Weekly Outlook for Nifty and major indices (04/09/2017 to 08/09/2017)

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Information about Weekly Outlook for Nifty and major indices (04/09/2017 to 08/09/2017)

Published on September 2, 2017

Author: equitypandit

Source: slideshare.net

1. DATE: 01/09/2017 WEEKLY OUTLOOK FOR NIFTY AND MAJOR INDICES (04/09/2017 - 08/09/2017) © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com 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 | info@equitypandit.com Nifty closed the week on positive note gaining around 1.20%. As we have mentioned last week, that support for the index lies in the zone of 9780 to 9810 where short term moving averages are lying. Support for the index lies in the zone of 9700 to 9740 from where the index broke out of June-2017 high. If the index manages to close below these levels then the index can drift to the levels of 9550 to 9600 where medium term moving averages are lying. During the week the index manages to hit a low of 9784 and close the week around the levels of 9975. Minor support for the index lies in the zone of 9880 to 9910. Support for the index lies in the zone of 9800 to 9830 where short term moving averages are lying. Support for the index lies in the zone of 9700 to 9740 from where the index broke out of June-2017 high. If the index manages to close below these levels then the index can drift to the levels of 9550 to 9600 where medium term moving averages are lying. Resistance for the index lies in the zone of 9950 to 10000 from where the index has broken down after consolidation. If the index manages to close above these levels then the index can move to the levels of 10080 to 10120 where the index has formed a top in the month of August-2017. Broad range for the week is seen from 9800 on downside & 10200 on upside.

3. PAGE 3 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty Bank closed the week on positive note gaining around 0.70%. As we have mentioned, last week that support for the index lies in the zone of 23800 to 23900 from where the index broke out of June-2017 highs and short term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 23300 to 23400 where break out levels for the index is lying. During the week the index manages to hit a low of 24103 and close the week around the levels of 24434. Minor support for the index lies in the zone of 24200 to 24300. Support for the index lies in the zone of 23800 to 23900 from where the index broke out of June-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 23300 to 23400 where break out levels for the index is lying. Resistance for the index lies in the zone of 24500 to 24600 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 25100 to 25200 where the index has formed a top in the month of August-2017. Range for the week is seen from 24000 to 24100 on downside & 25000 to 25100 on upside. NIFTY BANK

4. PAGE 4 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty IT index closed the week on negative note losing around 0.10%. As we have mentioned last week, that support for the index lies in the zone of 10500 to 10600 where trend-line support and Fibonacci levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 10300 to 10400 where short & long term moving averages and Fibonacci levels are lying. During the week the index manages to hit a low of 10453 and close the week around the levels of 10514. Support for the index lies in the zone of 10500 to 10600 where trend-line support and Fibonacci levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 10300 to 10400 where short & long term moving averages and Fibonacci levels are lying. Minor resistance for the index lies in the zone of 10700 to 10800. Resistance for the index lies in the zone of 11000 to 11050 where the index has formed a top in the month of June- 2017. If the index manages to close above these levels then the index can move to the levels of 11200 to 11300 where the index has formed a top in the month of August-2016. Broad range for the index in the coming week is seen from 10200 to 10300 on downside & 10800 to 10900 on upside. NIFTY IT

5. PAGE 5 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty FMCG index closed the week on positive note gaining around 1.40%. As we have mentioned last week, that support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25000 to 25200 where medium term moving averages and break out levels are lying. During the week the index manages to hit a low of 25445 and close the week around the levels of 25907. Minor support for the index lies in the zone of 25700 to 25800. Support for the index lies in the zone of 25400 to 25500 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 25000 to 25200 where medium term moving averages and break out levels are lying. Resistance for the index lies in the zone of 26100 to 26200 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 26600 to 26700. Broad range for the index in the coming week is seen from 24900 to 25000 on downside & 26800 to 26900 on upside. NIFTY FMCG

6. PAGE 6 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty PHARMA index closed the week on positive note gaining around 1.90%. As we have mentioned last week, that minor support for the index lies in the zone of 8700 to 8750. Support for the index lies in the zone of 8600 to 8650 from where the index broke out of consolidation. If the index manages to close below these levels then the index can drift to the levels of 8300 to 8350 where the index has formed a short term bottom. During the week the index manages to hit a low of 8841 and close the week around the levels of 9072. Minor support for the index lies in the zone of 8950 to 9000. Support for the index lies in the zone of 8750 to 8800 from where the index broke out of consolidation. If the index manages to close below these levels then the index can drift to the levels of 8500 to 8550. Minor resistance for the index lies in the zone of 9100 to 9150. Resistance for the index lies in the zone of 9200 to 9250 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 9350 to 9400 where short term moving averages are lying. Broad range for the index is seen from 8800 to 8850 on downside & 9300 to 9350 on upside. NIFTY PHARMA

7. PAGE 7 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty AUTO index closed the week on positive note gaining around 2.40%. As we have mentioned last week, that support for the index lies in the zone of 10500 to 10600 where medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 10200 to 10300 from where the index broke out of Feb-2017 highs and Fibonacci levels are lying. During the week the index manages to hit a low of 10486 and close the week around the levels of 10824. Minor support for the index lies in the zone of 10700 to 10750. Support for the index lies in the zone of 10500 to 10600 where medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 10200 to 10300 from where the index broke out of Feb-2017 highs and Fibonacci levels are lying. Resistance for the index lies in the zone of 10800 to 10900 from where the index broke down after consolidation and short term moving averages are lying. If the index manages to close below these levels then the index can move to the levels of 11000 to 11100 where Fibonacci levels are lying. Broad range for the index is seen from 10500 to 10600 on downside & 11200 to 11300 on upside. NIFTY AUTO

8. PAGE 8 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty ENERGY index closed the week on positive note gaining around 2.20%. As we have mentioned last week that minor support for the index lies in the zone of 12750 to 12800. Support for the index lies in the zone of 12500 to 12600 from where the index broke out of April-2017 highs and Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 12000 to 12100 where short & medium term moving averages are lying. During the week the index manages to hit a low of 12726 and close the week around the levels of 13219. Minor support for the index lies in the zone of 13000 to 13050. Support for the index lies in the zone of 12500 to 12600 from where the index broke out of April-2017 highs and Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 12000 to 12100 where short & medium term moving averages are lying. Resistance for the index lies in the zone of 13200 to 13300 where the index has formed a short term top. If the index manages to close above these levels then the index can move to the levels of 13500 to 13600. Broad range for the index is seen between 12800 to 12900 on downside & 13500 to 13600 on upside. NIFTY ENERGY

9. PAGE 9 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty METAL index closed the week on positive note gaining around 3.80%. As we have mentioned last week, that resistance for the index lies in the zone of 3450 to 3460 where the index has formed a double top pattern. If the index manages to close above these levels then the index can move to the levels of 3520 to 3550 where the index has formed a life time high. During the week the index manages to hit a high of 3545 and close the week around the levels of 3542. Support for the index lies in the zone of 3450 to 3460 from where the index has broken out of double top pattern. If the index manages to close below these levels then the index can drift to the levels of 3320 to 3350 where the index has taken multiple support. Resistance for the index lies in the zone of 3520 to 3550 where the index has formed a life time high. If the index manages to close above these levels then the index can move to the levels of 3600 to 3650. Broad range for the index is seen between 3320 to 3380 on downside & 3650 to 3700 on upside. NIFTY METAL

10. PAGE 10 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty PSU BANK index closed the week on negative note losing around 0.80%. As we have mentioned last week, that resistance for the index lies in the zone of 3330 to 3350 where 200 daily moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3470 to 3500 where Fibonacci levels and short & medium term moving averages are lying. During the week the index manages to hit a high of 3347 and close the week around the levels of 3296. Support for the index lies in the zone of 3200 to 3250 where the index has taken support in the month of March-2017 and June-2017. If the index manages to close below these levels then the index can drift to the levels of 3100 to 3140 where long term Fibonacci levels are lying. Resistance for the index lies in the zone of 3330 to 3350 where 200 daily moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3450 to 3500 where Fibonacci levels and short & medium term moving averages are lying. Broad range for the index is seen between 3100 to 3140 on downside & 3470 to 3500 on upside. NIFTY PSU BANK

11. PAGE 11 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty REALTY index closed the week on positive note gaining around 5.10%. As we have mentioned last week, that resistance for the index lies in the zone of 275 to 278 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 284 to 286 from where the index has sold off. During the week the index manages to hit a high of 289 and close the week around the levels of 288. Minor support for the index lies in the zone of 284 to 286. Support for the index lies in the zone of 278 to 280 from where the index broke out after consolidation. If the index manages to close below these levels then the index can drift to the levels of 270 to 272 where short term moving averages are lying. Resistance for the index lies in the zone of 290 to 292 where long term Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 310 to 312 from where the index has sold off in the month of Jan-2013. Broad range for the index is seen between 278 to 280 on downside & 300 to 302 on upside. NIFTY REALTY

12. PAGE 12 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty Media index closed the week on positive note gaining around 3.30%. As we have mentioned last week, that support for the index lies in the zone of 2910 to 2950 where Fibonacci levels and 200 daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2800 where Fibonacci levels are lying. During the week the index manages to hit a low of 2929 and close the week around the levels of 3027, Support for the index lies in the zone of 2910 to 2950 where Fibonacci levels and 200 daily moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2750 to 2800 where Fibonacci levels are lying. Resistance for the index lies in the zone of 3030 to 3060 where short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3100 where medium term moving averages are lying. Broad range for the index is seen between 2900 to 2930 on downside & 3130 to 3150 on upside. NIFTY MEDIA

13. PAGE 13 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com 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 Internet. 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 Technical 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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