The upside remains open towards 10,650 – 10,700 but it will be too soon to take bullish call given the indicators are showing a weaker trend strength.
We expect Nifty to mean revert towards critical moving averages which are placed around 10,700-10,800 levels (200-DEMA placed around 10,779).
While Kochhar Thursday resigned from the post of MD and CEO of ICICI Bank with immediate effect, Sharma is leaving Axis Bank in December.
Bulls should only be able to regain control if the index reclaims 11,170 levels comfortably, else we may consolidate around current levels.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.
Considering the technical evidence discussed above, we believe that, short-term pullback rally is on the cards and bottom of 10,750 levels should not be violated soon.
The current panic may continue for few more days due to margin calls triggered post heavy sell-off of Friday, says Shabbir Kayyumi of Narnolia Financial Advisors.
The platform entails having a smart card, a mobile app and a web portal, which can be used for payments and is primarily targeted at the overall seven lakh users of the civic body bus transport.
The central bank’s handling of the Yes Bank case leaves much to be desired
Goldman Sachs, which was strategically overweight on India since March 2014, has turned slightly cautious towards Indian market in 2018 and lowered its investment view to marketweight from overweight earlier.
ICICI Direct is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 725 in its research report dated September 10, 2018.
The Commission also asked the bank to issue Indemnity Bond (undertaking given by a party entering into a contract promising to bear the losses in case of breach of contract) in favour of Gupta regarding all these documents.
Motilal Oswal is bullish on Axis Bank has recommended Buy rating on the stock with a target price of Rs 750 in its research report dated September 09, 2018.
Analysts said the first task on hand for Chaudhry is to change systems and processes while working with existing senior executives
Chaudhry, who is replacing Shikha Sharma, will begin his new role on January 1, 2019 for a three-year term.
In a filing to the stock exchanges, HDFC Standard Life said Chaudhry, Managing Director & CEO of the company, has tendered his resignation.
Chaudhry will take over for three years from January 1, 2019 till December 31, 2021
Existing Axis Securities clients can now trade commodity futures and options after filing a declaration, Axis Securities managing director Arun Thukral told a news conference.
In Telangana, the country's third largest private sector bank, currently has 123 branches and 731 ATMs.
KR Choksey recommended hold rating on Axis Bank with a target price of Rs 562 in its research report dated August 01, 2018.
HDFC Bank’s chief Aditya Puri received Rs 92.31 lakh as deferred bonus, Axis Bank's Shikha Sharma got Rs 44.10 lakh, and ICICI Bank CEO Chanda Kochhar was richer by Rs 20.69 lakh.
JM Financial recommended hold rating on AXIS Bank with a target price of Rs 590 in its research report dated July 30, 2018.
Motilal Oswal is bullish on Axis Bank has recommended Buy rating on the stock with a target price of Rs 670 in its research report dated July 30, 2018.
Centrum Research recommended hold rating on Axis Bank with a target price of Rs 540 in its research report dated July 31, 2018.
Prabhudas Lilladher recommended accumulate rating on Axis Bank with a target price of Rs 624 in its research report dated July 31, 2018.