DAILY TRADING HIGHLIGHTS & OUTLOOK

12 Oct, 11

S&P CNX NIFTY

OPEN HIGH 5019.90 5045.10

LOW CLOSE

4964.00 4974.35

Change(pts) Change (%)

-5.25 -0.11

Advanc/Decline Total Turnover (` in cr.)

1:1 115298

MARKET OUTLOOK The NIFTY opened on a positive note and registered an intraday high of 5045 levels. The Index witnessed profit booking from the higher level which led it to decline to an intraday low of 4964. The Nifty finally closed at 4974 with a marginal loss of 5 points. The index today witnessed profit booking near to the resistance level of 5060 levels. Going forward we expect index to consolidated in the range of 4860 on the downside and 5060 on the upside. ON the upside the index needs to close above 5060 to continue its upward movement to the levels of 5110 /5170 in the near term. On the downside the index has immediate support at the 4920 levels followed by the 4890 /4860 levels. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

4974 9178

4920 9120

4890 9040

5030 9350

5060 9430

4914 9167

4998 9561

5464 10706

DAILY TRADING HIGHLIGHTS & OUTLOOK

12 Oct, 11

TRADING RECOMMENDATIONS

Bank of India Ltd. CMP ` 326.45 Technical Outlook & Trading Strategy:The share price of Bank India has registered a breakout from 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 expect the stock price to continue its upward movement and believe that it could test levels of ` 340-` 345 shortly. We recommend a buy at current price with stop loss placed below ` 315.60. Jaiprakash Power Ventures Ltd. CMP` 35.90 Technical Outlook & Trading Strategy:The most important observation to be made on the charts of Jaiprakash Power Ventures is the positive divergence displayed by indicators. They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back. In the short term we expect the share price to head towards the target of ` 38 levels. We recommend buy at current levels and again on pullback to the level of of ` 35.60-- ` 35.30 with a stoploss placed below ` 34.70.

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