The document provides a technical analysis of the Nifty, Bank Nifty, Tata Steel stock, and derivatives. For Nifty, it notes a sharp bounce but sellers trying to dominate, and recommends buy positions above 8030 and sell below 7950. For Bank Nifty, it recommends buy above 15900 and sell below 15400. For Tata Steel, it recommends buy above 473 with a target of 520. It also provides support and resistance levels for various stocks and recommends overall bullish or bearish positions.

1. 10th
Oct’14 Equity Bazaar
Nifty
Nifty Technical View:
 In yesterday’s trading session Nifty has bounced sharply but during mid-session sellers tried to dominate the market right
but lose them strength & finally once again Nifty bounced & gave closing near intraday high.
 Moving Average: In 2 Hourly chart Nifty had tested its 50 EMA (7985 levels), downward direction which is lesser than 100
EMA (8039 levels).
 Fibonacci Analysis: Nifty had verified its 61.8% Fibonacci Retracement (7879 level) & the pull-back could get extended
toward 8050 (multiple resistance area), comprising of the apex formation 100-Hr SMA, & breaking the 23.6% retracement
level of 8050 up-move could be bullish move for the Nifty.
 RSI: Oscillator RSI is on bullish mode with positive direction which suggests upside is still left.
 Conclusion: On-2hourly chart, the pair has managed to hold a support near 7955 level 38.2% Fibonacci Retracement.
Should the pair now break above the down trend line then the immediate resistance, is likely to continue with its bounce
towards 8050 levels or Should the pair now break below this immediate support at 7955, it is likely to continue with its
corrective move towards 7870/7800 levels. For aggressive trader & for passive traders, the upward or downward rally can
continue but for confirmation one should wait for breakout wait & watch policy is good for this situation.
Resistance: R1 8020 R2 8057 R3 8143
Pivot : PL 7971
Support : S1 7934 S2 7885 S3 7800
Our Recommendation
Buy Nifty above 8030 Stop Loss 8000 Target 8100.
Sell Nifty below 7950 Stop Loss 7970 Target 7880.

2. 10th
Oct’14 Equity Bazaar
Bank Nifty
Bank Nifty Technical View:
 Yesterday, Bank Nifty gave sharp bounce after the gap up opening & buyers continued to dominate the market right from
its lower level. Finally Bank Nifty has given almost 324 points upward rally from its day low.
 Candlestick Pattern: According to Daily chart, Bank Nifty has made “Long Green Candle” which means bulls were more
aggressive & demanded more & more share whatever prices increases.
 Moving Average: In 2-hourly chart, The Bank Nifty is trading above the 50 EMA (15583) & near 100 EMA (15890) with
broad distance which is an indication of ongoing bearish trend.
 Fibonacci Analysis: On the upside, 15889 the 23.6% Fibonacci levels are likely to provide immediate resistances to this pair,
breaking which it can extend the upward rally towards the 16347 levels. Moreover, a sustained trading above 15606 can
cause the pair 38.2% Fibonacci level considering the strong support.
 RSI: RSI currently near 65.92 levels & it is expected to bounce to 70 levels.
 Conclusion: The charts suggest that Bank Nifty may bounce further and expecting to breach the resistance at 15890. A key
resistance lies at 15890 (see also the 200 Hour moving average) for belligerent trader & for flaccid traders wait & watch
policy is good in this situation.
Resistance: R1 15955 R2 16107 R3 16500
Pivot : PL 15717
Support : S1 15565 S2 15327 S3 14940
Our Recommendation
Buy BNF above 15900 Stop Loss 15800 Target: 16300.
Sell BNF below 15400 Stop Loss 15500 Target: 15000.

3. 10th
Oct’14 Equity Bazaar
Stock of the Day
TATA STEEL View:
 After sideway correction Tata Steel has given downward trend line breakout and in yesterday’s trading session, we had
seen gap up opening in Tata Steel.
 Candlestick Pattern: On daily chart we have seen “Bullish Engulfing Candlesticks” which clearly say’s buyers are
demanded more & more share whatever prices increases. This could be the pre intimation of trend reversal.
 Moving Average: In Daily chart, Tata Steel has traded near its 50 SMA & below its 100 SMA.
 RSI: RSI currently trade near 56.82 levels expecting that still lots of upside is still left.
 Conclusion: The charts suggest that Tata Steel trades in upside track consequently tumble can be used as buying
opportunities to test sophisticated levels for the day. For short term there is a possibility of upward rally and the next
resistance would be watch around Rs.486/515 level.
Resistance : R1 472 R2 477 R3 489
Pivot : PL 465
Support : S1 440 S2 452 S3 439
Our Recommendation
Buy Tata Steel above 473 Stop Loss 465 Target: 520

4. 10th
Oct’14 Equity Bazaar
Derivative Analysis
 FIIS Data: FII’s are the net Seller on 9
th
October 2014 is Rs 20.89 Cr and Dll’s are the net Buyer on
9
th
October 2014 is Rs 623.24 Cr.
 Option Data: 8200 CE has the highest OI with 60 lakhs and 8100 CE has the second highest OI with 52 lakhs and
7800 PE has the highest OI with 63 lakhs and 7900 PE has the second highest OI with 51 lakhs.
 Open Interest: The above options data shows nifty has now a strong support at 8000 and resistance at 8200 the
trend change level as per option data is 8100.
 Intraday Option Strategy: (A) Buy Nifty 8000 calls and Sell Nifty 8200 puts if buy level is breached.
(B) Sell Nifty 8200 calls and Buy Nifty 7700 puts if sell level is breached.

5. 10th
Oct’14 Equity Bazaar
Symbol S3 S2 S1 P R1 R2 R3 Trend Action
ACC 1322.48 1369.28 1399.17 1416.08 1445.97 1462.88 1509.68 UP Buy
AMBUJACEM 199.97 207.07 211.43 214.17 218.53 221.27 228.37 UP Buy
ASIANPAINT 614.83 632.88 644.02 650.93 662.07 668.98 687.03 UP Buy
AXISBANK 368.47 377.27 382.33 386.07 391.13 394.87 403.67 UP Buy
BAJAJ-AUTO 2267.32 2315.27 2345.68 2363.22 2393.63 2411.17 2459.12 UP Buy
BANKBARODA 834.03 853.83 862.47 873.63 882.27 893.43 913.23 Down Sell
BHEL 192.15 203.95 211.5 215.75 223.30 227.55 239.35 UP Buy
BPCL 643.58 659.23 665.47 674.88 681.12 690.53 706.18 Down Sell
BHARTIARTL 386.3 395.15 400.05 404.00 408.90 412.85 421.7 UP Buy
CAIRN 285.52 291.32 294.93 297.12 300.73 302.92 308.72 UP Buy
CIPLA 559.03 576.83 584.27 594.63 602.07 612.43 630.23 Down Sell
COALINDIA 330.67 336.72 340.03 342.77 346.08 348.82 354.87 UP Buy
DLF 141.75 146.95 149.9 152.15 155.10 157.35 162.55 UP Buy
DRREDDY 2817.47 2906.62 2946.58 2995.77 3035.73 3084.92 3174.07 Down Sell
GAIL 429.15 437.8 442.3 446.45 450.95 455.1 463.75 UP Buy
GRASIM 3372.6 3432.4 3464.6 3492.20 3524.40 3552 3611.8 UP Buy
HCLTECH 1614.17 1653.17 1674.33 1692.17 1713.33 1731.17 1770.17 UP Buy
HDFCBANK 833.53 858.23 872.92 882.93 897.62 907.63 932.33 UP Buy
HEROMOTOCO 2750.32 2784.32 2801.63 2818.32 2835.63 2852.32 2886.32 UP Buy
HINDALCO 141.02 148.42 153.13 155.82 160.53 163.22 170.62 UP Buy
HINDUNILVR 708.62 723.07 731.08 737.52 745.53 751.97 766.42 UP Buy
HDFC 985.63 1010.78 1026.72 1035.93 1051.87 1061.08 1086.23 UP Buy
ITC 356.98 361.43 363.47 365.88 367.92 370.33 374.78 Down Sell
ICICIBANK 1399.8 1439.6 1464.00 1479.40 1503.80 1519.2 1559 UP Buy
IDFC 134.28 137.18 138.97 140.08 141.87 142.98 145.88 UP Buy
INDUSINDBK 608.17 617.42 621.78 626.67 631.03 635.92 645.17 Down Sell
INFY 3486.03 3574.13 3610.47 3662.23 3698.57 3750.33 3838.43 Down Sell
JINDALSTEL 153.98 160.43 163.07 166.88 169.52 173.33 179.78 Down Sell
KOTAKBANK 968.18 992.68 1007.97 1017.18 1032.47 1041.68 1066.18 UP Buy
LT 1405.47 1441.97 1464.43 1478.47 1500.93 1514.97 1551.47 UP Buy
LUPIN 1281.93 1311.23 1324.77 1340.53 1354.07 1369.83 1399.13 Sideway No Action
M&M 1308.72 1339.12 1353.13 1369.52 1383.53 1399.92 1430.32 Down Sell
MARUTI 2888.48 2941.03 2973.62 2993.58 3026.17 3046.13 3098.68 UP Buy
NMDC 153.37 157.37 158.98 161.37 162.98 165.37 169.37 Down Sell
NTPC 139.05 141.2 142.05 143.35 144.20 145.5 147.65 Down Sell
ONGC 396.23 403.58 407.52 410.93 414.87 418.28 425.63 UP Buy
POWERGRID 134.88 136.48 137.27 138.08 138.87 139.68 141.28 Down Sell
PNB 855.62 877.62 891.23 899.62 913.23 921.62 943.62 UP Buy
RELIANCE 911.93 930.98 942.82 950.03 961.87 969.08 988.13 UP Buy
SSLT 250.27 255.52 258.68 260.77 263.93 266.02 271.27 UP Buy
SBIN 2323.02 2395.52 2437.53 2468.02 2510.03 2540.52 2613.02 UP Buy
SUNPHARMA 772.33 791.68 803.22 811.03 822.57 830.38 849.73 UP Buy
TCS 2631.68 2668.48 2687.27 2705.28 2724.07 2742.08 2778.88 UP Buy
TATAMOTORS 500.4 509.6 515.1 518.80 524.30 528 537.2 UP Buy
TATAPOWER 79.53 81.73 83.12 83.93 85.32 86.13 88.33 UP Buy
TATASTEEL 440.12 452.42 459.98 464.72 472.28 477.02 489.32 UP Buy
TECHM 2121.12 2238.42 2287.43 2355.72 2404.73 2473.02 2590.32 Down Sell
ULTRACEMCO 2492.88 2531.73 2551.27 2570.58 2590.12 2609.43 2648.28 UP Buy
WIPRO 552.92 571.82 579.53 590.72 598.43 609.62 628.52 Down Sell
ZEEL 288.58 304.43 314.67 320.28 330.52 336.13 351.98 UP Buy

6. 10th
Oct’14 Equity Bazaar
Amit Pawar (Research Associate) amit.pawar@choiceindia.com
Rohan Shinde (Research Associate) rohan.shinde@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
For Private Circulation Only Website: www.choiceindia.com
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7. 10th
Oct’14 Equity Bazaar
Disclaimer
This is solely for information of clients of Choice India and does not construe to be an investment advice. It is also
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recommendation, but Choice India or any of its subsidiaries or associates or employees shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information
contained in this recommendation or any action taken on basis of this information. Technical analysis studies
market psychology, price patterns and volume levels. It is used to forecast future price and market movements.
Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued
herewith might be contrary to recommendations issued by Choice India in the company research undertaken as
the recommendations stated in this report is derived purely from technical analysis. Choice India has based this
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interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.