Weekly Outlook for Nifty IT and its main components (27/06/2017 to 30/06/2017)

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Information about Weekly Outlook for Nifty IT and its main components (27/06/2017 to...

Published on June 24, 2017

Author: equitypandit

Source: slideshare.net

1. DATE: 23/06/2017 WEEKLY OUTLOOK FOR NIFTY IT AND ITS MAIN COMPONENTS (27/06/2017 - 30/06/2017) © 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. PAGE 2 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Nifty IT index closed the week on negative note losing around 0.20%. As we have mentioned last week that resistance 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 above these levels then the index can move to the levels of 10500 to 10600 where trend-line resistance and Fibonacci levels for the index is lying. During the week the index manages to hit a high of 10355 and close the week around the levels of 10171. Support for the index lies in the zone of 10000 to 10100 where Fibonacci levels and 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 9850 to 9900 where the index has formed a bottom in the month of April-2017. Resistance 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 above these levels then the index can move to the levels of 10500 to 10600 where trend-line resistance and Fibonacci levels for the index is lying. Broad range for the index in the coming week is seen from 9850 to 9900 on downside & 10500 to 10600 on upside. NIFTY IT

3. PAGE 3 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com INFY closed the week on positive note gaining around 0.30%. As we have mentioned last week that minor resistance for the stock lies in the zone of 950 to 955. Resistance for the stock lies in the zone of 970 to 980 where Fibonacci level and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying. During the week the stock manages to hit a high of 969 and close the week around the levels of 943. Support for the stock lies in the zone of 935 to 945 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where the stock has taken support in the month of November-2016, January-2017 and April- 2017. Minor resistance for the stock lies in the zone of 950 to 955. Resistance for the stock lies in the zone of 970 to 975 where Fibonacci level and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of around 990 to 1000 where Fibonacci level and 200 Daily moving averages are lying. Broad range for the stock in the coming week is seen between 900 to 910 on downside & 970 to 980 on upside. INFY

4. PAGE 4 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com TCS closed the week on negative note losing around 1.60%. As we have mentioned last week that minor resistance for the stock lies in the zone of 2420 to 2430. Resistance for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2580 to 2600 where the stock has formed a top in the month of March-2017. During the week the stock manages to hit a high of 2449 and close the week around the levels of 2362. Support for the stock lies in the zone of 2360 to 2380 where 200 Daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2310 to 2330 where trend-line support and Fibonacci levels are lying. Minor resistance for the stock lies in the zone of 2400 to 2420. Resistance for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2580 to 2600 where the stock has formed a top in the month of March-2017. Broad range for the stock in the coming week is seen between 2300 to 2330 on downside & 2420 to 2450 on upside. TCS

5. PAGE 5 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com HCL Tech closed the week on positive note gaining around 1.50%. As we have mentioned last week that minor resistance for the stock lies in the zone of 845 to 848. Resistance for the stock lies in the zone of 858 to 862 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying. During the week the stock manages to hit a high of 858 and close the week around the levels of 852. Support for the stock lies in the zone of 840 to 845 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 825 where Fibonacci levels, 200 daily moving averages and break out levels are lying. Resistance for the stock lies in the zone of 858 to 862 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying. Broad range for the stock in the coming week is seen between 810 to 820 on downside & 880 to 885 on upside. HCL TECH

6. PAGE 6 © EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com Wipro closed the week on positive note gaining around 0.60%. As we have mentioned last week that support for the stock lies in the zone of 250 to 252 from where the stock broke out after consolidation and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 242 to 245 where 200 daily moving averages are lying. During the week the stock manages to hit a low of 252 and close the week around the levels of 257. Support for the stock lies in the zone of 250 to 252 from where the stock broke out after consolidation and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 242 to 245 where 200 daily moving averages are lying. Resistance for the stock lies in the zone of 258 to 260 from where the stock broke out of March-2017 and April-2017 highs. If the stock manages to close above these levels then the stock can move to the levels of 264 to 266 where Fibonacci levels are lying. Broad range for the stock in the coming week is seen between 245 to 247 on downside & 265 to 267 on upside. WIPRO

7. PAGE 7 © 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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