Weekly Outlook on Nifty and other indices (August 03, 2015 to August 07, 2015)

DATE: 31/07/2015

WEEKLY OUTLOOK FOR N IFTY AND

MAJOR INDICES

(03/08/2015 - 07/08/2015)

© EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected]

Jagrut Shah Darpan Shah Sr. Research Analyst Head - Research EquityPandit Financial Services Pvt. Ltd. 305, Trinity Business Centre, L. P. Savani Road, Surat - 395009 Gujarat

An ISO 9001:2008 Certified Company www.equitypandit.com

CNX NIFTY PAGE 2


Nifty ended the week on absolutely flat note. As we have suggested last week that the index has the support around the levels of 8350 and the index hit a low of 8321 and bounced back. On weekly charts the index has formed a Hammer pattern in downtrend indicating the trend reversal. Above the levels of 8550 the index can move to the levels of 8700 where upper end of chan-nel is positioned. On 04/08/2015, RBI is announcing the quarterly policy which will decide the direction of the markets going forward. Technically the index is poised to move forward towards the levels of 8800. Support for the index lies in the zone of 8350 to 8400 where short term & long term moving averages and channel support are positioned. Range of the week is seen from 8350 to 8400 on downside to 8700 to 8750 on upside.


Bank Nifty ended the week on absolutely flat note. As we have suggested last week that the index has formed a Bearish engulfing pattern on weekly charts and index corrected to the levels of 18187 before recovering to end the week on high around the levels of 18700. This week the index has formed a Hammer pattern in downtrend indicating the trend rever-sal. As seen from the charts above if the index manages to close above the levels of 18850 the in-dex can move to the levels of 19200 where upper end of downward sloping channel is posi-tioned. On 04/08/2015, RBI is announcing the quarterly policy which will decide the direction of the markets going forward. Technically the support for the index lies in the zone of 18400 to 18600 where short term & long term moving averages are positioned. Range for the week is seen from 18300 to 18500 on downside to 19200 to 19500 on upside.

BANK NIFTY


CNX IT index closed the week on positive note gaining more than 1%. As we have mentioned last week that the index has to sustain above the levels of 11600 to breakout of the channel pattern or else the index can fall to the levels of 11000, the index hit a low of 11300 during the week. The index also fill the gap which was created on the 21/07/2015 when the index opened gap up on back of INFY results. The index closed the week above the strong resistance zone of 11600 where 100 Daily SMA and 200 Daily SMA are positioned. The index has formed a Bullish engulfing pattern on monthly charts. If the index manages to close above the levels of 11800 the index will break-out of the 3 months consolidation. If the index manages to close above the levels of 11800 the index can move to the levels of 12800 to 13000 in 1 to 2 months time frame. Support for the index lies around the levels of 11300 where short term moving averages and trend-line support are lying. Broad range for the index in the coming week is seen from 11200 on downside to 12000 on upside.

CNX IT


CNX FMCG index closed the week on gaining more than 3%. As we have mentioned last week that if the index cross above the levels of 20300 the index can move towards the levels of 21000. The index hit a high of around 20968 during the week. The index has taken the support around the zone of 20000 to 20100 where 50 Daily EMA, 100 Daily SMA and trend-line support are positioned. Support for the index lies in the range of 20200 to 20500 where short term and long term moving averages are positioned. Resistance for the index lies in the zone of 21100. If the index manages to cross above the resistance zone of 21100 the index can move to the levels of 21600. Broad range for the index in the coming week is seen from 20200 on downside to 21500 on upside.

CNX FMCG


CNX PHARMA index closed the week on positive note gaining around 1%. As we have suggested last week that the support for the index lies in the zone of 11800 to 12000 where 200 Daily SMA is lying and the index hit a low of 11870 and recovered during the week to close at the high of 12362 levels. The index has formed a Hammer pattern on weekly charts indicating the trend reversal. The index has formed a Shooting star pattern on monthly charts in an uptrend. The index has to sustain above the levels of 13200 on closing basis on monthly charts to ne-gate this pattern. If the index closes below the levels of 11800 the index can drift to the levels of 11200. Support for the index lies in the zone of 11800 to 12000 where 200 Daily SMA is lying. Resistance for the index lies in the zone of 12500 where 100 Daily SMA is lying. Above the levels of 12500 the index can move to the levels of 12800. Broad range for the index is seen from 11800 to 12000 on downside to 12800 to 13000 on upside.

CNX PHARMA


CNX AUTO index closed the week on positive note gaining around 1%. As we have mentioned last week that the index has formed a Evening Star pattern in an up-trend indicating the trend reversal and the index corrected to the levels of 8236 during the week. The index recovered during the week to close the week on high around the strong re-sistance zone of 8550 to 8600. The index is approaching towards the strong resistance zone of 8600 where upper end of channel is positioned. If the index manages to close above the levels of 8650, in index will break-out of the 3 months consolidation and the index can move to the levels of 8800. Support for the index lies in the zone of 8300 to 8400 where short term and long term mov-ing averages are positioned. Resistance for the index lies in the zone of 8550 to 8600 where trend-line resistance is lying. Broad range for the index is seen from 8300 to 8350 on downside to 8600 to 8650 on upside.

CNX AUTO


CNX ENERGY index closed the week on negative note losing more than 2%. The index has formed a Evening star pattern on weekly charts in an uptrend indicating the trend reversal. If the index closes below the levels of 8650 the index can move to the levels of 8400. The index has formed a Shooting Star pattern on monthly charts in an uptrend indicating the trend reversal. If the index closes below the levels of 8650 the index can move to the levels of 8400. The index has to close above the levels of 9000 to negate bearish pattern on weekly and monthly charts. Support for the index lies in the zone of 8600 to 8650 where 100 Daily SMA and 500 Daily SMA are positioned. Resistance for the index is lying in the zone of 8700 to 8800 where 200 Daily SMA and trend-line are positioned. Broad range for the index is seen between 8500 to 8550 on downside to 8900 to 8950 on up-side.

CNX ENERGY


About EquityPandit

EquityPandit was established in year 2005. Today, EquityPandit is one of the Leading Equity Research Company in India, with around 33400 active subscribers around the globe, who enjoy huge profits in association with EquityPandit. We have been in this industry for a LONG time. In fact, we were among the First few Indian entities in the Advisory domain to venture onto the Inter-net. Today, we have subscribers... in 32 countries worldwide who trust us! We are an ISO Certified company for quality of our services. We were the First Company to bring research and advisory based on Tech-nical analysis on internet in India, until then, only investment research was available on internet in India.

Disclaimer: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and will vary accordingly.


EquityPandit Premium Services

EP-F&O Special is EquityPandit’s huge profits generating package. In this service we provide you with an ex-cellent F&O calls in equity and Indexes like Nifty and bank Nifty. This service is basically for F&O Traders. Here you will receive 2-4 calls daily. Huge profits are earned every month. In this package we provide huge profits every month on consistent basis. Our subscribers earn huge profits every month. Know more about EP-F&O Special package

EP-Basic is Intraday Package which is meant for intraday traders. Calls are provided live during market hours by SMS. 2-3 Intraday calls are given within a day. EquityPandit provides assured daily profits in this package i.e everyday you would end up with profits. High accuracy of 90-95% is maintained consistently. Know more about EP-Basic package

EP-Investor is EquityPandit's Flagship product. This package is for short term investments. Recommenda-tions given in this package are midcap and smallcap multibaggers. Each and every call provided in this package gives 15-25% profits in short term and most of our call gives more than 100% profits in small time duration. A most famous and appreciated package among investors in Indian Stock Market. Know more about EP-Investor package

Weekly Outlook on Nifty and other indices (August 03, 2015 to August 07, 2015)

Economy & Finance

Transcript of Weekly Outlook on Nifty and other indices (August 03, 2015 to August 07, 2015)