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DAILY TRADING HIGHLIGHTS & OUTLOOK

13 Oct, 11

S&P CNX NIFTY


OPEN HIGH 5011.20 5109.80

LOW

4997.65

CLOSE

5099.40

Change(pts)

125.05

Change (%)

2.51

Advanc/Decline

2:1

Total Turnover (` in cr.)

151312

MARKET OUTLOOK The NIFTY opened on a positive note and traded in a narrow range for the initial hours. The nifty recorded a low of 4997, before picking up strong momentum towards the end of the day. The nifty registered a high of 5109 and closed very near to that level at 5099, a total gain of 125 points. After a day of profit booking the index continued its upward movement and has now closed above the resistance level of 5060 levels. Going forward the index is likely to head towards the levels of 5170 / 5200-5230 (Negative gap resistance level), if it sustains above the 5060 level. Any decline from current levels would garner supports at the levels of 5060 /5025/ 4980 levels. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

5099 9482

5060 9350

5025 9240

5170 9650

5200 9740

4955 9239

5004 9536

5459 10685

DAILY TRADING HIGHLIGHTS & OUTLOOK

13 Oct, 11

TRADING RECOMMENDATIONS

Moser-Baer Ltd. CMP` 22.10 Technical Outlook & Trading Strategy:The most important observation to be made on the charts of Moser Baer is the positive divergence displayed by indicators. They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back. In the short term we expect the share price to head towards the target of ` 24 levels. We recommend buy in the range of ` 21.90-` 22.25 with a stoploss placed below ` 21.30.

Delta Corp Ltd. CMP - ` 103.25 Technical Outlook & Trading Strategy:The share price of Delta Corp has registered a breakout form an inverted head and shoulder formation (Intraday chart). This is a bullish formation and the measuring implication suggests that the share price could head towards the level of ` 107/ ` 110 in the near term. Long positions can be taken at current level and again on pullback to the level of ` 101-` 102 with a stop placed below ` 99.20 for the aforementioned targets.

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