April 22, 2016

TEHNICAL & DERIVATIVE

REPORT

APRIL 22,2016

SENSEX ( 25880.38) /NIFTY (7912.05 )

Nifty may open in red tracking global cues
Indian benchmark indices are likely to open in red with the market
indicator SGX Nifty trading -30.50 points at 7,904.50 at the time of
market closed. Asian market is trading upside along with America
market but Europe market falls today.

KEY VALUE
SUPPORT 1- 7864.77

RESISTANCE1- 7942.62

SUPPORT 2- 7814.83

RESISTANCE 2- 7970.53

OBSERVATION

Nifty closed at 7912.05 with a loss of (-2.70) 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 7940 level it would witness buying which would lead the index towards
7980-8040 levels.However if index breaks below 7880 level it would witness
selling which would take the index towards 7840-7820 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 7940. If NIFTY trades above this level then we
may witness a further rally up to 7980-8040 levels. However, if NIFTY trades
below 7880 levels then we may see some loss booking initiating in the market,
which may correct up to 7 level.7840-7820.

TEHNICAL & DERIVATIVE REPORT

APRIL 22,2016

NIFTY BANK OUTLOOK- (16637.15)

On Thursday session, the index had given a flat opening followed up with positive
momentum throughout the session. The HANGING MAN pattern formed during
the previous week on weekly charts has been negated as the index has managed to
cross the high on Wednesday, thus indicating bulls taking control back in their
favor. If the index manages to continue its momentum, then it could rally up to
16500-16550 range which is 127% reciprocal retracement of the previous corrective
move from 16283 to 15440. 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 16140 and 15975
whereas resistance are seen around 16390 and 16510.

KEY VALUE
Support 1- 16046.22

Resistance1-16364.87

Support 2- 15869.73

Resistance 2-16057.03

MARKET INDICATORS
ASIA MARKET:-

Index
Straits Times
Hang Seng

Last
Traded
2,960.78

Change
+10.83

+0.37 %

21,622.25 +385.94

+1.82 %

SSE
Composite
Index
(Shanghai)

2,952.89

Nikkei 225

17,363.62

-19.69

-0.66%

+457.08 +2.70%

AMERICA :-

Index

Last Traded

Change

Dow
JONES

18,096.27

+42.67

+0.24%

S&P500

2,102.40

+1.60

+0.08%

Nasdaq

4,948.13

+7.80

-0.16%

Europe :Index

Last Traded

Change

310,404.76

-24.44

FTSE 100

6,371.56

-38.70

-0.60%

CAC 40

4,567.48

-16.53

-0.16%

BEL-20

3,433.00

+17.50

+0.51%

DAX

-0.53%

TOP GAINERS

Amtek Auto ltd.

+8.52 %

Future Retail

+6.89 %

DCB Bank

+6.51 %

Vendata

+6.26 %

Hind.Copper

+5.10%

TOP LOSERS

Prestige Estates Pro

-4.56%

Wipro Ltd.

-7.01 %

Page Industries Ltd.

4.66 %

Network 18 Media & I

-4.49 %

Crisil

-4.38 %

TEHNICAL & DERIVATIVE REPORT

APRIL 22,2016

Glenmark pharma
Glenmark receives 3 observations from USFDA for Indore plant

KEY VALUE

Support 1- 783.47

Resistance1-805.72

Support 2- 774.18

Resistance 2-818.68

TEHNICAL & DERIVATIVE REPORT

APRIL 22,2016

Indusind Bank
IndusInd Bank Q4 net up 25% at Rs 620 cr; asset quality falls

KEY VALUES

SUPPORT 1- 975.28

RESISTANCE1-990.68

SUPPORT 2- 966.72

RESISTANCE 2- 997.52

TEHNICAL & DERIVATIVE REPORT

APRIL 22, 2016

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.

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