EQUITY WEEKLY MARKET ANALYSIS OF 04/05/2015

NEWS INSIGHT

• US shares rally; dollar rises in May Day trading
• LIC loses 5% new premium market share to rivals
• Coal India registers 10.7% growth in production
• Sugar output rises 14.27% to 27.37 mn tonnes in Oct-Apr
• Hero MotoCorp sales decline 7% in April
• Petrol price hiked by Rs 3.96/ ltr; diesel Rs 2.37/ ltr
• Fund raising via NCDs down 77% in FY15
• Sebi to soon issue final norms for listing of startups

NIFTY ANALYSIS

• Positional Support for NIFTY 8020
• Positional Resistance of NIFTY is 8460
• Immediate resistance for NIFTY is 8340
• Intraday Support of NIFTY is 8140

• Oscillator Analysis: Nifty has achieved its target of Double top in full and now some correction in market should be expected. This is also a good opportunity for new investors’ to enter in market. Buy on dips strategy should be followed.

• Petroleum stock can be considered for positional buying.