Weekly Outlook for Nifty and major indices (01 November, 2016 to 04 November, 2016)

DATE: 28/10/2016
WEEKLY OUTLOOK FOR
NIFTY AND
MAJOR INDICES
(01/11/2016 - 04/11/2016)
© 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.
305, Trinity Business Centre, L. P. Savani Road,
Surat - 395009
Gujarat
An ISO 9001:2008 Certified Company
www.equitypandit.com

NIFTYPAGE 2
Nifty ended the week on negative note losing around 0.60%.
As we have mentioned last week that minor resistance for the index lies in the zone of 8650 to
8700. Resistance for the index lies in the zone of 8810 to 8850 levels from where the index has
broken down. If the index closes above these levels then the index can move to the levels of 8900
to 8950 where the index has made a top in the month of September - 2016. During the week the
index manages to hit a high of 8737 and close the week around the levels of 8638.
Support for the index lies in the zone of 8500 to 8550 from where the index has bounced in the
month of July - 2016 and August - 2016. The trend-line joining the lows of March, April, May &
June also coincides with the support zone of 8500 to 8550. If the index manages to break this
trend-line, the up-trend in which the index is moving since March will be broken and we can see
the index drifting lower. If the index breaks below these levels on closing basis for couple of days
then the index can drift to the levels of 8350 and then 8000 levels can also be not ruled out.
Minor resistance for the index lies in the zone of 8680 to 8720. Resistance for the index lies in the
zone of 8810 to 8850 levels from where the index has broken down. If the index closes above
these levels then the index can move to the levels of 8900 to 8950 where the index has made a
top in the month of September - 2016.
Broad range for the week is seen from 8450 on downside to 8850 on upside.

Nifty Bank ended the week on negative note losing around 0.80%.
As we have mentioned last week that resistance for the index lies in the zone of 19700 to 19800
from where the index has broken down. If the index manages to close above these levels then the
index can move to the levels of 20200 to 20400 where the index has made a top in the month of
September - 2016. During the week the index manages to hit a high of 19923 and close the week
around the levels of 19556.
Minor support for the index lies in the zone of 19400 to 19500. Support for the index lies in the
zone of 19000 to 19100 from where the index has broken out of the 4 weeks of consolidation
and medium term moving averages are lying. If the index manages to close below these levels
then the index can drift to the levels of 18500 where the index has formed a base in the month of
July - 2016 and August - 2016.
Resistance for the index lies in the zone of 19700 to 19800 from where the index has broken
down. If the index manages to close above these levels then the index can move to the levels of
20200 to 20400 where the index has made a top in the month of September - 2016.
Range for the week is seen from 19000 to 19100 on downside to 20200 to 20300 on upside.
NIFTY BANK

Nifty IT index ended the week on negative note losing around 4.00%.
As we have mentioned last week that minor support for the index lies in the zone of 10280 to
10320. Support for the index lies in the zone of 10000 to 10100 from where the index has
bounced in the month of February - 2016. The index has seen a major breakdown and no support
is visible. If the index manages to close below these levels then the index can drift to the levels of
9500 to 9600. During the week the index manages to hit a low of 10027 and close the week
around the levels of 10048.
Support for the index lies in the zone of 10000 to 10100 from where the index has bounced in
the month of February - 2016. The index has seen a major breakdown and no support is visible.
If the index manages to close below these levels then the index can drift to the levels of 9500 to
9600.
Minor resistance for the index lies in the zone of 10200 to 10300. Resistance for the index lies
around 10500 to 10600 from where the index has broken down from the double bottom pattern
and short term moving averages are lying. If the index manages to close above these levels then
the index can move to the levels of 10900 to 11000 where long term moving averages are lying.
Broad range for the index in the coming week is seen from 9700 to 9750 on downside to 10300
to 10400 on upside.
NIFTY IT

Nifty FMCG index closed the week on absolutely flat note.
As we have mentioned last week that support for the index lies in the zone of 21100 to 21300
from where the index has broken out of the top of June - 2016. If the index manages to close be-
low these levels then the index can drift to the levels of 20500 where 200 Daily SMA is lying and
trend-line joining lows of March - 2016 and May - 2016 is lying. During the week the index man-
ages to hit a low of 21086 and close the week around the levels of 21548.
Support for the index lies in the zone of 21100 to 21300 from where the index has broken out of
the top of June - 2016. If the index manages to close below these levels then the index can drift to
the levels of 20500 where 200 Daily SMA is lying and trend-line joining lows of March - 2016 and
May - 2016 is lying.
Minor resistance for the index lies in the zone of 21700 to 21900 from where the index has bro-
ken down from the lows of July - 2016 and August - 2016 and short term moving averages are
lying. If the index manages to close above these levels then the index can move to the levels of
22200 to 22300.
Broad range for the index in the coming week is seen from 20800 to 20900 on downside to
22000 to 22100 on upside.
NIFTY FMCG

Nifty PHARMA index closed the week on positive note gaining around 0.70%.
where medium term and long term moving averages are lying. If the index manages to close be-
low these levels then the index can drift to the levels of 11100 to 11200 from where the index
has bounced in the month of August - 2016. If the index manages to break these levels on closing
basis then the index can witness the correction to the levels of 10600 to 10800 from where the
index has bounced in the month of June - 2016. During the week the index manages to hit a low
of 11413 and close the week around the levels of 11572.
Support for the index lies in the zone of 11300 to 11400 where medium term and long term mov-
ing averages are lying. If the index manages to close below these levels then the index can drift to
the levels of 11100 to 11200 from where the index has bounced in the month of August - 2016.
Resistance for the index lies in the zone of 11700 to 11800 where the index has formed a top in
the month of October - 2016. If the index manages to close above these levels then the index can
move to the levels of 11900 to 12000 where the index has formed a triple top pattern.
Broad range for the index is seen from 11200 to 11300 on downside to 11800 to 11900 on up-
side.
NIFTY PHARMA

Nifty AUTO index closed the week on negative note losing around 0.40%.
As we have mentioned last week that minor support for the index lies in the zone of 10060 to
10120. Support for the index lies in the zone of 9850 to 9900 where the index has broke out of
the top made in the month of August - 2016. If the index manages to close below these levels
then the index can drift to the levels of 9450 to 9500 from where the index has bounce couple of
times in the month of August - 2016. During the week the index manages to hit a low of 9874 and
close the week around the levels of 10057.
Minor support for the index lies in the zone of 10060 to 10120. Support for the index lies in the
zone of 9850 to 9900 where the index has broke out of the top made in the month of August -
2016. If the index manages to close below these levels then the index can drift to the levels of
9450 to 9500 from where the index has bounce couple of times in the month of August - 2016.
Minor resistance for the index lies in the zone of 10350 to 10400. Resistance for the index lies in
the zone of 10500. As the index is trading at the all time highs, virtually no resistance is visible.
Broad range for the index is seen from 9700 to 9750 on downside to 10400 to 10500 on upside.
NIFTY AUTO

Nifty ENERGY index closed the week on absolutely flat note.
from where the index has broken out of the top formed in the month of September - 2016. If the
index manages to close below these levels then the index can drift to the levels of 9600 to 9700
where short term moving averages are lying. During the week the index manages to hit a low of
10003 and close the week around the levels of 10092.
Support for the index lies in the zone of 9900 to 10000 from where the index has broken out of
the top formed in the month of September - 2016. If the index manages to close below these lev-
els then the index can drift to the levels of 9600 to 9700 where short term moving averages are
lying.
Minor resistance for the index lies in the zone of 10200 to 10300. Resistance for the index lies in
the zone of 10400 to 10500. If the index manages to close above these levels then the index can
move to the levels of 10700 where life time high for the index is lying.
Broad range for the index is seen between 9600 to 9700 on downside to 10400 to 10500 on up-
side.
NIFTY ENERGY

About EquityPandit
EquityPandit was established in year 2005. Today, EquityPandit is one of
the Leading Equity Research Company in India, with around 33400 active
subscribers around the globe, who enjoy huge profits in association with
EquityPandit.
We have been in this industry for a LONG time. In fact, we were among the
First few Indian entities in the Advisory domain to venture onto the Inter-
net.
Today, we have subscribers... in 32 countries worldwide who trust us!
We are an ISO Certified company for quality of our services.
We were the First Company to bring research and advisory based on Tech-
nical analysis on internet in India, until then, only investment research
was available on internet in India.
Disclaimer:
The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities
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
their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy
and completeness. Minimum amount mentioned here depends upon stock prices and market conditions and
will vary accordingly.

EquityPandit Premium Services
EP-F&O Special is EquityPandit’s huge profits generating package. In this service we provide you with an ex-
cellent F&O calls in equity and Indexes like Nifty and bank Nifty. This service is basically for F&O Traders. Here
you will receive 2-4 calls daily. Huge profits are earned every month.
In this package we provide huge profits every month on consistent basis. Our subscribers earn huge profits
every month.
Know more about EP-F&O Special package
EP-Basic is Intraday Package which is meant for intraday traders. Calls are provided live during market hours
by SMS. 2-3 Intraday calls are given within a day. EquityPandit provides assured daily profits in this package i.e
everyday you would end up with profits. High accuracy of 90-95% is maintained consistently. Know more
EP-Investor is EquityPandit's Flagship product. This package is for short term investments. Recommenda-
tions given in this package are midcap and smallcap multibaggers. Each and every call provided in this package
gives 15-25% profits in short term and most of our call gives more than 100% profits in small time duration. A
most famous and appreciated package among investors in Indian Stock Market. Know more about EP-Investor
package

Weekly Outlook for Nifty and major indices (01 November, 2016 to 04 November, 2016)

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (20)

Similar to Weekly Outlook for Nifty and major indices (01 November, 2016 to 04 November, 2016)

Similar to Weekly Outlook for Nifty and major indices (01 November, 2016 to 04 November, 2016) (11)

Recently uploaded

Recently uploaded (20)

Weekly Outlook for Nifty and major indices (01 November, 2016 to 04 November, 2016)