Daily equity report sai proficient research

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{DAILY EQUITY REPORT (07/4/2016)}

SAI PROFICIENT RESEARCH DAILY EQUITY REPORT

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{DAILY EQUITY REPORT (07/4/2016)}

MARKET OUTLOOK

 Tata Motors gain 3% on launch of Tiago in India at Rs 3.2 lakh  Bharat Forge loses 5%, North American truck orders hit 2012 lows  North American Class 8 Truck orders stood at 15,800 units degrowth of 37 percent compared to a year-ago period and down 12 percent from preceding month.  JK Tyre -Writes off Rs 650 crore of Hardiwar plant investment: DNA -Move in order to wipe out losses suffered by earlier owner Kesoram Industries.  JMC Projects -Gets second provisional certificate to start operations at UP-MP border road project -Toll Plaza-II of Rewa MP-UP border road project fully operation.  Era Infra Engineering -Consortium of company & SRS Real Infra secures contracts from Government of Congo for USD 87.6 million (Rs 586 crore) -Also secures government contracts (India) for Rs 356.8 crore, jointly with JS Grover Constructions  Future Retail approves acquisition of FabFurnish.Com from Bluerock eServices for Rs 4.86 per share.  GP Petroleum’s launches Repsol Lubricants (Spanish Brand) in India.  RPG Life Sciences receives EUGMP certification for formulation facility at Ankleshwar.  LIC likely to e-auction Unitech's mortgaged land, Life Insurance Corporation (LIC) is all ready to auction Unitech mortgaged asset to recover outstanding dues of Rs 184 crore.

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NIFTY50 MARKET OUTLOOK :- Nifty are set to open lower ahead of Reserve Bank of India's monetary policy review on the back of weak trading of Nifty futures on the Singapore Stock Exchange amid negative global cues.

NSE NIFTY GAINED TO HOLD 7603.20 LEVEL IN TRADE TODAY, UP (+11.15) POINTS TO 7614.35 AT CLOSE.

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OBSERVATION:Nifty closed at 7614.35 with a gain of (+11.15) 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 7640 level it would witness buying which would lead the index towards 7680-7000 levels.However if index breaks below 7580 level it would witness selling which would take the index towards 7550-7520 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 is 7640 . If NIFTY trades above this level then we may witness a further rally up to 7680-7000 levels.

However, if NIFTY trades below 7580 levels then we may see some loss booking initiating in the market, which may correct up to 7 level.7550-7520.

DATE

INDEX

OPEN

CLOSE

07-4-2016

Nifty

7603.20

7614.35

SUPPORT2 7635

SUPPORT 1 7680

HIGH 7653.80

RESISTANCE 1 7635

LOW 7603.45

RESISTANCE 2 7680

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{DAILY EQUITY REPORT (07/4/2016)}

BANK NIFTY BANKNIFTY is outperform due to the RBI monetary policy MARKET OUTLOOK: - The Reserve Bank of India (RBI) today heard the government's clarion call, cutting its policy repo rate by 25 basis points to bring it down to 6.50 percent at the first bimonthly monetary policy meeting of the fiscal year.

DATE

INDEX

OPEN

CLOSE

07-4-2016

Bank nifty

15750

15636.95

SUPPORT 2 SUPPORT1 15560

15610

HIGH

LOW

15819

15621

RESISTANCE1

RESISTANCE2

15658

15680

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{DAILY EQUITY REPORT (07/4/2016)}

TATA MOTORS Tata Motors gain 3% on launch of Tiago in India at Rs 3.2 lakh MARKET OUTLOOK: - Tata Motors shares gained more than 3 percent intraday Wednesday.

After a series of delays, the company has finally launched the Tiago (earlier known as the Zica) in India at Rs 3.20 lakh (ex-Delhi) today.

DATE

STOCK

CMP

OPEN

CLOSE

07-4-2016

TATA MOTORS

276.90

273.65

276.60

SUPPORT 2 271

SUPPORT1 273

RESISTANCE1 279

HIGH 277.50

LOW 271.80

RESISTANCE2 283

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UNITECH LIC likely to e-auction Unitech's mortgaged land MARKET OUTLOOK :- Life Insurance Corporation (LIC) is all ready to auction Unitech ’mortgaged asset to recover outstanding dues of Rs 184 crore,LIC will e-auction Unitech 14 lakh square meter of land in Noida on May 6. The reserve price for the auction has been set at Rs 2,660 crore.

DATE

STOCK

07-4-2016

UNITECH

CMP 5.00

SUPPORT 2 SUPPORT1 3.85

4.85

OPEN

CLOSE

HIGH

4.95

5

5.05

RESISTANCE1 5.15

LOW 4.85

RESISTANCE2 6.85

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{DAILY EQUITY REPORT (07/4/2016)}

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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