Post on 06-Apr-2018
8/3/2019 MT-Daily Equity Morning Update 27 Dec 2011
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27th
Dec, 2011
MARKET REVIEW & OUTLOOK
[DAILY REPORT ]
8/3/2019 MT-Daily Equity Morning Update 27 Dec 2011
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DAILY REPORT
C o n t a c t : + 9 1 2 2 6 7 4 1 5 4 4 3
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INDEX REVIEW & OUTLOOK
Open High Low Close Change(Pts) Change(%) 8EMA 34EMA 200EMA
4718.15 4787.25 4718.15 4779 65 1.38 4725 4852 5294
The NIFTY opened on a positive note and registered an intraday high of 4787
levels. The Index witnessed sideways consolidation from the higher level which led
it to decline to an intraday low of 4718. From there on the nifty reboundedstrongly and finally closed at 4779 with a gain of 65 points.
The index has pulled back from its near term moving average and once again
made a higher top higher bottom indicating that the trend is still intact. Going
forward NIFTY can retrace up to its 50% level (starting from the highs of 5099.25
to the lows of 4555). Closing above 4830 levels, the NIFTY could head towards the
declining trend line place around 4900 levels.
In case Nifty finds supply pressure from the levels of 4830 then it has an immediate
support at 47604730 / 4700 levels (as cluster of averages and retracement levels
are placed in the above mentioned range)
8/3/2019 MT-Daily Equity Morning Update 27 Dec 2011
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DAILY REPORT
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TOP TRADES TO WATCH OUT FOR:-
Tata Steel Limited CMP` 357 .75
CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA
357.75 737 340.6 350 342 368 376 359 390 517
After going through a steep price correction in the last two months, the stock price
now seems to be making attempts for a meaningful rebound. The stock price has
managed to close above its near term moving average and is poised for some
upside action in the next few sessions.
Traders can go long at CMP with a SL placed below `347.80 for a target of `370/` 380 levels.
Sun TV Network Limited CMP` 292.40
CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA
292.40 556.90 214.10 284 278 302 315 278.5 273 331.5
The stock price of Sun TV Network Limited has been trading within the range of
cluster of moving averages. The stock has registered a breakout from its midterm
moving average. The momentum indicators are rolling upward indicating more
upside for the stock
We advice traders to go long at current levels and again on dip up to `285--`288
wit h a stop loss placed below ` 280.8 for the targets of ` 308 / ` 320.
8/3/2019 MT-Daily Equity Morning Update 27 Dec 2011
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DAILY REPORT
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Disc laimer
This document has been prepared by Mitesh Thacker. This document does not constitute an offer or solicitation for the purchase or
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