R K Global Shares & Securities Ltd-Private Client Research | Equity Research For Private Client Circulation 1

Technical outlook|3
rd
March14
Index Analysis
Nifty (Spot): 6276.95





Analysis:
We ended another superb week to end at
6276.95 with an ideal bullish marbozu candle
and on daily charts as well. Its a straight 150
points recovery from weeks low, and finally a
closing just below downward trend line
resistance placed at 6300. After such uniform
rally since last 2 weeks we might see a
consolidation below 6300 which shall be
considered as time retracement. We believe
6300 is the major hurdle on the upside that is
strong enough to prevent short term bulls for
a while. Though, we still believe good days
are yet to begin but rising volatility ahead of
macroeconomic instability is definitely a
concern.

From Technical perspective we believe there
could be a short lived down ward wave
towards 6150 level but we still prefer being
bullish for mid-term period.

Nifty (Fut): 6289.25

Trading Strategy

Buy above 6270 Target: 6310 SL: 6250
Sell below 6200 Target: 6160 SL: 6220
Bank Nifty (Spot): 10764.70
Analysis:
A hanging man candle to end the week just
below its 200DEMA could be a concern.
Though on weekly chart we see a white
marubozu for the second consecutive
session, but it is still trading below its heavy
resistance area placed in between 10850-
10900, so we prefer being neutral at this
juncture.

Bank Nifty (Fut): 10782.05
Trading Strategy

Buy above 10900 TGT:11000 SL:10850
Sell below 10600 TGT:10500 SL:10650





Jaydeb Dey
Technical Research Analyst
Jaydeb.d@rkglobal.in





Nifty (Spot) (Daily Chart)




Bank Nifty (Spot) (Daily Chart)





R K Global Shares & Securities Ltd-Private Client Research | Equity Research For Private Client Circulation 2

Technical outlook|3
rd
March14




Stock Alert
WOCKHARDT: 442.30

Action Initiation SL TGT
BUY AT 440 428 464

Risk/Reward: 1:2

Analysis:
After a prolonged down trend the stock is
trying to break out its recent consolidation it
is stuck in. On daily chart we see extreme
bullish RSI coupled with up trending ADX and
on flip side. +DI-DI bullish cross over is
already been done long ago MACD is also
trying to recover above its zero line. We
believe it is poised for a quick run up till 465
levels.

SL- Applicable on daily closing basis.

WOCKHARDT (Daily Chart)

JK CEMENT (Daily Chart)


JK CEMENT: 168.45

Action Initiation SL TGT
BUY AT 167 161 179

Risk/Reward: 1:2

Analysis:
After a prolonged down trend double bottom
formation is seen. On weekly chart we see a
Hammer followed by a bullish Dragon fly
doji. On daily chart we see RSI is on recovery
note from its oversold zone along with down
trending ADX and on flip side +DI-DI bullish
cross over is already been done. So, all
together we believe a short term bottom has
been formed and the stock is poised for a quick
run up till 180 levels.
SL- Applicable on daily closing basis.





R K Global Shares & Securities Ltd-Private Client Research | Equity Research For Private Client Circulation 3

Technical outlook|3
rd
March14
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