A Sharekhan technical research newsletter For 30, 2016 Punter s Call Bulls say happy weekend Market on 27, 2016: Support at 8040 The Nifty opened on a flat note and ended the trading session near the high point of the day. The Nifty broke, a couple of days ago and since then it has been gaining momentum on the upside. The Nifty is trading in a channel and is currently at the higher end of the channel. Hence, some consolidation or profit booking is likely, but the Nifty is in an uptrend, so every dip shall be seen as a buying opportunity. Moreover, the Nifty is making higher tops and higher bottoms indicating uptrend in the short term. On the downside 8080 8040 will act as a support zone, whereas on the upside 8180 8240 will act as a resistance. The Bank Nifty after breaking 17030 levels, which was its previous swing high, has seen good momentum on the upside. The Bank Nifty is also in a strong uptrend and continues to make higher tops and higher bottoms. On the upside, Bank Nifty may face resistance at 17652 17842 level whereas on the downside, 17302 1 will act as a strong support. Overall, Nifty and Bank Nifty are in a strong uptrend, however some consolidation is likely. We maintain our bullish stance on Nifty for the target of 8336 in the short term. Other technical observations On the daily chart, the index is trading above the 20-day moving average (DMA) and the 40-DMA, ie 7842 and 7794 respectively. The momentum indicator is in the positive mode on the daily chart. On the hourly chart, the Nifty is trading above the 20- hour moving average (HMA) and the 40-HMA, ie 8014 and 7949 respectively. The hourly momentum indicator has turned negative. The market breadth was positive with 910 advances and 635 declines on the National Stock Exchange. Nifty daily: 8,157 4.5 4.0 - -4.0-4.5-5.0 8550 8500 8450 8400 8350 6700 5 12 19 26 2 9 16 23 30 7 14 21 28 4 October November December 2016 60-minute - 8 15 22 29 KST (2.25293) 4.5 4.0 - -4.0-4.5-5.0 - NSE50 [NIFTY] (8,081.95, 8,164.20, 8,077.05, 8,149.35, +71.3999) 8550 8500 8450 8400 8350 6700 11 18 25 1 8 15 22 29 8 14 21 28 4 11 18 25 2 9 16 23 30 6 13 June KST (6065) - - NSE50 [NIFTY] (8,145, 8,164.20, 8,141.35, 8,149.35, +6.89990) 8 14 21 28 4 11 18 25 2 9 16 23 29 Market breadth BSE NSE Advances 1,488 910 Decline 1,222 635 Unchanged 209 62 Volume (Rs) 3,359 Cr 21,135 Cr For Private Circulation only REGISTRATION DETAILS Registered Office: Sharekhan Limited, 10th Floor, Beta Building, Lodha ithink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai 400042, Maharashtra. Tel: 022-61150000. Sharekhan Ltd.: SEBI Regn. Nos.: BSE: INB/INF011073351 / BSE-CD ; NSE: INB/INF/INE231073330 ; MSEI: INB/INF261073333 / INE261073330 ; DP: NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/TCM/CORP/0425) ; NCDEX-00132 ; (NCDEX/TCM/CORP/0142) ; NCDEX SPOT-NCDEXSPOT/116/CO/11/20626 For Private Circulation only Eagle Eye 1 ; For any complaints email at igc@sharekhan.com ; Disclaimer: Client should read the Risk Disclosure Document issued by SEBI & relevant exchanges and Do s & Don ts by MCX & NCDEX and the T & C on www. 30, 2016 sharekhan.com before investing.
Looking Trendy Short Term Trend Index Target Trend Reversal Support / Resistance Sensex 27618 Down Below 25430 25430/27618 Nifty 8336 Down Below 7809 7809/8336 Medium Term Trend Index Target Trend Reversal Support / Resistance Sensex 27618 Down Below 24354 27618/24354 Nifty 8336 Down Below 7405 7405/8336 Icon guide Up Down Sideways Downswing matures Upswing matures Trendy Levels for Tomorrow Sensex Nifty Support Resistance Support Resistance 26471 2 8080 8180 26100 27131 8040 8245 25927 27442 7992 8295 20 DSMA 40 DEMA 20 DSMA 40 DEMA 25593 25471 7842 7794 BSE Sensex: 26,653 Nifty: 8,157 For Private Circulation only Eagle Eye 2 30, 2016
Smart Charts Date Scrip Name Action Stop Loss ( On closing Basis ) Buy Price/ Sell Price Call Closing Price/ CMP Potential% P/L at Exit/ Current Target 1 Target 2 26--16 BEL June Fut Buy Book Profit 1,130 1,198.35 6.05% 1,206.00 1,245.00 25--16 Apollo Tyres June Fut Buy 147.90 152.85 158.00 3.37% 164.00 170 NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing ba sis unless specified. TPB: Trailing profit booked Momentum Cash Ideas For the short term 1 to 10 days Action Date Stock Action Stop Loss/ Price TPB: Trailing profit booked NOTE: Action taken after market hours will be highlited in blue colour. Rules for momentum calls: 1) The stop loss should be placed after 9.17am in order to avoid freak trade 2) The same will be revised in the TradeTiger terminal every day for the pop-ups Closing Price Potential % P/L at CMP Target1 Target 2 26--16 Persistent Buy 715.00 731.75 730 0.24% 750 765.00 26--16 BEL Buy Book Profit 1,120.70 1,155.00 6% 1,157.00 1,175.00 24--16 Network18 Buy 40 41.65 41.75 0.24% 40 44.00 23--16 Rajesh exports Buy 545.00 560.45 552.65-1.39% 578.00 595.00 For Private Circulation only Eagle Eye 3 30, 2016
Short Term Trend 20500 20000 19500 19000 18500 Bank Nifty Support: 17302/1 Resistance: 17652/17842 1 1 1 16500 16000 15500 15000 14500 14000 13500 13000 27 3 10 17 24 31 7 14 21 28 5 12 19 26 2 9 16 23 30 7 14 21 28 4 11 18 25 1 8 15 22 29 8 14 21 28 4 11 18 25 2 9 16 23 30 6 August September October November December 2016 June 13 For Private Circulation only Eagle Eye 4 30, 2016
Day Trader s Hit List For 30, 2016 Scrip Name Support Levels Close Resistance Levels S2 S1 (Rs) R1 R2 Action NIFTY Futures 804 812 817 823 834 Go Long AboveR1 / Go Short Below s1 Bank Nifty Futures 1710 1736 17495.0 1770 Go Long AboveR1 / Go Short Below s1 Axis Bank 496.1 507.0 512.4 517.0 53 Go Long AboveR1 / Go Short Below s1 BHEL 123.9 126.8 128.1 129.5 132.6 Go Long AboveR1 / Go Short Below s1 BPCL 97 100 101 1024.0 105 Go Long AboveR1 / Go Short Below s1 INFOSYS 1205.0 1235.0 1247.5 126 1285.0 Go Long AboveR1 / Go Short Below s1 ICICI Bank 233.6 240.9 243.2 245.8 252.6 Go Long AboveR1 / Go Short Below s1 LIC Housing 444.0 458.1 46 466.4 480.1 Go Long AboveR1 / Go Short Below s1 LNT 1430.1 146 1474.9 149 152 Go Long AboveR1 / Go Short Below s1 Reliance Industries 94 965.0 974.7 98 1007.0 Go Long AboveR1 / Go Short Below s1 SBI 189.0 193.7 195.9 197.6 202.6 Go Long AboveR1 / Go Short Below s1 SunPharma 795 816 825.0 833 854 Go Long AboveR1 / Go Short Below s1 Tata Motors 392.1 400.1 403.9 406.6 415.6 Go Long AboveR1 / Go Short Below s1 Yes Bank 99 1018.0 1025.5 1035.0 106 Go Long AboveR1 / Go Short Below s1 TISCO 32 326.1 329.6 33 338.0 Go Long AboveR1 / Go Short Below s1 TCS 249 255 2572.7 260 265 Go Long AboveR1 / Go Short Below s1 *Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE SL=Stoploss To know more about our products and services click here. 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