JULY 11, 2016
TEHNICAL & DERIVATIVE REPORT JULY 11, 2016
SENSEX (27126.90) /NIFTY (8323.20) “Nifty may open in RED indicating domestic market cues” Indian benchmark indices are likely to open in flat with the market indicator SGX nifty trading -34.50 points at 8,335.00 at the time of market closed. Asian market, and America market trading red but Europe market trading green.
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KEY VALUE SUPPORT 1- 8300
RESISTANCE1- 8370
SUPPORT 2- 8260
RESISTANCE 2- 8400
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OBSERVATION
Nifty closed at 8323.20 with a loss of (-14.70) points. On the daily chart the index has formed Bullish candle indicating positive bias.The index is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained down trend. The chart pattern suggests that if Nifty crosses and sustains above 8370 level it would witness buying which would lead the index towards 8400-8440 levels.However if index breaks below 8300 level it would witness selling which would take the index towards 8260-8230 Nifty 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 8370. If NIFTY trades above this level then we may witness a further rally up to 8400-8440 levels. However, if NIFTY trades below 8300 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.8270-8240. STRATEGY :NIFTY is looking Bearish 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 JULY 11, 2016
NIFTY BANK OUTLOOK- (18016.25) 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 Monday, thus indicating bulls taking control back in their favor. If the index manages to continue its momentum, then it could rally up to 17550-17650 range which is 127% reciprocal retracement of the previous corrective move from 16800 to 16600. 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 16252 and 17420 whereas resistance are seen around 18150.
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KEY VALUE Support 1- 17940
Resistance1- 18140
Support 2- 17850
Resistance 2- 18200
MARKET INDICATORS
ASIA MARKET:Index
Last Traded
Change
Straits Times
2,835.61
-26.56
-0.93%
Hang Seng
20,520.99
-185.93
-0.90%
SSE Composite Index (Shanghai)
2,988.09
-28.76
-0.95%
Nikkei 225
15,106.98
-169.26
-1.11%
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AMERICA :-
Index Dow JONES
Last Traded
Change
17,895.88 -22.74
-0.13%
S&P500
2,097.90
-1.83
-0.09%
Nasdaq
4,876.81
+17.65
+0.36%
EUROPE :Index
CAC40
Change
Last Traded 4,119.11
+1.26
+0.03%
+0.32%
FTSE 100
6,554.86
+21.07
DAX
9,418.78
+45.52
+0.49%
BEL-20
3,254.16
-3.61
-0.11%
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TOP GAINERS
BF UTILITIES LTD.
+6.68%
CADILA HEALTHCARE
+4.81%
IL&FS TRANSPORTATION
+4.79%
COROMANDEL INTERNATI
+4.74%
TUBE INVESTMENTS
+4.05%
TOP LOSERS
JAYPEE INFRATECH LTD.
-6.60%
JAIPRAKASH ASSOCIATES
-5.56%
PUNJ LIOYD
-4.19%
JAIPRAKASH POWER YEN
-3.63%
UNITECH LTD.
-3.53%
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TEHNICAL & DERIVATIVE REPORT JULY 11, 2016
TATA STEEL ͞Tata Steel to not exit UK, may consider sale of specialty units ͟
KEY VALUE
Support 1- 312
Resistance1- 325
Support 2- 307
Resistance 2- 330
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TEHNICAL & DERIVATIVE REPORT JULY 11, 2016
IDEA ͞ Telecom stocks dive up to 4% on DoT demand notice worries ͟
KEY VALUE
Support 1- 100
Resistance1- 104
Support 2- 97
Resistance 2- 107
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TEHNICAL & DERIVATIVE REPORT JULY 11, 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 Advisor.
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