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(equities) June 19, 2008 6:00am IST
Visit us at www.sharekhan.com
Punter’s Call
Dark Cloud Cover Markets on Jun 18: Breakout below the converging trend lines
The Sensex opened on a positive note and crossed yesterday's high in the initial hour of trading itself. However, it went down thereafter making new lows and did not took support even at 40 HEMA. The index finally ended the session with a loss of 275 points. On candlestick charts, the Sensex has formed a Dark Cloud Cover pattern, which indicates a bearish trend. After yesterday’s close above the upper line of the bearish channel, Nifty again came inside that channel and gave a negative close, which is a sign of worry for the bulls. On the hourly chart, our previous converging trend lines today got broken on downside, which is again not a good sign for bulls. Nifty diverged southwards facing resistance of 20 DSMA, which is not an exciting sign. The levels to watch out for tomorrow are 4,525 on downside and 4,680 on upside. Bears with 702 declines and only 510 advances dominated the market breadth.
Nifty chart: 4,582
60 minute chart
On the hourly chart, the momentum indicator KST gave a negative crossover, which is a sign of bears dominating the market for coming days. Our short-term bias is revised downwards for the target of 4,425 with the reversal at 4,680. However our mid-term bias is down for the target 4,270 with the reversal pegged at 4,960. All sectors except the two--FMCG and automobile--ended in red. Sectors that were knocked the worst were realty, banking and information technology. The index stocks that were sinking in red were ICICI Bank, HDFC Bank and Tata Steel. Market Breadth BSE
NSE
Advances
1,254
506
Declines
1,402
705
75
25
6,176cr
12,338cr
Unchanged Volume (Rs)
For Private Circulation only Sharekhan Ltd A-206, Phoenix House, 2nd Floor, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, India.
Short Term Trend Target Sensex
14800
Nifty
4425
Trend
Reversal
Support/Resistance
Up above 15800
14900 / 15800
Up above 4680
4450 / 4680
Medium Term Trend Target Sensex
14200
Nifty
4270
Trend
Up
Reversal
Support/Resistance
Up above 16700
14500 / 16500
Up above 4960
4340 / 4900
Icon guide Down
Downswing matures
Upswing matures
Trendy Levels Sensex Support
Nifty Resistance
15300 18800 19300 15550 15140 15700 18693 19700 15000 15800 18182 20062 20DSMA 40DEMA 20DSMA 40DEMA 15819 16120 20390 19941 BSE Sensex: 15,422 BSE Sensex: 19013
For Private Circulation only
Eagle Eye
Support
Resistance
4550 5700 4490 5616 4425 5514 20DSMA 20DSMA 4700 6096
4620 5847 4680 5993 4730 6078 40DEMA 40DEMA 4795 5958 Nifty: 4,582 Nifty: 5705
2
June 19, 2008
Home
Next
Smart Charts Date
Recommendation
Action
Stop Loss/ Reversal (Intra-day)
Stop Loss/ Reversal DCL
Buy/Sell Price
Closing Price (CMP)
Potential % P/L at CMP
Targets
17-06-08
Acc
Buy
-
593.7
636.0
643.2
1%
690-749
22-05-08
India Cement
Buy
149.0
-
176.0
164.0
-7%
190-210
21-05-08
IFCI
Buy
54.7
-
66.0
55.3
-16%
72-78
21-05-08
Praj Industries
Buy
164.0
-
205.0
191.7
-6%
240-270
NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing basis unless specified. TPB: Trailing profit booked
Momentum Calls For the short term—1 to 5 days
Stock
Action
Action date
Stop loss
Price
Closing price
Target1
Target2
Cairn India
Buy
18-06-08
Stopped out
283.0
277.0
289.0
295.0
Praj Industries
Buy
18-06-08
Stopped out
203.5
199.0
207.0
212.0
Tata Steel
Sell
18-06-08
838.1
842.5
822.6
821.0
800.0
Guj Alkali
Buy
18-06-08
Stopped out
194.0
189.0
200.0
205.0
ICICI Bank
Sell
18-06-08
Profit Booked
809.0
770.0
790.0
770.0
Satyam Computer
Sell
18-06-08
Book Profit
481.0
475.0
475.0
470.0
Grasim
Buy
18-06-08
Exit
2,212.0
2,230.0
2,265.0
2,320.0
JP Hydro
Buy
18-06-08
TPB
59.4
60.2
61.0
63.0
ACC
Buy
18-06-08
Book Profit
644.0
667.0
659.0
679.0
Rajesh Export
Sell
17-06-08
Stopped out
87.0
89.1
85.0
83.0
Lanco Infra
Buy
17-06-08
Book Profit
383.0
394.0
390.0
396.0
Power Grid
Buy
17-06-08
Book Profit
90.2
92.0
93.0
96.0
LIC Housing
Buy
17-06-08
Book Profit
304.0
310.0
310.0
316
Ranbaxy Lab
Sell
16-06-08
Stopped out
571.0
583.0
559.0
547.0
Reliance Industries
Buy
16-06-08
TPB
2,314.0
2,309.0
2,350.0
2,400.0
Hind Oil
Buy
13-06-08
Book Profit
130.0
138.0
135.0
139.0
Tata Power
Sell
13-06-08
Stopped out
1,277.0
1,302.0
1,255.0
1,230.0
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.
For Private Circulation only
Eagle Eye
3
June 19, 2008
Home
Next
Day Trader’s HIT List For June 19, 2008 Scrip Name NIFTY Futures
Support Levels S1 S2 4500
4540
Close (Rs) 4566.0
Resistance Levels R2 R1
Action
4590
Sell below S2.
4630
................................................................................................................................................................................................................
Adlabs Film
545
561
567.5
574
583
Sell on rise to R2/Sell below S2.
................................................................................................................................................................................................................
Century Text
580
590
605.9
616
632
Buy on decline at S2.
................................................................................................................................................................................................................
DLF
472
487
492.3
504
513
Sell below S2.
................................................................................................................................................................................................................
HUL
227
232
234.8
237
242
Sell on rise to R2.
................................................................................................................................................................................................................
ICICI Bank
751
778
785.0
797
817
Sell below S2.
................................................................................................................................................................................................................
Infosys
1820
1839
1866.0
1881
1902
Sell on rise to R2.
................................................................................................................................................................................................................
J P Associates
172
177
182.0
184
187
Sell below S2.
................................................................................................................................................................................................................
Maruti
747
755
765.0
780
790
Buy on decline to S2/Buy above R2.
................................................................................................................................................................................................................
Reliance
2200
2260
2283.0
2301
2330
Sell below S2.
................................................................................................................................................................................................................
Reliance Capital
1070
1110
1144.0
1152
1171
Sell below S2.
................................................................................................................................................................................................................
Reliance Comm
509
525
528.0
536
543
Sell below S2.
................................................................................................................................................................................................................
SAIL
156
159
162.0
164
167
Sell below S2.
................................................................................................................................................................................................................
Satyam
450
466
472.5
474
481
Sell below S2.
................................................................................................................................................................................................................
SBI
1310
1340
1345.0
1360
1370
Sell below S2.
................................................................................................................................................................................................................
Tata Motors
500
507
517.0
520
524
Sell below S2.
................................................................................................................................................................................................................
Tata Steel
806
817
822.6
830
837
Sell below S2.
................................................................................................................................................................................................................
*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
To know more about our products and services click here. For Private Circulation only
Home
Disclaimer “This document has been prepared by Sharekhan Ltd.(SHAREKHAN) This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, 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 SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.”
For Private Circulation only
Eagle Eye
4
June 19, 2008
Home
Next
Visit us at www.sharekhan.com
Punter’s Call
Dark Cloud Cover Markets on Jun 18: Breakout below the converging trend lines
The Sensex opened on a positive note and crossed yesterday's high in the initial hour of trading itself. However, it went down thereafter making new lows and did not took support even at 40 HEMA. The index finally ended the session with a loss of 275 points. On candlestick charts, the Sensex has formed a Dark Cloud Cover pattern, which indicates a bearish trend. After yesterday’s close above the upper line of the bearish channel, Nifty again came inside that channel and gave a negative close, which is a sign of worry for the bulls. On the hourly chart, our previous converging trend lines today got broken on downside, which is again not a good sign for bulls. Nifty diverged southwards facing resistance of 20 DSMA, which is not an exciting sign. The levels to watch out for tomorrow are 4,525 on downside and 4,680 on upside. Bears with 702 declines and only 510 advances dominated the market breadth.
Nifty chart: 4,582
60 minute chart
On the hourly chart, the momentum indicator KST gave a negative crossover, which is a sign of bears dominating the market for coming days. Our short-term bias is revised downwards for the target of 4,425 with the reversal at 4,680. However our mid-term bias is down for the target 4,270 with the reversal pegged at 4,960. All sectors except the two--FMCG and automobile--ended in red. Sectors that were knocked the worst were realty, banking and information technology. The index stocks that were sinking in red were ICICI Bank, HDFC Bank and Tata Steel. Market Breadth BSE
NSE
Advances
1,254
506
Declines
1,402
705
75
25
6,176cr
12,338cr
Unchanged Volume (Rs)
For Private Circulation only Sharekhan Ltd A-206, Phoenix House, 2nd Floor, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, India.
Short Term Trend Target Sensex
14800
Nifty
4425
Trend
Reversal
Support/Resistance
Up above 15800
14900 / 15800
Up above 4680
4450 / 4680
Medium Term Trend Target Sensex
14200
Nifty
4270
Trend
Up
Reversal
Support/Resistance
Up above 16700
14500 / 16500
Up above 4960
4340 / 4900
Icon guide Down
Downswing matures
Upswing matures
Trendy Levels Sensex Support
Nifty Resistance
15300 18800 19300 15550 15140 15700 18693 19700 15000 15800 18182 20062 20DSMA 40DEMA 20DSMA 40DEMA 15819 16120 20390 19941 BSE Sensex: 15,422 BSE Sensex: 19013
For Private Circulation only
Eagle Eye
Support
Resistance
4550 5700 4490 5616 4425 5514 20DSMA 20DSMA 4700 6096
4620 5847 4680 5993 4730 6078 40DEMA 40DEMA 4795 5958 Nifty: 4,582 Nifty: 5705
2
June 19, 2008
Home
Next
Smart Charts Date
Recommendation
Action
Stop Loss/ Reversal (Intra-day)
Stop Loss/ Reversal DCL
Buy/Sell Price
Closing Price (CMP)
Potential % P/L at CMP
Targets
17-06-08
Acc
Buy
-
593.7
636.0
643.2
1%
690-749
22-05-08
India Cement
Buy
149.0
-
176.0
164.0
-7%
190-210
21-05-08
IFCI
Buy
54.7
-
66.0
55.3
-16%
72-78
21-05-08
Praj Industries
Buy
164.0
-
205.0
191.7
-6%
240-270
NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing basis unless specified. TPB: Trailing profit booked
Momentum Calls For the short term—1 to 5 days
Stock
Action
Action date
Stop loss
Price
Closing price
Target1
Target2
Cairn India
Buy
18-06-08
Stopped out
283.0
277.0
289.0
295.0
Praj Industries
Buy
18-06-08
Stopped out
203.5
199.0
207.0
212.0
Tata Steel
Sell
18-06-08
838.1
842.5
822.6
821.0
800.0
Guj Alkali
Buy
18-06-08
Stopped out
194.0
189.0
200.0
205.0
ICICI Bank
Sell
18-06-08
Profit Booked
809.0
770.0
790.0
770.0
Satyam Computer
Sell
18-06-08
Book Profit
481.0
475.0
475.0
470.0
Grasim
Buy
18-06-08
Exit
2,212.0
2,230.0
2,265.0
2,320.0
JP Hydro
Buy
18-06-08
TPB
59.4
60.2
61.0
63.0
ACC
Buy
18-06-08
Book Profit
644.0
667.0
659.0
679.0
Rajesh Export
Sell
17-06-08
Stopped out
87.0
89.1
85.0
83.0
Lanco Infra
Buy
17-06-08
Book Profit
383.0
394.0
390.0
396.0
Power Grid
Buy
17-06-08
Book Profit
90.2
92.0
93.0
96.0
LIC Housing
Buy
17-06-08
Book Profit
304.0
310.0
310.0
316
Ranbaxy Lab
Sell
16-06-08
Stopped out
571.0
583.0
559.0
547.0
Reliance Industries
Buy
16-06-08
TPB
2,314.0
2,309.0
2,350.0
2,400.0
Hind Oil
Buy
13-06-08
Book Profit
130.0
138.0
135.0
139.0
Tata Power
Sell
13-06-08
Stopped out
1,277.0
1,302.0
1,255.0
1,230.0
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.
For Private Circulation only
Eagle Eye
3
June 19, 2008
Home
Next
Day Trader’s HIT List For June 19, 2008 Scrip Name NIFTY Futures
Support Levels S1 S2 4500
4540
Close (Rs) 4566.0
Resistance Levels R2 R1
Action
4590
Sell below S2.
4630
................................................................................................................................................................................................................
Adlabs Film
545
561
567.5
574
583
Sell on rise to R2/Sell below S2.
................................................................................................................................................................................................................
Century Text
580
590
605.9
616
632
Buy on decline at S2.
................................................................................................................................................................................................................
DLF
472
487
492.3
504
513
Sell below S2.
................................................................................................................................................................................................................
HUL
227
232
234.8
237
242
Sell on rise to R2.
................................................................................................................................................................................................................
ICICI Bank
751
778
785.0
797
817
Sell below S2.
................................................................................................................................................................................................................
Infosys
1820
1839
1866.0
1881
1902
Sell on rise to R2.
................................................................................................................................................................................................................
J P Associates
172
177
182.0
184
187
Sell below S2.
................................................................................................................................................................................................................
Maruti
747
755
765.0
780
790
Buy on decline to S2/Buy above R2.
................................................................................................................................................................................................................
Reliance
2200
2260
2283.0
2301
2330
Sell below S2.
................................................................................................................................................................................................................
Reliance Capital
1070
1110
1144.0
1152
1171
Sell below S2.
................................................................................................................................................................................................................
Reliance Comm
509
525
528.0
536
543
Sell below S2.
................................................................................................................................................................................................................
SAIL
156
159
162.0
164
167
Sell below S2.
................................................................................................................................................................................................................
Satyam
450
466
472.5
474
481
Sell below S2.
................................................................................................................................................................................................................
SBI
1310
1340
1345.0
1360
1370
Sell below S2.
................................................................................................................................................................................................................
Tata Motors
500
507
517.0
520
524
Sell below S2.
................................................................................................................................................................................................................
Tata Steel
806
817
822.6
830
837
Sell below S2.
................................................................................................................................................................................................................
*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
To know more about our products and services click here. For Private Circulation only
Home
Disclaimer “This document has been prepared by Sharekhan Ltd.(SHAREKHAN) This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, 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 SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.”
For Private Circulation only
Eagle Eye
4
June 19, 2008
Home
Next
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