DAILY TRADING HIGHLIGHTS & OUTLOOK

10 Oct, 11

S&P CNX NIFTY

OPEN HIGH 4883.65 4922.60

LOW CLOSE

4861.20 4888.05

Change(pts) Change (%)

136.75 2.88

Advanc/Decline Total Turnover (` in cr.)

2:1 111034

MARKET OUTLOOK The NIFTY opened the session on a strong positive note and traded in the range of 49224960 levels. The index witnessed a sideways movement in the intraday session after a strong opening. The index eventually closed the day at 4888 levels with a gain of 136 points. The Index has taken strong support & seems to be making a double bottom at 4720 levels .On the weekly chart it has shown a reversal bar at this level, suggesting that the bottom is in place. Going forward the nifty now needs to sustain above 4920 levels, which would give some strength and a possible test of levels of 4980 / 5025 /5060 levels in the near term. Any pullback from the current level is likely to garner support at the levels of 4825 /4800 levels which should be considered as an opportunity to create fresh longs. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

4888 9038

4825 8920

4800 8850

4920 9120

4980 9240

4873 9167

5001 9585

5474 10718

DAILY TRADING HIGHLIGHTS & OUTLOOK

10 Oct, 11

TRADING RECOMMENDATIONS

Infrastructure Development Finance Company (IDFC) Ltd. CMP 116.40 Technical Outlook & Trading Strategy:The share price of IDFC has seen a sharp fall from the highs of `145 on 25th July 2011 to the lows of `103.25 Levels. The stock has since then pulled back and tended to trade within the ` 103.25---` 116 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock. We recommend traders to buy 50% now and again on dips up to `113` 114 levels with a stop loss placed below `111.8 levels for targets of `122 `130levels.

Shriram Transport Finance Company Ltd. CMP` 576.80 Technical Outlook & Trading Strategy:The Shriram Transport has witnessed heavy selling pressure on Fridays session of trade. The price of Shriram Transport also fell on the back of strong volumes. The `587 levels was the crucial support for the price of Shriram Transport. But now a break below this level has opened up downside targets of `540 / `525levels. The momentum indicators are also in sell mode and the price of Shriram Transport have been closing below its key moving averages cluster since the past few sessions of trade. We recommend traders to sell in the range of `574 `580 levels with a stop loss placed above `601.6 levels for targets of `540 `525 levels, expected to be achieved in coming few Sessions.

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