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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.

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KEY VALUE
SUPPORT 1- 7815.30

RESISTANCE1- 7872.50

SUPPORT 2- 7760.00

RESISTANCE 2- 7920.35

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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.
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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

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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%

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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

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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%

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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

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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

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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.

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