Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>The review period for the <a href="https://www.smartkarma.com/entities/nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">NSEBANK INDEX</a> ended on 31 Jan. The rebalance will be effective after the close on 30 March and the announcement will come end February.</li>
<li>Based on the index methodology, we see <a href="https://www.smartkarma.com/entities/bank-of-baroda" target="_blank" data-smartkarma-citation="entities:545:1" rel="noopener">Bank Of Baroda (BOB IN)</a> replacing <a href="https://www.smartkarma.com/entities/rbl-bank-ltd" target="_blank" data-smartkarma-citation="entities:22856:1" rel="noopener">RBL Bank Ltd (RBK IN)</a> in the index.</li>
<li>Passive trackers will need to buy 11 days of delivery volume on <a href="https://www.smartkarma.com/entities/bank-of-baroda" target="_blank" data-smartkarma-citation="entities:545:1" rel="noopener">Bank Of Baroda (BOB IN)</a> while selling 5 days of delivery volume on <a href="https://www.smartkarma.com/entities/rbl-bank-ltd" target="_blank" data-smartkarma-citation="entities:22856:1" rel="noopener">RBL Bank Ltd (RBK IN)</a>.</li>
</ul>


The review period for the NSEBANK INDEX ended on 31 Jan. The rebalance will be effective after the close on 30 March and the announcement will come end February.
Based on the index methodology, we see Bank Of Baroda (BOB IN) replacing RBL Bank Ltd (RBK IN) in the index.
Passive trackers will need to buy 11 days of delivery volume on Bank Of Baroda (BOB IN) while selling 5 days of delivery volume on RBL Bank Ltd (RBK IN).


NIFTY Bank Index Rebalance Preview: BOB Should Replace RBL Bank

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

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Technical Analysis

NSE Nifty Bank Index / Technical Analysis

<ul>
<li>Bank underperformance in India typically leads a Nifty top during stretched readings that are building in the Nifty.</li>
<li>Nifty banks are the preferred short (as a pair if you will) over the Nifty currently but will see the Nifty top out and commence a pullback.</li>
<li>Nifty stall zone near October highs with pullback support targets at 17,800 and 17,400 and comes at a time when the global cycle faces late January weaknesss.</li>
</ul>


Bank underperformance in India typically leads a Nifty top during stretched readings that are building in the Nifty.
Nifty banks are the preferred short (as a pair if you will) over the Nifty currently but will see the Nifty top out and commence a pullback.
Nifty stall zone near October highs with pullback support targets at 17,800 and 17,400 and comes at a time when the global cycle faces late January weaknesss.


<ul>
<li>India's Nifty displays deteriorating upside moment at our 18,500 top zone and short area to pressure pivot support at 17,800. Banks showing lead underperformance.</li>
<li>Nifty 18,500 and 18,775 represents our top and overshoot zone with a risk pivot above 18,775. Our downside objective lies at 16,700.</li>
<li>Banks are underperforming but due for a minor cycle bounce that must be factored into a short game plan.</li>
</ul>


India's Nifty displays deteriorating upside moment at our 18,500 top zone and short area to pressure pivot support at 17,800. Banks showing lead underperformance.
Nifty 18,500 and 18,775 represents our top and overshoot zone with a risk pivot above 18,775. Our downside objective lies at 16,700.
Banks are underperforming but due for a minor cycle bounce that must be factored into a short game plan.


ASX buy support has been met but adjusting lower post bounce. Pivotal support rests at 7,250 with rally objectives at 7,540 and 7,750 in Q4. Nifty banks (underperforming) stand out as the short set up into a Nifty frothy zone.Key input into ASX support hinges on the SPX view of a pullback in September.Nifty dip and rally into a new high is expected to see the bank rise run out of steam early and turn/top ahead of the Nifty.

ASX buy support has been met but adjusting lower post bounce. Pivotal support rests at 7,250 with rally objectives at 7,540 and 7,750 in Q4. Nifty banks (underperforming) stand out as the short set up into a Nifty frothy zone.Key input into ASX support hinges on the SPX view of a pullback in September.Nifty dip and rally into a new high is expected to see the bank rise run out of steam early and turn/top ahead of the Nifty. 

Nifty lower wedge support is our tactical buy zone with upper wedge resistance coming in near 15,800 with time translation. What is becoming increasingly apparent is that this rally is maturing within the overlapping rise as momentum indicators begin to drift lower (weaker into strength).We are using the banks as a hedge into buy support and will then initiate a bigger short strategy on a new Nifty high with the USD/INR near 72. For now the bet is to buy weakness and then look for warning signals to unfold.

Nifty lower wedge support is our tactical buy zone with upper wedge resistance coming in near 15,800 with time translation. What is becoming increasingly apparent is that this rally is maturing within the overlapping rise as momentum indicators begin to drift lower (weaker into strength).We are using the banks as a hedge into buy support and will then initiate a bigger short strategy on a new Nifty high with the USD/INR near 72. For now the bet is to buy weakness and then look for warning signals to unfold.

India Nifty Buy Support Within Maturing Rising Wedge

India

Nifty Bank Index is a free-float capitalization-weighted index comprised of the most liquid and large capitalized Indian Banking stocks. The index will have 12 stocks from the banking sector, which trade on the National Stock Exchange. The index was developed with a base value of 1000 as of January 1, 2000.

NSE Nifty Bank Index (NSEBANK INDEX EQUITY)

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NSE Nifty Bank Index (NSEBANK INDEX EQUITY)

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India Banks Leading a Nifty Top

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Nifty Top and Short

India's Nifty displays deteriorating upside moment at our 18,500 top zone and short area to pressure pivot support at 17,800. Banks showing lead...

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ASX Long and Nifty Bank Short

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India Nifty Buy Support Within Maturing Rising Wedge

Nifty lower wedge support is our buy zone with wedge target resistance coming in near 15,800. This rally is maturing within the rising wedge as...

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