Daily Equity Report-Sai Proficient Research

WWW.SAIPROFICIENT.COM {DAILY EQUITY REPORT (18/3/2016)}

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SAI PROFICIENT RESEARCH

DAILY EQUITY REPORT

[email protected] +919981999934,

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18-3-2016

http://www.saiproficient.com/

mailto:[email protected]

mailto:[email protected]


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MARKET OUTLOOK

BANK NIFTY closed with( -17.70) at 15,444.

NIFTY closed with (+13.80) at 7512.

HDFC bank launched dedicated product for start –ups.

CII survey ranks VEDANTA among top 10 sustainable firms.

Crompton Greaves-Consortium wins contract for EnBW Hohe See

offshore wind farm Scope of work includes design,

manufacturing, installation of HV/MV equipments Scope of work

includes control & protection system for the wind farm.

TATA group Titan Company ltd.today declared interim dividend

of Rs 2.20 per fulls paid equity share of Rs.1 each .

Drug major “SUNPHARMA CEUTICAL”industries plans to buy

back shares worth USD 250 million.



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NIFTY SET FOR BIG RALLY ON FED’S DOVISH TONE

NIFTY are likely to gap up on Thursday after the US FEDERAL RESERVE

struck a dovish tone at the end of its two-day meeting that concluded yesterday

NSE Nifty gained to hold 7749.20 level in trade today, down (+13.80)points to 7512 at close.

NIFTY50



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OBSERVATION:-

Nifty closed at 7512 with a gain of +13.80 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 7520 level it would witness buying which would lead the index

towards 7580-7640 levels.However if index breaks below 7500 level it would witness selling

which would take the index towards 7450-7400Nifty 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 upwards and above its reference line indicating positive 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 7500. If NIFTY trades above this level then we may witness a further rally up to 7540-

7595-7640 levels. However, if NIFTY trades below 7495 levels then we may see some profit

booking initiating in the market, which may correct up to 7440-7395-7340 level.

Date Index Open Close High Low

17-3-2016 Nifty

7588 7512 7601.95 7487.10

SUPPORT2 SUPPORT 1 RESISTANCE 1 RESISTANCE 2

7480 7500 7525 7540



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Bank Nifty unlikely to outperform nifty50

Date Index Open Close High Low

17-3-2016 Bank Nifty

15661 15444 15479 15326.50

SUPPORT 2 SUPPORT 1 RESISTANCE 1 RESISTANCE 2

15400 15430 15460 15490

BANK NIFTY



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HDFC bank launched dedicated product for start up

Date Stock CMP Open Close High Low

17-3-2016 HDFC BANK 1016.75 1034.95 1018.40 1039 1011

SUPPORT 2 SUPPORT1 RESISTANCE1 RESISTANCE2

1000 1010 1025 1040

HDFC BANK



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CII survey ranks VEDANTA among top 10 sustainable firms


17-3-2016 VEDANTA 85.70 88.70 86.25 89.70 85.55


84 85.50 86.10 87.50

VEDANTA



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TATA group Titan Company ltd.today declared interim dividend of Rs 2.20 per

full’s paid equity share of Rs.1 each


17-3-2016 TITAN

CO. 338.90 343.50 339.50 343.90 337.70


330 335 340 345

TITAN COMPANY



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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.

DISCLAIMER


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