A Sharekhan technical research newsletter February 11, 2015 Punter’s Call Bears holding the channel The Nifty opened at 8603, up 38 points, and has been trading in positive ever since. On the hourly chart it has been falling in a downward sloping parallel channel and it seems that it will continue to trade within this channel for some more time. On the higher side, 8670 is an immediate resistance and until that level is taken off the overall trend shall remain down in the short term. There also exists the resistance of the 40-hour exponential moving average. The banking sector provided a positive close yesterday, as was expected. This means that the bounce can continue for a few days but these bounces should be utilised to initiate shorts around 8670 levels. However, stock-specific up and down movement will continue as a few stocks have yet to achieve their retracement levels. So the strategy should be to sell on rise in the index even though a few stocks might inch higher in this bounce. The immediate range for the Nifty is 8445 to 8670 levels. On the hourly chart, the momentum indicator has turned positive. The Nifty is trading between the 20-hour simple moving average and the 40-hour exponential moving average, ie 8592 and 8652 respectively, which are crucial levels in the immediate run. The market breadth is positive with 946 advances and 456 declines on the National Stock Exchange. Updated at 12.00 noon Advance Decline BSE 1,413 921 NSE 946 456 Moving Average (hourly) 20(S) 8592 100 (S) 8760 40(S) 8666 200 (S) 8556 S: Simple moving average 9 00 0 8 95 0 8 90 0 8 85 0 8 80 0 8 75 0 8 70 0 8 65 0 8 60 0 8 55 0 8 50 0 8 45 0 KS T ( 0 .0 2 4 7 9 ) 1 .5 1 .0 0 .5 0 .0 -0 . 5 -1 . 0 -1 . 5 21 22 23 27 28 29 30 2 3 F e b r u a ry 4 5 6 9 10 11 12 For Private Circulation only REGISTRATION DETAILS Regd office: Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra. Tel: 022 - 61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE - INB/INF011073351 ; BSE- CD ; NSE- INB/INF231073330; CD-INE231073330 ; MCX Stock Exchange - INB/INF261073333 ; CD-INE261073330 ; DP - NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN-DPCDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. 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Looking Trendy Short Term Trend Index Target Sensex 27000 Nifty Trend Reversal u u 8230 Support / Resistance Up above 29600 27000/29600 Up above 8950 8230/8950 Medium Term Trend Index Target Sensex 26450 Nifty Trend u u 8000 u u Up Reversal Support / Resistance Up above 29850 26450/29850 Up above 9000 8000/9000 Icon guide Down Upswing matures Downswing matures Premium Technical Synopsis Calls Action date Action Segments Stop loss/ Reversal^ Stop loss* (Rs) Reco price (Rs) Closing price (Rs) Potential # P/L (%) Tgt.1 (Rs) Tgt.2 (Rs) Risk/ Rwd. ratio (%) Hind Zinc 11-02-15 Buy Cash - 169.50 181.90 183.00 0.60% 196 210 4/9 Videocon Ind 09-02-15 Buy Cash - 153.60 165.00 160.30 -2.85% 196 210 1/4 Yes Bank Feb Fut 09-02-15 Sell Fut - 827.00 803.75 832.00 -3.51% 757 727 1/3 *DCL # CMP ^Intra-day Tgt. = Target Rwd. = Reward High noon 2 February 11, 2015 Home Smart Charts Date Recommendation 10-Feb-15 6-Feb-15 6-Feb-15 6-Feb-15 5-Feb-15 4-Feb-15 28-Jan-15 Idea Feb Fut Dr Reddy Feb Fut Amtek Auto Feb Fut Axis Bank Feb Fut IRB Infra Feb Fut Glenmark Feb Fut NTPC Feb Fut Action Stop Loss/ Reversal (Intra-day) Sell Sell Sell Sell Sell Buy Buy Stop Loss/ Reversal DCL Buy/Sell Price 159.00 Stopped out 164.00 580.00 272.00 Book profit 137.00 153.30 3062.85 164.30 553.55 257.00 734.00 141.80 Closing Potential % Price P/L at CMP (CMP) 151.00 3189.00 152.15 567.00 257.40 764.40 138.95 1.50% -4.12% 7.40% -2.43% -0.16% 4.14% -2.01% Target1 Target 2 140.5 2900 149 510 241 780 151 137 2785 144 500 225 810 169 NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing ba sis unless specified. TPB: Trailing profit booked Momentum Swing For the short term—1 to 5 days Action Date Stock Action Stop loss Price Closing price Potential % Target1 Target2 P/L at CMP 11-Feb-15 SSLT Feb Fut Sell 208.50 204.00 203.80 0.10% 198 193 11-Feb-15 Glenmark Feb Fut Buy 750.00 763.95 763.35 -0.08% 784 800 11-Feb-15 Adani Ent Feb Fut Buy 637.90 653.50 657.75 0.65% 670 680 NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis. TPB: Trailing profit booked NOTE: Action taken after market hours will be highlited in blue colour. Rules for momentum calls: 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 Momentum Cash Ideas For the short term—1 to 10 days Action Date Stock Action 10-Feb-15 Fortis Buy Stop loss price Price Closing Potential % P/L at CMP Target1 Target2 Book profit 115.70 121.00 4.58% 118.5 121 TPB: Trailing profit booked NOTE: Action taken after market hours will be highlited in blue colour. Rules for momentum calls: 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 High Noon 32 February 11, 2015 Home Visit us at www.sharekhan.com Home To know more about our products and services click here. For Private Circulation only Disclaimer This document has been prepared by Sharekhan Ltd. (SHAREKHAN) and is intended for use only by the person or entity to which it is addressed to. 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