Market+Strategy
Content
Daily Technical Report
F O R P R I V A T E C I R C U L A T I O N O N L Y
24 June 2 0 0 8
NIFTY Intra Day
Volatility S1 S2 R1 R2
4266.40
132 pts 4210.88 4155.37 4336.65 4392.15
SENSEX Intra Day Volatility
S1 S2 R1 R2
14293.32 359 pts
14134.33 13975.34 14481.45 14669.54
S&P Nifty (4266.40 points)
(-81.15 pts)
TREND Direction Short Term DN Medium Term Long Term DN UP
There was no respite for the Bulls as the onslaught continued wiping off another 2% from the benchmark Indices. After a gap down opening, the markets drifted down hitting the weekly s1 at 4227 points. Pull back from the support was short lived as the Bears targeted Reliance group and L&T. Among Sectoral Indices, Banking, CGS and Metal stocks remained under selling pressure while FMCG and IT stocks closed flat. The A/D ratio was highly negative at 1:6 but the volumes were lower. In just four trading sessions, the Nifty plunged 455 points. A break out below the small triangle formation pattern on Friday is going to be a cause of worry. Also now the long term trend will come in jeopardy. To show some resilience, the Bulls need to decisively close above 4457 points. Resistance on the upside is at 4356 points. On the downside, 4226, 4155-4163 are the immediate supports. Intraday, pivot in the Nifty is at 4281 points while resistance is pegged at 4336-4356 points range . Crucial support is at 4210 and 4183 points which if holds would give a breather for the Bulls. On the intraday basis, the markets are in an oversold zone but the pullbacks are currently on short covering. The sentiments are weak as the markets are in the firm grip of the Bears. A super human effort is required on the part of the Bulls to turn the table, till then the Bear domination prevails!!!
AVERAGES
Daily 13 sma 34 sma 89 sma 4520.13 4792.81 4883.79
NIFTY Intra Week
Volatility S1 S2 R1 R2 308 pts 4227.50 4167.50 4573.67 4739.40
Intra Day Range for 24/06/2008
Scrip A.C.C. ABB LTD. BHARTI TELE BHEL BOM DYEING CENTURY TEXT HIND.LEVER ICICI BANK INFOSYS TECH ITC LTD. LARSEN & TOU MAHA.TELE MARUTIUDYOG ONGC CORPN PUNJ LLOYD RANBAXY LAB. REL CAP RELIANCE REL COM SATYAM COM SIEMENS LTD. STATE BANK STERLITE IND SUZLONENERGY TATA MOTORS TATA STEEL TCS LTD. TITAN IND. TATA COMM. WIPRO LTD. Close 605.80 890.95 758.15 1361.45 636.75 533.65 226.55 721.35 1847.50 195.40 2396.30 93.65 688.30 887.30 225.55 513.45 928.50 2022.20 487.90 459.80 437.55 1205.05 737.85 228.00 488.40 745.55 857.80 1052.45 356.90 479.55 R1 617.20 915.25 774.10 1395.00 662.20 550.30 229.90 735.95 1874.70 202.90 2499.50 95.20 716.15 908.30 237.75 530.70 990.30 2076.05 497.40 467.80 448.70 1236.65 764.60 238.30 495.20 770.70 876.50 1073.35 380.60 490.20 R2 628.60 939.60 790.05 1428.50 687.60 566.90 233.20 750.50 1901.85 210.40 2602.75 96.80 744.05 929.25 250.00 548.00 1052.15 2129.90 506.85 475.80 459.80 1268.30 791.30 248.55 502.05 795.80 895.25 1094.20 404.30 500.85 S/R 609.60 896.65 754.55 1367.50 643.60 537.40 225.45 722.95 1837.85 197.50 2439.75 94.10 699.10 879.15 229.70 520.10 956.15 2030.05 485.20 458.90 438.90 1214.35 743.30 232.00 486.70 750.90 860.25 1043.05 366.30 475.35 S2 590.60 853.70 719.05 1306.50 599.60 507.90 217.70 695.40 1773.85 184.60 2276.75 91.40 654.15 829.05 209.40 492.20 860.15 1930.20 463.55 442.00 418.00 1160.40 695.30 215.45 471.35 706.00 825.25 991.90 328.30 449.85 S1 598.20 872.30 738.60 1334.00 618.20 520.80 222.15 708.40 1810.70 190.00 2336.50 92.50 671.20 858.20 217.45 502.80 894.30 1976.20 475.75 450.90 427.80 1182.70 716.60 221.75 479.85 725.80 841.50 1022.20 342.60 464.70
S/R indicates the immediate support/resistance depending on the closing price.
Intra Day Range for 24/06/2008
Scrip BANKNIFTY CNXIT JUNIOR NIFTY FUTS. Close
5583.25 4197.90 6890.00 4267.65
R1
5658.60 4276.40 7005.00 4329.10
R2
5792.30 4315.70 7195.00 4443.05
S/R
5600.30 4200.70 6930.00 4276.55
S2
5408.30 4085.70 6665.00 4110.05
S1
5466.60 4161.40 6740.00 4162.60
Disclaimer Attached:
This document has been prepared by Religare Securities Limited (Technical Research Department). This is not an offer to buy or sell or the solicitation of an offer to buy or sell any security or to participate in any particular trading strategy or as an official confirmation of any transaction. The views expressed are those of analyst. The information contained herein is from publicly available data or other sources believed t o be reliable or developed through analysis. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. Religare accepts no obligation to correct or update the information or opinions in it. Religare may discontinue research coverage of a subject company or change the opinion(s) without notice. The investment discussed or views expressed may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them. Religare recommends that investors independently evaluate particular investments and strategies. The user assumes the entire risk of any use made of this information. Neither Religare nor any of its affiliates, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Religare and its affiliates, officers, directors, and employees may from time to time, effect or have effected an own account transaction in, or deal as principal or agent in or for the securities mentioned in this document. They may perform or seek to perform investment banking or other services for, or solicit investment banking or act as advisor or lender / borrower to such company (ies) or have other potential conflict or interest with respect to any recommendation and related information and opinions. The recipient should take this into account before interpreting the document. This report is not directed or intended for distribution, publication, availability or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication availability or use would be contrary to law regulation or which would subject Religare and affiliates to any registration or licensing requirements within such jurisdiction, persons in whose possession this document comes, should inform themselves about and observes, any such restrictions. Copy right in this document vests exclusively with Religare. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose, without prior written permission from Religare. We do not guarantee the integrity of any e-mails or attached files and are not responsible for any changes made to them by any other person.
Religare Securities Ltd. – Amar Calibre, CTS 911, Ground Floor, BMCC Road, Shivaji Nagar, Pune:411004. Tel: 020-30240365, E-mail: [email protected] Website: www.religare.in 19, Nehru Place, New Delhi-110019. Tel: 91-11-55562200, Fax:91-11-55562277.
F O R P R I V A T E C I R C U L A T I O N O N L Y
24 June 2 0 0 8
NIFTY Intra Day
Volatility S1 S2 R1 R2
4266.40
132 pts 4210.88 4155.37 4336.65 4392.15
SENSEX Intra Day Volatility
S1 S2 R1 R2
14293.32 359 pts
14134.33 13975.34 14481.45 14669.54
S&P Nifty (4266.40 points)
(-81.15 pts)
TREND Direction Short Term DN Medium Term Long Term DN UP
There was no respite for the Bulls as the onslaught continued wiping off another 2% from the benchmark Indices. After a gap down opening, the markets drifted down hitting the weekly s1 at 4227 points. Pull back from the support was short lived as the Bears targeted Reliance group and L&T. Among Sectoral Indices, Banking, CGS and Metal stocks remained under selling pressure while FMCG and IT stocks closed flat. The A/D ratio was highly negative at 1:6 but the volumes were lower. In just four trading sessions, the Nifty plunged 455 points. A break out below the small triangle formation pattern on Friday is going to be a cause of worry. Also now the long term trend will come in jeopardy. To show some resilience, the Bulls need to decisively close above 4457 points. Resistance on the upside is at 4356 points. On the downside, 4226, 4155-4163 are the immediate supports. Intraday, pivot in the Nifty is at 4281 points while resistance is pegged at 4336-4356 points range . Crucial support is at 4210 and 4183 points which if holds would give a breather for the Bulls. On the intraday basis, the markets are in an oversold zone but the pullbacks are currently on short covering. The sentiments are weak as the markets are in the firm grip of the Bears. A super human effort is required on the part of the Bulls to turn the table, till then the Bear domination prevails!!!
AVERAGES
Daily 13 sma 34 sma 89 sma 4520.13 4792.81 4883.79
NIFTY Intra Week
Volatility S1 S2 R1 R2 308 pts 4227.50 4167.50 4573.67 4739.40
Intra Day Range for 24/06/2008
Scrip A.C.C. ABB LTD. BHARTI TELE BHEL BOM DYEING CENTURY TEXT HIND.LEVER ICICI BANK INFOSYS TECH ITC LTD. LARSEN & TOU MAHA.TELE MARUTIUDYOG ONGC CORPN PUNJ LLOYD RANBAXY LAB. REL CAP RELIANCE REL COM SATYAM COM SIEMENS LTD. STATE BANK STERLITE IND SUZLONENERGY TATA MOTORS TATA STEEL TCS LTD. TITAN IND. TATA COMM. WIPRO LTD. Close 605.80 890.95 758.15 1361.45 636.75 533.65 226.55 721.35 1847.50 195.40 2396.30 93.65 688.30 887.30 225.55 513.45 928.50 2022.20 487.90 459.80 437.55 1205.05 737.85 228.00 488.40 745.55 857.80 1052.45 356.90 479.55 R1 617.20 915.25 774.10 1395.00 662.20 550.30 229.90 735.95 1874.70 202.90 2499.50 95.20 716.15 908.30 237.75 530.70 990.30 2076.05 497.40 467.80 448.70 1236.65 764.60 238.30 495.20 770.70 876.50 1073.35 380.60 490.20 R2 628.60 939.60 790.05 1428.50 687.60 566.90 233.20 750.50 1901.85 210.40 2602.75 96.80 744.05 929.25 250.00 548.00 1052.15 2129.90 506.85 475.80 459.80 1268.30 791.30 248.55 502.05 795.80 895.25 1094.20 404.30 500.85 S/R 609.60 896.65 754.55 1367.50 643.60 537.40 225.45 722.95 1837.85 197.50 2439.75 94.10 699.10 879.15 229.70 520.10 956.15 2030.05 485.20 458.90 438.90 1214.35 743.30 232.00 486.70 750.90 860.25 1043.05 366.30 475.35 S2 590.60 853.70 719.05 1306.50 599.60 507.90 217.70 695.40 1773.85 184.60 2276.75 91.40 654.15 829.05 209.40 492.20 860.15 1930.20 463.55 442.00 418.00 1160.40 695.30 215.45 471.35 706.00 825.25 991.90 328.30 449.85 S1 598.20 872.30 738.60 1334.00 618.20 520.80 222.15 708.40 1810.70 190.00 2336.50 92.50 671.20 858.20 217.45 502.80 894.30 1976.20 475.75 450.90 427.80 1182.70 716.60 221.75 479.85 725.80 841.50 1022.20 342.60 464.70
S/R indicates the immediate support/resistance depending on the closing price.
Intra Day Range for 24/06/2008
Scrip BANKNIFTY CNXIT JUNIOR NIFTY FUTS. Close
5583.25 4197.90 6890.00 4267.65
R1
5658.60 4276.40 7005.00 4329.10
R2
5792.30 4315.70 7195.00 4443.05
S/R
5600.30 4200.70 6930.00 4276.55
S2
5408.30 4085.70 6665.00 4110.05
S1
5466.60 4161.40 6740.00 4162.60
Disclaimer Attached:
This document has been prepared by Religare Securities Limited (Technical Research Department). This is not an offer to buy or sell or the solicitation of an offer to buy or sell any security or to participate in any particular trading strategy or as an official confirmation of any transaction. The views expressed are those of analyst. The information contained herein is from publicly available data or other sources believed t o be reliable or developed through analysis. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. Religare accepts no obligation to correct or update the information or opinions in it. Religare may discontinue research coverage of a subject company or change the opinion(s) without notice. The investment discussed or views expressed may not be suitable for all investors and certain investors may not be eligible to purchase or participate in some or all of them. Religare recommends that investors independently evaluate particular investments and strategies. The user assumes the entire risk of any use made of this information. Neither Religare nor any of its affiliates, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Religare and its affiliates, officers, directors, and employees may from time to time, effect or have effected an own account transaction in, or deal as principal or agent in or for the securities mentioned in this document. They may perform or seek to perform investment banking or other services for, or solicit investment banking or act as advisor or lender / borrower to such company (ies) or have other potential conflict or interest with respect to any recommendation and related information and opinions. The recipient should take this into account before interpreting the document. This report is not directed or intended for distribution, publication, availability or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication availability or use would be contrary to law regulation or which would subject Religare and affiliates to any registration or licensing requirements within such jurisdiction, persons in whose possession this document comes, should inform themselves about and observes, any such restrictions. Copy right in this document vests exclusively with Religare. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose, without prior written permission from Religare. We do not guarantee the integrity of any e-mails or attached files and are not responsible for any changes made to them by any other person.
Religare Securities Ltd. – Amar Calibre, CTS 911, Ground Floor, BMCC Road, Shivaji Nagar, Pune:411004. Tel: 020-30240365, E-mail: [email protected] Website: www.religare.in 19, Nehru Place, New Delhi-110019. Tel: 91-11-55562200, Fax:91-11-55562277.
