20th
August, 2014
Nifty Outlook
REC0MMENDATIONS:
AMBUJACEM (BUY) TARGET 223-227
Intraday call
SRTRANSFIN (BUY) TARGET 945-...
WIPRO (LONG) TARGET 565-570
*The above recommendation is totally based on technical analysis for 20TH
August, 2014
For Any...
Upcoming SlideShare
Loading in...5
×

SMC Global Technical Stock Beats

37

Published on

SMC Global Technical Stock Beats

Published in: Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
37
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

SMC Global Technical Stock Beats

  1. 1. 20th August, 2014 Nifty Outlook REC0MMENDATIONS: AMBUJACEM (BUY) TARGET 223-227 Intraday call SRTRANSFIN (BUY) TARGET 945-955 Intraday call Domestic market continued to extend the ongoing rally on Tuesday; both the benchmark indices opened on the positive note following the strong closing in the global markets. Moreover, markets continued to see decent buying interest and closed positive for the sixth consecutive session. The benchmark nifty traded above 7900 levels and closed at all time high, led by Realty, Power and Capital goods sectors which registered gains over 1 percent. Meanwhile, the broader indices witnessed a decent show on Tuesday with mid cap and small cap indices booked 1% gains. On the global front, markets rallied on de-escalation of geopolitical risk. The S&P 500 traded within one percent gains of an all-time high. Asian markets gained strength with the Nikkei, Kospi and Taiwan rising around a percent. Support: 7850-7820 Resistance: 7930-7950 Stock showed decent correction from 225 to 205 levels in single downward move and traded sideways in the range of 205-212 to form the fresh buying pivot on charts. On Tuesday, stock went up by over 1.5% and gave the breakout of consolidation and also managed to close above the same. Therefore, one can buy in the range of 215-216 levels for the upside target of 223- 227 levels with SL of 212. It appears from daily chart that stock was trading between lower highs and higher lows, sort of continuation triangle, which is bullish in nature. On Tuesday, stock went up by over 4% and gave the breakout of same with high volume. Therefore, one can buy in the range of 922-923 levels for the upside target of 945-955 levels with SL of 910.
  2. 2. WIPRO (LONG) TARGET 565-570 *The above recommendation is totally based on technical analysis for 20TH August, 2014 For Any Query or Suggestions email at researchfeedback@smcindiaonline.com Analyst Mudit Goyal muditgoyal@smcindiaonline.com Contact Details: 011-30111000 Extn. 677 Disclaimer: This report is for the personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use .The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned here in or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such company(ies) or (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court. It appears from chart that stock was consolidating in the range of 535-555 levels from last few days, which leads to trade between lower highs and higher lows with positive bias. On Tuesday, stock ended flat and clears the indication for upside with the help of technical indicators. Therefore, one can buy in the range of 543-544 levels for the upside target of 565-570 levels with SL of 538.

×