Share Market Tips for – Wednesday, November 30, 2016

equitypandit_square

Nifty Sill In Positive Zone, Go Long At Dips Until Nifty Holds 8060 By Closing

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Nifty entered positive zone and traders can go long in Nifty. EquityPandit also predicted that traders can avoid BankNifty as it would remain in pressure and exactly same happened. Indian Stock Market moved sharply positive but BankNifty remained under pressure. Nifty saw highs right below EquityPandit’s predicted resistance levels of 8200 like a dot and almost achieved EquityPandit’s target of 8200 for Nifty. BankNifty saw lows right at EquityPandit’s predicted support levels of 18180 levels like a dot. Traders, who followed EquityPandit’s advice to go long in Nifty might have earned whopping profits for the day. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market would open flat. Technically, Nifty is still in positive zone. Nifty closed below 8150 levels and hence Market can see some selling pressure. Nifty possess strong support at 8060 levels and closing below these levels can again force Nifty to enter into negative zone. BankNifty is already in negative zone and would see reversal (would enter positive zone) only if it closes above 18651 levels. So, for now traders can go long at dips in Nifty near EquityPandit’s support levels with strict stoploss of 8060 on closing basis. Nifty has witnessed strong resistance at 8200 levels where profit booking was seen. Nifty looks strong for now but due to higher weightage of banking stocks in Nifty, it is seeing profit booking at higher levels. Nifty would see some pressure below 8150 levels. BankNifty would be sell on positive rally until it closes above 18651 levels.
FIIs were net sellers of Rs.715.30 crores whereas DIIs were net buyers of Rs.534.20 crores in cash market for last trading session. Nifty would see strong support at 8100-8050-7997-7975-7935 whereas strong resistance would be seen at 8154-8200-8220-8288 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results To Be Disclosed Today: Balkrishna Industries, Gujarat State Petronet Ltd., GVK Power & Infrastructure and Punj Lloyd Ltd.

NSE Nifty: (8142) The support for the Nifty is 8100-8050-7997-7975-7935 and the resistance to the up move is at 8154-8200-8220-8288 levels.

NSE BankNifty: (18223) The support for BankNifty is at 18180-18140-18050-17980 and the resistance to the up move is at 18470-18540-18690-18780 levels.

BSE Sensex: (26394) The support for the Sensex is at 26280-26180-26124-26060 and the resistance to the up move is at 26450-26540-26622-26809 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Tuesday, November 29, 2016

equitypandit_square

Nifty Enters Positive Zone, Go Long In Nifty At Every Dip, Avoid BankNifty

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that BankNifty would see downfall and suggested traders to go short at every positive rally and exactly same happened. Indian Stock Market opened gap negative and saw lows right near EquityPandit’s predicted support levels of 26180 like a dot. Market recovered and Nifty saw highs right below EquityPandit’s predicted resistance levels of 8154. Sensex also closed right on EquityPandit’s predicted resistance levels of 26349 like a dot. Finally, Indian Stock Market closed gap positive for the day but BankNifty closed gap negative for the day.

Today: Indian Stock Market would open flat. Now, Nifty has entered into positive zone and traders can go long in Nifty at this point of time. Nifty would be supported by IT and Pharma on rising US Dollar prices and falling Rupee. Banking sector is still struggling with the direction. Traders should avoid trading in BankNifty until it closes above 18700 levels. Trades can go long in Nifty at every dip in the market with stoploss of 7998 on closing basis. Nifty may see next target of 8200-8220 levels.
FIIs were net sellers of Rs.1436.40 crores whereas DIIs were net buyers of Rs.1233.79 crores in cash market for last trading session. Nifty would see strong support at 8100-8050-7997-7975-7935 whereas strong resistance would be seen at 8154-8200-8220-8288 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results To Be Disclosed Today: Tamil Nadu Newsprint & Papers Ltd and Tata Power Company Ltd.

NSE Nifty: (8127) The support for the Nifty is 8100-8050-7997-7975-7935 and the resistance to the up move is at 8154-8200-8220-8288 levels.

NSE BankNifty: (18301) The support for BankNifty is at 18180-18140-18050-17980 and the resistance to the up move is at 18470-18540-18690-18780 levels.

BSE Sensex: (26350) The support for the Sensex is at 26280-26180-26124-26060 and the resistance to the up move is at 26450-26540-26622-26809 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Monday, November 28, 2016

equitypandit_square

BankNifty To See Downfall On RBI Announcement Of Incremental CRR, Go Short Until Nifty Closes Above 8120

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market would start New F&O contracts with a sharp bounce back. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted reversal levels of 8120 levels like a dot. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 18540 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open gap negative. Indian Stock Market is still in negative zone. RBI has introduced Incremental CRR at 100 percent to control the excess liquidity in the market. This is a big negative news for the banking sector as they would have to pay interest of 4% to the customers for new deposits while banks would not get any interest on it from RBI. BankNifty would react to this news and would see a downfall. EquityPandit already suggested traders to go short at every positive movement if Nifty doesn’t closes above 8120 and same happened. Nifty closed below EquityPandit’s suggested levels and hence traders who shorted in the market might get good chance to book huge profits today. Traders should continue to short at every positive movement until Nifty closes above 8120 levels and BankNifty closes above 18700 levels. Market would be considered as taken reversal only if it close above these levels and traders should initiate long positions only if the reversal take place.
FIIs were net sellers of Rs.372.88 crores whereas DIIs were net buyers of Rs.997.84 crores in cash market for last trading session. Nifty would see strong support at 8050-7997-7975-7935-7897 whereas strong resistance would be seen at 8120-8154-8200-8220 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Cox & Kings, HFCL, Oil India Ltd, Sadbhav Engineering and Timken India Ltd.

NSE Nifty: (8114) The support for the Nifty is 8050-7997-7975-7935-7897 and the resistance to the up move is at 8120-8154-8200-8220 levels.

NSE BankNifty: (18507) The support for BankNifty is at 18368-18284-18140-18050-17980 and the resistance to the up move is at 18540-18690-18780 levels.

BSE Sensex: (26316) The support for the Sensex is at 26180-26124-26060-25870-25760 and the resistance to the up move is at 26349-26450-26540-26622 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Colgate Palmolive Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Colgate Palmolive for the week (November 28, 2016 – December 02, 2016) :

COLGATE PALMOLIVE:

 

colpal

 

Colgate Palmolive closed the week on positive note gaining around 0.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 940 to 950 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990. During the week the stock manages to hit a high of 938 and close the week around the levels of 924.

Support for the stock lies in the zone of 900 to 910 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 860 from where the stock has broken out of the consolidation zone from February-2016 to May-2016.

Resistance for the stock lies in the zone of 940 to 950 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990.

Broad range for the stock is seen between 890 to 900 on lower end and 950 to 960 on upper end.

Dabur Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for DABUR for the week (November 28, 2016 – December 02, 2016) :

DABUR:

 

dabur

 

Dabur closed the week on negative note losing around 1.10%.

As we have mentioned last week that support for the stock lies in the zone of 278 to 280 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where 500 Daily SMA is lying. During the week the stock manages to hit a low of 274 and close the week around the levels of 275.

Support for the stock lies in the zone of 270 to 272 where the stock has taken support in the month of October-2016 and November-2016. If the stock manages to close below these levels then the stock will break down from the 2 months of consolidation and the stock can drift to the levels of 260 to 262 levels from where the stock has broken out in the month of April-2016.

Resistance for the stock lies in the zone of 282 to 284 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 295 to 298.

Broad range for the stock is seen between 268 to 270 on lower end and 285 to 290 on upper end.

Hindustan Unilever Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Hindustan Unilever for the week (November 28, 2016 – December 02, 2016) :

HINDUSTAN UNILEVER:

 

hind

 

HIND Unilever closed the week on positive note gaining around 3.80%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 825 to 830. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 838 and close the week around the levels of 834.

Minor support for the stock lies in the zone of 815 to 820. Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

Minor resistance for the stock lies in the zone of 840 to 845. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 800 to 810 on downside and 850 to 855 on upside.

ITC Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for ITC for the week (November 28, 2016 – December 02, 2016) :

ITC:

 

itc

 

ITC closed the week on positive note gaining around 0.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 232 to 234 where 200 Daily SMA and the lows of October-2016 are lying. If the stock manages to close above these levels then the stock can move to the levels of 240 to 243 where medium term moving averages are lying. During the week the stock manages to hit a high of 230 and close the week around the levels of 229.

Support for the stock lies in the zone of 225 to 227 from where the stock broke out of the consolidation zone from December-2015 to May-2016. If the stock manages to close below these levels then the stock can drift to the levels of 200.

Resistance for the stock lies in the zone of 232 to 234 where 200 Daily SMA and the lows of October-2016 are lying. If the stock manages to close above these levels then the stock can move to the levels of 240 to 243 where medium term moving averages are lying.

Broad range for the stock in coming week is seen between 218 to 220 on downside and 234 to 236 on upside.

Cipla Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Cipla for the week (November 28, 2016 – December 02, 2016) :

CIPLA:

 

cipla

 

CIPLA closed the week on positive note gaining around 2.60%.

As we have mentioned last week that support for the stock lies in the zone of 530 to 540 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has formed a bottom in the month of July – 2016 and August – 2016. During the week the stock manages to hit a low of 542 and close the week around the levels of 570.

Minor support for the stock lies in the zone of 552 to 555. Support for the stock lies in the zone of 530 to 540 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has formed a bottom in the month of July – 2016 and August – 2016.

The stock has closed around the resistance zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down.

Broad range for the stock is seen in the range of 545 – 550 on downside to 580 – 585 on upside.

Dr. Reddy Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Dr. Reddy for the week (November 28, 2016 – December 02, 2016) :

DR. REDDY:

 

drr

 

Dr Reddy closed the week on negative note losing around 1.40%.

As we have mentioned last week that support for the stock lies in the zone of 3150 to 3170 where medium term and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 3000 to 3010 where the stock has formed a top in the month of October – 2016. During the week the stock manages to hit a low of 3075 and close the week around the levels of 3168.

Support for the stock lies in the zone of 3150 to 3170 where medium term and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 3000 to 3010 where the stock has formed a top in the month of October – 2016.

Minor resistance for the stock lies in the zone of 3200 to 3230. Resistance for the stock lies in the zone of 3350 to 3400 where the stock has formed a top in the month of October-2016. If the stock manages to close above these levels then the stock can move to the levels of 3450 to 3500.

Broad range for the stock is seen from 3070 – 3100 on downside to 3270 – 3300 on upside.

Lupin Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Lupin for the week (November 28, 2016 – December 02, 2016) :

LUPIN:

 

lupin

 

Lupin closed the week on positive note gaining around 6.40%.

As we have mentioned last week that support for the stock lies in the zone of 1380 to 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016. During the week the stock manages to hit a low of 1391 and close the week around the levels of 1509.

Minor support for the stock lies in the zone of 1460 to 1480. Support for the stock lies in the zone of 1420 to 1440 from where the stock has broken out of the consolidation zone on intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 1380 to 1400 where the stock has made a bottom in the month of June – 2016.

Minor resistance for the stock lies in the zone of 1520 to 1540. Resistance for the stock lies in the zone of 1550 to 1570 where the stock has formed a double top pattern and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 1600.

Broad range for the stock is seen from 1420 – 1440 on downside to 1550 – 1560 on upside.

Sun Pharma Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Sun Pharma for the week (November 28, 2016 – December 02, 2016) :

SUN PHARMA:

 

sun

 

SUN PHARMA closed the week on positive note gaining around 3.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 700 to 710 where trend-line joining lows of November-2015 and June-2016 is lying. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730 from where the stock has broken down from the lows of September-2016 and October-2016. During the week the stock manages to hit a high of 717 and close the week around the levels of 714.

Minor support for the stock lies in the zone of 680 to 690. Support for the stock lies in the zone of 655 to 660 where the stock has taken multiple support on intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 640 to 650 where the stock has formed a gap on 27/06/2014 and also the stock has broken out of the double top pattern formed in October – 2013 and February – 2014. It seems that the stock should hold these support zone.

Resistance for the stock lies in the zone of 700 to 710 where trend-line joining lows of November-2015 and June-2016 is lying. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730 from where the stock has broken down from the lows of September-2016 and October-2016.

Broad range for the stock in the coming week can be 665 – 670 on lower side to 730 – 735 on upper side.

Wipro Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Wipro for the week (November 28, 2016 – December 02, 2016) :

WIPRO:

 

wipro

 

Wipro closed the week on positive note gaining around 6.30%.

As we have mentioned last week that minor support for the stock lies in the zone of 428 to 430. The stock is in long term bear market and the stock is drifting through all the major support zones. Support for the stock lies in the zone of 400 to 410 where declining trend-line joining highs of January-2011 and April-2013 is lying. If the stock manages to close below these levels then the stock can drift to the levels of around 350. During the week the stock manages to hit a low of 437 and close the week around the levels of 465.

Support for the stock lies in the zone of 455 to 457 levels from where the stock has broken out on intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 435 to 440 levels where the stock has taken support couple of times last week.

Resistance for the stock lies in the zone of 470 to 475 from where the stock has broken down from the double bottom pattern in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 445 to 450 on downside to 475 to 480 on upside.

HCL Tech Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for HCL Tech for the week (November 28, 2016 – December 02, 2016) :

HCL TECHNOLOGIES:

 

hcl

 

HCL Tech closed the week on positive note gaining around 5.00%.

As we have mentioned last week that support for the stock lies in the zone of 750 to 760 where the stock has found support in the month of August-2016, September-2016 and October-2016. If the stock manages to close below these levels then the stock can drift to the levels of around 700 to 710 from where the stock has taken multiple support in the month of May-2016 and July-2016. During the week the stock manages to hit a low of 753 and close the week around the levels of 802.

Minor support for the stock lies in the zone of 780 to 785. Support for the stock lies in the zone of 750 to 760 where the stock has found support in the month of August-2016, September-2016 and October-2016. If the stock manages to close below these levels then the stock can drift to the levels of around 700 to 710 from where the stock has taken multiple support in the month of May-2016 and July-2016.

Resistance for the stock lies in the zone of 820 to 830 where the stock has form a top in early part of November-2016. If the stock manages to close above these levels then the stock can move to the levels of 850 to 860 levels where the stock has formed a top in the month of August-2016 and October-2016.

Broad range for the stock in the coming week is seen between 770 to 780 on downside to 830 to 840 on upside.

TCS Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for TCS for the week (November 28, 2016 – December 02, 2016) :

TATA CONSULTANCY SERVICES:

 

tcs

 

TCS closed the week on positive note gaining around 8.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern. During the week the stock manages to hit a high of 2307 and close the week around the levels of 2300.

Support for the stock lies in the zone of 2230 to 2250 from where the stock broke out on the intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 2150 to 2170 from where the stock has broken out of the consolidation zone.

The stock has closed around the resistance zone of 2260 to 2280 from where the stock broke down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 2400 to 2420 where the stock has formed a double top in the month of October-2016.

Broad range for the stock in the coming week is seen between 2200 to 2220 on downside to 2400 to 2420 on upside.

Infosys Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Infosys for the week (November 28, 2016 – December 02, 2016) :

INFOSYS:

 

infy

 

INFY closed the week on positive note gaining around 6.20%.

As we have mentioned last week that the stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 900. Major support for the stock lies in the zone of 800 to 820 where trend-line joining lows of November-2008 and April-2013 is lying. During the week the stock manages to hit a low of 907 and close the week around the levels of 977.

Minor support for the stock lies in the zone of 950 to 960. Support for the stock lies in the zone of 900 from where the stock has bounced couple of times. Major support for the stock lies in the zone of 800 to 820 where trend-line joining lows of November-2008 and April-2013 is lying.

Resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016.

Broad range for the stock in the coming week is seen between 940 to 950 on downside to 1000 to 1010 on upside.

SBI Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for SBI for the week (November 28, 2016 – December 02, 2016) :

STATE BANK OF INDIA:

 

sbin

 

SBIN closed the week on negative note losing around 5.40%.

As we have mentioned last week that Minor support for the stock lies in the zone of 270. Support for the stock lies in the zone of 263 to 265 from where the stock has broken out of the double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 246 to 248 where medium term moving averages are lying. During the week the stock manages to hit a low of 251 and close the week around the levels of 261.

Support for the stock lies in the zone of 263 to 265 from where the stock has broken out of the double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 246 to 248 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 264 to 266 levels. Resistance for the stock lies in the zone of 269 to 271 levels from where the stock has broken down from the declining triangle pattern on intraday basis. If the stock manages to close above these levels then the stock can move to the levels of 278 to 280 from where the stock has broken down.

Broad range for the stock in the coming week can be 248 to 250 on lower side to 270 to 272 on upper side.

Axis Bank Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Axis Bank for the week (November 28, 2016 – December 02, 2016) :

AXIS BANK:

 

axis

 

Axis Bank closed the week on negative note losing around 0.50%.

As we have mentioned last week that minor support for the stock lies in the zone of 468 to 470. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430. During the week the stock manages to hit a low of 458 and close the week around the levels of 471.

Minor support for the stock lies in the zone of 468 to 470. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430.

Minor resistance for the stock lies in the zone of 482 to 485. Resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 450 – 455 on lower side to 500 – 505 on upper side.

ICICI Bank Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for ICICI Bank for the week (November 28, 2016 – December 02, 2016) :

ICICI BANK:

 

icicib

 

ICICI Bank closed the week on negative note losing around 1.70%.

As we have mentioned last week that support for the stock lies in the zone of 260 to 262 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 242 where long term moving averages are lying. During the week the stock manages to hit a low of 255 and close the week around the levels of 260.

Support for the stock lies in the zone of 260 to 262 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 242 where long term moving averages are lying.

Minor resistance for the stock lies in the zone of 268 to 270. Resistance for the stock lies in the zone of 281 to 283 where 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 from where the stock has sold off in the month of October – 2015.

Broad range for the stock in the coming week can be 250 – 252 on lower side to 272 – 274 on upper side.

HDFC Bank Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for HDFC Bank for the week (November 28, 2016 – December 02, 2016) :

HDFC BANK:

 

hdfcb

 

HDFC Bank closed the week on negative note losing around 1.80%.

As we have mentioned last week that support for the stock lies in the zone of 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1150 to 1160 where the stock has taken support in the month of May-2016 and June-2016 and 200 Daily SMA is lying around these levels. During the week the stock manages to hit a low of 1158 and close the week around the levels of 1189.

Support for the stock lies in the zone of 1170 to 1175. If the stock manages to close below these levels then the stock can drift to the levels of 1150 to 1160 where the stock has taken support in the month of May-2016 and June-2016 and 200 Daily SMA is lying around these levels.

Resistance for the stock lies in the zone of 1200 to 1220 from where the stock has broken down from the lows of 15/07/2016 and 09/11/2016. If the stock manages to close above these levels then the stock can move to the levels of 1240 to 1250 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 1160 on lower side to 1220 on upper side.

Nifty Energy Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for NIFTY ENERGY for the week (November 28, 2016 – December 02, 2016) :

NIFTY ENERGY:

 

energy

 

Nifty ENERGY index closed the week on absolutely flat note.

As we have mentioned last week that resistance for the index lies in the zone of 9850 to 10000 from where the index has broken down from the lows of October – 2016. If the index manages to close above these levels then the index can move to the levels of 10200 to 10300 where the index has made a top in the month of October-2016. During the week the index manages to hit a high of 9847 and close the week around the levels of 9806.

Support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern.

Resistance for the index lies in the zone of 9850 to 10000 from where the index has broken down from the lows of October – 2016. If the index manages to close above these levels then the index can move to the levels of 10200 to 10300 where the index has made a top in the month of October-2016.

Broad range for the index is seen between 9500 to 9550 on downside to 10000 to 10100 on upside.

Nifty Auto Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for NIFTY Auto for the week (November 28, 2016 – December 02, 2016) :

NIFTY AUTO:

 

auto

 

Nifty AUTO index closed the week on negative note losing around 2.30%.

As we have mentioned last week that support for the index lies in the zone of 8550 to 8750 where long term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 8300 where the index has taken support in the month of June-2016. During the week the index manages to hit a low of 8659 and close the week around the levels of 8780.

Support for the index lies in the zone of 8550 to 8750 where long term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 8300 where the index has taken support in the month of June-2016.

Minor resistance for the index lies in the zone of 8900 to 9000. Resistance for the index lies in the zone of 9200 to 9250 where the index had a gap down opening on 15/11/2016. If the index manages to close above these levels then the index can move to the levels of 9450 to 9500 where short term and medium term moving averages are lying.

Broad range for the index is seen from 8500 to 8550 on downside to 9250 to 9300 on upside.

Nifty Pharma Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for NIFTY Pharma for the week (November 28, 2016 – December 02, 2016) :

NIFTY PHARMA:

 

pharma

 

Nifty PHARMA index closed the week on positive note gaining around 3.10%.

As we have mentioned last week that support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000. During the week the index manages to hit a low of 10586 and close the week around the levels of 11085.

Minor support for the index lies in the zone of 10800. Support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000.

Resistance for the index lies in the zone of 11200 to 11300 from where the index has broken down from the double bottom pattern and 200 Daily SMA is lying. If the index manages to close above these levels then the index can move to the levels of 11500 to 11700 levels from where the index has broken down.

Broad range for the index is seen from 10500 to 10600 on downside to 11400 to 11500 on upside.

Nifty FMCG Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for NIFTY FMCG for the week (November 28, 2016 – December 02, 2016) :  

NIFTY FMCG:

 

fmcg

 

Nifty FMCG 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 19500. Support for the index lies in the zone of 19000 to 19100 where the index has taken support in the month of March-2016 and May-2016. If the index manages to close below these levels then the index can drift to the levels of 18000 from where the index has bounced in the month of February-2016. During the week the index manages to hit a low of 19659 and close the week around the levels of 20157.

Minor support for the index lies in the zone of 19900 to 20000. Support for the index lies in the zone of 19500 to 19600 where the index has formed a short term bottom. If the index manages to close below these levels then the index can drift to the levels of 19000 to 19100 where the index has taken support in the month of March-2016 and May-2016.

Resistance for the index lies in the zone of 20500 to 20700 from where the index has broken down from the June-2016 lows and also long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 21000 to 21100 from where the index has broken down from the October-2016 lows.

Broad range for the index in the coming week is seen from 19200 to 19300 on downside to 20700 to 20800 on upside.

Nifty IT Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for NIFTY IT for the week (November 28, 2016 – December 02, 2016) :

NIFTY IT:

 

it

 

Nifty IT index ended the week on positive note gaining around 6.70%.

As we have mentioned last week that support for the index lies in the zone of 9300 to 9400 where trend-line joining the lows of April-2015, July-2015 and February-2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 8600 to 8700 from where the index has bounced in the month of May-2014. If the index manages to hold on to the trend-line support and if value buying emerges in the sector then the index can also bounce to the levels of around 10500. During the week the index manages to hit a low of 9430 and close the week around the levels of 10115.

Support for the index lies in the zone of 9700 to 9800 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 9300 to 9400 where trend-line joining the lows of April-2015, July-2015 and February-2016 is lying.

Resistance for the index lies in the zone of 10000 to 10200 from where the index has broken down from the February – 2016 lows. If the index manages to close above these levels then the index can move to the levels of around 10500 to 10600 from where the index has broken down from the double bottom pattern.

Broad range for the index in the coming week is seen from 9700 to 9800 on downside to 10300 to 10400 on upside.

Nifty Bank Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Nifty Bank for the week (November 28, 2016 – December 02, 2016) :

NIFTY BANK:

 

bank

 

Nifty Bank ended the week on negative note losing around 2.40%.

As we have mentioned last week that the index has closed just below the levels of 19000 to 19100 where medium term moving averages are lying. Support for the index lies in the zone of 18400 to 18500 where the index has taken support in the month of July-2016 & August-2016. If the index manages to close below these levels then the index can drift to the levels of 18000 to 18100 from where the index has bounced on 09/11/2016 and also long term moving averages are lying. During the week the index manages to hit a low of 18215 and close the week around the levels of 18507.

The index has closed around the support zone of 18400 to 18500 where the index has taken support in the month of July-2016 & August-2016. If the index manages to close below these levels then the index can drift to the levels of 18000 to 18100 from where the index has bounced on 09/11/2016. If the index closes below these levels then the index can drift to the levels of 17600 to 17700 where long term moving averages are lying.

Resistance for the index lies in the zone of 18800 to 19000 from where the index has broken down from the October lows and also medium term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 19500.

Range for the week is seen from 17800 to 17900 on downside to 19200 to 19300 on upside.

Nifty Outlook for the Week (November 28, 2016 – December 02, 2016)

EquityPandit’s Outlook for Nifty for week (November 28, 2016 – December 02, 2016):

NIFTY:

 

nifty

 

Nifty ended the week on positive note gaining around 0.50%.

As we have mentioned last week that the index has closed just below the 200 Daily SMA. Support for the index lies in the zone of 8000 to 8100 levels from where the index has bounced couple of times in recent past and this range is the strong support zone for the index. If the index breaks below these levels on closing basis for couple of days then the index can drift to the levels of around 7500. During the week the index manages to hit a low of 7916 and close the week around the levels of 8114.

The index has closed just below the 200 Daily SMA. Support for the index lies in the zone of 7900 to 8000 levels from where the index has bounced couple of times in recent past and this range is the strong support zone for the index. If the index breaks below these levels on closing basis for couple of days then the index can drift to the levels of around 7500.

Resistance for the index lies in the zone of 8250 to 8300 where the index can form a right shoulder of the H & S pattern. If the index manages to close above these levels then the index can move to the levels of 8450 to 8500 where neckline of the H & S pattern of 8500 to 8900 is lying.

The index can form a H & S pattern where left shoulder is from 8000 to 8300 and Head being the rally from 8000 to 8950 and a drop to the levels of 8000. So it may be possible that the index can bounce from these levels of 8000 to 8300 to complete the right shoulder.

Broad range for the week is seen from 7950 on downside to 8350 on upside.

Share Market Tips for – Friday, November 25, 2016

equitypandit_square

Market To Start New Contracts With Sharp Bounce Back, But Go Short At Every Positive Rally Until Nifty Closes Above 8120

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market is still in negative zone and would remain rangebound. EquityPandit also predicted that traders should go short at every positive movement until Nifty closes above 8154 levels and exactly same happened. Indian Stock Market opened negative and consolidated there for almost whole day as per EquityPandit’s predictions. Market fell down sharply by the end of the trading session. Traders who followed EquityPandit’s suggestion to go short, might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap positive. Indian Stock Market is still in negative zone. Market to start new F&O contracts with a sharp bounce back. US Dollar is continuously moving positive and may soon see a breakout. This is a negative news for Indian Stock Market. So strong reforms or big Interest rate cut by RBI can only create positive sentiments in market. Until then, market would continue to see selling at higher levels. Some short covering would be seen near supports but every positive movement would be an opportunity for traders to go short. Overall, market is negative and traders should short at every positive movement until Nifty closes below 8120 levels and BankNifty above 18780.
FIIs were net sellers of Rs.2010.15 crores whereas DIIs were net buyers of Rs.1648.22 crores in cash market for last trading session. Nifty would see strong support at 7935-7897-7800-7777 whereas strong resistance would be seen at 8050-8105-8154-8200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Bata India, BEML, Hathway Cable, SpiceJet and Uflex Ltd.

NSE Nifty: (7966) The support for the Nifty is 7935-7897-7800-7777 and the resistance to the up move is at 8050-8105-8154-8200 levels.

NSE BankNifty: (18256) The support for BankNifty is at 18140-18050-17980-17720 and the resistance to the up move is at 18430-18540-18690-18780 levels.

BSE Sensex: (25860) The support for the Sensex is at 25760-25624-25540-25400 and the resistance to the up move is at 26060-26131-26180-26270 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Thursday, November 24, 2016

equitypandit_square

Market Rangebound, Short At Every Positive Rally, Long Only If Nifty Closes Above 8154

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that sharp short covering rally would be seen today but overall market is negative biased. EquityPandit also predicted that every positive movement would end up in selling. EquityPandit also predicted that market would remain rangebound for next couple of days and exactly same happened. Market opened gap positive but was not able to sustain higher levels and fell down sharply. Market made lows and again moved higher but overall market remained rangebound between EquityPandit’s predicted support and resistance levels. Finally, Indian Stock Market closed positive for the day. Sensex closed right below EquityPandit’s predicted resistance levels of 26060.

Today: Indian Stock Market would open negative. Today is the F&O Expiry day and huge volatility would be seen but in a rangebound region. Technically, Indian Stock Market is still in negative zone. We would see some further short covering in the market but overall market is still negative until Nifty breaches 8154 levels and BankNifty breaches 19051 levels by closing. If Nifty managed to close above 8154 levels then we would consider that market has seen reversal and traders can go long in the market. But until then every positive movement would be an opportunity for traders to go short in the market.
FIIs were net sellers of Rs.1023.12 crores whereas DIIs were net buyers of Rs.1254.67 crores in cash market for last trading session. Nifty would see strong support at 7970-7897-7800-7777 whereas strong resistance would be seen at 8105-8154-8200-8240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Aditya Birla Fashion & Retail Ltd, Jindal Poly Films Ltd and Soven Life Sciences Ltd.

NSE Nifty: (8033) The support for the Nifty is 7970-7897-7800-7777 and the resistance to the up move is at 8105-8154-8200-8240 levels.

NSE BankNifty: (18541) The support for BankNifty is at 18440-18320-18225-18140 and the resistance to the up move is at 18690-18780-18888-19054 levels.

BSE Sensex: (26052) The support for the Sensex is at 25875-25760-25624-25540 and the resistance to the up move is at 26131-26180-26270-26350 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Wednesday, November 23, 2016

equitypandit_square

Sharp Short Covering Rally Today But Overall Market Negative Biased

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see a sharp bounce but traders should go short at every positive rally would end up in selling and exactly same happened. Indian Stock Market opened gap positive but was not able to sustain higher levels and fell down sharply. Market managed to see strong support near 7940 levels and bounce back making new highs of the day. Finally, market closed positive for the day with Nifty closing right below EquityPandit’s predicted resistance levels of 8005 like a dot.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone. Now, since Nifty managed to close above 8002 levels, the movement get opened upto 8100-8170 levels where next resistances is placed. Remember, this is just a short-covering rally and not the positive trend, so this positive movement would not last longer. Every upmove would see selling coming in. Traders can again go short above 8100 levels for Nifty, if it comes, with strict stoploss of 8170 levels on closing basis. Nifty, if managed to close above 8170 levels then it would be considered as a reversal has taken place and we would see a big breakout in days to come. In that case traders can initiate fresh long positions. But close below 8170 levels would again end up in negative rally. For now traders can wait for some short-covering rally and again sell Nifty, BankNifty and Stocks near EquityPandit’s predicted resistance levels. Market would remain rangebound for next few days with 8105-8170 as resistance and 7895-7777 as support for Nifty. One can buy near supports and sell near resistance levels.
FIIs were net sellers of Rs.692.85 crores whereas DIIs were net buyers of Rs.1075.2 crores in cash market for last trading session. Nifty would see strong support at 7897-7800-7777-7645 whereas strong resistance would be seen at 8100-8170-8200-8240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: PC Jeweller Ltd and Siemens Ltd.

NSE Nifty: (8002) The support for the Nifty is 7897-7800-7777-7645 and the resistance to the up move is at 8100-8170-8200-8240 levels.

NSE BankNifty: (18549) The support for BankNifty is at 18320-18225-18140-18045 and the resistance to the up move is at 18595-18690-18780-18888 levels.

BSE Sensex: (25960) The support for the Sensex is at 25760-25624-25540-25430 and the resistance to the up move is at 26000-26060-26180-26270 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Tuesday, November 22, 2016

equitypandit_square

Sharp Bounce Back To Be Seen But Go Short At Every Positive Rally

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still negative and one should go short at every positive rally. EquityPandit also predicted that BankNifty has highest premium and hence it is prone to a big downfall risk with target of 18500 and exactly same happened. Indian Stock Market opened flat and moved positive but was not able to sustain higher levels as per EquityPandit’s predictions. Market saw a free fall and BankNifty fell down around 700 points on intraday basis. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. EquityPandit was first to predict the market breakdown and suggested traders to go short at 19800 levels for BankNifty and 8500 for Nifty. Finally, Indian Stock Market closed gap negative for the day with Nifty closing right above EquityPandit’s predicted support levels of 7927 like a dot.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone. We would surely see market bouncing from yesterday’s closing on effect of short covering but still the bounce should be shorted into. Traders should go short at every positive movement. Next target for Nifty would be at 7897-7780 breaching which Nifty would see levels of 7645-7500 levels. BankNifty is still at premium and should fell down very sharply for the targets of 18100-17800 levels. Traders can wait for some short-covering rally and then short BankNifty to gain huge profits. Every positive rally would be an opportunity for traders to go short. The trade for now is to go short at every positive rally. Investors should keep cash in hand for now and wait for the right opportunity to enter into the market.
FIIs were net sellers of Rs.1310.82 crores whereas DIIs were net buyers of Rs.1211.01 crores in cash market for last trading session. Nifty would see strong support at 7897-7800-7777-7645 whereas strong resistance would be seen at 7985-8005-8100-8150-8200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Allcargo Logistics, Birla Corporation, IRB Infrastructure, JBF Industries, Larsen & Toubro Ltd and Siti Networks.

NSE Nifty: (7929) The support for the Nifty is 7897-7800-7777-7645 and the resistance to the up move is at 7985-8005-8100-8150-8200 levels.

NSE BankNifty: (18446) The support for BankNifty is at 18225-18140-18045-17800 and the resistance to the up move is at 18595-18690-18780-18888 levels.

BSE Sensex: (25765) The support for the Sensex is at 25624-25540-25430-25380 and the resistance to the up move is at 25870-26000-26060-26180 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Monday, November 21, 2016

equitypandit_square

Market Still Negative, BankNifty Below 19000, Go Short At Every Positive Rally

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that there is a strong chance that Market may see sharp bounce but every sort covering would end in new selling in the market that would again end up in further fall in the market and exactly same happened. Traders, who followed EquityPandit’s advice to go short at every positive movement might have earned whopping profits for the day. BankNifty closed just above EquityPandit’s predicted support levels of 18940 for the day. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. BankNifty has highest premium and hence it is prone to a big downfall risk. BankNifty if managed to hold below 19000 levels then we could see next target of 18800-18500 levels just in days to come. We could even witness levels of 18100 in upcoming weeks. Since we have entered into F&O Expiry week, we would see huge volatility in market. Breaching 8000 levels for Nifty could be a big risk to Indian Stock Market and if that happens, we would see a sharp downfall in the market, where BankNifty would fall the most. Traders are suggested to short at every positive movement in the market until reversal is seen in the market. Reversal would be seen only if Nifty managed to close above 8269 levels.

FIIs were big seller in the market for the whole month and has seen selling worth around 12,000 crores in this month in Cash Market.
FIIs were net sellers of Rs.926.32 crores whereas DIIs were net buyers of Rs.1143.44 crores in cash market for last trading session. Nifty would see strong support at 8039-8000-7927-7800 whereas strong resistance would be seen at 8150-8200-8250-8289-8345 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: GE Power, Ingersoll-Rand India Ltd, National Aluminium Company Ltd and Sobha Ltd.

NSE Nifty: (8074) The support for the Nifty is 8039-8000-7927-7800 and the resistance to the up move is at 8150-8200-8250-8289-8345 levels.

NSE BankNifty: (18959) The support for BankNifty is at 18824-18734-18610-18533 and the resistance to the up move is at 19030-19160-19376-19440 levels.

BSE Sensex: (26150) The support for the Sensex is at 26128-26060-25911-25770 and the resistance to the up move is at 26350-26471-26560-26687-26822 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Colgate Palmolive Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Colgate Palmolive for the week (November 21, 2016 – November 25, 2016) :

COLGATE PALMOLIVE:

 

colpal

 

Colgate Palmolive closed the week on negative note losing around 3.30%.

As we have mentioned last week that support for the stock lies in the zone of 935 to 940 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where 200 Daily SMA is lying. During the week the stock manages to hit a low of 895 and close the week around the levels of 917.

Support for the stock lies in the zone of 900 to 910 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 850 to 860 from where the stock has broken out of the consolidation zone from February-2016 to May-2016.

Resistance for the stock lies in the zone of 940 to 950 where medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990.

Broad range for the stock is seen between 850 to 860 on lower end and 940 to 950 on upper end.

Dabur Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for DABUR for the week (November 21, 2016 – November 25, 2016) :

DABUR:

 

dabur

 

Dabur closed the week on negative note losing around 0.70%.

As we have mentioned last week that support for the stock lies in the zone of 278 to 280 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where 500 Daily SMA is lying. During the week the stock manages to hit a low of 269 and close the week around the levels of 278.

Support for the stock lies in the zone of 278 to 280 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where 500 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 288 to 290 where short term moving averages are lying. Resistance for the stock lies in the zone of 298 to 300 from where the stock has retraced 3 to 4 times. If the stock manages to close above these levels then the stock can move to the levels of 320.

Broad range for the stock is seen between 268 to 270 on lower end and 288 to 290 on upper end.

Hindustan Unilever Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Hindustan Unilever for the week (November 21, 2016 – November 25, 2016) :

HINDUSTAN UNILEVER:

 

hind

 

HIND Unilever closed the week on absolutely flat note.

As we have mentioned last week that support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016. During the week the stock manages to hit a low of 783 and close the week around the levels of 803.

Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

Minor resistance for the stock lies in the zone of 825 to 830. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 760 to 770 on downside and 830 to 840 on upside.

ITC Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for ITC for the week (November 21, 2016 – November 25, 2016) :

ITC:

 

itc

 

ITC closed the week on negative note losing around 6.20%.

As we have mentioned last week that minor support for the stock lies in the zone of 236 to 238. Support for the stock lies in the zone of 230 to 233 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 225 to 227 from where the stock broke out of the consolidation zone from December-2015 to May-2016. During the week the stock manages to hit a low of 227 and close the week around the levels of 228.

Support for the stock lies in the zone of 225 to 227 from where the stock broke out of the consolidation zone from December-2015 to May-2016. If the stock manages to close below these levels then the stock can drift to the levels of 200.

Resistance for the stock lies in the zone of 232 to 234 where 200 Daily SMA and the lows of October-2016 are lying. If the stock manages to close above these levels then the stock can move to the levels of 240 to 243 where medium term moving averages are lying.

Broad range for the stock in coming week is seen between 218 to 220 on downside and 234 to 236 on upside.

Cipla Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Cipla for the week (November 21, 2016 – November 25, 2016) :

CIPLA:

 

cipla

 

CIPLA closed the week on positive note gaining around 0.50%.

As we have mentioned last week that resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down. During the week the stock manages to hit a high of 565 and close the week around the levels of 551.

Support for the stock lies in the zone of 530 to 540 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has formed a bottom in the month of July – 2016 and August – 2016.

Resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down.

Broad range for the stock is seen in the range of 520 – 525 on downside to 565 – 570 on upside.

Dr. Reddy Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Dr. Reddy for the week (November 21, 2016 – November 25, 2016) :

DR. REDDY:

 

drr

 

Dr Reddy closed the week on negative note losing around 1.30%.

As we have mentioned last week that resistance for the stock lies in the zone of 3350 to 3400 where the stock has formed a top in the month of October-2016. If the stock manages to close above these levels then the stock can move to the levels of 3450 to 3500. During the week the stock manages to hit a high of 3355 and close the week around the levels of 3215.

Support for the stock lies in the zone of 3150 to 3170 where medium term and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 3000 to 3010 where the stock has formed a top in the month of October – 2016.

Resistance for the stock lies in the zone of 3350 to 3400 where the stock has formed a top in the month of October-2016. If the stock manages to close above these levels then the stock can move to the levels of 3450 to 3500.

Broad range for the stock is seen from 3100 – 3130 on downside to 3300 – 3350 on upside.

Lupin Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Lupin for the week (November 21, 2016 – November 25, 2016) :

LUPIN:

 

lupin

 

Lupin closed the week on negative note losing around 2.80%.

As we have mentioned last week that support for the stock lies in the zone of 1380 to 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016. During the week the stock manages to hit a low of 1391 and close the week around the levels of 1418.

Support for the stock lies in the zone of 1380 to 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016.

Minor resistance for the stock lies in the zone of 1440 to 1450. Resistance for the stock lies in the zone of 1500 to 1510 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where medium term moving averages are lying.

Broad range for the stock is seen from 1350 – 1360 on downside to 1480 – 1500 on upside.

Sun Pharma Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Sun Pharma for the week (November 21, 2016 – November 25, 2016) :

SUN PHARMA:

 

sun

 

SUN PHARMA closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 680 to 700 where the stock has opened gap down on 04/11/2016. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730. During the week the stock manages to hit a high of 706 and close the week around the levels of 689.

Minor support for the stock lies in the zone of 660. Support for the stock lies in the zone of 640 to 650 where the stock has formed a gap on 27/06/2014 and also the stock has broken out of the double top pattern formed in October – 2013 and February – 2014. It seems that the stock should hold these support zone. If the stock breaks below these support zone then the stock can further drift to the levels of 550 where the stock has formed a durable base in month of December – 2013 and March – 2014.

Resistance for the stock lies in the zone of 700 to 710 where trend-line joining lows of November-2015 and June-2016 is lying. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730 from where the stock has broken down from the lows of September-2016 and October-2016.

Broad range for the stock in the coming week can be 650 – 655 on lower side to 720 – 725 on upper side.

Wipro Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Wipro for the week (November 21, 2016 – November 25, 2016) :

WIPRO:

 

wipro

 

Wipro closed the week on negative note losing around 1.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 450 to 455. Resistance for the stock lies in the zone of 470 to 475 from where the stock has broken down from the double bottom pattern in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where short term moving averages are lying. During the week the stock manages to hit a high of 455 and close the week around the levels of 437.

Minor support for the stock lies in the zone of 428 to 430. The stock is in long term bear market and the stock is drifting through all the major support zones. Support for the stock lies in the zone of 400 to 410 where declining trend-line joining highs of January-2011 and April-2013 is lying. If the stock manages to close below these levels then the stock can drift to the levels of around 350.

Minor resistance for the stock lies in the zone of 450 to 455. Resistance for the stock lies in the zone of 470 to 475 from where the stock has broken down from the double bottom pattern in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 410 to 420 on downside to 455 to 460 on upside.

HCL Tech Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for HCL Tech for the week (November 21, 2016 – November 25, 2016) :

HCL TECHNOLOGIES:

 

hcl

 

HCL Tech closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 780 to 790 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where the stock has form a top in early part of November-2016. During the week the stock manages to hit a high of 788 and close the week around the levels of 764.

Support for the stock lies in the zone of 750 to 760 where the stock has found support in the month of August-2016, September-2016 and October-2016. If the stock manages to close below these levels then the stock can drift to the levels of around 700 to 710 from where the stock has taken multiple support in the month of May-2016 and July-2016.

Resistance for the stock lies in the zone of 780 to 790 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where the stock has form a top in early part of November-2016.

Broad range for the stock in the coming week is seen between 730 to 740 on downside to 780 to 790 on upside.

TCS Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for TCS for the week (November 21, 2016 – November 25, 2016) :

TATA CONSULTANCY SERVICES:

 

tcs

 

TCS closed the week on positive note gaining around 1.10%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern. During the week the stock manages to hit a high of 2209 and close the week around the levels of 2125.

Minor support for the stock lies in the zone of 2050 to 2075. The stock has seen a major break down on long term charts and virtually no support is visible. Major support for the stock lies in the zone of 1980 to 2000 where the stock has taken multiple support in March-2014 and May-2014.

Minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern.

Broad range for the stock in the coming week is seen between 1980 to 2000 on downside to 2200 to 2230 on upside.

Infosys Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Infosys for the week (November 21, 2016 – November 25, 2016) :

INFOSYS:

 

infy

 

INFY closed the week on negative note losing around 0.20%.

As we have mentioned last week that the stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 900. Major support for the stock lies in the zone of 800 to 820 where trend-line joining lows of November-2008 and April-2013 is lying. During the week the stock manages to hit a low of 909 and close the week around the levels of 920.

The stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 900. Major support for the stock lies in the zone of 800 to 820 where trend-line joining lows of November-2008 and April-2013 is lying.

Minor resistance for the stock lies in the zone of 940 to 950. Resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016.

Broad range for the stock in the coming week is seen between 890 to 895 on downside to 945 to 950 on upside.

SBI Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for SBI for the week (November 15, 2016 – November 18, 2016) :

STATE BANK OF INDIA:

 

sbin

 

SBIN closed the week on positive note gaining around 1.00%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 277 to 280. Resistance for the stock lies in the zone of 290 to 292 from where the stock has sold off in the month of August-2015. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 from where the stock sold off in the month of May-2015. During the week the stock manages to hit a high of 285 and close the week around the levels of 276.

Minor support for the stock lies in the zone of 270. Support for the stock lies in the zone of 263 to 265 from where the stock has broken out of the double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 246 to 248 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 277 to 280. Resistance for the stock lies in the zone of 290 to 292 from where the stock has sold off in the month of August-2015. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 from where the stock sold off in the month of May-2015.

Broad range for the stock in the coming week can be 250 to 255 on lower side to 290 to 292 on upper side.

Axis Bank Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Axis Bank for the week (November 21, 2016 – November 25, 2016) :

AXIS BANK:

 

axis

 

Axis Bank closed the week on negative note losing around 5.10%.

As we have mentioned last week that resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying. During the week the stock manages to hit a high of 503 and close the week around the levels of 473.

Minor support for the stock lies in the zone of 468 to 470. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430.

Minor resistance for the stock lies in the zone of 482 to 485. Resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 450 – 455 on lower side to 500 – 505 on upper side.

ICICI Bank Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for ICICI Bank for the week (November 21, 2016 – November 25, 2016) :

ICICI BANK:

 

icici

 

ICICI Bank closed the week on negative note losing around 4.30%.

As we have mentioned last week that minor support for the stock lies in the zone of 270 to 272. Support for the stock lies in the zone of 262 to 264 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 255 to 257 where medium term moving averages are lying. During the week the stock manages to hit a low of 262 and close the week around the levels of 265.

Support for the stock lies in the zone of 260 to 262 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 240 to 242 where long term moving averages are lying.

Minor resistance for the stock lies in the zone of 272 to 274. Resistance for the stock lies in the zone of 281 to 283 where 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 from where the stock has sold off in the month of October – 2015.

Broad range for the stock in the coming week can be 250 – 252 on lower side to 272 – 274 on upper side.

HDFC Bank Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for HDFC Bank for the week (November 21, 2016 – November 25, 2016) :

HDFC BANK:

 

hdfcb

 

HDFC Bank closed the week on negative note losing around 5.00%.

As we have mentioned last week that resistance for the index lies in the zone of 1280 to 1300 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1320 where the stock has made a top in the month of September – 2016. During the week the stock manages to hit a high of 1289 and close the week around the levels of 1211.

Support for the stock lies in the zone of 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1150 to 1160 where the stock has taken support in the month of May-2016 and June-2016 and 200 Daily SMA is lying around these levels.

Minor resistance for the stock lies in the zone of 1220. Resistance for the stock lies in the zone of 1240 to 1250 where short term 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 1280 to 1300 where the stock has formed a short term top.

Broad range for the stock in the coming week can be 1160 on lower side to 1250 on upper side.

Nifty Energy Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for NIFTY ENERGY for the week (November 21, 2016 – November 25, 2016) :

NIFTY ENERGY:

 

energy

 

Nifty ENERGY index closed the week on absolutely flat note.

As we have mentioned last week that support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern. During the week the index manages to hit a low of 9575 and close the week around the levels of 9797.

Support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern.

Resistance for the index lies in the zone of 9850 to 10000 from where the index has broken down from the lows of October – 2016. If the index manages to close above these levels then the index can move to the levels of 10200 to 10300 where the index has made a top in the month of October-2016.

Broad range for the index is seen between 9500 to 9550 on downside to 10000 to 10100 on upside.

Nifty Auto Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for NIFTY Auto for the week (November 21, 2016 – November 25, 2016) :

NIFTY AUTO:

 

auto

 

Nifty AUTO index closed the week on negative note losing around 3.50%.

As we have mentioned last week that support for the index lies in the zone of 9050 to 9100 where the index has formed a top in the month of January-2015. If the index manages to break below these levels then the index can drift to the levels of 8500 to 8600 where long term moving averages are lying. During the week the index manages to hit a low of 8771 and close the week around the levels of 8984.

Support for the index lies in the zone of 8550 to 8750 where long term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 8300 where the index has taken support in the month of June-2016.

Resistance for the index lies in the zone of 9200 to 9250 where the index had a gap down opening on 15/11/2016. If the index manages to close above these levels then the index can move to the levels of 9450 to 9500 where short term and medium term moving averages are lying.

Broad range for the index is seen from 8500 to 8550 on downside to 9250 to 9300 on upside.

Nifty Pharma Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for NIFTY Pharma for the week (November 21, 2016 – November 25, 2016) :

NIFTY PHARMA:

 

pharma

 

Nifty PHARMA index closed the week on negative note losing around 1.40%.

As we have mentioned last week that support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000. During the week the index manages to hit a low of 10530 and close the week around the levels of 10751.

Support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000.

Resistance for the index lies in the zone of 10900 to 11050 where the index has formed a gap on 04/11/2016 on gap down opening. If the index manages to close above these levels then the index can move to the levels of 11200 to 11300 from where the index has broken down from the double bottom pattern and 200 Daily SMA is lying.

Broad range for the index is seen from 10300 to 10400 on downside to 11300 to 11400 on upside.

Nifty FMCG Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for NIFTY FMCG for the week (November 21, 2016 – November 25, 2016) :  

NIFTY FMCG:

 

fmcg

 

Nifty FMCG index closed the week on negative note losing around 4.20%.

As we have mentioned last week that support for the index lies in the zone of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 20000 to 20200. During the week the index manages to hit a low of 19918 and close the week around the levels of 19960.

Minor support for the index lies in the zone of 19500. Support for the index lies in the zone of 19000 to 19100 where the index has taken support in the month of March-2016 and May-2016. If the index manages to close below these levels then the index can drift to the levels of 18000 from where the index has bounced in the month of February-2016.

Resistance for the index lies in the zone of 20500 to 20700 where long term moving averages are lying. If the index manages to close above these levels then the index can move to the levels of 21300 to 21500 where medium term moving averages are lying.

Broad range for the index in the coming week is seen from 19200 to 19300 on downside to 20700 to 20800 on upside.

Nifty IT Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for NIFTY IT for the week (November 21, 2016 – November 25, 2016) :

NIFTY IT:

 

it

 

Nifty IT index ended the week on positive note gaining around 0.40%.

As we have mentioned last week that support for the index lies in the zone of 9300 to 9400 where trend-line joining the lows of April-2015, July-2015 and February-2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 8600 to 8700 from where the index has bounced in the month of May-2014. During the week the index manages to hit a low of 9295 and close the week around the levels of 9476.

Support for the index lies in the zone of 9300 to 9400 where trend-line joining the lows of April-2015, July-2015 and February-2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 8600 to 8700 from where the index has bounced in the month of May-2014.

Minor resistance for the index lies in the zone of 9700 to 9800. Resistance for the index lies in the zone of 10000 to 10200 from where the index has broken down from the February – 2016 lows. If the index manages to close above these levels then the index can move to the levels of around 10500 to 10600 from where the index has broken down from the double bottom pattern.

If the index manages to hold on to the trend-line support and if value buying emerges in the sector then the index can also bounce to the levels of around 10500.

Broad range for the index in the coming week is seen from 9100 to 9200 on downside to 9800 to 9900 on upside.

Nifty Bank Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Nifty Bank for the week (November 21, 2016 – November 25, 2016) :

NIFTY BANK:

 

banknifty

 

Nifty Bank ended the week on negative note losing around 4.00%.

As we have mentioned last week that support for the index lies in the zone of 19400 to 19500 levels where the index has opened gap up on 10-11-2016. If the index manages to close below these levels then the index can drift to the levels of 19000 to 19100 where medium term moving averages are lying. During the week the index manages to hit a low of 18897 and close the week around the levels of 18959.

The index has closed just below the levels of 19000 to 19100 where medium term moving averages are lying. Support for the index lies in the zone of 18400 to 18500 where the index has taken support in the month of July-2016 & August-2016. If the index manages to close below these levels then the index can drift to the levels of 18000 to 18100 from where the index has bounced on 09/11/2016 and also long term moving averages are lying.

Resistance for the index lies in the zone of 19400 to 19500 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 19700 to 19800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 20200 to 20400 where the index has made a top in the month of September – 2016.

Range for the week is seen from 18400 to 18500 on downside to 19400 to 19500 on upside.

Nifty Outlook for the Week (November 21, 2016 – November 25, 2016)

EquityPandit’s Outlook for Nifty for week (November 21, 2016 – November 25, 2016):

NIFTY:

 

nifty

 

Nifty ended the week on negative note losing around 2.70%.

As we have mentioned last week that support for the index lies in the zone of 8000 to 8200 levels where long term moving averages are lying and this range is the strong support zone for the index. If the index breaks below these levels on closing basis for couple of days then the index can drift to the levels of around 7500. During the week the index manages to hit a low of 8048 and close the week around the levels of 8074.

The index has closed just below the 200 Daily SMA. Support for the index lies in the zone of 8000 to 8100 levels from where the index has bounced couple of times in recent past and this range is the strong support zone for the index. If the index breaks below these levels on closing basis for couple of days then the index can drift to the levels of around 7500.

Resistance for the index lies in the zone of 8250 to 8300 where the index can form a right shoulder of the H & S pattern. If the index manages to close above these levels then the index can move to the levels of 8450 to 8500 where neckline of the H & S pattern of 8500 to 8900 is lying.

The index can form a H & S pattern where left shoulder is from 8000 to 8300 and Head being the rally from 8000 to 8950 and a drop to the levels of 8000. So it may be possible that the index can bounce from these levels of 8000 to 8300 to complete the right shoulder. Coming few weeks are very crucial for the markets as the levels of 8000 may be make or break levels.

Broad range for the week is seen from 7800 on downside to 8200 on upside.

Share Market Tips for – Friday, November 18, 2016

equitypandit_square

Bulls And Bears Fight At 8000 Psychological Levels, Breakdown To Be Seen Only Below 8000 For Nifty

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market may see a sharp bounce back but it is still negative and traders should short at every positive rally and exactly same happened. Indian Stock Market moved sharply but was not able to sustain the higher levels and fell down sharply as per EquityPandit’s predictions. Market moved sharply negative and managed to close right at EquityPandit’s support of 8080 levels for Nifty. BankNifty also closed right above EquityPandit’s suport of 19080 for the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, Analysis would remain same. Indian Stock Market including Nifty, Sensex and BankNifty, all are still in negative zone. There is strong chance that market would see a sharp bounce back today as it is witnessing strong support near 19000 levels for Banknifty and 8000 levels for Nifty but every short covering would end in new selling in the market. We are witnessing Strong fight between bulls and bears at 8000 levels for Nifty and 19000 levels for BankNifty. It would be interesting to see who wins. Demonetization is supporting the bears. Market need to either close above 8289 levels for Nifty and 19734 for BankNifty to initiate a new positive movement or else close below 8000 levels for Nifty and 19000 levels for BankNifty to see a further breakdown. Until then traders should buy near 8000 for Nifty and 19000 for BankNifty and sell near EquityPandit’s predicted resistance levels maintaining the strict stoploss. Breach of 19000 for BankNifty and 8000 for Nifty would force market to see a sharp breakdown from the current levels and we can witness levels of 7800-7500 for Nifty and around 18000 levels for BankNifty. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.

FIIs were net sellers of Rs.983.93 crores whereas DIIs were net buyers of Rs.1144.15 crores in cash market for last trading session. Nifty would see strong support at 8039-8000-7927-7800 whereas strong resistance would be seen at 8150-8200-8250-8289-8345 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Gujarat Gas, JB Chemicals, NBCC, NHPC, Rashtriya Chemicals and Fertilizers Ltd.

NSE Nifty: (8080) The support for the Nifty is 8039-8000-7927-7800 and the resistance to the up move is at 8150-8200-8250-8289-8345 levels.

NSE BankNifty: (19087) The support for BankNifty is at 19080-19000-18940-18825 and the resistance to the up move is at 19330-19435-19490-19660 levels.

BSE Sensex: (26228) The support for the Sensex is at 26215-26128-26060-25950 and the resistance to the up move is at 26471-26560-26687-26822 levels.

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Share Market Tips for – Thursday, November 17, 2016

equitypandit_square

Sharp Short Covering Expected But Market Negative Until Nifty Closes Above 8330

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market would see sharp short covering but every positive movement would be an selling opportunity where traders should go short at every positive rally and exactly same happened. Indian Stock Market opened positive and saw highs just near EquityPandit’s predicted resistance levels of 8200 for Nifty. Market fell down sharply from there. BankNifty was in huge pressure and saw lows right near EquityPandit’s predicted support levels of 19080. Nifty also saw strong support at EquityPandit’s predicted support levels of 8080. Traders, who followed EquityPandit’s advice might have seen whopping profits for the day. Finally, Indian Stock Market closed flat but BankNifty closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, Analysis would remain same. Indian Stock Market including Nifty, Sensex and BankNifty, all are still in negative zone. Some bounce back can’t be ruled out at this point of time. We would see some short covering in the market but the trend is still down and would remain highly volatile. Traders should go short at every positive movement in the market. Nifty would enter into positive zone only once it closes above 8330 levels and until then its trend would remain negative and every positive movement would be a selling opportunity. 8000 levels for Nifty is a make or break level. Breaching 8000 levels for Nifty would witness a big crack in the market and we may see levels of 7500-7000 in that case. But until Nifty holds 8000 levels, there are strong chances of bounce back. Investors should keep a tight watch of reversal in Nifty and BankNifty trends and should invest only once that happens. Until then Investors should wait for further downfall and better discounted prices of bluechip companies. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.

FIIs were net sellers of Rs.1957.04 crores whereas DIIs were net buyers of Rs.2344.31 crores in cash market for last trading session. Nifty would see strong support at 8080-8000-7800 whereas strong resistance would be seen at 8200-8250-8345-8400 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: HMT Ltd, Infibeam Incorporation Ltd and Petronet LNG.

NSE Nifty: (8112) The support for the Nifty is 8080-8000-7800 and the resistance to the up move is at 8200-8250-8345-8400 levels.

NSE BankNifty: (19108) The support for BankNifty is at 19080-18950-18825 and the resistance to the up move is at 19220-19435-19490-19660 levels.

BSE Sensex: (26299) The support for the Sensex is at 26215-26128-26060-25950 and the resistance to the up move is at 26471-26560-26687-26822 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Wednesday, November 16, 2016

equitypandit_square

Sharp Short Covering To Be Seen But Sell At Positive Rally Until Nifty Holds 8371 Levels

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Market would see sharp downfall and traders should go short at every positive rally. EquityPandit also predicted that BankNifty would enter into negative zone once it breaches 19605 levels where traders should go short in BankNifty in that case and exactly same happened. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market moved sharply negative and closed gap negative just above EquityPandit’s predicted support levels of 26300 levels for Sensex and 8100 levels for Nifty like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market including Nifty, Sensex and BankNifty, all are in negative zone. We would see some short covering in the market but the trend is still down and would remain highly volatile. Traders should go short at every positive movement in the market. Nifty would enter into positive zone only once it closes above 8371 levels and until then its trend would remain negative and every positive movement would be a selling opportunity. Breaching 8000 levels for Nifty would witness a big crack in the market and we may see levels of 7500-7000 in that case. But until Nifty holds 8000 levels, there are strong chances of bounce back. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.

FIIs were net sellers of Rs.2353.82 crores whereas DIIs were net sellers of Rs.104.83 crores in cash market for last trading session. Nifty would see strong support at 8080-8000-7800 whereas strong resistance would be seen at 8200-8250-8345-8400 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Engineers India, Indraprastha Gas, Shipping Corporation Of India and Voltas Ltd.

NSE Nifty: (8108) The support for the Nifty is 8080-8000-7800 and the resistance to the up move is at 8200-8250-8345-8400 levels.

NSE BankNifty: (19290) The support for BankNifty is at 19211-19166-19080-18950-18825 and the resistance to the up move is at 19435-19490-19660-19800 levels.

BSE Sensex: (26305) The support for the Sensex is at 26215-26128-26060-25950 and the resistance to the up move is at 26471-26560-26687-26822 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Tuesday, November 15, 2016

equitypandit_square

Huge Volatility To Be Seen In The Market, Sell At Every Positive Rally

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market would see a sharp correction and traders should watch levels of 8553 on closing basis to take any long positions home and exactly same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 8280 like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat. Nifty is already in negative zone but BankNifty is in positive zone. Market is expected to open flat to negative and then would see a positive reaction but would see pressure at higher levels and fall again. Overall, huge volatility would be seen in the market for this week. So decide your trade accordingly. Market is safe until BankNifty holds 19605 levels by closing. Once it closes below those levels, market would see a sharp breakdown. Market is expected to fall further and next target for Nifty is 8100 levels breaching which Nifty would see levels of 8000. Some short covering (Positive reaction) may be seen from EquityPandit’s predicted support levels but traders can go short in Nifty at every positive movement. BankNifty would enter into negative zone once it closes below 19605 levels. Huge selling is been witnessed at every positive movement which suggest that traders and brokers are exiting huge quantity at every positive movement. So trade for now is to go short at every positive movement until both Nifty and BankNifty enters in positive zone.  Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.
FIIs were net sellers of Rs.1493.27 crores whereas DIIs were net buyers of Rs.64.72 crores in cash market for last trading session. Nifty would see strong support at 8220-8180-8100-8000 whereas strong resistance would be seen at 8345-8400-8455-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: AIA Engineering, Balrampur Chini, Container Corporation Of India, Elgi Equipments, GAIL, Gujarat Flurochemicals, HPCL, Shree Renuka Sugars, Tata Global Beverages, Triveni Turbine, Vardhman Textiles and Welspun India.

NSE Nifty: (8296) The support for the Nifty is 8220-8180-8100-8000 and the resistance to the up move is at 8345-8400-8455-8500 levels.

NSE BankNifty: (19739) The support for BankNifty is at 19605-19500-19300-19110 and the resistance to the up move is at 19880-20180-20380 levels.

BSE Sensex: (26819) The support for the Sensex is at 226720-26540-26300 and the resistance to the up move is at 26940-27030-27195 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Colgate Palmolive Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Colgate Palmolive for the week (November 15, 2016 – November 18, 2016) :

COLGATE PALMOLIVE:

 

colpal

 

Colgate Palmolive closed the week on negative note losing around 3.60%.

As we have mentioned last week that minor support for the stock lies in the zone of 955 to 965. Support for the stock lies in the zone of 935 to 940 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where 200 Daily SMA is lying. During the week the stock manages to hit a low of 899 and close the week around the levels of 949.

Support for the stock lies in the zone of 935 to 940 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where 200 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 960 to 970. Resistance for the stock lies in the zone of 990 to 1000 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 where the stock has formed a top in the month of August – 2016.

Broad range for the stock is seen between 900 to 910 on lower end and 1000 to 1010 on upper end.

Dabur Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for DABUR for the week (November 15, 2016 – November 18, 2016) :

DABUR:

 

dabur

 

Dabur closed the week on negative note losing around 6.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 299 to 301 from where the stock has sold off in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 305 to 310. During the week the stock manages to hit a high of 305 and close the week around the levels of 280.

Support for the stock lies in the zone of 278 to 280 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 270 to 272 where 500 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 288 to 290 where short term moving averages are lying. Resistance for the stock lies in the zone of 298 to 300 from where the stock has retraced 3 to 4 times. If the stock manages to close above these levels then the stock can move to the levels of 320.

Broad range for the stock is seen between 268 to 270 on lower end and 295 to 298 on upper end.

Hindustan Unilever Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Hindustan Unilever for the week (November 15, 2016 – November 18, 2016) :

HINDUSTAN UNILEVER:

 

hindu

 

HIND Unilever closed the week on negative note losing around 5.40%.

As we have mentioned last week that the stock has broken down from the major trend-line support. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 852 and close the week around the levels of 802.

Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

Minor resistance for the stock lies in the zone of 825 to 830. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 760 to 770 on downside and 830 to 840 on upside.

ITC Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for ITC for the week (November 15, 2016 – November 18, 2016) :

ITC:

 

itc

 

ITC closed the week on negative note losing around 2.40%.

As we have mentioned last week that support for the stock lies in the zone of 244 to 246 where the stock broke out of the October – 2016 top. If the stock manages to close below these levels then the stock can drift to the levels of 230 to 235 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 260 and close the week around the levels of 243.

Minor support for the stock lies in the zone of 236 to 238. Support for the stock lies in the zone of 230 to 233 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 225 to 227 from where the stock broke out of the consolidation zone from December-2015 to May-2016.

Resistance for the stock lies in the zone of 248 to 250. If the stock manages to close above these levels then the stock can move to the levels of 260 to 262.

Broad range for the stock in coming week is seen between 230 to 232 on downside and 250 to 252 on upside.

Cipla Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Cipla for the week (November 15, 2016 – November 18, 2016) :

CIPLA:

 

cipla

 

CIPLA closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down. During the week the stock manages to hit a high of 568 and close the week around the levels of 548.

Support for the stock lies in the zone of 530 to 540 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has formed a bottom in the month of July – 2016 and August – 2016.

Resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down.

Broad range for the stock is seen in the range of 520 – 525 on downside to 565 – 570 on upside.

Dr. Reddy Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Dr. Reddy for the week (November 15, 2016 – November 18, 2016) :

DR. REDDY:

 

drr

 

Dr Reddy closed the week on positive note gaining around 5.70%.

As we have mentioned last week that minor support for the stock lies in the zone of 3050 to 3060. Support for the stock lies in the zone of 3000 to 3010 where the stock has bounced in the month of October – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2900 to 2930 where the stock has formed a bottom in the month of July – 2016 and August – 2016. During the week the stock manages to hit a low of 2960 and close the week around the levels of 3256.

Support for the stock lies in the zone of 3150 to 3170 where medium term and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 3000 to 3010 where the stock has formed a top in the month of October – 2016.

Resistance for the stock lies in the zone of 3350 to 3400 where the stock has formed a top in the month of October-2016. If the stock manages to close above these levels then the stock can move to the levels of 3450 to 3500.

Broad range for the stock is seen from 3100 – 3130 on downside to 3370 – 3400 on upside.

Lupin Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Lupin for the week (November 15, 2016 – November 18, 2016) :

LUPIN:

 

lupin

 

Lupin closed the week on positive note gaining around 2.70%.

As we have mentioned last week that support for the stock lies in the zone of 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016. During the week the stock manages to hit a low of 1383 and close the week around the levels of 1459.

Support for the stock lies in the zone of 1380 to 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016.

Resistance for the stock lies in the zone of 1500 to 1510 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where medium term moving averages are lying.

Broad range for the stock is seen from 1380 – 1400 on downside to 1530 – 1540 on upside.

Sun Pharma Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Sun Pharma for the week (November 15, 2016 – November 18, 2016) :

SUN PHARMA:

 

sun

 

SUN PHARMA closed the week on positive note gaining around 5.70%.

As we have mentioned last week that Support for the stock lies in the zone of 640 to 650 where the stock has formed a gap on 27/06/2014 and also the stock has broken out of the double top pattern formed in October – 2013 and February – 2014. It seems that the stock should hold these support zone. If the stock breaks below these support zone then the stock can further drift to the levels of 550 where the stock has formed a durable base in month of December – 2013 and March – 2014. During the week the stock manages to hit a low of 572 and close the week around the levels of 688.

Support for the stock lies in the zone of 640 to 650 where the stock has formed a gap on 27/06/2014 and also the stock has broken out of the double top pattern formed in October – 2013 and February – 2014. It seems that the stock should hold these support zone. If the stock breaks below these support zone then the stock can further drift to the levels of 550 where the stock has formed a durable base in month of December – 2013 and March – 2014.

Resistance for the stock lies in the zone of 680 to 700 where the stock has opened gap down on 04/11/2016. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730.

Broad range for the stock in the coming week can be 650 – 655 on lower side to 720 – 725 on upper side.

Wipro Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Wipro for the week (November 15, 2016 – November 18, 2016) :

WIPRO:

 

wipro

 

Wipro closed the week on negative note losing around 2.20%.

As we have mentioned last week that support for the stock lies in the zone of 450 to 455 from where the stock broke out of the consolidation zone in the year 2012 and 2013. The stock has witnessed a sharp correction from the recent highs of 575 to 600. If the support zone of 450 does not hold there is possibility that the stock can drift to the levels of 350. During the week the stock manages to hit a low of 408 and close the week around the levels of 442.

The stock is in long term bear market and the stock is drifting through all the major support zones. Support for the stock lies in the zone of 400 to 410 where declining trend-line joining January-2011 and April-2013 is lying. If the stock manages to close below these levels then the stock can drift to the levels of around 350.

Minor resistance for the stock lies in the zone of 450 to 455. Resistance for the stock lies in the zone of 470 to 475 from where the stock has broken down from the double bottom pattern in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 410 to 420 on downside to 455 to 460 on upside.

HCL Tech Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for HCL Tech for the week (November 15, 2016 – November 18, 2016) :

HCL TECHNOLOGIES:

 

hclt

 

HCL Tech closed the week on negative note losing around 4.00%.

As we have mentioned last week that support for the stock lies in the zone of 775 to 785 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 770 where the stock has found support couple of times. During the week the stock manages to hit a low of 755 and close the week around the levels of 764.

Support for the stock lies in the zone of 750 to 760 where the stock has found support in the month of August-2016, September-2016 and October-2016. If the stock manages to close below these levels then the stock can drift to the levels of around 700 to 710 from where the stock has taken multiple support in the month of May-2016 and July-2016.

Resistance for the stock lies in the zone of 780 to 790 where 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 820 to 830 where the stock has form a top in early part of November-2016.

Broad range for the stock in the coming week is seen between 730 to 740 on downside to 780 to 790 on upside.

TCS Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for TCS for the week (November 15, 2016 – November 18, 2016) :

TATA CONSULTANCY SERVICES:

 

tcs

 

TCS closed the week on negative note losing around 9.80%.

As we have mentioned last week that support for the stock lies in the zone of 2290 to 2310 where the stock has formed a bottom in month of September – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2120 to 2150 where the stock has formed a bottom in the month of February – 2016. During the week the stock manages to hit a low of 2086 and close the week around the levels of 2101.

The stock has seen a major break down on long term charts and virtually no support is visible. Major support for the stock lies in the zone of 1980 to 2000 where the stock has taken multiple support in March-2014 and May-2014.

Minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern.

Broad range for the stock in the coming week is seen between 1980 to 2000 on downside to 2200 to 2230 on upside.

Infosys Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Infosys for the week (November 15, 2016 – November 18, 2016) :

INFOSYS:

 

infy

 

INFY closed the week on negative note losing around 5.00%.

As we have mentioned last week that the stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 930 to 950 from where the stock has bounced in the month of July – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 900. During the week the stock manages to hit a low of 901 and close the week around the levels of 922.

The stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 900. Major support for the stock lies in the zone of 800 to 820 where trend-line joining lows of November-2008 and April-2013 is lying.

Minor resistance for the stock lies in the zone of 940 to 950. Resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016.

Broad range for the stock in the coming week is seen between 890 to 895 on downside to 945 to 950 on upside.

SBI Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for SBI for the week (November 15, 2016 – November 18, 2016) :

STATE BANK OF INDIA:

 

sbin

 

SBIN closed the week on positive note gaining around 12.35%.

As we have mentioned last week that minor support for the stock lies in the zone of 240 where medium term moving averages are lying. Support for the stock lies in the zone of 234 to 236 from where the stock bas broken out of the top formed in the month of July – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 220 to 223 where it has bounced multiple times in the month of July – 2016 and August – 2016. During the week the stock manages to hit a low of 235 and close the week around the levels of 273.

Support for the stock lies in the zone of 263 to 265 from where the stock has broken out of the double top pattern. If the stock manages to close below these levels then the stock can drift to the levels of 246 to 248 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 277 to 280. Resistance for the stock lies in the zone of 290 to 292 from where the stock has sold off in the month of August-2015. If the stock manages to close above these levels then the stock can move to the levels of 300 to 305 from where the stock sold off in the month of May-2015.

Broad range for the stock in the coming week can be 250 to 255 on lower side to 290 to 292 on upper side.

Axis Bank Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Axis Bank for the week (November 15, 2016 – November 18, 2016) :

AXIS BANK:

 

axis

 

Axis Bank closed the week on positive note gaining around 4.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying. During the week the stock manages to hit a high of 514 and close the week around the levels of 499.

Minor support for the stock lies in the zone of 475 to 480. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430.

Resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 465 – 470 on lower side to 525 – 530 on upper side.

ICICI Bank Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for ICICI Bank for the week (November 15, 2016 – November 18, 2016) :

ICICI BANK:

 

icici

 

ICICI Bank closed the week on positive note gaining around 2.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 281 to 283 where 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 from where the stock has sold off in the month of October – 2015. During the week the stock manages to hit a high of 298 and close the week around the levels of 276.

Minor support for the stock lies in the zone of 270 to 272. Support for the stock lies in the zone of 262 to 264 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 255 to 257 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 281 to 283 where 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 from where the stock has sold off in the month of October – 2015.

Broad range for the stock in the coming week can be 260 – 262 on lower side to 288 – 290 on upper side.

HDFC Bank Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for HDFC Bank for the week (November 15, 2016 – November 18, 2016) :

HDFC BANK:

 

hdfcb

 

HDFC Bank closed the week on positive note gaining around 2.60%.

As we have mentioned last week that support for the stock lies in the zone of 1220 to 1230 where the stock has made a bottom in the month of August – 2016 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 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016. During the week the stock manages to hit a low of 1195 and close the week around the levels of 1276.

Minor support for the stock lies in the zone of 1240 to 1250. Support for the stock lies in the zone of 1220 to 1230 where the stock has made a bottom in the month of August – 2016 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 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016.

Resistance for the index lies in the zone of 1280 to 1300 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1320 where the stock has made a top in the month of September – 2016.

Broad range for the stock in the coming week can be 1250 on lower side to 1300 on upper side.

Nifty Energy Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for NIFTY ENERGY for the week (November 15, 2016 – November 18, 2016) :

NIFTY ENERGY:

 

energy

 

Nifty ENERGY index closed the week on negative note losing around 1.00%.

As we have mentioned last week that support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern. During the week the index manages to hit a low of 9168 and close the week around the levels of 9807.

Support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern.

Resistance for the index lies in the zone of 9850 to 10000 from where the index has broken down from the lows of October – 2016. If the index manages to close above these levels then the index can move to the levels of 10200 to 10300 where the index has made a top in the month of October-2016.

Broad range for the index is seen between 9500 to 9550 on downside to 10000 to 10100 on upside.

Nifty Auto Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for NIFTY Auto for the week (November 15, 2016 – November 18, 2016) :

NIFTY AUTO:

 

auto

 

Nifty AUTO index closed the week on negative note losing around 5.70%.

As we have mentioned last week that resistance for the index lies in the zone of 10100 to 10200. If the index manages to close above these levels then the index can move to the levels of 10400 to 10500 where the index has formed a top in the month of September – 2016 and October – 2016. During the week the index manages to hit a high of 10098 and close the week around the levels of 9308.

Support for the index lies in the zone of 9050 to 9100 where the index has formed a top in the month of January-2015. If the index manages to break below these levels then the index can drift to the levels of 8500 to 8600 where long term moving averages are lying.

Minor resistance for the index lies in the zone of 9700 to 9750. Resistance for the index lies in the zone of 10100 to 10200. If the index manages to close above these levels then the index can move to the levels of 10400 to 10500 where the index has formed a top in the month of September – 2016 and October – 2016.

Broad range for the index is seen from 9000 to 9100 on downside to 9700 to 9750 on upside.

Nifty Pharma Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for NIFTY Pharma for the week (November 15, 2016 – November 18, 2016) :

NIFTY PHARMA:

 

pharma

 

Nifty PHARMA index closed the week on positive note gaining around 2.80%.

As we have mentioned last week that resistance for the index lies in the zone of 10900 to 11050 where the index has formed a gap on 04/11/2016 on gap down opening. If the index manages to close above these levels then the index can move to the levels of 11200 to 11300 from where the index has broken down from the double bottom pattern and 200 Daily SMA is lying. During the week the index manages to hit a high of 11172 and close the week around the levels of 10901.

Support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000.

Resistance for the index lies in the zone of 10900 to 11050 where the index has formed a gap on 04/11/2016 on gap down opening. If the index manages to close above these levels then the index can move to the levels of 11200 to 11300 from where the index has broken down from the double bottom pattern and 200 Daily SMA is lying.

Broad range for the index is seen from 10300 to 10400 on downside to 11300 to 11400 on upside.

Nifty FMCG Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for NIFTY FMCG for the week (November 15, 2016 – November 18, 2016) :  

NIFTY FMCG:

 

fmcg

 

Nifty FMCG index closed the week on negative note losing around 3.90%.

As we have mentioned last week that Support for the index lies in the zone of 21100 to 21300 from where the index has broken out of the top of June – 2016. If the index manages to close below these levels then the index can drift to the levels of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. During the week the index manages to hit a low of 20661 and close the week around the levels of 20826.

Support for the index lies in the zone of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 20000 to 20200.

Minor resistance for the index lies in the zone of 21400 to 21500. Resistance for the index lies in the zone of 21700 to 21900 from where the index has broken down from the lows of July – 2016 and August – 2016. If the index manages to close above these levels then the index can move to the levels of 22300 to 22500.

Broad range for the index in the coming week is seen from 20000 to 20200 on downside to 21500 to 21700 on upside.

Nifty IT Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for NIFTY IT for the week (November 15, 2016 – November 18, 2016) :

NIFTY IT:

 

it

 

Nifty IT index ended the week on negative note losing around 4.90%.

As we have mentioned last week that resistance for the index lies in the zone of 10000 to 10200 from where the index has broken down from the February – 2016 lows. If the index manages to close above these levels then the index can move to the levels of around 10500 to 10600 from where the index has broken down from the double bottom pattern. During the week the index manages to hit high of 10045 and close the week around the levels of 9434.

Support for the index lies in the zone of 9300 to 9400 where trend-line joining the lows of April-2015, July-2015 and February-2016 is lying. If the index manages to close below these levels then the index can drift to the levels of 8600 to 8700 from where the index has bounced in the month of May-2014.

Minor resistance for the index lies in the zone of 9700 to 9800. Resistance for the index lies in the zone of 10000 to 10200 from where the index has broken down from the February – 2016 lows. If the index manages to close above these levels then the index can move to the levels of around 10500 to 10600 from where the index has broken down from the double bottom pattern.

If the index manages to hold on to the trend-line support and if value buying emerges in the sector then the index can also bounce to the levels of around 10500.

Broad range for the index in the coming week is seen from 9000 to 9100 on downside to 9700 to 9800 on upside.

Nifty Bank Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Nifty Bank for the week (November 15, 2016 – November 18, 2016) :

NIFTY BANK:

 

bankn

 

Nifty Bank ended the week on positive note gaining around 3.60%.

As we have mentioned last week that Support for the index lies in the zone of 19000 to 19100 from where the index has broken out of the 4 weeks of consolidation 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 18500 where the index has formed a base in the month of July – 2016 and August – 2016. If the index breaks below these levels then the index can drift to the levels of 18050 to 18200 where the index has formed a gap. During the week the index manages to hit a low of 18144 and close the week around the levels of 19739.

Support for the index lies in the zone of 19400 to 19500 levels where the index has opened gap up on 10-11-2016. If the index manages to close below these levels then the index can drift to the levels of 19000 to 19100 where medium term moving averages are lying.

Resistance for the index lies in the zone of 19700 to 19800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 20200 to 20400 where the index has made a top in the month of September – 2016.

Last week the index was highly volatile so during first half of the week we may see volatility which may subside during the later half of the week.

Range for the week is seen from 19000 to 19100 on downside to 20200 to 20300 on upside.

Nifty Outlook for the Week (November 15, 2016 – November 18, 2016)

EquityPandit’s Outlook for Nifty for week (November 15, 2016 – November 18, 2016):

NIFTY:

 

nifty

 

Nifty ended the week on negative note losing around 1.60%.

As we have mentioned last week that the index has broken the trend-line joining the lows of March, April, May & June also coincides with the support zone of 8500 to 8550. Support for the index lies in the zone of 8350 to 8400 where the index has formed a gap on 11/07/2016. If the index breaks below these levels on closing basis then the index can drift to the levels of 8000 to 8100 levels where long term moving averages are lying. It seems the index has formed a H & S pattern where neckline lies around the levels of 8500 to 8550. If the index has broken this pattern then the target for this can be in the range of 8100. During the week the index manages to hit a low of 8002 and close the week around the levels of 8296.

Support for the index lies in the zone of 8000 to 8200 levels where long term moving averages are lying and this range is the strong support zone for the index. If the index breaks below these levels on closing basis for couple of days then the index can drift to the levels of around 7500.

Resistance for the index lies in the zone of 8500 to 8550 levels, which was holding the index since August – 2016. If the index manages to close above these levels then the index can move to the levels of 8650 to 8700.

As FII are the net sellers in Cash & Futures Segment we may see index consolidating in the range of 8000 on downside to 8500 on upside for few weeks.

Broad range for the week is seen from 8000 on downside to 8500 on upside.

Share Market Tips for – Friday, November 11, 2016

equitypandit_square

Sharp Correction To Be Seen, Go Long At Dips

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market is in positive zone and banking sector would be the major beneficiary on the ban of currency notes. EquityPandit also predicted that traers should go long in banking sector at every dip in the market and exactly same happened. Indian Stock Market moved sharply positive. BankNifty breached all the resistances and moved sharply postive. Traders who followed EquityPandit’s advice to go long in the BankNifty might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open Gap Negative. Indian Stock Market is in positive zone but some sharp correction can’t be ruled out after a big positive movement in yesterday’s trading session. But overall market is positive and traders should buy at every dip in BankNifty. Today is a very important day as closing level is concerned. If Nifty managed to close above 8553 levels then it would enter into Weekly buying mode and if that happens the Next bigger target would be 9000 for Nifty which would surely achieve. So, traders should watch levels of 8553 on spot basis by closing before taking any long position home. The trade for now is to buy at dips which would be seen in the market today. Today, M&M, BPCL, Tata Steel and many banks would disclose their Q2 results especially, SBI and Bank Of Baroda that would affect Indian Stock Market today.  Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.

FIIs were net sellers of Rs.733.49 crores whereas DIIs were net buyers of Rs.639.19 crores in cash market for last trading session. Nifty would see strong support at 8480-8400-8360-8315-8280 whereas strong resistance would be seen at 8536-8580-8620-8636 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Andhra Bank, Apollo Hospitals, Bank Of Baroda, BPCL, Godfrey Phillip India, Indian Overseas Bank, Ipca Laboratories, Jet Airways, Mahindra & Mahindra, Mahindra CIE, Muthoot Finance, Natco Pharma, Nirlon, Novartis India, OnMobile Global, Rain Industries, Reliance Power, Schneider Electric Infrastructure, SRF, State Bank Of India, Sun TV, Suzlon, Tata Steel, VIP Industries and Videocon Industries.

NSE Nifty: (8526) The support for the Nifty is 8480-8400-8360-8315-8280 and the resistance to the up move is at 8536-8580-8620-8636 levels.

NSE BankNifty: (20200) The support for BankNifty is at 20110-20060-19950-19880-19787 and the resistance to the up move is at 20280-20340-20542-20609 levels.

BSE Sensex: (27518) The support for the Sensex is at 27460-27340-27160-27034 and the resistance to the up move is at 27550-27640-27720-27800 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Thursday, November 10, 2016

equitypandit_square

Indian Stock Market Positive, Buy At Every Dip, Volatility May Still Persist

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. Indian Stock Market moved sharply negative breaching all support levels but recovered sharply from day lows. Donald Trump surprised market by getting clear majority in US Presidential Elections. BankNifty saw highs right near EquityPandit’s predicted resistance levels of 19580. Finally, Indian Stock Market closed negative for the day but BankNifty managed to close positive for the day.

Today: Indian Stock Market would open Gap Positive. Now Indian Stock Market is still in positive zone. Banking sector would be the major beneficiary on the ban of currency notes as Banking sector would see huge deposits in upcoming times as compared to the past. The end of the parallel cash economy would also benefit the banks in mid to long term. Real Estate sector would remain under huge pressure. Still we would see huge swing in the market and volatility is not ruled out in next couple of days but traders can go long at every downfall in the market for now. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.
FIIs were net sellers of Rs.2095 crores whereas DIIs were net buyers of Rs.1116.31 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280-8250 whereas strong resistance would be seen at 8480-8536-8580-8620-8636 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Aditya Birla Nuvo, Bajaj Electricals, Bank Of India, BF Utilities, Blue Star, Dhanuka Agritech, Eors International, Finolex Cables, Fortis Healthcare, Jain Irrigation, Manappuram Finance, Motherson Sumi Systems, Page Industries, Reliance Defence & Engineering, Sun Pharma, Thermax and Wockhardt Ltd.

NSE Nifty: (8432) The support for the Nifty is 8400-8360-8315-8280-8250 and the resistance to the up move is at 8480-8536-8580-8620-8636 levels.

NSE BankNifty: (19518) The support for BankNifty is at 19440-19320-19180-19060-18950 and the resistance to the up move is at 19580-19665-19724-19800-20000 levels.

BSE Sensex: (27253) The support for the Sensex is at 27160-27034-26950-26797 and the resistance to the up move is at 27460-27550-27640-27720-27800 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government

equitypandit_square

Nifty CMP: 8432

Modi Government took boldest decision in the history of India to remove Rs.500 & Rs.1000 notes effective from midnight on Tuesday, November 08, 2016 in order to fight against black money. This is the most significant move taken by Govt.

  • So let’s first discuss its fundamental effect on market.

Fundamental Analysis Of Indian Stock Market

  • As per White paper on black money in India report, it is estimated that around Rupees 100 Billion were deposited by Indians in Swiss bank. However other non Govt. reports suggest that much higher amount of money float inside India which is running a parallel economy. It is like running Dubba market along with Indian stock market. But the amount of black money which is available inside India is much higher than what is deposited outside India.

Negative Effects Of The Government Decision On Indian Stock Market

  1. Now let’s see Negative effect of how this Govt. decision would affect Indian market and overall economy in general.
  2. The major portion of black money is going to real estate as an investment haven. It is also one of the reason for higher real estate prices in India. With this step, it is expected that real estate sector will face liquidity crunch so we are negative on this sector. Due to this, we are short term negative effect on Economy as well.
  3. Jewellery sector is the other sector where black money is been invested and hence we are negative on Jewellery sector as well.
  4. The main problem comes for small businesses and workers from unorganized sector where most of the transactions are done in cash only. This sector will hit the most with this step.
  5. Now on banking sector as this is a sudden surprising step, banks can face lots of problem related to cash transaction and it could create liquidity crunch in the system for very short term.
  6. Also there are lot of black money invested in market which will be getting out of the market ASAP due to this decision.

Positive Effects Of The Government Decision On Indian Stock Market

Let’s see positive effect of this decision.

  1. Biggest driver of stock market is sentiment. No doubt that this action could be a knee-jerk negative for market but as an investor we are very happy that Govt is taking these bold reforms despite UP election in near future. So Govt is on track of big bang reforms and that will attract long term investor and FII to keep pumping more money into the market. It is a big positive sentiment for Indian Stock Market.
  2. Second positive outcome is the big chunk of money that will come into Indian banking system. It is expected that around 5-8 Lac Crores could come in Economy which will increase the speed of consumption and growth. This will further increase market outlook.

So from the above points we can conclude that if market sees any correction, it is great buying opportunity for medium to longer term. Also even after US election result, Indian market recovered most of its loss, which shows the strength in market.

However in any case we strongly recommend avoiding any penny stocks or small cap stock with no real fundamentals and also real estate stocks for some time until we get more. Buy blue chip Companies having good fundamentals and hold it as an Investment.

Technical Analysis Of Indian Stock Market

Now let’s look at Nifty technical charts along with US market

  • Before analyzing Nifty charts, lets first look at Dow Jones charts

dj-chart

  • From the above chart, it is very much clear that after consolidation of around 1 year, Dow Jones kept consolidating and taken support of 17900-18000 zones which is a trend line support of past two highs. Also 17900 is the first Fibonacci retracement level of the rally that is started from 15500 to 18600 levels.
  • Most important point is that even after negative election result Dow was up around 150 point till 10.30 PM and 17900-18000 levels will likely hold.
  • Now if Dow closes above 18359 on weekly basis then it sets year-end rally and we could see the target of 19500-19000.
  • Overall US market is looking very strong and year-end rally likely to be seen in the market.

Now let’s look at the chart of nifty.

  • Nifty rally started on February 2016 budget day when nifty saw lows of 6825 and rallied all the way to 8968 level. From that level nifty corrected to around 8400 level.

nifty-chart

  • From the nifty chart it is quite clear that market is not ready to cross its life time high in hurry. One of the main reason is that market saw huge rally from 6800 to almost 9000 level in a very short time frame. As already mentioned this rally was fuelled by liquidity and now this source of rally is drying up.
  • Since Last month FII sold around 7800cr from equity market alone. Also future position suggested that they did cut their long exposure in Index future from 85% to 60%. Due to which Nifty saw almost 600 points correction.
  • Now as seen in the chart of nifty on US election outcome, it opened sharply lower and made low at 8002 which is a good support as per Fibonacci retracement level shown in the chart.
  • But technical charts on nifty is not looking good. We could see sell-off in nifty on every bounce back. Until Nifty spot closing above 8530 mark on weekly basis we could continue to see the correction phase in market. If market manage to close above 8530 on weekly basis then target for Nifty is around 9000.
  • Now let’s see the channel formed by Nifty.

nifty-channel-formation-chart

  • After making high of around 8968, nifty is moving in a channel. At present channel support stands at 8380 and resistance stands at 8650. On upside, channel breakout confirmation will come if nifty closes above 8650.
  • Now on downside, if Nifty breaks and close below 8380 then we could see levels of 8250-8200-8000 where nifty should bottom out.
  • Now in order to predict whether nifty will breakout or breakdown let’s see chart of BankNifty which is the largest component of Nifty.

banknifty-channel-breakout

  • From the graph it is clear that Banking sector took a channel breakout and on break out trend line it kept taking support which at present stands at 19000 level. Closing below this level will create another 900-1000 point correction in Bank Nifty.
  • On US President Election outcome, bank nifty broke 19000 channel support and touched lower range of channel which stands at 18150 and bounce back from that level. Towards end bank nifty again broke the channel at upper side and manage to close above 19000 mark.
  • So overall bank nifty maintain channel breakout. Now if bank nifty closes above 19600 level on weekly closing level then we could expect target of 20500-21000 on bank nifty.

Conclusion:

  1. Present decision taken by government to curb black money transaction won’t have much negative effect on market. Rather it is a good buying opportunities for medium to long term.
  2. On nifty, 8380 and on bank nifty 19000 is very important support level. Closing below these levels will generate lot of selling as per the charts. It is very much likely that Dow Jones will also break 17900-18000 support mark. Both should happen at a time.
  3. If Nifty closes above 8530 mark on weekly basis then it is clear that correction in market is over. After which we should see good rally in market and pattern target is 9000 mark.

Share Market Tips for – Wednesday, November 09, 2016

equitypandit_square

News Of Indian Govt. Banning Notes Would Force Market Fall, US Election Results To Be Seen

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that BankNifty has entered into positive zone and hence traders can go long in the market for instant profits and exactly same happened. Nifty opened positive but fell down from there and saw lows right at EquityPandit’s predicted support levels of 8480 like a dot. Sensex also saw lows right at EquityPandit’s predicted support levels of 27400 like a dot. Market recovered from day lows and saw sharp positive rally. Sensex saw highs right at EquityPandit’s predicted resistance levels of 27640 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open gap negative on the news of government banning Rs.500 & Rs.1000 notes. Now Indian Stock Market is filled up with multiple news and events. Government has banned Rs.500 and Rs.1000 notes effective yesterday night. This would sharply impact Real Estate and many other sectors and would be very negative for Indian Stock Market in short term, though positive for the economy for long term to eradicate black money. Today, trends for US Presidential Elections would be disclosed that would also affect Indian Stock Market. The Best strategy is to buy both call and put options in the market as Clinton’s win may force market positive whereas local news of banning Rs.500 and Rs.1000 notes would force market on the negative side. It would be interesting to note the final take of the market. The market bias is on the negative side and any positive rally would generate shorting opportunity.
FIIs were net buyers of Rs.86.66 crores whereas DIIs were net buyers of Rs.294.06 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280-8250 whereas strong resistance would be seen at 8600-8620-8636-8650 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Apollo Tyres, Bosch Ltd, Capital First, Cipla, Edelweiss Financial Services, Eveready Industries, FDC, Godrej Properties, Honeywell Automation, Indian Bank, JK Tyre, Karnataka Bank, Lupin, NCC, Oracle Financial Services Software, Orient Cement, Oriental Bank Of Commerce, Pidilite Industries, Polaris Consulting, Power Finance Corporation, Ramco Systems, REC, Ramco Cements and UCO Bank.

NSE Nifty: (8544) The support for the Nifty is 8400-8360-8315-8280-8250 and the resistance to the up move is at 8600-8620-8636-8650 levels.

NSE BankNifty: (19501) The support for BankNifty is at 19180-19060-18950-18825 and the resistance to the up move is at 19580-19665-19724-19800-20000 levels.

BSE Sensex: (27591) The support for the Sensex is at 27311-27190-27060 and the resistance to the up move is at 27640-27720-27800-28000 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Share Market Tips for – Tuesday, November 08, 2016

equitypandit_square

BankNifty Enters Positive Trend, Nifty Positive Above 8530 On Closing Basis

 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see sharp short covering rally and traders can go short at higher levels and exactly same happened. Indian Stock Market moved sharply positive as per EquityPandit’s predictions. Nifty moved sharply negative from day highs and touched intraday lows at the end of the trading session. Traders, who followed EquityPandit’s advice to go short at higher levels might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day with BankNifty as the strongest sector.

Today: Indian Stock Market would open positive. Now, BankNifty has entered into positive zone and Nifty would also enter the positive zone once it breaches levels of 8530 on closing basis. Analysis would still remain same. Today is the D-Day and US Presidential Elections would be commenced today. Now major trigger for the market would be US Presidential Elections Outcome. Indian Stock Market would be highly volatile in next 2-3 days and market is expected to see a movement of 3-5% or even more in next 2-3 days mainly on Wednesday and Thursday. EquityPandit expects that the trends suggesting Hillary Clinton win would force market to see around 2-3% upmove on Next Wednesday and Thursday whereas Donald Trump win would force market to see a “V” Shape movement where we can expect a downfall of around 3-5% which would be followed by sharp recovery. Traders can go long in BankNifty with hedging it with Put Options. The best trade for traders is to buy both Call and Put options of BankNifty which would overall yield handsome profit after Elections. Nifty would also enter into positive zone once it closes above 8530 levels.
FIIs were net buyers of Rs.311.18 crores whereas DIIs were net buyers of Rs.779.86 crores in cash market for last trading session. Nifty would see strong support at 8480-8400-8360-8315 whereas strong resistance would be seen at 8536-8580-8620-8636 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Ashok Leyland, Bharat Forge, BHEL, BBTC, Bombay Dyeing, Entertainment Network, Interglobe Aviation, KEC International, Mangalore Refinery and Petrochemicals, Mcleod Russel, PTC India Financial Services and Tata Communications.

NSE Nifty: (8497) The support for the Nifty is 8480-8400-8360-8315 and the resistance to the up move is at 8536-8580-8620-8636 levels.

NSE BankNifty: (19356) The support for BankNifty is at 19180-19060-18950-18825-18720 and the resistance to the up move is at 19435-19490-19580-19665-19724 levels.

BSE Sensex: (27459) The support for the Sensex is at 27400-27311-27190-27060 and the resistance to the up move is at 27640-27720-27800 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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US Presidential Election On November 8, 2016: How Indian Market Would React?

donald-trump-hillary-clinton-impossible-choice

As the 2016 election nears on Tuesday November 08, 2016, many market participants found themselves undecided and discontented between the two presumptive nominees, Hillary Clinton and Donald Trump. We must realize that the election could have the most impact on the future of the nation than any election ever before. A nation that faces nearly 20 million dollars in debt, more than doubling its debt in the last eight years, a true leader must be elected in coming few days.

trumphillfinregcrown-tint

Effect of US Elections on Indian Stock Market

If Hillary Clinton Wins:  If history is a guide, a Clinton presidency would be better for the stock market. The average annual return of the Dow Jones Industrial Average Index (DIA) from 1901 through September 2016 has been 4.5%, Under Democrat presidents; the index has returned 7.0% on average, while Republican administrations have seen a 3.0%. It is found that the annualized gross domestic product, growth was 1.8 percentage points higher under Democratic presidents versus Republican. The win of Clinton in Indian market will help Nifty to move towards 9000-9100 band.

If Donald Trump Wins:  Trump would be a wildcard because of his lack of predictability. The equity market is worried about a Trump victory, about the uncertainty of policy under Trump. With a Clinton win, the market would rally but not as much as it historically has when an incumbent party wins. “It depends now on how a Democratic win is already built into the market. If that’s the case, then I would say a Republican win would mean a sharper down, but then a sharper up to follow. Victory of Trump may force Nifty to take a knee jerk reaction first to take it down to 8100-8200 band and from there it can sharply recover back to 9000 zone.

Effect of US Elections on Gold

 If Hillary Clinton Wins:  If Hillary Clinton is elected, we feel the run up in gold price won’t be quite as strong as she is more mainstream and probably the economy will be less likely to suffer setbacks. Despite the ongoing political turmoil in America, financial markets will welcome the election of Clinton. Markets will calm and breathe a sigh of relief. Clinton will continue Barack Obama’s legacy and will not be able to make radical policy changes. She is thinking about a policy issue, she’s going to want to hear from the business side, the consumer side, the labor side, and in that regard, her positions may not be starkly black and white.

If Donald Trump Wins:  A victory of Donald Trump in the US presidential election would probably lift gold prices as this election is likely to act as the next big catalyst for precious metals prices. The US vote will have more impact on bullion than the UK referendum. If Donald Trump gets elected, it will stimulate some fear within the economy. Gold prices are quoting at $1305 an ounce which rallied 23 percent this year on demand for haven assets following the UK’s vote to leave the European Union and as the Federal Reserve refrains from raising rates.

Effect of US Elections on Crude Oil

If Hillary Clinton Wins:  Hillary Clinton has a vastly different view on the energy market. Clinton’s plan to make the country a “clean energy superpower” would be negative for Crude prices. She wants to cut US oil consumption by a through the use of cleaner fuels within 10 years of her taking office. If Clinton wins the election, she will maintain the status quo in relation to America’s intervention in Syria. American people see her as a foreign policy hawk but she has been burnt once for her support of the Iraq War. In the long term, Clinton’s plan for clean energy that might offer enough substitutes to put downward pressure on the price of oil.

If Donald Trump Wins:  Donald Trump’s anti-muslim mentality is perhaps the biggest obstacle to maintain peace in the Middle East and his victory could deliver ISIS and Al-Qaeda a signal from the US as the number one enemy. If Trump does introduce a ban on Muslims entering US territory, he will put Washington on a collision course that will create a fresh geopolitical tension in the Middle East. As a result, it could lead to spikes in the oil prices. ISIS knows exactly what they are doing when they target the oil fields and installations of Kirkuk. A sharp reduction or the threat of any sharp reduction in supply will do more to affect the price of oil than any oil production deal between Russia and OPEC.

Share Market Tips for – Monday, November 07, 2016

equitypandit_square

Sharp Positive Rally To Be Seen But Go Short At Higher Levels Until Nifty Holds 8530

 

Last Trading Session: Indian Stock Market opened flat for the day. Market managed to breach EquityPandit’s support of 8480 level for Nifty and fell down sharply. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap positive. Overall Indian Stock Market is still in negative zone but now we can see some sharp short covering rally (Positive Rally). Now major trigger for the market would be US Presidential Elections Outcome. Indian Stock Market would be highly volatile in next 4 days and market is expected to see a movement of 3-5% or even more in next 4 days mainly on Wednesday and Thursday. EquityPandit expects that the trends suggesting Hillary Clinton win would force market to see around 2-3% upmove on Next Wednesday and Thursday whereas Donald Trump win would force market to see a “V” Shape movement where we can expect a downfall of around 3-5% which would be followed by sharp recovery. Today, sharp positive rally would be seen before elections, so traders should go short at positive rally until Nifty holds 8530 and BankNifty holds 19343 spot levels on closing basis. The best trade for traders is to buy both Call and Put options of BankNifty in cyclic manner which would overall yield handsome profit after Elections.
FIIs were net sellers of Rs.343.30 crores whereas DIIs were net buyers of Rs.1089.86 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280 whereas strong resistance would be seen at 8505-8580-8620-8636 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Aban Offshore, Aegis Logistics, Britannia Industries, CEAT Ltd, eClerx Services, EID Parry, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, HSIL, ICICI Bank, Sanofi India, Shree Cement and Vakrangee Ltd.

NSE Nifty: (8434) The support for the Nifty is 8400-8360-8315-8280 and the resistance to the up move is at 8505-8580-8620-8636 levels.

NSE BankNifty: (19058) The support for BankNifty is at 18950-18825-18720-18600 and the resistance to the up move is at 19220-19350-19435-19490 levels.

BSE Sensex: (27274) The support for the Sensex is at 27190-27060-26950-26830 and the resistance to the up move is at 27405-27500-27640-27720 levels.

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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Colgate Palmolive Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Colgate Palmolive for the week (November 07, 2016 – November 11, 2016) :

COLGATE PALMOLIVE:

 

colpal

 

Colgate Palmolive closed the week on positive note gaining around 1.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 990 to 1000 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 where the stock has formed a top in the month of August – 2016. During the week the stock manages to hit a high of 1031 and close the week around the levels of 984.

Minor support for the stock lies in the zone of 955 to 965. Support for the stock lies in the zone of 935 to 940 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 990 to 1000 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1040 where the stock has formed a top in the month of August – 2016.

Broad range for the stock is seen between 945 to 950 on lower end and 1000 to 1010 on upper end.

Dabur Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for DABUR for the week (November 07, 2016 – November 11, 2016) :

DABUR:

 

dabur

 

Dabur closed the week on positive note gaining around 2.20%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 294 to 296. Resistance for the stock lies in the zone of 299 to 301 from where the stock has sold off in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 305 to 310. During the week the stock manages to hit a high of 301 and close the week around the levels of 298.

Minor support for the stock lies in the zone of 290 to 293. Support for the stock lies in the zone of 286 to 288 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 280 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 299 to 301 from where the stock has sold off in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 305 to 310.

Broad range for the stock is seen between 285 to 288 on lower end and 310 to 315 on upper end.

Hindustan Unilever Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Hindustan Unilever for the week (November 07, 2016 – November 11, 2016) :

HINDUSTAN UNILEVER:

 

hindu

 

HIND Unilever closed the week on positive note gaining around 1.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 825 to 830. Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016. During the week the stock manages to hit a low of 832 and close the week around the levels of 848.

Minor support for the stock lies in the zone of 825 to 830. Support for the stock lies in the zone of 800 to 805 from where the stock has bounced in the month of May – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 765 from where the stock has bounced in the month of January – 2016.

The stock has broken down from the major trend-line support. Resistance for the stock lies in the zone of 850 to 855 where trend-line joining lows of January – 2016 and May – 2016 is lying and also 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 870 to 875 where 200 Daily SMA is lying.

Broad range for the stock in coming week is seen between 810 to 820 on downside and 870 to 880 on upside.

ITC Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for ITC for the week (November 07, 2016 – November 11, 2016) :

ITC:

 

itc

 

ITC closed the week on positive note gaining around 3.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 235. Support for the stock lies in the zone of 228 to 231 where long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 220 to 225. During the week the stock manages to hit a low of 235 and close the week around the levels of 249.

Support for the stock lies in the zone of 244 to 246 where the stock broke out of the October – 2016 top. If the stock manages to close below these levels then the stock can drift to the levels of 230 to 235 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 248 to 250 from where the stock has broken down from the lows of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 256 to 260.

Broad range for the stock in coming week is seen between 240 to 242 on downside and 260 to 262 on upside.

Cipla Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Cipla for the week (November 07, 2016 – November 11, 2016) :

CIPLA:

 

cipla

 

CIPLA closed the week on negative note losing around 5.90%.

As we have mentioned last week that support for the stock lies in the zone of 568 to 572 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 545 to 550 from where the stock broken out of the double top pattern and 200 Daily SMA is lying. During the week the stock manages to hit a low of 538 and close the week around the levels of 545.

Support for the stock lies in the zone of 530 to 540 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 500 to 510 where the stock has formed a bottom in the month of July – 2016 and August – 2016.

Resistance for the stock lies in the zone of 560 to 565 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 575 to 580 from where the stock has broken down.

Broad range for the stock is seen in the range of 520 – 525 on downside to 565 – 570 on upside.

Dr. Reddy Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Dr. Reddy for the week (November 07, 2016 – November 11, 2016) :

DR. REDDY:

 

drr

 

Dr Reddy closed the week on negative note losing around 7.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 3400 to 3450. If the stock manages to close above these levels then the stock can move to the levels of 3650 to 3700 from where the stock has sold off in the month of July – 2016. During the week the stock manages to hit a high of 3362 and close the week around the levels of 3080.

Minor support for the stock lies in the zone of 3050 to 3060. Support for the stock lies in the zone of 3000 to 3010 where the stock has bounced in the month of October – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2900 to 2930 where the stock has formed a bottom in the month of July – 2016 and August – 2016.

Resistance for the stock lies in the zone of 3100 to 3150 where 200 Daily SMA and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 3200 to 3230.

Broad range for the stock is seen from 2900 – 2930 on downside to 3200 – 3250 on upside.

Lupin Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Lupin for the week (November 07, 2016 – November 11, 2016) :

LUPIN:

 

lupin

 

Lupin closed the week on negative note losing around 6.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 1450. If the stock manages to close below these levels then the stock can drift to the levels of 1400 where the stock has made a bottom in the month of June – 2016. During the week the stock manages to hit a low of 1393 and close the week around the levels of 1421.

Support for the stock lies in the zone of 1400 where the stock has made a bottom in the month of June – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 1280 to 1300 from where the stock has bounced in the month of March – 2016.

Minor resistance for the stock lies in the zone of 1440 to 1450. Resistance for the stock lies in the zone of 1500 to 1510 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1550 to 1560 where medium term moving averages are lying.

Broad range for the stock is seen from 1300 – 1350 on downside to 1530 – 1540 on upside.

Sun Pharma Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Sun Pharma for the week (November 07, 2016 – November 11, 2016) :

SUN PHARMA:

 

sun

 

SUN PHARMA closed the week on negative note losing around 12.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 730. Support for the stock lies in the zone of 700 to 710 from where the stock has bounced in the month of June – 2016 and November – 2015. If the stock manages to close below these levels then the stock can witness a major break down and can drift to the levels of 650. During the week the stock manages to hit a low of 647 and close the week around the levels of 652.

Support for the stock lies in the zone of 640 to 650 where the stock has formed a gap on 27/06/2014 and also the stock has broken out of the double top pattern formed in October – 2013 and February – 2014. It seems that the stock should hold these support zone. If the stock breaks below these support zone then the stock can further drift to the levels of 550 where the stock has formed a durable base in month of December – 2013 and March – 2014.

Resistance for the stock lies in the zone of 680 to 700 where the stock has opened gap down on 04/11/2016. If the stock manages to close above these levels then the stock can move to the levels of 720 to 730.

Broad range for the stock in the coming week can be 630 – 635 on lower side to 680 – 685 on upper side.

Wipro Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Wipro for the week (November 07, 2016 – November 11, 2016) :

WIPRO:

 

wipro

 

Wipro closed the week on negative note losing around 2.60%.

As we have mentioned last week that support for the stock lies in the zone of 450 to 455 from where the stock broke out of the consolidation zone in the year 2012 and 2013. The stock has witnessed a sharp correction from the recent highs of 575 to 600. If the support zone of 450 does not hold there is possibility that the stock can drift to the levels of 350. During the week the stock manages to hit a low of 444 and close the week around the levels of 453.

Support for the stock lies in the zone of 450 to 455 from where the stock broke out of the consolidation zone in the year 2012 and 2013. The stock has witnessed a sharp correction from the recent highs of 575 to 600. If the support zone of 450 does not hold there is possibility that the stock can drift to the levels of 350.

Resistance for the stock lies in the zone of 470 to 475 from where the stock has broken down from the double bottom pattern in the month of September – 2016. If the stock manages to close above these levels then the stock can move to the levels of 480 to 490 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 435 to 440 on downside to 475 to 480 on upside.

HCL Tech Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for HCL Tech for the week (November 07, 2016 – November 11, 2016) :

HCL TECHNOLOGIES:

 

hcl

 

HCL Tech closed the week on positive note gaining around 3.50%.

As we have mentioned last week that support for the stock lies in the zone of 750 to 760 from where the stock has bounced in the month of August – 2016 and September – 2016. If the stock closes below these levels then the stock can drift to the levels of 700 to 720 where the stock has formed a bottom in the month of May, June and July – 2016. During the week the stock manages to hit a low of 760 and close the week around the levels of 795.

Support for the stock lies in the zone of 775 to 785 where 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 760 to 770 where the stock has found support couple of times.

Minor resistance for the stock lies in the zone of 800 to 810. If the stock manages to close above these levels then the stock can move to the levels of 840 to 850 where long term moving averages are lying and the stock has formed a double top.

Broad range for the stock in the coming week is seen between 760 to 765 on downside to 830 to 840 on upside.

TCS Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for TCS for the week (November 07, 2016 – November 11, 2016) :

TATA CONSULTANCY SERVICES:

 

tcs

 

TCS closed the week on negative note losing around 2.50%.

As we have mentioned last week that minor support for the stock lies in the zone of 2370 to 2385. Support for the stock lies in the zone of 2290 to 2310 where the stock has formed a bottom in month of September – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2120 to 2150 where the stock has formed a bottom in the month of February – 2016. During the week the stock manages to hit a low of 2284 and close the week around the levels of 2331.

Support for the stock lies in the zone of 2290 to 2310 where the stock has formed a bottom in month of September – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2120 to 2150 where the stock has formed a bottom in the month of February – 2016.

Minor resistance for the stock lies in the zone of 2350 to 2360. Resistance for the stock lies in the zone of 2400 to 2420 from where the stock has broken down the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 2450 to 2475 where short term moving averages and 200 Daily SMA are lying.

Broad range for the stock in the coming week is seen between 2250 to 2270 on downside to 2400 to 2430 on upside.

Infosys Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Infosys for the week (November 07, 2016 – November 11, 2016) :

INFOSYS:

 

infy

 

INFY closed the week on negative note losing around 3.10%.

As we have mentioned last week that the stock has closed below the major support zone of 1000 to 1010 where the stock has made a bottom in the month of Nov – 2015 and August – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 930 to 950 from where the stock has bounced in the month of July – 2015. During the week the stock manages to hit a low of 961 and close the week around the levels of 971.

The stock has seen a major break down on long term charts and virtually no support is visible. Support for the stock lies in the zone of 930 to 950 from where the stock has bounced in the month of July – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 900.

Resistance for the stock lies in the zone of 1000 to 1010 from where the stock has broken down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 1030 to 1050 from where the stock has broken down in the month of October – 2016.

Broad range for the stock in the coming week is seen between 940 to 950 on downside to 1000 to 1010 on upside.

SBI Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for SBI for the week (November 07, 2016 – November 11, 2016) :

STATE BANK OF INDIA:

 

sbin

 

SBIN closed the week on negative note losing around 5.70%.

As we have mentioned last week that resistance for the stock lies in the zone of 263 to 265 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 272 where the stock has made a top in the month of September – 2016. During the week the stock manages to hit a high of 261 and close the week around the levels of 243.

Minor support for the stock lies in the zone of 240 where medium term moving averages are lying. Support for the stock lies in the zone of 234 to 236 from where the stock bas broken out of the top formed in the month of July – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 220 to 223 where it has bounced multiple times in the month of July – 2016 and August – 2016.

Minor resistance for the stock lies in the zone of 248 to 250. Resistance for the stock lies in the zone of 263 to 265 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 272 where the stock has made a top in the month of September – 2016.

Broad range for the stock in the coming week can be 233 to 235 on lower side to 255 to 258 on upper side.

Axis Bank Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Axis Bank for the week (November 07, 2016 – November 11, 2016) :

AXIS BANK:

 

axis

 

Axis Bank closed the week on negative note losing around 1.80%.

As we have mentioned last week that the stock has closed just below the 200 Daily SMA lying around the levels of 493 to 498. Minor support for the stock lies in the zone of 475 to 480. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430. During the week the stock manages to hit a low of 468 and close the week around the levels of 479.

Minor support for the stock lies in the zone of 475 to 480. Support for the stock lies in the zone of 455 to 460 from where the stock has bounced in the month of May – 2016. If the stock closes below these levels then the stock can drift to the levels of 420 to 430.

Resistance for the stock lies in the zone of 500 to 510 where the stock has opened gap down on back of weak quarterly results and 200 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 530 to 540 where short term and medium term moving averages are lying.

Broad range for the stock in the coming week can be 460 – 465 on lower side to 500 – 505 on upper side.

ICICI Bank Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for ICICI Bank for the week (November 07, 2016 – November 11, 2016) :

ICICI BANK:

 

icicib

 

ICICI Bank closed the week on negative note losing around 2.60%.

As we have mentioned last week that minor support for the stock lies in the zone of 269 to 271. Support for the stock lies in the zone of 262 to 264 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 252 to 255 where medium term moving averages are lying. During the week the stock manages to hit a low of 265 and close the week around the levels of 270.

Support for the stock lies in the zone of 262 to 264 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 255 to 257 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 281 to 283 where 500 Daily SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 293 to 295 from where the stock has sold off in the month of October – 2015.

The company is going to announce the quarterly results in this week so we expect to stock to be highly volatile.

Broad range for the stock in the coming week can be 260 – 262 on lower side to 288 – 290 on upper side.

HDFC Bank Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for HDFC Bank for the week (November 07, 2016 – November 11, 2016) :

HDFC BANK:

 

hdfc

 

HDFC Bank closed the week on negative note losing around 0.80%.

As we have mentioned last week that minor support for the stock lies in the zone of 1250 to 1255. Support for the stock lies in the zone of 1220 to 1230 where the stock has made a bottom in the month of August – 2016 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 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016. During the week the stock manages to hit a low of 1232 and close the week around the levels of 1244.

Support for the stock lies in the zone of 1220 to 1230 where the stock has made a bottom in the month of August – 2016 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 1200 from where the stock broke out of the tops formed in May – 2016 and June – 2016.

Resistance for the index lies in the zone of 1260 to 1270 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of 1320 where the stock has made a top in the month of September – 2016.

Broad range for the stock in the coming week can be 1220 on lower side to 1270 on upper side.

Nifty Energy Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for NIFTY ENERGY for the week (November 07, 2016 – November 11, 2016) :

NIFTY ENERGY:

 

energy

 

Nifty ENERGY index closed the week on negative note losing around 3.60%.

As we have mentioned last week that support for the index lies in the zone of 9900 to 10000 from where the index has broken out of the top formed in the month of September – 2016. If the index manages to close below these levels then the index can drift to the levels of 9600 to 9700 where short term moving averages are lying. During the week the index manages to hit a low of 9653 and close the week around the levels of 9711.

Support for the index lies in the zone of 9500 to 9550 from where the index has bounced in the month of September – 2016 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 8800 to 9000 from where the index has broken out of the double top pattern.

Resistance for the index lies in the zone of 9850 to 10000 from where the index has broken down from the lows of October – 2016. If the index manages to close above these levels then the index can move to the levels of 10100 to 10200 from where the index has broken down.

Broad range for the index is seen between 9500 to 9550 on downside to 10000 to 10100 on upside.

Nifty Auto Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for NIFTY Auto for the week (November 07, 2016 – November 11, 2016) :

NIFTY AUTO:

 

auto

 

Nifty AUTO index closed the week on negative note losing around 1.80%.

As we have mentioned last week that minor support for the index lies in the zone of 10060 to 10120. Support for the index lies in the zone of 9850 to 9900 where the index has broke out of the top made in the month of August – 2016. If the index manages to close below these levels then the index can drift to the levels of 9450 to 9500 from where the index has bounce couple of times in the month of August – 2016. During the week the index manages to hit a low of 9827 and close the week around the levels 9871.

Support for the index lies in the zone of 9850 to 9900 where the index has broke out of the top made in the month of August – 2016. If the index manages to close below these levels then the index can drift to the levels of 9450 to 9500 from where the index has bounce couple of times in the month of August – 2016.

Resistance for the index lies in the zone of 10100 to 10200. If the index manages to close above these levels then the index can move to the levels of 10400 to 10500 where the index has formed a top in the month of September – 2016 and October – 2016.

Broad range for the index is seen from 9500 to 9550 on downside to 10100 to 10200 on upside.

Nifty Pharma Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for NIFTY Pharma for the week (November 07, 2016 – November 11, 2016) :

NIFTY PHARMA:

 

pharma

 

Nifty PHARMA index closed the week on negative note losing around 8.90%.

As we have mentioned last week that resistance for the index lies in the zone of 11700 to 11800 where the index has formed a top in the month of October – 2016. If the index manages to close above these levels then the index can move to the levels of 11900 to 12000 where the index has formed a triple top pattern. During the week the index manages to hit a high of 11705 and close the week around the levels of 10606.

Support for the index lies in the zone of 10350 to 10500 from where the index has bounced in the month of March – 2016 and June – 2016. If the index breaks below these levels on closing basis then the index can witness a free fall as no supports are visible. If the index breaks below these levels then the index can drift to the levels of 10000.

Resistance for the index lies in the zone of 10900 to 11050 where the index has formed a gap on 04/11/2016 on gap down opening. If the index manages to close above these levels then the index can move to the levels of 11200 to 11300 from where the index has broken down from the double bottom pattern and 200 Daily SMA is lying.

Broad range for the index is seen from 10200 to 10300 on downside to 10900 to 11000 on upside.

Nifty FMCG Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for NIFTY FMCG for the week (November 07, 2016 – November 11, 2016) :  

NIFTY FMCG:

 

fmcg

 

Nifty FMCG index closed the week on positive note gaining around 0.80%.

As we have mentioned last week that support for the index lies in the zone of 21100 to 21300 from where the index has broken out of the top of June – 2016. If the index manages to close below these levels then the index can drift to the levels of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying. During the week the index manages to hit a low of 21084 and close the week around the levels of 21659.

Support for the index lies in the zone of 21100 to 21300 from where the index has broken out of the top of June – 2016. If the index manages to close below these levels then the index can drift to the levels of 20500 where 200 Daily SMA is lying and trend-line joining lows of March – 2016 and May – 2016 is lying.

Minor resistance for the index lies in the zone of 21700 to 21900 from where the index has broken down from the lows of July – 2016 and August – 2016. If the index manages to close above these levels then the index can move to the levels of 22300 to 22500.

Broad range for the index in the coming week is seen from 20800 to 20900 on downside to 22000 to 22100 on upside.

Nifty IT Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for NIFTY IT for the week (November 07, 2016 – November 11, 2016) :

NIFTY IT:

 

it

 

Nifty IT index ended 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 10200 to 10300. Resistance for the index lies around 10500 to 10600 from where the index has broken down from the double bottom pattern 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 10900 to 11000 where long term moving averages are lying. During the week the index manages to hit a high of 10109 and close the week around the levels of 9924.

The index has closed below the major support zone of 10000 to 10100 from where the index has bounced in the month of February – 2016. The index has seen a major breakdown and no support is visible. If the index manages to close below these levels then the index can drift to the levels of 9500 to 9600.

Resistance for the index lies in the zone of 10000 to 10200 from where the index has broken down from the February – 2016 lows. If the index manages to close above these levels then the index can move to the levels of around 10500 to 10600 from where the index has broken down from the double bottom pattern.

Broad range for the index in the coming week is seen from 9700 to 9750 on downside to 10200 to 10300 on upside.

Nifty Bank Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Nifty Bank for the week (November 07, 2016 – November 11, 2016) :

NIFTY BANK:

 

bankn

 

Nifty Bank ended the week on negative note losing around 2.40%.

As we have mentioned last week that minor support for the index lies in the zone of 19400 to 19500. Support for the index lies in the zone of 19000 to 19100 from where the index has broken out of the 4 weeks of consolidation 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 18500 where the index has formed a base in the month of July – 2016 and August – 2016. During the week the index manages to hit a low of 18961 and close the week around the levels of 19058.

Support for the index lies in the zone of 19000 to 19100 from where the index has broken out of the 4 weeks of consolidation 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 18500 where the index has formed a base in the month of July – 2016 and August – 2016. If the index breaks below these levels then the index can drift to the levels of 18050 to 18200 where the index has formed a gap.

Minor resistance for the index lies in the zone of 19400 to 19500 where the index has formed a gap on 02/11/2016. Resistance for the index lies in the zone of 19700 to 19800 from where the index has broken down. If the index manages to close above these levels then the index can move to the levels of 20200 to 20400 where the index has made a top in the month of September – 2016.

Range for the week is seen from 18200 to 18300 on downside to 19400 to 19500 on upside.

Nifty Outlook for the Week (November 07, 2016 – November 11, 2016)

EquityPandit’s Outlook for Nifty for week (November 07, 2016 – November 11, 2016):

NIFTY:

 

nifty

 

Nifty ended the week on negative note losing around 2.20%.

As we have mentioned last week that minor resistance for the index lies in the zone of 8680 to 8720. Resistance for the index lies in the zone of 8810 to 8850 levels from where the index has broken down. If the index closes above these levels then the index can move to the levels of 8900 to 8950 where the index has made a top in the month of September – 2016. During the week the index manages to hit a high of 8670 and close the week around the levels of 8434.

The index has broken the trend-line joining the lows of March, April, May & June also coincides with the support zone of 8500 to 8550. Support for the index lies in the zone of 8350 to 8400 where the index has formed a gap on 11/07/2016. If the index breaks below these levels on closing basis then the index can drift to the levels of 8000 to 8100 levels where long term moving averages are lying.

Resistance for the index lies in the zone of 8500 to 8550 levels, which was holding the index since August – 2016. If the index manages to close above these levels then the index can move to the levels of 8650 to 8700.

It seems the index has formed a H & S pattern where neckline lies around the levels of 8500 to 8550. If the index has broken this pattern then the target for this can be in the range of 8100. The coming week can be highly volatile for global markets as Unites States is going for elections.

Broad range for the week is seen from 8100 on downside to 8700 on upside.