DAILY TRADING HIGHLIGHTS & OUTLOOK

04 Oct, 11

S&P CNX NIFTY

OPEN HIGH 4874.40 4879.15

LOW CLOSE

4823.90 4849.50

Change(pts) Change (%)

-93.75 -1.90

Advanc/Decline Total Turnover (` in cr.)

2:5 89823

MARKET OUTLOOK The NIFTY opened the session with a negative gap on back of weak global cues. Thereafter the index traded in a narrow range of 4825-4875 for the rest of the session. The Nifty finally closed at 4849 with a loss of 93 points. With todays movement the index has registered a close below its support level of 4900 levels. Going forward if the index sustain below the 4825-4800 levels then it could decline towards its recent swing levels of 4760 /4720 levels. On the upside the index has resistances at the levels of 4900 / 4940 levels. A close below the recent swing low of 4720 levels would accentuate the declining momentum towards the level of 4675 /4600 levels.

Key Levels & Averages

INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

4849 9185

4800 9115

4760 9000

4900 9260

4940 9334

4941 9471

5039 9720

5491 10754

DAILY TRADING HIGHLIGHTS & OUTLOOK

04 Oct, 11

TRADING RECOMMENDATIONS

Kotak Mahindra Bank CMP` 446.80 Technical Outlook & Trading Strategy:The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown. This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of `420 / `410 levels. The momentum indicators have also turned into sell mode which displays weakness in the counter. Traders can look to sell at current levels with a stop loss placed above `460.60levels.

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