Weekly Outlook for Nifty and major indices (12/06/2017 to 16/06/2017)

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Information about Weekly Outlook for Nifty and major indices (12/06/2017 to 16/06/2017)

Published on June 10, 2017

Author: equitypandit

Source: slideshare.net

1. DATE: 09/06/2017 WEEKLY OUTLOOK FOR NIFTY AND MAJOR INDICES (12/06/2017 - 16/06/2017) © 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 absolutely flat note. As we have mentioned last week that minor support for the index lies in the zone of 9550 to 9600. Support for the index lies in the zone of 9350 to 9400 where break out levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 9200 to 9250 where break out gap for the index is lying. During the week the index manages to hit a low of 9608 and close the week around the levels of 9668. Minor support for the index lies in the zone of 9550 to 9600. Support for the index lies in the zone of 9350 to 9400 where break out levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 9200 to 9250 where break out gap for the index is lying. Resistance for the index lies in the zone of 9730 to 9750. If the index manages to close above these levels then the index can move to the levels of 9880 to 9900. Broad range for the week is seen from 9450 on downside & 9850 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 1.30%. As we have mentioned last week that resistance for the index lies in the zone of 23450 to 23500. If the index manages to close above these levels then the index can move to the levels of around 23700 to 23800 where Fibonacci levels are lying. During the week the index manages to hit a high of 23709 and close the week around the levels of 23691. Minor support for the index lies in the zone of 23450 to 23500. Support for the index lies in the zone of 22900 to 23000 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 22400 to 22500 where short term moving averages and break out levels for the index is lying. Resistance for the index lies in the zone of 23700 to 23800 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of around 24150 to 24250. Range for the week is seen from 23300 to 23400 on downside & 24100 to 24200 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 1.60%. As we have mentioned last week that minor resistance for the index lies in the zone of 10700 to 10750. Resistance for the index lies in the zone of 10900 to 11000 where highs for the month of March-2017 and Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of 11300 to 11400 from where the index sold off in the month of August-2016. During the week the index manages to hit a high of 11016 and close the week around the levels of 10443. Support for the index lies in the zone of 10300 to 10400 where short & long term moving averages and Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 10000 to 10100 where Fibonacci levels and trend-line support for the index is lying. Resistance for the index lies in the zone of 10500 to 10600 where trend-line resistance and Fibonacci levels for the index is lying. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000 where highs for the month of March- 2017 and Fibonacci levels are lying. Broad range for the index in the coming week is seen from 10000 to 10100 on downside & 10700 to 10800 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 negative note losing around 1.70%. As we have mentioned last week that resistance for the index lies in the zone of 26600 to 26700. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying. During the week the index manages to hit a high of 26515 and close the week around the levels of 25941. 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 24500 to 24600 where break out levels are lying. Minor resistance for the index lies in the zone of 26000 to 26100. Resistance for the index lies in the zone of 26500 to 26600. If the index manages to close above these levels then the index can move to the levels of 27200 to 27400 where Fibonacci levels are lying. Broad range for the index in the coming week is seen from 25000 to 25100 on downside & 27000 to 27100 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 2.70%. As we have mentioned last week that minor support for the index lies in the zone of 9050 to 9150. Support for the index lies in the zone of 8600 to 8650 where the index has formed a short term bottom. The index is in a freefall and no support levels are holding. The index can drift to the levels of 8000 to 8100 where long term Fibonacci levels are lying. During the week the index manages to hit a low of 9150 and close the week around the levels of 9507. Support for the index lies in the zone of 9250 to 9300 where Fibonacci levels are lying. If the index manages to close below these levels then the index can drift to the levels of 8600 to 8650 where the index has formed a short term bottom. Resistance for the index lies in the zone of 9700 to 9750 from where the index broke down from November-2016 lows. If the index manages to close above these levels then the index can move to the levels of 9850 to 9900 from where the index broke down from double bottom pattern and short term moving averages are lying. Broad range for the index is seen from 9200 to 9250 on downside & 9700 to 9750 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 1.00%. As we have mentioned last week that minor support for the index lies in the zone of 10750 to 10800. Support for the index lies in the zone of 10600 to 10650 where break out 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 Fibonacci levels are lying. During the week the index manages to hit a low of 10793 and close the week around the levels of 11047. Minor support for the index lies in the zone of 10850 to 10900. Support for the index lies in the zone of 10600 to 10650 where break out 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 Fibonacci levels and short term moving averages are lying. Resistance for the index lies in the zone of 11000 to 11100 where Fibonacci levels are lying. If the index manages to close above these levels then the index can move to the levels of around 11250 to 11300. Broad range for the index is seen from 10500 to 10600 on downside & 11300 to 11400 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 negative note losing around 0.60%. As we have mentioned last week that support for the index lies in the zone of 11600 to 11700 where Fibonacci level and highs for the month of February-2017 & March-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of around 11200 to 11300 where long term break out levels are lying. During the week the index manages to hit a low of 11642 and close the week around the levels of 11688. Support for the index lies in the zone of 11600 to 11700 where Fibonacci level and highs for the month of February-2017 & March-2017 is lying. If the index manages to close below these levels then the index can drift to the levels of around 11200 to 11300 where long term break out levels are lying. Minor resistance for the index lies in the zone of 11800 to 11900. Resistance for the index lies in the zone of 12150 to 12200 where Fibonacci levels is lying. If the index manages to close above these levels then the index can move to the levels of around 12450 to 12500 where the index has formed a top in the month of April-2017. Broad range for the index is seen between 11400 to 11450 on downside & 12000 to 12100 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 2.50%. As we have mentioned last week that minor support for the index lies in the zone of 2900 to 2930. Support for the index lies in the zone of 2820 to 2840 where short term bottom 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 2780 where Fibonacci levels are lying. During the week the index manages to hit a low of 2888 and close the week around the levels of 2998. Minor support for the index lies in the zone of 2920 to 2940. Support for the index lies in the zone of 2830 to 2850 where short term bottom 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 2780 where Fibonacci levels are lying. Resistance for the index lies in the zone of 3030 to 3050 where medium term moving averages and the highs for the month of May-2017 are lying. If the index manages to close above these levels then the index can move to the levels of 3070 to 3100 from where the index has broken down in the month of April-2017. Broad range for the index is seen between 2900 to 2930 on downside & 3080 to 3100 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 0.30%. As we have mentioned last week that support for the index lies in the zone of 3470 to 3510 from where the index broke out of double top pattern and Fibonacci level is lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3380 where medium term moving averages are lying. During the week the index manages to hit a low of 3486 and close the week around the levels of 3519. Support for the index lies in the zone of 3470 to 3510 from where the index broke out of double top pattern and Fibonacci level is lying. If the index manages to close below these levels then the index can drift to the levels of 3350 to 3380 where medium term moving averages are lying. Minor resistance for the index lies in the zone of 3570 to 3590. Resistance for the index lies in the zone of 3680 to 3700 from where the index broke down. If the index manages to close above these levels then the index can move to the levels of 3780 to 3820 from where the index sold off in the month of May-2017. Broad range for the index is seen between 3380 to 3420 on downside & 3650 to 3680 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 2.20%. As we have mentioned last week that support for the index lies in the zone of 250 to 252 where the index has taken multiple support. If the index manages to close below these levels then the index can drift to the levels of 246 to 248 where declining trend-line support for the index is lying. During the week the index manages to hit a low of 250 and close the week around the levels of 260. Minor support for the index lies in the zone of 255 to 257. Support for the index lies in the zone of 250 to 252 where the index has taken multiple support. If the index manages to close below these levels then the index can drift to the levels of 246 to 248 where declining trend- line support for the index is lying. Minor resistance for the index lies in the zone of 260 to 262. Resistance for the index lies in the zone of 266 to 268 from where the index broke down on intraday basis. If the index manages to close above these levels then the index can move to the levels of 274 to 276 where the index has formed a top in the month of May-2017. Broad range for the index is seen between 250 to 252 on downside & 270 to 272 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 negative note losing around 0.50%. As we have mentioned last week that minor support for the index lies in the zone of 3070 to 3090. Support for the index lies in the zone of 3020 to 3040 from where the index broke out of February-2017 highs and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 2900 to 2920 where Fibonacci levels and 200 Daily moving averages are lying. During the week the index manages to hit a low of 3068 and close the week around the levels of 3096. Minor support for the index lies in the zone of 3070 to 3090. Support for the index lies in the zone of 3000 to 3020 from where the index broke out of February-2017 highs. If the index manages to close below these levels then the index can drift to the levels of 2900 to 2920 where Fibonacci levels and 200 Daily moving averages are lying. Minor resistance for the index lies in the zone of 3100 to 3120. Resistance for the index lies in the zone of 3160 to 3200 from where the index broke down on intraday basis and short term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 3250 to 3300 where the index has made a double top pattern and Fibonacci extension is lying. Broad range for the index is seen between 2950 to 2980 on downside & 3200 to 3230 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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