Daily Technical Report

F O R P R I V A T E C I R C U L A T I O N O N L Y

12 June 2 0 0 8

NIFTY 4523.60
Intra Day
Volatility 132 pts
S1 4480.75
S2 443 7.90
R1 4583.90
R2 4613.00

SENSEX 15185.32
Intra Day
Volatility 363 pts
S1 15054.60
S2 14923.88
R1 15270.93 S&P Nifty (4523.60 points) (+73.80 pts)
R2 15377.93
Yesterday, the Bulls must have heaved a sigh of relief. The Nifty
opened higher and then languished around 4500 points. Fresh Bear
TREND Direction raid in the afternoon tested the lows but got absorbed. Short
covering in BHEL, Banking and realty stocks helped the markets to
Short Term DN
close at the day’s high. Reliance stood rock steady behind the Bulls.
Medium Term DN Action was seen in some Midcap stocks which is reflected in the A/D
ratio (2:1) but the volumes remained almost the same.
Long Term UP
As mentioned, since the odds are even, the small players are not
carrying forward their positions; hence short covering is emerging
AVERAGES at lower levels. Volumes are still lower, buying support is required
Daily to threaten the Bears. As long as the Nifty trades below the
resistance line of the orange channel (4670), the Bears need not
13 sma 4706.06 worry. Short term trend is down until 4756 points is not decisively
34 sma 4940.55 crossed while 4390 points is the pivot.
89 sma 4953.04
Yesterday, the Nifty crossed the required high of 4498 points. Today
it has to hit a high above 4573 points (with a hurdle at 4554) for the
NIFTY Intra Week pullback to sustain. Intraday, 4511 points is the pivot while crucial
Volatility 224 pts support is at 4480 and 4437 points. Again the Bears will try to
S2 4395.00 tighten their grip. A tussle is on; protect your positions
appropriately.
S3 4271.00
R1 4968.00
R2 5074.00
Triveni Engg Buy in Dips CMP: 92.15 Tgt: 99-102

The daily candlestick chart of Triveni Engg shows a vertical decline from Rs.131.50 to
Rs.83.90. Short term trend is down with strong support around Rs.82. High risk
traders can buy in small quantities preferably in declines around Rs.88-90
with a strict stop loss below Rs.84 in close for a pullback to Rs.99-102 in the
next 7-8 trading sessions which if sustained on volumes can test Rs.108 in
the short term.

* It’s an anticipatory call Avoid gap openings and trade in cash.

 Intra Day Range for 12/06/2008
Scrip Close R1 R2 S/R S2 S1

A.C.C. 635.45 645.70 655.90 630.80 605.70 620.60

ABB LTD. 966.50 986.30 1006.15 965.15 924.15 945.30

BHARTI TELE 806.90 827.60 848.30 801.30 754.30 780.60

BHEL 1481.45 1527.00 1572.50 1463.50 1354.50 1418.00

BOM DYEING 723.05 750.60 778.10 710.30 642.50 682.80

CENTURY TEXT 612.05 627.70 643.30 605.40 567.50 589.80

HIND.LEVER 232.55 235.85 239.10 232.70 226.30 229.45

ICICI BANK 741.65 753.40 765.10 743.30 721.50 731.60

INFOSYS TECH 1894.50 1914.00 1933.50 1883.50 1833.50 1864.00

ITC LTD. 199.35 203.20 207.00 199.10 191.20 195.30

LARSEN & TOU 2652.95 2698.00 2743.00 2639.00 2535.00 2594.00

MAHA.TELE 95.10 95.75 96.35 95.00 93.65 94.40

MARUTIUDYOG 733.60 756.70 779.75 739.35 698.95 716.30

ONGC CORPN 830.55 849.00 867.50 836.50 805.50 818.00

PUNJ LLOYD 254.35 260.75 267.15 252.20 237.25 245.80

RANBAXY LAB. 560.80 586.20 611.65 567.25 522.85 541.80

RCOM 543.05 554.20 565.40 547.60 529.80 536.40

REL.CAP 1126.65 1157.40 1188.20 1134.20 1080.20 1103.40

RELIANCE 2260.00 2285.80 2311.65 2242.90 2174.15 2217.05

SATYAM COM 482.70 489.75 496.75 481.00 465.25 474.00

SIEMENS LTD. 480.40 493.90 507.45 484.45 461.45 470.90

STATE BANK 1309.50 1328.60 1347.70 1305.80 1263.90 1286.70

STERLITE IND 798.50 824.90 851.35 803.45 755.55 777.00

SUZLONENERGY 270.05 277.80 285.50 271.90 258.30 264.20

TATA MOTORS 505.60 523.50 541.40 511.75 482.10 493.85

TATA STEEL 837.20 848.00 858.75 836.85 814.95 826.10

TCS LTD. 892.85 908.50 924.20 894.25 864.30 878.55

TITAN IND. 1066.35 1120.25 1174.15 1077.20 980.25 1023.30

TATA COMM. 454.45 460.80 467.15 454.65 442.15 448.30

WIPRO LTD. 473.10 480.00 486.95 475.05 463.15 468.10

S/R indicates the immediate support/resistance depending on the

closing price.
 Intra Day Range for 12/06/2008

Scrip Close R1 R2 S/R S2 S1

BANKNIFTY 5935.20 6027.30 6073.35 5928.90 5784.45 5882.85

CNXIT 4274.70 4322.20 4346.00 4276.10 4206.20 4252.30

JUNIOR 7377.35 7520.70 7592.35 7410.35 7228.35 7338.70

NIFTY FUTS. 4496.40 4571.85 4609.60 4512.25 4414.90 4474.50

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