April 29, 2016
TEHNICAL & DERIVATIVE REPORT APRIL 29, 2016
SENSEX ( 26064.12) /NIFTY (7847.25) “Nifty may open in red opening global cues” Indian benchmark indices are likely to open in red with the market indicator SGX nifty trading -142.50 points at 7,847.00 at the time of market closed. Asian market is trading down and Europe market mixed today and America market gain today.
2

KEY VALUE SUPPORT 1- 7815.30
RESISTANCE1- 7872.50
SUPPORT 2- 7760.00
RESISTANCE 2- 7920.35
.
OBSERVATION Nifty closed at 7847.55 with a gain of (-132.65) points. On the daily chart the index has formed a 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 7880 level it would witness buying which would lead the index towards 8040-8070 levels.However if index breaks below 7800 level it would witness selling which would take the index towards 7760-7720 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 7880. If NIFTY trades above this level then we may witness a further rally up to 8040-8070 levels. However, if NIFTY trades below 7820 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7760-7740.
STRATEGY :NIFTY is looking bearish 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 REPORT APRIL 29, 2016
NIFTY BANK OUTLOOK- (16716.90) On Friday session, the index had given a flat opening followed up with positive momentum throughout the session. The “red candle” 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 17040 and 16846 whereas resistance are seen around 17040 and 17160
4

KEY VALUE Support 1- 16700.50
Resistance1- 17040
Support 2- 16640.00
Resistance 2- 17160
MARKET INDICATORS
ASIA MARKET:Index Straits Times Hang Seng SSE Composite Index (Shanghai) Nikkei 225
Last Traded
Change
2,862.30
-12.42
-0.43 %
21,388.03
+26.43
+0.12 %
2,945.59
-8.08
16,666.05
-624.44
-0.27% -3.61%
5
AMERICA :Index
Change
Last Traded
Dow JONES
18,041.55
+51.23
S&P500
4,863.14
-25.14
Nasdaq
2,095.15
+3.45
+0.28% -0.51 % +0.16%
EUROPE :Index
Last Traded
Change
10,177.79
-122.04
-1.28 %
FTSE 100
6,266.63
-53.28
-0.84 %
CAC 40
4,501.20
-58.20
-1.28 %
BEL-20
3,388.50
-47
-1.37%
DAX
6

TOP GAINERS
Indiabulls Real Esta
+11.61 %
Ceat Ltd.
+4.69 %
KPIT Technologies
+4.41 %
HDIL
+3.86 %
Piramal Enterprises
+3.23%
TOP LOSERS
Jubilant Foodworks L
-10.25%
IDFC L
-6.35 %
Tata Elxsi Ltd.
-6.14 %
Gateway Distriparks
-5.37%
Hindalco Indus.
-4.77%
7
TEHNICAL & DERIVATIVE REPORT APRIL 29, 2016
DABUR INDIA “Dabur Q4 net seen up 10%, Nepal issue may hit volume growth”
KEY VALUE
Support 1- 264
Resistance1- 273
Support 2- 260
Resistance 2- 277
8
TEHNICAL & DERIVATIVE REPORT APRIL 29, 2016
TATA STEEL “Tata Steel UK not willing to split up assets to secure sale”
KEY VALUES
SUPPORT 1- 370
RESISTANCE 1 -377
SUPPORT 2- 365
RESISTANCE 2- 382
9

TEHNICAL & DERIVATIVE REPORT APRIL 29, 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