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Daily Newsletter - 24-06-2013

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Daily Newsletter - 24-06-2013

  1. 1. SHAH ADVISORY2013Daily MorningNewsletter24-06-2013Vivek A. ShahW W W . S H A H A D V I S O R Y . C O M
  2. 2. Monday, 24th June 2013  - www.shahadvisory.comFollow us on Twitter - @equityadvisoryShah Advisory – Daily Morning Newsletter +91 84600 32788  support@shahadvisory.comSave Trees. Do not Print. Read Disclaimer on our website2BSE Sensex – 18774.23TREND / PERIOD DAILY WEEKLY MONTHLYDIRECTION DOWN DOWN UPTrend Change Level(Closing Basis)19550 19300 17750Overall trend is down on daily and weekly basis as on weekly chart it has gone below 18700 levels.We may see levels of around 18520 now and if sustain below it than 18100.Overall trend is down and weekly trend is also down. We are expecting levels of 18520 in comingdays. On the higher side, we are expecting it to face resistance around 19000 levels. Once sustainbelow 18500, we will see 18100 levels.S&P 500(USA) – 1592.43Overall trend is down. We mentioned that trend will turn positive only above 1656. Our buy call stoptriggered at 1636. It has support around 1600-1610 zones and below it, we may see levels of 1577 -1571 initially. We are expecting index to take support around these levels. If sustaining below theselevels on closing basis, than the more down side can be seen till the levels of 1550-1520 in comingweeks.Overall trend is down. It has touched the mentioned level of 1577. Any sustained close below thislevel will take the index to 1540-1545 zones. If sustain above 1577 than expect some bounce till1610-1615.AXIS BANK – 1259.70Overall trend is down. It has broken the support of 1260 and went to around 1232 levels. We maysee levels of around 1200 in the stock.Overall trend is down. It is trading near to resistance level of 1260. Also if sustain above 1270, thanlook for short term buying. Long term investors may look for entry around 1200 levels.ICICI BANK – 1044.85Overall trend is down. We are expecting levels of 1024-1005 in the stock. Long term investors maylook this range to buy 60% quantity this time.Overall trend is down. It has touched the level of 1026. Very important support zone for the stock is1024-1005. As we already mentioned, long term investors may look entry around that level with 60%of the total quantity. On the higher side, if sustain above 1066, we may see some upside till 1080. Itis better to trade with small quantity keeping stop at 1040.RELIANCE INDUSTRIES – 792.85Overall trend will turn down below 792. Our trailed stop triggered at 820. Again we may see levels of780 – 768 if falls below 792.Overall trend is down. It has touched the level of 783. Some upside till 805 is possible.
  3. 3. Monday, 24th June 2013  - www.shahadvisory.comFollow us on Twitter - @equityadvisoryShah Advisory – Daily Morning Newsletter +91 84600 32788  support@shahadvisory.comSave Trees. Do not Print. Read Disclaimer on our website3TATA MOTORS – 287.05Overall trend is down. Again it is coming near to the support area of 280-282. Any weekly closebelow this level will take it to 260-264 levels.Overall trend is down. Look for going short if it comes near to 295 levels keeping stop at 302.TATA STEEL – 272.05Overall trend is down. Below 270, we may see levels of 265-258.Overall trend is down. It has attained the level of 265 as mentioned. Now again below 265, it will goto 258 levels. On the higher side, above 282, we may see some upside, till that the trend will remainweak.SBI – 1989.10Overall trend is down. It will find support around 1965 levels.Overall trend is down. It has taken the support at the mentioned level of 1965. Above 2012, someupside till 2038 is possible. Buy only if sustain above 2040.USDINR – SPOT – 59.26Overall trend is positive. We advised to book profit during live market for remaining positionsaround 59.87 levels. 60.07 looks to be very important resistance and we are not expecting it to crossthis level on closing basis, before giving some retracement to some lower levels that we will discusslater.Overall trend is positive. We are expecting levels of around 58.65-58.70 in coming days. On thehigher side, it will turn positive only above 59.80.
  4. 4. Monday, 24th June 2013  - www.shahadvisory.comFollow us on Twitter - @equityadvisoryShah Advisory – Daily Morning Newsletter +91 84600 32788  support@shahadvisory.comSave Trees. Do not Print. Read Disclaimer on our website4Stocks with Positive BreakoutStock Name Buying RangeABB 618SCI 39.60Maruti 1563OFSS 2760Stocks with Negative BreakoutStock Name Selling RangeOrchid Chem. 48.50Sun Pharma 940NOTE –Red colour – Last View / update on the scripGreen colour – Current View / update on the scripYOU CAN ALSO VIEW THIS REPORT ON THE WEB-

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