NIFTY SENSEX BANK NIFTY HIGH 6209 20863 11216 LOW 6150 20674 11108 8951 8864 Thursday, December 05, 2013 CNX IT CNXNIFTY(6161): CNXNiftywentontomaketheBEARISHBUTTERFLYharmonicpatternondailychartsfollowedbyaBearishHaramicandlestickpatternonTuesdayandgaveinon Wednesday.Nowtheindexhassupportat6114-6100levelsonthedownside.Fortheday,theindexholdingonto6140cantarget6200againontheupside.Failingtoholdontotheall important 6140 levels can trigger a freshround of selling towards 6080 or even 6040 levels. The implications of the said harmonic pattern could be relatively negative as lower levels like6040arenowvulnerabletobetestedifcurrentlevelsarenotheldas weapproachtheoutcomeofelectionswhichwillbeoutthisSunday.Exitpolldatasuggeststhattherewillbea gap up opening today and the gap is likely to sustain ahead of the final election results. FROM THE RETAIL RESEARCH DESK MARKET OUTLOOK CNX NIFTY COMMENTS PIVOT TABLE S&P BSE~SENSEX SENSEX (20709) : BSE Sensex closed lower on Wednesday by close to 150 odd points. Now the index is at a critical juncture with cluster of supports around 20600-20550 region. IF the index doesn’t fall below 20600 today ,and crosses 20810 on the upside only then a rally towards 20900-21000 can be seen in the index. On the flip side if the index doesn’t cross 20810 and drifts below20600thensomemoreprofittakingtill20500-20400canbewitnessed on the downside. LOW 6150 20674 11108 CLOSE 6161 20729 11195 PIVOT 6173 20755 11173 R 1 6197 20837 11238 R 2 6233 20945 11281 S 1 6138 20647 11130 S 2 6114 20566 11065 8864 8882 8899 8934 8985 8848 8813
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S&P BSE~SENSEX PIVOT TABLE Morning T… · SENSEX NIFTY Tata power TOP OUTPERFORMERS Tata Elxsi Ltd ITC DLF Thursday, December 05, 2013 Jindal Steel 18.86 ASIAN INDICES Whirlpool
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NIFTY SENSEX BANK NIFTY
HIGH 6209 20863 11216
LOW 6150 20674 11108
8951
8864
Thursday, December 05, 2013
CNX IT
CNX NIFTY (6161) : CNX Nifty went on to make the BEARISH BUTTERFLY harmonic pattern on daily charts followed by a Bearish Harami candle stick pattern on Tuesday and gave in on
Wednesday. Now the index has support at 6114-6100 levels on the down side. For the day , the index holding onto 6140 can target 6200 again on the upside. Failing to hold onto the all
important 6140 levels can trigger a fresh round of selling towards 6080 or even 6040 levels. The implications of the said harmonic pattern could be relatively negative as lower levels
like 6040 are now vulnerable to be tested if current levels are not held as we approach the outcome of elections which will be out this Sunday. Exit poll data suggests that there will be a
gap up opening today and the gap is likely to sustain ahead of the final election results.
FROM THE RETAIL RESEARCH DESKMARKET OUTLOOK
CNX NIFTY COMMENTS
PIVOT TABLES&P BSE~SENSEX
SENSEX (20709) : BSE Sensex closed lower on Wednesday by close to 150
odd points. Now the index is at a critical juncture with cluster of supports
around 20600-20550 region. IF the index doesn’t fall below 20600 today ,and
crosses 20810 on the upside only then a rally towards 20900-21000 can be
seen in the index. On the flip side if the index doesn’t cross 20810 and drifts
below 20600 then some more profit taking till 20500-20400 can be witnessed
on the downside.
LOW 6150 20674 11108
CLOSE 6161 20729 11195
PIVOT 6173 20755 11173
R 1 6197 20837 11238
R 2 6233 20945 11281
S 1 6138 20647 11130
S 2 6114 20566 11065
8864
8882
8899
8934
8985
8848
8813
Thursday, December 05, 2013
BUY GLAXO SMITHKLINE CONSUMER
EXECUTION PRICE RANGE
4590-4630
BUY CUMMINS INDIA
442-446
EXECUTION PRICE RANGE
4518.00
TARGET
TARGET
TECHNICAL CALLS
464.00
STOP LOSS
BUY CUMMINS INDIA Rs.444 : Cummins has been flirting around
its 200 DMA levels and now the stock looks to regain strength
from its recent profit taking which has come with low volumes
which is a sign of a potential reversal coming up soon. The stock
is trading above most major moving averages like the 20 DMA at
418 and the 50 DMA at 410 which suggests overall strength.
STOP LOSS
BUY GLAXO SMITHKLINE CONSUMER Rs.4652 : GLAXO
SMITHKLINE CONSUMER has been making higher lows and
closing higher successively for the last five trading sessions and
it has also seen good volume accumulation at these levels. The
stock is trading above all major moving averages and now looks
Trend is the level at which the tendency of stocks can be identified. For best results, you can use the 'trender' to trade. A 'weak' trend denoted by “DOWN” means that traders can trade with a negative bias. If the trend is 'strong',denoted by “UP”, one can trade with a positive bias on the long side. Base price should be the pivot point price.
IF THE TREND IS UP
CLOSING PRICESClosing price is the price at which scrip closes on the date mentioned in the report. Traders may initiate their intraday trade on this level. The stock or index should sustain above or below the pivot else you should exit the trade.
TREND
TRENDER + : This is a broad based technical trend of the stock prevailant, may or may not be necessarily for the day.
Ideally, for a sell position, sell at the pivot point and use R1 as a stop loss and S2 or lower levels as a target level.
IF THE TREND IS DOWN
Ideally, for a buy position, buy at the pivot point and use S1 as the stop loss for a target of levels around R2 and higher.
THE TREND AND THE DAILY PROJECTED RANGE IS BASED ON CERTAIN SIMPLE CALCULATIONS WHICH IS PROVIDED BY BLOOMBERG, EXCLUSIVELY USED BY
DAILY PROJECTED RANGE : Projected Daily high and low are indicative range for the day, if the price moves out of the range the trend in that side may accelerate and turn bullish or bearish.
THE TREND AND THE DAILY PROJECTED RANGE IS BASED ON CERTAIN SIMPLE CALCULATIONS WHICH IS PROVIDED BY BLOOMBERG, EXCLUSIVELY USED BY ANAND RATHI ~ RETAIL RESEARCH.
Disclaimer:-Thisreport has been issued by Anand Rathi Share and Stock Brokers Limited (ARSSBL), which is regulated by SEBI. The informationherein was obtained from various sources; we do not guarantee its accuracy or completeness. Neither the information nor
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