A Sharekhan technical research newsletter

August 20, 2015

Punters Call

Final wave of consolidation

The Nifty opened at 8471.65, up 14 points, but has been
trading sideways ever since. The index is still trading within
a range of range. This has led to the formation of a triangle
within a triangle. The smaller range is 8420-8531 whereas
the broader range is 8660-8315. So a break-out from the
smaller range will lead to a price move till the extremes
of the broader range. Only a break-out from the broader
range will help the trend to get established. The Bank
Nifty too is trading within a narrow range of 18550 to
18950 levels and a break-out from this range will help it
achieve a further trend. In yesterdays trading session the
daily momentum indicator also came into buy mode. So
we believe that the break-out will be on the upside. Hence
we maintain our short-term bias up.

8477 respectively, which are crucial intra-day levels. The

hourly momentum indicator has turned negative. The
market breadth was negative with 543 advances and 870
declines on the National Stock Exchange.

Updated at 12.00 noon

Advance

Decline

BSE

1028

1500

NSE

543

870

Moving Average (hourly)

On the hourly chart, the Nifty is trading below the 20hour moving average (HMA) and the 40-HMA, ie 8483 and

20(S)

8483

100 (S)

8505

40(S)

8456

200 (S)

8504

8690
8680
8670
8660
8650
8640
8630
8620
8610
8600
8590
8580
8570
8560
8550
8540
8530
8520
8510
8500
8490
8480
8470
8460
8450
8440
8430
8420
8410
8400
8390
8380
8370
8360
8350
8340
8330
8320
8310
8300
8290
KST (-0.05699)

1.0
0.5
0.0
-0.5
-1.0
-1.5

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Looking Trendy

Short Term Trend

Index

Target

Sensex

29090

Nifty

Trend

Reversal

u
u

8840

Down below 27209

Down below 8321

Support / Resistance
27209 / 29090
8321 / 8840

Medium Term Trend

Index

Target

Sensex

29090

Nifty

Trend

u
u

8840

Up

Reversal

Support / Resistance

Down Below 27209

27209 / 29090

Down Below 8321

8321 / 8840

Icon guide
Down

Downswing matures

High noon

August 20, 2015

Upswing matures

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Smart Charts
Date

Recommendation

Action

Stop Loss/
Reversal
(Intra-day)

19-Aug-15
18-Aug-15

Bajaj Auto Aug Fut

M & M Fin Aug Fut

Buy
Buy

Stop Loss/
Reversal
DCL

Buy/Sell
Price

2,445.00
254.00

2,538.00
263.60

Closing Potential %
Price P/L at CMP
(CMP)
2,515.75
268.10

-0.88%
1.71%

Target1 Target 2

2,690.00
282.00

2,790.00
294.00

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

Momentum Swing
For the short term1 to 5 days
Action
Date

Stock

Action

Stop loss

Price

Closing
price

Potential %
P/L at CMP

Target1

Target2

20-Aug-15

M & M FIN Aug Fut

Buy

260.00

266.20

268.10

0.71%

274.00

282.00

19-Aug-15

ICICI Bank Aug Fut

Buy

300.40

305.45

305.50

0.02%

312.00

317.00

19-Aug-15

UPL Aug Fut

Buy

Stopped Out

569.50

556.50

-2.28%

590.00

600.00

19-Aug-15

Reliance Ind Aug Fut

Buy

935.00

955.00

942.90

-1.27%

976.00

995.00

Potential %

Target1

Target2

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

Momentum Cash Ideas

For the short term1 to 10 days

Action
Date

Stock

Action

Stop loss
price

Price

Closing

19-Aug-15

Pipavav defence

Buy

Stopped Out

62.90

61.80

-1.75%

64.50

66.00

19-Aug-15

Crompton Greaves

Buy

Stopped Out

186.00

181.75

-2.28%

194.00

198.00

P/L at CMP

TPB: Trailing profit 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

High Noon

32

August 20, 2015

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High noon

August 20, 2015

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