Comfort Securities Limited Daily Research Reports (Daily-Reportآ  preferred trading strategy for Sensex/Nifty

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  • Disclosures and Disclaimer : This report must be read with the disclosures in the Disclosure appendix, and with the Disclaimer, which forms part of it. This document does not contain any investment views or opinions.

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    Daily Research Reports

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    To do so, Comfort Securities Ltd. brings you this daily market commentary which will help you to sharpen your instincts

    on investments in equity markets, gold, silver, crude-oil, USD/INR, the Dow Jones index, Hang Seng index, Euro-Dollar,

    etc. On the next few pages, you can learn more about the same. We would love to answer any further questions you may

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    Welcome Note

    Thursday 26th July, 2018

  • Stock Of The Day: (F & O)

    Forecast and Analysis

    CONTENTSCONTENTS

    Enjoy Your Comfort Zone.

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    Title Page No.

    '30,000 feet view’: The big picture of Dalal Street 04-07

    Stock Of The Day: (F & O) 08-09

    Equity Derivatives 10

    Daily Pivot Table (Equities) 11

    Forecast and Analysis 12-14

    Daily Pivot Table (Commodities) 15

    Disclaimer 16

    '30,000 feet view’:

    The big picture of Dalal Street

    '30,000 feet view’:

    The big picture of Dalal Street

  • Enjoy Your Comfort Zone.

    Invest Smart. Build Wealth.

    '30,000 feet view’: newsletter provides insights and themes for Indian equity markets. We also try and cover international themes for the day. This newsletter is quite popular with traders as it covers the most preferred trading strategy for Sensex/Nifty for the day.

    In Chart of the day section, we recommend a stock which is likely to move significantly in the short term, clearly defining the supports, the resistances and bias for the stock.

    In a nutshell, '30,000 feet view’: covers themes and insights for the day.

    ‘30,000 feet view’: The big picture of Dalal Street

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    Nifty Outlook

    Intraday

    Medium Term

    Long Term

    Key Levels to Watch

    Nifty Support

    Nifty Resistance

    Pivot Level

    Nifty

    Outlook for the Day

    INDICES

    Nifty

    Bank Nifty

    Nifty Auto Index

    Nifty FMCG Index

    Nifty Infra Index

    Nifty IT Index

    Nifty Media Index

    Nifty Midcap Index

    Nifty Metal Index

    Nifty Pharma Index

    Nifty Reality Index

    Nifty Smallcap Index

    Sensex

    SGX Nifty

    ‘30,000 feet view’: The big picture of Dalal Street

    Good Morning & Welcome to Thursday’s trading action at Dalal Street,

    dated 26th July 2018.

    Get your “Nifty all-time-high” hat ready!

    Well, judging by early action at SGX Nifty, it looks like the bulls are in total charge —

    according to momentum analysis and it’s most likely that Nifty will trade above the

    magical 11,172 mark.

    The technical landscape for the benchmark Nifty is signaling a break out. The Call

    Options Data too suggests that Nifty faces major hurdles at 11,200 as maximum call

    open interest (OI) of 32.18 lakh contracts was seen at the 11,200 strike price;

    followed by the 11,300 strike price.

    Our call of the day suggests on backdrop of short covering as primary theme, Dalal

    Street will have its best day of this week -- one of its best ever -- and most

    importantly, a joyful rally on cards.

    Having said that, expect a volatile trading session, as traders will roll over positions in

    the F&O segment from the near month July 2018 series to August 2018 series. The

    July 2018 F&O contracts expires today.

    What Technical Tells Us on Nifty: Nifty ended Wednesday’s session almost

    uunchanged, down 0.02% at 11,132.

    The positive takeaway was that the market breadth, indicating the overall health of

    the market, was strong. The BSE Mid-Cap index fell 0.12%, underperforming the

    Sensex while the BSE Small-Cap index rose 0.23%, outperforming the Sensex.

    Technically speaking, Nifty’s biggest hurdles’ are at its all-time-high at

    11,172.

    The must watch support levels are placed at 11061 & then at 11001. The technical

    landscape will worsen only if Nifty slips below the 10,751 mark as that would open the

    door to massive technical selling, possibly quickly to the 10,551-10,575 zone.

    Amidst yesterday’s positive close, the bias on Nifty continues to be positive. Having

    said that, aggressive buying advised only on any sharp corrective declines. For the

    day, we believe, Nifty may most likely to trade with positive bias and the benchmark

    most probably will aim to close above its all-time-high at 11,172 mark.

    Meanwhile, the price action for Nifty is suggesting that we are likely to see a 10,901-

    11,375 range in near term with positive bias.

    Outlook for Thursday: Nifty likely to close at uncharted territory.

    Judging by early action at SGX Nifty, it’s likely that the benchmark Nifty will have a

    positive trading session. Technically, fresh major buying appetite only above 11,175

    mark.

    Global cues:

    • Wall Street was seen trading mixed in yesterday’s trade as focus was primiraly

    on a key meeting between U.S. President Donald Trump and European

    Commission President Jean-Claude Juncker.

    • Worldwide stock markets are hoping for a truce in the trade tensions.

    11132 -0.02%

    27031 0.21%

    10810 -0.47%

    29965 -0.20%

    3109 -0.89%

    14575 -0.60%

    2851 -1.19%

    4891 -0.16%

    3262 0.89%

    8969 -0.88%

    264 -1.40%

    7275 0.39%

    36858 0.09%

    11151 0.12%

    Nifty will aim to close above all-time-high.

    Positive (11091-11221)

    Neutral (10551-11301)

    Neutral (12001)

    11061 & 11001

    11175 & 11501

    10751

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    Technical Strategy

    ‘30,000 feet view’: The big picture of Dalal Street

    Commodity Cues:

    • In commodities, oil prices were trading sideways as rising tension between the

    United States and Iran highlighted risks to supply while escalating trade

    disputes raised the prospect of slower economic growth and perhaps weaker

    energy demand.

    • Gold futures traded firm after comments from President Donald Trump on U.S.

    interest rates and the dollar that weighed heavily on greenback.

    • Copper prices too were trading firm in Wednesday’s trade, attempting to

    rebound from its lowest level in a year.

    Currencies & Bonds:

    • In Wednesday’s trade, the US Dollar index was seen consolidating after getting

    pummeled on Friday after President Donald Trump accused China and the

    European Union of currency and interest-rate manipulation that he says has put

    the U.S. at a disadvantage.

    • USD/INR was seen consolidating in Wednesday’s trade. Key interweek support

    seen at 68.45. Hurdles now seen at 69.11. Intraday Strategy: Sell at CMP,

    targeting 68.45 and then aggressive targets at 67.75-69 zone with stop ABOVE

    69.21.

    Macro Watch:

    • All anxious eyes will also be on the progress on monsoon. The street will also

    keep a close eye on the movement of Indian Rupee and the Crude-Oil prices as

    that could influence investors’ sentiment.

    • Amongst macro data, the street will brace for the announcement of the GDP

    data for the second quarter will be released on Friday. Recent US Federal

    Reserve minutes highlighted that the US economy continued to look strong.

    Economists predict GDP expanded at a 4.2 per cent annualised rate, compared

    with a 2 per cent increase at the start of the year.

    • The Monsoon session of Parliament began from July