Market Commentary. Weekly Technical Roundup

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1 Market Commentary Sector Wise Performance Indices Last Traded % Change NIFTY IT NIFTY BANK NIFTY REALTY NIFTY INFRA INDIA VIX NIFTY ENERGY NIFTY FMCG NIFTY PHARMA NIFTY PSU BANK NIFTY AUTO NIFTY MEDIA NIFTY METAL NIFTY COMMODITIES NIFTY CONSUMPTION TOP WEEKLY GAINERS BAJFINANCE IBULHSGFIN BAJFINSERVE TECHM TOP WEEKLY LOSERS DRREDDY HINDALCO TATASTEEL BAJAJ-AUTO Sensex opened the week at 36658, made a high of 36747, low of and closed the week at Thus it closed the week with a loss of 45 points. At the same time the Nifty opened the week at 11018, made a high of 11076, low of and closed the week at Thus the Nifty closed the week with a loss of 8 points Options data for July series indicate highest Call Open Interest is at the strike of whereas the highest OI build-up in PUT is now at the strike of followed by PE. Open interest of PE and PE has a little difference, hence sustaining above is important for bulls to struggle with Below it would tend to move towards The change in OI should also be watched. VIX is at , if it moves below 13, it would be positive for the market to maintain strength. VIX if moved above 14 there may be strong selling pressure. PCR is at 1.74 which is a highly overbought situation bulls should remain cautious. If below 1.50 it would be neutral. If it comes around 1.20 to 1.30 it would be comfortable position to enter into long positions.. Bajaj Auto reports 20.7% rise in Q1 standalone net profit to Rs 1,115 crore, misses estimates. Wipro sees % growth in Q2 IT services revenue underperforming its peers TCS, Infosys and HCL Technologies that rallied 47 percent, 27 percent and 10.5 percent, respectively UPL to acquire Arysta LifeScience in $4.2 billion all-cash deal. UPL Corp is the wholly-owned subsidiary of UPL Ltd. in Mauritius while Arysta Lifescience is a global provider of innovative crop protection solutions, including Bio-Solutions and Seed Treatment U.S. President Donald Trump on Friday dug in on his criticism of the Federal Reserve's policy on raising interest rates, saying it takes away from the United States' "big competitive edge." Kotak Mahindra Bank Q1 provisions at Rs cr versus Rs 307 cr (QoQ); vs Rs crore (YoY) RBL Bank Q1 net profit up 34.8% at Rs 190 cr versus Rs 141 cr (YoY) RESULTS AHEAD- ACC DELTACORP GRANULES HINDOILCORP HINDZINC UNITED SPIRT VIJAYABANK WELCORP ASIANPAINTS CHAMBLEFERT GLAXO HEXARWARE ICICIPRUI INOX KAJARIA KRBL NAUKRI NETWORK18 RBL TV18 AMBUJACEM BHEL CANBK CROMPTON HCL-INSYS HEROMOTO INFRATEL INTELLECT IRB JSWSTEEL JUBLFOOD KPIT LT NOCIL OBC PVR TATAELXSI BHARTIARTL BIOCON CESC COLPAL CONCOR DRREDY ITC J&KBK MARUTI NIITLTD PETRONET SBILIFE TATACOFEE TATAMETALI SRTRANSFIN TATAPOWER YESBANK BOB ICICIBANK IOB JSWENERGY M&MFIN USDINR rallied from to with the confirmation of a dragonfly doji on daily chart. Now seems struck in the range to which a consolidation zone for near term. Brent Crude (72.99$) made to tops at and respectively, and dragged downwards 71$. Now, 50 SMA around would act as a resistance level and the short to medium term range would be 69$ to 77$ YESBANK LUPIN 1

2 Nifty Weekly Outlook Outlook: Nifty is expected to trade initially in the range to in the coming week. Resistance Support Nifty (11010), Weekly chart has a doji candle indicating indecisiveness after the rally and in over bought region. The previous candles of the weekly chart indicate support at previous bullish consolidation breakout level and an immediate resistance at and Inability to sustain above 11111would drags the index to the support levels at Immediate support in daily chart is and breaching of this level would be a trigger for further down side movement. 50 SMA at should be considered as major support. Medium term support is at near 100 SMA. Oscillators are mixed. FO expiry weak may create volatility and monthly closing on Friday would give further cues. Nifty Chart (Weekly):11010 High Low Resistance Levels - R R R R Support Levels - S S S S NIFTY - BANK Outlook Outlook: Nifty Bank (26873) has made a doji candle on weekly chart indicating the indecisiveness. It came after a confirmation to a hammer on weekly chart. Since the previous peaks are almost matched, a decisive move above would cause huge buying interest and the index may be surged towards and Considering previous two weeks low, the initial range might be to initially. Below this range 50 SMA at which would act as a short term trend decider. Next support is around and Oscilators are showing mixed trend. FO expiry ahead would cause volatility. 2

3 Bank Nifty Chart (Weekly): High Low Resistance Levels - R R R R Support Levels - S S S S NIFTY Midcap (18263) Nifty MIDCAP (18055) Nifty midcap has made three consecutive hammers o weekly chart indicating indecisiveness. Sustaining above would indicate bullish trend trading below would be a negative signal. Resistances are and At resent 500 SMA at has provided a strong support and 50 SMA at would act as a strong hurdle Trading below would be a big negative for the index. Next support is at Oscillators are showing mixed trend. 3

4 Stock Picks CONCOR (638) Godrej Agrovet has a head and shoulder pattern and neckline breakdown is expected below 582. The target after breakdown would be 520. A stop loss of 604 should be maintained. AXISBANK (533.70) Axisbank(533.70) has confirmed a volatile doji and confirmed a trend deciding support at 515. Inverse head and shoulder pattern breakout is expected above the neckline at545, the upside potential expected is 577 and

5 SBIN (261.50) SBIN has an inverse head and shoulder pattern the breakout ios expecvted above 264 for target 275 and 280. As per weekly chart, traders may enter at Cmp or any dip with sl 255. Disclaimer Source: Sumpoorna Research, NSE, BSE, SEBI, and other publically available documents. Document prepared by: Nitesh Aggarwala & Sunil Koul For further information, please contact: Sumpoorna Global Markets & Economics Research Phone: url: This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the security/ instrument referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Sumpoorna Portfolio Limited, its affiliates, directors, its proprietary trading and investment businesses (collectively referred to as Sumpoorna ) may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a investment vehicle's price movement, outstanding positions and trading volume, as opposed to focusing on a instrument's fundamentals and, as such, may not match with a report on a company's/ investment vehicles fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Sumpoorna or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Sumpoorna has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Sumpoorna endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Neither Sumpoorna, its directors, employees nor its affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please contact Sumpoorna for more information on investment decisions. Also, please refer to the latest update on respective investment instruments for the disclosure status in respect of those particular investment instruments. Sumpoorna and its affiliates and clients may have investment positions in the investment vehicles recommended in this report. 5