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Technicals12062008rch

Technicals12062008rch

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Published by api-3862995
Religare Technical Outlook
Religare Technical Outlook

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Published by: api-3862995 on Oct 19, 2008
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03/18/2014

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Daily Technical Report
F O R
P R I V A T E
C I R C U L A T I O N
O N L Y
12 June 2008
NIFTY
4523.60
Intra Day
Vola tility
132 p t s
S1
4480.75
S2
443 7.90
R1
4583.90
R2
4613.00
SENSEX
15185.32
Intra Day
Volatility
363 pts
S1
15054.60
S2
14923.88
R1
15270.93
R2
15377.93
TREND
Direction
Short Term
DN
Medium Term
DN
Long Term
UP
AVERAGES
Daily
13 sma
4706.06
34 sma
4940.55
89 sma
4953.04
S&P Nifty (4523.60 points)
(+73.80 p t s)

Yesterday, the Bulls must have heaved a sigh of relief. The Nifty opened higher and then languished around 4500 points. Fresh Bear raid in the afternoon tested the lows but got absorbed. Short covering in BHEL, Banking and realty stocks helped the markets to close at the day\u2019s high. Reliance stood rock steady behind the Bulls. Action was seen in some Midcap stocks which is reflected in the A/D ratio (2:1) but the volumes remained almost the same.

As mentioned, since the odds are even, the small players are not carrying forward their positions; hence short covering is emerging at lower levels. Volumes are still lower, buying support is required to threaten the Bears. As long as the Nifty trades below the resistance line of the orange channel (4670), the Bears need not worry. Short term trend is down until 4756 points is not decisively crossed while 4390 points is the pivot.

Yesterday, the Nifty crossed the required high of 4498 points. Today it has to hit a high above 4573 points (with a hurdle at 4554) for the pullback to sustain. Intraday, 4511 points is the pivot while crucial support is at 4480 and 4437 points. Again the Bears will try to tighten their grip.

A tussle is on; protect your positions
appropriately.
NIFTY Intra Week
Vola tility
224 p t s
S2
4395.00
S3
4271.00
R1
4968.00
R2
5074.00
Triveni Engg
Buy in Dips
CMP: 92.15
T g t : 9 9 -1 0 2
The daily candlestick chart of Triveni Engg shows a vertical decline from Rs.131.50 to
Rs.83.90. Short term trend is down with strong support around Rs.82. High risk

traders can buy in small quantities preferably in declines around Rs.88-90 with a strict stop loss below Rs.84 in close for a pullback to Rs.99-102 in the next 7-8 trading sessions which if sustained on volumes can test Rs.108 in the short term.

* It\u2019s an anticipatory call Avoid gap openings and trade in cash.
Intra Day Range for 12/06/2008
Scrip
Close
R1
R2
S /R
S2
S1
A.C.C.
635.45
645.70
655.90
630.80
605.70
620.60
ABB LTD.
966.50
986.30
1006.15
965.15
924.15
945.30
BHARTI TELE
806.90
827.60
848.30
801.30
754.30
780.60
BHEL
1481.45
1527.00
1572.50
1463.50
1354.50
1418.00
BOM DYEING
723.05
750.60
778.10
710.30
642.50
682.80
CENTURY TEXT
612.05
627.70
643.30
605.40
567.50
589.80
HIND.LEVER
232.55
235.85
239.10
232.70
226.30
229.45
ICICI BANK
741.65
753.40
765.10
743.30
721.50
731.60
INFOSYS TECH
1894.50
1914.00
1933.50
1883.50
1833.50
1864.00
ITC LTD.
199.35
203.20
207.00
199.10
191.20
195.30
LARSEN & TOU
2652.95
2698.00
2743.00
2639.00
2535.00
2594.00
MAHA.TELE
95.10
95.75
96.35
95.00
93.65
94.40
MARUTIUDYOG
733.60
756.70
779.75
739.35
698.95
716.30
ONGC CORPN
830.55
849.00
867.50
836.50
805.50
818.00
PUNJ LLOYD
254.35
260.75
267.15
252.20
237.25
245.80
RANBAXY LAB.
560.80
586.20
611.65
567.25
522.85
541.80
RCOM
543.05
554.20
565.40
547.60
529.80
536.40
REL.CAP
1126.65
1157.40
1188.20
1134.20
1080.20
1103.40
RELIANCE
2260.00
2285.80
2311.65
2242.90
2174.15
2217.05
SATYAM COM
482.70
489.75
496.75
481.00
465.25
474.00
SIEMENS LTD.
480.40
493.90
507.45
484.45
461.45
470.90
STATE BANK
1309.50
1328.60
1347.70
1305.80
1263.90
1286.70
STERLITE IND
798.50
824.90
851.35
803.45
755.55
777.00
SUZLONENERGY
270.05
277.80
285.50
271.90
258.30
264.20
TATA MOTORS
505.60
523.50
541.40
511.75
482.10
493.85
TATA STEEL
837.20
848.00
858.75
836.85
814.95
826.10
TCS LTD.
892.85
908.50
924.20
894.25
864.30
878.55
TITAN IND.
1066.35
1120.25
1174.15
1077.20
980.25
1023.30
TATA COMM.
454.45
460.80
467.15
454.65
442.15
448.30
WIPRO LTD.
473.10
480.00
486.95
475.05
463.15
468.10
S/R indicates the immediate support/resistance depending on the
closing price.

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