May 6, 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 +39.00 points at 7,763.00 at the time of

market closed. Asian market, Europe market, America market

trading down .

TEHNICAL & DERIVATIVE REPORT

May 6, 2016

SENSEX ( 25101.73) /NIFTY (7735.50)

3

KEY VALUE

SUPPORT 1- 7701.50 RESISTANCE1- 7760.50

SUPPORT 2- 7660.00 RESISTANCE 2- 7800.00

.

Nifty closed at 7735.50 with a loss of (-40.45) 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.

OBSERVATION

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.

4

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

positive momentum throughout the session. The “DOWN TREND”

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

16200 and 16050 whereas resistance are seen around 17040 and 17160

TEHNICAL & DERIVATIVE REPORT

May 6, 2016

NIFTY BANK OUTLOOK- (16281.00)

5

KEY VALUE

Support 1- 16200 Resistance1- 16385

Support 2- 16050 Resistance 2- 16425

ASIA MARKET:-

MARKET INDICATORS

Index Last Traded Change

Straits Times 2,773.07 -38.13 -1.36%

Hang Seng 20,525.83 -151.11 -0.73%

SSE Composite Index (Shanghai) 2,991.27 -1.37 -0.05%

Nikkei 225 16,147.38 -518.67 -3.11%

6

AMERICA :-

Index Last Traded

Change

Dow

JONES 17,750.91 -140.25 -0.78%

S&P500 2,063.37 -54.37 -1.13%

Nasdaq 2,063.37 -18.06 -0.87%

EUROPE :-

Index Last Traded Change

DAX 9,847.72 -79.05 -0.80 %

FTSE 100 6,107.29 -78.30 -1.27 %

CAC 40 4,338.88 -33.10 -0.76 %

BEL-20 3,318.00 -43.50 -1.29%

7

CASTROL INDIA +5.91 %

INDIABULLS REAL ESTA +5.69%

UNITED SPIRITS +5.04 %

CROMPTON GREAVES +4.50 %

ATUL LTD +4.33%

BALKRISHNA IND. -5.69 %

AMTEK AUTO LTD. -5.34%

GREAT EASTERN -5.23%

IDEA CELLULAR LTD. -5.02%

REDINGTON (INDIA) LT -4.84%

TOP GAINERS

TOP LOSERS

8

“ SKS Microfinance changes name to Bharat Financial Inclusion”

KEY VALUE

Support 1- 590 Resistance1- 605

Support 2- 580 Resistance 2- 613

TEHNICAL & DERIVATIVE REPORT

May 6, 2016

SKS MICROFINANCE

9

“Analysts bet psoriasis drug to aid Sun Pharma's US kitty”

KEY VALUES

SUPPORT 1- 802 RESISTANCE 1 -814

SUPPORT 2- 792 RESISTANCE 2- 820

TEHNICAL & DERIVATIVE REPORT

May 6, 2016

SUN PHARMA

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 6, 2016

DISCLAIMER