DAILY TRADING HIGHLIGHTS & OUTLOOK

24 Oct, 11

S&P CNX NIFTY

OPEN HIGH 5106.60 5120.75

LOW CLOSE

5037.95 5049.95

Change(pts) Change (%)

-41.95 -0.82

Advanc/Decline Total Turnover (` in cr.)

2:3 158475

MARKET OUTLOOK The Nifty opened on a positive note and registered an intraday high of 5120 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraday low of 5037. The index finally closed at 5049 levels with a loss of 41 points. The index continued to trade in a narrow range of 5000-5170. As long as index remains in this range, we are likely to witness a volatile and choppy trading sessions. On the upside the index has immediate resistance at 5170 (recent swing top) above which it is likely to test the level of 5230 (Negative Gap resistance (level). On the downside a close below the 5000 level could see the declining momentum accentuate to the levels of 4960 /4910 /4880 levels. Sustenance above the 5230 level could see the index filling up its negative gap and the index could head towards the level of 5270 / 5330 in a short span of time.

Key Levels & Averages

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

5049 9695

5000 9520

4960 9380

5100 9920

5170 10030

5058 9628

5030 9590

5533 10618

DAILY TRADING HIGHLIGHTS & OUTLOOK

24 Oct, 11

TRADING RECOMMENDATIONS

Alok Industries Ltd. CMP ` 19.50 Technical Outlook & Trading Strategy:On the daily chart the share price of Alok Ind. has registered a breakout from ascending triangle pattern. Traders should note that ascending triangle patterns signifies accumulation and suggest price advance once the breakout is recorded. The momentum indicators on the daily chart are also in a bullish zone suggesting more upside in the stock. The stock is also sustaining above its cluster of moving averages adding weight to the Bullish argument. We recommend traders to buy in the range of `19.4` 19.6 levels with a stop loss placed below `18.8 levels for targets of `21 `22levels, expected to be achieved over the coming few Weeks.

Hero MotoCorp Ltd. CMP - ` 2052.30 Technical Outlook & Trading Strategy:The stock price of Hero Motocorp has given a breakout to its consolidation of past few days. The stock is also taking support at cluster of averages. We would like to point out that on the weekly chart the price of Hero motocorp has given pulled back from its inverted head & shoulder neckline. On the daily chart the stock is also sustaining above its cluster of moving averages. The momentum indicators on weekly chart are in the buying mode. We recommend traders to buy 50% now and again in the range of `20202030 levels with a stop loss placed below `1988.8 levels for targets of `2120/2200 levels.

Disclaimer

The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Matrix Solutions and his associates. The information contained herein is based on their analysis of the Charts and up on sources that are considered reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended on this Website may not be suitable for all investors. Past performance may not be indicative of future performance. Some of the securities/commodities presented herein should be considered speculative with a high degree of volatility and risk. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. You specifically agree to consult with a registered investment advisor, which we are not, prior to making any trading decision of any kind. While acting upon any information or analysis mentioned on this website, investors may please note that neither Matrix Solutions nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. Matrix Solutions and his affiliates may hold long or short positions in the securities/commodities discussed herein from time to time the services are intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities. Part of this website may contain advertising and other material submitted to us by third parties. We do not accept liability in respect of any advertisements. You acknowledge that any warranty that is provided in connection with any of the products or services advertised on this website described herein is provided solely by the owner, advertiser, manufacturer or supplier of that product and/or service, and not by us. We do not warrant that your access to the Website and/or related services will be uninterrupted or error-free, that defects will be corrected, or that this site or the server that makes it available is free of viruses or other harmful components. Subscribers are advised to understand that the services can fail due to failure of hardware, software, and Internet connection. Access to and use of this site and the information is at your risk and we do not undertake any accountability for any irregularities, viruses or damage to any computer or Mobiles that results from accessing, availing or downloading of any information from this site. We do not warrant or make any representations regarding the use or the results of the use of any product and/or service purchased in terms of its compatibility, correctness, accuracy, reliability or otherwise. You assume total responsibility and risk for your use of this site and site-related services. A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exists that unauthorized additions, deletions or alterations could be made by third parties to the site. Although we attempt to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event that such an inaccuracy arises, please inform our staff so that it can be corrected. Price and availability of products and services offered on the site are subject to change without prior notice. To the extent we provide information on the availability of products or services you should not rely on such information. We will not be liable for any lack of availability of products and services you may order through the site. Transactions shall be governed by and construed in accordance with the laws of India, without regard to the laws regarding conflicts of law. Any litigation or any action at law or in equity arising out of or relating to these agreement or transaction shall be subject to Mumbai jurisdiction only and the customer hereby agrees consents and submits to the jurisdiction of such courts for the purpose of litigating any such action. A CALL ON SMS is a service given only to members with the sole intention to aid their information means. We do not guarantee any accuracy of generation, databases, delivery timings etc. while giving this facility. Depending on your location, service provider, medium of communication and delivery, the service may be at times slow or not there at all. We do not guarantee completion of delivery. We shall in no way be responsible for delays in receiving SMS on the mobile caused due to delivery methods chosen by the Service Provider, rush on the Service Providers Servers or any other reason whatsoever that may cause such a delay. Use of this website and its services constitutes acceptance of Disclaimer, Privacy Policy and Terms of Use.