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
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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
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February 11, 2015
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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
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