SBI drops after Q1 results; Sensex, Nifty continue to struggle

The SBIN Q1 result was announced during market hours today, 11 August 2015.
State Bank of India fell 2.17% to Rs 276.95 at 12:48 IST on BSE after net profit rose 10.25% to Rs 3692.43 crore on 9.79% growth in total income to Rs 44730.87 crore in Q1 June 2015 over Q1 June 2014.

NIFTY OUTLOOK & NIFTY TIPS FOR 11 AUGUST 2015

Markets corrected in the last thirty minutes of the session owing to hurdles in the passing of the GST Bill along with some stock specific action as well. Sharp sell-off in the last 30 minutes of the trading following reports that the GST Bill is unlikely to be passed in the ongoing monsoon session of Parliament pulled the Sensex and Nifty down on Monday. As a result, the key benchmark indices pared their day’s gains and ended around 0.5 per cent lower than their previous close. The Sensex and NSE Nifty lost 134 points and 39 points at 28101 and 8525, respectively.
The Sensex opened the day at 28250 and touched a high and low of 28417 and 28017, respectively. The Nifty opened at 8577 and touched a high and low of 8621 and 8497, respectively.

NIFTY TECHNICAL REPORT DAILY & WEEKLY CHARTS FOR NEXT WEEK 10-08 -2015

DAILY RESISTANCE FOR NIFTY: 8617, 8640, 8684, 8728

PIVOT POINT: 8596

DAILY SUPPORT FOR NIFTY :  8573, 8552, 8508,8464

DAILY CHAT FOR NIFTY:  

WEEKLY RESISTANCE FOR NIFTY: 8673, 8752, 8943,9134

PIVOT POINT: 8561
WEEKLY SUPPORT FOR NIFTY :  8482, 8370, 8179,7988

WEEKLY CHAT FOR NIFTY:

TECHNICAL ANALYSIS FOR NIFTY

The Sensex was down 61  points at 28236 as PSU banks corrected while oil stocks surged. The Nifty slipped 24 points at 8564. About 1379 shares advanced, 1545 shares declined and 152 shares were unchanged. Nifty future opened on a shaky note but moved up firmly for the rest of the session and has closed above the 8600 region. It is a continuation formation on the charts since a higher low and higher high was posted in this session. Having closed above 8600 after a few failed attempts, this region will be crucial in determining the movement for the day. It is the immediate support and as long as this holds on dips, the going is to be strong with 8700 as the net target. Below 8600, support will be found in the 8590, 8565, 8530, 8500 region but the critical level is around 8475-8470 and a close below this level will signal weakness.

Price if sustains above 8590 - may rally till 8680. 

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 10 AUGUST 2015

Domestic equity markets opened on a flat note on Friday. The markets today showed sideways movements taking cues from global markets. Also the weakness some of the heavy weight counters kept the markets under pressure. Market participants were taken a cautious approach ahead of US job data that could act as a strong cue to when the Fed will raise interest rates. Markets continue to trade in consolidation mood; shutting the last day of the week lower. Disappointing earnings by State-run BHEL and profit booking in select banks, financials and pharma stocks dragged the indices lower. Investors prefer to book profit ahead of key US marco economic data which will be released tonight.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR FRIDAY 7 AUGUST 2015

The Sensex rose 75 points to 28298 on Thursday in a volatile trading session. The key benchmark index opened at 28291 and touched a high and low of 28359 and 28163, respectively. Similarly, Nifty index on the National Stock Exchange ended 19 points higher at 8587. Nifty opened at 8585 and touched a high and low of 8606 and 8551 on Thursday.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR THURSDAY 6 AUGUST 2015

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Range bound movement was there in the market today. The Sensex jumped 151 points to close at 28,23 and Nifty advanced 51 points to end at 8568 led by buying in technology, auto and pharma stocks.For most part of the day, the Sensex and Nifty traded on a firm note on the back of broad-based buying interest. But in the latter half of the day owing to mild profit-booking in banking stocks, the benchmark indices came off the intraday high levels. The Sensex touched high of 28315 and low of 28135. And the Nifty touched high of 8591 and low of 8545.

NIFTY OUTLOOK FOR WEDNESDAY 5 AUGUST 2015

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TECHNICAL ANALYSIS OF BHARTIARTL & DAILY CHART
The Sensex ended four-day winning streak and closed 115 points, lower at 28071, while the Nifty closed , or 26 points lower at 8516, after the Reserve Bank of India keeps rates unchanged in its monetary policy review.In the much awaited policy review by the Reserve Bank of India, the central bank kept  key rates unchanged, as widely expected by most of the experts. The repo rate stands steady at 7.25 per cent and accordingly, reverse repo rate is 6.25 per cent.

NIFTY OUTLOOK & FREE NIFTY TIPS FOR 4 AUGUST 2015

The market closed higher for the fourth consecutive session on Monday, aided by ICICI Bank, State Bank of India and ITC. The market may remain range bound in near term. They see strength in market only in the last quarter of current calendar year. As far as RBI policy is concerned, they do not see any rate cut from the apex bank on Tuesday. Major banks led the support to market today. State Bank of India, ICICI Bank, Bank of Baroda and Punjab National Bank rallied 3-4 percent. Bank Nifty gained 1 percent. Hopes of further rate cut by the Reserve Bank of India on August 4 coupled with narrowing deficit in rainfall to 4 per cent from 7 per cent earlier supported benchmark indices as the BSE Sensex and NSE Nifty extended their gains for the fourth consecutive trading session on Monday. Nifty gained 0.26 per cent and 0.12 per cent to 28187 and 8543, respectively. Expectation of further rate cut in the upcoming monetary policy, narrowing of monsoon deficit and the government announcement on Friday to inject capital in weak public sector banks (PSBs) cheered investors on Monday.

The Nifty is poised to make another stride up or so it seems but for that to happen it needs to clear 8580-mark decisively. On the downside, it should not fall below 8520 and stay there so as to keep the required gumption to successfully take out the 8580-level. The levels of 8520 and 8580 together constitute the upper and lower boundaries of the most critical zone for the day. If it is successful in taking out the 8580 level firmly then it can move up to test 8600 initially and there after 8630 – 8665. On the downside, below 8520, support comes in at 8490 – 8475 and then 8455.

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RESISTANCE: 8560, 8600, 8640

SUPPORT:  8520, 8480, 8440