WEEKLY TRADING HIGHLIGHTS & OUTLOOK

22 Oct, 11

S&P CNX NIFTY

OPEN

5156.2

HIGH

5160.2

LOW

5011.05

CLOSE

5049.95

Change(pts)

-82.35

Change (%)

-1.6%

MARKET OUTLOOK The Nifty opened on a positive note and registered an intraweek high of 5160 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraweek low of 5011. The index finally closed at 5049 levels with a loss of 82 points. The index consolidated in a narrow range of 5000-5170 after witnessing a sharp rise of almost 5 % in the previous 2 weeks. 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 multiple resistances at the 5170 (Recent swing top) / 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.

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

22 Oct, 11

BSE - SENSEX
OPEN HIGH 17176.05 17188.55

LOW

16669.04

CLOSE

16785.64

Change(pts)

-297.05

Change (%)

-1.74%

MARKET OUTLOOK The SENSEX opened on a positive note and registered an intraweek high of 17188 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraweek low of 16669. The index finally closed at 16785 levels with a loss of 297 points. The index consolidated in a narrow range of 17200-16650 after witnessing a sharp rise of more than 5 %in the previous 2 weeks. 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 multiple resistances at the 17210 (Recent swing top) / 17360 (Negative Gap resistance level). On the downside a close below the 16650 level could see the declining momentum accentuate to the levels of 16515 /16180 /16000 levels. Sustenance above the 17360 would see the index filling up its negative gap and it could head towards the levels of 17500 / 17650 levels in a short span of time.

Key Levels & Averages

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

16785 5132 9695

16650 5060 9520

16515 5115 9380

17210 5230 9920

17360 5300 10030

16819 5058 9628

16733 5030 9590

18435 5533 10618

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

TRADING RECOMMENDATIONS

22 Oct, 11

CLOSE (CMP)

19.50

SUPPORT-1

18.80

SUPPORT-2

17.90

RESISTANCE-1

21.00

RESISTANCE-2

22.00

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.
CLOSE (`CMP) SUPPORT-1 106.60 103.40

SUPPORT-2 RESISTANCE-1

101.80 111.00

RESISTANCE-2 52 week-High

115.00 109.65

52 week-Low

46.30

Arvind Ltd. CMP` 106.60 Technical Outlook & Trading Strategy:On the weekly chart the stock has registered a running breakout to its rising channel resistance trend line. The breakout has been registered with the robust volume on the weekly chart. The MACD indicator on the weekly chart is also in a bullish zone suggesting more upside in the stock. We recommend traders to buy in the range of `106`107 levels with a stop loss placed below `103.4 levels for targets of `111/`115 levels

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

22 Oct, 11

CLOSE (`CMP) SUPPORT-1

2052.30 2020.00

SUPPORT-2

1988.80

RESISTANCE-1

2120.00

RESISTANCE-2 52 week-High

2200.00 2237.00

52 week-Low

1375.75

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 `2020` 2030 levels with a stop loss placed below `1988.8 levels for targets of `2120/` 2200 levels.
CLOSE (`CMP) SUPPORT-1 66.40 104.00

SUPPORT-2

102.80

RESISTANCE1

110.00

RESISTANCE2

114.00

52 week-High

87.40

52 week-Low

43.60

TVS Motor Ltd. CMP` 66.40 Technical Outlook & Trading Strategy:The price of Tvs Motor has registered a close above weekly key resistance during the previous session of trade. The price of Tvs Motor has also been sustaining above its 8 day moving average over the past few sessions of trade which is also a bullish sign. 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 `65 `65.5 levels with a stop loss placed below `64.4 levels for targets of `70/ `72 levels, expected to be achieved in coming few Sessions.

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

22 Oct, 11

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