All posts by EquityPandit

CNX Energy Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for CNX Energy for week (August 10, 2015 – August 14, 2015):

CNX ENERGY:

 

 CNX Energy

CNX ENERGY index closed the week on negative note losing around 0.5%.

As we have mentioned last week that the index has formed a Evening star pattern on weekly charts in an uptrend indicating the trend reversal. If the index closes below the levels of 8650 the index can move to the levels of 8400 and the index hit a low of 8565 and close the week on positive note around the levels of 8666 above the levels of 8650.

The index has formed a Shooting Star pattern on monthly charts in an uptrend indicating the trend reversal. The index has to close above the levels of 9000 to negate bearish pattern on weekly and monthly charts.

Support for the index lies in the zone of 8600 to 8650 where 100 Daily SMA and 500 Daily SMA are positioned.

Resistance for the index is lying in the zone of 8700 to 8800 where 200 Daily SMA and trend-line are positioned.

Broad range for the index is seen between 8500 to 8550 on downside to 8900 to 8950 on upside.

CNX Auto Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for CNX Auto for week (August 10, 2015 – August 14, 2015):

 

CNX AUTO:

 

CNX Auto

 

 

CNX AUTO index closed the week on positive note gaining around 3%.

As we have mentioned last week that if the index manages to close above the levels of 8650, the index will break-out of the 3 months consolidation and the index can move to the levels of 8800 and the index hit a high of 8862 before closing the week around the levels of 8795.

The index has formed a Shooting star pattern on daily charts on 07/08/2015 indicating the trend reversal in an uptrend. If the index manages to close above the levels of 8862 the index can move to the levels of 9000.

Support for the index lies in the zone of 8600 to 8700 from where the index has broken out and also short term moving averages are positioned around this levels.

Resistance for the index lies in the zone of 8650 to 8700 above which the index can move to the levels of 9000.

Broad range for the index is seen from 8550 to 8600 on downside to 8900 to 9000 on upside.

CNX Pharma Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for CNX Pharma for week (August 10, 2015 – August 14, 2015):

 

CNX PHARMA:

 

CNX Pharma

 

 

CNX PHARMA index closed the week on positive note gaining more than 2%.

As we have mentioned last week that if the index manages to move above the resistance zone of 12500 the index can move to the levels of 12800 and index hit a high of 12788 and retraced to the levels of 12620.

The index has formed a Shooting star pattern on monthly charts in an uptrend. The index has to sustain above the levels of 13200 on closing basis on monthly charts to negate this pattern. If the index closes below the levels of 11800 the index can drift to the levels of 11200.

Support for the index lies in the zone of 12300 to 12500 where short term moving averages and 100 Daily SMA are lying.

Resistance for the index lies in the zone of 12800 where trend-line resistance is positioned. Above the levels of 12800 the index can move to the levels of 13200.

Broad range for the index is seen from 12000 to 12200 on downside to 12800 to 13000 on upside.

CNX FMCG Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for CNX FMCG for week (August 10, 2015 – August 14, 2015):

 

CNX FMCG:

 

cnxfmcg

 

 

CNX FMCG index closed the week on absolutely flat note.

As we have mentioned last week that the index has the significant resistance around the zone of 21100 and the index hit a high of 21150 and retraced back to the levels of 20750 before ending the week around the levels of 20900.

The index has formed a Doji pattern on weekly charts indicating the indecision among the traders about the further direction of the index.

Support for the index lies in the range of 20500 to 20700 where short term moving averages are positioned below which the index can drift to the levels of 20100 to 20300 where 100 Daily SMA and 200 Daily SMA are positioned.

Resistance for the index lies in the zone of 21100. If the index manages to cross above the resistance zone of 21100 the index can move to the levels of 21600.

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

CNX IT Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for CNX IT for week (August 10, 2015 – August 14, 2015):

 

CNX IT:

 

cnxit

CNX IT index closed the week on absolutely flat note.

During the first half of the week the index could not sustain above the resistance zone of 11600 and index sold off to the levels of 11380. On 05/08/2015 the index recovered and close above the resistance zone of 11600.

As we have mentioned last week that the index has formed a Bullish engulfing pattern on monthly charts. If the index manages to close above the levels of 11800 the index will break-out of the 3 months consolidation, the index hit a high of 11740 levels and retraced back to the levels of 11600.

If the index manages to close above the levels of 11800 the index can move to the levels of 12800 to 13000 in 1 to 2 months time frame.

Support for the index lies around the zone of 11400 to 11500 where short term moving averages and trend-line support are lying.

Resistance for the index lies in the zone of 11800 to 11900 where upper end of the channel is positioned.

Broad range for the index in the coming week is seen from 11200 on downside to 12000 on upside.

BankNifty Outlook for Next Week (August 10, 2015 – August 14, 2015)

EquityPandit’s Outlook for BankNifty for week (August 10, 2015 – August 14, 2015):

 

BANKNIFTY:

 

BankNifty

 

Bank Nifty ended the week on positive note gaining around 1%.

As we have been mentioning since last 2 weeks that the index is facing significant resistance around the zone of 19100 to 19200 levels where upper end of downward sloping channel is positioned, this week also the index has hit a high of 19103 levels and retraced back to the levels of 18800 before closing the week around the levels of 18900.

Since last 3 days the index has been consolidating in the range of 18800 on downside to 19100 on upside.

If 18800 on the index is broken the index can drift to the levels of 18650 where short term moving averages are positioned. Around the zone of 18400 – 18500 the index has major support where 100 Daily SMA and 200 Daily SMA are positioned.

Resistance for the index lies in the zone of 19100 above which the index can move to the levels of 19500.

Range for the week is seen from 18300 to 18500 on downside to 19200 to 19500 on upside.