Weekly Outlook for Nifty and major Indices (June 06, 2016 to June 10, 2016)

Information about Weekly Outlook for Nifty and major Indices (June 06, 2016 to June 10, 2016)

Published on June 4, 2016

Author: equitypandit

Source: slideshare.net

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1. DATE: 03/06/2016 WEEKLY OUTLOOK FOR NIFTY AND MAJOR INDICES (06/06/2016 - 10/06/2016) © 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

2. NIFTYPAGE 2 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty ended the week on positive note gaining around 0.80%. As we have mentioned last week that resistance for the index lies in the zone of 8250 to 8300 from where the index has sold off in the month of Oct - 2015. If the index manages to close above these levels then the index can move to the levels of 8600 to 8650 levels. During the week the index manages to hit a high of 8262 and close the week around the levels of 8221. Support for the index lies in the zone of 8000 from where the index has broken out from the triple top formation. If the index manages to close below these levels then the index can drift to the levels of 7800 where 200 Daily SMA is lying. Resistance for the index lies in the zone of 8250 to 8300 from where the index has sold off in the month of Oct - 2015. If the index manages to close above these levels then the index can move to the levels of 8600 to 8650 levels. Broad range for the week is seen from 8000 on downside to 8400 on upside.

3. PAGE 3 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty Bank ended the week on positive note gaining around 1.00%. As we have mentioned last week that resistance for the index lies in the zone of 18000 from where the index has sold off in the month of Oct - 2015. If the index manages to close above these levels then the index can move to the levels of 19000. During the week the index man- ages to hit a high of 17762 and close the week around the levels of 17681. Support for the index lies in the zone of 17000 from where the index has broken out of the double top formation. If the index manages to close below these levels then the index can drift to the levels of 16500 where 200 Daily SMA is lying. Resistance for the index lies in the zone of 18000 from where the index has sold off in the month of Oct - 2015. If the index manages to close above these levels then the index can move to the levels of 19000. Range for the week is seen from 17000 to 17100 on downside to 18100 to 18200 on upside. NIFTY BANK

4. PAGE 4 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty IT index ended the week on positive note gaining around 0.40%. As we have mentioned last week that resistance for the index lies in the zone of 11650 to 11700 where the index has hit a high in the month of April - 2016. If the index manages to close above these levels then the index can move to the levels of 12000 from where the index has sold off in the month of Oct - 2015. During the week the index manages to hit a high of 11586 and close the week around the levels of 11462. Support for the index lies in the zone of 11100 to 11200 where short term moving averages and 200 Daily SMA is lying. If the index manages to close below these levels then the index can drift to the levels of 10700 to 10800 from where the index has bounced in the month of March - 2016. Resistance for the index lies in the zone of 11650 to 11700 where the index has hit a high in the month of April - 2016. If the index manages to close above these levels then the index can move to the levels of 12000 from where the index has sold off in the month of Oct - 2015. Broad range for the index in the coming week is seen from 11000 on downside to 11800 on upside. NIFTY IT

5. PAGE 5 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty FMCG index closed the week on absolutely flat note. As we have mentioned last week that resistance for the index lies in the zone of 21300 to 21500 from where the index has sold off in the month of April - 2015. If the index manages to close above these levels then the index can move to the levels of 22000 to 22500 where life time highs for the index is lying. During the week the index manages to hit a high of 21036 and close the week around the levels of 20912. Resistance for the index lies in the zone of 21300 to 21500 from where the index has sold off in the month of April - 2015. If the index manages to close above these levels then the index can move to the levels of 22000 to 22500 where life time highs for the index is lying. Support for the index lies in the zone of 20000 to 20100 from where the index has broken out from the declining trend-line resistance. If the index manages to close below these levels then the index can drift to the levels of 19700 to 19800 where 200 Daily SMA is lying. Broad range for the index in the coming week is seen from 19800 on downside to 22000 on upside. NIFTY FMCG

6. PAGE 6 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty PHARMA index closed the week on negative note losing around 3.60%. As we have mentioned last week that resistance for the index lies in the zone of 11300 to 11400 where 100 Daily SMA and 100 Weekly SMA are lying. If the index manages to close above these levels then the index can move to the levels of 11800 to 12000 where 200 Daily SMA is lying. During the week the index manages to hit a high of 11318 and close the week around the levels of 10808. Support for the index lies in the zone of 10400 to 10500 where weekly trend-line support for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 10300 from where the index has bounced in the month of Mar - 2016. Resistance for the index lies in the zone of 11000 where channel resistance for the index is lying. If the index manages to close above these levels then the index can drift to the levels of 11300 to 11400 where 100 Daily SMA and 100 Weekly SMA are lying. Broad range for the index is seen from 10250 to 10300 on downside to 11000 to 11100 on upside. NIFTY PHARMA

7. PAGE 7 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty AUTO index closed the week on positive note gaining around 4.20%. As we have mentioned last week that resistance for the index lies in the zone of 8500 to 8550 where trend-line joining earlier highs is lying. If the index manages to close above these lev- els then the index can move to the levels of 8800. During the week the index manages to hit a high of 8814 and close the week around the levels of 8749. Support for the index lies in the zone of 8500 to 8550 where trend-line joining earlier highs is lying. If the index manages to close below these levels then the index can drift to the levels of 8200 to 8250 where short term moving averages are lying. Resistance for the index lies in the zone of 8830 to 8880 from where the index has retraced in the month of April - 2015 and August - 2015. If the index manages to close above these levels then the index can move to the levels of 9100 where life time highs for the index is ly- ing. Broad range for the index is seen from 8500 to 8550 on downside to 8950 to 9000 on upside. NIFTY AUTO

8. PAGE 8 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] Nifty ENERGY index closed the week on absolutely flat note. As we have mentioned last week that support for the index lies in the zone of 8200 to 8250 where short term moving averages and 100 & 200 Daily SMA is lying. If the index manages to close below these levels then the index can drift to the levels of 7900 to 7920 from where the index has broken out in the month of March - 2016. During the week the index manages to hit a low of 8318 and close the week around the levels of 8447. Support for the index lies in the zone of 8200 to 8250 where short term moving averages and 100 & 200 Daily SMA is lying. If the index manages to close below these levels then the index can drift to the levels of 7900 to 7920 from where the index has broken out in the month of March - 2016. Minor resistance for the index lies in the zone of 8500. Resistance for the index lies in the zone of 8700 where the index has hit a high in the month of April - 2016. If the index man- ages to close above these levels then the index can move to the levels of 8800 to 8900. Broad range for the index is seen between 8200 to 8250 on downside to 8650 to 8700 on up- side. NIFTY ENERGY

9. PAGE 9 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | [email protected] 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.

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