For May 06, 2015

A Sharekhan technical research newsletter

Punters Call

Bulls and bears on rest

Market on May 05, 2015: Support @ 8261

Nifty daily: 8324

9200
9150

The Nifty closed marginally lower today after a sharp

run-up in yesterdays trading session. On the lower side,
8261 and 8220 remain good supports whereas 8355 is
the immediate resistance. The Bank Nifty has formed a
star candlestick pattern again on the daily chart which
indicates indecisiveness among traders. The daily as well
the hourly momentum indicators are well in buy mode
indicating some more bounce. Hence, we maintain our
short-term bias up for a target of 8575.

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
KST (-2.44748)

Other technical observations

On the daily chart the index is trading below the 20-day
moving average (DMA) and the 40-DMA, ie 8501 and 8514
respectively. The momentum indicator is trading in
positive mode on the daily chart.

29

5
2015

12

19

27

2
9
February

16

23

2
9
March

16

23

30

6
April

13

20

27

4
May

11

18

60-minute
8950
8900
8850

100.0%

On the hourly chart, the Nifty is trading above the 20hour moving average (HMA) and the 40-HMA, ie 8272
and 8295 respectively, which are crucial intra-day levels.
The hourly momentum indicator has turned positive. The
market breadth was negative with 705 advances and
779 declines on the National Stock Exchange.

8800
8750
8700
8650
8600
61.8%
8550
8500

50.0%

8450
38.2%

8400
8350

23.6%

8300
8250
8200
8150

0.0%

8100
KST (0.63866)

19

20

23

24

25

26

27

30

31

1
6
April

10

13

15

16

17

1.0
0.5
0.0
-0.5
-1.0
-1.5
-2.0
20

21

22

23

24

27

28

29

30

4
5
May

Market breadth
BSE

NSE

Advances

1,377

705

Decline

1,375

779

109

68

3,147 cr

17,179 cr

Unchanged
Volume (Rs)

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Looking Trendy

Short Term Trend

Index

Target

Sensex

28255

Trend

8575

u
u

Index

Target

Trend

Sensex

26350

Nifty

Reversal

Support / Resistance

Down below 27000

27000/28255

Down below 8187

8187/8575

Medium Term Trend

Nifty

7965

Up

Reversal

Support / Resistance

Up above 28088

26350/28088

Up above 8505

7965/8505

Icon guide
Down

Upswing matures

Downswing matures

Trendy Levels for Tomorrow

Sensex
Support

Nifty
Resistance

27330
27604
18800
19300
27150
27750
18693
19700
26890
28039
18182
20062
20DSMA
40DEMA
20DSMA
40DEMA
28039
28094
20390
19941
BSE Sensex: 27,440
BSE Sensex: 19013

For Private Circulation only

Eagle Eye

Support

Resistance

8280
5700
8261
5616
8200
5514
20DSMA
20DSMA
8501
6096

8356
5847
8414
5993
8500
6078
40DEMA
40DEMA
8514
5958

May 06, 2015

Nifty: 8,324
Nifty: 5705

Home

Smart Charts
Date

Recommendation

5-May-15
5-May-15
5-May-15
4-May-15
4-May-15

Kotak Bank May Fut

JSW Steel May Fut
Tata Global May Fut
PNB May Fut
M & M May Fut

Action

Stop Loss/
Reversal
(Intra-day)

Stop Loss/
Reversal
DCL

Buy
Buy
Buy
Buy
Buy

1,324.00
922.00
140.00
155.00
1,137.00

Buy/Sell
Price
1,409.80
965.10
145.80
164.30
1,180.00

Closing Potential %
Price P/L at CMP
(CMP)
1,431.00
982.90
145.60
167.25
1,181.90

1.50%
1.84%
-0.14%
1.80%
0.16%

Target1 Target 2

1,526.00
1,036.00
155.00
180.00
1,270.00

1,560.00
1,125.00
165.00
188.00
1,320.00

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 term1 to 5 days
Action
Date

Stock

Action

Stop loss

4-May-15

NTPC May Fut

Buy

Stopped Out

4-May-15

Kotak Bank May Fut

Buy

Book Profit

Price

Closing
price

Potential %
P/L at CMP

Target1

Target2

152.30

149.80

-1.64%

155.50

159.00

1,341.00

1,365.25

1.81%

1,374.00

1,388.00

Potential %
P/L at CMP

Target1

Target2

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 term1 to 10 days

Action
Date

Stock

Action

Stop loss
price

Price

Closing

5-May-15

Dena Bank

Buy

49.40

50.45

50.25

-0.40%

52.00

53.50

28-Apr-15

GHCL

Buy

74.40

77.00

76.25

-0.97%

80.00

81.00

27-Apr-15

Cummins India

Buy

832.55

860.55

861.40

0.10%

897.00

916.00

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

May 06, 2015

Home

Short specific
Term Trend
Stock
ideas
Bank Nifty

- CNX BANK INDEX - 1 MONTH (18,580.00, 18,656.00, 18,471.00, 18,566.00, -33.1992)

21000

Support: 18350/18163

20500

Resistance: 18625/18731

20000

9500

9000

8500

8000

7500

7000

KST (0.36985)
5

-5
8
ember

15

22

29

5
2015

12

19

27

2
9
February

16

23

2
9
March

16

23

30

6
April

13

20

27

4
May

11

18

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.

05.05.15

Bombay Dyeing

Buy

05.05.15

LICHSGFIN

04.05.15
04.05.15
*DCL

# CMP

Cash

63.60

67.40

67.20

-0.30%

76.00

79.00

1/3

Buy

Cash

429.00

442.60

441.80

-0.18%

456.00

470.00

1/2

Adani Ports

Buy

Cash

321.00

340.30

342.70

0.71%

390.00

417.00

1/4

Bank Of India

Buy

Cash

216.00

224.10

223.05

-0.47%

233.00

248.00

1/3

^Intra-day

For Private Circulation only

Tgt. = Target

Risk/
ratio (%)

Rwd. = Reward

Eagle Eye

May 06, 2015

Home

Day Traders Hit List

For May 06, 2015
Scrip Name
NIFTY Futures

Support Levels
S2
S1

Close
(Rs)

Resistance Levels
R1
R2

Action

8300.0

8315.0

8364.8

8400.0

8505.0

Go Long AboveR1

Bank Nifty Futures 18400.0

18471.0

18560.0

18715.0

19000.0

Go Long AboveR1

562.0

564.6

572.0

582.0

Go Long AboveR1

Axis Bank

554.0

BHEL

238.0

242.0

245.2

249.0

255.0

Go Long AboveR1

DLF

130.0

136.2

139.3

141.5

145.0

Go Long AboveR1

Hindalco

133.0

135.0

139.4

141.0

144.0

Go Long AboveR1

ICICI Bank

322.0

326.2

328.5

331.0

350.0

Go Long AboveR1

20.1

20.6

20.9

21.5

24.0

Go Long AboveR1

1618.0

1626.0

1642.4

1665.0

1700.0

Go Long AboveR1

874.0

885.0

892.2

902.0

940.0

Go Long AboveR1

Jai Prakash
LNT
Reliance Industries
SBI

265.0

270.0

272.1

274.5

278.0

Go Long AboveR1 / Go Short Below s1

Tata Motors

497.0

506.0

510.5

515.7

534.0

Go Long AboveR1

Tata Power
TISCO
TCS

74.4

76.0

76.1

77.7

80.0

Go Long AboveR1

368.0

374.0

380.1

381.0

390.0

Go Long AboveR1

2486.0

2500.0

2517.9

2536.0

2572.0

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

May 06, 2015

Home

Trading Rationale

Smart Charts

KOTAK MAHINDRA BANK (1,347.85, 1,371.10, 1,342.05, 1,363.05, +24.2500)

1550

Kotak Bank: Buy

1500

b
1450

1400

1350

1300
e
c

1250

a
1200

1150

1100

1050

CMP: Rs1,409.80
The stock with a sharp run-up in todays session has
confirmed the wave 5 up. The wave E of the triangle seems
to be over as the stock has negated the lower-top and lowerbottom formation on the daily charts. The monthly KST is
still in a buy mode, which indicates that the probability of
an upside is quite high. The minimum target for the triangle
comes to Rs1,526 and above that Rs1,560. Whereas, the
immediate support is pegged at Rs1,324.

1000

950
20

27

3 10
17
November

24

1
8
December

15

22

29

5
2015

12

19

27

2
9
February

16

23

2
9
March

16

23

30 6
April

13

20

27

4
May

11

18

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May 06, 2015
Eagle
Eye e-mail:
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