Yagnesh Patel: September 2015

Saturday, 12 September 2015

Technical Outlook: Indices

Nifty:

Last week nifty up by 1.75% and closed at 7789.30, India VIX was down by 5.48% during entire week. Nifty PCR stood at 0.98
Nifty formed a fresh 52 week low in this week. Nifty is trading below its 21 days SMA but trading above its 5 days SMA suggesting consolidation at lower levels. Nifty facing resistance at PF median line & unable to close above that line.
Nifty facing resistance of 7860 / 7950 / 8000 (Spot) & supports comes at 7700 / 7650 / 7550 (Spot).
As per time analysis 15th Sept is trend change day hence big movement is expected 15th Sept (+-1 day). Last week we suggest 9th Sept and nifty rise by 130 pts on same day.

Bank Nifty:

Last week bank nifty rise by 3.0% and closed at 16612.60, India VIX down by 5.48% during entire week. Ban nifty PCR stood at 0.82
Bank Nifty took support at Fibb fan as suggested in last week report and bounced back sharply in this week. Bank Nifty is trading below its 21 days SMA but trading above its 5 days SMA suggesting consolidation is going on at lower levels. As per Fibb. Fan we can see bank nifty resist from last three trading session. Now its important to see weather it will break this resistance and moving forward.
Bank Nifty facing resistance of 16800/ 17200 (Spot) & supports comes at 16200 / 15800 (Spot).
As per time analysis 15th Sept is trend change day hence big movement is expected 15th Sept (+-1 day). Last week we suggest 9th Sept and bank nifty rise by 280 pts on same day.

Monday, 7 September 2015

Yagnesh Patel