DAILY TRADING HIGHLIGHTS & OUTLOOK

25 Oct, 11

S&P CNX NIFTY

OPEN HIGH 5114.70 5145.65

LOW

5084.75

CLOSE

5098.35

Change(pts)

48.40

Change (%)

0.96

Advanc/Decline

4:5

Total Turnover (` in cr.)

159609

MARKET OUTLOOK The NIFTY opened the session with a positive gap and registered an intraday high of 5145 levels. However the selling returned at the higher levels which plunged the index to an intraday low of 5084 levels. The Nifty finally closed at 5098 with a gain of 48 points. The index once again witnessed selling pressure near to the resistance level of 5170 levels. On the daily chart it is to be noted the index has formed higher bottom on every pullback from this resistance level. Thus the immediate rising trendline support is placed at 5050 levels followed by the 5030 / 5000 levels. A close below the 5000 levels could see index declining towards the levels of 4960 / 4910 levels. On the upside the index has multiple resistances at the levels of 5145-5170 /5230 levels.

Key Levels & Averages

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

5098 9647

5050 9580

5030 9460

5170 9800

5230 9950

5071 9632

5037 9593

5420 10608

DAILY TRADING HIGHLIGHTS & OUTLOOK

25 Oct, 11

TRADING RECOMMENDATIONS

Bajaj Auto Limited CMP - ` 1694.40 Technical Outlook & Trading Strategy:The price of Bajaj Auto has registered a close above a key resistance of `1694 levels which is also its all time high level. The price of Bajaj Auto has also been sustaining above its 8 day moving average over the past few sessions of trade. The momentum indicators are in rising trajectory and are in buy mode. We recommend traders to buy 50% now and again in the range of `1670`1678 levels with stop loss placed below `1645.8 levels for the target of `1750/ ` 1790 levels. Hindustan Unilever Ltd CMP` 336.90 Technical Outlook & Trading Strategy:The share price of HUL has fallen from the highs of `354.8 on 15th Sept 2011 to the lows of `319.25 Levels. The stock has since then pulled back and tended to trade within the ` 325.25---` 335.65 range. On the daily chart the stock has managed to close above its cluster of moving averages. The stock has also registered a closed above declining trend line. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock. We recommend traders to buy 50% now and again in the range of `332`334 levels with stop loss placed below `324.8 levels for the target of `348/ ` 355 levels.

Disclaimer

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