DAILY TRADING HIGHLIGHTS & OUTLOOK

11 Oct, 11

S&P CNX NIFTY

OPEN HIGH 4886.85 4991.15

LOW CLOSE

4882.05 4979.60

Change(pts) Change (%)

91.55 1.87

Advanc/Decline Total Turnover (` in cr.)

3:2 111930

MARKET OUTLOOK The Nifty opened on a positive note and maintained its strength throughout the day. The Nifty registered a high of 4991 and closed very near to that level at 4979, a total gain of 91 (1.87 %) points. As discussed in our previous update, the index continued its upward movement and has managed to achieve its first target level of 4980 levels. Going forward the index is likely to test its next immediate resistance levels of 5025 and only a sustained move above this levels could see index heading higher towards the levels of 5060 / 5110 /5170 in the near term. On the downside the index has immediate support at the 4920 levels followed by the 4890 /4860 levels. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

4979 9168

4920 9120

4890 9040

5025 9240

5060 9330

4897 9167

5000 9561

5469 10706

DAILY TRADING HIGHLIGHTS & OUTLOOK

11 Oct, 11

TRADING RECOMMENDATIONS

Punj Lloyd Ltd. CMP ` 55.50 Technical Outlook & Trading Strategy:The share price of Punj Lloyd has taken strong support & seems to be making a double bottom at ` 52.50 levels .It has shown a reversal bar at this level, suggesting that the bottom is in place. We expect the stock price to continue its upward movement and believe that it could test levels of ` 58- ` 59 shortly. We recommend a buy at current price with stop loss placed below `53.70. Alok Industries Ltd. CMP` 18.90 Technical Outlook & Trading Strategy:The share price of Alok Industries has seen a sharp fall from the highs of `25.6 on 1st Aug 2011 to the lows of `15.6 Levels. The stock has since then pulled back and tended to trade within the ` 15.6---` 20.3 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock. We recommend traders to buy in the range of `18.8 ` 19.1 levels with a stop loss placed below `17.9 levels for targets of `20.5 `22.5 levels.

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