The document provides an analysis of the Indian stock market indices Nifty and Bank Nifty. It notes that both indices opened higher but declined through the day, with Nifty closing down 0.24% and Bank Nifty down 0.45%. It analyzes technical support and resistance levels for both indices and concludes that Nifty may trade in a range of 7700-7900 with downside support at 7680, while Bank Nifty is likely to remain weak below 17000 level. The document also provides daily market summaries including top gainers and losers, derivative analysis, and technical charts with support and resistance levels for various stocks.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness mild negative opening in Nifty around 7720
level on back of SGX Nifty and other Asian counters which is
trading on mixed note today.
Domestic equity index -- Nifty -- ended lower amid volatile trades
on the back of profit booking by fund s and retail investors in the
front line blue chips counters. Investor’s sentiment remained
cautious ahead of expiry of May derivative contracts due on
Thursday. Further, Prospects of early interest rate hike by the US
Federal Reserve in June and slip in crude oil prices also hurt market
participant sentiment. Moreover, investors remained concerned
with Reserve Bank of India (RBI) Governor Raghuram Rajan’s
statement that India should restrain itself from being “too
ambitious” at a time when the world is full of uncertainties and
instead focus on sensible policies to ensure a sustainable economic
growth. Rajan has also said that Indian economy has certainly
picked up pace in growth, but certain sectors are still under stress,
making the economic recovery uneven. Further, stellar rally in ITC
shares, rupee rallied on increased selling of the US currency by
exporters and banks, too supported investors’ sentiment.
The gainers in Nifty index were ITC, POWERGRID, INFRATEL, ACC,
TATAPOWER. While on the other hand, top losers were LUPIN,
TATASTEEL, ONGC, CIPLA, BANKBARODA.
24th May,2016
SENSEX 25,230 -0.28%
NIFTY 7,731 -0.24%
SGX Nifty* 7,729 -0.10%
Global Indices
Dow Jones 17,493 -0.05%
Nasdaq 4,766 -0.08%
FTSE 6,136 -0.32%
DAX 9,842 -0.75%
Straits Times 2,758 -0.32%
Nikkei 225 16,543 -0.67%
Hang Seng 19,766 -0.22%
Commodities
Gold 29,684 -0.02%
Silver 39,665 -0.43%
Natural Gas 139 0.43%
Crude Oil 3,251 -0.92%
Currency
Dollar / Rupee 67.49 0.07%
Euro / Rupee 75.77 0.22%
Pound / Rupee 97.95 0.35%
Volumes Rs.mn
Cash BSE 20,848 -16.45
Cash NSE 146,010 1.40
FII Activities Rs.Cr.
Purchase Sale Net
3696.95 5,158 -1461.01
MF Activities Rs.Cr.
Purchase Sale Net
6947 8,550 -1603
Indian Markets
*Sources- Bloomberg, Moneycontrol, Zeebusiness, livemint

2. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Outlook
BankNifty Outlook
21 DEMA 7830
50 DEMA 7731
100 DEMA 7576
Moving Averages
L1 L2 L3
R 7790 7850 7884
S 7697 7663 7604
L1 L2 L3
R 17137 16692 16782
S 16318 16228 16086
21 DEMA 16638
50 DEMA 16070
100 DEMA 15707
Moving Averages
 Bank Nifty closed at 16407 with loss of -0.45%. Bank Nifty opened on strong positive note but did not
able to sustain at higher level and continued to slide down thereafter.
 Bank Nifty is sliding for past 8 trading session and recently index has breached its 21 and 250 days
moving average.
 Among Bank Nifty index 9 banking stock ended on negative note, major pain came from public sector
banks.
 Going forward, Bank Nifty likely to trade with negative bias till it sustain below 17000 level from
positional perspective. On down side immediate support will be 16350 level.
24th May,2016
 Nifty opened on strong positive note but did not able to sustain at higher level and continued to slide
down thereafter. Volatility continued on 10th day as Nifty kept on swung between green zone to red zone.
 Nifty closed at 7731 level with loss of -18 points or -0.24%. From candlestick perspective Nifty has
formed bear candle.
 Nifty again started to trade below 21 DMA and 250 DMA which are potential support point for Nifty.
 Going forward, Nifty seems to be in the range of 7700 to 7900. Fresh upside momentum can be expected
above 7900 level only. On downside immediate support will be around 7680 level.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The VIX decreased by 1.61% and reached 16.16. The 50-share
Nifty was down by 18.65 points or 0.24% to settle at
7,731.05.
The top gainers from the F&O segment were The ITC, Shriram
Transport Finance Company and Biocon. On the other hand,
the top losers were Lupin, Tata Steel and Oil & Natural Gas
Corporation. In the index options segment, maximum OI was
being seen in the 7700-8500 calls and 7000-7900 puts. In
today's session, while the traders preferred to exit 7800 put,
heavy buildup was seen in the 7650 put. On the other hand,
traders exited from 7900 Call, while 7750 call witnessed
considerable OI addition.
The Nifty Put Call Ratio (PCR) finally stood at 0.76 for May
month contract. The top five scrips with highest PCR on OI
were Indiabulls Real Estate (1.33), Indusind Bank (1.32), ITC
(1.13), Bharti Infratel of India (1.07) and Axis bank (1.05).
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
TATACHEM 415.85 2.05 1.81 417.65
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
CESC 567.80 6.28 -57.56 577.16
IBULHSGFIN 692.25 1.34 -49.34 700.46
JSWSTEEL 1319.65 1.67 -49.17 1331.28
SKSMICRO 605.55 2.73 -40.44 612.94
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
AMARAJABAT 919.40 -3.87 15.92 939.84
JUSTDIAL 682.50 -2.96 9.92 724.37
CASTROLIND 370.40 -12.90 3.26 373.21
PETRONET 260.4 -6.16 2.27 263.63
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
BHARTIARTL 345.55 -4.05 -40.73 348.32
SUNPHARMA 784.85 -1.66 -40.20 790.54
HDFCBANK 1138.90 -0.32 -38.64 1144.52
HDFC 1163.15 -3.64 -35.77 1172.01
24th May,2016

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Symbols OPEN HIGH LOW CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1393 1428 1390 1420 1489 1451 1435 1413 1397 1375 1337 Up Buy
ADANIPORTS 179 182 178 181 189 185 183 180 178 176 171 Up Buy
AMBUJACEM 210 213 209 212 221 216 214 212 210 207 202 Up Buy
ASIANPAINT 960 960 944 949 984 967 958 951 942 935 918 Down Sell
AUROPHARMA 776 780 754 754 815 789 771 763 745 737 711 Down Sell
AXISBANK 495 495 485 486 510 499 492 489 482 478 468 Down Sell
BAJAJ-AUTO 2461 2464 2409 2413 2539 2484 2448 2428 2393 2373 2318 Down Sell
BANKBARODA 136 136 131 132 143 138 135 133 130 128 123 Down Sell
BHARTIARTL 347 349 342 346 360 353 349 345 342 338 331 Up Buy
BHEL 120 120 118 119 123 121 120 119 118 117 115 Down Sell
BOSCHLTD 21114 21394 20866 20970 22132 21604 21287 21077 20760 20549 20022 Down Sell
BPCL 927 932 911 918 962 941 929 920 908 899 878 Down Sell
CIPLA 510 510 495 495 530 515 505 500 490 485 470 Down Sell
COALINDIA 281 282 278 281 287 284 283 280 279 277 274 Up Buy
DRREDDY 3020 3047 3019 3034 3090 3062 3048 3033 3020 3005 2977 Up Buy
EICHERMOT 18380 18440 18200 18200 18760 18520 18360 18280 18120 18040 17800 Down Sell
GAIL 375 380 368 370 397 385 378 373 366 361 349 Down Sell
GRASIM 4225 4259 4191 4206 4354 4287 4246 4219 4179 4151 4083 Down Sell
HCLTECH 738 740 732 732 750 743 737 735 730 727 719 Down Sell
HDFC 1184 1187 1158 1162 1227 1198 1180 1169 1151 1140 1112 Down Sell
HDFCBANK 1142 1150 1133 1135 1173 1156 1146 1139 1129 1123 1106 Down Sell
HEROMOTOCO 2902 2905 2869 2890 2959 2924 2907 2888 2871 2852 2817 Up Buy
HINDALCO 88 88 86 87 92 89 88 87 86 85 83 Down Sell
HINDUNILVR 817 826 813 819 845 832 825 819 813 806 794 Down Sell
ICICIBANK 222 224 220 221 229 225 223 222 219 218 215 Down Sell
IDEA 110 111 109 110 115 112 111 110 109 108 105 Up Buy
INDUSINDBK 1072 1080 1050 1054 1121 1091 1072 1061 1043 1032 1002 Down Sell
INFRATEL 378 388 376 385 407 395 390 383 378 371 358 Up Buy
INFY 1203 1205 1185 1188 1233 1213 1201 1193 1180 1173 1152 Down Sell
ITC 350 355 340 347 377 362 355 347 340 332 317 Up Buy
KOTAKBANK 706 711 701 701 724 714 707 704 698 695 685 Down Sell
LT 1264 1266 1238 1244 1305 1277 1260 1249 1232 1221 1193 Down Sell
LUPIN 1522 1527 1451 1455 1629 1553 1504 1478 1429 1402 1327 Down Sell
M&M 1301 1301 1280 1286 1331 1310 1298 1289 1277 1268 1247 Down Sell
MARUTI 3964 3968 3900 3904 4061 3992 3948 3924 3880 3856 3788 Down Sell
NTPC 137 138 135 136 142 139 138 136 135 134 131 Down Sell
ONGC 214 215 208 208 224 217 212 210 205 203 196 Down Sell
POWERGRID 146 149 145 149 155 151 150 148 146 144 140 Up Buy
RELIANCE 937 941 926 931 963 948 939 932 924 917 902 Down Sell
SBIN 172 173 168 168 179 174 171 170 167 165 161 Down Sell
SUNPHARMA 793 794 779 785 815 800 793 786 778 772 757 Down Sell
TATAMOTORS 389 390 380 383 404 394 389 384 379 375 365 Down Sell
TATAMTRDVR 266 266 259 260 276 269 265 262 257 255 247 Down Sell
TATAPOWER 71 71 70 71 73 72 71 71 70 70 68 Down Sell
TATASTEEL 325 326 313 314 344 331 322 317 309 304 291 Down Sell
TCS 2544 2546 2480 2483 2634 2569 2526 2503 2460 2437 2372 Down Sell
TECHM 478 481 473 475 493 484 480 476 472 468 460 Down Sell
ULTRACEMCO 3136 3157 3110 3130 3225 3179 3154 3132 3108 3086 3039 Down Sell
WIPRO 544 544 538 539 553 547 543 541 537 534 528 Down Sell
YESBANK 983 985 975 975 999 989 982 978 971 968 957 Down Sell
24th May,2016

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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24th May,2016
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Date: 2016.05.24 08:46:57 +05'30'