DAILY TRADING HIGHLIGHTS & OUTLOOK

28 July, 11

S&P CNX NIFTY

OPEN HIGH LOW CLOSE Change(pts) Change (%) Advanc/Decline Total Turnover (` in cr.) 5588.55 5591.70 5521.50 5546.80 -28.05 -0.50 1:1 201413

MARKET OUTLOOK The Nifty opened the session on a bearish note on the back of negative cues from its global peers. The index spent the entire session trading in the negative territory and the selling pressure increased as the session progressed. The index registered an intraday low of 5521.50 levels and finally closed the session at the 5546.80 levels with a loss of 28 points. With todays movement the index has closed just below its rising trendline support placed at the 5550 levels. Sustenance below the 5550 level could see the index testing its important support level of 5495-5480 levels. In case the nifty closes below these levels, expect downward movement to gain momentum and index could decline to 5430 / 5380 levels. On the upside if the nifty manages to hold on to support levels of 5550 or 5500 expect a rebound to levels of 5600 /5650-5680 over the next few days. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

5546 11000

5495 10940

5480 10800

5600 11090

5650 11160

5589 11168

5565 11093

5709 11315

DAILY TRADING HIGHLIGHTS & OUTLOOK

28 July, 11

TRADING RECOMMENDATIONS
Indian Overseas Bank Ltd. CMP` 136.30 Technical Outlook & Trading Strategy:The share price of Indian Overseas Bank had been consolidating sideways in the narrow range ` 138 - ` 148 levels since the past few sessions. With todays movement the price now has given a break-down below this consolidation range. It has also has closed above its short term moving averages. We believe that this breakdown suggests that the stock price could decline to levels of ` 131 / ` 128 in near future. We recommend sell at current levels and again on pullback to the levels ` 138- ` 139 with a stop loss placed above ` 141.10 levels. Gitanjali Gems Ltd. CMP - ` 322.05 Technical Outlook & Trading Strategy:The share price of Gitanjali Gems Industries appears to have broken out from its rising trendline resistance. Such a breakout is likely to have positive implications for the stock price. We expect strong advances to occur in the next few sessions and believe that the technical set up suggests that the stock price could test the levels of ` 334/ `342. We recommend traders to buy 50% now and again at ` 315- `317 with a stop loss placed below ` 310.80

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