The document provides an intraday analysis of the Nifty 50 index and Bank Nifty index for December 16, 2016. It notes that the indexes may open mildly negative due to declines in Asian markets. It analyzes recent price movements and technical indicators for both indexes and predicts that Nifty may see further declines to around 8,080 while Bank Nifty could rise to around 18,100. The analysis also provides outlooks 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 8146 level on
back of SGX Nifty and other Asian counters which is trading on positive note
today.
The local benchmark, Nifty continued its southward journey for second
consecutive day on Thursday and finished the choppy day of trade with cut of
over three tens of a percent. Sentiments took a hit as the US Federal Reserve
signaled a faster-than-expected pace of tightening next year, spurring fears of
dollar outflows from emerging markets. Investors also reminded cautious
with industry body CII’s report that India's economic growth will see a
'significant fall' in the second half of the current fiscal on account of cash
crunch following demonetisation. As far as corporate earnings are concerned,
the consumer goods sector has seen sales drop by 20 per cent in the last
month. However, losses remained capped with Chief Economic Advisor Arvind
Subramanian’s statement that the Indian economy is ‘well cushioned’ to
absorb the impact of US Federal Reserve's rate hike. According to
Subramanian, India is seen as better equipped than its other emerging market
peers to weather the impact of higher U.S. interest rates because of its
stronger economic growth and record high foreign exchange reserves of more
than $300 billion. Meanwhile, liquor stocks such as Globus Spirits, Pincon
Spirit, Radico Khaitan and United Spirits declined after the Supreme Court
ordered closure of liquor shops along the national and state highways.
According to Supreme Court, liquor shops must be 500 meters away from
state and national highways and it has ordered immediate removal of all sign
boards of liquor ads on national and state highways. On the global front, Asian
equity markets ended mostly lower on Thursday after the Federal Reserve
raised rates for the first time in a year and hinted at the risk of a faster pace of
tightening than investors were positioned for.
The top gainers in Nifty index were AXISBANK, TCS, ONGC, INDUSINDBK,
M&M. While on the other hand, top losers were SUNPHARMA, TATAMTRDVR,
NTPC, GRASIM, AMBUJACEM.
16th December 2016
SENSEX 26,519 -0.32%
NIFTY 8,154 -0.35%
SGX Nifty* 8,174 -0.09%
Global Indices
Dow Jones 19,852 0.30%
Nasdaq 5,457 0.37%
FTSE 6,999 0.71%
DAX 11,366 1.07%
Straits Times 2,937 0.21%
Nikkei 225 19,406 0.68%
Hang Seng 22,059 0.00%
Commodities
Gold 27,019 -2.10%
Silver 39,295 -6.19%
Natural Gas 234 -1.96%
Crude Oil 3,487 -0.29%
Currency
Dollar / Rupee 67.83 0.59%
Euro / Rupee 70.73 0.13%
Pound / Rupee 84.10 -0.17%
Volumes Rs.mn
Cash BSE 25,823 8.36
Cash NSE 171,086 5.93
FII Activities Rs.Cr.
Purchase Sale Net
4956.65 5,307 -350.33
MF Activities Rs.Cr.
Purchase Sale Net
681.6 931 -249.7
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
16th December 2016
L1 L2 L3
R 8212 8271 8316
S 8108 8063 8004
21 DEMA 8198
50 DEMA 8322
100 DEMA 8365
Moving Averages
L1 L2 L3
R 18581 18762 18991
S 18172 17942 17762
21 DEMA 18580
50 DEMA 18870
100 DEMA 18788
Moving Averages
 On daily chart, Nifty opened with gap down and bounces back from lower level but it closed with loss of 28
point from yester days closed.
 Moreover, yesterday Nifty has found resistance at 200 simple daily moving averages which is placed at 8225.
Whereas it has taken support at 20days simple moving averages which is placed at 8125. So it suggests trading
range is 8230 to 8130 in near term.
 Besides that, Nifty has formed an inverted hammer candlestick pattern which is bullish reversal pattern to
validate pattern confirmation is required with bullish big body candle.
 On other hand, Nifty has been trading below important resistance level.
 A momentum indicator RSI has reading at 45 level with bearish crossover as well as below center line point out
negative breath for index.
 Going forward, with the above technical structure, we expect negative move in the Index up to the level of
8080.
 On daily chart, Bank Nifty opened with gap down and bounces back from lower level and closed with gain of
0.33%. Till now Bank Nifty is trading has been trading inside previous week candle.
 On daily chart, Bank Nifty has been finding resistance 20 daily simple moving averages since past 5 day. Bank
Nifty couldn’t sustain above 20 daily simple moving averages. Moreover Bank Nifty trading in range of 18100 to
18800 now Bank Nifty trading near lower band of range.
 Besides that, weekly chart price has tested last week low with is placed at 17960
 On daily chart Money Flow Index (MFI) reading at 35 levels in negative territory which suggest money is not
flowing in security. Whereas on weekly chart MFI follow very sharply and given fresh sell signal however still one
more day are remaining to complete the week.
 Going forward, with the above technical structure, we expect positive move in the Index up to the level of 18100.

3. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
16th December 2016
Symbols CLOSE R3 R2 R1 P S1 S2 S3 Trend Action
ACC 1310 1347 1338 1324 1314 1301 1291 1268 Down Sell
ADANIPORTS 285 298 295 290 286 281 278 269 Down Sell
AMBUJACEM 201 211 209 205 203 199 197 191 Down Sell
ASIANPAINT 903 928 922 913 907 898 892 877 Down Sell
AUROPHARMA 694 724 716 705 697 686 678 659 Down Sell
AXISBANK 479 506 493 486 472 465 452 432 Up Buy
BAJAJ-AUTO 2675 2776 2738 2706 2667 2636 2597 2527 Up Buy
BANKBARODA 160 167 164 162 159 157 154 149 Up Buy
BHARTIARTL 319 326 324 321 319 317 315 310 Down Sell
BHEL 125 129 128 127 125 124 122 120 Down Sell
BOSCHLTD 20015 21110 20805 20410 20105 19710 19405 18705 Down Sell
BPCL 615 650 640 628 618 605 596 573 Down Sell
CIPLA 564 591 584 574 567 557 549 532 Down Sell
COALINDIA 290 297 296 293 291 288 287 282 Down Sell
DRREDDY 3106 3201 3181 3143 3123 3085 3064 3006 Down Sell
EICHERMOT 21550 22525 22296 21923 21694 21321 21092 20490 Down Sell
GAIL 416 433 429 422 418 412 408 397 Down Sell
GRASIM 834 876 866 850 839 823 812 786 Down Sell
HCLTECH 830 857 849 839 831 821 813 795 Down Sell
HDFC 1262 1296 1287 1274 1265 1252 1243 1220 Down Sell
HDFCBANK 1177 1224 1209 1193 1178 1162 1148 1117 Down Sell
HEROMOTOCO 3173 3294 3247 3210 3163 3126 3079 2995 Up Buy
HINDALCO 177 182 180 178 176 174 172 167 Up Buy
HINDUNILVR 817 833 828 823 818 813 808 798 Down Sell
ICICIBANK 260 266 264 262 260 258 256 252 Up Buy
IDEA 77 80 79 78 77 76 75 73 Up Buy
INDUSINDBK 1085 1135 1114 1100 1078 1064 1042 1007 Up Buy
INFRATEL 351 366 362 357 353 348 345 336 Down Sell
INFY 992 1041 1030 1011 1000 981 970 940 Down Sell
ITC 229 239 237 233 231 227 225 219 Down Sell
KOTAKBANK 725 758 746 736 724 713 701 679 Up Buy
LT 1355 1383 1375 1365 1357 1347 1339 1321 Down Sell
LUPIN 1480 1510 1500 1490 1480 1470 1460 1440 Down Sell
M&M 1188 1232 1214 1201 1184 1170 1153 1122 Up Buy
MARUTI 5153 5324 5260 5207 5143 5090 5026 4909 Up Buy
NTPC 160 168 166 163 161 158 157 152 Down Sell
ONGC 206 217 213 209 205 202 198 191 Up Buy
POWERGRID 184 192 189 186 183 181 178 173 Up Buy
RELIANCE 1051 1082 1075 1063 1056 1044 1037 1018 Down Sell
SBIN 265 277 272 269 264 260 255 247 Up Buy
SUNPHARMA 650 696 685 667 656 639 628 599 Down Sell
TATAMOTORS 463 481 478 470 466 459 455 444 Down Sell
TATAMTRDVR 297 313 310 303 299 293 289 279 Down Sell
TATAPOWER 78 82 81 80 79 77 76 73 Down Sell
TATASTEEL 421 443 435 428 420 413 406 391 Up Buy
TCS 2257 2355 2314 2285 2244 2215 2173 2103 Up Buy
TECHM 477 497 490 483 476 469 462 448 Up Buy
ULTRACEMCO 3259 3351 3331 3295 3275 3239 3219 3163 Down Sell
WIPRO 467 484 478 472 466 461 455 444 Up Buy
YESBANK 1187 1225 1215 1201 1190 1176 1166 1142 Down Sell
ZEEL 437 459 453 445 440 431 426 412 Down Sell

4. Equity Bazaar
SEBI Registered– Research Analyst Equities I Commodities I Currencies I Mutual Funds
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16th December 2016
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Date: 2016.12.16 09:06:59 +05'30'