Daily equity report sai proficient research

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{DAILY EQUITY REPORT (22/3/2016)}

SAI PROFICIENT RESEARCH DAILY EQUITY REPORT

22-3-2016 INFO@SAIPROFICIENT.COM SUPPORT@SAIPROFICIENT.COM

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{DAILY EQUITY REPORT (22/3/2016)}

MARKET OUTLOOK

 NIFTY closed with +99.90 or (+1.31%) at 7704.25  BANKNIFTY closed with +271.25 or (+1.73%) at 15926.10  NIFTY made rallies +99.90 reached at 7704.25  SUNPHARMA launches “ IMATINIB MESYLATE” in US.  BHEL has commissioned another 270 mw. Unit at Goindwal sahib coal fired power project in Punjab.  INDIABULLS HOUSING FINANCE is trying to increase its market share in home loan book from the current 50 percent to 60 percent.

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{DAILY EQUITY REPORT (22/3/2016)}

NIFTY50 NIFTY SET FOR BIG RALLY REACHED AT 7704.25 NSE NIFTY GAINED TO HOLD 7604 LEVEL IN TRADE TODAY, UP (+99.90 )POINTS TO 7704.25AT CLOSE.

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{DAILY EQUITY REPORT (22/3/2016)}

OBSERVATION:Nifty closed at 7704.25with a gain of +99.90 points. On the daily chart the index has formed a bullish candle indicating positive bias.The index is moving in a Higher Top and Higher Bottom formation on the daily chart indicating sustained up trend. The chart pattern suggests that if Nifty crosses and sustains above 7730 level it would witness buying which would lead the index towards 7730-7770 levels.However if index breaks below 7690 level it would witness selling which would take the index towards 76450-7630 Nifty continues to remain in an uptrend in the short to medium term, so buying on dips continues to be our preferred strategy. The daily strength indicator RSI is moving upwards and above its reference line indicating positive bias.

However momentum oscillator Stochastic has turned negative from the overbought zone indicating a possible consolidation or a down move in the near term The trend deciding level for the day is7620. If NIFTY trades above this level then we may witness a further rally up to 77307750-7770 levels. However, if NIFTY trades below 7690 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7640-7630.

Date

Index

Open

Close

High

Low

23-3-2016

Nifty

7604

7704.25

7723.20

7615.20

SUPPORT2

SUPPORT 1 RESISTANCE 1

RESISTANCE 2

7660

7684

7748

7725

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{DAILY EQUITY REPORT (22/3/2016)}

BANK NIFTY BANKNIFTY IS LIKELY TO PERFORM AS SAME AS NIFTY-50

DATE 23-3-2016

Index Bank Nifty

Open 15745

SUPPORT 2 SUPPORT1 15900

15920

Close 15926.10

High 15965.70

Low 15740

RESISTANCE1

RESISTANCE2

15965

15992

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{DAILY EQUITY REPORT (22/3/2016)}

SUNPHARMA SUNPHARMA LAUNCHES “ IMATINIB MESYLATE” IN US.

DATE

Index SUN PHARMA

23-3-2016

CMP

Open

835.95

820.55

SUPPORT 2 SUPPORT1 822

830

Close 836.45

High

Low

838.05

816.80

RESISTANCE1

RESISTANCE2

839

848

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{DAILY EQUITY REPORT (22/3/2016)}

BHEL BHEL HAS COMMISSIONED ANOTHER 270 MW. UNIT AT GOINDWAL SAHIB COAL FIRED POWER PROJECT IN PUNJAB.

Date

Stock

CMP

Open

Close

High

Low

23-3-2016

BHEL

111.95

113.40

111.95

113.80

111

SUPPORT 2 SUPPORT1 102

109

RESISTANCE1

RESISTANCE2

115

122

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{DAILY EQUITY REPORT (22/3/2016)}

INDIABULLS INDIABULLS HOUSING FINANCE IS TRYING TO INCREASE ITS MARKET SHARE IN HOME LOAN BOOK FROM THE CURRENT 50 PERCENT TO 60 PERCENT.

Date

Stock

CMP

Open

Close

High

Low

23-3-2016

INDIABULLS

648.25

620

645.60

651

618.25

SUPPORT 2 638

SUPPORT 1 645

RESISTANCE 1

RESISTANCE 2

652

658

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{DAILY EQUITY REPORT (22/3/2016)}

DISCLAIMER The information contained here was gathered from sources deemed reliable however; no claim is made as to accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time, nor should any examples presented be deemed as such. There is a risk of loss in equity trading and you should carefully consider your financial position before making a trade. This is not, nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as such. SAI PROFICIENT INVESTMENT ADVISORS does not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice. For use at the sole discretion of the investor without any liability on Sai Proficient Investment Advisors.

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