technical desk daily market update.. nse index sharp rally from the lows indicate a technical bounce...

SATCO CAPITAL MARKET LTD.

Technical Desk Daily Market Update.

Nse Index

Sharp rally from the lows indicate a technical bounce in near term whereas stiff resistance is expected at 4940.Intraday Resistance : 4869 / 4882 / 4900 / 4940Intraday Support : 4827 / 4815 / 4794 / 4760

Bank Nifty Index

Sharp rally from the lows indicate that bulls would be stronger than bears for near term whereas resistance expected would be around 9500. Intraday Resistance : 9432 / 9475 / 9545 / 9600Intraday Support : 9292 / 9250 / 9180 / 9070

GOLD

Trend is up on charts; however expect profit booking at rise.Intraday Resistance : 29972 / 30000 / 30058 / 30145Intraday Support : 29864 / 29831 / 29779 / 29691

SILVER

Near term trend is down; therefore strategy still remains the same.Best trading Strategy: Sell on rise….Intraday Resistance : 54030 / 54148 / 54332 / 54650Intraday Support : 53649 / 53531 / 53345 / 53034

CRUDE OIL - COMMODITY

Trend is down on charts; however expect a technical bounce.Trading Strategy: Buy on dips.Intraday Resistance : 4697 / 4717 / 4755 / 4799Intraday Support : 4625 / 4600 / 4567 / 4530

USD/INR

Trend is up on charts; therefore best trading strategy would be buy on dips with a strict stoploss of 55 as trade below this level would attract aggressive profit booking….Intraday Resistance : 55.75 / 55.80 / 55.90 / 56.10Intraday Support : 55.55 / 55.45 / 55.30 / 55.05

S&P 500 - AMERICA

Post sharp correction in near term; index has witnessed buying pressure at dips; however on charts trend is still down, therefore any rally which is expected in near term could be said as a technical bounce whereas one must grab the opportunity to sell on rise….

Monday – Friday Trading Strategy.

Sr No. Symbol Action CMP Target Stoploss

1 DIVISLAB SELL 909 885 920

2 JET AIRWAYS SELL 305 295 309

3 JINDALSTEEL SELL 430 410 439.90

4 CENTURYTEX SELL 261 249 267

5 NCC SELL 29.55 27.80 30.30

Mon-Fri status M2MSr No Symbol Action

Entry Point

CMP P&L Status

1 DIVISLAB SELL 909 - 11.00 SL TRIGGERED

2 JET AIRWAYS SELL 305 - 4.00 SL TRIGGERED

3 JINDALSTEEL SELL 430 417 +13 HOLD

4 CENTURYTEX SELL 261 263 -3 HOLD

5 NCC SELL 29.55 29.90 -0.35 HOLD