Weekly Outlook for Nifty and major indices (March 28, 2016 - April 01, 2016)

DATE: 27/03/2016
WEEKLY OUTLOOK FOR
NIFTY AND
MAJOR INDICES
(28/03/2016 - 01/04/2016)
© EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com
Jagrut Shah Darpan Shah
Sr. Research Analyst Head - Research
EquityPandit Financial Services Pvt. Ltd.
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www.equitypandit.com

NIFTYPAGE 2
Nifty ended the week on positive note gaining around 1.50%.
As we have mentioned last week that support for the index lies in the zone of 7500 from
where the index has broken down after making the double bottom pattern. If the index man-
ages to close below this levels then the index can drift to the levels of 7400 where the index
has opened with the gap up on 03/03/2016 and short term moving averages are lying. Dur-
ing the week the index manages to hit a low of 7617 and bounce to close the week around
the levels of 7716.
Support for the index lies in the zone of 7500 to 7600 from where the index has broken
down after making the double bottom pattern and 100 Daily SMA is lying. If the index man-
ages to close below this levels then the index can drift to the levels of 7400 where the index
has opened with the gap up on 03/03/2016 and short term moving averages are lying.
Minor resistance for the index lies in the zone of 7720 where the index has opened gap down
on 07/01/2016. Resistance for the index lies in the zone of 7900 where 200 & 500 Daily SMA
is lying. If the index manages to close above this levels then the index can move to the levels
of 8100 where trend-line joining earlier highs is lying.
Broad range for the week is seen from 7500 on downside to 7900 on upside.

Nifty Bank ended the week on positive note gaining around 1.50%.
As we have mentioned last week that the index has closed around the resistance zone of
15600 to 15800 where the index has made a low in the month of September - 2015. If the
index manages to close above this levels then the index can move to the levels of 16000
where 100 Daily SMA is lying. During the week the index manages to hit a high of 15968 and
close the week around the levels of 15888.
Minor support for the index lies in the zone of 15600 to 15800 where the index has made a
low in the month of September - 2015. Support for the index lies in the zone of 15000 to
15200 where short term moving averages are lying. If the index manages to close below this
levels then the index can drift to the levels of 14750 where the index has opened with a gap
up on 02-03-2016.
Resistance for the index lies in the zone of 16000 where 100 Daily SMA is lying. If the index
manages to close above this levels then the index can move to the levels of 16300 to 16400
where the index has opened the gap down on 07/01/2016.
Range for the week is seen from 15300 to 15500 on downside to 16200 to 16300 on upside.
NIFTY BANK

Nifty IT index ended the week on positive note gaining around 0.60%.
As we have mentioned last week that resistance for the index lies in the zone of 11200 to
11300 where 200 Daily SMA is lying. If the index manages to close above this levels then the
index can move to the levels of 11600 where trend-line joining earlier highs is lying. During
the week the index manages to hit a high of 11246 and close the week around the levels of
11228.
Support for the index lies in the zone of 11000 where 100 & 500 Daily SMA is lying. If the in-
dex manages to close below this levels then the index can drift to the levels of 10600 to
10700 from where the index has broken down from the lows of Jan - 2016.
Resistance for the index lies in the zone of 11200 to 11300 where 200 Daily SMA is lying. If
the index manages to close above this levels then the index can move to the levels of 11600
where trend-line joining earlier highs is lying.
Broad range for the index in the coming week is seen from 11000 on downside to 11600 on
upside.
NIFTY IT

Nifty FMCG index closed the week on positive note gaining around 0.40%.
As we have mentioned last week that the index has closed around the strong resistance zone
of 19500 to 19600 where 100 & 500 Daily SMA and channel resistance is lying. If the index
manages to close above this levels then the index can move to the levels of 19800 to 20000
where 200 Daily SMA is lying. During the week the index manages to hit a high of 19960 and
close the week around the levels of 19629.
Resistance for the index lies in the zone of 19800 to 20000 where 200 Daily SMA is lying and
trend-line joining earlier highs is lying. If the index manages to close above this levels then
the index can move to the levels of 20500.
Support for the index lies in the zone of 19500 where 100 & 500 Daily SMA is lying. If the in-
dex manages to close below this levels then the index can drift to the levels of 18800 to
19000 where the index has formed a short term top.
Broad range for the index in the coming week is seen from 19000 on downside to 20000 on
upside.
NIFTY FMCG

Nifty PHARMA index closed the week on positive note gaining around 1.00%.
As we have mentioned last week that the index has closed around the support zone of 11000
where channel support and 500 Daily SMA is lying. If the index manages to close below this
levels then the index can drift to the levels of 10500 where weekly trend-line support for the
index is lying. During the week the index manages to hit a low of 11079 and close the week
around the levels of 11198.
The index has closed around the support zone of 11000 where channel support and 500
Daily SMA is lying. If the index manages to close below this levels then the index can drift to
the levels of 10500 where weekly trend-line support for the index is lying.
Minor resistance for the index is lying in the zone of 11300 where short term moving aver-
ages are lying. Resistance for the index lies in the zone of 11500 to 11600 where 100 Daily
SMA is lying. If the index manages to close above this levels then the index can move to the
levels of 11800 to 12000 where 200 Daily SMA is lying.
Broad range for the index is seen from 10800 to 11000 on downside to 11500 to 11600 on
upside.
NIFTY PHARMA

Nifty AUTO index closed the week on positive note gaining around 2.90%.
As we have mentioned last week that the resistance for the index lies in the zone of 7800 to
7900 where 100 & 500 Daily SMA is lying. If the index manages to close above this levels
then the index can move to the levels of 8000 where 200 Daily SMA is lying. During the week
the index manages to hit a high of 8004 and close the week around the levels of 7991.
Support for the index lies in the zone of 7800 to 7900 where 100 & 500 Daily SMA is lying. If
the index manages to close below this levels then the index can drift to the levels of 7400 to
7500 where short term moving averages are lying.
The index has closed around the strong resistance zone of 8000 where 200 Daily SMA is ly-
ing. If the index manages to close above this levels then the index can move to the levels of
8300 from where the index has sold off in the month of Jan - 2016.
Broad range for the index is seen from 7700 to 7750 on downside to 8100 to 8150 on upside.
NIFTY AUTO

Nifty ENERGY index closed the week on positive note gaining around 0.40%.
As we have mentioned last week that strong support for the index lies in the zone of 8100 to
8200 where 100, 200 and 1000 Daily SMA is lying. If the index manages to close below this
levels then the index can drift to the levels of 8000. During the week the index manages to hit
a low of 8276 and close the week around the levels of 8309.
Strong support for the index lies in the zone of 8100 to 8200 where 100, 200 and 1000 Daily
SMA is lying. If the index manages to close below this levels then the index can drift to the
levels of 8000.
Resistance for the index lies in the zone of 8500 to 8700 where 500 Daily SMA and 100
Weekly SMA is lying. If the index manages to close above this levels then the index can move
to the levels of 9100.
Broad range for the index is seen between 8050 to 8100 on downside to 8450 to 8500 on up-
side.
NIFTY ENERGY

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mentioned. No representations can be made that the recommendations contained herein will be profitable or
that they will not result in losses. Readers using the information contained herein are solely responsible for
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Weekly Outlook for Nifty and major indices (March 28, 2016 - April 01, 2016)

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Weekly Outlook for Nifty and major indices (March 28, 2016 - April 01, 2016)