesday-hopes-dovish-monetary-policy-newly-appointed-rbi-governor-das-60427</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news/nifty-stumbled-early-tuesday-patelexit-higher-usdinr-recovered-better-expected-election-outcome-mp-bjp-60387" target="_blank">More</a>:</span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://www.iforex.in/news/nifty-stumbled-early-tuesday-patelexit-higher-usdinr-recovered-better-expected-election-outcome-mp-bjp-60387</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I):<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b>
(NF) has to sustain over 10725 for a further rally to 10765/10785*-10805/10885
and 10915/10975-11025*/11085 in the near term (under bullish case
scenario). <o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 10705-10650, NF may fall to 10600-10575 and 10525/10500*-10435/10400 and 10375/10350-10300*/10250
and further 10200/10180-10050/10000 in the near term (under bear case
scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b>
(BNF) has to sustain over 26600 for a further rally to 26715/26775*-26900/27075*
and 27200/27350-27550/28000 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 26550-26400 BNF may fall to 26200/26100*-25950/25650* and 25400/25200-25000/24650
in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to
sustain over 71.75 for a further rally to 72.20/72.65*-73.05/73.35 and
73.75/74.00-74.45/74.75* in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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</div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 71.25
USDINR-I may fall to 70.90/70.40-70.00/69.75 and 69.30*/68.80-68.50/68.00 in
the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news" target="_blank">For global market news and analytics</a>: </span><span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;">https://www.iforex.in/news</span></span></div>
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<span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">Follow me</a>: </span></span><span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
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<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNFQ_NF865iymz0Oa5iISeWPrUfWHUr-Pmaws_WyjAU9BzvfNUKBg5MHiWSg-eFAfwOb2LRt9Cn9zWDyCBKDQd2oyqCg7LevtPsCk0PhjyeSwXZ3YsWkwd7YlQY6rfdRnnlFySq_f23mlR/s1600/BNF-PATTERN-11-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNFQ_NF865iymz0Oa5iISeWPrUfWHUr-Pmaws_WyjAU9BzvfNUKBg5MHiWSg-eFAfwOb2LRt9Cn9zWDyCBKDQd2oyqCg7LevtPsCk0PhjyeSwXZ3YsWkwd7YlQY6rfdRnnlFySq_f23mlR/s320/BNF-PATTERN-11-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDHohGwLBRAhyjsa3qt6oFPp-JwotX5cNm22oPtRhg1MhqgZZQ-t8nvwkVlKYX3MfQ2b8yogRCXKwFilNPiiPvVImbIfZroD9-BOpmFm9HTxbTMGXbzZO1jPmaHcRoQB0fyuiFrvP4row9/s1600/USDINR-PATTERN-11-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDHohGwLBRAhyjsa3qt6oFPp-JwotX5cNm22oPtRhg1MhqgZZQ-t8nvwkVlKYX3MfQ2b8yogRCXKwFilNPiiPvVImbIfZroD9-BOpmFm9HTxbTMGXbzZO1jPmaHcRoQB0fyuiFrvP4row9/s320/USDINR-PATTERN-11-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">USDINR-I</span></div>
<br />
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">SPX-500 FUT</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-28193837390909953882018-12-05T13:53:00.005+05:302018-12-05T13:53:45.736+05:30Nifty tumbled early Wednesday on terrible global cues; all eyes will be now on the RBI for a dovish hold<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut/India-50) is
currently trading around 10825 early Wednesday, tumbled by almost -0.75% (-80)
on terrible global cues as Dow plunged almost 800 points overnight amid confusions
over US-China trade truce and bond yield inversion, indicating a possible
slowdown in the US economy down the year. The Indian market is also under
stress on a rebound in USD and oil.</span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><span style="font-family: Verdana, sans-serif;"><b>For more:</b></span></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news/nifty-tumbled-early-wednesday-terrible-global-cues-all-eyes-will-be-now-rbi-dovish-hold-60241" style="font-family: Verdana, sans-serif;" target="_blank">Pls follow iFOREX/news </a></span></div>
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<br /></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I):<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b>
(NF) has to sustain over 10905 for a further rally to 10935/10995*-11025/11085
and 11130/11165-11235/11295 in the near term (under bullish case
scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 10885 NF may fall to 10805/10785*-10705/10675 and 10625/10595-10550/10500
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b>
(BNF) has to sustain over 26775 for a further rally to 26875/27075*-27200/27350
and 27550/27750-28000/28150 in the near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining
below 26725 BNF may fall to 26600/26500*-26300/26050 and 25850/25700-
25400/25250 in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to
sustain over 70.25 for a further rally to 70.90*/71.15-71.85*/72.20 and
72.75/73.05-73.35/73.75 in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="line-height: 150%;">
</span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 70.00,
USDINR-I may fall to 69.45*/69.30-68.95*/68.50 and 68.25/67.65-67.20/66.95 in
the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="font-family: Verdana, sans-serif; font-size: 12pt; line-height: 24px;">https://www.iforex.in/news</span></div>
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<span style="line-height: 24px;"><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnAleC4vG5P5luHQYPKDzywx486GrWb2HzLs2dQg6xp50Vil2S5kF-qAC43AafCyzxX16ND8K3v-dxbgOQ42GPZ6V_l-mZxvfYvXyRbmCNtzvDfu-Y5Ynu6_IVz86W0CSlljNUvQmEIXFF/s1600/BNF-FIBB-04-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnAleC4vG5P5luHQYPKDzywx486GrWb2HzLs2dQg6xp50Vil2S5kF-qAC43AafCyzxX16ND8K3v-dxbgOQ42GPZ6V_l-mZxvfYvXyRbmCNtzvDfu-Y5Ynu6_IVz86W0CSlljNUvQmEIXFF/s320/BNF-FIBB-04-12-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQPAZ2LgIu_mOcqDJxVHXtL7h_S5I9U98GQlMiqB-PHlEOJIcMO_7f3tt7U8LzOOphldhEzy3a8QdoO9wQz16jy0VtMDNmxJAl6HTDUJci_F1bDIWYwp9Th61IhLa3nn40tG1-AQlG1axM/s1600/USDINR-04-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQPAZ2LgIu_mOcqDJxVHXtL7h_S5I9U98GQlMiqB-PHlEOJIcMO_7f3tt7U8LzOOphldhEzy3a8QdoO9wQz16jy0VtMDNmxJAl6HTDUJci_F1bDIWYwp9Th61IhLa3nn40tG1-AQlG1axM/s320/USDINR-04-12-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">USDINR-I</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWikm4bVXmaoFlDP-099RJCEs0haetTJ47_a-xOJzfJu5gTbnNLLBqILP3uvja_-8s1CkwbfFYAeAChHNXsi-q8C0DlgNTbG79ETCRKaWzK1vTSgdQhC8z3Nx0kKBDwsyjhCo7WNMIBYth/s1600/WTI-04-12-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWikm4bVXmaoFlDP-099RJCEs0haetTJ47_a-xOJzfJu5gTbnNLLBqILP3uvja_-8s1CkwbfFYAeAChHNXsi-q8C0DlgNTbG79ETCRKaWzK1vTSgdQhC8z3Nx0kKBDwsyjhCo7WNMIBYth/s320/WTI-04-12-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">CRUDE OIL-WTI</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-11469396737243008662018-11-28T13:18:00.003+05:302018-11-28T13:19:42.726+05:30Nifty surged on hopes & hypes of US-China trade truce, PSBS recaps and an improving opinion poll in Rajasthan state election for BJP<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market (Nifty Fut) closed around
10688.45 Tuesday, surged by almost +0.45% (+49.25) on hopes of US-China trade
truce, PSBS recaps by the higher amount
and an improving opinion poll in Rajasthan for BJP. The Indian market opened
around 10610.90, in negative tone and made a low of 10585, slumped by almost
-0.50% on negative global cues amid renewed concern of an all-out US-China
trade war after Trump commented late Monday he would push ahead with additional
China tariffs at 25% (from present 10%) on $200B of Chinese goods initially,
threatening another $267B, if China does not seek a trade deal with the US.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But soon after the European market opening, the
global risk-on sentiment as-well-as the Indian
market zoomed on a report that
China’s President Xi and his US counterpart Trump agree to reach mutually beneficial agreements on trade but it soon nosedived
after a China clarification that this related to the 1<sup>st</sup> Nov phone
call by Trump to Xi and nothing new and by that time, the Indian market was almost
in the closing session.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Additionally, almost at the same
time, there was another India specific news that the government may rework its
FY-19 estimates for PSU Banks (PSBS) recaps, which may be raised to Rs.80-100B
from a prior estimate of Rs.65B. <o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">As a result, PSBS surged, helping
the overall market sentiment as additional recipes by the government may
address the issue of MSME and NBFC/HFC funding ahead of the general election.
The government is also pressurizing the RBI to let some PSBS under lending
restrictions (PCA) to lend again to “kick start” the economy. Private banks are
not so much interested to lend the MSME and NBFC/HFC sector aggressively
because of NPA risk and thus PSBS has to fund them, whatever may be the outcome
in the future. In that sense, PSBS is a victim of political populism in India.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Overall, the Indian market gained
by around 2.90% in November (till Tuesday) on the back of over 30% plunge in Brent
oil and 4.15% slump in USDINR coupled with a fall in Indian 10Y Bond yields
from 8.231% to a low of 7.669% (-56 bps) in line with global trend and some RBI/government
action. The market is now discounting no hike in Dec by RBI (dovish hold) and
the spread between RBI repo rate (6.50%) and the Indian 10Y Bond yield is now
around almost 120 bps, near to the historical average of 100 bps. But as India’s
core inflation continues to hover around elevated levels of above 6%, RBI may
be cautiously dovish.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market is also helped
by an ease of NBFC liquidity and RBI-government duet tensions. But some fall in
USDINR is also restricting a runaway Nifty rally, as almost 50% of Nifty
earnings are coming from exports, while a fall in bond yields is also positive
for Indian PSU banks as almost 50% of their EBITDA is generating from a bond portfolio.<o:p></o:p></span></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Nifty
jumped early Wednesday on positive global cues on hopes of US-China trade truce:<o:p></o:p></span></b></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></b></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On early Wednesday, Nifty jumped almost +0.35%
(+37.15) on positive global cues amid renewed hopes of US-China trade truce as
the WH CEA/NIC Kudlow clarified Trump’s Monday comments about China tariffs of
25%. Kudlow said: “Trump 'means what he says' and may hike tariffs on China if
there is no further breakthrough in talks with Xi at the G20 and Trump believes
that there is a good possibility a deal can be made with China’s Xi. Although
the White House is 'disappointed' so far in China trade talks, if China comes
to the G20 table with new ideas, there’s a good possibility Trump can make a
deal in the dinner meeting with Xi”.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But Kudlow also warned that “talks on Saturday
evening may not conclude with a statement and the White House sees Trump-Xi
meeting as a chance for Xi to change the tone and the substance of these
talks".<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On early Wednesday, the overall rally in the
Indian market is quite limited after a report that there is no plan on PSB
recaps over budgeted amount this fiscal and bank-wise
quantum to be decided after evaluation of Q2 results and the recaps may be
limited to the original plan of Rs.65B; i.e. remaining Rs.42B as of now to be
done in FY-19.<o:p></o:p></span></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical View (Nifty, Bank Nifty, USDINR-I):<o:p></o:p></span></b></div>
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<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></b></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b>
(NF) has to sustain over 10785-10805 for a further rally 10875*/10905-10975/11025-11085/11165-11230/11295
in the near term (under bullish case scenario). <o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining
below 10765-10725 NF may fall to 10680*/10620-10595/10550 and 10495/10450-10410/10340
in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b>
(BNF) has to sustain over 26550 for a further rally to 26625/26700-26900*/27200
and 27350/27550-27750/28000 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining
below 26500 BNF may fall to 26450/26200- 26050*/25900 and 25700/25425-25350/25200
in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to
sustain over 70.25 for a further rally to 70.75/71.15-71.85*/72.20 and
72.75/73.05-73.35/73.75 in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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</span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 70.00,
USDINR-I may fall to 69.45/69.30-68.95*/68.50 and 68.25/67.65-67.20/66.95 in
the near term (under bear case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , sans-serif;">For more:</span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="color: #330033; font-family: "verdana" , sans-serif;">https://www.iforex.in/news</span><br />
<span style="color: #330033; font-family: "verdana" , sans-serif;"><br /></span>
<span style="color: #330033; font-family: verdana, sans-serif;">http://twitter.com/ASISIIFL</span></div>
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<span style="color: #330033; font-family: "verdana" , sans-serif;"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQI7eHWFhTLv-yHvC87NtCYKbRwaCrJEUqnPosJYGmOZzRPFTrQOcHRSwQ0OQl0807aYoOsaMpcNDjgi0OhF1zTuJ8_xeON5Yh1337Ed05uDcZRdiVBAIBJkkG2pAJ7mPVnOq0nMes12ci/s1600/SGX-NF-PATTERN-27-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQI7eHWFhTLv-yHvC87NtCYKbRwaCrJEUqnPosJYGmOZzRPFTrQOcHRSwQ0OQl0807aYoOsaMpcNDjgi0OhF1zTuJ8_xeON5Yh1337Ed05uDcZRdiVBAIBJkkG2pAJ7mPVnOq0nMes12ci/s320/SGX-NF-PATTERN-27-11-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiAF7etEqDI2nWkb0_btgJhytJ4Tc95KINiiXJ_QZnuVC0g_4Iiet_G2lrJq69dMuKIE9bUrm4Zu18wL_lkM3c74xRKS8qSyyPq8Hnk0EYksUOoezTX5NVmFaXXtCV-0pfDEvCqCQRUWiH/s1600/BNF-PATTERN-27-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiAF7etEqDI2nWkb0_btgJhytJ4Tc95KINiiXJ_QZnuVC0g_4Iiet_G2lrJq69dMuKIE9bUrm4Zu18wL_lkM3c74xRKS8qSyyPq8Hnk0EYksUOoezTX5NVmFaXXtCV-0pfDEvCqCQRUWiH/s320/BNF-PATTERN-27-11-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">BANK NIFTY FUT</span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfwxNHvTlsNi-bBJw_YcMw-tQlMXIZoSjLUC4f3GTOdcq0aweb_28GKjAKem_evtSNhMXW7GNltBWCsi4ySs6_G9igJfby_GU5aHG8nuev7MNNbd_qqoB6IDXqTAw5ynOU6NSsnT64W1nq/s1600/USDINR-PATTERN-27-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfwxNHvTlsNi-bBJw_YcMw-tQlMXIZoSjLUC4f3GTOdcq0aweb_28GKjAKem_evtSNhMXW7GNltBWCsi4ySs6_G9igJfby_GU5aHG8nuev7MNNbd_qqoB6IDXqTAw5ynOU6NSsnT64W1nq/s320/USDINR-PATTERN-27-11-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">USDINR FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsAXtcLlSX1KjFfVacSwAcLhOdDUkwE0lmghPXwv6n_QYShZNUSks0Ao_uhVE77HfVv05D06FcIfVSd0NlHAKS8RyPhNCIjKnn8tG_DraYk6cSc9wihKIki27plGZ8Im3NPWS1ftn0K__r/s1600/WTI-PATTERN-27-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsAXtcLlSX1KjFfVacSwAcLhOdDUkwE0lmghPXwv6n_QYShZNUSks0Ao_uhVE77HfVv05D06FcIfVSd0NlHAKS8RyPhNCIjKnn8tG_DraYk6cSc9wihKIki27plGZ8Im3NPWS1ftn0K__r/s320/WTI-PATTERN-27-11-2018.png" width="320" /></a></div>
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<span style="color: #330033; font-family: "verdana" , sans-serif;">OIL-WTI </span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-7591060909634465682018-11-20T12:11:00.002+05:302018-11-20T12:11:20.151+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 20/11/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut) slips Tuesday on
subdued global cues and the concern of RBI autonomy. The Indian market (Nifty
Fut/India-50) closed around 10775 Monday, surged by almost +0.83% on positive
Asian cues, lower USD, lower oil and hopes of RBI truce with the government
coupled with a survey that BJP will win almost 300 seats alone in the
forthcoming general election. The market was already discounted that the RBI
governor will not resign after his meeting with
the PM and FM last week.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">So far Nifty rallied almost +3.63% in November
after a plunge of almost -11.40% in October and September on higher USD, higher
oil, negative global cues, NBFC/HFC liquidity crisis (default-ILF&S),
hawkish RBI and “war of words” between the RBI and the Indian government.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">All eyes were on the RBI board meeting on Monday.
After almost 9-hours of marathon meeting, it seems that although there may be a
truce, for the time being, RBI blinks
first and as per the government directive and will increase liquidity (cash
flow) in the system. Some of the regulatory power of RBI/MPC will be shared by
government appointees BFS (Board for Financial Supervision) or simply by the
RBI board. This raises a serious question of central bank independence
(autonomy) and RBI/MPC may now function like a corporate board rather than an
independent institution, free of political interference.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The government basically wants the RBI to take an
“accommodative” stance in lieu of “calibrated tightening” in this global era of
dual QT and in the process has entered into an elite membership of some
countries, which are now actively interfering in central bank’s monetary policy
(Argentina, Turkey and the US/Trump). The Indian government is now “desperate”
to kick-start lending to the MSME sector
in a big way ahead of the election, which could cause a big surge in NPA/NPL in
the years ahead as a result of such political populism. The government is also
eyeing the RBI surplus to fund its fiscal deficit, a plan which may be unheard
before in the history of central banks.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Technical
Aspect:<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Updated:
10:00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10727 (-40; -0.37%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 26220 (-99; -0.38%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
71.39 (-0.34; -0.24%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2688 (-8; -0.32%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10690/10635*-10595/10550-10495/10450-10410/10340-10300/10270<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10785/10805*-10875/10905-10975/11025-11085/11165-11230/11295<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 10000-10805<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">26250/26050*-25900/25700-25425/25350-25200/24950-24850/24600<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">26400/26550*-26700/26900-27200/27350-27550/27750-28000/28200<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 24250-26550<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.65/71.20-70.90*/70.45-70.15/70.00-69.70/69.30-69.00/68.25<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.10/72.55-72.85/73.35-73.75/74.05-74.35/74.75-75.00/75.65<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 70.90-74.75<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2680/2645*-2620/2590-2580/2560-2535/2520-2490/2445<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2700/2725*-2755/2775-2795/2820-2835/2860-2880/2905<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2590-2820</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10805 for a
further rally to 10875/10905-10975/11025-11085/11165-11230/11295 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10785-10765/10725 NF may fall to 10690/10635-10595/10550-10495/10450-10410/10340
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 26400
for a further rally to 26550/26700-26900/27200-27350/27550-27750/28000 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25350-26250 BNF may fall to 26050/25900-25700/25425-25350/25200-24950/24850
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 71.65 for a further
rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.10/72.55-72.85/73.35-73.75/74.05-74.35/74.75 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 71.20, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">70.90/70.45-70.15/70.00-69.70/69.30-69.00/68.25
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to
sustain over 2725 for a further rally to 2755/2775-2795/2820-2835/2860-2880/2905
in the near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2715-2700 SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2680/2645-2620/2590-2580/2560-2535/2520
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10700; Q2FY19 EPS: 413.70; Q2FY19 PE:
25.86; Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 26200; Q2FY19 EPS: 495.50; Q2FY19 PE:
52.88; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2700; TTM Q2-2018 EPS: 123; TTM PE:
21.95; Proj 2019 EPS: 150-160; Avg FWD PE: 18; Proj 2019 EPS: 150-165; Proj
Fair Value: 2700-2970<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS</a>: </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="http://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>: </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-z_sKFjA4gByfI12k-U0UhDH7rAuXeumzaysYVfo_R0NNluwqN9RYRQveqtF_k-SeK4f2171cahh4egkO4CMixGicg4XdwBAP0xQqPLkl_3n-9bABo0XGgdOlsRhRD_s_HVkrnB-jmsAJ/s1600/SGX-NF-PATTERN-19-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-z_sKFjA4gByfI12k-U0UhDH7rAuXeumzaysYVfo_R0NNluwqN9RYRQveqtF_k-SeK4f2171cahh4egkO4CMixGicg4XdwBAP0xQqPLkl_3n-9bABo0XGgdOlsRhRD_s_HVkrnB-jmsAJ/s320/SGX-NF-PATTERN-19-11-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC77CswTixkhk9F8A9_5vLr50lhQ2BqCF11PRxn0i0GWWo3283LV-IQ-A2xsgOwP0q9QMURtXfdZo5viNY_k8bquDDoLQTQ87QcPvHB7uw9XFX22XTNILGGrHkpdf-ZBl_JuTmO2gz0BKV/s1600/BNF-PATTERN-19-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjC77CswTixkhk9F8A9_5vLr50lhQ2BqCF11PRxn0i0GWWo3283LV-IQ-A2xsgOwP0q9QMURtXfdZo5viNY_k8bquDDoLQTQ87QcPvHB7uw9XFX22XTNILGGrHkpdf-ZBl_JuTmO2gz0BKV/s320/BNF-PATTERN-19-11-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRSyBbdgQ6qTMVkI_yT_sCGPchPLMnb7gKd-jqOCLY_VW6KSs-VDQrNcbX39s-rxEma-EXrvhTqfAnsuKEX-pjZ298oUuAzjPlgW3Ma4qUnDNyAs43gNZXiV57SqGe320Id6EKKH4mjbPX/s1600/SPX-500-FIBB-19-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRSyBbdgQ6qTMVkI_yT_sCGPchPLMnb7gKd-jqOCLY_VW6KSs-VDQrNcbX39s-rxEma-EXrvhTqfAnsuKEX-pjZ298oUuAzjPlgW3Ma4qUnDNyAs43gNZXiV57SqGe320Id6EKKH4mjbPX/s320/SPX-500-FIBB-19-11-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">SPX-500</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJvbAu1ZJKwtWhP-4nHlU911SC3feymQg2o6etmr_6ogj7kp9NHMSWeIfqDsb5S-ZAomaX4MjfL9kg11yG5OCXaC_7YGDglJFvvbQgRs0_4_k9kLlTc8QUwbcG0v-ght3JftRfiZqVlZuC/s1600/WTI-FIBB-19-11-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjJvbAu1ZJKwtWhP-4nHlU911SC3feymQg2o6etmr_6ogj7kp9NHMSWeIfqDsb5S-ZAomaX4MjfL9kg11yG5OCXaC_7YGDglJFvvbQgRs0_4_k9kLlTc8QUwbcG0v-ght3JftRfiZqVlZuC/s320/WTI-FIBB-19-11-2018.png" width="320" /></a></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">CRUDE OIL-WTI</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-57884701914217879132018-11-05T14:33:00.002+05:302018-11-05T14:33:22.535+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 05/11/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Updated:
12:30<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut) slumped Monday on
subdued global cues amid US-China trade war/truce and political tensions ahead
of the US election. Also, rebound in
USDINR is affecting the Indian market sentiment after an upbeat US NFP report
and higher wage growth data on Friday coupled with European geopolitical
jitters and ongoing Italian budget aftershocks. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">The recent</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> slump in oil helped
the Indian market apart from fall in USDINR and upbeat global cues on Friday amid hopes of US-China trade truce. Looking
ahead oil may also surge after the US midterm election amid Iran sanction
implementation. Iran waivers granted to eight countries including India could
be only temporary. Trump waiver was one of the causes of recent oil slump as
Trump is going soft on his Iran narrative to keep oil down ahead of the midterm
election.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">But overall the Indian market is under stress amid
ongoing “war of words” between the RBI and the government, which is far from
over. The government is now basically pressurizing the RBI to bail out the
NBFC/HFC and also transfer the central bank’s “excess profits” to transfer to
it to fund the growing fiscal deficit.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">In brief, RBI’s independence maybe now at serious
question mark as the central bank is on the “calibrated tightening” mode in
line with the Fed/growing chorus of global QT. Ahead of the election, the government
wants RBI to be “accommodative” to support credit “growth” without any need for
“price stability” (inflation control). All focus is now on the RBI-MPC, whether
they will continue under such political pressure or put their papers in
protest.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On the positive side, the October service PMI
surged to 52.20 from the prior slump of
50.9, boosted by stronger orders and accompanied by a slower increase in both
input costs and prices charged. This, in turn, helped overall economic activity
and encouraged firms to accelerate hiring at the fastest pace in six months. Higher
USDINR also helped as most of the Indian service sectors are export-heavy.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Overall, the October Indian composite PMI jumped
to 54.0 from 51.6 sequentially, led by stronger services activity and
better-than-expected growth in manufacturing, with employment rising at its
quickest rate in nearly 8.5-years. But companies are cautious about growing geopolitical uncertainties.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">As per Markit: “Cost pressures faded in October.
At the same time, a robust expansion in workforces – one of the best seen for
over seven-and-a-half years – added to firms’ expenses. The waning of cost
inflation, coupled with competitive pressures, resulted in only a marginal
uptick in charges. Some firms said the tougher
competition was preventing them from lifting their prices. Weaker cost
pressures, alongside a decline in oil prices, may prevent inflation from
shooting above the RBI’s medium-term target of 4%”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">“A positive outlook is by no means assured,
however. With business expectations about future activity dropping to the
lowest for 20 months in the manufacturing
and service sectors, firms are becoming more guarded in the face of growing
uncertainties. The sustainability of current market conditions and political
worries both weighed on optimism and pose downside risks to growth”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10525 (-50; -0.46%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25685 (-65; -0.25%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.22 (+0.58.; +0.80%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2719 (-5; -0.20%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10495*/10440-10390*/10350-10300/10270-10240/10190-10130/10100<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10580*/10600-10660*/10705-10750/10805-10840/10875-10905/10995<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 10000-10705<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25700/25450-25250/25100-24900/24650-24450/24250-24000/23800<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25875/25950-26150/26300-26500/26700-26900/27200-27350/27750<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 24250-25875<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.00/72.55*-72.15/71.55-70.90/70.45-70.00/69.70-69.30/69.00<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.50/73.75*-74.05/74.35-74.75/75.00-75.65/76.00-76.45/77.00<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 72.55-76.45<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2715/2700*-2680/2650*-2620/2590-2570/2535-2520/2470<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2755/2780*-2810/2825*-2855/2880-2905/2925-2945/2960<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2570-2780</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10600 for a
further rally to 10660/10705-10750/10805-10840/10875-10905/10995 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10580 NF may fall to 10495/10440-10390/10350-10300/10270-10240/10190
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25875
for a further rally to 25950/26150-26300/26500-26700/26900-27200/27350 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25825-25775 BNF may fall to 25700/25450-25250/25100-24900/24650-24450/24250
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 72.55-73.00 for a
further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.50/73.75-74.05/74.35-74.75/75.00-75.65/76.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 72.15, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.55/70.90-70.45/70.00-69.70/69.00
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to
sustain over 2755 for a further rally to 2780/2810-2825/2855-2880/2905-2925/2945
in the near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2745-2735 SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2715/2700-2680/2650-2620/2590-2570/2535
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10500; Q4FY18 EPS: 402; Q4FY18 PE: 26.12;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25700; Q4FY18 EPS: 519; Q4FY18 PE: 49.52;
Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2700; TTM Q2-2018 EPS: 123; TTM PE:
21.95; Proj 2019 EPS: 150-160; Avg FWD PE: 18; Proj 2019 EPS: 150-165; Proj
Fair Value: 2700-2970<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtlp_oEk1TApuJSZiLR7klCJ8kcWAnWgukFc62j9xZAKhHaN9fJlQK7g0BEKgW6WjrHjh-89VOUEeGS1M71VlH5vA7aL2hrv2iu_epG8a893Lhd6aXubqIqBiw5ub8PDTeqRz2d70ulaYi/s1600/SGX-NF-PATTERN-03-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtlp_oEk1TApuJSZiLR7klCJ8kcWAnWgukFc62j9xZAKhHaN9fJlQK7g0BEKgW6WjrHjh-89VOUEeGS1M71VlH5vA7aL2hrv2iu_epG8a893Lhd6aXubqIqBiw5ub8PDTeqRz2d70ulaYi/s320/SGX-NF-PATTERN-03-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3lwtAgyAqaFs_uf_pj0_gFG1Ien4DZV__6Iso5fwiakqIrbXiGzZwF4u3Dr35oWn_R_JLDQfVPDB4GmihTRv-KMskjIrCKcZzYt7KIfRsMio4KV7x1EO5eAZUVIBgsbYEK8gyw04oXN-/s1600/BNF-PATTERN-03-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG3lwtAgyAqaFs_uf_pj0_gFG1Ien4DZV__6Iso5fwiakqIrbXiGzZwF4u3Dr35oWn_R_JLDQfVPDB4GmihTRv-KMskjIrCKcZzYt7KIfRsMio4KV7x1EO5eAZUVIBgsbYEK8gyw04oXN-/s320/BNF-PATTERN-03-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_b4xVA5PfaM__RFVSpOxtyVFDfPCrl0hXZDi_ALOe6Awaq9ln9YwatQ7h7W7EPxIrOMaTN9oXWo_LW_vcRBaIxDyvdzOZ-zukH3Cxwvcpcg8IHqm3tYAJQ6r-C-qd_pZwilvKlzFa1ceX/s1600/EURUSD-PATTERN-02-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_b4xVA5PfaM__RFVSpOxtyVFDfPCrl0hXZDi_ALOe6Awaq9ln9YwatQ7h7W7EPxIrOMaTN9oXWo_LW_vcRBaIxDyvdzOZ-zukH3Cxwvcpcg8IHqm3tYAJQ6r-C-qd_pZwilvKlzFa1ceX/s320/EURUSD-PATTERN-02-10-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> EURUSD</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-4831913016615074162018-11-01T11:35:00.004+05:302018-11-01T11:35:49.493+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 01/11/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Updated:
09:00<o:p></o:p></span></b></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut) slips early Thursday
on the concern of RBI-Government duet over the question of central bank
independence and NBFC bailout. But the market recovered to some extent from the
session low of around 10371 and is currently trading around 10425, edged up by
almost +0.25% on better than expected October Manufacturing PMI, which rose to
53.1 from prior 52.2, higher than the consensus of 51.9.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market recovered from a deep slump on
Wednesday as the government dials back its RBI rhetoric, seeing the adverse
market reaction. Nifty recovered from 10105 and jumped to a high of 10396 as
the government acknowledged explicitly that the central bank’s autonomy, within
the framework of the RBI Act, is an “essential and accepted governance
requirement”.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The market was also boosted by another report that
Iran may accept Rupee payment mechanism for its oil export to India to avoid
Trump/US sanction. The market is also boosted by India’s jump in “ease of doing
business”.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">In brief, as the “war of words” between the
government and RBI broke out, there are reports that RBI governor and the
entire MPC may resign on the issue of political (government) interference in
RBI’s autonomy. This is an unprecedented situation in India, where the
government is also eyeing the RBI surplus of around Rs.3T to fund fiscal
deficit. <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Apart from NBFC/HFC funding (bailout), the
government is also pressurizing the RBI to ramp up MSME funding (ahead of the
election) and asked the central bank to let some PSU banks out of PCA, so that
they could resume lending. The government is apprehending that India’s growth
could slow down as NBFC almost stops
lending due to “lack of liquidity”. <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The RBI said it’s not a liquidity issue but it’s an NPA/NPL problem with the NBFC/HFC. Both the
government and RBI may be right as the yield of the commercial bond market (CP) is now abnormally high and there are
growing stressed assets in the NBFC/HFC sector involving business as-well-as personal loan accounts.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">If the present RBI governor Patel and his team
(MPC) quits, then it could be a “doomsday” like a scenario for the Indian financial market in the coming days. All
eyes will be now on RBI/MPC meeting on 13<sup>th</sup> November.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10423 (+43; +0.41%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25275 (+125; -0.50%)<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
74.10 (-0.10.; -0.15%)<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2719 (+8; +0.30%)<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10400/10360*-10325/10300*-10250/10190-10155/10120-10050/10000<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10450/10495*-10555/10595*-10625/10650-10700/10725-10765/10785<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950/10000-10450/10725<o:p></o:p></span></b></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25200/24900*-24650/24550-24250*/24100-24000/23800-23600/23300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25300/25450*-25575/25725-25875*/25950-26150/26300-26500/26650<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600/24250-25450/25875<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.70*/73.45-73.00*/72.55*-72.25/72.00-71.50/71.25-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.45/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-76.45<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2715/2700*-2680/2650*-2620/2590-2570/2535-2520/2470<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2755/2780*-2810/2825*-2855/2880-2905/2925-2945/2960<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2570/2600-2735/2780</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10475-10495
for a further rally to 10555/10595-10625/10650-10700/10725-10765/10785 in the
near term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10455 NF may fall to 10400/10360-10325/10300-10250/10190-10155/10120
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25350-25450
for a further rally to 25575/25725-25875/25950-26150/26300-26500/26650 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25300 BNF may fall to 25200/24900-24650/24550-24250/24100-24000/23800
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.45-73.70 for a
further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.45/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00-72.55, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.25/72.00-71.50/71.25-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to
sustain over 2755 for a further rally to 2780/2810-2825/2855-2880/2905-2925/2945
in the near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2745-2735 SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2715/2700-2680/2650-2620/2590-2570/2535
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10400; Q4FY18 EPS: 402; Q4FY18 PE: 25.87;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25300; Q4FY18 EPS: 519; Q4FY18 PE:
48.75; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2700; TTM Q2-2018 EPS: 123; TTM PE:
21.95; Proj 2019 EPS: 150-160; Avg FWD PE: 18; Proj 2019 EPS: 150-165; Proj Fair
Value: 2700-2970<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS:</a> </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME:</a> </span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4YH9fhUTa78HvmE6LxEaFknsVm_-00Jvrw3JPps6XYhjGQDgPsa90JC1ixcj-a5r4aaMmDKdkDRrXzac1ZN-Ib32Lc0gzF0-AQFlUIFwFnrlGnth885YjR2iFMbCi5ezwbYzXfQk6pB_Y/s1600/SGX-NF-PATTERN-31-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4YH9fhUTa78HvmE6LxEaFknsVm_-00Jvrw3JPps6XYhjGQDgPsa90JC1ixcj-a5r4aaMmDKdkDRrXzac1ZN-Ib32Lc0gzF0-AQFlUIFwFnrlGnth885YjR2iFMbCi5ezwbYzXfQk6pB_Y/s320/SGX-NF-PATTERN-31-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRZiPw0jCVbN3Cc1LxNxkwviWlYQkEeOMPBJxhN3mSFNpDBAj1kmmo6eeXGFinYPx2aGplap9-0iVs8fUDwm3YYI5GnKfALi9tKtuMqWltmmCgYL0eCAP7pebSIbxWBYqPXxxQ40tVMBt_/s1600/BNF-PATTERN-31-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRZiPw0jCVbN3Cc1LxNxkwviWlYQkEeOMPBJxhN3mSFNpDBAj1kmmo6eeXGFinYPx2aGplap9-0iVs8fUDwm3YYI5GnKfALi9tKtuMqWltmmCgYL0eCAP7pebSIbxWBYqPXxxQ40tVMBt_/s320/BNF-PATTERN-31-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb2KWZkE7q5baeCAUoAlW_kxUbILpzl-mOX_SnJ0DgVgIIPkd9trCs9ynkqby2tXKpbvHPZByzIK6RVKjgifYjtn33e5vGBn9io2nNsQ5MYogHWMniaDkb87jZ931uno5eD3xrOhMCy2J7/s1600/USDINR-PATTERN-31-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjb2KWZkE7q5baeCAUoAlW_kxUbILpzl-mOX_SnJ0DgVgIIPkd9trCs9ynkqby2tXKpbvHPZByzIK6RVKjgifYjtn33e5vGBn9io2nNsQ5MYogHWMniaDkb87jZ931uno5eD3xrOhMCy2J7/s320/USDINR-PATTERN-31-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">USDINR FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKOcQblHrmoT4sGAtxOpTYLwqJ7eAXa470Q61ZbB2HftBzAH_zKDhcePpG3A8HWJGdNFGPmuUFVPpidWNaAsTnV_OoiDH2bJ4KadJ0jiPB6SoChtTCN7QoLX9dhGwnPzm_zq-Wa-u47Z1L/s1600/USDJPY-FIBB-31-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKOcQblHrmoT4sGAtxOpTYLwqJ7eAXa470Q61ZbB2HftBzAH_zKDhcePpG3A8HWJGdNFGPmuUFVPpidWNaAsTnV_OoiDH2bJ4KadJ0jiPB6SoChtTCN7QoLX9dhGwnPzm_zq-Wa-u47Z1L/s320/USDJPY-FIBB-31-10-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDJPY</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-48315432002956327712018-10-30T13:52:00.004+05:302018-10-30T13:52:58.951+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 30/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market is under stress Tuesday on mixed
global cues amid US-China trade war squabbling. On Monday Dow tumbled over 500
points on tech and industrials sell-off on a report that Trump may bring the
rest of the Chinese exports (around $257B) under an additional tax of 10-25% if
his planned November (G20) meeting with the Chinese President does not yield
any result. Eventually, Dow closed around
200 points down on Monday after recovering in the last trading minutes.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On early Tuesday, there was another report (trial balloon)
that in an interview (to be aired soon), Trump has “predicted a great deal”
with China on trade. In any way, being a “slave of Dow”, after nearly 10%
correction, Trump may be “nervous” of a stock market plunge ahead of the
November mid-term election and thus softening his rhetoric to have some trade
deal with China.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">In line with the global
trend, the Indian market also recovered from its recent low of around 10000
levels coupled with the support of by
lower USD, lower oil and lower bond yields. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Apart from NBFC/HFC (infra and housing) crisis,
there is another crisis brewing in the form of RBI vs the government tussle
over various issues ranging from the issue of central
bank independence and alleged lack of supervision in bank’s indiscriminate
lending from 2008 including the recent ILF&S debt crisis (default and
collapse), which may be “too big to fall”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On Tuesday, the Indian FM said: “At the time of
global economic crisis, banks lent indiscriminately, while the central bank
(RBI) looked the other way. The credit growth was 31% as opposed to a standard
14%. Now, the bank’s business/lending
models became easier with the advent of IBC. India needs to sustain a high level of economic growth”. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Clearly, the Indian NPA crisis is now a political
issue. The government is now on the damage control mission. On Tuesday, the
Indian finance ministry secretary (DEA) Garg said: “The government will stick
to fiscal deficit target for FY-19 and have 10% GDP growth in dollar terms. Policies
that government has pursued have stabilized FDI, while global events have
impacted portfolio flows. India is trying to stabilize capital inflows, while global
factors have impacted capital inflows. Have seen some withdrawal from the debt market, but the government is now trying
to stabilize inflows”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">India now badly need a resumption of FPI/FDI inflows as its USD (FX) reserve is dropping
like a “rock” to around $390B levels now. The Indian rupee (INR) also got some support
on a $75B SWAP (USD) agreement with Japan in this time of dollar crisis
(shortage). The Indian PM has to go to Japan for this SWAP agreement, but this
may be a “Band-Aid” treatment for the deep “cut”. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The USDINR may soon jump above 75-80 levels as the
US dollar index could regain its strength on the slump in EUR and GBP (German,
Italian, British political issues) coupled with weak Indian macros, the USD
shortage factor, Trump trade war rhetorics, and
a hawkish Fed, looking for a nominal US rate above the neutral (3%).<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On Tuesday, PSU banks are upbeat as the government
could announce some package for MSME credit growth ahead of the election.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 11:40</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10265 (-2-; -0.20%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 24975 (-71; -0.30%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.81 (+0.10.; +0.13%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2657 (+14; +0.53%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10235/10190*-10155*/10120-10050/10000-9950/9850-9700/9650<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10290/10325*-10375*/10450-10500/10585-10625/10650-10685/10725<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950-10450<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">24900*/24650-24550/24250*-24100/24000-23800/23600-23300/23150<b><o:p></o:p></b></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25300*/25500-25700/25950*-26100/26300-26500/26650-26750/26950<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600-25950<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.55*/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-75.00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2620*/2590-2570*/2535-2505/2490-2470/2445<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2675*/2700-2715*/2735-2775/2795-2815/2845<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2570-2715</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10325 for a
further rally to 10375/10450-10500/10585-10625/10650-10685/10725 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10305-10290 NF may fall to 10235/10190-10155/10120-10050/10000-9950/9850
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25300
for a further rally to 25500/25700-25950/26100-26300/26500-26650/26750 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25250 BNF may fall to 24900/24650-24550/24250-24100/24000-23800/23600
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.25-73.45 for a
further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.55/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.55/72.25-72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to
sustain over 2675 for a further rally to 2700/2715-2735/2775-2795/2815 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2665-2650, SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2620/2590-2570/2535-2505/2490
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10200; Q4FY18 EPS: 402; Q4FY18 PE: 25.37;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 24900; Q4FY18 EPS: 519; Q4FY18 PE:
47.98; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<br /></div>
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT </span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhV462sjg5veAzasCdQ_cODmspyqkhrCIYuQ4AWtahcHpRHPTfPXX6rVbTmA9hVvOHZe52ChqcJWDGIdsWlYuWFcXxKZ6hjKNRM_3w23WZ7UO9IqgwO-aPdgLVP-vrshaRdPoww_E2HrDBL/s1600/BNF-29-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhV462sjg5veAzasCdQ_cODmspyqkhrCIYuQ4AWtahcHpRHPTfPXX6rVbTmA9hVvOHZe52ChqcJWDGIdsWlYuWFcXxKZ6hjKNRM_3w23WZ7UO9IqgwO-aPdgLVP-vrshaRdPoww_E2HrDBL/s320/BNF-29-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<div style="text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEioaABudaqo4l2GsrdvSXftxIez1XPBXPdT9unvvaZEAfYbXG9ZcSFZuFnKm-YnyvXoywFHkKKPsQOnkxZ4Wrj3uB_o71_PWza0GjzY8IWBko_0jDEXMq8n-xttXcIWceDHmjnTaXXvSfT9/s1600/SPX-500-29-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEioaABudaqo4l2GsrdvSXftxIez1XPBXPdT9unvvaZEAfYbXG9ZcSFZuFnKm-YnyvXoywFHkKKPsQOnkxZ4Wrj3uB_o71_PWza0GjzY8IWBko_0jDEXMq8n-xttXcIWceDHmjnTaXXvSfT9/s320/SPX-500-29-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">SPX-500</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvefPFmbw1v8M2Jz16rL3vXIfcImnNcjzssk3TnQW2FwIF58I4Z5NATs7C4TKpoPv74Vjp-wsJ4k00Bh0lfFkOOPF5qN_fhgFePw-bQdOciEOJ35SY8r2f04rBvDEvWAC2jtncg5B4CRIn/s1600/USDX-PATTERN-29-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvefPFmbw1v8M2Jz16rL3vXIfcImnNcjzssk3TnQW2FwIF58I4Z5NATs7C4TKpoPv74Vjp-wsJ4k00Bh0lfFkOOPF5qN_fhgFePw-bQdOciEOJ35SY8r2f04rBvDEvWAC2jtncg5B4CRIn/s320/USDX-PATTERN-29-10-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">US DOLLAR INDEX (DXY)</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-34550741294524197272018-10-26T12:04:00.004+05:302018-10-26T12:04:59.251+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 26/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market opened in deep red Friday on
terrible global cues as overnight Dow rally of +400 points on hopes of a blockbuster
report card turned into a panic of -300
points in the early Asian session amid mixed report card and China’s Yuan slump
to almost 7 levels against the US dollar. The “risk-on” trade now hates two
things-lower US/global bonds (higher yields-higher borrowing costs) and lower
Yuan. <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The US market (SPX-500) is now already in the “bear” territory as it’s sustaining well below
the 200 DEMA level of 2800 and in market terms, is in correction territory as
it’s down by almost 10% from the recent top of around 2945. It now seems that
China and the US market is now competing, who fell more ahead of the November
mid-term US election. China, Russia and also Japan are steadily reducing their
US Treasury holdings, which may be the primary reason behind the recent surge
in US bond yields and market plunge. A few months ago, China has already warned about a Dow plunge as one of its
“nuclear options” to confront “Trump trade
war”.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Apart from negative global cues, the Indian market
is under stress on lingering “liquidity” (default) issues of various NBFC/HFC
as housing and infrastructure are in deep trouble for higher borrowing costs,
price escalation, subdued real wage growth, and
worsening macros. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The combined fiscal deficit of India is surging at
an alarming rate ahead of the election as various state governments and also
the federal government is now implementing pay commission recommendations for higher
salary/pensions for government employees.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The political populism coupled with a devalued
currency (INR), higher borrowing costs and surging oil would be negative for
the Indian economy and corporate results will bound to affect in the coming
days in addition to various corporate governance issues.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:55</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10050 (-110; -1.20%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 24725 (-225; -0.90%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.35 (+0.08.; +0.11%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2660 (-28; -1.00%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10030/10000*-9950*/9850-9700/9650-9550/9450<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10100/10155*-10200*/10225-10260/10305-10345/10395<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950-10600<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">24650*/24450-24250*/24100-24000/23800-23600/23300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">24925*/25050-25200*/25400-25600/25700-25950/26100<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600-26075<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.55*/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-75.00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2675/2650*-2620*/2590-2570/2535-2505/2475<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2715/2735*-2775*/2795-2815/2845-2875/2890<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2535-2760</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10225 for a
further rally to 10260/10305-10345/10395-10445/10550 in the near term (under
bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10200-10155 NF may fall to 10030/10000-9950/9850-9700/9650-9550/9450
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25050
for a further rally to 25200/25400-25600/25700-25950/26100 in the near term
(under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25000-24925 BNF may fall to 24650/24450-24250/24100-24000/23800-23600/23300
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.25-73.45 for a
further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.55/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.55/72.25-72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to
sustain over 2715 for a further rally to 2735/2775-2795/2815-2845/2875 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2705-2690, SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2675/2650-2620/2590-2570/2535-2505/2475
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10000; Q4FY18 EPS: 402; Q4FY18 PE: 24.88;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 24600; Q4FY18 EPS: 519; Q4FY18 PE:
47.40; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: left;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS:</a> </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://IFOREX.in/news</span></span></div>
<div style="line-height: 150%; text-align: left;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
<div style="line-height: 150%; text-align: left;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME:</a> </span></span><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6z-03ae2k0GuiV5xZxyUHklSDVGtcqsEcqjYZSpbgnQi6A1SPKCKA7kburDJcG-nw6cCm0DUwYeLUHusZx0LjY3n9qTH9AuBa0ywFAXl92BV8QHoD4PVErlwg3jLg-l9AYzOr1qVuunDm/s1600/SGX-NF-PATTERN-25-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6z-03ae2k0GuiV5xZxyUHklSDVGtcqsEcqjYZSpbgnQi6A1SPKCKA7kburDJcG-nw6cCm0DUwYeLUHusZx0LjY3n9qTH9AuBa0ywFAXl92BV8QHoD4PVErlwg3jLg-l9AYzOr1qVuunDm/s320/SGX-NF-PATTERN-25-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEDS8nkTr2tBBJ0Au6l0AHvXDshzG-tYyLwOHAY3nTePz7ODm4ZyBgXxUegfNJvwZ4Gx6wZxn7rScu1BLX_AvDjpaClWyxlBr2lQKOvPdzbJHOB_fat44qxURk9-LIFQni2NoMzMZv_5Lz/s1600/BNF-PATTERN-25-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEDS8nkTr2tBBJ0Au6l0AHvXDshzG-tYyLwOHAY3nTePz7ODm4ZyBgXxUegfNJvwZ4Gx6wZxn7rScu1BLX_AvDjpaClWyxlBr2lQKOvPdzbJHOB_fat44qxURk9-LIFQni2NoMzMZv_5Lz/s320/BNF-PATTERN-25-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgDTrmpdzCUyS0Id-Jet0XJ8oPTTEbhealyKMrHIQR8eYUkniNSbUurWgmUGgBKXnqknOWfGz0rZyQfHIhlBHq74XU-n88u0lKIdv4yk2LypIzvnnY-Um6tz8Bh8anA5_5xYej70Ob8tNc/s1600/SPX-500-PATTERN-25-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgDTrmpdzCUyS0Id-Jet0XJ8oPTTEbhealyKMrHIQR8eYUkniNSbUurWgmUGgBKXnqknOWfGz0rZyQfHIhlBHq74XU-n88u0lKIdv4yk2LypIzvnnY-Um6tz8Bh8anA5_5xYej70Ob8tNc/s320/SPX-500-PATTERN-25-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">SPX-500</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAfYiataFZrKJqP67RRPdsGY36K7H1yHVkQrmFu5m24J8EhZ6MMtYA93a93AG779DSRmyjE-rGH-N4iBGncSWvyLEILWQW79gKLTZEktM-VfN0zcAbqLIegpLgnKTYOUi4v8-TBDU-LlmU/s1600/UST-10Y-FIBB-25-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiAfYiataFZrKJqP67RRPdsGY36K7H1yHVkQrmFu5m24J8EhZ6MMtYA93a93AG779DSRmyjE-rGH-N4iBGncSWvyLEILWQW79gKLTZEktM-VfN0zcAbqLIegpLgnKTYOUi4v8-TBDU-LlmU/s320/UST-10Y-FIBB-25-10-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">UST-10Y</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-31403292971507336982018-10-22T13:30:00.001+05:302018-10-22T13:30:30.711+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 22/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market opened in deep green Monday on
positive China cues amid personal tax cut and some other stimulus hopes there
to fight Trump tariffs, terror. But the
Indian market soon succumbed to around 10278 from the opening high of 10405 on
another wave of NBFC/HFC default crisis despite lower oil and lower USDINR. The
market is currently trading around 10320, edged up almost +0.16% as the European
market is poised to trade in green on China optimism and less than the severe downgrade of Italy by Moody’s late
Friday.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">As per market rumors,
there is a serious crisis brewing in the Indian market as DHFL & India
Bulls are apparently not being able to fulfill their mortgage customers
disbursements. And there is a talk in the market
that BNP cannot sell any paper of DHFL, India Bulls that they hold. The DHFL
may in a serious trouble as they have to repay/roll-over around Rs.13.50B by
December, whereas they have only Rs.3B in their books (cash/cash equivalent).
In either way, even if an HFC like DHFL
is able to roll-over their sky-high debt, it will be at a much higher cost
(yield). Meanwhile, the DHFL is trying to sell their mortgage book that is Rs.15B.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian money/CP market is now quite tight. The
MMFS FIXED deposit rate has jumped from 8% to 8.7% in 1 month, although the 10Y
Indian bond yield dropped to around 7.90% from the recent high of 8.23% after a
dovish hold by the RBI and some fall in
global bond yields.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">As per reports, various “high-profile” Indian
NBFC/HFC companies are now in deep financial trouble amid an environment of
higher borrowing costs and lower demand. Max India is in trouble and there is a
talk in the market that HDFC is asking
for more documentation for disbursing mortgage disbursements which are already sanctioned
as mortgages loans were given at 8.35% and borrowing costs have shot up after
that.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">There is another report that Piramal is also
trying to sell their pharma business to create liquidity. The main problem may
be subdued realm estate activities and much higher supply than the actual core
demand. Edelweiss, DHFL, Piramal, India Bulls have totally lent about Rs 1.5T
to real estate and a lot is now stand stilled as real sales never happened amid
India’s own sub-prime woes. The NCLT cases have jumped 25% in the last 1 month as more Developers are going to
get into trouble.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The NBFC/HFC “doomsday” stories are adding salt to India’s macro woes and the
market is already in the bear territory (sustaining below 200 DEMA of around
10800). The valuations are still stretched amid mixed Q3 earnings reports. Higher borrowing costs are
bound to affect highly leveraged Indian corporates barring few blue-chip exceptions that are almost debt free.
The NBFC/HFC and also the infra woes clearly suggesting that all are not good
for the Indian economy despite the government’s
huge infra spending to stimulate growth. There are some flaws in the overall
economic model and project viability itself. The government, on its part, is trying to contain the contagion
effect, but it may be too large and too
widespread.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 10:30</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10315 (+12; +0.12%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 26285 (+210; +0.85%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.30 (-0.07.; -0.10%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2774 (+7; +0.24%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10260/10230*-10180/10140*-10100/10030-9950/9850-9700/9650<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10395/10415*-10460/10490*-10525/10600-10655/10675-10725/10780<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950-10850<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25200/25050*-24900/24700*-24400/24250-24100/24000-23800/23600<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25550*/25850-26075*/26200-26350/26425-26575/26775-26975/27200<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600-26075<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.55*/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-75.00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2770/2745-2710/2690-2675/2650-2620/2600-2585/2565<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2805*/2820-2840*/2875-2890/2905-2925/2945-2960/2990<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2690-2890</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10415 for a
further rally to 10460/10490-10525/10600-10655/10675-10725/10780 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10395-10355 NF may fall to 10260/10230-10180/10140-10100/10030-9950/9850
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25550
for a further rally to 25850/26075-26200/26350-26425/26575-26775/26975 in the
near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25500 BNF may fall to 25200/25050-24900/24700-24400/24250-24100/24000
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.45 for a further
rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.55/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.55/72.25-72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically,
<b>SPX-500</b> has to sustain over 2805 for a further rally to
2820/2840-2875/2890 and 2905/2925-2945/2960 in the near term (under bullish
case scenario).</span><b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2795-2770,
SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2745/2710-2690/2675 and 2650-2620</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10350; Q4FY18 EPS: 402; Q4FY18 PE: 25.75;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25450; Q4FY18 EPS: 519; Q4FY18 PE:
49.04; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">GBPUSD</span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">WTI-CRUDE OIL</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-53273291642027395602018-10-17T12:24:00.000+05:302018-10-17T12:24:11.459+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 17/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market opened with a bang Wednesday on
positive global cues amid an overnight rally in Dow for over 550 points and
some fall in USDINR tracking broader weakness in US dollar index. The US market
soared Tuesday on earnings optimism, upbeat economic data and an ease of Saudi
tensions. The Indian market also jumped on Tuesday after lower core WPI and
trade deficit data coupled with a fall in its 10Y bond (GSEC) yield to 7.870%.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">But on Wednesday mid-session, the mood of the
Indian market changed suddenly after a rating agency (India rating) downgraded various
mutual fund (MF) schemes connected to IL&FS and placed to rating watch
negative. Meanwhile, Moody’s has also warned that the Indian IT industry is
facing challenges and it’s important for companies to maintain solid liquidity buffers to respond to changing business
conditions.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">India is also under stress on surging USD demand
for huge oil as-well-as increasing gold imports and may be thinking various
alternative payment systems in rupee or even a “barter” system with Iran (say
oil for rice). India may also go for the NRI bond issuance path to tide over
the crisis, although it may be temporary. The government is now clearly
panicking for the overall situation after downplaying it for months. Looking
ahead the trifecta of higher USD, higher oil and higher bond yields could be a
major crisis for the Indian economy and the market.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 10:30</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10620 (+30; +0.26%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25675 (+50; +0.20%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.55 (-0.07.; -0.08%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2816 (-2; -0.05%)<o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10600/10570*-10535/10500*-10450/10400-10370/10325-10275/10190<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10655/10675*-10725/10780*-10815/10845-10895/10915-10955/11015<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950-10845<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25550*/25400-25250/25000-24650*/24400-24250/24100-24000/23800<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">26075*/26200-26350/26425-26575/26775-26975/27200-27300/27750<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600-26075<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.55*/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-75.00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2820*/2800-2770*/2745-2710/2690-2675/2650-2620/2600<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2840*/2875-2890*/2905-2925/2945-2960/2990-3010/3035<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2690-2890</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10675 for a
further rally to 10725/10780-10815/10845-10895/10915-10955/11015 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10655 NF may fall to 10600/10570-10535/10500-10450/10400-10370/10325
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 26075
for a further rally to 26200/26350-26425/26575-26775/26975-27200/27300</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 26025-25975 BNF may fall to 25550/25400-25250/25000-24650/24400-24250/24100
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.45 for a further
rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.55/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.55/72.25-72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically,
<b>SPX-500</b> has to sustain over 2840 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2875/2890-2905/2925-2945/2960-2990/3010</span><span style="color: #330033; font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"> in the near term (under bullish case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2830-2820,
SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2800/2770-2745/2710-2690/2675-2650/2620</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10600; Q4FY18 EPS: 402; Q4FY18 PE: 26.37;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25600; Q4FY18 EPS: 519; Q4FY18 PE:
49.33; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS:</a> </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME:</a> </span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6jys3l45shAP06g-yJ6xEhvD3ZCFw80W6pEELBec2gYjWQ-bOowNHCQIEDpuDGRzjdrgtbP8yJuyevuhDFdIbqVHel40tUBCf_W0kqyq0WnFVN6lPJy-182CKeMmMpnR0exxJLqbuwBsY/s1600/SGX-NF-PATTERN-16-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi6jys3l45shAP06g-yJ6xEhvD3ZCFw80W6pEELBec2gYjWQ-bOowNHCQIEDpuDGRzjdrgtbP8yJuyevuhDFdIbqVHel40tUBCf_W0kqyq0WnFVN6lPJy-182CKeMmMpnR0exxJLqbuwBsY/s320/SGX-NF-PATTERN-16-10-2018.png" width="320" /></a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT </span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi3QItEOytG_WqACp7OiFbWoQ5GpNT3RiR90FFbIvyMBaqWn5OpHyvbHTqNW4H0SK9_vX7kl2anuEwlWwg6Gy6VISKqhbP1ZpOhU5YpZJi1XZwkaAOjCAYsuSpW42RfTdNC_ZVpBJVm8Y4/s1600/BNF-PATTERN-16-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi3QItEOytG_WqACp7OiFbWoQ5GpNT3RiR90FFbIvyMBaqWn5OpHyvbHTqNW4H0SK9_vX7kl2anuEwlWwg6Gy6VISKqhbP1ZpOhU5YpZJi1XZwkaAOjCAYsuSpW42RfTdNC_ZVpBJVm8Y4/s320/BNF-PATTERN-16-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyhq4peo7Qt6iztNnu-DjqBUNxneshopJv0fF9e0GKxLHyda-5K7fAyNqdshePT8PP_eqgbDpXVfsQvrmAhb2S3y1gpSfywJYtlk2BK156xDvYjOMBxhaTpvAjG8X8MBjwRGJhl99x4p_N/s1600/SPX-500-PATTERN-16-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyhq4peo7Qt6iztNnu-DjqBUNxneshopJv0fF9e0GKxLHyda-5K7fAyNqdshePT8PP_eqgbDpXVfsQvrmAhb2S3y1gpSfywJYtlk2BK156xDvYjOMBxhaTpvAjG8X8MBjwRGJhl99x4p_N/s320/SPX-500-PATTERN-16-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">SPX-500</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiidQojWYpHhxNd1rwqtYW7Eh_NFRdOjDKApMu-oZ1muoR5apZ26imE8I6JmBnhzX3CC-IQLBzXZZnXdxMWzwKqdoUDRXILaKhHrUSe5knd1sOfSMtkRLGENNS1aiubeDr24Pw9kV5bZ-v_/s1600/USDX-FIBB-16-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiidQojWYpHhxNd1rwqtYW7Eh_NFRdOjDKApMu-oZ1muoR5apZ26imE8I6JmBnhzX3CC-IQLBzXZZnXdxMWzwKqdoUDRXILaKhHrUSe5knd1sOfSMtkRLGENNS1aiubeDr24Pw9kV5bZ-v_/s320/USDX-FIBB-16-10-2018.png" width="320" /></a></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">US DOLLAR INDEX (DXY)</span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgldPw8fxSOHeqH9JUffLRFn-miDsW1QNx6dv8u9msDb9iXlvA_XwnKRhUYttMfCrmDGF9Iud1sSp21LUV1Q0ExCg8ZThMRIZGMiPO2mrM3utcf-BfIQ5vfHcAEsb5ffofAFeymHYksTGGc/s1600/UST-10Y-PATTERN-16-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgldPw8fxSOHeqH9JUffLRFn-miDsW1QNx6dv8u9msDb9iXlvA_XwnKRhUYttMfCrmDGF9Iud1sSp21LUV1Q0ExCg8ZThMRIZGMiPO2mrM3utcf-BfIQ5vfHcAEsb5ffofAFeymHYksTGGc/s320/UST-10Y-PATTERN-16-10-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">UST-10Y (RR)</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-2060357332451221302018-10-15T12:15:00.001+05:302018-10-15T12:15:10.575+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 15/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market is under stress Monday on the
rebound in USD and oil in line with global trends. Overall global cues are
subdued on renewed US-China “trade war” as-well-as “cold war” tensions. The 10Y
US bond yield is also ticked up. Oil surged on Saudi-US geopolitical tensions
amid the WaPo journalist “disappearance”
issue in the Saudi consulate in Turkey and subsequent warning by Trump for the
Saudi Kingdom.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market roared back last Friday on positive
global cues amid hopes of Trump-Xi meet and lower USDINR on reports of NRI
bonds issuance to tide over the present forex crisis. In September and October
(till date), Nifty corrected by almost 11% and is already in the bear market
zone technically as it’s sustaining well below the 200 DEMA zone of 10800,
although in market terms, if Nifty corrects 20% from the recent high of 10929;
i.e. below 8740, it could be termed as “official bear market”. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The main problems for the Indian market are now
higher USD, boiling oil/domestic fuel price, higher bond yields, higher current
account deficits, and fiscal deficits. The
combination of higher borrowing costs, cross currency headwinds, higher
imported inflation and worsening macros (ahead of the election/political
populism) will not bore well for the economy as-well-as corporate earnings, despite
higher USD would be good for the export savvy corporates (50% of Nifty earnings
are now coming from export). But Trump may also shift his focus on India “soon”
for high imported tariffs (“Tariffs King”), currency devaluation and import of
Iranian oil issues.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 10:00</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10435 (-50; -0.48%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25200 (-205; -80%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.97 (+0.27.; +0.36%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2762 (-6; -0.23%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10425/10400*-10370/10325*-10275/10190-10140/10095-10000/9950<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10520/10540*-10575/10605*-10635/10675-10740/10775-10815/10845<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 9950-10540<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25100*/24900-24800*/24650-24400/24200-24100/24000-23800/23600<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25475*/25525-25575*/25675-25750/25875-26050/26200-26350/26425<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman"; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";"> broad range: 23600-25575<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.55*/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35*-74.75*/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 73.00-75.00<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2745/2710*-2690*/2675-2650/2620-2600/2580-2550/2535<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2775/2790*-2815/2840*-2875/2890-2905/2925-2945/2960<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-no-proof: yes;">Near-term</span></b><b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"> broad range: 2690-2790</span></b><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10540 for a
further rally to 10575/10605-10635/10675-10740/10775-10815/10845 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10520 NF may fall to 10425/10400-10370/10325-10275/10190-10140/10095
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25475
for a further rally to 25525/25575-25675/25750-25875/26050-26200/26350</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25425-25300 BNF may fall to 25100/24900-24800/24650-24400/24200-24100/24000
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.45 for a further
rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.35-74.75/75.00-75.65/76.00-76.55/77.00 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 73.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.55/72.25-72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically,
<b>SPX-500</b> has to sustain over SPX-500 has to sustain over 2790 for a
further rally to 2815/2840-2875/2890-2905/2925-2945/2960 in the near term
(under bullish case scenario).</span><span style="font-family: "Verdana","sans-serif";"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2775,
SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2745/2715-2690/2675-2650/2620-2600/2580</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10400; Q4FY18 EPS: 402; Q4FY18 PE: 25.87;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25200; Q4FY18 EPS: 519; Q4FY18 PE: 48.55;
Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS</a>: </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
<div style="line-height: 150%; text-align: left;">
<span style="font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>: http://twitter.com/ASISIIFL</span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVCGoRX4uIZx0phHJS3ECiFo-Es5LXAa5MRJLPZ9PVakpvZejw9GYt5Ltv-mNVPH4_a4wkqKpnQqyni-fd928Pwubkv-QvhWjwqKUeDuPkk8gu1-iWSUGt-XTKU96Jchf30ufOnOxwsfaX/s1600/SGX-NF-PATTERN-12-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVCGoRX4uIZx0phHJS3ECiFo-Es5LXAa5MRJLPZ9PVakpvZejw9GYt5Ltv-mNVPH4_a4wkqKpnQqyni-fd928Pwubkv-QvhWjwqKUeDuPkk8gu1-iWSUGt-XTKU96Jchf30ufOnOxwsfaX/s320/SGX-NF-PATTERN-12-10-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGXzNGbVM8KGjwCpF-Cp7lLvttc_U4RYmvKWC4wu29435rWGWlz-_9Ha2dXUJqYVyU86UFi549w6RxYB-P95bvcQbP1K_JTo4MDwOX509BcpwZLXrnXdFfY8njV46N2Eiu38k0rOGLqzbb/s1600/BNF-PATTERN-12-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGXzNGbVM8KGjwCpF-Cp7lLvttc_U4RYmvKWC4wu29435rWGWlz-_9Ha2dXUJqYVyU86UFi549w6RxYB-P95bvcQbP1K_JTo4MDwOX509BcpwZLXrnXdFfY8njV46N2Eiu38k0rOGLqzbb/s320/BNF-PATTERN-12-10-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<span style="font-family: Verdana, sans-serif;">SPX-500</span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">CRUDE OIL-WTI</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-20453739073903414202018-10-11T11:43:00.002+05:302018-10-11T11:44:53.781+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 11/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market plunged Thursday on terrible
global cues after an overnight plunged of Dow future by over 800 points, followed
by another 350 points in the morning Asian session amid higher bond yields and
as Fed “gone crazy” and “going loco” in Trump’s version as he doubled down on the
Fed for its hawkish monetary policy and “gradual”
rate hikes.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">In brief, Dow future plunged over 1150 points from
Wednesday on the concern of higher borrowing costs amid surging bond yields and
stress on techs. The benchmark 10Y US bond yield-scaled
a multi-year high of 3.244% and moreover sustaining above the level of 3.15%,
which is not a good sign for the US corporate bottom line and the overall
economy.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The US bond yield moved higher on Wednesday after
a brief respite Tuesday, apparently on comments from Fed’s Williams. The NY Fed
President Williams said "further gradual increases in interest rates"
are the best way to foster a sustained expansion and also reduce risk-taking in
financial markets. The US bonds are also under stress on a deluge of US debts
supplies amid Wednesday’s UST auctions of 10Y for $23B and 3Y for $36B. <o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On Wednesday, the US bond yield was also supported
by the US core PPI for September, which jumped to +0.2% from prior slump of
-0.1%, right on expectations sequentially.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The US bonds are slumping basically due to lack of
sufficient foreign institutional interest (Japan/EU) for high and unviable
hedging costs (negative return and high-cost
year-end FWD contract rollover issue). To simply put it, supplies of
US treasuries in the market are now higher than demand and thus US Treasuries
are plunging, causing higher bond yields. China, Japan and also Russia may also
sell their US Treasury holdings in retaliation to Trump tantrum.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Historically, the spread between the US 10Y bond
yield and the Fed rate is around 1% and
thus at Fed Fund rate of +2.25%, the present 10Y yield is hovering around
+3.25% and aiming for +3.50% in the coming days as Fed is poised to hike
another +0.25% in Dec’18 to bring the US nominal rate at +2.50%.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">In that scenario, the benchmark Indian 10Y bond
yields should hover around 8.50% (spread around 500 bps). And RBI has to hike by
another 1% in rest of FY-19 and FY-20 to 7.50% to maintain the spread of 1%
between 10Y GSEC yield and Indian repo rate, everything being equal.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The US 10Y bond yield dropped around 3.15% early Thursday
after an apparent institutional support (Fed’s plunge protection team) in the
last hour of trading Wednesday. But Dow future is not so much convinced as the
US 10Y bond yield is targeting 3.50-3.55% zone in the coming days unless Fed abandons its Dec’18 rate hike
plan and de-board the “loco” as per Trump’s “advise”.<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market got a brief respite on Wednesday
as SBI is planning to bail out
cash-strapped NBFCs by lending them Rs.45B fresh. But all these have little bearing on India’s surging bond
yield above 8% and plunging currency, now almost at 75 level against the US
dollar. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">As elections
are coming, various state governments as-well-as the Federal government is busy with political populism rather than
fiscal discipline, which would be negative for India’s combined fiscal deficit, now above 6.50%. If we consider unpaid food, oil, and some other subsidies,
India’s Federal fiscal deficit would be much more than the 3.5% figure. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But the market is getting some support on Thursday
as oil slips on general “risk-off” sentiment, subdued demand forecast by IEA
and surprised API inventory buildup.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:45</span></b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10200 (-270; -2.53%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 24700 (-600; -2.39%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
74.53 (+0.15.; +0.22%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2758 (-23; -0.83%)<o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10140/10095*-10000/9950*-9850/9700-9650/9600-9550/9450<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10275/10335*-10390/10425*-10485/10515-10560/10580-10640/10675<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">24650/24400*-24200*/24100-24000/23900-23800/23650-23600/23300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">24800/25050*-25200*/25300-25400/25575-25675/25750-25875/26050<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">73.45/73.00*-72.75/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2745/2715*-2690*/2675-2650/2620-2600/2580-2550/2535<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2775/2790*-2815/2840*-2875/2890-2905/2925-2945/2960<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10275 for a
further rally to 10335/10390-10425/10485-10515/10560-10580/10640 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 10255-10190 NF may fall to 10140/10095-10000/9950-9850/9700-9650/9600
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 24800
for a further rally to 25050/25200-25300/25400-25575/25675-25750/25875</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 24750 BNF may fall to 24650/24400-24200/24100-24000/23900-23800/23650
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 73.00-73.45 for a
further rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 72.75-72.25, USDINR-I may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically,
<b>SPX-500</b> has to sustain over SPX-500 has to sustain over 2790 for a
further rally to 2815/2840*-2875/2890-2905/2925-2945/2960 in the near term
(under bullish case scenario).</span><span style="font-family: "verdana" , "sans-serif";"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><br /></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 2775,
SPX-500 may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2745/2715-2690*/2675-2650/2620-2600/2580</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bear case
scenario).<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10200; Q4FY18 EPS: 402; Q4FY18 PE: 25.37;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 24600; Q4FY18 EPS: 519; Q4FY18 PE:
47.40; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
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<div style="line-height: 150%; text-align: justify;">
<span style="text-align: left;"><span style="font-family: "verdana" , sans-serif;"><br /></span></span></div>
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<span style="font-family: "verdana" , sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>: http://twitter.com/ASISIIFL</span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQd5S1-9B18VxnhpS06LUtTE4zHNqVBMTRGMpOMyfVXK-rhCtAmuQO4h7G77lJdrp9U7BUBiLpS7rYgmHjY6mHoxDmekxSYXS1WJcERo4C56K3h6Q7-GqBiE_H_QQz_TtdD8nrTuebvSEo/s1600/SGX-NF-PATTERN-10-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiQd5S1-9B18VxnhpS06LUtTE4zHNqVBMTRGMpOMyfVXK-rhCtAmuQO4h7G77lJdrp9U7BUBiLpS7rYgmHjY6mHoxDmekxSYXS1WJcERo4C56K3h6Q7-GqBiE_H_QQz_TtdD8nrTuebvSEo/s320/SGX-NF-PATTERN-10-10-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , sans-serif;">NIFTY FUT</span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjErk5phEWdEl6XIo1Dryf6BHSG0OEaczpJ7_JHI2LmTsQGRpi6nqci7VHhOaSNS43c3m909tWdHZhOjy3fw_GjihzhGlKMjTAtbbuMrOauDxIfUxgZ1BAADzIgQ4PMBlSE5hkDtj-cnYch/s1600/BNF-PATTERN-10-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjErk5phEWdEl6XIo1Dryf6BHSG0OEaczpJ7_JHI2LmTsQGRpi6nqci7VHhOaSNS43c3m909tWdHZhOjy3fw_GjihzhGlKMjTAtbbuMrOauDxIfUxgZ1BAADzIgQ4PMBlSE5hkDtj-cnYch/s320/BNF-PATTERN-10-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUhhSbuIt3CwwcBUN9aQV7RI-6zT0P-4ZK-n5O0ZtkcMzHdk3w182K8D3tCpaZ-JpgSn4cvKOey7XMk6sO7mskrs4_hXprdKePg1hcj7mPEHsuYVaHKsPSM5uYTGFZia3NWr6EHpC1oYPf/s1600/SPX-500-PATTERN-10-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUhhSbuIt3CwwcBUN9aQV7RI-6zT0P-4ZK-n5O0ZtkcMzHdk3w182K8D3tCpaZ-JpgSn4cvKOey7XMk6sO7mskrs4_hXprdKePg1hcj7mPEHsuYVaHKsPSM5uYTGFZia3NWr6EHpC1oYPf/s320/SPX-500-PATTERN-10-10-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500</span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-53703911328059649942018-10-09T14:49:00.003+05:302018-10-09T14:49:57.405+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 09/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market under stress Tuesday on the old story of the trifecta of higher USD, higher bond yield, higher oil coupled with a possible revenue shortfall on account of GST, disinvestment, and lower dividend from OMC. Although the Indian DEA denied report of lower disinvestment target and dividend from OMC as pure “fabricated”, the market may be not so much confidence.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">From the version of the RBI and also the government, it now seems that they have no problem if USDINR goes past to 75 levels for 80 in the short term, considering China’s ongoing currency devaluation. The USDCNH is currently trading around 6.90 and China may be targeting 7.00 level; i.e. almost 12% devaluation since June low of 6.25 “to fight” with Trump tax of 10%. Similarly, India may be also targeting 12% devaluation level of around 77 from 69 level a few months ago (around June’18). India could be also a target of Trump trade war as far its IT and pharma exports are concerned.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The difference is that China is an export-oriented country, while India is largely an import-oriented economy. Looking ahead, the forthcoming festival fuel demand would also keep the CAD/BOP elevated along with a shortfall in revenue. Thus it may be a challenge for the government to achieve a 3.3% fiscal deficit target without sacrificing expenses (government infra capex). With around 10-months of import cover with the existing FX reserve, the situation may turn critical if FPI’s outflow accelerates amid ongoing rupee carnage.<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 13:25</span></b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF: 10360 (-20; -0.18%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty-BNF: 24682 (-30; -0.12%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I: 74.42 (+0.17.; +0.22%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2887 (-6; -0.22%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10275/10190*-10160/10105-10000/9950*-9850/9700-9650/9600<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">10425*/10485-10540/10600-10660/10725*-10775/10790-10835/10895<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">24650/24400*-24200*/24100-24000/23900-23800/23650-23600/23300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">24800/25050*-25200*/25300-25400/25575-25675/25750-25875/26050<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">73.45/73.00*-72.75/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2905/2880-2865/2845-2835/2810-2790/2780-2765/2735<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2925/2935-2945/2960-2990/3010-3035/3070/3095/3155<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10425 for a further rally to 10485/10540-10600/10660-10725/10775-10790/10835 in the near term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 10405 NF may fall to 10275/10190-10160/10105-10000/9950-9850/9700 in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 24800 for a further rally to 25050/25200-25300/25400-25575/25675-25750/25875</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 24750 BNF may fall to 24650/24400-24200/24100-24000/23900-23800/23650 in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 73.00-73.45 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 72.75-72.25, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.00/71.50-71.25/70.95-70.70/70.35 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain over 2920 for a further rally to 2935/2945-2950/2960 and only sustaining above 2960, it could further rally to 2990/3010-3035/3070-3095/3155 in the near term (under bullish case scenario).</span><span style="font-family: "Verdana","sans-serif";"><o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2915-2905, SPX-500 may fall to 2880/2860 and only sustain below 2860, it could further fall to 2840/2810-2795/2765 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10300; Q4FY18 EPS: 402; Q4FY18 PE: 25.62; Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
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<br /></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 24600; Q4FY18 EPS: 519; Q4FY18 PE: 47.40; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000 (assuming NPA recovery).<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS</a>: </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>: </span></span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkEHt4_sBFH3cf_8Q-U8DZcK_qu4YKZNtDrtOdzGugaU0eQZlEZgXJp8hdxqVuoAvL6HPzpojhW5ABiNc9kiOKqoKxAs0GCeyuxyPw-DwLEKdmOhOSUcGFpYA006Xc2A_tgtEonEGuRC3i/s1600/SGX-NF-PATTERN-08-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkEHt4_sBFH3cf_8Q-U8DZcK_qu4YKZNtDrtOdzGugaU0eQZlEZgXJp8hdxqVuoAvL6HPzpojhW5ABiNc9kiOKqoKxAs0GCeyuxyPw-DwLEKdmOhOSUcGFpYA006Xc2A_tgtEonEGuRC3i/s320/SGX-NF-PATTERN-08-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggn9US2u9KzHSwOrR2jlrl3BBouqJpD1HTo9u8E4u-W-2BIrNM2y2a47lW36ZDD-g-6NG_PdLu4YZVw2OQ8Uq3noN2242CmgABZLyuIXNnes7ebU-3OC2Ia0DhNeW4f-jbNbXQpl7aob_V/s1600/BNF-PATTERN-08-10-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggn9US2u9KzHSwOrR2jlrl3BBouqJpD1HTo9u8E4u-W-2BIrNM2y2a47lW36ZDD-g-6NG_PdLu4YZVw2OQ8Uq3noN2242CmgABZLyuIXNnes7ebU-3OC2Ia0DhNeW4f-jbNbXQpl7aob_V/s320/BNF-PATTERN-08-10-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpdCgXxTLvQ7I1s_spu5OUf_FbGyfS81Dbs-S8hhy6HENVgTj5oFzSeEaRVuZX0pKPfP_z1j6em1yFeBX-EEUW6Ba9a9A2ZwwjTIBLiYD-h9hbgJ1h5WKk6SNOEF2VQv6GaY__c89PceH5/s1600/USDX-PATTERN-08-08-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpdCgXxTLvQ7I1s_spu5OUf_FbGyfS81Dbs-S8hhy6HENVgTj5oFzSeEaRVuZX0pKPfP_z1j6em1yFeBX-EEUW6Ba9a9A2ZwwjTIBLiYD-h9hbgJ1h5WKk6SNOEF2VQv6GaY__c89PceH5/s320/USDX-PATTERN-08-08-2018.png" width="320" /></a></div>
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<div style="line-height: 150%; text-align: center;">
<span style="font-family: Verdana, sans-serif;">US DOLLAR INDEX-USDX</span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-75947449610873061672018-10-05T12:13:00.001+05:302018-10-05T12:22:59.366+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 05/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market tumbled Friday on negative
global cues amid higher global bond yields, higher borrowing costs and concern
of US-China geopolitical tensions. The Indian market is also under stress on higher
USDINR and higher Brent oil coupled with political populism by the government to
suddenly reduce Rs.1.50 of fuel cess and Rs.1.00 by OMC (total Rs.2.50) ahead
of the vital state elections after months of denial.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian government has previously imposed
around Rs.10.00 in total cess to fund fiscal deficit and infra/road capex in
addition to other central duties and VAT by states. The total fuel tax
component is more than 50% against global standard/average of 25%. The Rs.1.00
deduction in cess will cost the revenue by around Rs.10B, which is around
0.003% of the 3.3% fiscal deficit target. Although
average GST collection is now around Rs.92B per month, it's consistently below the target of Rs.100B.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The market is expecting that the RBI will raise the
rate again today (5<sup>th</sup> Sep) by
0.25% to hike the Indian repo rate to 6.75% with a hawkish tone and may hike
again in Dec’18 to save the currency (rupee), everything being equal. The
Indian 10Y bond yield is currently trading around 8.15% and is sustaining above
8%. The historical spread between the 10Y GSEC and the RBI repo rate is around
1% and thus either RBI has to hike rate to 7% at least or the Indian 10Y GSEC (bond)
yield should fall and sustain below 7.50%, which is now very difficult,
considering the 10Y US bond yield sustaining above 3.15-3.00%.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The historical spread between Indian 10Y and the
US 10Y is around 5.5% and thus the Indian bond yield would stay around
8.50-9.00% in the coming days. The RBI/government policy will ensure this;
otherwise who will invest in the “India growth story” and “Modinomics”?<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The US bond yield is soaring primarily on USD
shortage (as a funding currency), lack of institutional foreign (Japan/EU)
buying of US Treasuries due to high and
unviable hedging costs (negative return and high-cost
year-end FWD contract rollover issue). <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The US bond yield has also jumped on upbeat US
economic data (6-months high ADP job and 21-year high ISM non-manufacturing PMI
data) released Wednesday and a chorus of hawkish Fed talks for the last few
days, mainly focusing on “neutral” rate as Fed is approaching it fast and bolstered
the case for a faster pace of Fed rate hikes. The Fed Chair Powell said the Fed
could eventually raise the Fed funds rate past the neutral level.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Historically, Indian rupee always tumbled in the
general election year and recovered slightly after the election, if the favorable party wins. This may be an indication
of Indian black money stashed abroad
getting round trip to fund the unofficial expenses of election and political
funding. This year it’s no difference, but the EM currency tantrum and boiling
oil have made the situation worse and the
government is now basically panicking after months of downplaying it despite
various red signals. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian rupee is steadily depreciating since
the last one year mainly for the dual QT by Fed and issuance of excessive US
debts (Treasuries) to fund “Trumponomics”, which is creating a USD shortage in
the system, especially in the high CAD (Oil) related South-East Asian
countries. Also, muted FDI/FPI and NRI in-flow is keeping the USDINR elevated.
RBI and the Indian government is now basically helpless until FPI/FDI inflow
resumed in a significant way.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The RBI may be in a double whammy now as if it
hikes with a hawkish tone further to save rupee, the stock market may react adversely further and the resultant FPI
out-flow will also make rupee weaker. If RBI does not hike or even hike with a
dovish tone, the rupee will fall further
and FIIs will also rush more for the exit,
resulting in a further stock market
crash.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:35</span></b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10550 (-81; -0.77%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 24844 (-10; -0.02%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.73 (-0.20.; -0.16%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2911 (+4; +0.15%)<o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10515*/10450-10400/10345-10195/10165-10105/10000-9950/9870<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10640*/10660-10700/10750-10790/10835-10895/10935-10980/11025<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">24650*/24400-24200/24100-24000/23900-23800/23650-23600/23300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">25050*/25200-25300/25400-25575/25675-25750/25875-26050/26150<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">73.45/73.00*-72.75/72.25-72.00/71.50-71.25/70.95-70.70/70.35<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2905/2880-2865/2845-2835/2810-2790/2780-2765/2735<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2925/2935-2945/2960-2990/3010-3035/3070/3095/3155<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 10660 for a
further rally to 10700/10750-10790/10835-10895/10935-10980/11025 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 10640-10600 NF may fall to 10515/10450-10400/10345-10195/10165-10105/10000-9950/9870
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25050-25200
for a further rally to 25300/25400-25575/25675-25750/25875-26050/26150</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 25000 BNF may fall to 24650/24400-24200/24100-24000/23900-23800/23650-23600/23300
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 73.00-73.45 for a
further rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">74.05/74.25-74.50/75.00-75.65/76.00-76.55/77.00-77.50/79.70
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 72.75-72.25, USDINR-I may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.00/71.50-71.25/70.95-70.70/70.35
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain
over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bullish case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 2945-2935/2915, SPX-500 may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2905/2880-2865/2845-2835/2810-2790/2780-2765/2735</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
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<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 10500; Q4FY18 EPS: 402; Q4FY18 PE: 26.12;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 24800; Q4FY18 EPS: 519; Q4FY18 PE:
47.78; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000
(assuming NPA recovery).<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">NIFTY FUT</span></div>
<br />
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">BANK NIFTY FUT</span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: center;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">US DOLLAR INDEX (DXY)</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-1666920528303657962018-10-03T13:32:00.001+05:302018-10-03T13:46:33.287+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 03/10/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian market is under renewed pressure
Wednesday on record high USDINR and boiling oil despite government’s swift
intervention late Monday through the NCLT to take control of the IL&FS
management for public interest and to prevent further contagion in the whole
financial sector. The Indian government has sacked the entire IL&FS board
and appointed a new board with industry leaders and persons of impeccable global credibility in a Satyam like
operation. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The government would not infuse any fund in the
IL&FS to directly bail out the
company due to political pressure but has urged financial institutions like
SBI, LIC. HDFC to infuse funds either as loans or equity to save IL&FS,
which have almost INR 91B of debt, equivalent to India’s one month average GST
collection. In short, IL&FS is now “too
big to fall” for the Indian government and thus the government is committed for
the public interest and financial market to not let the company collapse and
default on its obligation.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But at the end of the day, IL&FS has also owed
a huge amount of Rs.91B to various banks & financial institutions and also
mutual funds. Thus banks have to take a huge haircut for its exposure to
IL&FS at some point and all these are turning into an intense political war
ahead of the general election.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian government is also under pressure both
politically and economically for plunging rupee (INR) and surging oil. RBI is
also set to hike another 0.25% on 5<sup>th</sup> Oct to save rupee, everything
being equal. USDINR-I made a record high
of 73.6550 Wednesday amid higher Brent oil and US dollar index, thanks to a
plunge in EUR as a result of Italian budget tremors. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But, USDINR-I is now trading around 73.30 after a
report that RBI/government may introduce a separate FX (USD) swap window for
the Indian state oil refiners and marketing companies to ease pressure on INR
(on expected line). <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Also, ease of Italian budget tensions is helping the Indian rupee on lower US dollar
index to some extent. As per reports, Italy may dials back some of its budget proposals and now may propose 2.4% budget deficit
only for 2019, and thereafter it will decline gradually by 0.2% to 2.2% in 2020
and another 0.2% the year after to 2.00% (2021 onwards).<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">For India, the combination of higher USDINR,
higher oil, higher bond yields (8.06% currently), higher current account deficit
all pointing towards higher borrowing costs, which would be not good for the
overall economy, corporate earnings and also political stability. India’s
budget/fiscal deficit is around 3.5% at the federal government level, while the
combined state and the federal fiscal
deficit is almost around 6%, which is set to scale 6.5% by FY-19. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The Indian current account deficit is also set to
scale 2.7% by FY-19 from 2.5%. All these are affecting India’s BOP (balance of
payment), and dragging the currency (rupee), which may touch 75-80 levels by
FY-19, combined with Trump trade war, higher US dollar index and USD shortage
(as a funding currency) for Fed’s dual QT and issuance of a deluge of debts (US
treasuries) to fund “Trumponomics”.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Trump may be also now eyeing India actively for
its next trade war candidate and could target India’s IT and pharma exports/H1B
visa abuse issues. As per Trump, </span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">India
called him asking to start trade negotiations. <b>Trump also termed India as “tariff king”</b> and said that India wants
to “negotiate” with the US in order to “satisfy” him. Trump may also “punish” India if it goes with Iran oil buying despite
Trump sanctions.<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 11:35<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
10950 (-112; -1.00%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25340 (-165; -0.65%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
73.32 (+0.18; +0.25%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2932 (+4; +0.14%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10900/10880*-10820/10800*-10780/10750-10700/10640-10550/10515<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">10985/11025*-11065/11105*-11125/11145-11195/11215-11260/11300<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">25400/25200*-25000/24900*-24650/24400-24100/24000-23800/23650<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">25575*/25675-25750/25875*-26050/26150-26250/26350-26575/26700<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.30/72.00*-71.50/71.25*-70.95/70.70-70.50/69.95-69.60/69.15<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.95/73.05*-73.35*/73.75-74.25/74.50-75.00/75.65-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2915*/2905-2885/2860-2840/2815-2790/2750<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2945*/2960-2990/3010-3035/3070-3095/3155<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11025 for a
further rally to 11065/11105-11125/11145-11195/11215-11260/11300 in the near
term (under bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 11005-10985 NF may fall to 10900/10880-10820/10800-10780/10750-10700/10640
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25575
for a further rally to 25675/25750-25875/26050-26150/26250</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 25525 BNF may fall to 25400/25200-25000/24900-24650/24400
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 72.30 for a further
rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.95/73.05-73.35/73.75-74.25/74.50-75.00/75.65 </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 72.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">71.50/71.25-70.95/70.70-70.50/69.95-69.60/69.15
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain
over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bullish case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 2945-2935,
SPX-500 may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2915/2905-2885/2860-2840/2815</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 11000; Q4FY18 EPS: 402; Q4FY18 PE: 27.36;
Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<br />
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25200; Q4FY18 EPS: 519; Q4FY18 PE:
48.55; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
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NIFTY FUT</div>
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<span style="font-family: "verdana" , sans-serif;">BANK NIFTY FUT</span></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">BRENT OIL</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-23137410229855927392018-09-28T11:37:00.003+05:302018-09-28T11:37:42.463+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 28/09/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market is under renewed stress Friday on lingering worries about the IL&FS credit crisis and its contagion effect on the overall financial and corporate bond market. There was a report that SEBI has asked MF houses not to roll over their current exposure to Indiabulls Housing Finance, DHFL. But later SEBI has officially denied any such advisory. Meanwhile serial defaults by the IL&FS continue and all these creating like a panic situation in the market despite RBI/government effort to boost up the market sentiment by a number of liquidity enhancement measures (LCR/OMO/ talk of special MF liquidity window).<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On Thursday, the Indian market slips further after imposing additional import duties on several consumer goods and electronic items (to stem ballooning trade/current account deficit), coupled with higher oil, higher USD and ongoing liquidity and NPA crisis in the NBFC space (Indian version of shadow banking and sub-prime lending); big private banks also dragged on growing concern about “hidden NPA”. The market is now also concerned about India’s “sub-prime” NPA (retails/MSMEs) and housing loans apart from the huge corporate NPAs.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The imposition of additional import tariffs on several consumers, electronic items as-well-as industrial goods may cause higher inflation and subdued consumer spending. Airlines were also under pressure after the government hiked import duties on ATF.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The market is now expecting another 0.25% rate hike by the RBI on 5<sup>th</sup> October (policy date) to bring the Indian rate at 6.75% to stem the currency (INR) fall. The Indian 10Y bond yield is now hovering above 8% and if it sustains above 8% for next few months, RBI may also hike by another 0.25% to 7.00% by Dec’18 or by Feb’19. Historically, the spread between Indian 10Y bond and the RBI repo rate is around 1% and thus either the 10Y bond yield has to fall below 7.50% or the RBI has to hike to 7%. The 2<sup>nd</sup> probability (RBI hike) is higher.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The current spread between the Indian 2Y bond yield (7.996%) and 10Y bond yield (8.042%) is around 5 bps. A few days ago, during the corporate bond market panic days, 2Y yield made a high of 8.395%, whereas 10Y jumped to 8.231% and the spread was at -16 bps. All these are indicating the Indian version of bond yield inversion/flattening and an imminent slowdown or “correction” of the “hot” economy down the next 2-3 years.<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:15<o:p></o:p></span></b></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF: 11100 (+70; +0.63%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty-BNF: 25415 (+216; +0.86%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I: 72.88 (+0.00; +0.00%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2922 (+2; +0.08%)<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11080/11000-10970/10940*-10910*/10860-10810/10780-10750/10700<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11105/11135*-11195*/11215-11240/11295-11315/11345-11385/11415<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25400/25200-25000/24900*-24650*/24400-24100/24000-23800/23650<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25575*/25675-25750/25850-26050*/26150-26250/26350-26575/26700<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.30/72.00*-71.50/71.25*-70.95/70.70-70.50/69.95-69.60/69.15<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.95/73.05*-73.35*/73.75-74.25/74.50-75.00/75.65-77.50/79.70<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915*/2905-2885/2860-2840/2815-2790/2750<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2945*/2960-2990/3010-3035/3070-3095/3155<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11155 for a further rally to 11195/11215-11240/11295-11315/11345 in the near term (under bullish case scenario). <o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 11135-11105 NF may fall to 11080/11000-10970/10940-10910/10860-10810/10780 in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25575 for a further rally to 25675/25750-25850/26050-26150/26250</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25525-25400 BNF may fall to 25200/25000-24900/24650-24400/24100-24000/23800 in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 72.30 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.95/73.05-73.35/73.75-74.25/74.50-75.00/75.65 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 72.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.50/71.25-70.95/70.70-70.50/69.95-69.60/69.15 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bullish case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2945-2935, SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915/2905-2885/2860-2840/2815</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case scenario).<o:p></o:p></span></div>
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<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Valuation metrics:<o:p></o:p></span></b></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-50: 11000; Q4FY18 EPS: 402; Q4FY18 PE: 27.36; Avg FWD PE: 20; Proj FY-19 EPS: 425-450; Proj Fair Value: 8500-9000.<o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty: 25200; Q4FY18 EPS: 519; Q4FY18 PE: 48.55; Avg FWD PE: 20; Proj FY-19 EPS: 961-1000; Proj Fair Value: 19220-20000.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS</a>: </span><span style="text-align: left;"><span style="font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
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<span style="text-align: left;"><span style="font-family: Verdana, sans-serif;"><br /></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNt3RAKEHoCX2XyeEv_FLcOCOKlFM5svbmqpzq8EBaCWoZ6dF2_wsa6uolO390g-cAV9-6xDaFZ76MB8xI57CMpjAbksH9yhyz8oTYS6FqnIuSfg16JINsAfi8_9BoBXXoNPe9dEKKnQeo/s1600/SGX-NF-PATTERN-27-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNt3RAKEHoCX2XyeEv_FLcOCOKlFM5svbmqpzq8EBaCWoZ6dF2_wsa6uolO390g-cAV9-6xDaFZ76MB8xI57CMpjAbksH9yhyz8oTYS6FqnIuSfg16JINsAfi8_9BoBXXoNPe9dEKKnQeo/s320/SGX-NF-PATTERN-27-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3nhmxnRuZIZyEgOkG39jqkH4decgXnYFpP83n4QdyDyZaLF8mVaeRUE9VlGFGLI9QmNG4OFjzjO7oJSDLoM_znURKzWzh4fq-XIZsyi1fNmGaqTH7e3t3QsYs7SKJe6tyf1k2_jOYlsmG/s1600/BNF-PATTERN-27-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3nhmxnRuZIZyEgOkG39jqkH4decgXnYFpP83n4QdyDyZaLF8mVaeRUE9VlGFGLI9QmNG4OFjzjO7oJSDLoM_znURKzWzh4fq-XIZsyi1fNmGaqTH7e3t3QsYs7SKJe6tyf1k2_jOYlsmG/s320/BNF-PATTERN-27-09-2018.png" width="320" /></a></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwPofTmTNVptCFPwpor-j5Xl9gUfbFn5iQ1q9CGuPuSVGdf0S9ARF3WK38JRHUyvqzEDa4ABRps3p3_S-dR3F5VowzOIsJVimHudr65-yGjYrgXK7GFFn4OhQBCs8BTk81Q30bTOP9AHvo/s1600/USDJPY-FIBB-27-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwPofTmTNVptCFPwpor-j5Xl9gUfbFn5iQ1q9CGuPuSVGdf0S9ARF3WK38JRHUyvqzEDa4ABRps3p3_S-dR3F5VowzOIsJVimHudr65-yGjYrgXK7GFFn4OhQBCs8BTk81Q30bTOP9AHvo/s320/USDJPY-FIBB-27-09-2018.png" width="320" /></a></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDJPY</span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-17994719086754704832018-09-26T11:30:00.002+05:302018-09-26T11:30:33.661+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 26/09/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian market (Nifty Fut-I/India-50) closed
around 11097 Tuesday, jumped by almost +0.90% and bounced back from an earlier
low of 10909 after the Indian government and its “plunge protection team leader”
LICI vowed to do “anything required” to bailout IL&FS (at any cost) to
prevent further contagion effect in the financial market. <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The market sentiment was also boosted after the
government “urged” the RBI to cut CRR in addition of more OMO/bond buying
(Indian version of QE) to ease liquidity crisis and bailout the stressed
NBFC/HFC sectors. Although the Indian stock market jumped, bond and FX market
was not so much convinced as basically the government is now panicking for the
whole situation.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">The Indian stock market is now a victim of surging
USDINR, boiling oil (Brent around $82) and skyrocketing bond yield (above 8%,
comparable to Greece in their crisis period). The effect of global QT and Fed’s
dual QT (rate hikes and B/S tapering) coupled with higher borrowing costs in
India are now taking its toll and the market could have moderation in the forward earnings (EPS) and PE, which is already
quite stretched above 27.50 against its historical/reasonable PE of 18-20 with
an average EPS growth below 10% for the last few years despite “Modinomics”.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Looking ahead, the huge NPA divergence between RBI
audits and that of the big private banks could also rerate the private banks
& financials, which is one of the pillars of the Indian market.<o:p></o:p></span></div>
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<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:15<o:p></o:p></span></b></div>
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<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
11149 (+62; +0.56%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 25619 (+276; +1.09%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
72.60 (-0.10; -0.15%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2927 (+6; +0.21%)<o:p></o:p></span></div>
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<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11100/11040*-10995/10965-10940/10900-10850/10790-10750/10700<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11150/11180*-11200/11275-11295/11345-11385/11415-11475/11505<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25450/25200*-25000/24900-24650/24400-24100/24000-23800/23650<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25750/25850*-26050/26150-26250/26350-26575/26700-26850/26950<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.40/72.00*-71.50/71.25-70.95/70.70-70.50/69.95-69.60/69.15<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.90/73.05*-73.25/73.75-74.25/74.50-75.00/75.65-77.50/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915*/2905-2885/2860-2840/2815-2790/2750<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2945*/2960-2990/3010-3035/3070-3095/3155<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11200 for a
further rally to 11275/11295-11345/11385-11415/11475 in the near term (under
bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 11180-11150 NF may fall to 11100/11040-10995/10965-10940/10900-10850/10790
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25850
for a further rally to 26050/26150-26250/26350-26575/26700-26850/26950</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25800-25750 BNF may fall to 25450/25200-25000/24900-24650/24400-24100/24000
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 72.40 for a further
rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.90/73.05-73.25/73.75-74.25/74.50-75.00/75.65 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 72.00, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.50/71.25-70.95/70.70-70.50/69.95-69.60/69.15
</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain
over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bullish case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<br />
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2945,
SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915/2905-2885/2860-2840/2815</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET ANALYTICS</a>: </span><span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifrBaUUH5sFuu7ppQn484HMEaeN8bEB0Z6ochcVn1SQZXYxs-AETjVPomgqc1EhYU4Qbyl7jpH1KmWLgjKqfS12MB6nwdMQobbHlb5fLaNpL9McpxRIb60_Xit-TPW8yU8WKmNPuy7OaTH/s1600/SGX-NF-PATTERN-25-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifrBaUUH5sFuu7ppQn484HMEaeN8bEB0Z6ochcVn1SQZXYxs-AETjVPomgqc1EhYU4Qbyl7jpH1KmWLgjKqfS12MB6nwdMQobbHlb5fLaNpL9McpxRIb60_Xit-TPW8yU8WKmNPuy7OaTH/s320/SGX-NF-PATTERN-25-09-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY FUT</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWDlHJYlHXG1v0aDDVRICMp5lmC89W3JUKkLRGcqr2lkJsvlbiNSKvWM1d3jpbhkGEMbDeVLaEoTVorwAkLSs5nnVtGCXjU-QhWjsvhR7WW3_cPNP-MV9fYCJsNMrXY2UhIZ_M2iu2qNLB/s1600/BNF-PATTERN-25-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWDlHJYlHXG1v0aDDVRICMp5lmC89W3JUKkLRGcqr2lkJsvlbiNSKvWM1d3jpbhkGEMbDeVLaEoTVorwAkLSs5nnVtGCXjU-QhWjsvhR7WW3_cPNP-MV9fYCJsNMrXY2UhIZ_M2iu2qNLB/s320/BNF-PATTERN-25-09-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY FUT</span></div>
<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4XnvdOQk-Dckr7TSYgfXN1IelIF_pT0Z7Gx435A2a0YPcS-MefinpkO-87vkZz9e5Khgfhvn8YdQQz5Nx8kXU1u_HNE2JCOXRcXHb7jdd3PbCMO3grHe6HAQz0O8kgvOEBDhM7Imb3kse/s1600/USDJPY-PATTERN-25-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4XnvdOQk-Dckr7TSYgfXN1IelIF_pT0Z7Gx435A2a0YPcS-MefinpkO-87vkZz9e5Khgfhvn8YdQQz5Nx8kXU1u_HNE2JCOXRcXHb7jdd3PbCMO3grHe6HAQz0O8kgvOEBDhM7Imb3kse/s320/USDJPY-PATTERN-25-09-2018.png" width="320" /></a></div>
<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">USDJPY</span></div>
<br />
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BRENT OIL</span></div>
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<br />
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">GBPUSD</span></div>
<br />
<div class="separator" style="clear: both; text-align: center;">
</div>
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<div class="separator" style="clear: both; text-align: center;">
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<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: center;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">EURUSD</span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: center;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
</div>
Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-1866748535519340262018-09-24T12:58:00.001+05:302018-09-24T12:58:11.325+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 24/09/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">On Monday, the Indian market is under stress on higher USDINR, higher oil, and higher Indian 10Y bond yields above 8.10%. Finally, higher corporate bond yields above 9-11% are taking a toll on an inevitable debt bubble burst of banks & financials amid extremely higher borrowing costs, which are not viable for their business model. </span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Also, the legacy issues of NPA divergence between RBI and those of big private banks and some PSBS, including SBI is dragging the overall market sentiment. Global cues are also subdued amid lingering Trump trade war.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma;">Oil (petrol/diesel) being a politically sensitive product in India, the government is facing huge public as-well-as political backlash ahead of the general election in early 2019. Also, a government can “control” stock market, but controlling bond and FX market is much more difficult and often proved impossible. The market is expecting that LICI (government) could bailout IL&FS directly or indirectly, but that may also invite huge political “Hungama” (nuisance) at this moment.<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 11:40<o:p></o:p></span></b></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF: 11080 (-85; -0.75%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty-BNF: 25270 (-390; -1.55%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I: 72.68 (+0.70; +0.51%)<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2927 (-8; -0.25%)<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for NF:<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11015/10970*-10940/10900-10840/10790-10750/10700<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to NF:<o:p></o:p></span></div>
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<br /></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">11150/11180*-11245/11285-11325/11375-11415/11460<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Support for BNF:<o:p></o:p></span></div>
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<br /></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25000/24900*-24650/24400-24100/24000-23800/23650<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Resistance to BNF:<o:p></o:p></span></div>
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<br /></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">25500/25750*-25950/26150-26300/26400-26550/26700<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for USDINR-I:<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.70*/71.50-71.25*/71.00-70.70/70.10-69.85/69.15<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to USDINR-I:<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.05*/72.25-72.55*/72.90-73.05/73.25-73.75/74.25<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Support for SPX-500: <o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915*/2905-2885/2860-2840/2815-2790/2750<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">Resistance to SPX-500:<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2945*/2960-2990/3010-3035/3070-3095/3155<o:p></o:p></span></div>
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<b><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-fareast-font-family: "Times New Roman";">Technical View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11200 for a further rally to 11245/11285-11325/11375-11415/11460 in the near term (under bullish case scenario). <o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 11180-11150 NF may fall to 11015/10970-10940/10900-10840/10790 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 25800 for a further rally to 25950/26150-26300/26400-26550/26700</span><span style="font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> <span style="color: #330033;">in the near term (under bullish case scenario).<o:p></o:p></span></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 25750-25500/25400 BNF may fall to 25000/24900-24650/24400-24100/24000 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 71.70 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">72.05/72.25-72.55/72.90-73.05/73.25-73.75/74.25 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 71.50, USDINR-I may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">71.25/71.00-70.70/70.10-69.85/69.15 </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<br />
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 2945, SPX-500 may fall to </span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;">2915/2905-2885/2860-2840/2815</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"> in the near term (under bear case scenario).<o:p></o:p></span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY-SGX-NF</span></div>
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<span style="font-family: Verdana, sans-serif;">BANK NIFTY-BNF</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-82182264392143270052018-09-21T11:35:00.003+05:302018-09-21T11:36:46.559+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 21/09/2018<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On Friday, the Indian market soared on positive
global/US cues, lower oil (thanks to Trump tweet blasting OPEC), lower USDINR amid lower US dollar index, oil import/USD
SWAP window, ease of US-China trade tensions </span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">by “less damaging” and “watered down” Trump tariffs at 10% (neutralized
by China 10% Yuan devaluation) in lieu of 25% and China’s “muted retaliation”. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">The market still thinks the present US-China duet
as not an all-out “trade war” but a “trade skirmish/spats” only. The<b> </b>risk-on mood was further boosted after
China’s pledge not to “devalue” Yuan further in its trade war against the US. A
full-blown US-China/global trade war is
positive for the US dollar amid risk-aversion,
while the opposite is also true to some extent. <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
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<span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">But the Indian market may also come under renewed
stress as US dollar index could bounce back and India’s measures to support
rupee are too little and too late. The below normal monsoon, IL&FS default
crisis, new SEBI rules for AMC/MF distributions and higher import duties on
certain industrial and consumer items may affect the market sentiment</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 09:15<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
11345 (+75; +0.65%) </span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"> <o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank
Nifty-BNF: 26530 (+150; +0.55%)<o:p></o:p></span></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">USDINR-I:
71.95 (-0.48; -0.65%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2941 (+2; +0.07%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">11315/11280*-11260*/11230-11180/11130-11050/10950<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">11395/11415*-11460*/11485-11515/11535-11580/11605<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">26500/26250-26100/26000-25800/25650-25500/25400<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">26750*/26850-26950/27050-27200/27350-27500/27850<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">71.70*/71.50-71.25*/71.00-70.70/70.10-69.85/69.15<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.05*/72.25-72.55*/72.90-73.05/73.25-73.75/74.25<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2915*/2905-2885/2860-2840/2815-2790/2750<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2945*/2960-2990/3010-3035/3070-3095/3155<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11415 for a
further rally to 11460/11485-11515/11535-11580/11605 in the near term (under
bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 11395 NF may fall to 11315/11280-11260/11230-11180/11130
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 26750-26850
for a further rally to 26950/27050-27200/27350-27500/27850</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 26700 BNF may fall to 26500/26250-26100/26000-25800/25650
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 71.70 for a further
rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.05/72.25-72.55/72.90-73.05/73.25-73.75/74.25 </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bullish case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 71.50, USDINR-I may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">71.25/71.00-70.70/70.10-69.85/69.15
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>SPX-500</b> has to sustain over SPX-500 has to sustain
over 2950-2960 for a further rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2990/3010-3035/3070-3095/3155</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bullish case
scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<br />
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 2945,
SPX-500 may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2915/2905-2885/2860-2840/2815</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> in the near term (under bear case
scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET NEWS & ANALYTICS</a>:https://iforex.in/news</span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>:http://twitter.com/ASISIIFL</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD-Of0OBXV_zFSFH0mXJi4GcSpfsrcmP7L2GR9Q6PzR7gIYDoSA0i-PsSTrelP82Sc49tMpMISMSE_P8dvYHnAQjjvwd6P6mKfBlFq8nJ_ONaPAEiRtYjiuSdlSNt_a5doJe-WxZfYVkSm/s1600/SGX-NF-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD-Of0OBXV_zFSFH0mXJi4GcSpfsrcmP7L2GR9Q6PzR7gIYDoSA0i-PsSTrelP82Sc49tMpMISMSE_P8dvYHnAQjjvwd6P6mKfBlFq8nJ_ONaPAEiRtYjiuSdlSNt_a5doJe-WxZfYVkSm/s320/SGX-NF-PATTERN-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">NIFTY-SGX-NF</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihtJhvsxLW5UsIS11KMyzF7OhwwVfbquhfN1_mhUwaVR3Iz0WxXdRvzfmpnkWoF7hb0XWsv5mm6dD-i5pVQm5XQfXLGz2uUAlXhZofAPd3hZkPGte4dIkbxzpcz_JrE0_C1z3XcF6HO4dH/s1600/BNF-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihtJhvsxLW5UsIS11KMyzF7OhwwVfbquhfN1_mhUwaVR3Iz0WxXdRvzfmpnkWoF7hb0XWsv5mm6dD-i5pVQm5XQfXLGz2uUAlXhZofAPd3hZkPGte4dIkbxzpcz_JrE0_C1z3XcF6HO4dH/s320/BNF-PATTERN-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">BANK NIFTY-BNF</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVnaRn7y8pPlwV3fPyi4zvy6jSy2w_nS_EqzI1uPHbFuFhu3M5FEalNpNpnHypxSv-oPBcFHltJbg_JPc0oeTwh_LT6zs3fiaRU3hyphenhyphenG4JMVw-kFiH6Z45cpMZu4-RThA_1wE1eL2FSbnE_/s1600/SPX-500-FIBB-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVnaRn7y8pPlwV3fPyi4zvy6jSy2w_nS_EqzI1uPHbFuFhu3M5FEalNpNpnHypxSv-oPBcFHltJbg_JPc0oeTwh_LT6zs3fiaRU3hyphenhyphenG4JMVw-kFiH6Z45cpMZu4-RThA_1wE1eL2FSbnE_/s320/SPX-500-FIBB-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">SPX-500</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_XTNBVJwECeyqPGmq3Y9rzry9-VCqdWS0rg2EHjS0SajqrSIRZ722BjGVLvxuN9M8vDBszaKs_1vv2pORYJ_G1RDPj4rCq9A0zKnIhr0PJev6VatkbXeRWxu1WQ7CmKSVR7evD7bV2n7V/s1600/USDJPY-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_XTNBVJwECeyqPGmq3Y9rzry9-VCqdWS0rg2EHjS0SajqrSIRZ722BjGVLvxuN9M8vDBszaKs_1vv2pORYJ_G1RDPj4rCq9A0zKnIhr0PJev6VatkbXeRWxu1WQ7CmKSVR7evD7bV2n7V/s320/USDJPY-PATTERN-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">USDJPY</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglPMrnOweY-SdhlMXxKe8UWzDbmMW0Ge9medqhyphenhyphenwfr4mq2H0adA_aTIf6-HV5D4vyS13GlOA37XQ1wi-vuk3V4FF-WvN6_lHll-jSNHK9hQYCx5VAC_dOQEFpkFmz81QUe4YBwNQYWxoY_/s1600/EURUSD-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglPMrnOweY-SdhlMXxKe8UWzDbmMW0Ge9medqhyphenhyphenwfr4mq2H0adA_aTIf6-HV5D4vyS13GlOA37XQ1wi-vuk3V4FF-WvN6_lHll-jSNHK9hQYCx5VAC_dOQEFpkFmz81QUe4YBwNQYWxoY_/s320/EURUSD-PATTERN-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">EURUSD</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivuiQtLu1t5fXXer87gMy5fxXzyIdZED6fbwJdcG_b5cZhI7Lyl2c5wJcOhiwQL8vzhf-K9WtFk-u70WT6Xzz5upjnXGD2xSJIuD95yY7xJlbQHQ6qLcEDb0a51swQSzJ9khtN6z3wlXAm/s1600/GBPUSD-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivuiQtLu1t5fXXer87gMy5fxXzyIdZED6fbwJdcG_b5cZhI7Lyl2c5wJcOhiwQL8vzhf-K9WtFk-u70WT6Xzz5upjnXGD2xSJIuD95yY7xJlbQHQ6qLcEDb0a51swQSzJ9khtN6z3wlXAm/s320/GBPUSD-PATTERN-20-09-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , sans-serif;">GBPUSD</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLDlynyKwSUGp9O7HEeZlNUQ_MXtDaCW8oT3QZ-8mnKC_YdA1qFWmcHuL0rdLct7MN1VlHxtWMD-YCMwguJd9NshoIetcN07v7KGb2VRDLtsY5UbIGzpOHelnfsVYY6zKCR5nX5Dq3vWLh/s1600/USDX-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhLDlynyKwSUGp9O7HEeZlNUQ_MXtDaCW8oT3QZ-8mnKC_YdA1qFWmcHuL0rdLct7MN1VlHxtWMD-YCMwguJd9NshoIetcN07v7KGb2VRDLtsY5UbIGzpOHelnfsVYY6zKCR5nX5Dq3vWLh/s320/USDX-PATTERN-20-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">US DOLLAR INDEX-USDX</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEA1Laaixt50Z-cuWmqsoAPuzb4EbQniAx-PxQWJgf4hSfrcTiqj1HcOv8VxEhP_9C0fFlEKR8HlCJx3MoCoUGuD2Cc9sm9qXosVBUTSAnCjNv2bX7IvNo-aoJqSX_3j1P9lzvBoixHmlv/s1600/WTI-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEA1Laaixt50Z-cuWmqsoAPuzb4EbQniAx-PxQWJgf4hSfrcTiqj1HcOv8VxEhP_9C0fFlEKR8HlCJx3MoCoUGuD2Cc9sm9qXosVBUTSAnCjNv2bX7IvNo-aoJqSX_3j1P9lzvBoixHmlv/s320/WTI-PATTERN-20-09-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , sans-serif;">CRUDE OIL-WTI</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiScVBJLvF9u4kQ_O9Fs19coKKBPNqKH_0T4sDs6q20nq2KoNE30Z1YO9DbWhOKPI_qIFRiypmqH5EVy6qyGf7W1rsjXEVV9DBZ5ubBZVAAnbIMxV-5K-BHYwW1SQsJ56V_NhZ2oqTgOo5G/s1600/GOLD-PATTERN-20-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiScVBJLvF9u4kQ_O9Fs19coKKBPNqKH_0T4sDs6q20nq2KoNE30Z1YO9DbWhOKPI_qIFRiypmqH5EVy6qyGf7W1rsjXEVV9DBZ5ubBZVAAnbIMxV-5K-BHYwW1SQsJ56V_NhZ2oqTgOo5G/s320/GOLD-PATTERN-20-09-2018.png" width="320" /></a></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">GOLD</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-72154572192721077642018-09-19T11:11:00.002+05:302018-09-19T11:11:33.301+05:30Nifty plunged Tuesday on higher USD after Indian Finance Ministry comments; surging oil also dragged<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news/nifty-plunged-tuesday-higher-usd-after-indian-finance-ministry-comments-surging-oil-also-dragged-57811" target="_blank">The Indian market (Nifty Fut-I/India-50) closed around</a> 11318 Tuesday, plunged by almost -0.78% in late hours trade on higher USD after Indian Finance Ministry officials’ comments that they see rupee at 72-73 against the US dollar as “fair value” and 10Y bond yield at near 8% “could attract more capital inflows”. The Indian Finance Ministry “sources” also reportedly said rupee should not fall more than 2% (from present level) against the US dollar and rupee could come under pressure again once new US sanctions against Iran come into force.<o:p></o:p></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
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<span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><a href="https://www.iforex.in/news/nifty-plunged-tuesday-higher-usd-after-indian-finance-ministry-comments-surging-oil-also-dragged-57811" target="_blank">For More</a>----</span></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;">Technical View: <o:p></o:p></span></b></div>
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<b><span style="font-family: "Verdana","sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></b></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, whatever may be the narrative, <b>Nifty Fut-I</b> (NF) has to sustain over 11400 for a further rally to 11430/11460 <b>and only sustaining above 11460,</b> it could further rally to 11515/11535 and 11580/11605-11650/11680 in the near term (under bullish case scenario). <o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 11380, NF may fall to 11315/11280-11260/11230 <b>and only sustaining below 11260</b>, it could further plunge to 11180/11130-11050/10950 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 26650 for a further rally to 26850-27050 <b>and only sustaining above 27050</b>, it could further rally to 27300-27550 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below 26600, BNF may fall to 26500 and <b>only sustaining below 26500</b> BNF could further fall to 26250-26100 and further 26000/25800-25650/25500 in the near term (under bear case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">Technically, <b>USDINR-I</b> has to sustain over 72.70-<b>73.05</b> for a further rally to 73.25/73.75-74.25/74.45 and 75.00-75.65 in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";"><br /></span></div>
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<span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman";">On the flip side, sustaining below <b>72.40</b>, USDINR-I may fall to 72.15/71.95-71.50/71.25 and 70.90/70.50-70.00/69.75 and further up to 69.15 in the near term (under bear case scenario).</span><span style="color: #330033; font-family: "Verdana","sans-serif"; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Tahoma; mso-bidi-font-weight: bold;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: Verdana, sans-serif;"><a href="https://www.iforex.in/news" target="_blank">GLOBAL MARKET NEWS AND ANALYTICS</a>: </span><span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;">https://iforex.in/news</span></span></div>
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<span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;"><a href="https://twitter.com/ASISIIFL" target="_blank">FOLLOW ME</a>: </span></span><span style="background-color: transparent; text-align: left;"><span style="color: #330033; font-family: Verdana, sans-serif;">http://twitter.com/ASISIIFL</span></span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">NIFTY-SGX-NF</span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">BANK NIFTY-BNF</span></div>
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<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">USDINR-I</span></div>
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<span style="font-family: Verdana, sans-serif;">USDJPY</span></div>
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<span style="font-family: Verdana, sans-serif;">EURUSD</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0tag:blogger.com,1999:blog-3595154933155949008.post-81531641561835901422018-09-14T14:22:00.002+05:302018-09-14T14:24:56.710+05:30Market Mantra (Nifty Fut/Bank Nifty Fut/USDINR/SPX-500): 14/09/2018<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">On Friday, the Indian market soared on lower
USDINR amid lower US dollar index, ease of EM currency jitters after Turkey
raised 1-week repo rate more than expected, lower Indian CPI and hopes of some
government action to ease pressure on rupee in an economic preview meeting to
be chaired by the Indian Prime Minister Modi (on Saturday). <o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">There are various proposals to strengthen rupee
(INR), such as NRI bond (Indian version of IMF proxy at times of FX crisis),
FCNR window, USD SWAP window for OMC/oil importers to even a pre-emptive RBI
rate hike. Some fall in oil is also helping the Indian market coupled with
positive global cues amid hopes of US-China trade truce despite ongoing Trump
tantrum.<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"><br /></span></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Updated: 13:30<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; tab-stops: 295.5pt; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Nifty-SGX-NF:
11525 (+112; +0.98%) <o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Bank Nifty-BNF: 27218 (+240; +0.90%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">SPX-500: 2910 (+5; +0.17%)<o:p></o:p></span></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div style="line-height: 150%; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;">Fut-I (Key Technical Levels)<o:p></o:p></span></b></div>
<div style="line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">11490*/11475-11450/11425-11370/11330-11295/11265<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to NF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">11550*/11580-11605/11625-11675/11695-11725/1177<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><br /></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">27200/26900*-26750/26500-26400/26150-26050/25800<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to BNF:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">27300/27400*-27500/27700-27850/28000-28100/28200<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.00/71.50*-71.00/70.40-70.10/69.85/69.15<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to USDINR-I:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.55/72.85*-73.00/73.25-74.45/75.65-77.45/79.70<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Support for SPX-500: <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2880*/2860-2835/2800-2790/2770-2745/2700<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Resistance to SPX-500:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">2910/2925*-2940/2960-2990/3010-3035/3070<o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<b><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technical
View (Nifty, Bank Nifty, USDINR-I, SPX-500):<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Nifty Fut-I</b> (NF) has to sustain over 11550 for a
further rally to 11580/11605-11625/11675-11695/11725 in the near term (under
bullish case scenario). <o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 11530 NF may fall to 11490/11475-11450/11425-11370/11330
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>Bank Nifty Fut-I</b> (BNF) has to sustain over 27400
for a further rally to 27500/27700-27850/28000-28100/28200</span><span style="font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"> <span style="color: #330033;">in the near term (under
bullish case scenario).<o:p></o:p></span></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 27350-27300 BNF may fall to 27200/26900-26750/26500-26400/26150
in the near term (under bear case scenario).<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify;">
<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>USDINR-I</b> has to sustain over 72.00 for a further
rally to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">72.55/72.85-73.00/73.25-74.45/75.65 </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bullish case scenario).<o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 71.50, USDINR-I may fall to </span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">71.00/70.40-70.10/69.85/69.15
</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">in the near term (under bear case
scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">Technically, <b>SPX-500</b> has to
sustain over SPX-500 has to sustain over 2925 for a further rally to 2940/2960
and 2990/3010-3035/3070 in the near term (under bullish case scenario).</span><span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;"><o:p></o:p></span></div>
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<span style="color: #330033; font-family: "verdana" , "sans-serif"; font-size: 12.0pt; line-height: 150%;">On the flip side, sustaining below 2915-2895,
SPX-500 may fall to 2880-2860 and only sustaining below 2860, SPX-500 could
further fall to 2835/2800-2790/2770 and 2745-2700 in the near term (under bear
case scenario).<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeP1e_oJtwNYwtlXyP1q_haqWJ70ltZjlBBGuX_EKlO6h3NLVYn-KUTn_bN2CFkV2eaR-u7H-YJ25PMXQl7o40skwgnt0RK_e2ozH1ave4I5v_wsAf7oISRBb2eOFSZFlAdK_WNrC-8g__/s1600/SGX-NF-PATTERN-13-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeP1e_oJtwNYwtlXyP1q_haqWJ70ltZjlBBGuX_EKlO6h3NLVYn-KUTn_bN2CFkV2eaR-u7H-YJ25PMXQl7o40skwgnt0RK_e2ozH1ave4I5v_wsAf7oISRBb2eOFSZFlAdK_WNrC-8g__/s320/SGX-NF-PATTERN-13-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">NIFTY-SGX-NF</span></div>
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtWNCB54E2j49dClhEEzQsx12EDo7pbQY07cWRN8D11EEuGPpyXjsvTOQh24mINHeHFzdPbpIWl9bLXIu2qVUaoNBawQ1ifZR1Iy67xZewPOzysHiFglYI-klRBzt_453Wl7bh57iYesbc/s1600/USDX-PATTERN-13-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtWNCB54E2j49dClhEEzQsx12EDo7pbQY07cWRN8D11EEuGPpyXjsvTOQh24mINHeHFzdPbpIWl9bLXIu2qVUaoNBawQ1ifZR1Iy67xZewPOzysHiFglYI-klRBzt_453Wl7bh57iYesbc/s320/USDX-PATTERN-13-09-2018.png" width="320" /></a></div>
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<div style="text-align: center;">
<span style="font-family: "verdana" , sans-serif;">US DOLLAR INDEX-USDX</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnch6fXTW6sdMTC_D6k524VRq-3uebYngimoc_DSgd7Q6kZ4NKzloh-S-z9O7xz6HiwL0V8RAQ0jbfvi8WzWGA35UVNwHqKM0W94gDbc4DWgJTmKLvaNLMYch2Ji6Zv8tDk5jOD_ATFkes/s1600/BNF-PATTERN-13-09-2018.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="672" data-original-width="1366" height="157" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnch6fXTW6sdMTC_D6k524VRq-3uebYngimoc_DSgd7Q6kZ4NKzloh-S-z9O7xz6HiwL0V8RAQ0jbfvi8WzWGA35UVNwHqKM0W94gDbc4DWgJTmKLvaNLMYch2Ji6Zv8tDk5jOD_ATFkes/s320/BNF-PATTERN-13-09-2018.png" width="320" /></a></div>
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<span style="font-family: "verdana" , "sans-serif"; mso-bidi-font-family: Tahoma;"> BANK NIFTY-BNF</span></div>
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Asis Ghosh (https://twitter.com/asisiifl)http://www.blogger.com/profile/15665226181249647004noreply@blogger.com0