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High Noon November 24, 2015For Private Circulation only   1

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A Sharekhan technical research newsletter November 24, 2015

Punter’s Call

Stuck in a range

Updated at 12.00 noon

Advance Decline

BSE 1418 950

NSE 898 520

Moving Average (hourly)

20(S) 7858 100 (S) 7890

40(S) 7832 200 (S) 8043

S: Simple moving average

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The Nifty opened at 7837, down 12 points, and has

been trading sideways since then. On the daily chart it

is forming higher tops higher bottoms which is a bullish

sign. On the lower side, the immediate support exists

at 7810 and until that level hold the momentum shall

remain positive in the short term. On the higher side,

7907 is an immediate resistance. So the range in the

short term is 7907 to 7810 levels. Above 7907 we expect

the index to touch 7952, which is the 38.2% retracement

level. The Bank Nifty has gone sideways too and needs

to take off 17127 in order to inch towards our short-

term target of 17400.

On the hourly chart, the Nifty is trading around the 20-

hour moving average (HMA) and the 40-HMA, ie 7858 and

7845 respectively, which are crucial intra-day levels.

The hourly momentum indicator has turned negative.

The market breadth is positive with 898 advances and

520 declines on the National Stock Exchange.

5 16 19 20 21 23 26 27 28 29 30 2 3

November 

4 5 6 9 10 11 16 17 18 19 20 23 24 25

7600

7650

7700

7750

7800

7850

7900

7950

8000

8050

8100

8150

8200

8250

8300

8350

0.0%

23.6%

38.2%

50.0%

61.8%

100.0%

-1.5

-1.0

-0.5

0.0

0.5

1.0

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Looking Trendy

Short Term Trend

Medium Term Trend

Icon guide

     á      á á

á Down Sideways Downswing matures Upswing maturesUp

Index   Target Trend Reversal Support / Resistance

Sensex 26280 Down Below 25769 25769/26280

Nifty 7952 Down Below 7817 7817/7952

Index   Target Trend Reversal Support / Resistance

Sensex 24892 Up Above 27970 24892/27970

Nifty 7422 Up Above 8440 7422/8440

Premium Technical Synopsis

*DCL # CMP ^Intra-day Tgt. = Target Rwd. = Reward

Action date Calls Action   Seg-ments

Stop

Loss/Rever-

sal^

Stoploss*(Rs)

Recoprice (Rs)

ClosingPrice(Rs)

Poten-tial #P/L (%)

Tgt. 1(Rs)

Tgt. 2(Rs)

Risk/

Rwd.ratio

(%)

20.11.2015 HCL Infy Buy Cash 55.40 59.00 64.80 9.83% 67.00 72.00 0.28

     á

     á

á

á

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Momentum Swing

NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis.TPB: Trailing prot booked

NOTE: Action taken after market hours will be highlited in blue colour.

Rules for momentum calls:

1) The stop loss should be placed after 9.17am in order to avoid freak trade

2) The same will be revised in the TradeTiger terminal every day for the pop-ups

For the short term—1 to 5 days

Action

DateStock Action

Stop Loss/

ReversalPrice

Closing

Price

Potential% P/L at

CMP

Target1 Target 2

24-Nov-15 Apollo Tyre Dec Fut Buy 162.35 164.55 164.00 -0.33% 169.00 172.00

23-Nov-15 M & M Nov Fut Buy 1,305.30 1,328.30 1,321.50 -0.51% 1,372.00 1,392.00

20-Nov-15 Axis Bank Nov Fut Buy 459.00 465.45 466.00 0.12% 474.00 484.00

19-Nov-15 L & T Nov Fut Buy  1,341.00 1,365.00 1,353.55 -0.84% 1,388.00 1,408.00

Smart Charts

NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing basis unless specied.TPB: Trailing prot booked

Date Recommendation Action

Stop

Loss/ Re-versal (In-

tra-day)

Stop Loss/Reversal

DCL

Buy/SellPrice

ClosingPrice

(CMP)

Potential% P/L at

CMP

Target1 Target 2

18-Nov-15 Wockpharma Nov Fut Buy  1,570.50 1,622.50 1,623.00 0.03% 1,750.00 1,820.00

Momentum Cash Ideas

TPB: Trailing prot booked

NOTE: Action taken after market hours will be highlited in blue colour.

Rules for momentum calls:1) The stop loss should be placed after 9.17am in order to avoid freak trade

2) The same will be revised in the TradeTiger terminal every day for the pop-ups

For the short term—1 to 10 days

ActionDate

Stock ActionStop Loss/

ReversalPrice

ClosingPrice

Potential

% P/L at

CMP

Target1 Target 2

23-Nov-15 Apollo Hospitals Buy Stopped Out 1353.55 1330.55 -1.70% 1,394.00 1,418.00

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