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NIFTY DAILY OUTLOOK
17th February 2014

SWASTIKA INTELLIGENCE GROUP

Daily Nifty Levels
Pivot: 6028

R1: 6085
S1: 6030

R2: 6125
S2: 5975

R3: 6155
S3: 5930

MARKET SUMMARY:
The Indian equity benchmark index Nifty defended 200-day SMA for second time and then witnessed a
sharp recovery in second half of the trading session on the back of short covering from lower levels. The
day was started on optimistic note but any rise was being used as a selling opportunity by traders
which dragged nifty to below 6000 mark where near 200-day SMA of 5980 nifty found support and
witnessed a V-shape recovery supported by smart recovery in front line counters. IT and Oil & Gas
sectors outperformed while healthcare was only one sector which was closed in red. At the end nifty
closed at 6048 mark with decent gain of 0.79%.

Visit us at: - www.swastika.co.in
NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP

17th February 2014

CHART FORMATION:
 Nifty is still stuck in trading zone of 5975-6130.
 Nifty formed like a hammer candlestick formation on daily chart. .
 Nifty is forming a lower top lower bottom formation on daily chart.
 38.2% retracement of previous fall from 6360 to 5940 comes around 6100 mark.
 200-day is placed at 5980 mark while 9-day EMA is placed at 6106 mark.

TECHNICAL INDICATORS:
 Momentum indicator RSI turn to northwards while stochastic is still negatively poised.
 CCI has slipped from 100 and placed at -15 mark while MACD is placed at -58 mark with positive bias.

STRATEGY FOR TRADERS:
Nifty is showing reversal from support of 200-day SMA; hence traders should go long but with cautious
approach where 6025 will be intraday support.

Visit us at: - www.swastika.co.in
NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP

Report Prepared by
Santosh Meena
RESEARCH TEAM
Santosh Sahu
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta

17th February 2014

Designation
Derivative & Technical Analyst

E-mail ID
santosh.meena@swastika.co.in

SWASTIKA INTELLIGENCE GROUP
Research Head
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate

research@swastika.co.in
Santosh.sahu@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in

Disclaimer: This document is solely for the personal information of the intended recipient and must not be exceptionally used as the basi s for any investment
decision. Nothing in this document should be construed as investment, Legal, taxation or financial advice. Swastika Investmart Ltd. is not soliciting any action
based upon it. Each recipient of this document should make necessary investigations as they consider important to arrive at an independent evaluation of an
investment in the securities of the companies referred to in this document (including the merits and risks involved). This report has been made based on
information that we consider reliable and are publicly available but we do not state that it is accurate or complete and it should not be solely relied upon such, as
this document is for.
Swastika Investmart Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are
inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may
or may not subscribe to all the views expressed within this document.
Swastika Investmart Limited or any of its affiliates/ group companies, or employees shall not be in any way held responsible for any loss or damage that may arise
to any person from any inadvertent error in the information contained in this report.

Visit us at: - www.swastika.co.in

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Nifty daily outlook for 17th february 2014

  • 1. NIFTY DAILY OUTLOOK 17th February 2014 SWASTIKA INTELLIGENCE GROUP Daily Nifty Levels Pivot: 6028 R1: 6085 S1: 6030 R2: 6125 S2: 5975 R3: 6155 S3: 5930 MARKET SUMMARY: The Indian equity benchmark index Nifty defended 200-day SMA for second time and then witnessed a sharp recovery in second half of the trading session on the back of short covering from lower levels. The day was started on optimistic note but any rise was being used as a selling opportunity by traders which dragged nifty to below 6000 mark where near 200-day SMA of 5980 nifty found support and witnessed a V-shape recovery supported by smart recovery in front line counters. IT and Oil & Gas sectors outperformed while healthcare was only one sector which was closed in red. At the end nifty closed at 6048 mark with decent gain of 0.79%. Visit us at: - www.swastika.co.in
  • 2. NIFTY DAILY OUTLOOK SWASTIKA INTELLIGENCE GROUP 17th February 2014 CHART FORMATION:  Nifty is still stuck in trading zone of 5975-6130.  Nifty formed like a hammer candlestick formation on daily chart. .  Nifty is forming a lower top lower bottom formation on daily chart.  38.2% retracement of previous fall from 6360 to 5940 comes around 6100 mark.  200-day is placed at 5980 mark while 9-day EMA is placed at 6106 mark. TECHNICAL INDICATORS:  Momentum indicator RSI turn to northwards while stochastic is still negatively poised.  CCI has slipped from 100 and placed at -15 mark while MACD is placed at -58 mark with positive bias. STRATEGY FOR TRADERS: Nifty is showing reversal from support of 200-day SMA; hence traders should go long but with cautious approach where 6025 will be intraday support. Visit us at: - www.swastika.co.in
  • 3. NIFTY DAILY OUTLOOK SWASTIKA INTELLIGENCE GROUP Report Prepared by Santosh Meena RESEARCH TEAM Santosh Sahu Amit Khare Vishnu Shreekar Sonakshi Bahety Saloni Gupta 17th February 2014 Designation Derivative & Technical Analyst E-mail ID santosh.meena@swastika.co.in SWASTIKA INTELLIGENCE GROUP Research Head Commodity Analyst Commodity Analyst Research Associate Research Associate research@swastika.co.in Santosh.sahu@swastika.co.in amit.khare@swastika.co.in vishnu.shreekar@swastika.co.in Sonakshi.bahety@swastika.co.in Salony.gupta@swastika.co.in Disclaimer: This document is solely for the personal information of the intended recipient and must not be exceptionally used as the basi s for any investment decision. Nothing in this document should be construed as investment, Legal, taxation or financial advice. Swastika Investmart Ltd. is not soliciting any action based upon it. Each recipient of this document should make necessary investigations as they consider important to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved). This report has been made based on information that we consider reliable and are publicly available but we do not state that it is accurate or complete and it should not be solely relied upon such, as this document is for. Swastika Investmart Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within this document. Swastika Investmart Limited or any of its affiliates/ group companies, or employees shall not be in any way held responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Visit us at: - www.swastika.co.in