WEEKLY TRADING HIGHLIGHTS & OUTLOOK

3rd Dec, 11

S&P CNX NIFTY

OPEN

4769.30

HIGH

5062.55

LOW

4754.80

CLOSE

5050.15

Change(pts)

340.10

Change (%)

7.22%

MARKET OUTLOOK

The NIFTY open on an extremely bullish note and maintained its strength throughout the week. The nifty registered a high of 5062 and closed at 5050, a gain of 340 (7.22 %) points. The index has recovered 410 points from the recent lows of 4639 levels after witnessing a strong decline of over 760 points in last month. However, the index would need to cross the key resistance line of 5068 (being the 61.8 % retracement from 04 Nov highs of 5326 to 23 Nov lows of 4640) and only a sustained move above these levels would lead to an index rally to the levels of 5168 / 5200/5220 (declining trend line). In case the nifty fails to get past this resistance of 5068 level, it could be confined in the range of 5068 4640 levels for the upcoming sessions. The immediate support for the nifty are placed at 5000 /4920 followed by the 4800 levels.

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

3rd Dec, 11

BSE - SENSEX
OPEN HIGH LOW CLOSE Change(pts) Change (%) 15890.80 16888.84 15888.28 16846.83 1151.40 7.34

MARKET OUTLOOK

The SENSEX open on an extremely bullish note and maintained its strength throughout the week. The SENSEX registered a high of 16888 and closed at 16846, al gain of 1151 (7.34 %) points. The index has recovered 1400 points from the recent lows of 15478 levels after witnessing a strong decline of over 2400 points in last month. However, the index would need to cross the key resistance line of 16853 (being the 61.8 % retracement from 04 Nov highs of 17702 to 23 Nov lows of 15478) and only a sustained move above these levels would lead to an index rally to the levels of 17186 / 17350/17400 (declining trend line). In case the SENSEX fails to get past this resistance of 16853 levels, it could be confined in the range of 16853 15478 levels for the upcoming sessions. The immediate support for the SENSEX is placed at 16700 /16430 followed by the 16000 levels.

Key Levels & Averages

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

16846 5050 9172

16430 5000 9000

16000 4920 8810

16000 5068 9360

17350 5168 9700

16330 4897 8816

16635 4995 9132

17561 5274 10415

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

TRADING RECOMMENDATIONS

3rd Dec, 11

CLOSE (CMP)

87.15

SUPPORT-1

84.75

SUPPORT-2

83.60

RESISTANCE-1

90.00

RESISTANCE-2

94.00

Steel Authority of India Limited CMP ` 87.15 Technical Outlook & Trading Strategy:The most important observation to be made on the charts of Steel Authority of India Limited is the positive divergence displayed by indicators. They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back. In the short term we expect the share price to head towards the target of ` 90/ ` 94 levels. Also in the weekly chart it has formed a two bar reversal pattern with an increase in trading volume. We recommend buy at current levels and again on pullback to the levels of ` 85- ` 85.75 with a stop loss placed below ` 83.30.
CLOSE (`CMP) SUPPORT-1 83.90 80.00

SUPPORT-2 RESISTANCE-1

77.00 86.50

RESISTANCE-2 52 week-High

88.50 129.50

52 week-Low

50.00

Hexaware Technologies Limited CMP ` 83.90 Technical Outlook & Trading Strategy:The share price movement of Hexaware Technologies Limited appears to be forming a complex Head & Shoulder pattern. A Head & Shoulder is a bearish pattern as it is associated with strong price decline once the share price records a breakout from its neckline. In the case of Hexaware the neckline is placed at the levels of ` 81.20. The measuring implications of the pattern suggest that following a breakout the share price could head towards the following price levels: ` 75 / ` 72 We recommend traders to sell at current price and again on pullback to the levels of ` 85-` 86 with a stop placed above ` 88.60 for targets of ` 78 / 75.

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

3rd Dec, 11
CLOSE (`CMP) SUPPORT-1 50.15 48.40

SUPPORT-2

47.00

RESISTANCE-1

53.50

RESISTANCE-2 52 week-High

57.00 117.40

52 week-Low

44.35

Punj Lloyd Limited CMP - ` 50.15 Technical Outlook & Trading Strategy:The share price of Punj Lloyd Limited has been falling for past few months. The important point to be noted in this fall is that the momentum indicator is rising. This indicates that the stock is witnessing positive divergence. On the daily chart the stock has closed above its near term moving average. The stock has also formed a bullish reversal candlestick pattern on the weekly chart indicating more upside for the stock. We recommend a buy at current level and again on pullback towards the levels of ` 48.8 -- ` 49.2 and stop loss placed below ` 47.40 for targets of 52 / 54/ 57.50.

CLOSE (`CMP) SUPPORT-1

83.00 81.00

SUPPORT-2

79.00

RESISTANCE1

87.00

RESISTANCE2

90.00

52 week-High

205.40

52 week-Low

62.85

Escorts Limited CMP` 83.00 Technical Outlook & Trading Strategy:The share price of Escorts Limited has fallen from the highs of `120 to the levels of `62.85 levels and retraced back 50% of the fall. Currently the stock is trading in 23.60% and 50% retracement range. Another point to be noted is that the stock has registered a break-out form its cluster of moving averages. This breakout has occurred with a significant jump in trading volumes, validating the said breakout. The MACD indicator is giving fresh buying signal and indicates strength in the current up-move. We recommend a buy at current levels with a stop loss placed below the level of ` 79.80 for the targets of `87/ `90.

WEEKLY TRADING HIGHLIGHTS & OUTLOOK

3rd Dec, 11
CLOSE (`CMP) SUPPORT-1 424.55 412.00

SUPPORT-2 RESISTANCE-1

402.00 465.00

RESISTANCE-2 52 week-High

480.00 451.25

52 week-Low

290.00

Havells India Limited CMP` 424.55 Technical Outlook & Trading Strategy:The Share price of Havells India Limited has been trading sideways since past few months. This consolidation is forming an ascending triangle pattern. The stock is also trading above its cluster of moving average. A weekly close above the range `432--`435 will confirm the fresh up move for the stock. The momentum indicators are also in bullish trajectory. Traders should look to initiate long positions above the `432 for price targets to levels of ` 462 / ` 480. We recommend all long positions be protected with a stop placed below ` 389.40.

Disclaimer

The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Matrix Solutions and his associates. The information contained herein is based on their analysis of the Charts and up on sources that are considered reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended on this Website may not be suitable for all investors. Past performance may not be indicative of future performance. Some of the securities/commodities presented herein should be considered speculative with a high degree of volatility and risk. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. You specifically agree to consult with a registered investment advisor, which we are not, prior to making any trading decision of any kind. While acting upon any information or analysis mentioned on this website, investors may please note that neither Matrix Solutions nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. Matrix Solutions and his affiliates may hold long or short positions in the securities/commodities discussed herein from time to time the services are intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities. Part of this website may contain advertising and other material submitted to us by third parties. We do not accept liability in respect of any advertisements. You acknowledge that any warranty that is provided in connection with any of the products or services advertised on this website described herein is provided solely by the owner, advertiser, manufacturer or supplier of that product and/or service, and not by us. We do not warrant that your access to the Website and/or related services will be uninterrupted or error-free, that defects will be corrected, or that this site or the server that makes it available is free of viruses or other harmful components. Subscribers are advised to understand that the services can fail due to failure of hardware, software, and Internet connection. Access to and use of this site and the information is at your risk and we do not undertake any accountability for any irregularities, viruses or damage to any computer or Mobiles that results from accessing, availing or downloading of any information from this site. We do not warrant or make any representations regarding the use or the results of the use of any product and/or service purchased in terms of its compatibility, correctness, accuracy, reliability or otherwise. You assume total responsibility and risk for your use of this site and site-related services. A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exists that unauthorized additions, deletions or alterations could be made by third parties to the site. Although we attempt to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event that such an inaccuracy arises, please inform our staff so that it can be corrected. Price and availability of products and services offered on the site are subject to change without prior notice. To the extent we provide information on the availability of products or services you should not rely on such information. We will not be liable for any lack of availability of products and services you may order through the site. Transactions shall be governed by and construed in accordance with the laws of India, without regard to the laws regarding conflicts of law. Any litigation or any action at law or in equity arising out of or relating to these agreement or transaction shall be subject to Mumbai jurisdiction only and the customer hereby agrees consents and submits to the jurisdiction of such courts for the purpose of litigating any such action. A CALL ON SMS is a service given only to members with the sole intention to aid their information means. We do not guarantee any accuracy of generation, databases, delivery timings etc. while giving this facility. Depending on your location, service provider, medium of communication and delivery, the service may be at times slow or not there at all. We do not guarantee completion of delivery. We shall in no way be responsible for delays in receiving SMS on the mobile caused due to delivery methods chosen by the Service Provider, rush on the Service Providers Servers or any other reason whatsoever that may cause such a delay. Use of this website and its services constitutes acceptance of Disclaimer, Privacy Policy and Terms of Use.