Technical Call

Market Review
The markets traded within a narrow range throughout the day amid high
MOVING AVERAGES (TREND INDICATORS)
volatility and ended marginally in red. Buying was seen in FMCG and
Banking counters while Reality and Auto counters witnessed some selling
5 DAY SIMPLE MOVING AVERAGE 6049 POSITIVE
pressure. The Nifty closed at 6,119 up 2 points after making an intra-day high
of 6,138 and the Sensex was at 20,345 down 10 points after making an 20 DAY SIMPLE MOVING AVERAGE 6089 POSITIVE
intra-day top of 20,418. The Mid cap and Small cap indices both ended on a
flat note. The breadth of the market was relatively flat note and total turnover 50 DAY SIMPLE MOVING AVERAGE 5899 POSITIVE
recorded at Rs 1,01,007Cr. Nifty future ended with 28 point premium.
SUPPORT / RESISTANCE LEVELS:
Nifty Technical outlook for the day
The market consolidated throughout the day and ended on flat note. The Nifty (Future) Sensex
markets will continue to consolidate further so as to create a base to head for
CLOSE 6,147  20,345 
a big rally. The undertone continues to remain positive since lot of action is
seen in the mid cap and small cap stocks. The trend is positive as buying is 6125   20278  
SUPPORT1
visible at lower levels and in the near term 5,950 would be very important
point to be seen if its holds firmly. And a break below this point only might SUPPORT2 6104   20211  
penetrate into a fresh round of sell-off.
Strong support for Spot Nifty seen at 6,080 / 6,030 and resistance at RESISTANCE1 6171   20415  
6,150 / 6,180 .
RESISTANCE2 6196   20485  
Technical Calls 1-5 days

Positional call: Bank Nifty Futures – Upside resist at 12,950 with lower side support seen
at 12,550.
MLL FUT (72.15) – Accumulate on dip from a medium term perspective
keeping a trading stop loss of 70 / 68. The stock is in a strong up trend as it
is holding firmly above it's 5 & 20 dma of 68.50 and 65.80 respectively.
CLOSE 12,824 
Immediate target could of 78/81.

IFCI FUT (73.30) – Accumulate on dip from a short term trading perspective SUPPORT1 12752  
keeping a trading stop-loss of 71. The stock is well placed above all it's short
and long term moving averages and there has been a considerable increase SUPPORT2 12665  
in the volumes as well. Immediate target 77/81.
TARGET1 12911  

TARGET2 12983  

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