Professional Documents
Culture Documents
KEY VALUE
SUPPORT 1- 7701.50
RESISTANCE1- 7760.50
SUPPORT 2- 7660.00
RESISTANCE 2- 7800.00
OBSERVATION
Nifty closed at 7733.45 with a loss of (-2.05) points. On the daily chart the
index has formed a BEARISH 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 7770 level it would witness buying which would lead the
index towards 7800-7840 levels.However if index breaks below 7700 level it
would witness selling which would take the index towards 7670-7640 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 7770. If NIFTY trades above
this level then we may witness a further rally up to 7800-7840 levels.
However, if NIFTY trades below 7700 levels then we may see some loss
booking initiating in the market, which may correct up to 7 level.7640-7630.
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
KEY VALUE
Support 1- 16200
Resistance1- 16385
Support 2- 16050
Resistance 2- 16425
MARKET INDICATORS
ASIA MARKET:Index
Straits Times
Hang Seng
SSE Composite
Index
(Shanghai)
Nikkei 225
Last Traded
Change
2,730.80
-37.01
-1.34%
20,109.87
-339.95
-1.66%
2,913.25
-84.59
-2.82%
16,106.72
-40.66
-0.25%
AMERICA :Index
Last Traded
Change
Dow
JONES
17,740.63
+79.92
S&P500
2,057.14
+6.51
Nasdaq
4,736.16
+19.07
+0.45%
+0.32%
+0.40%
EUROPE :Index
Last Traded
Change
9,869.95
+18.09
FTSE 100
6,125.70
+8.45
CAC 40
4,301.24
-18.22
BEL-20
3,290.00
DAX
-30.00
+0.18 %
+0.14 %
-0.42 %
-0.90%
TOP GAINERS
IDFC L
+11.69 %
+6.85%
EMAMI LTD.
+6.20%
KARNATAKA BANK
+5.90 %
VOLTAS LTD.
+5.47%
TOP LOSERS
-4.79 %
HEXAWARE TECHNOLOGIE
-4.51%
WOCKHARDT LTD.
-3.62%
-2.86%
IIFL HOLDINNGS
-2.85%
WOCKHARDT
Wockhardt Q4 net up 26% at Rs 43 cr; to raise Rs 1,200 cr
KEY VALUE
Support 1- 930
Resistance1- 945
Support 2- 920
Resistance 2- 953.50
BHARTI AIRTEL
Bharti Airtel to divest 950 towers in Africa, gains 2%
KEY VALUES
SUPPORT 1- 350
RESISTANCE 1 -356
SUPPORT 2- 345
RESISTANCE 2- 360
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