The document provides an analysis and outlook of the Indian stock market. It states that the Nifty may open mildly lower but has crossed above important resistance levels, signaling potential upside. Bank Nifty also closed lower but has crossed support and may see gains up to 17800-18000. Overall, the analysis indicates some key stocks are in an uptrend and recommends buying while others are in a downtrend and recommends selling. The summary provides the key points regarding the current market outlook and analysis.

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 8160
level on back of SGX Nifty and other Asian counters which is
trading on mixed note today.
Domestic equity index -- Nifty -- ended higher on Wednesday on
account of buying by investors in the blue chips counters. Investors'
sentiment remained upbeat with the report that the country
became the fastest growing nation in the world for the January-
March quarter, as the nation's gross domestic product (GDP) grew
7.9% in the fourth quarter, against a projected 7.7%. Further,
traders were also getting encouragement with growth in the eight
core sectors, which jumped to 8.5% in April, on account of a sharp
pick-up in refinery products and a commensurate rise in electricity
generation. Besides, some support also came in with Finance
Minister Arun Jaitley's statement that Indian economy is treading
the upward curve in its growth trajectory and investors wanting
higher returns should park funds in infrastructure and
manufacturing sector. However, upside remained capped as
investors booked profit at higher level and weak cues from the
global markets.
The top gainers in Nifty index were ADANIPORTS, ASIANPAINT,
BHARTIARTL, ITC, INFRATEL. While on the other hand, top loser
was SBIN, TATAMOTORS, BANKBARODA, CIPLA, TATAMTRDVR.
2nd June,2016
SENSEX 26,714 0.17%
NIFTY 8,180 0.24%
SGX Nifty* 8,184 -0.24%
Global Indices
Dow Jones 17,790 0.01%
Nasdaq 4,952 0.08%
FTSE 6,192 -0.63%
DAX 10,204 -0.57%
Straits Times 2,800 0.33%
Nikkei 225 16,568 -2.34%
Hang Seng 20,719 -0.20%
Commodities
Gold 28,646 0.07%
Silver 38,460 0.16%
Natural Gas 161 3.91%
Crude Oil 3,308 -0.76%
Currency
Dollar / Rupee 67.48 0.27%
Euro / Rupee 75.56 0.17%
Pound / Rupee 97.27 0.08%
Volumes Rs.mn
Cash BSE 25,350 -34.43
Cash NSE 173,837 -51.52
FII Activities Rs.Cr.
Purchase Sale Net
19124.57 19,356 -231.81
MF Activities Rs.Cr.
Purchase Sale Net
6776.2 5,200 1576.1
Indian Markets
*Sources- Bloomberg, Moneycontrol, Zeebusiness, livemint

2. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Outlook
Bank Nifty Outlook
 Bank Nifty closed at 17423 with loss of -1.12%. Bank Nifty opened on mild positive note and thereafter
moved in sideways till closing bell, Bank Nifty has formed shaven top which represents selling at higher
end.
 Bank Nifty has crossed above its 50% retracement level and horizontal resistance band which is
positive development.
 Among Bank Nifty index 11 banking stock ended on negative note, Some of the public sector bank
witnessed profit booking.
 Going forward, as nifty crossed its immediate hurdle and entered into positive territory. On higher side
immediate potential up move will be in the range of 17800 to 18000 level.
2nd June,2016
 Nifty opened on mild positive note but not able to sustain at higher level, initial hour was volatile
thereafter Nifty entered into tight consolidation phase.
 Nifty closed at 8179 level with gain of 19 points or 0.22%. From candlestick perspective Nifty has formed
inside candle which represents indecisiveness at current juncture.
 Nifty has breached its downward slopping channel and index has surpassed its 50% retracement level
which is positive development.
 Going forward, Nifty has ironed out its immediate hurdle and it had entered into positive territory. From
Positional perspective we may see level around 8200 to 8250 level.
L1 L2 L3
R 8207 8233 8251
S 8162 8144 8118
21 DEMA 7896
50 DEMA 7809
100 DEMA 7587
Moving Averages
L1 L2 L3
R 17137 17774 17877
S 17321 17218 17043
21 DEMA 16823
50 DEMA 16427
100 DEMA 15723
Moving Averages

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Derivative Front:
The VIX decreased by 1.31% and reached 15.83. The 50-share
Nifty was down by 19.85 points or 0.24% to settle at 8,179.95.
The top gainers from the F&O segment were Adani Ports and
Special Economic Zone, Reliance Communications and Page
Industries. On the other hand, the top losers were Canara Bank,
Ashok Leyland and Union Bank of India. On the other hand,
traders exited from 8600 Call, while 8400 call witnessed
considerable OI addition.
The Nifty Put Call Ratio (PCR) finally stood at 1.18 for May
month contract. The top five scrips with highest PCR on OI were
Indusind Bank (1.62), Maruti Suzuki India (1.32), UCO Bank
(1.07), ITC (1.00) and Mindtree (1.00).
2nd June,2016
Long Built Up
Symbol Close Price Chng % OI Chng % Buy Above
ASIANPAINT 1020.20 3.30 12.17 1032.56
ABIRLANUVO 1089.05 3.31 10.67 1106.89
PIDILITIND 721.70 2.04 10.32 728.37
RCOM 49.7 4.85 5.09 50.90
Short Covering
Symbol Close Price Chng % OI Chng % Buy Above
JUSTDIAL 675.55 2.57 -11.72 685.46
NIFTYIT 11487.00 0.53 -11.57 11513.74
TORNTPHARM 1370.05 1.31 -8.20 1380.42
AJANTPHARM 1544.9 0.90 -5.82 1561.71
Short Built Up
Symbol Close Price Chng % OI Chng % Sell Below
NMDC 87.15 -2.08 7.15 88.20
HAVELLS 356.00 -1.74 7.00 360.03
TATAELXSI 1797.80 -1.05 6.26 1814.17
BHEL 118.65 -2.18 6.00 120.43
Long Liquidation
Symbol Close Price Chng % OI Chng % Sell Below
SRF 1287.95 -1.03 -7.20 1304.41
KPIT 179.50 -0.91 -6.05 180.68
UCOBANK 33.70 -2.74 -4.53 34.23
HINDALCO 103.9 -1.93 -4.20 105.12

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
2nd June,2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1559 1613 1581 1570 1549 1538 1517 1485 Up Buy
ADANIPORTS 202 221 210 206 199 195 188 178 Up Buy
AMBUJACEM 232 240 235 234 231 230 227 223 Up Buy
ASIANPAINT 1024 1085 1049 1036 1013 1000 977 941 Up Buy
AUROPHARMA 788 826 809 798 792 782 776 759 Down Sell
AXISBANK 512 556 537 524 517 505 498 478 Down Sell
BAJAJ-AUTO 2612 2686 2651 2631 2616 2596 2581 2546 Down Sell
BANKBARODA 139 151 146 142 140 137 135 129 Down Sell
BHARTIARTL 364 384 372 368 360 356 348 336 Up Buy
BHEL 119 128 124 121 119 117 115 110 Down Sell
BOSCHLTD 22160 23009 22630 22395 22251 22016 21871 21492 Down Sell
BPCL 988 1017 1003 996 989 982 975 961 Down Sell
CIPLA 463 491 479 471 467 459 455 443 Down Sell
COALINDIA 298 316 306 302 296 292 285 275 Up Buy
DRREDDY 3183 3287 3239 3211 3192 3163 3144 3096 Down Sell
EICHERMOT 18680 19281 18972 18826 18663 18517 18354 18045 Up Buy
GAIL 372 385 378 375 372 369 365 359 Up Buy
GRASIM 4357 4476 4418 4387 4360 4329 4302 4244 Down Sell
HCLTECH 736 763 750 743 737 730 725 712 Down Sell
HDFC 1243 1277 1259 1251 1240 1232 1222 1204 Up Buy
HDFCBANK 1176 1201 1189 1182 1177 1170 1165 1153 Down Sell
HEROMOTOCO 3087 3220 3158 3123 3097 3061 3035 2973 Down Sell
HINDALCO 103 110 107 105 104 102 101 98 Down Sell
HINDUNILVR 857 890 873 865 855 847 838 821 Up Buy
ICICIBANK 241 254 248 244 242 238 235 229 Down Sell
IDEA 117 124 120 119 117 115 113 109 Up Buy
INDUSINDBK 1106 1126 1115 1111 1104 1099 1092 1081 Up Buy
INFRATEL 385 405 393 389 382 377 370 359 Up Buy
INFY 1256 1302 1279 1268 1257 1245 1234 1212 Down Sell
ITC 361 377 368 365 359 355 350 340 Up Buy
KOTAKBANK 749 765 756 752 746 743 737 728 Up Buy
LT 1466 1517 1493 1480 1470 1457 1447 1424 Down Sell
LUPIN 1492 1534 1512 1502 1490 1480 1468 1446 Up Buy
M&M 1334 1382 1359 1346 1336 1324 1314 1291 Down Sell
MARUTI 4155 4268 4218 4186 4168 4136 4118 4068 Down Sell
NTPC 145 151 148 146 144 143 140 137 Up Buy
ONGC 211 218 215 213 211 209 208 205 Down Sell
POWERGRID 149 154 152 150 149 148 147 145 Down Sell
RELIANCE 953 985 971 962 957 948 943 928 Down Sell
SBIN 199 225 213 206 201 194 189 178 Down Sell
SUNPHARMA 755 798 779 767 760 748 741 722 Down Sell
TATAMOTORS 447 477 463 455 450 442 437 423 Down Sell
TATAMTRDVR 308 331 321 315 311 305 301 291 Down Sell
TATAPOWER 73 78 76 74 73 72 71 68 Down Sell
TATASTEEL 332 354 344 338 334 328 324 313 Down Sell
TCS 2634 2765 2691 2662 2617 2588 2543 2469 Up Buy
TECHM 539 552 546 543 540 537 534 528 Down Sell
ULTRACEMCO 3235 3338 3286 3261 3234 3209 3182 3130 Up Buy
WIPRO 555 572 562 558 552 548 542 532 Up Buy
YESBANK 1023 1078 1049 1036 1021 1008 992 964 Up Buy
ZEEL 450 468 458 454 448 444 438 428 Up Buy

5. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Contact Us
www.choiceindia.com
Kunal Parmar
Research Associate
kunal.parmar@choiceindia.com
Vikas Chaudhari
Research Associate
vikas.chaudhari@choiceindia.com
www.choiceindia.comcustomercare@choiceindia.com
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial
instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in
any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but
Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast
future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations
issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility
or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without
notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended
purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may
be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is
strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current
performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee
against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock /
Instrument (s): - No.
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
2nd June,2016
Kapil Shah
Research Associate
kapil.shah@choiceindia.com
Kapil Shah
Digitally signed by Kapil Shah
DN: cn=Kapil Shah, o=Choice Equity Broking Pvt Ttd.,
ou=Research Department,
email=kapil.shah@choiceindia.com, c=IN
Date: 2016.06.02 08:30:27 +05'30'