Nifty closes above 10,450 Amidst Consolidation

MARKET PULSE

Status: Confirmed Uptrend

Current Outlook:

- Market environment conducive for new purchases, but remain selective.

- Focus on fundamentally strong stocks breaking out of strong technical patterns.

3-11-2017 1|Page

2017 William O'Neil India Private Limited. All Rights Reserved.

- Stay disciplined and exercise sound buy and sell rules

Highlights:

Three up days, Two down days

Weekly Market Review:

Market participants had a tough week, as bulls and bears entangled into an oscillated battle,
resulting in volatility over the week. Bulls ruled Mondays session, but profit booking on Tuesday and
Thursday trimmed the gains on the bourses.

The Nifty started the week at 10,353.85 and traded in the range of 10,323.95-10,461.70. The index
closed the week at 10,452.50, up 1.25% from last week's close. After opening at 33,260.10, the
Sensex gained 1.59% this week to settle at 33,685.56. The index traded in the range of 33,164.28-
33,733.71.

For the fifth consecutive week, broader market extended its gains with the Nifty Midcap and
Smallcap indices rising 2.26 % and 4.12%, respectively.

The MarketSmith IND 47 Index, which lists the top 47 stocks in chart and fundamental
characteristics, lost 0.40% this week.

From the sectoral point of view, Nifty Realty, PSU Bank, and Financial Services were the top gainers
for the week as they advanced 8.44%, 4.07%, and 3.46%, respectively. However, Nifty IT, Metal, and
FMCG dropped 0.21%, 0.17%, and 0.09%, respectively.

In other news, Nikkei India Services Purchase Manager's Index (PMI) data was reported today during
the market hours. The index rose to 51.7 in October, from September's 50.7. However, the data is
far below the historical average of 54.

On Wednesday, Nikkei Manufacturing PMI data came out at 50.3, for the month of October in
comparison with 51.2 in September. The fall is attributed mainly due to negative sentiments of
Goods and Service Tax (GST) roll out in the industry.

3-11-2017 2|Page

2017 William O'Neil India Private Limited. All Rights Reserved.

Along with PMI data, auto sales data was also announced on Wednesday. Top six passenger vehicle
manufacturers, who control more than 90% of the domestic car market, posted a growth of just 4%
in the month of October.

Next week, on Wednesday, the M3 money supply data is expected to be released. This could turn
out to be a market mover in the next week.

This week, the Nifty lost one distribution day; thus, taking the distribution day count to two on the
Nifty while the Sensex lost all its four distribution days this week taking the count to zero. The Indian
Market remains in confirmed uptrend.

www.williamoneilindia.com | www.marketsmithindia.com

A4, 1st Floor, NGEF Industrial Estate, Graphite India Road, Mahadevapura,
Bengaluru, Karnataka 560048

3-11-2017 3|Page

2017 William O'Neil India Private Limited. All Rights Reserved.