May 18, 2016
TEHNICAL & DERIVATIVE REPORT May 18, 2016
SENSEX ( 25773.61) /NIFTY (7890.75) “Nifty may open in up indicating global cues” Indian benchmark indices are likely to open in GREEN with the market indicator SGX nifty trading +29.50 points at 7,909.00 at the time of market closed. Asian market, America market ,Europe market trading up down.
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KEY VALUE SUPPORT 1- 7860
RESISTANCE1- 7925
SUPPORT 2- 7820
RESISTANCE 2- 7962
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OBSERVATION Nifty closed at 7890.75 with a gain of (+30.00) 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 7860 level it would witness buying which would lead the index towards 7900-7928 levels.However if index breaks below 7830 level it would witness selling which would take the index towards 7800-7780 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 7860 . If NIFTY trades above this level then we may witness a further rally up to 7900-7920 levels. However, if NIFTY trades below 7830 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7800-7780. 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 17, 2016
NIFTY BANK OUTLOOK- (16762.75) On Friday session, the index had given a flat opening followed up with positive momentum throughout the session. The “UP TREND” pattern formed during the previous week on weekly charts has been negated as the index has managed to cross the high on Thursday, thus indicating bulls taking control back in their favor. If the index manages to continue its momentum, then it could rally up to 17000-17100 range which is 127% reciprocal retracement of the previous corrective move from 16780 to 15560. 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 16200 and 16050 whereas resistance are seen around 17040 and 1716
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KEY VALUE Support 1- 16700
Resistance1- 16940
Support 2- 16640
Resistance 2- 17080
MARKET INDICATORS
ASIA MARKET:Index
Last Traded
Change
Straits Times
2,781.11
+45.05
Hang Seng
20,118.80
+234.85 +1.18%
SSE Composite Index (Shanghai)
2,843.68
-7.18
Nikkei 225
16,652.80
+186.40 +1.13%
+1.65%
-0.25%
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AMERICA :-
Index
Last Traded
Change
Dow JONES
17,710.71
+175.39
S&P500
2,066.66
+20.05
+0.98%
Nasdaq
4,775.46
+57.78
+1.22%
+1.00%
EUROPE :Index
DAX
FTSE 100
Change
Last Traded 9,957.36
6,182.94
+4.46
+0.04%
+31.54
+0.51%
CAC 40
4,314.42
+2.14
BEL-20
3,368.00
+29.50
+0.05%
+0.88%
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TOP GAINERS
SUN TV NETWORK LTD.
+10.11%
MOTHERSONSUMI SYSTEMS
+8.36%
SYNDICATE BANK
+5.36%
MONSANTO INDIA
+5.31%
PIRAMAL ENTERPRISES
+5.05%
TOP LOSERS
CASTROL INDIA
-4.50 %
SHREE RENUKA SUGARS
-3.88%
VAKRANGEE
-3.71%
FIRSTSOURCE SOLUTION SHREE CEMENT
-3.59% -3.29%
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TEHNICAL & DERIVATIVE REPORT May 17, 2016
MOTHERSON SUMI “Mother son Q4 net up 22% on EBITDA boost, topline misses forecast”
KEY VALUE
Support 1- 288
Resistance1- 294
Support 2- 284
Resistance 2- 299
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TEHNICAL & DERIVATIVE REPORT May 18, 2016
SBIN
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“ SBI looks to sell 5% stake in NSE, raise Rs 1k crore”
KEY VALUES
SUPPORT 1- 174
RESISTANCE 1 -178
SUPPORT 2- 171
RESISTANCE 2- 182
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TEHNICAL & DERIVATIVE REPORT May 18, 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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