SEBI Regn.No.INH100002961

Nifty reclaimed 9700, one more opportunity to exit longs


Weekly Review (8/7/2017)

Sensex (30361) / Nifty (9666)

Future outlook

In the week gone by, our markets gave a smart recovery from the recent low of 9448.75; in fact, due to Thursday’s move, the Nifty made yet another successful attempt to test the 9700 mark. As a result, the Nifty managed to surpass the strong resistance of 9630 – 9650 with an ease. This move was slightly unexpected for us; but despite this development, two consecutive narrow range candles after kissing 9700 does not give any comfort to change our cautious stance on the market.

We would like to highlight few notable observations that are holding us back.

1) We can see a breakdown from the small ‘Upward Sloping Channel’ and prices are continuously resisting at the lower trend line of the pattern.

2) We are meticulously observing the placement of ‘Parabolic SAR’ indicator which turned into a ‘Sell’ mode last week. The Nifty is now placed tad below the higher end of this indicator. And

3) The daily ‘RSI- Smoot hened’ has bounced towards its breakdown point, which we believe would act a strong resistance. Considering all these evidences, we still believe that it would be a daunting task to overcome the hurdle of 9700 – 9720 in the near term.

Hence, we would continue to advise staying light in the market (at least index specific longs should be avoided) and should focus on individual stocks in order to get better trading opportunities. On the flip side, 9640 – 9600 are seen as immediate support levels; but, with a near term view, these levels may get breached soon and index may slip towards 9450 – 9340 levels.

 

Symbol Last Close SUP.3 SUP.2 SUP.1 PIVOT RES.1 RES.2 RES.3 52W HIGH 52W LOW 365 Days % Change 30 Days % Change
3 NIFTY 50 9674.6 9582 9611 9642.8 9671.7 9703.5 9732.5 9764.3 9709.3 7893.8 16.06 2.43
4 INFRATEL 415 386.1 392.3 403.7 409.9 421.3 427.5 438.9 416.2 281.8 15.82 8.51
5 SBIN 280.9 268 271.3 276.1 279.4 284.2 287.5 292.3 315.3 216.5 25.66 -2.23
6 IBULHSGFIN 1081.3 1015.2 1036.8 1059 1080.6 1102.9 1124.5 1146.7 1187.4 616.6 59.31 -7.6
7 ITC 337.1 325.2 328.3 332.7 335.7 340.1 343.2 347.6 354.8 222 38.41 6.19
8 COALINDIA 251.5 242.4 244.8 248.1 250.5 253.8 256.2 259.5 350 242.6 -21.88 -4.93
9 MARUTI 7476.8 7280.8 7328.5 7402.6 7450.3 7524.4 7572.1 7646.2 7498 4125 79.15 4.93
10 BHARTIARTL 381.2 366.9 370.4 375.8 379.3 384.7 388.2 393.6 401 283.1 4.18 2.36
11 AMBUJACEM 256.2 248.5 250.9 253.5 255.9 258.5 260.9 263.5 281.7 191 1.05 6.59
12 ACC 1612.7 1559.9 1573.9 1593.3 1607.4 1626.8 1640.8 1660.2 1756.7 1256.6 1.47 -2.01
13 TATAMOTORS 436.6 429 431.4 434 436.4 439 441.4 444 598.4 417.3 -5.27 -8.69
14 BANKBARODA 162.2 156.1 158.7 160.5 163.1 164.9 167.5 169.3 202.5 135.3 1.72 -9.18
15 HDFC 1642.8 1595 1609 1625.9 1640 1656.9 1670.9 1687.8 1682.2 1183.2 30.31 2.28
16 TATASTEEL 554.1 541.1 545 549.6 553.5 558.1 562 566.6 557.5 312.1 66.07 12.78
17 AUROPHARMA 683 668.3 673.2 678.1 683.1 688 692.9 697.8 895 503.1 -11.41 15.19
18 HDFCBANK 1659 1640.9 1646.1 1652.5 1657.8 1664.2 1669.4 1675.8 1716 1158 42.33 1.43
19 TATAMTRDVR 266.4 262.7 263.9 265.1 266.3 267.6 268.8 270 378.2 257.5 -10.17 -7.58
20 ULTRACEMCO 4111 4012.4 4039.7 4075.3 4102.7 4138.3 4165.6 4201.2 4533.1 3050 21.8 -1.61
21 ZEEL 502 496 497.8 499.9 501.7 503.8 505.6 507.7 589.9 427.7 8.67 -4.32
22 DRREDDY 2676.6 2615.9 2629 2652.8 2665.9 2689.7 2702.8 2726.6 3689.9 2380.4 -22.43 5.55
23 HCLTECH 840.6 830 832.9 836.7 839.6 843.4 846.3 850.1 909.6 710.3 13.83 -2.11
24 BAJAJ-AUTO 2726 2700.8 2711.9 2718.9 2730 2737 2748.1 2755.1 3120 2510 4.36 -5.95
25 HEROMOTOCO 3722.8 3668.5 3688.3 3705.5 3725.3 3742.5 3762.3 3779.5 3880.6 2849.5 19.66 -2.92
26 BOSCHLTD 23800 23187.2 23349.6 23574.8 23737.2 23962.4 24124.8 24350 25670.9 17671.6 5.6 -0.39
27 TATAPOWER 82 81.1 81.5 81.7 82.1 82.4 82.8 83 91.2 67 10.3 1.17
28 INDUSINDBK 1520 1492.3 1499.2 1509.6 1516.6 1527 1533.9 1544.3 1538 1036.7 37.3 0.98
29 ASIANPAINT 1129 1107.1 1117.5 1123.2 1133.6 1139.4 1149.8 1155.5 1227.3 851.1 14.61 -2.8
30 AXISBANK 509.5 502.8 505.5 507.5 510.2 512.2 514.9 516.9 638.3 424.4 -5.6 -0.82
31 ICICIBANK 293.1 289.2 290.8 291.9 293.5 294.7 296.3 297.4 297.6 215.1 31.54 0.83
32 LT 1695 1671.2 1680.8 1687.9 1697.4 1704.5 1714.1 1721.2 1834 1295.1 7.54 -6.09
33 RELIANCE 1442 1424.7 1431.3 1436.7 1443.3 1448.7 1455.3 1460.7 1467.8 930 45.2 8.47
34 YESBANK 1504.1 1469.1 1482 1493.1 1506 1517.1 1530 1541.1 1651.9 1090.6 33.53 -1.28
35 KOTAKBANK 958.5 945.3 949.7 954.1 958.5 962.9 967.3 971.7 1004.7 692.5 29.45 -0.88
36 VEDL 260.9 255.8 257.8 259.4 261.4 263 265 266.6 278.1 135.9 90.3 13.73
37 LUPIN 1081.9 1037.1 1056.8 1069.4 1089.1 1101.6 1121.3 1133.9 1750 1036.2 -30.78 -6.43
38 ADANIPORTS 372.1 366.3 368.9 370.5 373.1 374.6 377.2 378.8 377.7 204.6 73.41 3.05
39 TCS 2350.1 2317.7 2328.9 2339.5 2350.7 2361.3 2372.5 2383.1 2744.8 2051.9 -5.44 -9.75
40 BPCL 660 650.5 654 657 660.5 663.5 667 670 769.3 543.6 20.22 -9.41
41 POWERGRID 209.3 206.5 207.8 208.5 209.8 210.5 211.8 212.5 215 160.2 29.8 1.95
42 TECHM 375.8 366.4 369.8 372.8 376.1 379.1 382.5 385.5 523.8 356.7 -27.06 -6.69
43 HINDUNILVR 1092.1 1076.4 1081.4 1086.7 1091.7 1097 1102 1107.3 1129 782 22.67 -0.52
44 INFY 946.8 928.9 936.5 941.7 949.3 954.5 962.1 967.3 1196.1 901 -19.45 -1.25
45 ONGC 162.1 157 158.6 160.3 161.9 163.6 165.2 166.9 211.8 144.7 5.34 -7.8
46 WIPRO 256.5 250.7 253.3 254.9 257.5 259.1 261.7 263.3 288.9 204.1 -9.2 -7.66
47 CIPLA 543 531.6 535.9 539.4 543.7 547.2 551.5 555 621.3 480.2 7.1 1.53
48 GAIL 361.1 350.4 353.9 357.5 361 364.5 368 371.6 433.7 268.3 -6.6 -9.28
49 NTPC 158 155.5 156.2 157.1 157.9 158.8 159.5 160.4 178.3 142.9 3.54 -2.83
50 EICHERMOT 27836.3 26952.5 27266.8 27551.5 27865.8 28150.5 28464.8 28749.5 30051 19300 43.25 -5.08
51 SUNPHARMA 545.9 533 538.2 542.1 547.3 551.1 556.3 560.2 855 492.7 -29.52 6.45
52 M&M 1371 1339 1354.5 1362.7 1378.2 1386.4 1401.9 1410.1 1509 1141.4 -6.08 -3.71
53 HINDALCO 196.5 191.8 194 195.2 197.4 198.7 200.9 202.1 210.4 123.3 58.92 -0.3

www.BigProfitbuzz.com

Facebook Iconfacebook like buttonYouTube IconTwitter Icontwitter follow button