Dailly Equity News Letter 13-8-2016

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Presentation Description

Nifty performed well for the course of day. As forecasted we saw some good buying in the index today and nifty becomes the buyers choice


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2016 Star India Market Research 8/13/2016 Daily Nifty News Letter Nifty performed well for the course of day. As forecasted we saw some good buying in the index today and nifty becomes the buyers choice.

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Outlook Of Nifty/bank nifty today Nifty Outlook: Nifty performed well for the course of day. As forecasted we saw some good buying in the index today and nifty becomes the buyers choice. We saw a nice pull in the price but 8700 was a challenging handle to get a breakthrough. Talking for the week a red candle was formed on chart in a hammer pattern. On weekly frame we are moving on a strict trend line and if this trend line gets broken we would see a big fall in coming days. Bank Nifty: Banking sector was the most volatile and profitable sector for the day. As forecasted yesterday we saw a green move where the day gave good result for SBIN Bank of India Dena Bank Oriental Bank Bank Of Maharashtra and many more this gave a good opportunity for the trades to make some good bugs for their pocket. Looking on the weekly chart we are moving on the high of 2016 with a sharp uptrend form a long time where 19250 becomes a major restriction for the breakout. On lower side 18600 still behaves as an important support. Nifty Resistance Support R1 / R2 8700/8750 S1 / S2 8610/8570

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Technical Outlook Nifty Day Performance Open 8614.00 High 8702.50 Low 8613.95 Close 8678.40 Top Gainers SBIN 243.60 AXISBANK 589.55 YESBANK 1291.00 TATAMOTORS 516.00 Top Losers BPCL 579.65 INFY 1061.60 CIPLA 512.90 TECHM 489.10

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