April 22, 2016
 TEHNICAL & DERIVATIVE REPORT
APRIL 22,2016
SENSEX ( 25880.38) /NIFTY (7912.05 ) Nifty may open in red tracking global cues Indian benchmark indices are likely to open in red with the market indicator SGX Nifty trading -30.50 points at 7,904.50 at the time of market closed. Asian market is trading upside along with America market but Europe market falls today.
KEY VALUE SUPPORT 1- 7864.77
RESISTANCE1- 7942.62
SUPPORT 2- 7814.83
RESISTANCE 2- 7970.53
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OBSERVATION
Nifty closed at 7912.05 with a loss of (-2.70) points. On the daily chart the index has formed a Bullish candle indicating positive 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 7940 level it would witness buying which would lead the index towards 7980-8040 levels.However if index breaks below 7880 level it would witness selling which would take the index towards 7840-7820 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 7940. If NIFTY trades above this level then we may witness a further rally up to 7980-8040 levels. However, if NIFTY trades below 7880 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7840-7820.
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TEHNICAL & DERIVATIVE REPORT APRIL 22,2016
NIFTY BANK OUTLOOK- (16637.15) On Thursday session, the index had given a flat opening followed up with positive momentum throughout the session. The “HANGING MAN” pattern formed during the previous week on weekly charts has been negated as the index has managed to cross the high on Wednesday, thus indicating bulls taking control back in their favor. If the index manages to continue its momentum, then it could rally up to 16500-16550 range which is 127% reciprocal retracement of the previous corrective move from 16283 to 15440. 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 16140 and 15975 whereas resistance are seen around 16390 and 16510.
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KEY VALUE Support 1- 16046.22
Resistance1-16364.87
Support 2- 15869.73
Resistance 2-16057.03
MARKET INDICATORS ASIA MARKET:-
Index Straits Times Hang Seng
Last Traded 2,960.78
Change +10.83
+0.37 %
21,622.25 +385.94
+1.82 %
SSE Composite Index (Shanghai)
2,952.89
Nikkei 225
17,363.62
-19.69
-0.66%
+457.08 +2.70%
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AMERICA :-
Index
Last Traded
Change
Dow JONES
18,096.27
+42.67
+0.24%
S&P500
2,102.40
+1.60
+0.08%
Nasdaq
4,948.13
+7.80
-0.16%
Europe :Index
Last Traded
Change
310,404.76
-24.44
FTSE 100
6,371.56
-38.70
-0.60%
CAC 40
4,567.48
-16.53
-0.16%
BEL-20
3,433.00
+17.50
+0.51%
DAX
-0.53%
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TOP GAINERS
Amtek Auto ltd.
+8.52 %
Future Retail
+6.89 %
DCB Bank
+6.51 %
Vendata
+6.26 %
Hind.Copper
+5.10%
TOP LOSERS
Prestige Estates Pro
-4.56%
Wipro Ltd.
-7.01 %
Page Industries Ltd.
4.66 %
Network 18 Media & I
-4.49 %
Crisil
-4.38 %
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TEHNICAL & DERIVATIVE REPORT APRIL 22,2016
Glenmark pharma “Glenmark receives 3 observations from USFDA for Indore plant”
KEY VALUE
Support 1- 783.47
Resistance1-805.72
Support 2- 774.18
Resistance 2-818.68
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TEHNICAL & DERIVATIVE REPORT APRIL 22,2016
Indusind Bank “IndusInd Bank Q4 net up 25% at Rs 620 cr; asset quality falls”
KEY VALUES
SUPPORT 1- 975.28
RESISTANCE1-990.68
SUPPORT 2- 966.72
RESISTANCE 2- 997.52
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
TEHNICAL & DERIVATIVE REPORT APRIL 22, 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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