SAI PROFICIENT RESEARCH DAILY EQUITY REPORT
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{DAILY EQUITY REPORT (18/4/2016)}
MARKET OUTLOOK
More rate cuts on lower inflation, good monsoon, says Raghuram Rajan Reserve Bank of India may further lower the interest rate if inflation continues to ease and the monsoon turns out to be good, Governor Raghuram Rajan has said. "We are looking at inflation. If it continues on a downward path, that would create room (for further rate cuts)," The first and foremost among them would be the kick-start of March quarter earnings with Infosys' results on Friday. The IT pack is expected to report a modest revenue growth of 2-3.9 per cent (in constant currency terms) in an otherwise traditionally weak quarter, with Infosys or HCL Tech topping the chart. Experts believe that Infosys would keep its underlying strong momentum intact, while they expect ramp-ups for HCL Technologies on large deals. PVR recently launched Superplex in Noida, a grand multiplex with 15 screens which includes various international formats like IMAX screen, 4DX Screen and a dedicated screen for the children. Axis bank , the country's third largest private sector lender has cut its base rate by 5 basis points bringing it down to 9.45 percent, the first public lender to do so post the RBI policy. India's Tata Steel and Germany's Thyssenkrupp are holding high-level talks on the possibility of combining their European steel operations in a joint venture, but are also looking at other options, German daily Rheinische. Coal India cuts prices on global cues. Price cut is first time in last 3 years. It slashes prices of top-grade coal by upto 40 percent. It has more than adequate production & stock in pile.
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NIFTY50 “NSE NIFTY GAINED TO HOLD 7792.50 LEVEL IN TRADE TODAY, UP (+67.75) POINTS CLOSE AT 7867.85…. Breakout! Nifty50 breaks above 200-DEMA, forms long bull candle MARKET OUTLOOK: - A long bullish candle and crossing of the 200-DEMA
are positive signs for the bulls. The upward move in the market was led by positive comments from the IMF and good rain forecast from the India Meteorological Department (IMD).
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OBSERVATION:Nifty closed at 7867.85with a GAIN of (+67.75) 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 7875 level it would witness buying which would lead the index towards 7886.107921.75 levels.However if index breaks below 7840 level it would witness selling which would take the index towards 7793.50-7736.55 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 7875. If NIFTY trades above this level then we may witness a further rally up to 7886.10-7921.75 levels. However, if NIFTY trades below 7840 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7793.50-7736.55.
DATE
INDEX
OPEN
CLOSE
18-4-2016
Nifty
7792.50
7867.85
SUPPORT2 7736.55
SUPPORT 1 7793.50
HIGH 7893.45
RESISTANCE 1 7886.10
LOW 7791.10
RESISTANCE 2 7921.75
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BANK NIFTY More rate cuts on lower inflation, good monsoon, says MR.Raghuram Rajan MARKET OUTLOOK: Reserve Bank of India may further lower the interest rate if
inflation continues to ease and the monsoon turns out to be good, Governor Raghuram Rajan has said. "We are looking at inflation. If it continues on a downward path, that would create room (for further rate cuts),"
DATE
INDEX
OPEN
CLOSE
18-4-2016
Bank nifty
16131
16332.75
SUPPORT 2 SUPPORT1 15967.12
16122.83
HIGH 16416
LOW 16085.10
RESISTANCE1
RESISTANCE2
16391.98
16505.42
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AXIS BANK Axis cuts base lending rate, CEO says won't impact margins MARKET OUTLOOK: - , The country's third largest private sector lender has cut its base rate by 5 basis points bringing it down to 9.45 percent, the first public lender to do so post the RBI policy.
DATE
STOCK
CMP
OPEN
CLOSE
18-4-2016
AXIS BANK
439.50
440.05
440.50
SUPPORT 2 434.10
SUPPORT1 437.30
RESISTANCE1 444.50
HIGH 445.30
LOW 438.10
RESISTANCE2 448.50
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TATA STEEL Tata, Thyssen in high level talks on European steel JV India's Tata Steel and Germany's Thyssenkrupp are holding highlevel talks on the possibility of combining their European steel operations in a joint venture, but are also looking at other options, German daily Rheinische. MARKET OUTLOOK; -
DATE
STOCK
CMP
OPEN
CLOSE
HIGH
LOW
18-4-2016
TATA STEEL
332.55
327.50
332.85
336.20
326
SUPPORT 2 SUPPORT1 321.48
327.17
RESISTANCE1 337.37
RESISTANCE2 341.88
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TATA MOTORS . Tata Motors is JLR sales in March exceed expectations. JLR closed FY16 with total sales of 544,000 versus guidance of 500,000. Jaguar sales up 33 percent at 102,000 in FY16. Biggest Jaguar model, F Pace is yet to be launched. FY17 set to be a strong year for JLR. MARKET OUTLOOK: -
DATE
STOCK
CMP
OPEN
CLOSE
HIGH
LOW
18-4-2016
TATA MOTORS
408.65
400
408.75
411.75
398.15
SUPPORT 2 SUPPORT1 392.62
400.68
RESISTANCE1 414.28
RESISTANCE2 419.82
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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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