May 2, 2016

2

“Nifty may open in red indicating global cues”

Indian benchmark indices are likely to open in red with the market

indicator SGX nifty trading -17.00 points at 7,892.50 at the time of

market closed. Asian market, Europe market and America market

trading down.

TEHNICAL & DERIVATIVE REPORT

May 2, 2016

SENSEX ( 25606.62) /NIFTY (7849.80)

3

KEY VALUE

SUPPORT 1- 7815.30 RESISTANCE1- 7872.50

SUPPORT 2- 7760.00 RESISTANCE 2- 7920.35

.

Nifty closed at 7849.80 with a gain of (+2.55) 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.

OBSERVATION

STRATEGY :-

NIFTY is looking bullish on a chart for next day. One can go for buy on lower level strategy for this

index for intraday to midterm positions.

4

On Friday session, the index had given a flat opening followed up with

positive momentum throughout the session. The “HAMMER” 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

TEHNICAL & DERIVATIVE REPORT

May 2, 2016

NIFTY BANK OUTLOOK- (16795.00)

5

KEY VALUE

Support 1- 16700.50 Resistance1- 17040

Support 2- 16640.00 Resistance 2- 17160

ASIA MARKET:-

MARKET INDICATORS

Index Last Traded Change

Straits Times 2,838.52 -23.78 -0.83 %

Hang Seng 21,067.05 -320.98 -1.50 %

SSE Composite Index (Shanghai) 2,938.32 -7.27 -0.25%

Nikkei 225 16,666.05 -624.44 -3.61%

6

AMERICA :-

Index Last Traded

Change

Dow

JONES 17,764.57 -66.19 -0.37%

S&P500 4,772.57 -32.72 -0.68%

Nasdaq 2,063.31 -12.50 -0.60%

EUROPE :-

Index Last Traded Change

DAX 10,038.97 -282.18 -2.73 %

FTSE 100 6,241.89 -80.51 -1.27 %

CAC 40 4,428.96 -128.40 -2.82 %

BEL-20 3,388.50 -47 -1.37%

7

Indiabulls Real Esta +6.46 %

Suzlon Energy Ltd. +5.27 %

Piramal Enterprises +4.92 %

Bata India +4.84 %

Balrampur Chini +4.79%

Idea Cellular Ltd. -6.52%

Jindal St & Pwr -6.49%

HCL technology -6.19%

Ceat Ltd -5.88%

Hind. Construction Co. -5.00%

TOP GAINERS

TOP LOSERS

8

“ICICI Q4 profit tanks 76% on exceptional provision, NPA worsens”

KEY VALUE

Support 1- 234 Resistance1- 240

Support 2- 230 Resistance 2- 245

TEHNICAL & DERIVATIVE REPORT

May 2, 2016

ICICI BANK

9

“Tata Steel UK not willing to split up assets to secure sale”

KEY VALUES

SUPPORT 1- 345 RESISTANCE 1 -355

SUPPORT 2- 340 RESISTANCE 2- 360

TEHNICAL & DERIVATIVE REPORT

May 2, 2016

TATA STEEL

10

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.

TEHNICAL & DERIVATIVE REPORT

May 2, 2016

DISCLAIMER