Weekly Outlook for Nifty and major indices (21/08/2017 to 25/08/2017)

WEEKLY
M
(21/0
© 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: 18/08/2017
EEKLY OUTLOOK FOR N
AND
MAJOR INDICES
/08/2017 - 25/08/2017)
© 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 positive note gaining around 1.30%.
As we have mentioned last week, that 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. During the week the index manages to hit a high of 9948 and close
the week around the levels of 9837.
Support for the index lies in the zone of 9780 to 9810 where short term moving averages are
lying. 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 9950 to 10000 from where the index broke down
after consolidation. If the index manages to close above these levels then the index can move
to the levels of 10080 to 10120 where the index has formed a top.
Broad range for the week is seen from 9600 on downside & 10050 on upside.

Nifty Bank closed the week on positive note gaining around 0.40%.
As we have mentioned, last week that 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. During the week
the index manages to hit a high of 24496 and close the week around the levels of 24074.
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.
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 0.70%.
As we have mentioned last week, that 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. During the week
the index manages to hit a low of 10475 and close the week around the levels of 10570.
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 10200 to 10300 on downside &
10800 to 10900 on upside.
NIFTY IT

Nifty FMCG index closed the week on positive note gaining around 3.90%.
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. During the week the index manages to hit a
high of 25751 and close the week around the levels of 25719.
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 25000
to 25200 where medium term moving averages and break out levels are lying.
Resistance for the index lies in the zone of 26100 to 26200 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 26600 to 26700.
Broad range for the index in the coming week is seen from 24700 to 24800 on downside &
26600 to 26700 on upside.
NIFTY FMCG

Nifty PHARMA index closed the week on positive note gaining around 1.40%.
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. During the week the index manages to hit a high of 8910 and close the
week around the levels of 8639.
Minor support for the index lies in the zone of 8550 to 8580. Support for the index lies in the
zone of 8300 to 8350 from where the index broke out of 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.
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 positive note gaining around 2.10%.
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. During the week
the index manages to hit a high of 10810 and close the week around the levels of 10676.
Support 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 drift
to the levels of 10200 to 10300 from where the index broke out of Feb-2017 highs.
Resistance for the index lies in the zone of 10800 to 10900 from where the index broke
down after consolidation and short term moving averages are lying. If the index manages to
close below these levels then the index can move to the levels of 11000 to 11100 where
Fibonacci levels are lying.
Broad range for the index is seen from 10100 to 10200 on downside & 11000 to 11100 on
upside.
NIFTY AUTO

Nifty ENERGY index closed the week on positive note gaining around 2.40%.
As we have mentioned last week that 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. During the
week the index manages to hit a high of 13013 and close the week around the levels of
12960.
Minor support for the index lies in the zone of 12750 to 12800. Support for the index lies in
the zone of 12500 to 12600 from where the index broke out of 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 13000 to 13050. Resistance for the index
lies in the zone of 13200 to 13300 where the index has formed a short term top. 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 12500 to 12600 on downside & 13500 to 13600
on upside.
NIFTY ENERGY

Nifty METAL index closed the week on positive note gaining around 5.20%.
As we have mentioned last week, that 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 3060 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 3251 and close the week around the levels of 3385.
zone of 3200 to 3230 from where the index broke out of March-2017 highs. If the index
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 3450 to 3460 where the index has formed a
double top pattern. If the index manages to close above these levels then the index can move
to the levels of 3520 to 3550 where the index has formed a life time high.
Broad range for the index is seen between 3250 to 3280 on downside & 3500 to 3550 on
upside.
NIFTY METAL

Nifty PSU BANK index closed the week on positive note gaining around 0.40%.
As we have mentioned last week, that 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
where long term Fibonacci levels are lying. During the week the index manages to hit a low
of 3236 and close the week around the levels of 3306.
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 where Fibonacci levels and short & medium term moving averages
are lying.
upside.
NIFTY PSU BANK

Nifty REALTY index closed the week on positive note gaining around 6.40%.
As we have mentioned last week, that 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. During the week the index manages to hit a high of 277 and
close the week around the levels of 271.
zone of 258 to 260 from where medium term moving averages are lying. If the index
manages to close below these levels then the index can drift to the levels of 250 to 252 where
trend-line support for the index is lying.
after consolidation. If the index manages to close above these levels then the index can move
to the levels of 284 to 286 from where the index has sold off.
Broad range for the index is seen between 256 to 258 on downside & 280 to 282 on upside.
NIFTY REALTY

Nifty Media index closed the week on positive note gaining around 2.60%.
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. During the week the index manages to hit a high of 3013
and close the week around the levels of 2948.
Support 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 below these levels then the index
can drift to the levels of 2750 to 2800 where Fibonacci levels are lying.
Resistance for the index lies in the zone of 3030 to 3060 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 3100 where medium term moving averages are lying.
upside.
NIFTY MEDIA

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