April 2015 Snapshot – Nifty & BankNifty
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CONTENTS
Technical Analysis (M.A., PIVOTS, FIBO)
S&P CNX Nifty Banknifty Latest Updates
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TECHNICAL VIEW Moving averages Moving Averages
21 Day
50 Day
100 Day
200 Day
Daily Weekly
8650 8638
8749 8155
8592 7143
8245 6275
Fibonacci retracement levels (Daily) SCRIPT
0.0%
23.6%
38.2%
50.0%
61.8%
100.0%
NIFTY
8323
8529
8655
8758
8861
9192
Weekly Pivot SCRIPT Nifty
R4 9085
R3
R2
R1
P
S1
S2
S3
S4
9003
8921
8888
8839
8806
8757
8675
8593
Monthly Pivot SCRIPT
R4
R3
R2
R1
P
S1
S2
S3
S4
Nifty
9826
9466
9106
8980
8746
8620
8386
8026
7666
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Chart Analysis :- S&P CNX NIFTY Nifty daily Chart
Nifty weekly Chart
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Observations •
The highs of the last two sessions have been broken on the upside in last trading session and Nifty Futures closed at 8855.45.
•
The upward journey continued in Nifty futures for a week and closed with the gains of around 50+ points in last trading session i.e. on 13/04/2015.
•
Currently Nifty future is trading above the short term 21 & 50 daily SMA which are at 8650 and 8749.
•
Nifty is consistently showing recovery from lower levels in the last couple of weeks and any bearish signal candlestick patterns such as hanging man are not effective.
•
On daily charts the positive crossover signal of MACD is considered as a trend continuation signals for Nifty Futures as MACD is lagging indicator.
Conclusion The short term trend of Nifty Futures is intact and continues to be up. Now if Nifty futures gives closing above 61.8 % retracement level (i.e.8873) then further upward trend may continue towards 9000 & then to the life time high. Immediate support is to be considered are around 8760-8770 levels.
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Signal (0 10)
Indicator
Analysis
RSI
RSI is 62.0. According to RSI analysis, nifty just got above it's resistance level and showing good signal.
9.0
MACD
MACD: 14.3 and Signal Line: -24.6. According to MACD analysis, nifty is technically strong.
8.0
Simple Moving Average
According to simple moving average analysis, nifty is in a uptrend. Support level is at 8.71e+03.
9.0
Exponential Moving Average
According to exponential moving average analysis, nifty is in a strong uptrend. Major support levels are 8663.539, 8644.923, 8159.351.
10.0
Bollinger Bands
%b is 0.931. According to bollinger bands, nifty has moved strongly towards upper band, which is a positive signal.
9.0
Fibonacci Retracement
According to fibonacci retracement, price is above all levels. Major support is at 8794.4809 and 8694.175. And resistance is at 9119.2.
2.0
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BANKNIFTY Moving averages Moving Averages
21 Day
50 Day
100 Day
200 Day
Daily Weekly
18681 19047
18873 16895
18912 14153
17355 12411
Fibonacci retracement levels (Daily) SCRIPT
0.0%
23.6%
38.2%
50.0%
61.8%
100.0%
BANKNIFTY
17710
18425
18870
19235
19595
20740
Weekly Pivot SCRIPT
R4
BANKNIFTY 19468
R3
R2
R1
P
S1
S2
S3
S4
19268
19068
18962
18868
18762
18668
18468
18268
Monthly Pivot SCRIPT
R4
R3
R2
R1
P
S1
S2
S3
S4
BANKNIFTY
20966
20207
19448
19152
18689
18393
17930
17171
16412
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Daily chart
Weekly chart
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On the above chart Banknifty is trading in range bound levels. Currently it has given closing below 38.2 % retracement level (ie.18872) and there is strong resistance of 19040-19110 so sustaining above the 50% retracement (ie.19234) may lead a bullish rally in Banknifty. ďƒ˜ On the daily chart Banknifty has been consolidating and it is trading below the crucial resistance of 19110 and in weekly chart also it has not broken upside resistance so selling might be seen for short term and if it manages to sustain above 19250 then it will create a good buying opportunity for traders up to the level of 19550.
Indicator
Analysis
Signal (0 - 10)
RSI
RSI is 51.7. According to RSI analysis, banknifty is technically weak.
1.0
MACD
MACD: -92.5 and Signal Line: -164.0. According to MACD analysis, banknifty is marginally strong.
7.0
Simple Moving Average
According to simple moving average analysis, banknifty is facing resistance from its 50-day simple moving average at 18978.37 and support level is at 1.86e+04.
2.0
Exponential Moving Average
According to exponential moving average analysis, banknifty is in a uptrend. Support level is at 1.88e+04.
9.0
Bollinger Bands
%b is 0.691.
5.0
Fibonacci Retracement
According to fibonacci retracement, price is above 38.2% level. Support is at 18797.4686. Resistance levels are 19130.5 and 19463.5314.
3.0
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Latest Updates April 11, 2015 Industrial index production at 5% in March Industrial output shows some signs of revival with the IIP in February accelerating by 5 percent, led by mining and manufacturing sectors.
April 13, 2015 Food prices drive March CPI lower to 5.17% Retail inflation, as measured by the consumer price index (CPI), slowed to 5.17 percent year-on-year in March, government data released today showed, compared to 5.37 percent in February. The fall was largely broad-based with food inflation, which constitutes nearly half the index, coming in at 6.14 percent compared to 6.79 percent in February, clothing and footwear slowed to 6.27 percent YoY from 6.38 percent, though fuel and light inflation perked up a bit. Accelerating by 5 percent, led by mining and manufacturing sectors.
April 14, 2015 India's GDP growth rate to reach 8% by 2017: World Bank In India, GDP growth is expected to accelerate to 7.5 percent in fiscal year
2015/16. It could reach 8 percent in FY 2017/18, on the back of significant acceleration of investment growth to 12 percent during FY 2016-FY 2018. The country is attempting to shift from consumption to investment-led growth, at a time when China is undergoing the opposite transition, it said. The bank's twice-a-year South Asia Economic Focus report projected steady increase in regional growth from 7 percent in 2015 to 7.6 percent by 2017 .
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