RM

/363/0

7.0

7.2

014

ISO 9001:2008: Reliance Securities Limited holds a certificate issued by BSI Management System India Pvt. Ltd to the effect that it operates a Quality Management System that complies with the requirements of ISO 9001:2008 for providing equity & equity derivative trading services through online trading system. Investment in securities market is subject to market risk.Please read the risk disclosure document before investing. Reliance Securities is a distributor for MF, IPO, Bonds, NCDs and Corporate FDs Registered Office: Reliance Securities Limited, 11th Floor, R-Tech IT Park, Western Express Highway, Goregaon (East), Mumbai - 400063. Tel: +91 22 3320 1212, CIN: U65990MH2005PLC154052. (NSE - INB / INF / INE 231234833; BSE - INB / INF / INE 011234839; AMFI ARN No.29889).

1

From the desk of Business Head

Research Desk |

Reliance My Gold Plan | Mutual Fund Desk | Monthly Economic Calendar | Rgurukool Corner

Customer Service | Product of the Month | Currency Research Desk

Greasy June with Greece in focus;eventful month aheadDear Customer, coming in at 4.1% against the broad expected range of 1-1.5% and a

restrained CPI inflation at 5%, were amongst the key domestic factors, The month of June was a very volatile one for the Indian which aided sentiments. Further, only a modest increase in MSP is also stockmarket. Dictated considerably by short-term news flow, the good news for the food inflation to be kept under check. From the global Indian indices gyrated wildly in a 6 – 11% band depending upon front, a dovish Fed commentary supported equities as an asset class, which segment of the market one is looking at. Thus, while the which also benefitted the Indian stockmarket. Moreover, with China’s intra-month volatility in the Sensex was at 6.3%, the Small-cap stockmarket sliding nearly 25% during the second fortnight of June, index witnessed a 10.7% swing during the month. However, the seemingly provided some breathing space to Indian equities.Indian indices managed to close with significantly curtailed losses

as the Nifty, after witnessing a low of 7,940 during the month, Going forward, on the domestic front, the progress of monsoon will

ended much closer to the 8,400 mark, though down 0.8% for the continue to dictate short-term market sentiments. Also important is the

month. The CNX Mid-cap index lost 1.3% while the CNX Small-cap spatial distribution of monsoon going ahead, as sowing of crops takes

index ended lower by 4.3%. Sectorally, CNX PSU Bank index place in the months of July and August. Further, with earnings season

collapsed 8.6%, while the CNX Energy index stood out with a 4.8% round the corner once again, market participants may like to adopt a

rise. FIIs remained net sellers to the tune of about Rs5,480cr. In wait-and-watch approach considering the disappointing performance

fact, even in the recovery witnessed in the second half of June, FIIs delivered by India Inc. for 4QFY15. Apart from this, the next development

continued to offload Indian equities. on the Greece crisis could have a considerable impact on global investor

sentiments in the initial trading sessions of July depending upon which A confluence of factors had influenced sentiments in the Indian way the Greece story unfolds.stockmarket leading to the consequent weakness in the initial

fortnight of June. Thus, even though the RBI gave the market the However, during times of such volatility and global uncertainty, investors

much-expected 25bps rate cut at the beginning of last month, its must note that the market throws up some exciting opportunities.

cautious commentary with respect to further cuts had left the Moreover, with the Indian economy unlikely to get directly affected by the

market jittery. Moreover, IMDs downgrade of the monsoon forecast Greece crisis, even though equity, bond and currency volatility may

from 93% to 88% of the long-period average opened up the persist for some time, a prudent strategy would be to just have some

possibility of not just a sub-par monsoon for the second patience and take advantage of the opportunities that come by.

consecutive year but also raised the probability of inflation raising Yours Sincerelyits head if the supply-side chain is not managed well. Weakness in

global markets on the back of US economic contraction and the

Greek saga also contributed to investor risk-averseness initially.

Rajeev R. SrivastavaHowever, alleviation of fears later on account of the above average

Business Headperformance of the monsoon, coupled with the April IIP growth

July 2015

BUY – LIC HOUSING (CMP: Rs451)

LIC Housing witnessed a sharp sell-off in past few weeks from

Rs509 in February 2015 to a low of Rs389 in June 2015.

However, in recent weeks, the stock has created a good base

around Rs390, which also coincides with its 50-week EMA

(exponential moving average). The stock has bounced and

closed above its 20-week EMA placed around Rs450 last week.

In the near-term, the stock may consolidate between Rs450 to

Rs400 before resuming its up move towards level of Rs600.

MACD positive crossover and RSI above 50 indicate strength in

the stock. We recommend BUY on the stock in the range of

Rs450 and on dips with strict closing-based stop loss of

Rs389 and a Target Price of Rs598.

BUY – L&T (CMP: Rs1,807)

L&T rose to a three and a half months high post giving break-out

from its falling trend line and we believe it has the potential to visit

the upper band of its rising channel. The stock is trading above its

major moving averages and all of them are sloping upwards.

Rise in weekly RSI (14,9) from neutral zone and positive

crossover in weekly MACD (12,26,9) are also indicating strength

in the stock. Thus, fresh long position can be initiated in the

stock at the current level and on dips for a probable up move

towards Rs2,000 with a strict closing-based stop loss below

Rs1,700.

Technical View for the month

Technical Picks for the month

NIFTY (8,485)

The indices witnessed extremely sharp volatility in June 2015 with the Nifty registering a High and Low of 8,467 and 7,940 before finally ending with a loss of about 0.8% at 8,369 mark. Buying across the board in the second half of the month helped the Nifty to move close to 8,500 in early July. Thus, for the third consecutive month, the Nifty has created lower lows and lower highs.

We stand by our view that we have maintained over the past couple of months. On monthly chart, as mentioned earlier also, with negative cross-over on MACD and RSI, chances of sharp volatility in short-term is not ruled out. However, at the same time, since 2003, the month of July has given an average return of 2.9% with positive monthly close observed 9 times out of 12. The key levels to watch out in July will be the supports placed at 7,900 and then at 7,500. At the same time, now only a close above 8,650 has the potential to change the current trend.

Research Desk

2

Note: Strict stop loss is strongly advised.

Research Desk

Strike Rates – June 2015

Fundamental / Technical Calls Performance

Note: As on June 30, 2015; Source: Refer Daily Market Lens / LIVE Market Calls data

3

Some Fundamental Call updates:

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How to Invest online

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4

Research Desk

* Current Model Portfolio performance as on July 3, 2015

* Performance adjusted for Split (SBI) and Bonus (INFY)

Reliance Securities Model Portfolio Performance

Since inception in October 2011, the Reliance Securities

Model Portfolio has outperformed its benchmark (Sensex)

by ~41%!

Thus, while the Sensex has given a return of ~78% in this

period, the R-Model Portfolio has given a return of ~110%,

which is ~32% higher (in absolute terms) than Sensex

returns.

(a) Now you can view the Multiple Intraday charts in new version of Nest trader (3.11.3) Steps to view the

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Right click on the particular script

Click on Nest Intraday chart OR Click on Shift+ P for intraday chart

For Multiple charts Right click on the first chart –click on Scrip lock

Then select another script and Click on Shift +P Multiple charts will be open

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Help yourself Tips

For more information:

022-3988 6000, 2581 6000www.rsec.co.in

customer.support@rsec.co.in

Awareness Tip

Please do not share your Account Details with any one

Customer Service Team

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6

Product of the Month

STRATEGY BUILDER

Path: Login to Trading Portal – Trade Booster - Strategy

Currency Research Desk

Indian rupee edged higher slightly to surge positive note in the end of the month of June 2015 and rose higher around further

0.3% in the month of June against the month of May. However, the unit appreciated slightly during the whole month ahead of

the data of Reserve bank of India’s Interest Rate, Indian Industrial Price Index, Wholesale price Index Inflation.

The Reserve Bank of India has cut the repo rate by 25 basis

points for the third time this year.

This rate now stands at 7.25% after the cut during the second

bi-monthly policy review.

This move by the governor of the RBI, Raghuram Rajan, was

widely expected. But the 25 basis points cut have left those

who were hoping for a 50 basis points cut disappointed.

Industrial production grew at a two-month high of 4.1 percent in

April, primarily driven by the manufacturing sector, but capital

goods growth slowed. The factory output, measured by the

Index of Industrial Production (IIP), was 3.7 percent in April

2014. The industrial growth for March too has been revised

upwards to 2.5 percent from 2.1 percent

keeping a tight lid on its future intentions, the Federal Reserve

on Wednesday held interest rates steady at zero and provided only faint clues about when the first hike in nine years might

occur. Adhering to market expectations, the Fed's Open Market Committee voted essentially to maintain the status quo that

has prevailed since the US central bank first went to zero rates in late-2008. The Fed wants to "keep rates lower for longer,

but when it comes time to hike, hike faster. Keep rates low, but allow inflation pressures to build. Before they get out of hand,

hike rates faster to stop any inflation.

7Disclaimer: This report is prepared exclusively for Reliance Commodities. The information and opinions contained in the document have been compiled from sources believed to be reliable. Use of data and information contained in this report is at your own risk. This document is not, and should not be construed as, an offer to sell or solicitation to buy any commodity. Reliance Commodities Ltd. do not accept responsibility for any losses or damages arising either directly or indirectly from the use of this document.

Indian rupee subdued to narrow movement

The USDINR ended lower at 64.00 during the June month 2015 Down 0.3% as against 64.20 in the previous month. The

pair may find Major trend reversal support near 63.20 to 63.00 levels, as indicated by the upward Blue trend line and dotted

support line. While immediate support seen at the level of 63.15 followed to 62.85. Simple moving average of 14 and 21

days in weekly chart indicates subdued to upside level of 63.60 to 63.30 in the above chart. If INR sustains Above 63.60

levels that is above the moving average level may move drag rupee towards 64.50 followed by 65.00 as finding resistance

to upward blue resistance line. In the near term resistance may be seen at INR 64.70 which is previous highest level of the

last month as indicated in the above chart. 64.70 per dollar may be major resistance break out level while next resistance is

likely to be seen at 65.0 per Dollar which is seen in the range of blue line. As per technical chart, USDINR is still on upward

direction slightly as Indicated by Moving average of Conversion and Diversion (MACD) to move towards the level of 64.50

to 65.00 per dollar with a further expected trading range of 64.85 to 62.50 per. While any close above the level of 65.0 per

Dollar may drag to 67.20 levels per Dollar. While Among technical indicators, like MACD and Moving Average which may

see Dollar trading in the sideways to up above the level of 63.00 -62.50. While on higher side 64.50 to 65.0 levels which in

turn may be a selling opportunity in short term. Overall, near term scenario looks subdued between 64.80 to 62.90 levels

per dollar and it is advisable to adopt swing trading strategy likely to be buy in dips around the level of 63.10 to 62.70 and sell

on rise strategy in USDINR around the level of 64.80 – 65.0 with stop loss of 65.40 and expect corrections till 62.85-62.50

levels. Contrary to above view, any weekly close above INR 65.0 could change the trend with major upward bias that could

push the pair towards INR 66.25 to 67.50 levels. As such major down side fall not be expecting below the level of 62.50

followed by 62.10 per Dollar.

Technical Outlook

Disclaimer at the last page

Currency Research Desk

For more information:

Visit Our Branch

SMS <RSEC CD> to 53636022-3988 6000www.rsec.co.in

currency@rsec.co.in

8Disclaimer: This report is prepared exclusively for Reliance Commodities. The information and opinions contained in the document have been compiled from sources believed to be reliable. Use of data and information contained in this report is at your own risk. This document is not, and should not be construed as, an offer to sell or solicitation to buy any commodity. Reliance Commodities Ltd. do not accept responsibility for any losses or damages arising either directly or indirectly from the use of this document.

The process to obtain your gold coin(s)/ jewellery is as easy as it gets for customers of Reliance My Gold Plan. All you need to do

is follow the below mentioned steps:

i) As your tenure of subscription to the plan approaches maturity, you will receive a call from us intimating you of the same and

also informing you of the option of renewing your subscription to the plan.

ii) Once the tenure of your subscription has matured, the fulfillment process will be auto initiated on the next business day after

the last date of gold grams allotment.

iii) A maturity advice will be generated as per the fulfillment preference selected (default preference will be coin) and sent to you

at your registered e-mail id and registered postal address via e-mail & physical post respectively. If you want to fulfill in

jewellery, this needs to be communicated prior to maturity.

iv) The maturity advice will contain information with respect to the fulfillment related payments that you need to make - rounding

off charges, coin making charges (in case of coin fulfillment), delivery charges and applicable taxes.

v) There are various modes to make fulfillment related payments, which are described herein.

vi) Once the fulfillment payment is realized, delivery of gold coin(s) in sealed & tamper proof packaging will be done within 15

working days, in the case of coin fulfillment. You can also track the status of your gold coin(s) shipment on our website

(vii) In the case of jewellery fulfillment, a fulfillment voucher will be sent to you via courier which you can redeem at the

jewellery fulfillment partner mentioned on the voucher. You also need to present a valid photo identity proof when redeeming

in jewellery at the jewellery fulfillment partner.

How to Make Fulfillment Related Payments

Online

Just visit www.reliancemgp.com and click on “Fulfillment Payment” in the Fulfillment section. Authenticate yourself with your

Reliance My Gold Plan customer ID & Date of Birth OR e-mail ID OR Mobile number. Your payments due will be displayed and a

copy of the maturity advice can also be downloaded. Payment can then be done online via Credit Card, Debit Card or Net

Banking. Upon successful transaction, an acknowledgement receipt will be sent to your registered e-mail ID.

Cash

Itz Cash is the authorized cash collection partner for Reliance My Gold Plan. Just visit the nearest Itz Cash outlet and quote your

customer ID. The fulfillment amount due as per the maturity advice can then be paid in cash at the outlet. Itz Cash will charge a

flat convenience fee of Rs. 20/- plus tax irrespective of the amount. An acknowledgement receipt confirming your payment will

also be issued by Itz Cash. To locate your nearest Itz Cash outlet via SMS, just type RMGP <space> <your pin code> and send it

to 57575. An SMS reply containing details of the nearest Itz Cash outlet will be sent to you.

Cheque/DD

You can pay via cheque/DD favoring “Reliance My Gold Plan Customer ID XXXXXX” at the nearest CAMS branch. CAMS will

a l s o i s s u e a n a c k n o w l e d g e m e n t r e c e i p t u p o n r e c e i p t o f t h e c h e q u e / D D . P l e a s e v i s i t

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9

Equity mutual funds continued to gain traction in May as the Gilt funds received net inflows of Rs. 875 crore due to expectations category received net inflows of Rs. 10,076 crore (including ELSS). of a rate cut. The RBI cut repo rate by 25 basis points on June 2. Also, majority of the inflows came in existing funds. Existing funds There is an inverse relationship between the price of the G-Sec and received gross inflows of Rs. 12,263 crore while NFOs collected interest rates. A fall in the interest rate leads to a rise in the bond Rs. 1,250 crore. prices as well as the NAV of the gilt fund and vice-versa.

Investors continued to shun Gold ETFs due to its lackluster returns. Income funds saw net inflows of Rs. 4,205 crore in May. The AUM of The category saw net outflows of Rs. 86 crore in May. The AUM of income funds swelled to Rs. 5.22 lakh crore. Income funds Gold ETFs has fallen to Rs. 6,688 crore in May from Rs. 10,000 constitute 43% of the total Rs. 12.03 lakh AUM of the industry. crore levels in 2013. Liquid funds saw net outflows of Rs. 15,657 crore in May.

Overseas fund of funds saw net outflows of Rs. 38 crore. The The AUM of the industry crossed the Rs. 12 lakh crore mark again category has come in the limelight recently due to the falling rupee. in May. The industry had crossed Rs. 12 lakh crore mark in Overseas fund of funds currently manage Rs. 2,469 crore. February.

Mutual Fund Desk

Mutual Funds Update:

10

Data as on 1st June 2015

Data as on 1st June 2015

Recommended Mutual Fund Schemes (EQUITY FUNDS)

Debt Funds:

Scheme Name AUM(Cr.) 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years SD Beta Sharpe

Birla SL Frontline Equity Fund 9,208 2.63 -3.06 2.43 25.36 28.32 15.83 17.30 1.37 1.19

ICICI Pru Focused BlueChip Eq Fund 9,089 2.48 -3.52 0.45 23.05 24.89 16.29 15.76 1.25 1.13

Reliance Top 200 Fund 1,331 2.71 -2.71 1.88 31.81 27.61 16.38 23.42 1.77 0.91

S&P BSE 100 2.58 -5.10 -0.93 16.12 20.69 10.70

Franklin India Flexi Cap Fund 2,669 3.76 0.64 6.63 35.62 30.64 17.55 23.15 1.77 0.92

HDFC Equity Fund 18,165 2.00 -2.19 -2.98 19.96 25.15 14.58 26.09 2.01 0.77

ICICI Pru Dynamic Plan 5,970 2.08 -3.40 0.75 19.53 23.96 14.77 17.05 1.26 1.09

S&P BSE 500 2.93 -3.88 0.75 19.48 21.25 10.59

HDFC Mid-Cap Opportunities Fund 10,220 3.92 2.31 7.27 41.98 35.18 23.04 31.62 2.34 0.91

ICICI Pru Value Discovery Fund 9,631 3.08 0.02 8.76 39.66 35.33 21.58 32.43 2.41 0.96

Reliance Equity Opportunities Fund 11,650 3.84 -2.39 1.48 33.23 29.07 19.67 25.36 1.86 0.95

Franklin India Smaller Cos Fund 2,273 2.52 1.25 9.46 49.95 44.27 24.58 34.66 2.62 1.09

S&P BSE Mid-Cap 2.84 -0.91 4.38 26.35 22.54 9.69

RiskReturn Ratio

Absolute CAGR Volatility(3Years)

Scheme Name AUM 1 3 6 1 3 5 YTM Avg. Maturity Modified (in Crs) Month Months Months Year Years Years (%) Year Duration Years

Birla SL Cash Plus 22,298 0.73 2.22 4.35 8.91 9.20 72.58 8.41 0.00 0.09

HDFC Cash Mgmt-Savings 9,246 0.73 2.19 4.31 8.86 9.10 8.82 8.17 0.09 0.09

Crisil Liquid Fund Index 0.73 2.19 4.26 8.81 8.86 8.43

Birla SL Dynamic Bond Fund 14,439 0.60 1.67 5.74 13.15 10.50 9.52 8.54 0.00 4.35

Franklin India ST Income Plan 10,998 0.85 2.21 4.73 11.07 10.31 9.28 10.63 2.58 2.33

Crisil Short Term Bond Fund Index 0.76 2.22 4.53 9.85 9.34 8.40

ICICI Pru Regular Savings 5,398 0.87 2.14 4.60 10.27 9.45 10.30 2.85 2.06

Reliance Reg Savings Fund-Debt Plan 5,625 0.89 2.29 4.46 10.23 9.68 8.59 10.04 2.33 1.82

Crisil Composite Bond Fund Index 0.66 1.58 4.86 12.23 9.10 8.05

Mutual Fund Desk

Recommended Model Portfolios by Mutual Fund Team

Source: Morningstar, Ace MF

customer.support@rsec.co.in

For more information:

Visit Our BranchSMS <RSEC MF> to 53636022-3988 6000

Step 1: https://trade.rsec.co.in/

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11

Mutual Fund Schemes Scheme Theme Aggressive % Moderate% Conservative%

Reliance Equity Opportunities Fund Diversified 15% 15% 5%

HDFC Equity Fund Diversified 15% 10% 5%

Birla SL Frontline Equity Fund Large cap 15% 10% 10%

ICICI Pru Focused Bluechip Fund Large cap 10% 10% 5%

ICICI Pru Value Discovery Fund Mid cap 10% 5% Nil

HDFC Mid Cap Opportunity Fund Mid cap 10% Nil Nil

Templeton India ST Income Fund Short term income Nil 10% 15%

Reliance RSF - Debt Plan Long term income 5% 5% 15%

Birla Sun Life Dynamic Bond Fund Medium Term Income 10% 10% 15%

1 Year FMP Short term FMP Nil 10% 15%

HDFC Cash Mgmt Fund-Savings Liquid 5% 10% 10%

Gold Fund Gold Fund 5% 5% 5%

EQUITY 75% 50% 25%

DEBT 25% 50% 75%

Total 100% 100% 100%

Disclaimer:

For further information please contact:

Registered Office: Reliance Securities Limited, 11th Floor, R-Tech IT Park, Western Express Highway, Goregaon (East), Mumbai - 400063. Tel: +91 22 3320 1212.

This document is meant for the customers of Reliance Securities Limited only. In case you are a non resident, please note that you need to comply with the relevant local laws of the country of your residence, before investing. Mutual Funds and securities investments are subject to market risks, and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the Net Asset Value (NAV) of the Units issued by Mutual Fund Schemes can go up or down depending on the factors and forces affecting the securities market. There are no assurances or guarantees that the objectives of any of the mutual fund schemes will be achieved. The investments may not be suited to all categories of investors. Please read the Scheme Information Document and Statement of Additional Information of the respective mutual fund carefully before investing.The views herein constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the readers. This information is meant for general reading purpose only and is not meant to serve as a professional investment guide for the readers. This document has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Reliance Securities Limited (RSL) or its directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information. Due care has been taken to ensure that the disclosures and opinions given fair and reasonable. No action has been solicited based upon the information provided herein, and the information is not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Recipients of this information should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed investment decision before making any investments. None of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information contained in this material. RSL, the directors, employees, affiliates or representatives of RSL, associate companies, affiliates, and representatives including persons involved in the preparation or issuance of this material may from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies) / specific economic sectors / mutual funds, if mentioned herein.

Reliance Securities Limited,

Corporate Fixed Deposits

Corporate Fixed Deposits

How to choose a good Corporate FD Scheme?

are Fixed Deposits placed by investors with companies for a fixed term carrying a prescribed rate of interest. The

companies in turn use these funds to fulfill their capital requirement from time to time.

Corporate FDs are attractive investment avenue for conservative investors who do not want to take the risk of vagaries of stock market.

Corporate FDs also offer higher interest rates than normal bank FDs.

However unlike Bank FDs your investment in Corporate FD is not guaranteed by Govt of India or RBI or by any government sponsored

agencies.

Ignore the un rated Company Deposit Schemes: Chose only AA+ and above rated FD issuing corporate .Within a given rating grade, choose

the company with a better reputation. It is better to make shorter deposit of around 1 year to 3 years check on the servicing standards of the

company before investing. Based on our research, we recommend the following Corporate FDs to suit your requirements.

12

Name of the Company Minimum Amount Senior Citizen Credit Rating (Interest rate %) ( Period in Months)

Shriram Transport Finance Company Ltd (Shriram Unnati FD Scheme ) 12 24 36-60 Frequency

8.88 9.34 10.03 - Monthly

9.25 9.75 10.50 - Yearly

25,000 0.25 FAA+ & MAA+ 9.05 9.52 10.24 - Half Yearly

8.95 9.41 10.11 - Quarterly

9.25 9.75 10.50 - Cumulative

Mahindra & Mahindra Finance Services Ltd 12 18 24 36/48-60 Frequency

10,000 FAAA 9.25 9.50 9.75 10.00/9.50 Cumalative

25,000 0.25 9.00 N/A 9.75 10.00/9.50 Half Yearly

50,000 8.90 N/A 9.65 9.90/9.40 Quarterly

48-60

For more information:

Step 1: https://trade.rsec.co.in/

Step 2: Select Investment Offering > Corporate FD > Choose a FD of your choice

How to Invest online in Corporate FDs

Disclaimer at the last page

customer.support@rsec.co.inVisit Our BranchSMS <RSEC MF> to 53636022-3988 6000

Monthly Economic Calendar

13

SMS <RSEC RGURU> to 53636022-3988 6000 Visit Our Branch

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Stock Support and Resistance Levels for Trading

CORNER

14

Stock Support and Resistance Levels for TradingThe concepts of support and resistance are undoubtedly two of the most highly discussed attributes of technical analysis and they are

often regarded as a subject that is complex by those who are just learning to trade. This article will attempt to clarify the complexity

surrounding these concepts by focusing on the basics of what traders need to know. You'll learn that these terms are used by traders to

refer to price levels on charts that tend to act as barriers from preventing the price of an asset from getting pushed in a certain direction.

A support level is the price at which buyers are expected to enter the market in

sufficient numbers to take control from sellers.

The market has a memory. When price falls to a new Low and then rallies, buyers

who missed out on the first trough will be inclined to buy if price returns to that level.

Afraid of missing out for a second time, they may enter the market in sufficient

numbers to take control from sellers. The result is a rally, reinforcing perceptions

that price is unlikely to fall further and creating a support level.

A resistance level is the price level at which sellers are expected to enter the

market in sufficient numbers to take control from buyers.

When price makes a new High and then retreats, sellers who missed the previous

peak will be inclined to sell when price returns to that level. Afraid of missing out a

second time, they may enter the market in numbers sufficient to overwhelm

buyers. The resulting correction will reinforce market perceptions that price is

unlikely to move higher and establish a resistance level.

Support levels, once penetrated, frequently become resistance levels and vice

versa.

The market logic is fairly simple: buyers who purchase near a support level, only to

see price fall, are likely to sell in order to recover their losses, when price rallies to

near their break-even point. The support level then becomes a resistance level.

Likewise, stockholders who sell when price approaches a resistance level will be

disappointed if price penetrates the level and continues to rise. They will be

inclined to buy if price returns to near the support level, fearing that they may miss

out a second time. The resistance level thus becomes entrenched as a support

level.

There are different ways to derive the support & Resistance Levels like Pivots,

Fibonacci, Trend lines, Gann, etc. which will be covered in the upcoming months

Support

Resistance

Role Reversal

General Disclaimers:

Risks:

Disclaimers in respect of jurisdiction:

Disclosure of Interest:

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General Disclaimers

15

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