S&P Defty Primary View: Looking at the charts, the probability of a gradual decent in the S&P Defty benchmark

index looks imminent. Dealing with the multitude of factors, it becomes imperative to have an element of objectivity in approach. From the Eurozone crisis to the looming inflationary concerns on the domestic economy, curious thoughts on asset quality of the Indian banks inked in red, painting a fundamentally sound picture for global & domestic growth would attract unfavourable apprehensions. The only reason which was responsible for the sharp pullback from the 3315 mark in Oct11 was the presence of Unparalleled Consensus of 3300 being taken out (4700 on S&P Nifty Index). A divided whispering house is favourable than a quintessentially unanimous majority order to ignite a directional trade. However, the technical upside remains capped & it would be better to have an intrinsically bearish view once 3485 is penetrated on charts while the majority still speculating for a directional play in the coming 1-2 weeks time frame.

The CZAR Index Trading Algorithm: Objectivity At its Best Current S&P Defty Weekly Trend Potential Inflection Point Trend Change Target BULLISH CMP: 3565 3485 BEARISH 3315

Potential Gain 170

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Sectorial Index Watch List: 1. S&P BankNifty Sectorial Index:

Current S&P BankNifty Weekly Trend BULLISH CMP: 9292

Inflection Point

Trend Change BEARISH

Potential Target 8200

Potential Gain 880

9080

2. CNX IT Sectorial Index:

Current CNXIT Weekly Trend

Inflection Point

Trend Change BEARISH

Potential Target 5450

Potential Gain 470

BULLISH

CMP: 6168

5920

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Derivative Segment Stock Watch List: 1. Reliance Industries Ltd: The upside will continue till the 948-930 mark is achieved in the coming 2-3 trading weeks. Long side participation could be initiated with a Stoploss of 830 in Cash segment. 2. Infosys Technologies Ltd: The downside will continue till the 2350 mark is achieved in the coming 5-6 trading weeks. Long side participation could be initiated with a Stoploss of 2980 in Cash segment. 3. State Bank of India: The downside potential may get unlocked in this counter once the 1780 mark on the charts gets penetrated. However it would be provident to take long positions with a strict stoploss of 1781 in the coming 1-2 weeks time frame. 4. Hindalco Industries Ltd: The downside will continue till the 110-102 mark is achieved in the coming 5-6 trading weeks. Short side participation could be initiated with a Stoploss of 143 in Cash segment. 5. JPAssociate Ltd: The upside will continue till the 85 mark is achieved in the coming 2-3 trading weeks. Long side participation could be initiated with a Stoploss of 73 in Cash segment.

Large Cap Galaxy Scrip Reliance Industries SBIN Hindalco JPAssociate InfosysTech Inflection Point 830 1781 143 73 2980 Current Trend BULLISH BULLISH BEARISH BULLISH BEARISH Potential Target 948 2051 102 85 2350 CMP 886 1798 129 76 2776 Potential Gain 62 270 27 9 426

All The Levels Mentioned Are In Cash Market Segment. Kindly Refer To Previous Nifty PLUS Newsletter for a comparative study.

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