| The analysis contained in this newsletter and various levels therein are valid for short term (upto 2 weeks), unless mentioned otherwise. It is suitable for short term and not for intra-day. This newsletter is updated every trading day morning to reflect developing trends in the market/stocks. Those interested in longer term view should instead refer to the ''Weekly Technicals'' report published every Monday. |
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| Market |
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| OVERVIEW |
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Momentum is building up but slow and steadily, as investors are cautious this time after two failed attempts at scaling 6000 in November. Mid-caps have taken a lead this time while most large-caps are still consolidating. This market demands opportunistic trading. |
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| NIFTY LEVELS |
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| Current Nifty Spot Rate | Supports | Resistances | Trends | | S2 | S1 | R1 | R2 | Medium Term | Short Term | | 5865 | 5240 | 5450 | 5990 | 6130 | Bullish | Flat | |
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| SECTORAL HIGHLIGHTS |
| Oil & Gas and Metals lead the market. |
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| LARGE CAPS |
| The following analysis is not for ‘intra-day’ but for ‘short term’ (i.e 1-2 weeks). It is purely for informational purpose. |
| STRONG: |
| The usually sedate PNB has come alive and is headed towards 680 with 585 as support.. |
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| WEAK: |
| Avoid shorting. |
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| TRADING BREAK-OUTS |
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| These are short term holdings for about 2-5 weeks. |
| Scrip | Break-out Point | Likely Targets | Stop-loss | Current
Price | Targets
Done | | Type | Date | Price | T1 | T2 | | TTML | Long | 3 Dec | 50.40 | 58.40 | - | DCL<46 | 51.50 | None | | SAIL | Long | 27 Nov | 271 | 298 | - | DCL<245 | 263 | None | | Karur Vysya Bk | Long | 19 Nov | 350 | 379 | - | DCL<320 | 340 | None | DCL = Day''s Closing Price
Updated levels are highlighted in yellow.
Note: Targets are indicative, and further adjustments/ fine-tuning is communicated on a real-tmie basis. | |
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| DISCLOSURE
The analyst holds long term investments in various Reliance group companies (including Reliance Industries, Reliance Capital, Reliance Energy, Reliance Natural Resources and Reliance Communications) and has business relations with Reliance Money, a Reliance Capital company. The analyst and his dependents have no positions in other stocks/futures.
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DISCLAIMER
This newsletter is prepared for Reliance Money by Sachin Chavan. The newsletter and the opinions/break-outs mentioned therein are for informational purpose only and not a recommendation or an offer or solicitation of an offer to any person with respect to the purchase or sale of the stocks/futures discussed in this report. The author, Sachin Chavan does not accept any liability arising from the use of this document. The recipient & reader of this material should rely on their own investigations and take professional advice. Subscribers, recipients and readers using the information contained herein are solely responsible for their actions and shall not hold the Author liable for any investment decisions/ actions or any other action (including abstaining from action) based on the Content provided. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The information provided is based on the theory of Technical Analysis. All levels mentioned, including break-out, target, stoploss are only informative. Trading and investment in stock market is risky and volatile. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from the author.
- Sachin Chavan
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| Reliance Money Disclaimer |