MARKET REVIEW & OUTLOOK

[DAILY REPORT]

27th Dec, 2011

DAILY REPORT

INDEX REVIEW & OUTLOOK

Open High Low Close Change(Pts) Change(%) 8EMA 34EMA 200EMA

4718.15 4787.25 4718.15

4779

65

1.38

4725

4852

5294

The NIFTY opened on a positive note and registered an intraday high of 4787 levels. The Index witnessed sideways consolidation from the higher level which led it to decline to an intraday low of 4718. From there on the nifty rebounded strongly and finally closed at 4779 with a gain of 65 points.

In case Nifty finds supply pressure from the levels of 4830 then it has an immediate support at 47604730 / 4700 levels (as cluster of averages and retracement levels are placed in the above mentioned range)

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www.miteshthacker.com

The index has pulled back from its near term moving average and once again made a higher top higher bottom indicating that the trend is still intact. Going forward NIFTY can retrace up to its 50% level (starting from the highs of 5099.25 to the lows of 4555). Closing above 4830 levels, the NIFTY could head towards the declining trend line place around 4900 levels.

DAILY REPORT

TOP TRADES TO WATCH OUT FOR:Tata Steel Limited CMP` 357.75

CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA

357.75

737

340.6

350

342

368

376

359

390

517

After going through a steep price correction in the last two months, the stock price now seems to be making attempts for a meaningful rebound. The stock price has managed to close above its near term moving average and is poised for some upside action in the next few sessions. Traders can go long at CMP with a SL placed below `347.80 for a target of `370/ `380 levels.

Sun TV Network Limited CMP` 292.40

CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA

292.40 556.90 214.10

284

278

302

315

278.5

273

331.5

We advice traders to go long at current levels and again on dip up to `285--`288 with a stop loss placed below ` 280.8 for the targets of ` 308 / `320.

Contact: +91 22 67415443

www.miteshthacker.com

The stock price of Sun TV Network Limited has been trading within the range of cluster of moving averages. The stock has registered a breakout from its midterm moving average. The momentum indicators are rolling upward indicating more upside for the stock

DAILY REPORT

Disclaimer
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Contact: +91 22 67415443

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