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DAILY TRADING HIGHLIGHTS & OUTLOOK 23 Dec ,

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MARK ET OUTLOOK

The NIFTY opened on a subdued note and traded in a narrow range for the initial hours. The

nifty recorded a low of 4632, before picking up strong momentum toward the end of the day. The

nifty finally closed at 4733, after recording a high of 4740.

With todays movement the index has managed to close above its breakdown level of 4700 (as

shown in the chart). Sustenance above the 4750 levels could see the index extending its pullback

to the levels of 4800-4865(cluster of moving averages) and 49004920 (declining Trend line)

levels.

On the downside 4700 level is providing immediate support followed by 4640 levels. A close

below the 4640 levels would see the index gathering momentum on the downside and could test

the levels of 4600 /4540levels.

Key Leve ls & Averages

S&PCNXNIFTY

OPEN 4636.9

HIGH 4740.6

LOW 4632.9

CLOSE 4733.8

Change(pts) 40.70

Change (%) 0.87

Advanc/Decline 3:2

Total Turnover

(` in cr.)

16480

INDEX Close Support-1 Support-2 Resistance-

1

Resistance-

2

8 DMA 34 DMA 200 DMA

NIFTY 4733 4700 4640 4750 4800 4760 4865 5302BANK-NIFTY 8384 8300 8212 8466 8550 8284 8759 10269

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DAILY TRADING HIGHLIGHTS & OUTLOOK 23 Dec ,

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Tata Motors Limited CMP`184.10

Technical Outlook & Trading Strategy:-

The share price of Tata Motors Limited has been trading sideways for past few sessions. The stock has closed above

its cluster of moving averages. Another point to be not ed is that t he stock has also registered a running breakout on

the intraday chart. The mom entum indicators are rising, indicating m ore upside for the stock.

We recommend a buy at current level and again on the pullback in the range of 182--183with a stop loss placed

below ` 178.40 for the targets of `190 / ` 196.

Tata Global Beverages Limited CMP - ` 89 .75

Technical Outlook & Trading Strategy:-

The stock price of Tata Global Beverages Limited is trading in a channel for past few sessions. On the daily chart

the stock it forming a cup and handle pattern. Another important observation is that the stock has closed above itscluster of m oving averages. The ADX indicator is indicating fr esh upside In th e stock.

Traders can open a long trade at current levels with a stop loss placed below `86.4 for targ ets of `94/ ` 98 / ` 100.

Disc laimer

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