Bank Nifty Support & Resistance Levels for 10-Dec-2015

BANK NIFTY TREND -CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 16630

SUPP 2: 163

RES 1: 17070

RES 2: 17450

Bank Nifty Technical Overview:

Bank Nifty Future opened almost flat and witnessed downside movement in morning session after some consolidation which lasts till market closing. Bank nifty future sustained below 16850 for the entire day but took support at 16650. If it manages to sustain below 16850 then it can test 16600-16500.

Sensex gains over 100 pts, Nifty below 7650; ONGC down After weakness for six consecutive days, the market has rebounded on Thursday. The Sensex is up 106.93 points or 0.4 percent at 25142.98, and the Nifty is up 31.85 points or 0.4 percent at 7644.35. About 682 shares have advanced, 201 shares declined, and 36 shares are unchanged. 

INDIAN MARKET OVERVIEW

Nifty future continued losses for sixth consecutive session Wednesday as Investors remained cautious due to uncertainty over GST Bill and volatility in oil prices. Nifty future down by 84 points to close at 7644.

The 30-share BSE Sensex ended down 274 points at 25036. The market breadth was very weak as about 506 shares advanced against 2261 declining shares on the BSE.

Union Fertilisers Minister Ananth Kumar on Wednesday said there will be a separate ministry for pharma and medical devices sector in the next one year, and assured that the government will soon implement the Katoch panel recommendations to cut bulk drugs import from China.

Retirement fund body Employees' Provident Fund Organization (EPFO) is likely to increase the interest rate on PF deposits for 2015-16, from 8.75 percent fixed for the last two financial years, during its trustees' meet tomorrow.

GLOBAL MARKET OVERVIEW

Asian markets traded cautiously in the morning session on Wednesday as the slide in oil prices continued to weigh on investor sentiment. Oil prices remained low during US trading hours as a result of a global supply glut.

Japan posted two consecutive days of positive economic data. On Tuesday, growth in revised third quarter gross domestic product (GDP) and on Wednesday October core machinery orders rose unexpectedly by 10.7 percent on-month.

US markets closed in the red. The Dow Jones Industrial Average dropped 162 points to 17,568. The S&P 500 was down 13 points at 2,063 while the Nasdaq ended near flat, down 3 points at 5,098

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Nifty Top Gainers Today

The Nifty up 9 points, or 0.12%, to close at 8,060, with the index closed below the 8100-mark for consecutive three days since October1 this year

IT services provider Tech Mahindra’s July-September quarter profit increased 16.2 percent sequentially to Rs 785.6 crore, driven mainly by other income and operational performance. 

The Indian rupee opened with a marginal gains of 9 paise at 65.56 per dollar against 65.65 Tuesday.

 Nifty Tops Gainers:

Company	Prev Close (Rs)	Current Price (Rs)	% Change
Tata Motors Ltd.	382.05	402.10	+5.25
Bajaj Auto Ltd.	2424.55	2,458.70	+1.41
Mahi. & Mahi	1232.95	1,247.25	+1.16
Hero MotoCorp	2582.75	2,611.95	+1.13

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Nifty Future Tips And Market Trend By CapitalHeight

Bank Nifty Market Trend

CH BANK NIFTY TREND –CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 17040

SUPP 2: 16850

RES 1: 17570

RES 2: 17850

Market Trend

         The market extended previous day's rally further in early trade Wednesday. The Sensex surged 225.78 points or 0.88 percent to 26004.44 and the Nifty climbed 71.35 points or 0.91 percent to 7914.65. Tata Steel, Vedanta, TCS, Hindalco Industries, SBI, HDFC and IndusInd Bank rallied 1.5-2.5 percent. 

          The Indian rupee gained 9 paise in early trade today. It has opened at 65.87 per dollar against previous close of 65.96. Pramit Brahmbhatt of Veracity feels reduction in FII inflows coupled with profit booking in local equities may pressure the rupee to trade weak. He sees range for today between 65.40-66.40/dollar.

• Indian mkts ended upside. Nifty and Sensex up by 0.61% and 0.63%
• Asia Pacific market mixed. Jakarta up by 1.39% & Nikkei down by 4.22%.
• Wall St. dwn. USD Core Retail Sales down to 0.1%. Dow future down by 187 pts.

          Indian indices remained volatile and closed on positive note as RBI lowered the repo rate by 50 basis points to 6.75 percent, while kept CRR and SLR unchanged at 4 percent and 21.5 percent, respectively. Sensex was up by 161 points at 25778 & Nifty up by 47 points to settle at 7843 level. European markets traded mixed.

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Stock Future Tips by CapitalHeigh

Bank Nifty Market Trend 

CH BANK NIFTY TREND -CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 16440

SUPP 2: 16050

RES 1: 16970

RES 2: 17350

Market Updates

• Equity benchmarks extended rally with the Sensex rising 217.74 points or 0.85 percent to 25827.95 and the Nifty gaining 65.30 points or 0.84 percent at 7854.60.
•   Shares of Rolta India climbed 5.8 percent intraday on additional 13 million dollar contract for engineering information asset solution. It has designed, developed and deployed this solution for one of the world’s largest petrochemical complexes.
• Buy Tata Steel (Rs 234) at current levels and add more in small quantities at declines for medium term.
• Buy Reliance Power (Rs 40) for medium term. For near term, keep a stop loss at Rs 35.
• Greaves Cotton has announced that it has launched a new range of Farm Equipment Products at manufacturing plant in Gummidipoondi near Chennai. The stock is trading at Rs 136, up nearly 2%.
• The market is trading modesty higher a little past noon, having recovered fairly well after a sluggish start. Data showing industrial output to have grown 4.2% in July and somewhat steady Asian markets are contributing to the positive mood at present
• The Sensex is up 109.90 points or 0.43% at 25,719.21. The Nifty is at 7819.65, up 30.35 points or 0.39% from its previous close.

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