1. NIFTY DAILY OUTLOOK
12th December 2013
SWASTIKA INTELLIGENCE GROUP
Daily Nifty Levels
Pivot: 6304
R1: 6325
S1: 6275
R2: 6345
S2: 6250
R3: 6375
S3: 6230
MARKET SUMMARY:
Indian equity benchmark index nifty continued its correction for third consecutive day amid intraday
volatility. The day was started on pessimistic note amid weak global cues and nifty tumbled below 6300
mark due to weakness in PSU stocks but a sharp recovery is seen in last half an hour led by private
sector banking names; at the end nifty closed at 6307 mark with cut of 0.4%.
CHART FORMATION:
Nifty has resistance at upsloping trendline placed around 6420 mark.
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2. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
12th December 2013
On weekly chart nifty is forming a bigger bullish inverse head and shoulder formation.
6230 is upsloping trendline support which is a decent support at any correction.
Nifty formed small doji candlestick formation on daily chart.
20-day EMA is placed at 6200 mark while 200-day SMA is placed at 5880 mark.
TECHNICAL INDICATORS:
Momentum indicator RSI is still positively poised while Stochastic is showing negative crossover.
CCI has slipped below 100 mark while MACD is positively poised.
STRATEGY FOR TRADERS:
Nifty is in strong bullish trend; but a correction to 6230 level is expected; where market behavior is
likely to remain choppy; hence trader are advised to buy on dip around 6230 level; while sell on rise
near 6300 mark with stop loss of +/-25 points.
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3. NIFTY DAILY OUTLOOK
SWASTIKA INTELLIGENCE GROUP
Report Prepared by
Santosh Meena
RESEARCH TEAM
Ronak Choubey
Amit Khare
Vishnu Shreekar
Sonakshi Bahety
Saloni Gupta
12th December 2013
Designation
Derivative & Technical Analyst
E-mail ID
santosh.meena@swastika.co.in
SWASTIKA INTELLIGENCE GROUP
Fundamental Analyst
Commodity Analyst
Commodity Analyst
Research Associate
Research Associate
research@swastika.co.in
ronakchoubey@swastika.co.in
amit.khare@swastika.co.in
vishnu.shreekar@swastika.co.in
Sonakshi.bahety@swastika.co.in
Salony.gupta@swastika.co.in
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