AUG 16,2016
TEHNICAL & DERIVATIVE REPORT AUG 16, 2016
SENSEX (28152.40) /NIFTY (8672.15) “Nifty may open in green indicating domestic market cues� Indian benchmark indices are likely to open in flat with the market indicator SGX nifty trading +98.50 points at 8,702.50 at the time of market closed. Asian market trading red but America market and Europe market trading red.
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KEY VALUE SUPPORT 1- 8640
RESISTANCE1- 8704
SUPPORT 2- 8605
RESISTANCE 2- 8745
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OBSERVATION Nifty closed at 8672.15 with a gain of (+80.00) 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 8705level it would witness buying which would lead the index towards 8745-8780 levels.However if index breaks below 8640level it would witness selling which would take the index towards 8600-8560 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 8705. If NIFTY trades above this level then we may witness a further rally up to 8745-8760 levels. However, if NIFTY trades below 8630 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.8600-8570. 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 AUG 16, 2016
NIFTY BANK OUTLOOK- (18963.70) .154) 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 19120.
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KEY VALUE Support 1- 18870
Resistance1- 19005
Support 2- 18800
Resistance 2- 19150
MARKET INDICATORS
ASIA MARKET:Index
Last Traded
Change
Straits Times
2,867.40
-2.42
-0.08%
Hang Seng
22,766.91
+186.36
+0.83%
SSE Composite Index (Shanghai)
3,050.67
+48.03
+1.60%
Nikkei 225
16,919.92
+184.80
+1.10%
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AMERICA :-
Index
Last Traded
Change
Dow JONES
18,613.52
S&P500
2,185.79
+10.30
+0.47%
Nasdaq
5,228.40
+23.82
+0.46%
+117.86
+0.64%
EUROPE :Index
CAC40
Change
Last Traded 4,501.28
-2.67
-0.06%
FTSE 100
6,914.21
-0.50
-0.01%
DAX
10,723.76
-19.08
-0.18%
BEL-20
3,547.01
+11.62
+0.33%
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TOP GAINERS
BANK OF INDIA
+10.25%
SBIN
+7.16%
JUBLIANT LIFE SCIENCE
+6.89%
INDIA BANK
+6.35%
LIC HOUSING FIN.
+5.94%
TOP LOSERS
ADITYA BIRLA NUVO
-17.60%
WOCKHARDT LTD.
-6.54%
BAJAJ ELECTRICAL
-5.10%
UNITED BREWERIES LTD
-4.95%
THERMAX
-4.34%
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TEHNICAL & DERIVATIVE REPORT AUG 16, 2016
SBIN “SBI Q1 profit down 32%, fresh slippages dip sharply to Rs 8790cr”
KEY VALUE
Support 1-239
Resistance1- 248
Support 2- 235
Resistance 2- 252
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TEHNICAL & DERIVATIVE REPORT AUG 16, 2016
HINDALCO “Hindalco Q1 profit jumps 5-fold to Rs 294 cr, revenue falls 11% ”
KEY VALUE
Support 1-144
Resistance1-148
Support 2- 142
Resistance 2-150
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TEHNICAL & DERIVATIVE REPORT AUG 16, 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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