May 31, 2016
TEHNICAL & DERIVATIVE REPORT May 31, 2016
SENSEX (26725.60 ) /NIFTY (8178.5) “Nifty may open in GREEN indicating domestic market cues” Indian benchmark indices are likely to open in green with the market indicator SGX nifty trading +24.50 points at 8,195.00 at the time of market closed. Asian market , America market and Europe market trading green.
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KEY VALUE SUPPORT 1- 8140
RESISTANCE1- 8200
SUPPORT 2- 8080
RESISTANCE 2- 8260
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OBSERVATION Nifty closed at 8178.5 with a gain of (+21.85) points. On the daily chart the index has formed BULLISH candle indicating negative bias.The index is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. The chart pattern suggests that if Nifty crosses and sustains above 8200 level it would witness buying which would lead the index towards 8240-8260 levels.However if index breaks below 8140 level it would witness selling which would take the index towards 8100-8080Nifty continues to remain in an uptrend in the short to medium term, so buying on dips continues to be our preferred strategy. The daily strength indicator RSI is moving downwards and above its reference line indicating pnegative bias. However momentum oscillator Stochastic has turned negative from the overbought zone indicating a possible consolidation or a down move in the near term The trend deciding level for the day is 8200. If NIFTY trades above this level then we may witness a further rally up to 8240-8260 levels. However, if NIFTY trades below 8140 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.8100-8080. STRATEGY :NIFTY is looking BULLISH on a chart for next day. One can go for buy on lower level strategy for this index for intraday to midterm positions.
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TEHNICAL & DERIVATIVE REPO May 31, 2016
NIFTY BANK OUTLOOK- (17520.65) On Friday session, the index had given a flat opening followed up with positive momentum throughout the session. The “UPTREND� pattern formed during the previous week on weekly charts has been negated as the index has managed to cross the high on FRIDAY, thus indicating bulls taking control back in their favor. If the index manages to continue its momentum, then it could rally up to 17150-17450 range which is 127% reciprocal retracement of the previous corrective move from 16400 to 16285. Traders are hence advised to continue to trade in the direction of the trend and follow strict risk management strategy on their trading positions. Intraday support for Nifty Bank is placed around 16997and 17100whereas resistance are seen around 17555.
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KEY VALUE Support 1- 17350
Resistance1- 17550
Support 2- 17200
Resistance 2- 17675
MARKET INDICATORS
ASIA MARKET:Index
Last Traded
Change
Straits Times
2,802.51
+29.20
Hang Seng
20,576.77
+179.66 +0.88%
SSE Composite Index (Shanghai)
2,821.05
-1.39
Nikkei 225
16,834.84
+62.38
+1.05%
-0.05% +0.37%
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AMERICA :-
Index
Last Traded
Change
Dow JONES
17,828.29
S&P500
2,090.10
-0.44
Nasdaq
4,901.77
+6.88
-23.22
-0.13% +0.02% +0.14%
EUROPE :Index
DAX
FTSE 100
Change
Last Traded 10,278.25
+5.54
6,266.95
+1.30
CAC 40
4,513.92
+1.28
BEL-20
3,501.00
+18.00
+0.05%
+0.02% +0.03%
+0.52%
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TOP GAINERS
HINDALCO INDUS.
+12.02%
TATA MOTORS LTD.
+4.30%
COAL INDIA LTD.
+4.00%
TATA POWER CO.
+3.51%
HERO MOTOCORP
+3.16%
TOP LOSERS
BHARAT HEAVY ELE
-5.78%
TATA STEEL
-2.20%
ZEE ENTERTAINMENT LTD.
-2.10%
MARUTI SUZUKI INDIA
-1.81%
HDFC
-1.72%
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TEHNICAL & DERIVATIVE REPORT May 31, 2016
NTPC “NTPC Q4 profit falls 8% to Rs 2716 cr, revenue misses estimates”
KEY VALUE
Support 1- 135 Support 2- 132
Resistance1- 142 Resistance 2- 145
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TEHNICAL & DERIVATIVE REPORT May 31, 2016
TATA MOTORS
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“Tata Motors Q4 profit seen up 109%, standalone loss may narrow “
KEY VALUES
SUPPORT 1- 415
RESISTANCE 1 -425
SUPPORT 2- 409
RESISTANCE 2- 432
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TEHNICAL & DERIVATIVE REPORT May 31, 2016
DISCLAIMER The information contained here was gathered from sources deemed reliable however; no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in equity trading and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. SAI PROFICIENT INVESTMENT ADVISORS does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Sai Proficient Investment Advisors.
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