The document provides a daily technical analysis and outlook for the Nifty 50 and Bank Nifty indices in the Indian stock market. It notes that the Nifty may open flat around 8,200 levels and is expected to consolidate in the range of 8,160 to 8,230. Bank Nifty is seen finding resistance at 18,158-18,175 and support at 17,710-17,764, with a bearish bias expected till 17,830. Technical indicators and patterns are analyzed on daily and weekly charts for both indices. Individual stock recommendations are also provided based on technical factors.

1. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
Nifty Intraday
Today, We may witness flat opening in Nifty around 8200 level on back
of SGX Nifty and other Asian counters which is trading on mild positive
note today.
The Indian benchmark -- Nifty wiped out all its early gains in last
hour of trade to end marginally lower on account of profit booking
at higher level. After getting a gap-up start market traded in narrow
band with a gain of over half a percent as sentiments remained
optimistic on report that India’s exports in June rose 1.27 per cent
to $22.57 billion, snapping 18-month downward spiral to supported
the market. Some support also came with Reliance Industries
reporting better-than-expected Q1 numbers. The company reported
18 per cent jump in June quarter net profit. Consolidated net profit
at Rs 7,113 crore was 18.1 per cent higher than Rs 6,024 crore in the
same period last fiscal. However, market turned entered into
negative terrain in last leg of trade as traders opted to book profit at
higher level keeping a close watch on the monsoon session of
Parliament which started today amid hopes the government will be
able to pass the Goods and Services Tax Bill that is now stuck in the
Upper House. Some cautiousness crept in with the industry body
Assocham’s statement that government and the main opposition
party should get the long-stalled Constitutional Amendment Bill on
GST passed in the Rajya Sabha in first few days of the monsoon
session of Parliament.
On global front, Asian markets ended mostly in green following a
failed coup attempt in Turkey as energy and financial companies
advanced. European markets, after a positive start, were exhibiting
mixed trend. Back home, selling pressure in heavyweights like HDFC,
Bharti Airtel, Reliance Industries, HUL and ICICI Bank too dampened
sentiments.
4th Jan 2017
SENSEX 26,643 0.05%
NIFTY 8,192 0.15%
SGX Nifty* 8,192 0.09%
Global Indices
Dow Jones 19,881 0.60%
Nasdaq 5,429 0.83%
FTSE 7,177 0.49%
DAX 11,598 1.01%
Straits Times 2,884 0.10%
Nikkei 225 19,529 2.13%
Hang Seng 22,136 -0.06%
Commodities
Gold 27,778 0.75%
Silver 40,270 2.82%
Natural Gas 229 -9.61%
Crude Oil 3,590 -2.65%
Currency
Dollar / Rupee 68.33 0.00%
Euro / Rupee 70.99 -0.03%
Pound / Rupee 83.51 -0.02%
Volumes Rs.mn
Cash BSE 26,214 4.24
Cash NSE 1,57,118 15.00
FII Activities Rs.Cr.
Purchase Sale Net
916 1,269 -352
MF Activities Rs.Cr.
Purchase Sale Net
5563 4,512 1050
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
4th Jan 2017
L1 L2 L3
R 8225 8257 8296
S 8154 8115 8083
21 DEMA 8121
100 DEMA 8468
250 DEMA 8226
Moving Averages
L1 L2 L3
R 18157 18278 18442
S 17872 17708 17587
21 DEMA 18165
100 DEMA 19102
250 DEMA 18129
Moving Averages
 On a daily chart, Nifty opened with the gap down made new high as well as new low on intraday session
hence Nifty Closed at 8192 with a gain of 12 points.
 On a daily chart, Nifty has formed Doji candlestick pattern after black body formation at higher levels
which suggest uncertainty in coming trading session.
 On a weekly chart, Nifty has been finding support at 50 and 100 moving averages which are place at
8135 & 8172 respectively and another hand it will find resistance at 8230 which is 50 simple daily
moving averages.
 Going forward, with the above technical structure, we expect Nifty may consolidating in range of 8160 to
8230 one could buy only if nifty sustain above 8230
 On the daily chart, Bank Nifty opened the day gap up and closed at 18035 with a gain of 0.37 %.
 On the daily chart, Bank Nifty has formed bullish harami pattern which need next day bullish body as
conformation and other and Bank Nifty trading above 50% of previous week candle.
 Bank nifty may found resistance at 18158 and 18175 which is 20 and 200 simple daily moving averages
respectively whereas support at 17710 & 17764 which is 50 & 100 weekly simple moving averages
 Going forward, with the above technical structure, we expect bearish move till 17830 levels and below.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
4th Jan 2017
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1344 1393 1370 1357 1347 1334 1324 1300 Down Sell
ADANIPORTS 274 286 280 277 275 271 269 263 Down Sell
AMBUJACEM 215 221 218 217 215 214 213 210 Down Sell
ASIANPAINT 896 933 916 906 900 890 883 867 Down Sell
AUROPHARMA 673 689 680 677 672 668 663 654 Up Buy
AXISBANK 455 481 466 461 452 446 438 423 Up Buy
BAJAJ-AUTO 2619 2746 2675 2647 2604 2576 2533 2463 Up Buy
BANKBARODA 148 155 152 150 148 147 145 141 Down Sell
BHARTIARTL 301 333 319 310 305 296 291 277 Down Sell
BHEL 125 132 128 127 125 123 121 117 Up Buy
BOSCHLTD 20842 21732 21323 21083 20914 20673 20505 20095 Down Sell
BPCL 646 690 668 657 647 636 626 604 Down Sell
CIPLA 571 600 585 578 570 563 555 540 Up Buy
COALINDIA 307 320 312 310 305 302 297 289 Up Buy
DRREDDY 3072 3183 3133 3103 3084 3054 3035 2986 Down Sell
EICHERMOT 22449 23130 22802 22625 22474 22297 22145 21817 Down Sell
GAIL 441 461 451 446 440 435 429 418 Up Buy
GRASIM 867 903 887 877 871 861 855 839 Down Sell
HCLTECH 835 859 845 840 832 827 818 805 Up Buy
HDFC 1212 1256 1234 1223 1212 1201 1190 1168 Up Buy
HDFCBANK 1190 1225 1209 1199 1193 1183 1176 1160 Down Sell
HEROMOTOCO 2990 3097 3043 3017 2990 2963 2936 2882 Up Buy
HINDALCO 159 167 163 161 159 157 155 151 Up Buy
HINDUNILVR 828 853 840 834 827 821 813 800 Up Buy
ICICIBANK 255 265 259 257 253 251 247 241 Up Buy
IDEA 73 79 76 75 74 72 71 69 Down Sell
INDUSINDBK 1099 1162 1130 1115 1098 1083 1067 1035 Up Buy
INFRATEL 342 357 350 346 342 338 334 326 Down Sell
INFY 995 1040 1017 1006 994 983 971 948 Up Buy
ITC 243 256 249 246 243 240 236 230 Up Buy
KOTAKBANK 712 733 723 717 712 707 702 692 Down Sell
LT 1368 1411 1388 1378 1365 1355 1342 1319 Up Buy
LUPIN 1501 1548 1526 1513 1503 1490 1480 1457 Down Sell
M&M 1225 1259 1241 1233 1224 1216 1207 1190 Up Buy
MARUTI 5511 5673 5581 5546 5489 5455 5398 5306 Up Buy
NTPC 165 169 167 166 165 164 163 161 Up Buy
ONGC 193 198 195 194 193 191 190 187 Up Buy
POWERGRID 188 195 191 190 187 186 183 179 Up Buy
RELIANCE 1089 1121 1105 1097 1089 1081 1073 1057 Down Sell
SBIN 245 255 249 247 244 242 239 234 Up Buy
SUNPHARMA 636 657 647 641 637 631 627 616 Down Sell
TATAMOTORS 481 510 497 489 484 476 472 459 Down Sell
TATAMTRDVR 311 328 319 315 311 307 302 294 Down Sell
TATAPOWER 76 78 77 76 76 75 74 73 Down Sell
TATASTEEL 402 419 412 407 404 399 397 389 Down Sell
TCS 2361 2415 2387 2374 2359 2346 2330 2302 Up Buy
TECHM 489 506 498 494 490 486 483 475 Down Sell
ULTRACEMCO 3330 3489 3416 3373 3343 3300 3270 3197 Down Sell
WIPRO 468 486 478 473 469 464 461 452 Down Sell
YESBANK 1166 1224 1192 1179 1160 1147 1127 1095 Up Buy

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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4th Jan 2017
Kapil Shah
Research Associate
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Kapil Shah
Digitally signed by Kapil Shah
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email=kapil.shah@choiceindia.com, c=US
Date: 2017.01.04 09:12:32 +05'30'