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1. Technical View (Equity)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,789.85 0.51% 10685 10740 10775 10825 10860
Sensex 35898.35 0.40% 35585 35745 35865 36020 36140
Nifty Daily Chart
Comments:
Nifty opened with an upward gap and remained in positive terrain throughout the day. Nifty closed at
10790 with a gain of 54 points.
On the daily chart index has formed a sizable bullish candle forming higher High-Low compare to
previous session and has closed above previous session's high indicating positive bias. The chart pattern
suggests that if Nifty crosses and sustains above 10820 levels it would witness buying which would lead
the index towards 10850-10880 levels. However if index breaks below 10750 level it would witness
selling which would take the index towards 10730-10700 levels. Nifty is trading below 20 and 50 day
SMAs however it is sustaining above its 100 day SMA indicating positive bias in the medium term. Nifty
continues to remain in a downtrend in the short term, so exit on small pullback rallies to be our
preferred strategy.
The daily strength indicator RSI and momentum oscillator Stochastic have both turned positive and are
above their respective reference lines indicating positive bias
The trend deciding level for the day is 10775. If NIFTY trades above this level then we may witness a
further rally up to 10825-10860-10915 levels. However, if NIFTY trades below 10775 levels then we may
see some profit booking initiating in the market, which may correct up to 10740-10685-10650 levels

2. Stocks to focus for intraday Long Bajaj-auto, Bajfinance, Grasim, Hdfc, Ibulhsgfin
Stocks to focus for intraday Short Coalindia, Indusindbk, Abb, Chamblfert, Relaxo