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April 2015 Snapshot – Nifty & BankNifty
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CONTENTS
Technical Analysis (M.A., PIVOTS, FIBO)
S&P CNX Nifty
Banknifty
Latest Updates
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TECHNICAL VIEW
Moving averages
Moving Averages 21 Day 50 Day 100 Day 200 Day
Daily 8650 8749 8592 8245
Weekly 8638 8155 7143 6275
Fibonacci retracement levels (Daily)
SCRIPT 0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
NIFTY 8323 8529 8655 8758 8861 9192
Weekly Pivot
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
Nifty 9085 9003 8921 8888 8839 8806 8757 8675 8593
Monthly Pivot
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
Nifty 9826 9466 9106 8980 8746 8620 8386 8026 7666
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Chart Analysis :- S&P CNX NIFTY
Nifty daily Chart
Nifty weekly Chart
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Observations
• The highs of the last two sessions have been broken on the upside in last trading
session and Nifty Futures closed at 8855.45.
• The upward journey continued in Nifty futures for a week and closed with the gains
of around 50+ points in last trading session i.e. on 13/04/2015.
• Currently Nifty future is trading above the short term 21 & 50 daily SMA which are
at 8650 and 8749.
• Nifty is consistently showing recovery from lower levels in the last couple of weeks
and any bearish signal candlestick patterns such as hanging man are not effective.
• On daily charts the positive crossover signal of MACD is considered as a trend
continuation signals for Nifty Futures as MACD is lagging indicator.
Conclusion
The short term trend of Nifty Futures is intact and continues to be up. Now if Nifty
futures gives closing above 61.8 % retracement level (i.e.8873) then further upward
trend may continue towards 9000 & then to the life time high. Immediate support is
to be considered are around 8760-8770 levels.
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Indicator Analysis
Signal (0 -
10)
RSI RSI is 62.0. According to RSI analysis, nifty just got
above it's resistance level and showing good signal.
9.0
MACD MACD: 14.3 and Signal Line: -24.6. According to
MACD analysis, nifty is technically strong.
8.0
Simple Moving Average According to simple moving average analysis, nifty
is in a uptrend. Support level is at 8.71e+03.
9.0
Exponential Moving Average According to exponential moving average analysis,
nifty is in a strong uptrend. Major support levels
are 8663.539, 8644.923, 8159.351.
10.0
Bollinger Bands %b is 0.931. According to bollinger bands, nifty has
moved strongly towards upper band, which is a
positive signal.
9.0
Fibonacci Retracement According to fibonacci retracement, price is above
all levels. Major support is at 8794.4809 and
8694.175. And resistance is at 9119.2.
2.0
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BANKNIFTY
Moving averages
Moving Averages 21 Day 50 Day 100 Day 200 Day
Daily 18681 18873 18912 17355
Weekly 19047 16895 14153 12411
Fibonacci retracement levels (Daily)
SCRIPT 0.0% 23.6% 38.2% 50.0% 61.8% 100.0%
BANKNIFTY 17710 18425 18870 19235 19595 20740
Weekly Pivot
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANKNIFTY 19468 19268 19068 18962 18868 18762 18668 18468 18268
Monthly Pivot
SCRIPT R4 R3 R2 R1 P S1 S2 S3 S4
BANKNIFTY 20966 20207 19448 19152 18689 18393 17930 17171 16412
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On the above chart Banknifty is trading in range bound levels. Currently it has given
closing below 38.2 % retracement level (ie.18872) and there is strong resistance of
19040-19110 so sustaining above the 50% retracement (ie.19234) may lead a bullish
rally in Banknifty.
On the daily chart Banknifty has been consolidating and it is trading below the
crucial resistance of 19110 and in weekly chart also it has not broken upside
resistance so selling might be seen for short term and if it manages to sustain
above 19250 then it will create a good buying opportunity for traders up to the
level of 19550.
Indicator Analysis Signal (0
- 10)
RSI RSI is 51.7. According to RSI analysis, banknifty is technically weak. 1.0
MACD MACD: -92.5 and Signal Line: -164.0. According to MACD analysis, banknifty is marginally strong.
7.0
Simple Moving Average
According to simple moving average analysis, banknifty is facing resistance from its 50-day simple moving average at 18978.37 and
support level is at 1.86e+04.
2.0
Exponential Moving Average
According to exponential moving average analysis, banknifty is in a uptrend. Support level is at 1.88e+04.
9.0
Bollinger Bands %b is 0.691. 5.0
Fibonacci Retracement
According to fibonacci retracement, price is above 38.2% level. Support is at 18797.4686. Resistance levels are 19130.5 and
19463.5314.
3.0
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Latest Updates
April 11, 2015
Industrial index production at 5% in March
Industrial output shows some signs of revival with the IIP in February accelerating by 5 percent, led by mining and manufacturing sectors.
April 13, 2015
Food prices drive March CPI lower to 5.17%
Retail inflation, as measured by the consumer price index (CPI), slowed to 5.17
percent year-on-year in March, government data released today showed,
compared to 5.37 percent in February. The fall was largely broad-based with
food inflation, which constitutes nearly half the index, coming in at 6.14 percent
compared to 6.79 percent in February, clothing and footwear slowed to 6.27
percent YoY from 6.38 percent, though fuel and light inflation perked up a bit.
Accelerating by 5 percent, led by mining and manufacturing sectors.
April 14, 2015
India's GDP growth rate to reach 8% by 2017: World Bank
In India, GDP growth is expected to accelerate to 7.5 percent in fiscal year 2015/16. It could reach 8 percent in FY 2017/18, on the back of significant acceleration of investment growth to 12 percent during FY 2016-FY 2018. The country is attempting to shift from consumption to investment-led growth, at a time when China is undergoing the opposite transition, it said. The bank's twice-a-year South Asia Economic Focus report projected steady increase in regional growth from 7 percent in 2015 to 7.6 percent by 2017 .
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