DAILY NIFTY OUTLOOK, 19TH AUG, 2015

Nifty August futures (8481.7)(-6.35):
It opened on a positive note and moved up firmly to test the high of 8531.95 but then slipped from there to test a low of 8437.25. It recovered in the latter half of the session to close the day with modest losses. It was an inside day since the range was encompassed within the range of the previous day and so today is likely to be a volatile session and the direction of the breakout will signal the direction of the trend. It has been consolidating after the big move on the 14th and so breakout in any direction will be significant. On the higher side, 8500 is the immediate resistance above which 8540 is the next supply zone and this must be taken out before fresh momentum can be expected. 8590-8612 must be taken out decisively before the bulls can feel comfortable again. On the lower side, 8470 is the immediate support below which 8460, 8434, 8387, 8372 are important levels expected to give some support. Below 8390, the initiative will move in the hands of the bears. A decisive breach of 8355 will signal further weakness.

• Resistance: 8496-8500, 8540, 8562, 8590, 8612, 8635, 8665, 8700-8710


• Support: 8470, 8462, 8434, 8400, 8370, 8355, 8305-8300, 8290

Bank Nifty August futures (18812.55) (-29.7):

Bank nifty future opened the session on a firm note and touched the intraday high in the opening session itself. There was a slow slide thereafter as it slipped to a low of 18614 in the post noon session but recovered quickly to close the day around the high with modest losses. The 18610 region has become an important support as nifty has bounced back from this region on two consecutive days and a decisive breach of this level will be significant and have bearish implication. The latter half of the session was more volatile. The undertone is mildly bearish as it has closed in the negative and it failed to make inroads into the 18900 region. Technically it was an inside day since its range was encompassed within the range of the previous day and a breakout is most likely today which will signal the direction of the trend for the next session. 18840, 18890 is the immediate resistance and a follow up buying should take it initially above 18920 and then above 19020 if the bullishness is to sustain. 18800-18760 is the immediate support below which 18714, 18660, 18600. A decisive breach of 18600 at this juncture, however, will signal weakness. 18520-18495 is the critical level and a breach of this zone will be significant and load the dice in favour of the bears.

• Resistance: 18840, 18890, 18920, 19000, 19030, 19064, 19140, 19195-19200, 19265


• Support: 18800, 18760, 18714, 18660, 18615, 18585, 18520, 18490, 18400, 18330, 18300, 18230, 18140, 18085, 17930

WWW.ADAMCAPITALFINANCIAL.COM

+91 9743615104

DAILY MARKET AND SENTIMENTS OUTLOOK, 19TH AUG, 2015

Dear Customer,

 

Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.

 

• U.S. stocks closed lower Tuesday following mixed earnings reports and upbeat new housing data.

Dow Jones	17511.3	-33.8	-0.19%
Dow Futures	17483.0	+1.0	+0.01%
Hangseng	23226.8	-248.1	-1.06%
Nikkie	20448.5	-106.0	-0.52%
SGX Nifty	8461.0	-13.0	-0.15%

 

• Asian stocks fell a fourth day as a deepening commodities selloff raised concern growth may be slowing in China, and as investors await clues from the Federal Reserve on the timing of a U.S. interest-rate increase.
• Market is expected to open on slightly negative note and likely to remain range bound during the day.
• ICICI Bank has acquired 8.89% stake in leading rose exporter Karuturi Global
• State Bank of India chairperson Arundhati Bhattacharya has said the bank is currently not looking at merging its associate banks, and is instead focusing on more important challenges.
• Power Grid has said the Rs 12,000-crore transmission line between Assam and Agra having 6,000-MW capacity will be commissioned by month-end.
• Rajesh Exports Ltd has bagged an export order worth Rs 1,170 crore from an UAE-based company for gold and diamond-studded jewellery and medallions.
• DLF sells four acre land parcel in Kochi for Rs 111 cr
• Infosys Bags Order From Fidelity Bank Of Nigeria
• Union Environment and Forests Minister Prakash Javadekar today said the government has approved an eco-sensitive zone around the Okhla Bird Sanctuary in Noida. In October 2013, the NGT had restrained New Okhla Industrial Development Authority from issuing completion certificates for structures falling within 10 km of Okhla bird sanctuary. DLF ’s Mall of India in Noida and 4 other realty projects fall within this radius. Approximately  20,000 flats of Jaypee Infra also fell within the radius.
• Contesting a Rs 10,247-crore tax demand raised on its eight-year old internal business recognition, British oil explorer Cairn Energy has said it will seek damages from the government for the loss in value of its holdings suffered because of the notice.
• The government has scrapped the privatisation of four major airports - those at Chennai, Kolkata, Jaipur and Ahmedabad. While the airports at Chennai and Kolkata will continue to remain under the complete control of the Airports Authority of India (AAI), fresh bids for the Jaipur and Ahmedabad airports will be invited from private players. These bids, however, would only be for operation and maintenance contracts,