JUNE 20, 2016
TEHNICAL & DERIVATIVE REPORT JUNE 20, 2016
SENSEX (26525.46) /NIFTY (8140.75) “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 +2.50 points at 8,156.50 at the time of market closed. Asian market, and Europe market trading grren ,and America market trading red.
2
KEY VALUE SUPPORT 1- 8130
RESISTANCE1- 8175
SUPPORT 2- 8100
RESISTANCE 2- 8210
.
OBSERVATION
Nifty closed at 8170.20 with a gain of (+29.45) 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 8175 level it would witness buying which would lead the index towards 8210-8250 levels.However if index breaks below8130 level it would witness selling which would take the index towards 8100-8970 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 8175. If NIFTY trades above this level then we may witness a further rally up to 8200-8245 levels. However, if NIFTY trades below 8130 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.8100-8970. 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.
3
TEHNICAL & DERIVATIVE REPO JUNE 20, 2016
NIFTY BANK OUTLOOK- (17696.05) 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 17150-17450 range which is 127% reciprocal retracement of the previous corrective move from 16400 to 16285. 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 16997and 17100whereas resistance are seen around 17900.
4
KEY VALUE Support 1- 17600
Resistance1- 17750
Support 2- 17480
Resistance 2- 17900
MARKET INDICATORS
ASIA MARKET:Index
Last Traded
Change
Straits Times
2,763.42
+11.86
+0.43%
Hang Seng
20,169.98
+131.56
+0.66%
SSE Composite Index (Shanghai)
2,885.10
+12.28
+0.43%
Nikkei 225
15,599.66
+165.52
+1.07%
5
AMERICA :-
Index Dow JONES
Last Traded
Change
17,642.15 -90.95
-0.51%
S&P500
2,066.29
-11.70
-0.56%
Nasdaq
4,796.15
-48.77
-1.01%
EUROPE :Index
CAC40
FTSE 100
Change
Last Traded 4,193.83
6,021.09
+40.82
+0.98%
+70.61
+1.19%
DAX
9,631.36
+80.89
+0.85%
BEL-20
3,338.00
0..00
0.00%
6
TOP GAINERS
UNITECH LTD.
+15.75%
DENA BANK
+12.88%
CENTRALBANK
+12.73%
MAX FINANCIAL SERVIC
+10.29%
SREI INFRASTRUCTURE
+7.69%
TOP LOSERS
SHREE RENUKA SUGARS
-4.61%
POLORIS CONSULTING
-4.10%
TATA POWER CO.
-3.41%
CEAT LTD.
-3.25%
IIFL HOLDING
-2.76%
7
TEHNICAL & DERIVATIVE REPORT JUNE 20, 2016
TCS LTD. “TCS shareholder seeks 'sikkas', Mistry says board to consider”
KEY VALUE
Support 1- 2580
Resistance1- 2640
Support 2- 2530
Resistance 2- 2685
8
TEHNICAL & DERIVATIVE REPORT JUNE 20, 2016
CIPLA LTD. “Cipla in pact with Russian firm for HIV, Hepatitis C drugs”
KEY VALUES SUPPORT 1- 480
RESISTANCE 1 - 502
SUPPORT 2- 472
RESISTANCE 2- 516
9
TEHNICAL & DERIVATIVE REPORT JUNE 20, 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.
10