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SAI PROFICIENT
RESEARCH
DAILY EQUITY REPORT
05-4-2016
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MARKET OUTLOOK
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NIFTY50
NIFTY LIKELY TO OPEN IN GREEN TRACKING POSITIVE GLOBAL CUES
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OBSERVATION:Nifty closed at 7758.80 with a gain of (+45.75) points. On the daily chart the
index has formed a Bullish candle indicating positive 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 7775
level it would witness buying which would lead the index towards 8000-8040
levels.However if index breaks below 7740 level it would witness selling which
would take the index towards 7700-6960 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 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 7775 . If NIFTY
trades above this level then we may witness a further rally up to 7800-8000 levels.
However, if NIFTY trades below 7740 levels then we may see some loss booking
initiating in the market, which may correct up to 7 level.7700-6960.
DATE
INDEX
OPEN
CLOSE
HIGH
LOW
05-4-2016
Nifty
7713.05
7758.80
7809.90
7737
SUPPORT2
7722
SUPPORT 1
7757
RESISTANCE 1
7821
RESISTANCE 2
7850
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BANK NIFTY
A DAY AHEAD OF RESERVE BANK MEET, FINANCE MINISTER ARUN JAITLEY TODAY PITCHED FOR
EASIER MONETARY POLICY, ARGUING THAT HIGH INTEREST RATES CAN MAKE THE ECONOMY
SLUGGISH
DATE
INDEX
OPEN
CLOSE
05-4-2016
Bank nifty
16306.95
16257.9
SUPPORT 2 SUPPORT1
16074
16191
HIGH
LOW
16341.35
16126
RESISTANCE1
RESISTANCE2
16383
16462
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DATE
STOCK
CMP
OPEN
CLOSE
05-4-2016
TATA
MOTORS
DVR
285.50
288.80
285.60
SUPPORT 2
277
HIGH
289.45
LOW
281.80
SUPPORT1
RESISTANCE1
RESISTANCE2
281
290
294
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ICICI BANK
ICICI Bank -Completes sale of 9 percent stake in ICICI Lombard to Fairfax
Financial Holdings -Completes sale of 2 percent stake in ICICI Prudential to
Compassable Investments
DATE
STOCK
05-4-2016
ICICI BANK
CMP
OPEN
CLOSE
HIGH
LOW
239.35
240.25
238.75
241.05
234.65
SUPPORT 2 SUPPORT1
230
234
RESISTANCE1
RESISTANCE2
240
243
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HERO MOTOCORP
Country's largest two-wheeler maker Hero MotoCorp today reported 14 percent increase
in sales at 6, 06,542 units in March. The company had sold 5, 31,750 units in March 2015
Date
Stock
05-4-2016
CMP
HERO
MOTOCORP
2986
Open
Close
High
Low
2988
2983.70
2988
2946
SUPPORT 2
SUPPORT 1
RESISTANCE 1
2947
2972
2994
RESISTANCE 2
3019
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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.