DAILY TRADING HIGHLIGHTS & OUTLOOK

22 Sept, 11

S&P CNX NIFTY

OPEN HIGH LOW CLOSE Change(pts) Change (%) Advanc/Decline Total Turnover (` in cr.) 5153.75 5168.40 5109.85 5133.25 -6.95 -0.14 4:3 142609

MARKET OUTLOOK The NIFTY opened on a positive note and registered an intraday high of 5168 levels. The index witnessed a sideways movement in the intraday session after a strong opening. The NIFTY eventually closed the day at 5133 levels with a marginal gain of 7 points. The Nifty consolidated its gain after it witnessed a sharp rally of more than 2 % during yesterdays session. The nifty now needs to break above the resistance currently placed at 5170 (recent swing high level) to continue and extend its upward movement to its crucial resistance levels of 5200-5230 (negative gap resistance level). Sustenance above the 5230 would see the index filling up its negative gap and it could head towards the levels of 5270 / 5300 -5320 levels in a short span of time. On the downside the index has multiple supports at the levels of 5100 / 5070 /5030 levels.

Key Levels & Averages

INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

5133 9929

5100 9810

5070 9650

5190 9970

5230 10150

5074 9701

5110 9875

5531 10842

DAILY TRADING HIGHLIGHTS & OUTLOOK

22 Sept, 11

TRADING RECOMMENDATIONS
Bank of Baroda CMP` 793.00 Technical Outlook & Trading Strategy:The share price of bank Baroda has registered a breakout from its cluster of short term moving averages. The momentum indicators remain in the rising trajectory and indicate strength in the current up-move. We expect the stock price to test levels of ` 815 / ` 830 shortly. We recommend a buy with a stop loss placed below the level of ` 772.10.

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