SlideShare a Scribd company logo
SEBI Registered – Research Analyst
On daily chart it can be observed that prices are trading
near it’s crucial support level of 100.20 where it has taken
support for multiple times.
However, after looking at the impulsive down move in the
aluminium price, we expect prices should breach it’s
multiple support level of 100.20 and could drift lower.
Moreover the momentum indicator, RSI has taken
resistance near 40 and turned lower which gives negative
confirmation to the prices.
MACD has crossed Signal line below Zero which would add
bearishness to the prices.
Prices are trading below it’s 100 day moving average as
well as the super trend indicator suggest the current trend
is bearish .
Based on the above technical setup, we expect prices could
drift lower towards 94.5 levels in few trading sessions as
long as 104 levels are capped on higher side.
Sell Aluminium @ 100.65 SL 104 TGT 94.5
06th Oct 2015
TECHNO Sell
*Please Refer Disclaimer on Website WWW.CHOICEINDIA.COM
www.choiceindia.com
Contact Us
Disclaimer
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the
information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the
correctness and authenticity of the information contained in this recommendation, but Choice Broking 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 Broking in the company research undertaken as the recommendations stated in
this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or
warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and
any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report
however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification,
copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance
may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
www.choiceindia.comcustomercare@choiceindia.com
Research Team
Mr. Sumeet Bagadia Associate Director
Ritesh Patel Research Associate
Amit Pathania Research Associate
Trirashmi Ghoderao Research Advisor
Neeraj Yadav Research Advisor
Kunal Parmar Research Associate
Vikas Chaudhari Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
TECHNO Sell 06th Oct 2015
Ritesh Patel
Digitally signed by Ritesh Patel
DN: cn=Ritesh Patel, o=Choice Merchandise Broking Pvt. Ltd.,
ou=Research Department, email=ritesh.patel@choiceindia.com, c=IN
Date: 2015.10.06 23:11:22 +05'30'

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Techno sell aluminium 06.10.15

  • 1. SEBI Registered – Research Analyst On daily chart it can be observed that prices are trading near it’s crucial support level of 100.20 where it has taken support for multiple times. However, after looking at the impulsive down move in the aluminium price, we expect prices should breach it’s multiple support level of 100.20 and could drift lower. Moreover the momentum indicator, RSI has taken resistance near 40 and turned lower which gives negative confirmation to the prices. MACD has crossed Signal line below Zero which would add bearishness to the prices. Prices are trading below it’s 100 day moving average as well as the super trend indicator suggest the current trend is bearish . Based on the above technical setup, we expect prices could drift lower towards 94.5 levels in few trading sessions as long as 104 levels are capped on higher side. Sell Aluminium @ 100.65 SL 104 TGT 94.5 06th Oct 2015 TECHNO Sell *Please Refer Disclaimer on Website WWW.CHOICEINDIA.COM
  • 2. www.choiceindia.com Contact Us Disclaimer This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking 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 Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No. www.choiceindia.comcustomercare@choiceindia.com Research Team Mr. Sumeet Bagadia Associate Director Ritesh Patel Research Associate Amit Pathania Research Associate Trirashmi Ghoderao Research Advisor Neeraj Yadav Research Advisor Kunal Parmar Research Associate Vikas Chaudhari Research Associate Rajnath Yadav Research Associate Satish Kumar Research Associate TECHNO Sell 06th Oct 2015 Ritesh Patel Digitally signed by Ritesh Patel DN: cn=Ritesh Patel, o=Choice Merchandise Broking Pvt. Ltd., ou=Research Department, email=ritesh.patel@choiceindia.com, c=IN Date: 2015.10.06 23:11:22 +05'30'