The document provides a daily technical analysis of the Nifty and Sensex stock indices in India. It summarizes that the Nifty closed 13 points higher in lackluster trading within a narrow range. On the daily chart, the Nifty is in an uptrend forming higher tops and bottoms. Key support levels are at 10620 and resistance at 10650, above which the index could rise to 10700. The technical indicators are positive and the trend will continue upwards as long as the index remains above 10635. Stocks that could see gains intraday are listed, while stocks that could see losses are also mentioned.

1. Technical View (Equity)
Daily call
Index CMP % up/dn S2 S1 P R1 R2
Nifty 10,637.00 0.13% 10580 10605 10635 10665 10690
Sensex 34443.19 0.26% 34280 34360 34425 34505 34570
Nifty Daily Chart
Comments:
Nifty opened with an upward gap and remained lackluster within narrow trading range throughout the
day. Nifty closed at 10637 with a gain of 13 points.
On the daily chart the index has formed a small Bearish candle with shadows on either side indicating
indecisiveness amongst participants regarding the direction. The index is moving in a Higher Top and
Higher Bottom formation on the daily chart indicating sustained up trend. The chart pattern suggests
that if Nifty crosses and sustains above 10650 level it would witness buying which would lead the index
towards 10670-10700 levels. Important Supports for the day is around 10620 However if index sustains
below 10620 then it may witness profit booking which would take the index towards 10600-10570
levels.. Nifty is trading above 20, 50 and 100 day SMA's which are important short term moving
averages, indicating positive bias in the short to medium term. Nifty continues to remain in an uptrend
in the short and medium term, so buying on dips continues 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 10635. If NIFTY trades above this level then we may witness a
further rally up to 10665-10690-10720 levels. However, if NIFTY trades below 10635 levels then we may
see some profit booking initiating in the market, which may correct up to 10605-10580-10550 levels
Stocks to focus for intraday Long JKIL, Swanenergy, JbfInd., Ncc, VipInd., Dlf,
Arvind, Voltas
Stocks to focus for intraday Short Nmdc, Jetairways