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DAILY TRADING HIGHLIGHTS & OUTLOOK

9 Dec, 11

S&P CNX NIFTY


OPEN HIGH LOW CLOSE Change(pts) Change (%) Advanc/Decline Total Turnover (` in cr.) 5037.40 5049.05 4921.45 4943.65 -118.95 -2.35 2:5 140158

MARKET OUTLOOK The NIFTY opened on a subdued note and traded southward throughout the day. The nifty recorded a high of 5049, before picking up strong momentum on the downside. The nifty finally closed at 4943, with a loss of 118 (2.35%) points. Today the NIFTY has halted its nine days rally with a fall of 118 pints after witnessing resistance around 5100 (its 61.8% retracement level). The index has also closed below its near term moving average. If NIFTY sustains below 4920 on the weekly closing basis, then it can fill up the rising gap placed in the levels of 49204852. Sustenance below that the NIFTY could retest its swing lows of 48204750 levels. Any pullback from current level would garner resistance around 5000 levels. A close above that would lead nifty to rally up to the levels of 5052/5120/5160 levels. Key Levels & Averages
INDEX NIFTY BANK-NIFTY Close Support-1 Support-2 Resistance1 Resistance2 8 DMA 34 DMA 200 DMA

4943 8915

4920 8820

4852 8700

5000 9065

5052 9240

4955 8688

4991 9239

5338 10450

DAILY TRADING HIGHLIGHTS & OUTLOOK

9 Dec, 11

TRADING RECOMMENDATIONS

Bharti Airtel Limited CMP - ` 367.25 Technical Outlook & Trading Strategy:The share price of Bharti Airtel Limited has fallen from the high of `447 to the low of `343. Since then the stock has pulled back and it has been trading sideways for past few trading sessions. In todays session the stock has closed below its cluster of moving averages. Sustenance below this levels will lead stock to head southwards up to the level of `354--`343. The momentum indicators are also in a bearish zone. We recommend traders to short at current level with a stop loss placed above ` 378.60 for the above mentioned targets.

Alstom Projects India Limited CMP` 362.70 Technical Outlook & Trading Strategy:The Share price of Alstom Projects India Limited has been trading below its near term moving average for past few weeks. The important observation to be made on the stock is that, the stock has registered breakdown from its recent swing low and made a new 52 weeks low. The MACD indicator is also in bullish trajectory. Traders should initiate short positions at current levels for the price targets of ` 350 / ` 338 levels. We recommend all long positions be protected with a stop placed below ` 374.20.

Disclaimer

DAILY TRADING HIGHLIGHTS & OUTLOOK

9 Dec, 11

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