DAILY TRADING HIGHLIGHTS & OUTLOOK

14 Oct, 11

S&P CNX NIFTY

OPEN HIGH 5130.80 5136.95

LOW

5067.85

CLOSE

5077.85

Change(pts)

-21.55

Change (%)

-0.42

Advanc/Decline

1:1

Total Turnover (` in cr.)

133286

MARKET OUTLOOK The NIFTY opened on a positive note and registered an intraday high of 5136 levels. The Index witnessed profit booking from the higher level which led it to decline to an intraday low of 5067 levels. The nifty finally closed at 5077 with a loss of 21 points. It is to be noted that the index has recovered almost 350 points from the lows of 4728 levels which have stretched the daily momentum indicators higher. So we expect the nifty might take a breather for the upcoming session. ON the upside the index has resistances at the levels of 5170 /5200-5025 levels (negative gap resistance level). Any decline from current levels would garner strong support in the range of 5010-4970 levels as the cluster of short term averages are place in this range. Key Levels & Averages
INDEX NIFTY BANK NIFTY Close Support-1 Support-2 Resistance-1 Resistance-2 8 DMA 34 DMA 200 DMA

5077 9591

5060 9480

5010 9340

5130 9650

5170 9740

4982 9317

5008 9539

5454 10676

DAILY TRADING HIGHLIGHTS & OUTLOOK

14 Oct, 11

TRADING RECOMMENDATIONS

PTC India Ltd. CMP` 70.65 Technical Outlook & Trading Strategy:The share price of PTC has seen a sharp fall from the highs of `77.45 on 12st Aug 2011 to the lows of `66 Levels. The stock has since then pulled back and tended to trade within the ` 66---` 70.5 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock. We recommend traders to buy in the range of `70.4` 70.8 levels with a stop loss placed below `68.4levels for targets of `75 levels.

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