DAILY TRADING HIGHLIGHTS & OUTLOOK

13 Dec, 11

S&P CNX NIFTY

OPEN HIGH LOW CLOSE Change(pts) Change (%) Advanc/Decline Total Turnover (` in cr.) 4906.85 4910.25 4755.55 4764.60 -102.10 -2.10 2:5 152319

MARKET OUTLOOK The NIFTY opened on a positive note and registered an intraday high of 4910 levels. The Index witnessed selling pressure from the higher level which led it to decline to an intraday low of 4755 and finally closed at 4764 with a loss of 102 points. Today the NIFTY has traded southward after registering pullback in the early session of the day. The index has closed near its multiple support levels of 4750; if NIFTY trades and closes below this level then it can fall further to retest its November months swing lows of 4700/4640. Any pullback from current level would garner resistance near its cluster of moving averages placed in the range of 49005000 levels. A breakdown below 4640 levels (On the closing basis) would catalog new 52 weeks low for the index, indicating fresh crash down to fall further up to the levels of 4580/4500/4440. Key Levels & Averages
INDEX NIFTY BANK-NIFTY Close Support-1 Support-2 Resistance1 Resistance2 8 DMA 34 DMA 200 DMA

4764 8543

4750 8426

4700 8284

4820 8700

4900 8818

4897 8835

4971 9074

5331 10366

DAILY TRADING HIGHLIGHTS & OUTLOOK

13 Dec, 11

TRADING RECOMMENDATIONS

Reliance Industries Limited CMP` 727.50 Technical Outlook & Trading Strategy:The share price of Reliance Industries Limited has been trading sideways for past few sessions. Currently the stock is trading below its cluster of moving averages and registered breakdown from its multiple support trend line. The ADX (leading momentum indicator) indicator is also in the bearish zone indicating stock to fall further up to the levels of `700/ `678. We recommend traders to sell at current level and again in the range of 735--740 with a stop loss placed above the level of ` 751.6 for the above mentioned targets.

Ranbaxy Laboratories Limited CMP` 406.05 Technical Outlook & Trading Strategy:The Share price of Ranbaxy Laboratories Limited has been trading sideways channel for past few months. The stock has closed near its support zone of `405--`400. If the share price trades and closes below this level then it could decline to test the next support placed at `378/ `365 levels. We recommend traders to sell below ` 400 level with a stop loss placed above `416.2 for the above mentioned targets.

Disclaimer

DAILY TRADING HIGHLIGHTS & OUTLOOK

13 Dec, 11

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