A Sharekhan technical research newsletter

For September 23, 2015

Punters Call

Bears take advantage of global cues

Market on September 22, 2015: Resistance at 7950

Nifty daily: 7,812

9300
9200
9100
9000
8900
8800
8700
8600
8500
8400
8300
8200
8100
8000

0.0%

The Nifty opened in a positive territory but failed to

sustain at higher levels and with the break of the crucial
support of 7799 it has confirmed that the rise from 7540
is a three-wave rise. Now, on the weekly charts either
wave 4/X seems to have gotten over or wave 5/Z down
has ensued. The target in the short-term comes to 7440,
ie the next weekly swing low below 7540, whereas in the
medium term it comes to 7140, ie 61.8% of the entire
rise from 5118 to 9119. On the upside, till todays swing
high is not taken off the trend remains down whereas in
the medium term the reversal is pegged at 8092, ie the
gap resistance.
23.6%

38.2%

7900
7800
7700
7600

50.0%

7500
7400
7300
7200

61.8%

Other technical observations

On the daily chart, the index is trading below the 20day moving average (DMA) and the 40-DMA, ie 7830 and
8044 respectively. The momentum indicator is trading in
a positive mode on the daily chart.

7100
7000
6900
6800
6700
6600
6500
6400
6300
KST (0.36926)

-5
June

July

August

September October

November

2015

February

March

April

May

June

July

August

September October

60-minute
8350
8300
8250
8200
8150
C

8100
8050
8000

On the hourly chart, the Nifty is trading below the 20hour moving average (HMA) and the 40-HMA, ie 7968 and
7911 respectively, which are crucial intra-day levels.
The hourly momentum indicator has turned negative.
The market breadth was negative with 435 advances and
1,058 declines on the National Stock Exchange.

7950
7900

7850
7800

7750
7700
7650
7600
7550
7500
7450
7400
KST (-1.16061)

2
1
0
-1
-2
-3
-4

10

11

12

13

14

17

18

19

20

21

24

25

26

27

28

31

1
2
3
September

10

11

14

15

16

18

21

22

23

24

-5

Market breadth
Advances
Decline
Unchanged
Volume (Rs)

BSE

NSE

975

435

1714

1058

107

58

2,728 cr

17,355 cr

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September
23, 2015
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Looking Trendy
Short Term Trend
Index

Target

Trend

Reversal

Support / Resistance

Sensex

24892

Up Above 26340

24892/26340

Nifty

7440

Up Above 8022

7440/8022

Trend

Reversal

Support / Resistance
23720/26687
7140/8092

Medium Term Trend

Index

Target

Sensex

23720

Up Above 26687

Nifty

7140

Up Above 8092

Icon guide

Up

Down

Sideways

Downswing matures

Upswing matures

Trendy Levels for Tomorrow

Sensex

Nifty

Support

Resistance

Support

Resistance

25580

25701

7787

7838

25472

25766

7720

7873

25398

25861

7685

7913

20 DSMA

40 DEMA

20 DSMA

40 DEMA

25775

26495

7830

8044

BSE Sensex: 25,651

For Private Circulation only

Nifty: 7,812

Eagle Eye

September 23, 2015

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Momentum Swing
For the short term1 to 5 days
Action
Date

Stock

22-Sep-15

DLF Sept Fut

21-Sep-15

Tata Comm Sept Fut

Stop Loss/
Reversal

Buy/Sell
Price

Closing
Price

Potential
% P/L at
CMP

Target1

Target 2

Sell

Stopped Out

127.60

130.00

-1.88%

124.50

122.00

Buy

Book Profit

394.45

403.25

2.23%

412.00

421.00

Action

NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis.
TPB: Trailing profit booked
NOTE: Action taken after market hours will be highlited in blue colour.
Rules for momentum calls:
1) The stop loss should be placed after 9.17am in order to avoid freak trade
2) The same will be revised in the TradeTiger terminal every day for the pop-ups

Momentum Cash Ideas

For the short term1 to 10 days
Action Date

Stock

21-Sep-15

Dishman Pharma

11-Sep-15

STRTECH

Stop Loss/

Price

Closing
Price

Potential
% P/L at
CMP

Target1

Target 2

Buy

Book Profit

262.00

271.55

3.65%

272.00

278.00

Buy

Book Profit

81.00

83.50

3.09%

85.00

88.00

Action

TPB: Trailing profit booked

NOTE: Action taken after market hours will be highlited in blue colour.
Rules for momentum calls:
1) The stop loss should be placed after 9.17am in order to avoid freak trade
2) The same will be revised in the TradeTiger terminal every day for the pop-ups

For Private Circulation only

Eagle Eye

September 23, 2015

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Short Term Trend

V

Bank Nifty

- CNX BANK INDEX - 1 MONTH (17,575.00, 17,640.00, 16,920.20, 16,922.30, -615.000)

21000
20500
20000

19500

Support: 16680/16187
Resistance: 17181/17640

19000

18500
18000
b

17500

17000
16500
16000
C

15500

15000
KST (1.90681)
5

-5

December

2015

February

March

April

For Private Circulation only

May

June

July

August

September

October

Eagle Eye

September 23, 2015

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Day Traders Hit List

For September 23, 2015
Scrip Name

Support Levels

Close

Resistance Levels

Action

S2

S1

(Rs)

R1

R2

7630.0

7720.0

7779.0

7850.0

7930.0

Go Long AboveR1 / Go Short Below s1

16650.0

16750.0

16927.0

17110.0

17250.0

Go Long AboveR1 / Go Short Below s1

Axis Bank

495.0

503.0

509.0

513.0

520.5

Go Long AboveR1 / Go Short Below s1

BHEL

196.0

199.0

201.7

203.5

205.0

Go Long AboveR1 / Go Short Below s1

BPCL

845.0

855.0

862.0

870.0

885.0

Go Long AboveR1 / Go Short Below s1

1080.0

1095.0

1105.5

1114.0

1130.0

Go Long AboveR1 / Go Short Below s1

ICICI Bank

264.0

268.0

270.7

273.0

278.0

Go Long AboveR1 / Go Short Below s1

LIC Housing

425.0

430.0

435.4

440.0

446.0

Go Long AboveR1 / Go Short Below s1

NIFTY Futures
Bank Nifty Futures

INFOSYS

LNT

1450.0

1470.0

1484.4

1495.0

1518.0

Go Long AboveR1 / Go Short Below s1

Reliance Industries

825.0

840.0

847.5

855.0

870.0

Go Long AboveR1 / Go Short Below s1

SBI

232.0

236.0

237.9

240.0

243.0

Go Long AboveR1 / Go Short Below s1

SunPharma

880

895

901.0

908

925

Go Long AboveR1 / Go Short Below s1

Tata Motors

308.0

313.0

315.65

318.5

324.0

Go Long AboveR1 / Go Short Below s1

TISCO

214.7

217.0

220.0

222.0

225.0

Go Long AboveR1 / Go Short Below s1

2465.0

2498.0

2526.4

2555.0

2585.0

Go Long AboveR1 / Go Short Below s1

TCS

*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
SL=Stoploss

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September 23, 2015

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