date: rd23 april 2018 · indecisiveness. on higher time frame like weekly index is trading in...

KIFS – Research Analyst 629.40 885.40 Matching global indices market opened gap down and no major movement was seen index was trading in very tight range of 50 points. IT index was the star performer where TCS results excited the sector. Sector specific AUTO and IT were outperforming whereas PSU Banks and Realty were underperforming the key benchmark index. Technically Again benchmark index traded with high volatility but ended with indecisiveness. On higher time frame like weekly Index is trading in uptrend by marking higher low with combination of higher high. Intermediate support placed near 10400 and resistance would be placed near 10740. Both PVT and PSU Banks were underperforming the key benchmark index. YES Banks and ICICI Bank were in the list of top losers which dragged the bank nifty towards days low. BOI was down 6%. Technically On weekly time frame in RRG (Relative rotation graph) oscillating in lagging quadrant where the relative strength as well as relative momentum is weak. And daily chart we observed channel breakdown which indicates further weakness in to Bank nifty. 24500 level which is 50% retracement of the recent pullback would act as an intermediate support. Intermediate resistance placed near 25450. 10613 25256 10588 25100 10558 24969 10533 24813 10503 24682 TATACOMM SUNTV 660 910 615 840 VIEW SIDEWAYS SIDEWAYS SIDEWAYS TCS TECHM INFY HCLTECH COALINDIA 3,414.00 696.10 1,179.65 1,057.00 291.35 6.98 4.65 4.13 3.77 2.88 YESBANK ICICIBANK TATASTEEL SBIN BAJFINANCE 309.00 282.50 607.05 241.85 1,881.00 -2.98 -2.45 -2.40 -1.75 -1.69 634 922 64 10564.05 24983.85 Date: 23 rd April 2018

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Page 1: Date: rd23 April 2018 · indecisiveness. On higher time frame like weekly Index is trading in uptrend by marking higher low with combination of higher high. Intermediate support placed

KIFS – Research Analyst

629.40

885.40

Matching global indices market opened gap down and no major movement was seen

index was trading in very tight range of 50 points. IT index was the star performer

where TCS results excited the sector. Sector specific AUTO and IT were outperforming

whereas PSU Banks and Realty were underperforming the key benchmark index. Technically Again benchmark index traded with high volatility but ended with

indecisiveness. On higher time frame like weekly Index i s trading in uptrend by

marking higher low with combination of higher high. Intermediate support placed near

10400 and resistance would be placed near 10740.

Both PVT and PSU Banks were underperforming the key benchmark index. YES Banks and

ICICI Bank were in the list of top losers which dragged the bank nifty towards days low.

BOI was down 6%. Technically On weekly time frame in RRG (Relative rotation graph)

osci llating in lagging quadrant where the relative strength as well as relative momentum

is weak. And daily chart we observed channel breakdown which indicates further

weakness in to Bank nifty. 24500 level which i s 50% retracement of the recent pullback

would act as an intermediate support. Intermediate resistance placed near 25450.

10613

25256