Stock Market Technical Outlook 06-May-2016

MARKET WRAP

INDIAN MARKET OVERVIEW

  • The Nifty opened up with positive note and ended up with 28.95 points or 0.4 percent at 7735.50. The direction of Market is looking uncertain due to global clues
  • The market has ended with gains, The Sensex closed up 160.48 points or 0.6 percent at 25262.21. About 1231 shares have advanced, 1318 shares declined, and 149 shares were unchanged.
  • Eicher Motors, total income rose 46.6 percent at Rs 3765 crore against Rs 2568 crore on annual basis. EBITDA in the quarter was up 75 percent at Rs 640 crore compared to Rs 366 crore while EBITDA margin stood at 17 percent versus 14.3 percent year-on-year
  • Eicher Motors has posted lower-than-expected profit and revenue in January-March quarter but margins were better. The Royal Enfield maker’s net profit rose by a whopping 71.3 percent at Rs 334.5 crore in January-March from Rs 195.3 crore in corresponding quarter last fiscal. Royal Enfield margins has hit record high of 29.8 percent.

GLOBAL MARKET OVERVIEW

  • Asian shares slipped for a seventh straight session on Thursday as a mixed batch of US economic data did nothing to assuage concerns about global growth and deflation, keeping sovereign bonds well supported.
  • The Dow Jones industrial average ended down 99.65 points, or 0.56 percent, to 17,651.26, the S&P 500 lost 12.25 points, or 0.59 percent, to 2,051.12 and the Nasdaq Composite finished 37.59 points, or 0.79 percent, lower at 4,725.64.
  • MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent, to be down 5 percent over the past two weeks

Technical Outlook

Nifty Technical Overview:

Nifty futures initially witnessed upward movement and made a high of 7817.In the later part Nifty witnessed bearish movement and made a low of 7733. It managed to close at 7772. On the upward side its major psychological level of 8000 and downward side major support level of 7650. On the upcoming session if market sustain below 7700 and break 7650 levels then downward movement is expected.

Bank Nifty Technical Overview:

Bank Nifty futures opened with positive note on the first half and made a high of 16495.On the second half prices could not sustained on upper levels and witnessed bearish movement, made a low of 16280 & managed to closed at 16384.On the upcoming session if it sustain below the level of 16300 then bearish movement is expected. On the upward side 16800 was major resistance level.

Technical Overview:

Stock recommendation for 06/05/2016 is Ajanta Pharma. The stock rebounded from its strong support of 1450 on daily chart, now facing a short term resistance of 1520. On yesterday it gains nearly 3 percent and closed near resistance level. If the stock sustains above 1520 level then it may go up to 1565-1600 levels in near future. Buy Ajanta Pharma above 1525 for the target of 1560-1590 with stop loss below 1480.

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Stock Market Technical Outlook 05-May-2016

MARKET WRAP

INDIAN MARKET OVERVIEW

  • The Nifty just about held onto 7700 and was down 40.45 points or 0.5 percent to end at 7706.55.
  • Tracking global peers, the market has ended the day in the red. The Sensex barely held onto 25100 marks, down 127.9 points or 0.5 percent at 25101.73.
  • Dewan Housing Finance is seen reporting net profit at Rs 200 crore in January-March quarter, up 23.5 percent at Rs 200 crore from Rs 162 crore in corresponding quarter last fiscal.
  • Leading stock exchanges the NSE and BSE today announced extended trading hours for Gold Exchange Traded Funds (ETFs) till 1900 hrs on May 9, on account of Akshaya Tritiya.

GLOBAL MARKET OVERVIEW

  • The Dow Jones industrial average closed down 140.25 points, or 0.78 percent, to 17,750.91, the S&P 500 lost 18.06 points, or 0.87 percent, to 2,063.37 and the Nasdaq Composite dropped 54.37 points, or 1.13 percent, to 4,763.22. .
  • US stocks fell on Tuesday after weak economic data in China and Europe reignited worries about global growth, while oil prices dropped for a second day, dragging down energy shares.
  • The S&P 500 posted 13 new 52-week highs and 3 new lows; the Nasdaq recorded 30 new highs and 47 new lows.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with negative note on the initial part of the day and then made a high of 7789.In the later part it could not sustained on higher levels and witnessed bearish movement, managed to close at 7733.On the upward side its major resistance level of 7950 and downward side major support level of 7650. On the upcoming session if market sustain below 7700 and break 7650 levels then downward movement is expected.

Bank Nifty Technical Overview:

Bank Nifty futures opened with negative note but in the first half made a high of 16550.On the second half prices could not sustained on upper levels and witnessed bearish movement, made a low of 16333 & managed to closed at 16360.On the upcoming session if it sustain below the level of 16300 then bearish movement is expected. On the upward side 16800 was major resistance level.

Technical Overview:

Stock recommendation for 05/05/2016 is V Guard. The stock rebounded after the announcement of quarter 4 results. It is trading near its psychological level of 1000. The stock formed a rounding bottom pattern on daily time frame and yesterdays strong closing confirmed the break out. Buy V Guard above 1000 for the target of 1030-1050 with stop loss below 970.

Stock Market Technical Outlook 04-May-2016

MARKET WRAP

INDIAN MARKET OVERVIEW

  • After a choppy trading session, the market has ended lower. The Nifty has ended below 7850, down 58.90 points or 0.7%.
  • The BSE Sensex was down 207.27 points or 0.8% closed at 25229.70. Market breath was weak as about 1165 shares advance while 1476 shares declined.
  • DLF is looking to raise about USD 2 billion through a stake sale in the firm that has about 27 million square feet of developed real estate, along with potential for another 20 million square feet development.
  • On May 03, 2016, Birla Corporation closed at Rs 388.00, down Rs 5.4, or 1.37 percent. The 52-week high of the share was Rs 543.50 and the 52-week low was Rs 322.00.

GLOBAL MARKET OVERVIEW

  • European stocks trade lower on Tuesday dragged down by mining and auto stocks as earnings from major banks including UBS and Commerzbank disappointed investors.
  • The China Caixin manufacturing PMI for April fell to 49.4 from March’s 49.7, shrinking for a 14th straight month and coming in below a Reuters forecast for 49.9. Levels below 50 indicate contraction.
  • The benchmark ASX 200 erased early losses to trade up 0.22 percent, reversing course after the heavily weighted financial sector turned higher. South Korea’s Kospi index added 0.33 percent

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with positive note on the initial part of the day and made a high of 7949. In the later part it could not sustained on higher levels and witnessed bearish movement, managed to close at 7781. On the upward side its major resistance level of 8000 and downward side major support level of 7650. On the upcoming session if market sustain below 7770 and break 7750 levels then downward movement is expected.

Bank Nifty Technical Overview:

Bank Nifty futures opened with positive note on the first half and made a high of 16820.On the second half prices could not sustained on upper levels and witnessed bearish movement, made a low of 16428 & managed to closed at 16481. On the upcoming session if it sustain below the level of 16400 then bearish movement is expected. On the upward side 16900 was major resistance level.

Todays Stock Recommendation

Stock recommendation for 04/05/2016 is Sobha Developers. The stock is in consolidation on daily chart. It is trading under the primary candle made on 18 April and has created strong support of 288. The stock is unlikely to break this support and hence buying is recommended. Buy Sobha Developers above 297 for the target of 308-312 with stop loss below 288.

For Daily & Weekly Stock Market Technical Overview & Recommendation visit our site www.capitalheight.com or call @0731-6615050,+91 8962429710,9993066624,8066026700

Stock Market Technical Overview & Recommendation for 26-Apr-2016

MARKET WRAP

Indian Market Overview-

  • The market fell for third consecutive session on Monday with the Nifty breaking 7850 level intraday, reacting to weak global cues and stormy Parliament session. Nifty future down by 46 point at 7865.
  • The BSE Sensex was down 159 points and closed at 25678. Market breath was weak as about 1040 shares advance while 1579 shares declined.
  • Country’s largest car manufacturer Maruti Suzuki is likely to disappoint the street on April 26 by reporting contraction in profit and margin for January-March quarter. Profit is seen falling 3.4 percent year-on-year to Rs 1,240 crore in Q4, which may get impacted by lower margin.
  • UltraTech Cement ‘s fourth quarter earnings beat analysts’ expectations on all counts Monday with standalone profit rising 10.9 percent year-on-year to Rs 681.4 crore, helped by lower tax & finance cost and better operational performance.

Global Market Overview-

  • Asian markets wavered between positive and negative territory on Monday, after major local indexes eked out gains last week.
  • The Japanese benchmark Nikkei 225 was down 0.19 percent after flirting with positive territory briefly. Last week, the index added 4.3 percent. Across the Korean Strait, the Kospi was down 0.11 percent.
  • In the currency market, the yen weakened sharply against the dollar, trading at the 111 handle, compared with the 107 handle briefly touched early last week. In the previous session, the yen finished at 111.78 to the dollar
  • The The Dow Jones industrial average edged up 0.12 percent to end at 18,003.75 points, while the S&P 500 finished flat at 2,091.58 on Friday.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with almost flat note and witnessed bearish movement for the entire day. In todays session the level of 7900 acted as major resistance and 7825 as major support level. It completed the formation of H&S Pattern and given break out it also broke 200 days EMA. If it sustain below the level of 7900 then further downside movement is expected.

Bank Nifty Technical Overview:

Bank Nifty futures opened with almost flat note and slight up from major resistance level of 16770 but witnessed bearish movement for the entire day. In todays session it sustained below the major resistance level of 16770 and 16600 acted as major support level. In coming session if bank nifty sustains below the level of 16750 then bearish movement is expected.

Stock Market Recommendation:

Stock recommendation for 26/4/2016 is Glenmark Pharma. The stock has formed an Inverted Head and Shoulder pattern on Daily chart. It has given break out above the trend line. 845 is the important resistance for Glenmark Pharma. Buy only above 845 for the target of 880-900 with the stop loss below 810.

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Equity Market Technical Overview & Recommendation for 25-Apr-2016

MARKET WRAP

Indian Market Overview

  • It was a day of consolidation on Dalal Street with the benchmark indices closing flat for a third consecutive day. Nifty future down by 0 point at 7911.
  • The BSE Sensex was down 42 points and closed at 25838. Market breath was weak as about 1251 shares advance while 1312 shares declined.
  • HDFC Bank has reported good January-March quarter results with net interest income (NII) growth surprise on higher side. The private lender’s net profit rose 20.2 percent at Rs 3374.2 crore in fourth quarter of FY16 compared to Rs 2806.9 crore in corresponding quarter last fiscal.
  • Shares of Tata Steel jumped over 2 percent intraday on Friday, extending its rally. Investors are jubilant that the UK government is willing to acquire 25 percent stake in Tata Steel’s UK operations to help potential buyers eyeing ownership of the Indian steel giant’s loss-making plants.

Global Market Overview-

  • Asian markets opened lower on the final trading day of the week, following losses in US stocks overnight as telecoms led declines amid the latest batch of earnings.
  • The Australian ASX 200 was down 0.64 percent, led by steep declines in the energy, materials and financials subindexes. In Japan, the Nikkei 225 halted its three-day advances to trade down 0.28 percent. Across the Korean Strait, the Kospi was down 0.38 percent.
  • Wall Street suffered its first loss in four sessions on Thursday after a mixed bag of quarterly reports and a warning by Verizon Communications that a strike by workers would likely impact its bottom line.
  • The Dow Jones industrial average declined 0.63 percent to end at 17,982.52 points and the S&P 500 lost 0.52 percent to 2,091.48. The Nasdaq Composite edged down 0.05 percent to 4,945.89.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with negative note and witnessed consolidated movement for the entire day. It traded between the ranges of 7880-7940. In todays session nifty sustains below 7950 and created Head & Shoulder formation in 15 min charts. On Monday if it sustain below 7950 and break 7880 in downside the bearish movement is expected.

Bank Nifty Technical Overview:

Bank Nifty futures opened with negative note and witnessed consolidated movement for the entire day. It traded between the ranges of 16750-16550. Bank Nifty future did not break the major resistance level of 16770 but traded with bullish sentiments. On Monday if it sustain above the level of 16600 and break 16800 then upside movement is expected.

Stock Market Recommendation:

Stock recommendation for 25/4/2016 is Just Dial. The stock now sustains above 21 day EMA on weekly chart after about a year. On daily chart as well stock is trading above 200 day EMA. It has shown good strength in the last hours of trading on Friday. Buy Just Dial between 875 and 885 for the target of 905-930 with the stop loss below 850.

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Equity Market Technical Overview & Recommendation for 22-Apr-2016

MARKET WRAP

Indian Market Overview

  • Dalal Street has snapped its six day gaining streak as it lost steam mid way. The Nifty ended in red after hitting 2016 high in early trade. Nifty future down by 16 point at 7913.
  • The BSE Sensexwas up 36 points and closed at 25880. Market breath was weak as about 1050 shares advance while 1524 shares declined.
  • IndusInd Bank ‘s net profit rose 25 percent to Rs 620 crore in the January-March quarter from Rs 495.3 crore in year-ago period. During the period, its net interest income (NII) increased 37 percent to Rs 1268.2 crore from Rs 925.1 crore on annual basis.
  • Shares of ICICI Bank jumped 8 percent intraday on Thursday, buoyed by a Credit Suisse upgrade and a media report quoting unnamed sourcesthat theReserve Bank of India has trimmedthe list of firms whose loans need to be provisioned for

Global Market Overview-

  • Asian markets advanced in early trade on Thursday, following overnight gains in US equities.
  • Australia’s ASX 200 was up 1.08 percent, led by a gain of 3.48 percent in the energy sub index. Japan’s Nikkei 225 added 1.99 percent, extending gains from the previous two sessions on the back of a relatively weaker yen. Across the Korean Strait, the Kospi climbed 0.52 percent.
  • Wall Street ended less than 2 percent short of a record-high close on Wednesday as a rebound in oil prices added to optimism sparked by a raft of earnings reports.
  • Dow Jones industrial average rose 0.24 percent to end at 18,096.27 points and the S&P 500 gained 0.08 percent to 2,102.4. The S&P earlier traded as high as 2,111 points.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with positive note and witnessed bearish movement for the entire day. Nifty future opened above the level of 7960 but could not sustain above it and traded down side and broke the level 7900. Range of 8000-7950 is very strong resistance for nifty future and in this range trader can use sell on high level strategy.

Bank Nifty Technical Overview:

Bank Nifty futures opened with positive note and slight positive movement in early part and consolidated most part of the day and it showed downside movement in later part of the day but closed on positive note with formation of inverted hammer candle at resistance level. If tomorrow it breaks 16560 levels then downside movement is expected.

Stock Market Recommendation:

Stock recommendation for 22/4/2016 is Ipca Laboratories. The stock is showing divergence with RSI on daily chart and hence short term recovery is possible from lower levels. On Intraday time frame 21 day EMA supporting the prices. Buy this stock above 500 for the target of 515-525 with stop loss below 470.

For Daily & Weekly Stock Market Technical Overview & Recommendation visit our sitewww.capitalheight.com or call @0731-6615050,+91 8962429710,9993066624,8066026700

Stock Market Technical Overview & Recommendation for 21-Apr-2016

MARKET WRAP

Indian Market Overview-

  • After a consolidation, the NSE Nifty ended higher for the sixth consecutive session on Wednesday, supported by banking & financials and metals stocks. Nifty future up by 9 point at 7929.
  • The BSE Sensex rose 27 points and closed at 25844. Market breath was strong as about 1471 shares advance while 1151 shares declined.
  • Sunil Mittals Bharti Airtel is looking to monetise another tranche of its holding in the companys tower armBharti Infratel. The telecom company will usefunds for the upcoming spectrum auctions and to pare debt. The stake sale could be done via block deals in Infratel.
  • Shares of TCS slipped3 percent intraday on Wednesday after it announced its March quarter results. What disappointed the street was its margin decline of 50 basis points even as revenue met estimates breaking six quarters jinx.

Global Market Overview

  • Asian Asia markets advanced on Wednesday morning, supported by broad dollar weakness and higher oil prices overnight, with Japanese stocks extending gains from the previous session on the back of a relatively weaker yen.
  • The benchmark Nikkei 225 was up 0.77 percent in early trade. Across the Korean Strait, the Kospi was higher by 0.44 percent, while Australia’s ASX 200 added 0.54 percent
  • A recent rebound in oil and signs that the US economy is slowly improving have helped stocks rally from a steep selloff earlier this year that had pushed the S&P 500 down as much as 10.5 percent.
  • Dow Jones industrial average rose 0.27 percent to 18053 points and the S&P 500 gained 0.31 percent to 2100 The Nasdaq Composite dropped 0.4 percent to 4,940.33.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with positive note and witnessed slight bearish movement in early part of the day and showed recovery in later part. Nifty future traded between 7950-7900 as it took support from the level of 7900 and faced resistance form 7950. Tomorrow if it sustain above the level of 7900 and break 7950 then it can test the level of 8000

Bank Nifty Technical Overview:

Bank Nifty futures opened with positive note and witnessed slight bearish movement in early part of the day and showed recovery in later part. After taking support from the level of 16200 it showed recovery from lower level and tested the level of 16400. Tomorrow if it manages to sustain above the level of 16300 then it can show upside movement.

Stock Market Recommendation:

Stock recommendation for 21/4/2016 is Motherson Sumi Systerms. The stock has formed an inverted Head and Shoulder pattern on daily chart. A break out is expected above previous high. It has gains nearly Rs.30 in the last five trading sessions and rally continues if it sustains above 272. Buy this stock above 272 for the target of 284-290 with the stop loss below 250.

For Daily & Weekly Stock Market Technical Overview & Recommendation visit our site www.capitalheight.com or call @0731-6615050,+91 8962429710,9993066624,8066026700

Stock Market Technical Overview & Recommendation for 20-Apr-2016

MARKET WRAP

Indian Market Overview-

  • Equity benchmark traded upside on Monday despite weakness in global peers due to slump in oil prices.Nifty future up by 52 point at 7920.
  • The BSE Sensex rose 189 points and closed at 25816. Market breath was strong as about 1481 shares advance while 1180 shares declined.
  • TCS recouped losses in afternoon trade to close flat ahead of its fourth quarter earnings later in the day. The stock fell 3 percent intraday after the company has been slapped a fine in a trade secret lawsuit by US grand Jury.
  • ITC gained 1.3 percent as the company will resume manufacture of cigarettes in factories after High Court passed order in favour of company.

Global Market Overview –

  • Asian sahres fell on Monday as markets took a dim view of failure by major oil producers to freeze output, ensuring a global glut of the commodity for the time being.
  • The Shanghai Composite was down 1.31%. Hong Kong’s Hang Seng index was down 1.21%. The Nikkei 225 fell 2.92%, while the S&P/ASX 200 fell 0.27%.
  • China said the economy gained 1.1% quarter-on-quarter for the first quarter from the fourth quarter on a on a seasonally adjusted basis, the National Bureau of Statistics reported in data released at the weekend
  • At the close in NYSE, the Dow Jones Industrial Average declined 0.16%, while the S&P 500 index declined 0.10%, and the NASDAQ Composite index lost 0.16%.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with strong positive note and witnessed bullish movement for the entire day and closed on higher note. Market opened above 7900 and took support from 7850 in morning session and sustained above it. Nifty future has major support level of 7850;if it sustains above this and break 7950 level then it is expected to show upside movement on Wednesday.

Bank Nifty Technical Overview:

Bank Nifty futures opened almost flat not and fell sharply in morning session only. It took support from the level of 16000 and sustained above 16100 most part of the day. 16100 is major support and 16300 is the major resistance level for coming sessions. if it sustain above 16100 and break 16300 then upside movement is expected on Wednesday

Stock Market Recommendation:

Stock recommendation for 20/4/2016 is Amara Raja Batteries Limited. The stock broke the resistance of 925 and gave strong closing at 939 on Monday. It is now trading at its seven months high. It has good trend line support and 21 day EMA crossed over 200 day EMA. Buy this stock between 930 and 945 for the target of 975 and 1020. Stop loss would be below 895.

For Daily & WeeklyStock Market Technical Overview & Recommendation visit our site www.capitalheight.com or call @0731-6615050,+91 8962429710,9993066624,8066026700

Daily Stock Market Report for 18-Apr-2016

MARKET WRAP

Indian Market Overview-

  • The market surged nearly 2 percent on Wednesday following global rally, strong monsoon forecast, better than expected economic data and ahead of Infosys Q4 earning. Nifty future up by 135 point at 7867.
  • The BSE Sensexrose 481points and closed at 25626. Market breath was strong as about 1601 shares advance while 1092shares declined.
  • State-run power equipment maker BHEL rose nearly 5 percent. CLSA has maintained outperform rating on the stock as it believes the state-run power equipment maker will be biggest beneficiary of a likely pickup in Indias power capex cycle.
  • Engineering & construction major Larsen and Toubro was up 1 percent after its IT software subsidiary L&T Infotech filed fresh IPO papers with capital market regulator SEBI.

Global Market Overview

  • Asian stocks were subdued on Friday as caution over a weekend meeting of oil producers tempered risk sentiment, while the region’s markets took China’s relatively upbeat GDP data in stride.
  • Japan’s Nikkei was down 0.3 percent, while Australian shared edged up 0.4 percent. Shanghai lost 0.4 percent, while South Korea’s Kospi inched down 0.1 percent. Other modest gainers included Malaysian and Indonesian stocks.
  • Wall Street was little changed on Thursday after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back.
  • The The Dow Jones industrial average rose 18.15 points to 1726, the S&P 500 gained 0.36 points to 2082 and the Nasdaq Composite dipped 1.53 points to 4945.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with strong positive note and witnessed bullish movement for the entire day and closed on higher note. Market opened around 7800 but could not test the level of 7900 and closed above 7850. Nifty future has major support level of 7820 for the coming session if it sustain above this level then it is expected to show upside movement on Monday.

Bank Nifty Technical Overview:

Bank Nifty futures opened gap up and witnessed bullish movement for the entire day and closed positively. Market opened around 16100and broke major resistance level of 16400 and closed at 16304.Bank Nifty future is at major resistance level but if it sustain above 16150 and break 16420 then upside movement is expected in coming session.

Technical Overview:

Stock recommendation for 18/4/2016 is SRF (Shri Ram Fibres Limited). The stock has given strong break out above last months closing i.e 1334. It declined to its 21 day EMA in the first week of April and pull backed from its support, now registered a strong weekly closing at 1374. The stock is now heading towards its life time high of 1498.85 made in August 2015. Buy SRF for the target of 1430-1500 with the stop loss below 1240.

For Daily Equity Market Report visit our sitewww.capitalheight.comor call@ 0731-6615050,+91 8962429710,9993066624,8066026700

Daily Stock Market Report for 13-Apr-2016

MARKET WRAP

Indian Market Overview-

  • Positive momentum in the market continued for second consecutive session on Tuesday with the Nifty ending above 7700 level for the first time since April. Nifty future up by 30 point at 7732.
  • The BSE Sensex rose 123 points and closed at 25145. Market breath was strong as about 1528 shares advance while 1096 shares declined.
  • The Consumer Price Index (CPI) for March is expected to ease month-on-month to 5.05 percent from 5.18 percent, while theIndex of Industrial production (IIP) for February is seen improving to 1.5 percent from negative 1.5 percent,
  • Coal India shed 2 percent after a media report indicated that the company has cut prices of top grades of coal by up to 40 percent on the back of more than adequate coal production as well as about 58 million tonnes of stock pile.

Global Market Overview

  • Asian shares were mixed on Tuesday with Shanghai down, but Tokyo up as the yen trended weaker.
  • The Shanghai Composite edged down 0.46% at the break, on track for a drop after its biggest increase since the end of last month on Monday. Hong Kong’s Hang Seng index was last up 0.26%.
  • Wall Street closed slightly lower on Monday, with gains in materials and banks countered by declines in consumer staples shares, as investors girded for the start of an earnings season expected to be gloomy.
  • The Dow Jones industrial average fell 20.55 points to 17556, the S&P 500 lost 5.61 points to 2041 and the Nasdaq Composite dropped 17.29 points to 4,833.

Technical Outlook

Nifty Technical Overview:

Nifty futures opened with flat note and witnessed consolidated movement for the entire day with bullish sentiments. Market sustained above the psychological level of 7700 most part of the day and closed above it. Tomorrow if it sustained above the level of 7700 and break the level of 7740 then upside movement is expected for the day.

Bank Nifty Technical Overview:

Bank Nifty futures opened with flat note and witnessed consolidated movement for the entire day with bullish sentiments. Market sustained above the level of 15800 for the entire day and closed above it. Tomorrow if it sustained above the level of 15900 and break the level of 16000 then upside movement is expected for the day.

Stock Market Recommendation-

Stock recommendation for 13/4/2016 is Century Ply. We have seen a break out of important resistance level near 175 on yesterday and ended with a strong close above 180. A sharp bullish rally is expected in the next 2-3 trading sessions and the stock may leads to 195-205 levels. It holds a good support near 165. We recommend a buy above 183 or buy on dips near 178 with stop loss below 165.

For Daily Equity Market Report visit our sitewww.capitalheight.comor call@ 0731-6615050,+91 8962429710,9993066624,8066026700

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