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13 April 2017
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 13th April 2017

NIFTY

NIFTY SPOT : R1:9245 R2:9288 R3:9330

PIVOT : 9203 S1:9161 S2:9119 S3:9076

NIFTY DAILY CHART

CHART INTERPRETATION

Nifty has taken support at trendline and showed upside movement from there. The major resistance placed
around 9270. Only a decisive close above 9270 will signal acceleration of the current up move, going forward.
Failure to do so, will lead to broader consolidation between 9000 and 9250 in the short. The immediate support
is revised upwards to 9020 region as it is the confluence of following: The double bottom formed at last two
weeks identical lows is placed at 9019 Rising 20-day EMA, which has acted as intermediate support in the entire
up move since December 2016 lows, is at 9060 region The major bullish gap area formed post the state election
results is between 9060 and 8934. Among oscillators, the 14 period RSI is exhibiting a negative divergence.

INDEX OUTLOOK

Nifty Future: The Nifty is likely to open positive on the back of positive global cues. Its important to sustain
above 9180 to move upwards. Buy nifty near 9180-9170for targets of 9200-9225, stop loss: 9155

Nifty Bank Future: Post the policy, the market participants dint take the policy on cheerful note and saw some
fresh additions of short positions. Huge profit booking was seen in Call options whereas the positions on the
Put side have shifted towards 21500 and 21200 strike. Current Put build-up is at 21500 suggesting index may
see extended profit booking if it is unable to move above 21500. Sell Nifty Bank in the range of 21500-21550,
targets: 21300-21200, stop loss: 21620

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 13th April 2017

SECTORAL INDICES

Key Indices Levels to watch out for the day

INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 29975 29800 29643.48 29480 29285
NIFTY 9300 9250 9203.45 9160 9100
NIFTYBANK 22000 21800 21666.80 21500 21390
NIFTYIT 10640 10450 10323.45 10190 10050

CORPORATE NEWS

Shilpa Medicare received an Establishment Inspection Report (EIR) for its manufacturing facilities located at
Raichur in Karnataka from the US health regulator. The company had submitted a detailed corrective and
preventive action (CAPA) plan to the regulator within the stipulated timelines in response to the form 483
issued at the end of inspection. The USFDA has reviewed the CAPA and has found them acceptable.

Ramky Infrastructure has bagged two projects for construction of residential apartment and a commercial
complex worth Rs. 546.5 cr from Kanpur Development Authority in Kanpur, Uttar Pradesh.

From May 01, petrol and diesel prices will change every day in sync with international rates. Companies
namely; HPCL, BPCL and IOC will launch a pilot for daily price revision in five select cities from May 01 and
gradually extend it to all over the country.

WWW.EQUITYRESEARCHLAB.COM
 13th April 2017

ERL RESEARCH TEAM

Member Name Designation E-mail ID

Mr. Tuhinanshu Jain Research Head Tuhinanshu.jain@equityresearchlab.co.in
Mr. Yogesh Subnani Sr. Research Analyst Yogesh.subnani@equityresearchlab.co.in

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