The document is a daily newsletter from Shah Advisory providing analysis and recommendations on major Indian stock market indices and stocks. It notes that the BSE Sensex index consolidated in a narrow range after a big fall the previous day, and recommends staying short on the index with a stop loss of 18,558. Axis Bank is expected to reach levels of 1,154-1,127 in coming days based on an initiated short call. ICICI Bank may touch 1017 and Reliance Industries could fall to 791, while Tata Motors is showing a positive trend and could reach 265. Tata Steel remains slightly bearish below 399.

1. SHAH ADVISORY
Daily Morning
Newsletter
01-11-2012
Vivek A. Shah
2012
WWW.SHAHADVISORY.COM

2. Thursday, 01 November 2012  - www.shahadvisory.com
Shah Advisory – Daily Morning Newsletter
BSE Sensex – 18430.85
TREND / PERIOD DAILY WEEKLY MONTHLY
DIRECTION Down UP UP
Trend Change Level 18725 18190 17740
(Closing Basis)
After big fall on Tuesday, Sensex consolidated in a very narrow range on Wednesday. We are still
suggesting staying short on the index keeping stop loss of 18558. In coming days, we may see a level
of 18300 – 18200 on the index.
S&P 500(USA) – 1411.94
Trend is week but the Index may find support in the area of 1397-1400. Any close below that level
will take index to the level of 1370.
AXIS BANK – 1182.60
Our short call below 1170 initiated in trade yesterday. Now it is expected that level of 1154-1127 can
be attained in a coming days. Keep stop loss of 1192 for the position. Overall the stock has turned
negative after a sharp up move since last many trading session. Short to medium term investors
should look for the level of 1115-1130 to get entry in to the stock.
ICICI BANK – 1050.20
Overall trend is sideways to down as the stock is trading in the range of 1100-1030. It may touch the
level of 1017 in coming days. Keep stop loss 1066 for any short positions.
RELIANCE INDUSTRIES – 805
RIL is trading in the range of 816-791. We can expect movement on the either side depends upon
the side of breakout. Intraday it may come down to the level of 791 on break below 801. For any
short position, keep stop loss of 818.
TATA MOTORS – 254.50
Trend is turning positive for TATA MOTORS. Look for entering long position on cross above 257 for
the target of 265. Keep stop loss of 250 for the position.
 +91 84600 32788  support@shahadvisory.com
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3. Thursday, 01 November 2012  - www.shahadvisory.com
Shah Advisory – Daily Morning Newsletter
TATA STEEL – 391.15
Overall trend is slightly bearish till the level of 399 is not crosses on the closing basis. Buying is not
yet advisable & fresh shorting has to be initiated below 388. For the open short positions, Stop loss
of 403 has to be maintained.
 +91 84600 32788  support@shahadvisory.com
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