For April 20, 2015
A Sharekhan technical research newsletter
Punter’s Call
Three black crows on Nifty
Market on April 17, 2015: Resistance @ 8760
Nifty daily: 8606
9200
9150
The Nifty fell and closed with losses for the third
consecutive day and what’s more, it managed to hit a
century on the downside on all three days. So bears
have now scored a hat trick. The index has formed a
“Three black crows” candlestick pattern on the daily
chart and a “bearish engulfing” candlestick pattern on
the weekly chart. These are signs of a reversal. Hence,
we have kept our short-term as well as medium-term
bias down. On the hourly chart, the index has broken
the previous five-wave declining pattern. So the
minimum equality target comes to 8550, which is also
the 50% retracement level of the rise from 8269 to 8850.
The Bank Nifty seems to have started its wave Z down
and if the falling wedge pattern is drawn on the daily
chart, then it will break the previous low of 17719 and
find support near 17450. The momentum indicators on
the weekly and monthly charts remain in sell mode which
is a bearish sign going forward.
9100
9050
9000
8950
8900
8850
8800
8750
8700
8650
8600
8550
8500
8450
8400
8350
8300
8250
8200
8150
8100
8050
8000
7950
7900
KST (0.97089)
5
0
22
29
5
2015
12
19
27
2
9
February
16
23
2
9
March
16
23
30
6
April
13
20
27
4
Ma
60-minute
8900
ii
8850
8800
i
iv
8750
Other technical observations
iii
8700
8650
v
On the daily chart, the index is trading below the 20day moving average (DMA) and the 40-DMA, ie 8612 and
8661 respectively. The momentum indicator is trading
in positive mode on the daily chart.
8600
8550
8500
8450
8400
On the hourly chart, the Nifty is trading below the 20hour moving average (HMA) and the 40-HMA, ie 8708
and 8702 respectively, which are crucial intra-day levels.
The hourly momentum indicator has turned negative.
The market breadth was negative with 509 advances
and 989 declines on the National Stock Exchange.
KST (-1.05053)
19
20
23
24
25
26
27
30
31
1
April
6
7
8
1.0
0.5
0.0
-0.5
-1.0
-1.5
9
10
13
15
16
17
18
19
Market breadth
BSE
NSE
Advances
1184
509
Decline
1635
989
121
54
3,456 cr
17,747 cr
Unchanged
Volume (Rs)
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Looking Trendy
Short Term Trend
Index
Target
Sensex
28150
Trend
8556
u
Index
Target
Trend
Sensex
26800
Nifty
Reversal
u
Support / Resistance
Up above 29100
28150/29100
Up above 8850
8556/8850
Medium Term Trend
Nifty
u
u
8180
u
u
Up
Reversal
Support / Resistance
Up above 29430
26800/29430
Up above 8937
8180/8937
Icon guide
Down
Upswing matures
Downswing matures
Trendy Levels for Tomorrow
Sensex
Support
Nifty
Resistance
28368
28630
18800
19300
28150
28737
18693
19700
27950
28865
18182
20062
20DSMA
40DEMA
20DSMA
40DEMA
28368
28562
20390
19941
BSE Sensex: 28,442
BSE Sensex: 19013
For Private Circulation only
Eagle Eye
2
Support
Resistance
8556
5700
8500
5616
8454
5514
20DSMA
20DSMA
8612
6096
8656
5847
8708
5993
8760
6078
40DEMA
40DEMA
8661
5958
April 20, 2015
Nifty: 8,606
Nifty: 5705
Home
Smart Charts
Date
Recommendation
Action
17-Apr-15
17-Apr-15
16-Apr-15
9-Apr-15
8-Apr-15
Axis Bank Apr Fut
ACC Apr Fut
Kotak Bank Apr Fut
Jsw steel Apr Fut
RCOM Apr Fut
Sell
Sell
Sell
Buy
Buy
Stop Loss/
Reversal
(Intra-day)
Stop Loss/
Reversal
DCL
559.00
1,593.00
1,469.00
940.00
62.80
Buy/Sell
Price
542.50
1,534.00
1,416.30
958.30
61.90
Closing Potential %
Price P/L at CMP
(CMP)
537.00
1,521.20
1,375.00
961.00
70.25
Target1 Target 2
1.01%
500.00
0.83% 1,446.00
2.92% 1,310.00
0.28%
977.00
13.49%
68.00
476.00
1,376.00
1,270.00
1,017.00
77.00
NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing basis 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
P/L at CMP
Potential %
Target1
Target2
17-Apr-15
RCOM Apr Fut
Buy
69.60
72.30
70.25
-2.84%
77.00
79.00
17-Apr-15
Tata Steel Apr Fut
Buy
Book Profit
346.50
353.15
1.92%
356.00
362.00
16-Apr-15
Apollo Hospital Apr Fut
Sell
Book Profit
1,369.00
1,342.00
1.97%
1,333.00
1,299.00
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
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Eagle Eye
3
April 20, 2015
Home
Short specific
Term Trend
Stock
ideas
- CNX BANK INDEX - 1 MONTH (18,650.00, 18,650.00, 18,377.00, 18,418.00, -254.900)
21200
21100
21000
20900
20800
20700
20600
20500
20400
20300
20200
20100
20000
19900
19800
19700
19600
19500
19400
19300
19200
19100
19000
18900
18800
18700
18600
18500
18400
18300
18200
18100
18000
17900
17800
17700
17600
17500
100.0%
61.8%
C
50.0%
A
38.2%
23.6%
B
0.0%
Bank Nifty
Support: 18252/18149
Resistance: 18519/18718
KST (0.11310)
5
0
-5
12
19
27
2
9
February
16
23
2
March
9
16
23
30
6
April
13
20
27
4
Ma
Premium Technical Synopsis
Action
date
Calls
Action Segments
Reversal^
Stop loss/
(Rs)
Stop loss*
price
Reco
price
(Rs)
Closing
P/L (%)
(Rs)
Potential #
(Rs)
Tgt.1
(Rs)
Tgt.2
Rwd.
Risk/
ratio (%)
15.04.2015
Tata Power
Buy
Cash
77.00
81.50
80.45
-1.29%
95.00
110.00
1/6
09.04.2015
GVKPIL
Buy
Cash
9.00
9.65
9.20
-4.66%
11.00
13.00
1/5
*DCL
# CMP
^Intra-day
For Private Circulation only
Tgt. = Target
Rwd. = Reward
Eagle Eye
4
April 20, 2015
Home
Day Trader’s Hit List
For April 20, 2015
Scrip Name
NIFTY Futures
Support Levels
S2
S1
Close
(Rs)
Resistance Levels
R1
R2
Action
8500.0
8627.0
8636.7
8688.0
8706.0
Go Short Below s1
Bank Nifty Futures 18200.0
18377.0
18415.0
18579.0
18690.0
Go Short Below s1
531.8
533.7
537.0
541.0
Go Short Below s1
Axis Bank
526.0
BHEL
229.5
233.0
234.9
237.0
247.0
Go Long AboveR1 / Go Short Below s1
DLF
139.0
146.5
147.2
149.0
152.0
Go Short Below s1
Hindalco
134.5
137.6
139.8
141.7
144.0
Go Long AboveR1 / Go Short Below s1
ICICI Bank
302.6
308.3
310.1
315.0
317.6
Go Short Below s1
23.4
24.5
24.6
25.1
25.6
Go Short Below s1
1711.0
1730.0
1739.8
1747.0
1765.0
910.0
922.8
926.9
937.0
975.0
Jai Prakash
LNT
Reliance Industries
Go Short Below s1
Go Long AboveR1 / Go Short Below s1
SBI
285.0
289.0
291.8
295.0
305.0
Go Long AboveR1 / Go Short Below s1
Tata Motors
525.0
534.0
535.4
545.0
549.0
Go Short Below s1
Tata Power
TISCO
TCS
78.3
79.3
80.5
81.5
84.0
Go Long AboveR1 / Go Short Below s1
330.0
341.0
346.0
353.0
364.0
Go Long AboveR1 / Go Short Below s1
2434.0
2470.0
2474.9
2504.0
2550.0
Go Long AboveR1 / Go Short Below s1
*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
SL=Stoploss
For Private Circulation only
Eagle Eye
5
April 20, 2015
Home
Trading Rationale
Smart Charts
KST (-1.93604)
10
Axis Bank: Sell
5
0
-5
AXIS BANK (550.000, 550.350, 540.400, 542.000, -8.79999)
CMP: Rs542.50
670
660
650
640
630
620
610
600
590
580
570
560
550
540
530
Sell Axis Bank at the current market price of Rs542.50, with
the stoploss of Rs559 for the targets of Rs500 and Rs476.
The stock has broken out on the downside from an inside
bar & has started next leg down. Daily momentum indicator
has given a sell signal.
520
510
500
490
480
470
460
450
15000
10000
5000
x1000
15
22
29
5
2015
12
19
27
2
9
February
16
23
2
9
March
16
23
30
6
April
13
20
27
4
Ma
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April 20, 2015 • Contact: [email protected]
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