Eagle Eye Equities

December 24, 2019

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

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Sharekhan Eagle Eye Equities

Punter’s Call
Keep a close watch

December 23, 2019 Nifty daily: 12,262.75

In case of the Nifty, the battle between the bulls and

the bears continued on December 23 as well. A gap-
down opening at the start was bought into resulting
in a swift recovery into the beginning itself. Another
round of selling, in the second half of the session,
got absorbed near the hourly lower Bollinger Band.
Thus, the index rebounded sharply towards the end,
though it marginally ended in the red. The overall
structure shows that the consolidation since the last
couple of sessions is just a pause and the larger trend
remains positive. The short-term target on the higher
side is pegged at 12350. On the other hand, 12220-
12200 will keep acting as a cushion for the Nifty and 60-minute
will provide a fresh buying opportunity in the case of
any dip.
Other technical observations
On the daily chart, the Nifty is above the 20-day
moving average (DMA) and the 40-DEMA, i.e. 12069
and 11946 respectively. The momentum indicator is
bullish on the daily chart.
On the hourly chart, the Nifty is above the 20-hour
moving average (HMA) and the 40-HEMA, i.e. 12259
and 12201, respectively. The hourly momentum
indicator is bearish. Market breadth was negative
with 839 advances and 969 declines on the National
Stock Exchange (NSE).
Market breadth
BSE NSE
Todays Close 41,642.66 12,262.75
Advances 1,121 839
Decline 1,394 969
Unchanged 206 345
Volume (Rs.) 1,930.28 cr 30,128.81 cr

December 24, 2019 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

Nifty 12350 á 11832 11832 / 12350 Nifty 12560 á 11694 11694 / 12560

NOTE: Reversal on closing basis NOTE: Reversal on closing basis

Icon guide
á
á

á á
Up Down Sideways Downswing matures Upswing matures

Nifty Trader
Support Resistance
12201 12294
12158 12350
12069 12493
20 DSMA 40 DEMA
12069 11946

Smart Charts
Stop Loss Potential%
Buy Price/ Call Closing
Date Scrip Name Action (On closing P/L at Exit/ Target 1 Target 2
Sell Price Price/ CMP
Basis ) Current
23-Dec-19 LICHSGFIN Fut Sell 451.00 431.40 431.00 0.09% 400.00 385.00
18-Dec-19 Exide Ind Dec Fut Buy 177.50 184.05 178.50 -3.02% 192.00 199.00
13-Dec-19 Concor Dec Fut Buy Exit 576.15 587.00 1.88% 610.00 638.00
06-Dec-19 UPL Dec Fut Sell Stopped Out 565.00 585.85 -3.69% 519.00 500.00
NOTE: Kindly note that all stop losses in Smart Charts are on closing basis unless specified.
TPB: Trailing profit booked

Momentum Swing
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
19-Dec-19 L & T Dec Fut Buy 1288.00 1317.00 1315.00 -0.15% 1352.00 1375.00
19-Dec-19 ONGC Dec Fut Buy 122.90 126.50 125.20 -1.03% 130.00 133.00
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, 2019 3

Sharekhan Eagle Eye Equities

Bank Nifty
Short Term Trend Medium Term Trend
Support / Support /
Index Target Trend Reversal Index Target Trend Reversal
Resistance Resistance

Bank Nifty 32900 á 30800 30800 / 32900 Bank Nifty 33540 á 29600 29600 / 33540

NOTE: Reversal on closing basis NOTE: Reversal on closing basis

Icon guide
á
á

á á
Up Down Sideways Downswing matures Upswing matures

Bank Nifty Trader Bank Nifty Daily

Support Resistance

32197 32503

31846 32700

31371 32900

20 DSMA 40 DEMA

31846 31204

Key Indices
Particulars Target Trend Reversal Support / Resistance

Nifty Auto 8500 á 7568 7568 / 8500

Nifty Fin. Service 15027 á 13900 13900 / 15027

Nifty FMCG 29100 â 30800 29100 / 30800

Nifty IT 16000 á 14890 14890 / 16000

Nifty Metal 2860 á 2570 2570 / 2860

Nifty Pharma 8650 á 7775 7775 / 8650

Nifty Mid Cap 100 17338 á 16200 16200 / 17338

Nifty Small Cap 100 5910 á 5500 5500 / 5910

December 24, 2019 4

Sharekhan Eagle Eye Equities

Day Trader’s Hit List

For December 24, 2019
Support Levels Close Resistance Levels
Scrip Name Action
S2 S1 (Rs.) R1 R2
NIFTY Dec Futures 12170.0 12226.0 12276.8 12320.0 12400.0 Buy on dips near S1

Bank Nifty Dec Futures 32055.0 32180.0 32336.6 32440.0 32580.0 Buy on dips near S1

Axis Bank 725.0 738.0 744.80 749.0 757.0 Buy Above R1

Bajaj Finance 4040.0 4130.0 4158.00 4184.0 4220.0 Buy Above R1

HDFC 2378.2 2408.0 2430.30 2447.0 2460.0 Buy Above R1

HDFC Bank 1285.0 1295.0 1301.50 1306.0 1320.0 Buy Above R1/ Sell Below S1

Hindustan Unilever 1920.0 1945.0 1950.00 1962.0 1988.0 Buy Above R1

INFOSYS 719.0 731.7 736.00 740.0 753.0 Buy Above R1

ICICI Bank 528.1 537.6 541.8 545.0 551.0 Sell Below S1

ITC 235.3 237.5 239.10 240.7 242.7 Sell Below S1

Kotak Bank 1669.5 1687.3 1702.5 1715.3 1725.0 Sell Below S1

LNT 1290.0 1305.0 1312.0 1322.0 1340.0 Buy Above R1/ Sell Below S1

Maruti 7205.0 7311.4 7367.5 7394.0 7458.0 Buy Above R1

Reliance Industries 1540.5 1557.8 1570.0 1577.6 1596.0 Sell Below S1

SBI 324.5 330.5 332.5 335.3 339.0 Buy Above R1/ Sell Below S1

SunPharma 418.4 423.4 427.4 431.1 437.6 Sell Below S1

Tata Steel 443.1 455.1 461.2 467.0 480.0 Buy Above R1/ Sell Below S1

TCS 2186.0 2210.0 2234.1 2246.8 2275.0 Buy Above R1

Titan 1187.0 1201.1 1209.0 1215.0 1230.0 Sell Below S1

Zeel 283.0 289.0 294.4 296.4 301.5 Buy Above R1

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

December 24, 2019 5

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