8/3/2019 Daily Morning Update 28 Dec 2011

1/2

DAILY TRADING HIGHLIGHTS & OUTLOOK 28 Dec ,

11

1

MARKET OUTL OOK

The NIFTY opened on a strong positive note and traded higher in the early session

of the day. The index witnessed a high of 4800 and declined to the lows of 4724

levels. The index eventually closed the day at 4750 levels with a loss of 28 points.

The index is trading in the range of its near term moving average and short term

moving averages placed at 47304800 respectively, for past few sessions. The

Sustenance above 4800 would lead index to head towards the 50% retracement

placed at 4830 levels (as shown in the chart). Above that the index has resistance

at 4900 (declining trend line).

On the downside nifty is bouncing back from its near term moving average. If the

index closes below 4730 levels then it can slide down further to the levels of

4700/4640 levels.

Key Leve ls & Averages

S&PCNXNIFTY

OPEN 4780.2

HIGH 4800.5

LOW 4723.6

CLOSE 4750.5

Change(pts) -28.5

Change (%) -0.60

Advanc/Decline 2:3

Total Turnover

(` in cr.)

13092

INDEX Close Support-1 Support-2 Resistance-1

Resistance-

28 DMA 34 DMA 200 DMA

NIFTY 4750 4730 4700 4830 4900 4730 4846 5291BANK-NIFTY 8275 8200 8118 8368 8534 8300 8687 10230

8/3/2019 Daily Morning Update 28 Dec 2011

2/2

DAILY TRADING HIGHLIGHTS & OUTLOOK 28 Dec ,

11

2

Infosys Limited CMP` 2750 .00

Technical Outlook & Trading Strategy:-

The share stock price of Infosys Limited has rallied from the lows `2178 to the highs of `2979 and since then it is

trading sideways for past few sessions. This sideways mom entum has formed a flag form ation. Traders should note

that a flag pattern is a continuation pattern. The stock is also sustaining above its 200 days moving average. The

mom entum indicator is also rising higher.

Traders can go long at CMP with a SL placed below `2692 for a t arget of ` 2832/ ` 2895 levels.

Welspun Corp Limited CMP` 83 .70

Technical Outlook & Trading Strategy:-

The stock price of Welspun Corp Limited has been falling from the highs of ` 215.90 and registered a low of ` 64.70,

since then the stock has pulled back and now t rading sideways for few sessions. The important point t o be noted is

that the stock has closed above its cluster of moving averages. The momentum indicators are rolling upward

indicating more upside for th e stock

We advice traders to go long above `84 with a stop loss placed below 79.9 for the targets of ` 88 .5 / `91.

Disc laimer

The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are

prepared by Matrix Solutions and h is associates. The information contained herein is ba sed on their analysis of the Charts and up on sources that are considered reliable.

We, however, do not vouch for the accuracy or the completeness thereof. This m aterial is for personal information and we are not responsible for any loss incurred based

upon it. The investments discussed or recommended on this Website may not be suitable for all investors. Past performance may not be indicative of f uture performance.

Some of the securities/commodities presented herein should be considered speculative with a high degree of volatility and risk. Investors must make their owninvestment decisions based on their specific investment obj ectives and financial position and using such independent advice, as they believe necessary. You specifically

agree to consult with a registered investment advisor, which we are not, prior to making any trading decision of any k ind. While acting upon any information or analysis

mentioned on this website, investors may please note that neither Matrix Solutions nor any person connected with him accepts any liability arising from the use of this

information and views mentioned herein. Matrix S olutions and his af filiates may hold long or short positions in the securities/commodities discussed herein from time to

time the services are intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein

constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such

securities/commodities. Part of this website may contain advertising and other material submitted to us by third parties. We do not accept liability in respect of any

advertisements. You acknowledge that any warranty that is provided in connection with any of the products or services advertised on this website described herein is

provided solely by the owner, advertiser, manufacturer or supplier of that product and/or service, and not by us. We do not warrant that your access to the Website and/or

related services will be uninterrupted or error-free, that defects will be corrected, or that this site or the server that makes it available is free of viruses or other harmful

components. Subscribers are advised to understand that the services can fail due to failure of hardware, software, and Internet connection. Access to and use of this site

and the information is at your risk and we do not undertake any accountability for any irregularities, viruses or damage to any computer or Mobiles that results from

accessing, availing or downloading of any information from this site. We do not warrant or make any representations regarding the use or the results of the use of any

product and/or service purchased in terms of its compatibility, correctness, accuracy, reliability or otherwise. You assume total responsibility and risk f or your use of this

site and site-related services. A possibility exists that the site could include inaccuracies or errors. Additionally, a possib ility exists that unauthorized additions, deletions

or alterations could be made by third parties to the site. Although we attempt to ensure the integrity, correctness and authenticity of the site, it makes no guarantees

whatsoever as to its completeness, correctness or accuracy. In the event that such an inaccuracy arises, please inform our staff so that it can be corrected. Price and

availability of products and services offered on the site are subj ect to change without prior notice. To the extent we provide information on the availability of products or

services you should not rely on such information. We wil l not b e liab le for any lack of availability of products and services you may order through the s ite. Transactions

shall be governed by and construed in accordance with the laws of India, without regard to the laws regarding conflicts of law. Any litigation or any action at law or in

equity arising out of or relating to these agreement or transaction shall b e subj ect to Mumbai j urisdiction only and the customer hereby agrees consents and submits to the

jurisdiction of such courts for the purpose of litigating any such action. A CALL ON SMS is a service given only to members with the sole intention to aid their

information means. We do not guarantee any accuracy of generation, databases, delivery timings etc. while giving this facility. Depending on your location, service

provider, medium of communication and delivery, the service may be at times slow or not there at all. We do not guarantee completion of delivery. We shall in no way be

responsible for delays in receiving SMS on the mobile caused due to delivery methods chosen by the S ervice Provider, rush on the S ervice Providers Servers or any other

reason whatsoever that may cause such a delay. Use of this website and its services constitutes acceptance of D isclaimer, Privacy Policy and Terms of Use.

TRADING RECOMMENDATIONS