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{DAILY EQUITY REPORT (18/3/2016)}
SAI PROFICIENT RESEARCH DAILY EQUITY REPORT
18-3-2016 INFO@SAIPROFICIENT.COM SUPPORT@SAIPROFICIENT.COM
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{DAILY EQUITY REPORT (18/3/2016)}
MARKET OUTLOOK
BANK NIFTY closed with( -17.70) at 15,444. NIFTY closed with (+13.80) at 7512. HDFC bank launched dedicated product for start –ups. CII survey ranks VEDANTA among top 10 sustainable firms. Crompton Greaves-Consortium wins contract for EnBW Hohe See offshore
wind
farm
Scope
of
work
includes
design,
manufacturing, installation of HV/MV equipments Scope of work includes control & protection system for the wind farm. TATA group Titan Company ltd.today declared interim dividend of Rs 2.20 per fulls paid equity share of Rs.1 each . Drug major “SUNPHARMA CEUTICAL”industries plans to buy back shares worth USD 250 million.
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{DAILY EQUITY REPORT (18/3/2016)}
NIFTY50 NIFTY SET FOR BIG RALLY ON FED’S DOVISH TONE NIFTY are likely to gap up on Thursday after the US FEDERAL RESERVE struck a dovish tone at the end of its two-day meeting that concluded yesterday NSE Nifty gained to hold 7749.20 level in trade today, down (+13.80)points to 7512 at close.
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{DAILY EQUITY REPORT (18/3/2016)}
OBSERVATION:Nifty closed at 7512 with a gain of +13.80 points. On the daily chart the index has formed a bearish 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 7520 level it would witness buying which would lead the index towards 7580-7640 levels.However if index breaks below 7500 level it would witness selling which would take the index towards 7450-7400Nifty 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 upwards and above its reference line indicating positive 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 7500. If NIFTY trades above this level then we may witness a further rally up to 75407595-7640 levels. However, if NIFTY trades below 7495 levels then we may see some profit booking initiating in the market, which may correct up to 7440-7395-7340 level.
Date
Index
Open
Close
17-3-2016
Nifty
7588
7512
High 7601.95
Low 7487.10
SUPPORT2
SUPPORT 1 RESISTANCE 1
RESISTANCE 2
7480
7500
7540
7525
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{DAILY EQUITY REPORT (18/3/2016)}
BANK NIFTY Bank Nifty unlikely to outperform nifty50
Date
Index
Open
Close
High
Low
17-3-2016
Bank Nifty
15661
15444
15479
15326.50
SUPPORT 2
SUPPORT 1
RESISTANCE 1
RESISTANCE 2
15400
15430
15460
15490
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{DAILY EQUITY REPORT (18/3/2016)}
HDFC BANK HDFC bank launched dedicated product for start up
Date
Stock
CMP
Open
Close
High
Low
17-3-2016
HDFC BANK
1016.75
1034.95
1018.40
1039
1011
SUPPORT 2 SUPPORT1 1000
1010
RESISTANCE1 1025
RESISTANCE2 1040
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{DAILY EQUITY REPORT (18/3/2016)}
VEDANTA CII survey ranks VEDANTA among top 10 sustainable firms
Date
Stock
CMP
Open
Close
High
Low
17-3-2016
VEDANTA
85.70
88.70
86.25
89.70
85.55
SUPPORT 2 84
SUPPORT 1 85.50
RESISTANCE 1 86.10
RESISTANCE 2 87.50
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{DAILY EQUITY REPORT (18/3/2016)}
TITAN COMPANY TATA group Titan Company ltd.today declared interim dividend of Rs 2.20 per full’s paid equity share of Rs.1 each
Date
Stock
CMP
Open
Close
High
Low
17-3-2016
TITAN CO.
338.90
343.50
339.50
343.90
337.70
SUPPORT 2
SUPPORT 1
RESISTANCE 1
RESISTANCE 2
330
335
340
345
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{DAILY EQUITY REPORT (18/3/2016)}
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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