Eagle Eye Equities

December 24, 2018

Index
Punter’s Call
Looking Trendy
Nifty Day Trader
Smart Charts
Momentum Swing
Momentum Cash Ideas
Bank Nifty
Bank Nifty Day Trader
Day Trader’s Hit List

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Sharekhan Eagle Eye Equities

Punter’s Call
Bears back in action

December 21, 2018 Nifty daily: 10754

KST (1.15630) 3
2
1
0
-1

The Nifty opened lower and drifted lower throughout -2

-3
-4
-5

the trading session. After the sharp decline on - NSE50 [NIFTY] (10,944.30, 10,963.70, 10,738.70, 10,754.70, -205.700)
-6
-7

12000
11950

December 21, the index ended in the red for the 100.0%
11900
11850
11800
11750
11700

week. In the near term, the 40-day exponential 11650

11600
11550
11500
11450

moving average (DEMA) of 10726 will be a crucial 11400

11350
11300
11250
11200

support level on the way down. The index can fall to 61.8% 11150
11100
11050
11000
50.0% 10950

10660 – 10582 once the index breaks and sustain 38.2%

10900
10850
10800
10750
10700

below the 40-DEMA. On the way up, 10850 – 10900 23.6%

10650
10600
10550
10500
10450

will act as crucial resistance in the near term. In case 10400

10350
10300
10250
10200

of a pullback, a bounce towards the resistance levels 0.0% 10150

10100
10050
10000
9950

shall be considered as selling opportunity. Overall, 9900

9850
9800
9750

we maintain our bearish on the index for the short

6 13 20 27 3 10 17 24 1 8 15 22 29 5 12 19 26 3 10 17 24 31 7
August September October November December 2019

term with reversal placed at 11140.

60-minute
Other technical observations KST (-1.10759)
2.0
1.5
1.0
0.5
0.0
-0.5

On the daily chart, the Nifty is between the 20-day

-1.0
-1.5
-2.0
-2.5
-3.0
-3.5
- NSE50 [NIFTY] (10,769.95, 10,780.55, 10,738.70, 10,754.70, -15.8994)

moving average (DMA) and the 40-DEMA of 10773 11200

11150

11100

and 10726, respectively. The momentum indicator is 11050

11000

in bullish mode on the daily chart.

10950

10900

10850

10800

10750

On the hourly chart, the Nifty is below the 20-hour 10700

10650

10600

moving average (HMA) and the 40-HEMA of 10898 10550

10500

and 10851, respectively. The hourly momentum

10450

10400

10350

indicator is bearish. Market breadth was negative 10300

10250

10200

with 522 advances and 1176 declines on the National 10150

10100

Stock Exchange. 10050

10000

9950

9900

5 8 9 10 11 12 15 16 17 19 22 23 24 25 26 29 30 31 November 6 7 12 13 14 15 16 19 20 21 22 26 27 28 29 30 December 6 7 10 11 12 13 14 17 18 19 20 21 22 23

Market breadth
BSE NSE
Todays Close 35742.07 10754
Advances 905 522
Decline 1686 1176
Unchanged 152 364
Volume (Rs.) 2874.24 36038

December 24, 2018 2

Sharekhan Eagle Eye Equities

Looking Trendy
Short Term Trend Medium Term Trend
Support / Support /
Index Target Trend Reversal Index Target Trend Reversal
Resistance Resistance
á á
Nifty 10005 11140 10005 / 11140 Nifty 9700 11400 9700 / 11400

Icon guide
á
á

á á
Up Down Sideways Downswing matures Upswing matures

Nifty Day Trader

Support Resistance
10659 10850
10582 10898
10473 10963
20 DSMA 40 DEMA
10773 10726

Smart Charts
Stop Loss Call Potential%
Buy Price/
Date Scrip Name Action (On closing Closing P/L at Exit/ Target 1 Target 2
Sell Price
Basis ) Price/ CMP Current
21-Dec-18 GSFC Jan Fut Sell 115.00 111.55 111.50 0.04% 103.00 100.00
21-Dec-18 Ktk Bank Jan Fut Sell 113.50 108.25 108.50 -0.23% 99.00 93.00
21-Dec-18 Just Dial Jan Fut Sell 496.00 482.10 481.00 0.23% 391.00 359.00
21-Dec-18 Reliance Ind Jan Fut Sell 1,155.00 1,115.60 1,103.95 1.04% 1,057.00 1,025.00
NOTE: Kindly note that all stop losses in Smart Charts are on closing basis unless specified.
TPB: Trailing profit booked

Momentum Swing
Poten-
Call
Action Stop Loss/ Buy Price/ tial% P/L
Scrip Name Action Closing Target 1 Target 2
Date Reversal Sell Price at Exit/
Price/CMP
Current
21-Dec-18 Dr Reddy Dec Fut Sell 2,642.00 2,605.00 2,607.60 -0.10% ,544.00 2,525.00
21-Dec-18 DLF Dec Fut Sell 193.50 189.25 187.75 0.79% 183.00 181.00
21-Dec-18 Voltas Dec Fut Sell 585.00 576.10 574.95 0.20% 562.00 555.00
20-Dec-18 Cipla Dec Fut Sell 530.00 520.00 518.30 0.33% 507.00 500.00
20-Dec-18 Mothersumi Dec Fut Sell Stopped Out 169.50 175.20 -3.36% 165.00 162.80
20-Dec-18 Bharat Fin Dec Fut Sell 1,040.00 1,020.80 997.05 2.33% 1,000.00 975.00
19-Dec-18 PEL Dec Fut Buy Exit 2,284.90 2,320.15 1.54% 2,391.00 2,445.00
NOTE: Kindly note that all stop losses in Momentum swing are on an intra-day basis.
TPB: Trailing profit booked
1) The stop loss should be placed after 9.17am in order to avoid freak trade
2) The same will be revised in the TradeTiger terminal every day for the pop-ups

December 24, 2018 3

Sharekhan Eagle Eye Equities

Momentum Cash Ideas

Call Potential%
Action Stop Loss/ Buy Price/
Scrip Name Action Closing P/L at Exit/ Target 1 Target 2
Date Reversal Sell Price
Price/CMP Current
18-Dec-18 Sterlite Tech Buy Stopped Out 300.00 287.00 -4.33% 319.00 325.00
TPB: Trailing profit booked
1) The stop loss should be placed after 9.17am in order to avoid freak trade
2) The same will be revised in the TradeTiger terminal every day for the pop-ups

December 24, 2018 4

Sharekhan Eagle Eye Equities

Bank Nifty
Short Term Trend Medium Term Trend
Support / Support /
Index Target Trend Reversal Index Target Trend Reversal
Resistance Resistance
á á
Bank Nifty 24500 27500 24500 / 27500 Bank Nifty 23600 28390 23600 / 28390

Icon guide
á
á
á á
Up Down Sideways Downswing matures Upswing matures

Bank Nifty Day Trader Bank Nifty Daily

0

Support Resistance
-5

29600
29500
29400
29300
29200
29100

26693 27093
29000
28900
28800
28700
28600
28500
100.0% 28400
28300
28200

26484 27369 28100

28000
27900
27800
27700
27600
78.6% 27500
27400
27300

26275 27500 27200

27100
27000
26900
61.8% 26800
26700
26600
26500

20 DSMA 40 DEMA 50.0%

26400
26300
26200
26100
26000
25900
38.2%
25800
25700

26707 26403
25600
25500
25400
25300
23.6%
25200
25100
25000
24900
24800
24700
24600
24500
24400
0.0% 24300
24200
24100
24000
23900
23800
23700
23600
23500

16 23 30 6 13 20 27 3 10 17 24 1 8 15 22 29 5 12 19 26 3 10 17 24 31 7
August September October November December 2019

December 24, 2018 5

Sharekhan Eagle Eye Equities

Day Trader’s Hit List

For December 24, 2018
Support Levels Close Resistance Levels
Scrip Name Action
S2 S1 (Rs.) R1 R2
NIFTY Futures 10669.0 10725.0 10769.0 10810.0 10870.0 Go Short Below S1

Bank Nifty Futures 26769.0 26888.0 26971.8 27090.0 27236.0 Go Short Below S1

Axis Bank 609.5 616.0 621.60 626.5 633.0 Go Short Below S1

BHEL 68.1 69.0 69.7 70.4 71.2 Go Short Below S1

BPCL 367.0 371.0 374.60 378.5 383.0 Go Long AboveR1

INFOSYS 634.0 641.0 647.0 653.0 660.0 Go Short Below S1

ICICI Bank 348.0 352.0 355.1 358.5 362.0 Buy Above R1/ Sell Below S1

LIC Housing 462.0 466.0 469.1 472.0 476.0 Go Short Below S1

LNT 1399.0 1410.0 1420.9 1432.0 1443.0 Buy Above R1/ Sell Below S1

Reliance Industries 1076.5 1088.0 1098.0 1108.0 1119.0 Go Short Below S1

SBI 287.0 290.0 292.4 295.0 298.0 Buy Above R1/ Sell Below S1

SunPharma 418.5 422 425.1 428 431 Go Short Below S1

Tata Motors 172.0 173.5 175.5 177.5 179.5 Go Long AboveR1

Yes Bank 178.5 181.5 183.3 185.5 188.0 Go Short Below S1

TISCO 511.6 516.0 520.2 524.5 528.0 Go Short Below S1

TCS 1863.0 1885.0 1905.0 1931.0 1948.0 Buy Above R1/ Sell Below S1

*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
SL=Stoploss

December 24, 2018 6

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