Weekly Outlook for Nifty and major indices (14/08/2017 to 18/08/2017)

WEEKLY
M
(14/0
© EquityPandit Financial Services Pvt. Ltd. |
Jagrut Shah
Sr. Research Analyst
EquityPandit Financial Services Pvt. Ltd.
305, Trinity Business Centre, L. P. Savani Road,
Surat - 395009
Gujarat
An ISO 9001:2008 Certified Company
DATE: 11/08/2017
EEKLY OUTLOOK FOR N
AND
MAJOR INDICES
/08/2017 - 18/08/2017)
© EquityPandit Financial Services Pvt. Ltd. | www.equitypandit.com | info@equitypandit.com
EquityPandit Financial Services Pvt. Ltd.
305, Trinity Business Centre, L. P. Savani Road,
An ISO 9001:2008 Certified Company
www.equitypandit.com
NIFTY
| info@equitypandit.com
Darpan Shah
Head - Research

NIFTYPAGE 2
Nifty closed the week on negative note losing around 3.50%.
As we have mentioned last week that minor support for the index lies in the zone of 9980 to
10020. Support for the index lies in the zone of 9900 to 9930 where break out levels for the
index is lying. If the index manages to close below these levels then the index can drift to the
levels of 9700 to 9740 from where the index broke out of June-2017 highs and short term
moving averages are lying. During the week the index manages to hit a low of 9686 and close
the week around the levels of 9711.
Support for the index lies in the zone of 9700 to 9740 from where the index broke out of
June-2017 high. If the index manages to close below these levels then the index can drift to
the levels of 9450 to 9500 where medium term moving averages are lying.
Resistance for the index lies in the zone of 9770 to 9820 where short term moving averages
are lying. If the index manages to close above these levels then the index can move to the
levels of 9950 to 10000 from where the index broke down after consolidation.
Broad range for the week is seen from 9400 on downside & 10000 on upside.

Nifty Bank closed the week on negative note losing around 3.40%.
As we have mentioned, last week that minor support for the index lies in the zone of 24500
to 24600. Support for the index lies in the zone of 23800 to 23900 from where the index
broke out of June-2017 highs and short term moving averages are lying. If the index manages
to close below these levels then the index can drift to the levels of 23300 to 23400 where
break out levels for the index is lying. During the week the index manages to hit a low of
23822 and close the week around the levels of 23986.
June-2017 highs and short term moving averages are lying. If the index manages to close
below these levels then the index can drift to the levels of 23300 to 23400 where break out
levels for the index is lying.
Resistance for the index lies in the zone of 24300 to 24400. If the index manages to close
above these levels then the index can move to the levels of 24500 to 24600 from where the
index broke down after consolidation.
Range for the week is seen from 23300 to 23400 on downside & 24500 to 24600 on upside.
NIFTY BANK

Nifty IT index closed the week on negative note losing around 1.00%.
As we have mentioned last week, that minor resistance for the index lies in the zone of
10700 to 10900. Resistance for the index lies in the zone of 11000 to 11050 where the index
has formed a top in the month of June-2017. If the index manages to close above these levels
then the index can move to the levels of 11200 to 11300 where the index has formed a top in
the month of August-2016. During the week the index manages to hit a high of 10758 and
close the week around the levels of 10647.
Support for the index lies in the zone of 10500 to 10600 where trend-line support and
Fibonacci levels for the index is lying. If the index manages to close below these levels then
the index can drift to the levels of 10300 to 10400 where short & long term moving averages
and Fibonacci levels are lying.
Minor resistance for the index lies in the zone of 10700 to 10800. Resistance for the index
lies in the zone of 11000 to 11050 where the index has formed a top in the month of June-
2017. If the index manages to close above these levels then the index can move to the levels
of 11200 to 11300 where the index has formed a top in the month of August-2016.
Broad range for the index in the coming week is seen from 10300 to 10400 on downside &
10900 to 11000 on upside.
NIFTY IT

Nifty FMCG index closed the week on negative note losing around 3.00%.
As we have mentioned last week, that support for the index lies in the zone of 25400 to
25500 where Fibonacci levels are lying. If the index manages to close below these levels then
the index can drift to the levels of 24600 to 24700 where Fibonacci levels and medium term
moving averages are lying. During the week the index manages to hit a low of 24665 and
Support for the index lies in the zone of 24600 to 24700 where Fibonacci levels 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 23900 to 24000 where break out levels for the index is lying.
Resistance for the index lies in the zone of 25100 to 25200 where lows for the month of July-
2017 and medium term moving averages are lying. If the index manages to close above these
levels then the index can move to the levels of 25500 to 25600 where Fibonacci levels are
lying.
Broad range for the index in the coming week is seen from 23900 to 24000 on downside &
25400 to 25500 on upside.
NIFTY FMCG

Nifty PHARMA index closed the week on negative note losing around 8.00%.
As we have mentioned last week, that support for the index lies in the zone of 9170 to 9230
where Fibonacci levels are lying. If the index manages to close below these levels then the
index can drift to the levels of 8600 to 8650 where the index has formed a bottom in the
month of May-2017. During the week the index manages to hit a low of 8314 and close the
week around the levels of 8521.
consolidation in the month of June-2014. If the index manages to close below these levels
then the index can drift to the levels of 8000 to 8050 where long term Fibonacci levels are
lying.
Resistance for the index lies in the zone of 8600 to 8650 from where the index broke down
from the lows of May-2017. If the index manages to close above these levels then the index
can move to the levels of 9000 to 9050 from where the index broke down.
Broad range for the index is seen from 8000 to 8050 on downside & 9000 to 9050 on upside.
NIFTY PHARMA

Nifty AUTO index closed the week on negative note losing around 6.10%.
As we have mentioned last week, that resistance for the index lies in the zone of 11150 to
11200 where channel resistance for the index is lying. If the index manages to close below
these levels then the index can move to the levels of 11500 to 11600 where Fibonacci levels
are lying. During the week the index manages to hit a high of 11247 and close the week
around the levels of 10458.
Feb-2017 highs. If the index manages to close below these levels then the index can drift to
the levels of 9900 to 10000 trend-line support and 200 daily moving averages are lying.
Resistance for the index lies in the zone of 10470 to 10520 where medium term moving
averages are lying. If the index manages to close below these levels then the index can move
to the levels of 10800 to 10900 from where the index broke down after consolidation and
short term moving averages are lying.
Broad range for the index is seen from 10000 to 10100 on downside & 11000 to 11100 on
upside.
NIFTY AUTO

Nifty ENERGY index closed the week on negative note losing around 4.00%.
As we have mentioned last week that support for the index lies in the zone of 12800 to
12900 from where the index broke out of July-2017 highs. If the index manages to close
below these levels then the index can drift to the levels of 12500 to 12600 from where the
index broke out of April-2017 highs and Fibonacci levels are lying. During the week the index
manages to hit a low of 12571 and close the week around the levels of 12659.
April-2017 highs and Fibonacci levels are lying. If the index manages to close below these
levels then the index can drift to the levels of 12000 to 12100 where short & medium term
moving averages are lying.
Minor resistance for the index lies in the zone of 12800 to 12900. Resistance for the index
lies in the zone of 13200 to 13250. If the index manages to close above these levels then the
index can move to the levels of 13500 to 13600.
Broad range for the index is seen between 12000 to 12100 on downside & 13000 to 13100
on upside.
NIFTY ENERGY

Nifty METAL index closed the week on negative note losing around 2.60%.
As we have mentioned last week, that minor support for the index lies in the zone of 3250 to
3270. Support for the index lies in the zone of 3200 to 3230 from where the index broke out
of March-2017 highs. If the index manages to close below these levels then the index can
drift to the levels of 3050 to 3100 where break out levels for the index is lying and short
term moving averages are lying. During the week the index manages to hit a low of 3194 and
March-2017 highs. If the index manages to close below these levels then the index can drift
to the levels of 3060 to 3100 where break out levels for the index is lying and short term
moving averages are lying.
Resistance for the index lies in the zone of 3300 to 3330. If the index manages to close above
these levels then the index can move to the levels of 3400 to 3450 where the index has
formed a short term top.
Broad range for the index is seen between 3050 to 3100 on downside & 3400 to 3450 on
upside.
NIFTY METAL

Nifty PSU BANK index closed the week on negative note losing around 8.60%.
As we have mentioned last week, that minor resistance for the index lies in the zone of 3630
to 3650. Resistance for the index lies in the zone of 3680 to 3700 from where the index
broke down in the month of May-2017. If the index manages to close above these levels then
the index can move to the levels of 3800 to 3850 where the index has formed a top in the
month of May-2017. During the week the index manages to hit a high of 3666 and close the
week around the levels of 3293.
Support for the index lies in the zone of 3200 to 3250 where the index has taken support in
the month of March-2017 and June-2017. If the index manages to close below these levels
then the index can drift to the levels of 3100 to 3140 where long term Fibonacci levels are
lying.
Resistance for the index lies in the zone of 3330 to 3350 where 200 daily moving averages
are lying. If the index manages to close above these levels then the index can move to the
levels of 3470 to 3500 short & medium term moving averages are lying.
upside.
NIFTY PSU BANK

Nifty REALTY index closed the week on negative note losing around 9.20%.
279. Support for the index lies in the zone of 275 to 277 from where the index broke out of
May-2017 and June-2017 highs. If the index manages to close below these levels then the
index can drift to the levels of 266 to 268 where break out levels for the index and short term
moving averages are lying. During the week the index manages to hit a low of 250 and close
the week around the levels of 255.
Minor support for the index lies in the zone of 248 to 250. Support for the index lies in the
zone of 240 to 242 where the index has taken support in the month of May-2017. If the index
manages to close below these levels then the index can drift to the levels of 218 to 220 where
long term Fibonacci levels and 200 daily moving averages are lying.
Resistance for the index lies in the zone of 258 to 260 from where the index has broken
down from the June-2017 lows and medium term moving averages are lying. If the index
manages to close above these levels then the index can move to the levels of 272 to 274 from
where the index broke down after consolidation and short term moving averages are lying.
Broad range for the index is seen between 240 to 242 on downside & 270 to 272 on upside.
NIFTY REALTY

Nifty Media index closed the week on negative note losing around 7.00%.
3100 where short term moving averages are lying. Support for the index lies in the zone of
3000 to 3030 from where the index broke out. If the index manages to close below these
levels then the index can drift to the levels of 2910 to 2940 where Fibonacci levels and 200
Daily moving averages are lying. During the week the index manages to hit a low of 2845 and
Support for the index lies in the zone of 2750 to 2800 where Fibonacci levels are lying. If the
index manages to close below these levels then the index can drift to the levels of 2670 to
2700 where break out levels for the index is lying.
Resistance for the index lies in the zone of 2910 to 2950 where Fibonacci levels and 200
daily moving averages are lying. If the index manages to close above these levels then the
index can move to the levels of 3030 to 3060 where short term moving averages are lying.
upside.
NIFTY MEDIA

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