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Bulls Get The Better Of Bears As Nifty Extends Its Solid Run

Today's Action:

The major stock indices moved higher, for a fifth straight session. Broader indices ended mixed.

Current Outlook:

- Market environment conducive for new purchases, but remain selective.

- Focus on fundamentally strong stocks breaking out of strong technical patterns.

- Stay disciplined and exercise sound buy and sell rules.

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2017 William O'Neil India Private Limited. All Rights Reserved.


Daily Market Review

Tracking positive global cues, the benchmark indices extended their winning streak to fifth
consecutive sessions. However, the key indices remained range bound, for most part of the day.
Trading volumes have been lower in the last three session.

The Nifty started the day at 10,350.80 and gained 0.15% to end at 10,342.30. It traded in the range
of 10,309.55-10,368.70. The BSE Sensex started the day at 33,561.55 and gained 0.25% today. After
trading in the range of 33,465.23-33,654.53 it ended the day at 33,561.50.

Broader indices witnessed mixed action today as the Nifty Small Cap index gained 0.52% while the
Midcap dropped 0.02%.The Nifty Small cap index closed in positive territory, for the fifth straight
session today.

The market breadth, which indicates the overall health of the market, was in favor of losers today.
On the NSE, 680 stocks advanced and 804 stocks declined. A total of 44 stocks remain unchanged.

Sectoral indices too depicted a mixed trend. Nifty Media (+2.61%), PSU Bank (+1.26%), and FMCG
(+0.36%) were among the top-performing sector; whereas on the downside Nifty Pharma (-0.73%),
Metal (-0.66%), and Pvt Bank (-0.32%) were the top-three losers.

The MarketSmith IND 47 Index, our proprietary lists of the top 47 stocks in technical chart and
fundamental chart, gained 0.88% today, outperforming the major indices.

Among the major news, footwear and leather stocks were in limelight today, on hopes of incentive
package from the Indian government. Stocks namely Superhouse, Relaxo Footwear, Mirza
International, Bata India, Liberty Shoes, and Khadims India were up in the range of 2-9% intraday.
According to sources, the Union Cabinet is expected to take a decision and approve a package of INR
2,500 crores for the industry. The package is to promote the adoption of modern technology and
boost the exports from the leather and fashion sector.

Today, both the benchmark indices witnessed lower trading volume, in comparison with Tuesday's
session. The distribution day count remains at three on the Nifty, while two on the Sensex.The
Indian market remains in Confirmed Uptrend.

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2017 William O'Neil India Private Limited. All Rights Reserved.