Daily Morning Update 2 Jan 2012

DAIL Y T R ADING HIG HL IGHT S & OUT L OOK 2 J a n, 12 1 MA RK ET OUTL OOK The NIFTY opened on a positive note and traded in a narrow range for the initial hours. The nifty recorded a high of 4690, before falling southward at the end of the day. Eventually the Index closed at 4624, after recording a low of 4609. The index has continued its downfall and closed below its crucial levels of 4700. A weekly close below 4700 indicates that the downward momentum can continue in upcoming sessions. Sustenance below 4600 it can register new 52 weeks low below 4531. Trading below 4531 it can head towards the lows of 4480 / 4420 levels. Any pullback from current level would garner resistance around 4640 /4700/4750 levels. Sustaining above 4750 it can rally to the levels of 4850. Key Levels & Aver ages S&P CNX NIFTY OPEN 4659.95 HIGH 4690.45 LOW 4608.90 CLOSE 4624.30 Change(pts) -21.95 Change (%) -0.47 Advanc/Decline 1:1 Total Turnover (` in cr.) 71701 INDEX Close Support-1 Support-2 Resistance- 1 Resistance- 2 8 DMA 34 DMA 200 DMA NIFTY 4618 4600 4540 47 00 4750 4687 4815 5278 BANK-NIFTY 7968 7852 7688 8000 8125 8153 8581 10187

Daily Morning Update 2 Jan 2012

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