Spinning tops near crucial retracement

For April 13, 2015
A Sharekhan technical research newsletter
Punter’s Call
Spinning tops near crucial retracement
Market on April 10, 2015: Support @ 8700
Nifty daily: 8780
9200
9150
The Nifty closed almost flat today and missed 8800 again.
It has formed a spinning top candlestick pattern at these
levels for two days in a row. It had formed a hanging
man candlestick pattern yesterday whereas it made a
Harami candlestick pattern today. This clearly indicates
that bulls are exhausted at these levels. So only a break
above 8800 will bring back the upward momentum. The
hourly Know Sure Thing is still in sell mode which clearly
indicates that the bulls are under pressure. However,
8700 and below that 8682 are very crucial levels and till
these levels are held the short-term trend shall remain
up. Right now the target is 8800 but it will be revised
once the levels mentioned above are taken off. The Bank
Nifty is facing resistance near the neckline of the bearish
head-and-shoulders pattern which is a cause for concern.
Hence, the medium-term trend will shift from down to
up only above 19100. This has been a consecutive second
weekly positive close, so the bulls do have a chance
from hereon. The Nifty is still holding the upward sloping
parallel channel which is also a positive sign for the
bulls.
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
6
5
4
3
2
1
0
-1
-2
-3
KST (1.38198)
5
2015
12
19
27
2
February
9
16
23
2
March
9
16
23
30
6
April
13
20
2
60-minute
9150
100.0%
9100
9050
9000
8950
8900
8850
8800
61.8%
8750
8700
50.0%
8650
8600
38.2%
8550
8500
23.6%
8450
8400
Other technical observations
8350
8300
0.0%
On the daily chart the index is trading above the 20-day
moving average (DMA) and the 40-DMA, ie 8606 and 8648
respectively. The momentum indicator is trading in
positive mode on the daily chart.
On the hourly chart, the Nifty is trading above the 20hour moving average (HMA) and the 40-HMA, ie 8739
and 8681 respectively, which are crucial intra-day levels.
The hourly momentum indicator has turned negative.
The market breadth was positive with 930 advances and
591 declines on the National Stock Exchange.
8250
8200
KST (0.39041)
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5
5
26
27
28
2
3
March
4
5
9
10
11
12
13
16
17
18
19
20
23
24
25
26
27
30
31
1
6
April
7
8
9
10
11
1
Market breadth
BSE
NSE
Advances
1644
930
Decline
1171
591
123
55
4,102 cr
18,290 cr
Unchanged
Volume (Rs)
For Private Circulation only
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Looking Trendy
Short Term Trend
Index
Target
Sensex
29000
Trend
8794
u
u
Index
Target
Trend
Sensex
26800
Nifty
Reversal
Support / Resistance
Down below 28550
28550/29000
Down below 8680
8680/8794
Medium Term Trend
Nifty
u
u
8180
u
u
Up
Reversal
Support / Resistance
Up above 28980
26800/28980
Up above 8789
8180/8789
Icon guide
Down
Upswing matures
Downswing matures
Trendy Levels for Tomorrow
Sensex
Support
Nifty
Resistance
28772
28964
18800
19300
28583
29172
18693
19700
28526
29333
18182
20062
20DSMA
40DEMA
20DSMA
40DEMA
28351
28526
20390
19941
BSE Sensex: 28,879
BSE Sensex: 19013
For Private Circulation only
Eagle Eye
2
Support
Resistance
8739
5700
8700
5616
8681
5514
20DSMA
20DSMA
8606
6096
8800
5847
8855
5993
8943
6078
40DEMA
40DEMA
8648
5958
April 13, 2015
Nifty: 8,780
Nifty: 5705
Home
Smart Charts
Date
Recommendation
Action
10-Apr-15
9-Apr-15
9-Apr-15
8-Apr-15
8-Apr-15
7-Apr-15
TVS Motors Apr Fut
Jsw steel Apr Fut
CESC Apr Fut
IRB Infra Apr Fut
RCOM Apr Fut
OFSS Apr Fut
Buy
Buy
Sell
Buy
Buy
Buy
Stop Loss/
Reversal
(Intra-day)
Stop Loss/
Reversal
DCL
249.00
921.00
628.00
250.00
62.80
3,261.00
Buy/Sell
Price
259.40
958.30
609.25
268.65
61.90
3,389.00
Closing Potential %
Price P/L at CMP
(CMP)
258.00
953.95
601.90
260.80
71.90
3,374.00
-0.54%
-0.45%
1.21%
-2.92%
16.16%
-0.44%
Target1 Target 2
280.00
977.00
560.00
290.00
68.00
3,590.00
290.00
1,017.00
547.00
305.00
77.00
3,640.00
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
10-Apr-15
PTC Apr Fut
Action
Buy
Stop loss
Price
78.20
Closing
price
P/L at CMP
79.35
-0.06%
79.40
Potential %
Target1
Target2
81.00
82.70
10-Apr-15
Ultratech Cem Apr Fut
Buy
2,955.00
3,008.75
2,989.85
-0.63%
3,102.00
3,130.00
10-Apr-15
M & M Apr Fut
Buy
1,262.00
1,284.20
1,288.50
0.33%
1,309.00
1,375.00
8-Apr-15
Cairn India Apr Fut
Buy
218.00
224.10
224.80
0.31%
234.00
241.00
8-Apr-15
HCLTECH Apr Fut
Buy
Exit
958.50
959.75
0.13%
975.00
987.00
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
Momentum Cash Ideas
For the short term—1 to 10 days
Action
Date
Stock
Action
Stop loss
price
Price
Closing
Potential %
P/L at CMP
Target1
Target2
10-Apr-15
Aban
Buy
450.00
462.75
457.50
-1.13%
475.00
490.00
10-Apr-15
Ramco Ind
Buy
Book Profit
71.25
75.00
5.26%
75.00
76.50
10-Apr-15
Bindal Agro
Buy
22.85
23.65
24.40
3.17%
25.50
26.50
8-Apr-15
Castrol India
Buy
459.00
468.80
469.25
0.10%
486.00
496.00
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
For Private Circulation only
Eagle Eye
3
April 13, 2015
Home
Short specific
Term Trend
Stock
ideas
- CNX BANK INDEX - 1 MONTH (18,910.00, 18,968.00, 18,809.00, 18,859.00, -102.900)
Bank Nifty
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
17400
17300
KST (0.13490)
Support: 18687/18475
Resistance: 18985/19100
5
0
-5
15
22
29
5
2015
12
19
27
2
9
February
16
23
2
9
March
16
23
30
6
April
13
20
2
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 (%)
09-04-15
GVKPIL
Buy
Cash
-
9.00
9.65
9.70
0.52%
11.00
13.00
-
08-04-15
IOC
Buy
Cash
-
370.00
382.90
375.05
-2.05%
405.00
425.00
-
*DCL
# CMP
^Intra-day
For Private Circulation only
Tgt. = Target
Rwd. = Reward
Eagle Eye
4
April 13, 2015
Home
Day Trader’s Hit List
For April 13, 2015
Scrip Name
NIFTY Futures
Support Levels
S2
S1
Close
(Rs)
Resistance Levels
R1
R2
Action
8723.0
8771.0
8805.0
8823.0
8883.0
Go Long AboveR1
Bank Nifty Futures 18671.0
18800.0
18840.0
18985.0
19427.0
Go Long AboveR1
565.0
568.1
577.0
587.0
Go Long AboveR1
Axis Bank
555.0
BHEL
220.0
232.0
234.6
237.3
243.0
Go Long AboveR1 / Go Short Below s1
DLF
151.0
156.0
158.4
162.0
168.4
Go Long AboveR1
Hindalco
133.5
136.6
137.9
141.0
144.0
Go Long AboveR1 / Go Short Below s1
ICICI Bank
314.5
317.2
318.3
321.7
328.0
Go Long AboveR1
25.3
26.0
26.3
26.7
27.7
Go Long AboveR1
1710.0
1750.0
1764.0
1778.0
1800.0
Go Long AboveR1
881.0
888.0
904.4
909.0
924.0
Go Long AboveR1
Jai Prakash
LNT
Reliance Industries
SBI
280.0
283.0
285.8
287.4
292.0
Go Long AboveR1
Tata Motors
552.0
555.0
562.7
573.5
591.0
Go Long AboveR1
Tata Power
TISCO
TCS
77.2
78.0
78.9
79.6
82.0
Go Long AboveR1
335.0
341.0
342.7
349.0
364.0
Go Long AboveR1
2594.0
2628.0
2653.8
2687.0
2715.0
Go Long AboveR1
*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 13, 2015
Home
Trading Rationale
Smart Charts
KST (-5.73296)
15
10
5
TVS Motors: Buy
0
-5
-10
-15
TVS MOTOR (251.000, 256.000, 251.000, 253.100, +2.50000)
CMP: Rs259.40
340
335
330
325
320
315
310
305
300
295
290
285
280
275
270
265
260
255
250
Buy TVS Motors at the current market price of Rs259.40,
with the stoploss of Rs249 for the targets of Rs280 and Rs290.
The stock has taken support near the lower end of the falling
channel as well as near 40-week exponential moving average.
The daily momentum indicator is turning in favor of the
bulls.
245
240
235
230
225
220
70000
60000
50000
40000
30000
20000
x100
1
8
Decem ber
15
22
29
5
2015
12
19
27
2
9
February
16
23
2
9
March
16
23
30
6
April
13
20
2
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Eagle Eye
6
April 13, 2015
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