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

20 June 2 0 0 8

NIFTY 4504.25
Intra Day
Volatility 105 pts
S1 4448.23
S2 4382.55
R1 4563.65
R2 4613.71

SENSEX 15087.99
Intra Day
Volatility 308 pts
S1 14965.98
S2 14747.45
R1 15173.68 S&P Nifty (4504.25 points) (-78.15 pts)
R2 15320.37
The Bears tightened their grip further, knocking of 85 points in the
Nifty (300 points in Sensex). After a gap down open the Nifty
TREND Direction drifted down to hit an intraday low of 4488 (s2 mentioned). Sugar
stocks continued their dream run while all other Sectoral Indices
Short Term DN
remained subdued. Some action was witnessed in the Auto stocks.
Medium Term DN Overall it was a sluggish day as the volumes were poor while the
A/D ratio was negative at 1:2.
Long Term UP
The movement of the past 8-10 trading sessions is getting squeezed
in a triangle formation (though not classical). Support line of the
AVERAGES pattern is at 4462 points; a decisive breach in closing would once
Daily again retest the crucial support at 4370-4390 points. As long as
4390 points hold, the bulls hope is alive. Strong supply is seen
13 sma 4573.02 around 4650 points while unless the 4756 points is not sustained
34 sma 4845.94 the short term trend is down.
89 sma 4902.21
Intraday, the 4436-4449 points’ area is the crucial support in the
Nifty. Pivot is at 4526 points while resistance is pegged at 4572 and
NIFTY Intra Week 4614 points respectively. Volatility is likely to expand from the
Volatility 244 pts current range of around 100-110 points in a day or two. It’s going to
S2 4382.56 be acid test for the Bulls with inflation figure and nuke deal ahead.
Protect your positions as its better to be safe than sorry.
S3 4247.80
R1 4639.10
R2 4772.45
Petronet LNG Buy in Dips CMP: 64.70 Tgt: 68.50-72

The daily candlestick chart of Petronet shows a decline from Rs.83.80 to Rs.60.50.
The downward risk is limited for an anticipatory pullback. High risk traders can
buy in small quantities in declines around Rs.63 with a strict stop loss below
Rs.60 (preferably in close) for a pullback to Rs.68.50-72 in the next 7-8
trading sessions .

* It’s an anticipatory call Avoid gap openings and trade in cash.

* ST - short term, MT - medium term

 Intra Day Range for 20/06/2008
Scrip Close R1 R2 S/R S2 S1

A.C.C. 640.45 651.95 663.50 641.55 619.60 630.00

ABB LTD. 945.55 955.00 964.50 942.50 920.50 933.00

BHARTI TELE 804.70 811.80 818.90 803.40 787.90 796.30

BHEL 1423.15 1470.10 1517.05 1443.05 1369.05 1396.10

BOM DYEING 712.15 732.10 752.05 719.05 686.05 699.10

CENTURY TEXT 595.55 607.20 618.80 596.15 573.50 584.55

HIND.LEVER 231.95 234.30 236.65 231.55 226.45 229.20

ICICI BANK 753.30 771.60 789.95 759.60 729.25 741.25

INFOSYS TECH 1860.00 1882.50 1905.05 1858.75 1812.45 1836.20

ITC LTD. 204.25 206.30 208.40 203.80 199.20 201.70

LARSEN & TOU 2617.30 2688.10 2758.85 2648.65 2538.45 2577.90

MAHA.TELE 97.00 99.00 100.95 97.15 93.35 95.20

MARUTIUDYOG 746.50 760.70 774.85 748.35 721.85 734.20

ONGC CORPN 853.55 876.50 899.40 856.80 814.20 833.90

PUNJ LLOYD 252.85 260.75 268.65 256.00 243.35 248.10

RANBAXY LAB. 552.25 594.60 636.95 571.35 505.75 529.00

REL COM 526.30 534.10 541.95 527.05 512.15 519.20

REL CAP 1086.15 1126.95 1167.80 1103.50 1039.20 1062.65

RELIANCE 2245.00 2266.00 2287.00 2248.00 2209.00 2227.00

SATYAM COM 471.95 477.20 482.40 471.30 460.20 466.10

SIEMENS LTD. 478.05 514.80 551.55 494.90 438.25 458.15

STATE BANK 1301.00 1328.70 1356.35 1309.35 1262.35 1281.70

STERLITE IND 794.20 806.10 818.05 788.05 758.05 776.10

SUZLONENERGY 246.75 252.35 257.95 247.30 236.65 241.70

TATA MOTORS 503.05 513.60 524.20 507.40 490.60 496.80

TATA STEEL 815.60 828.00 840.40 819.50 798.60 807.10

TCS LTD. 885.95 895.15 904.35 886.70 869.05 877.50

TITAN IND. 1069.20 1084.80 1100.40 1069.40 1038.40 1053.80

TATA COMM. 408.60 418.55 428.55 410.00 391.45 400.00

WIPRO LTD. 488.50 496.20 503.95 484.65 465.35 476.90

S/R indicates the immediate support/resistance depending on the

closing price.
 Intra Day Range for 20/06/2008

Scrip Close R1 R2 S/R S2 S1

BANKNIFTY 5923.20 6024.60 6192.80 5957.80 5722.80 5789.60

CNXIT 4266.95 4346.50 4386.25 4274.25 4162.25 4234.50

JUNIOR 7460.00 7460.00 7460.00 7460.00 7460.00 7460.00

NIFTY FUTS. 4487.50 4505.75 4544.10 4485.65 4427.20 4447.30

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