daily technical June 10

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daily technical June 10 Powered By Docstoc
					10th JUNE 2010

Vinit Pagaria, ACA, FRM
Ranajit Kumar Saha

E-mail :
                                  NIFTY DAILY CHART

              BUY/SELL        CMP          TARGET 1   TARGET 2   TARGET 3   STOP LOSS

   KOUTONS      BUY          310.50            314       316       319         306

   IRB          BUY          255.25            257       259       262         252

                          NIFTY (5000.30)
             Resistance levels             Support levels
             Resistance 1: 5030            Support 1:4960
             Resistance 2: 5070            Support 2: 4920
             Resistance 3: 5095            Support 3: 4880
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               BSE SECTORAL INDICES                                         BSE SECTORAL INDICES

                       TOP GAINERS                                               TOP LOSERS
 Sector                        Value       % Change      Sector                            Value    % Change
 METAL                        14101.83        1.54                 FMCG                2993.25       (2.14)
 HC                           5530.29         1.36                     IT              5101.45       (1.26)
 OIL & GAS                    9942.76         1.28                 POWER               2967.04       (0.22)
 REALTY                       2930.52         0.92                 TECK                3138.19       (0.19)
 PSU                          8995.81         0.70                     -                     -         -
 Source: BSE                                             Source: BSE

                MARKET INDICATORS                                           MARKET INDICATORS

                   TOP NIFTY GAINERS                                           TOP NIFTY LOSERS
 Company                       Close       % Change      Company                           Close    % Change
 BHARTIARTL                    274.25         6.15       ITC                               278.15    (3.22)
 STER                          629.70         3.36       TATAPOWER                          1213     (2.45)
 TATASTEEL                     463.50         2.68       TCS                               735.55    (1.95)
 ACC                           864.95         2.68       WIPRO                             631.20    (1.74)
 UNITECH                       69.20          2.59       SIEMENS                           686.35    (1.05)
 Source: NSE                                             Source: NSE

                                  ASIAN MARKET PERFORMERS

          Index                            Close      Points of Diff             % Change
          HANG SENG                      19621.24        133.76                     0.69
          NIKKEI 225                      9439.13        (98.81)                   (1.04)
          KOSPI                           1647.22        (4.26)                    (0.26)
          TAIWAN                          7071.67        (80.32)                   (1.12)
          SHANGHAI COMPOSITE              2583.87        69.92                      2.78
          Source: Bloomberg

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                                                 MARKET OUTLOOK

                                               NIFTY (5000.30, Up 13.20)
          Yesterday we have seen a very volatile and choppy season. After giving flat
          opening, the benchmark Nifty moved in a range of 4980-5050. At last it closed at
          5000.30, down by 13.20 basis points or 0.26%. Metal is the leading sector on
          yesterday trading season.

          Technically, Nifty has been closing below 200 DMA for two successive trading
          seasons at 5017. This is indicating that the trend of Nifty is negative until it able to
          close above 5017. As we discussed earlier, Nifty is trading in a wedge for last two
          weeks. So the short term movement of Nifty is expected to be range bound

          Intraday, Nifty support is 4960 and the resistance is 5030. if Nifty breaks 4960,
          intraday trend will be negative and it may go to 4920, 4880, but if nifty able to
          maintain above 5030, it may show the level of 5070 and 5095. So traders are
          advised to restrict trade below 4960 and maintain strict stop loss at this level of
          their long positions.

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