MARKET RECAP                                                       KEY MARKET DATA POINTS The selloff continues on the D-Street for the fifth consecutive session where the benchmark indices started the session on a flat note but closed near day’s low. Once again, index Nifty attempted to clear 10900 mark during the first half but sharp selloff in the final hour of session forced it to close with considerable loss near day’s low. On the other hand, Nifty Bank index corrected from day’s high to close below the 27000 mark. Although the market breadth started on a positive note but as the day progressed decliners outshined the advances. On the sectoral front, NIFTY IT (+0.65%) and NIFTY REALTY (+0.38%) stocks were the biggest gainers whereas NIFTY PSU BANK (-2.10%), NIFTY AUTO (-1.21%) and NIFTY MEDIA (-1.03%) counters ended in loss. From the F&O space, ADANIPOWER (+8.81%), INDIANB (+6.45%) and BATAINDIA (+5.63%) were the top performers. MARKET OUTLOOK Post yesterday’s correction, Nifty was forced to sneak below 10800 mark on closing basis. Now, as displayed on the daily chart, index is hovering just above the placements of 50 DEMA & 100 DEMA. At the same time, the support coincides with 61.8% Fibonacci retracement levels of previous rally. Thus, 10780 – 10750 could act as a strong support in the upcoming session. A breach of the same would extend the selling towards 10690. On the upside, bullish sentiment would resume only above 10900 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level. From the stock front, one should continue to stay hedge and avoid overleveraged positions since the heavy weights are yet to correct. MARUTI – Daily Chart STOCK OUTLOOK Last month, Maruti confirmed a breakdown below 7200 mark and sneaked below 6500 zone as shown above. Then the stock recovered sharply and is now back to those levels. The stock is unable to cross the upside resistance formed by placement of previous trend line and 78.6% Fibonacci retracement level of the previous move. This provides excellent risk reward to go short. Thus, we advise traders to sell the stock in range of 7050 - 7150 with a stop of 7330 for the target of 6770 – 6520. Disclaimer)

NIFTY Market Recap and Outlook The week went by was fully dominated by the bears on the D – Street amid the sharp selloff in broader markets. The index Nifty spot ended in red during all the five trading sessions of the week. During the process, Nifty spot nose dive from the peak of 10950 and almost met 10600 mark. Eventually, the index lost more than 2% from its previous close (Week on Week). Meanwhile, the Nifty Bank index ended with a loss of around 1.83% and that too below 27000 mark. In our previous edition, we discussed about the reversal pattern known as “Evening Star” near the hurdle of 11100. The impact of the pattern was clearly evident during the week. Now at this juncture, Nifty has found support at the rising trend shown above. Also, below the trend line there is a previous swing low of 10580 which might act as a strong support for the coming week. The support around the trend line coincides with 78.6% Fibonacci retracement levels of previous rally. Thus going ahead we expect the mentioned supports to absorb the selling pressure. On the upside, a move above 10800 could bring the bulls back in action which can take Nifty back to 11000 mark. Traders can add aggressive long in index futures once Nifty starts trading above the mentioned resistance level.Disclaimer)