Daily Newsletter -24-07-2013

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Daily Newsletter -24-07-2013

  1. 1. passSHAH ADVISORY 2013 Daily Morning Newsletter 24-07-2013 Vivek A. Shah W W W . S H A H A D V I S O R Y . C O M
  2. 2. Wednesday, 24th July 2013  - www.shahadvisory.com Follow us on Twitter - @equityadvisory Shah Advisory – Daily Morning Newsletter  +91 84600 32788  support@shahadvisory.com Save Trees. Do not Print. Read Disclaimer on our website 2 BSE Sensex – 20302.13 TREND / PERIOD DAILY WEEKLY MONTHLY DIRECTION UP UP UP Trend Change Level (Closing Basis) 19400 19300 17750 Overall trend is positive. Hold to the long positions and we may see some more upside till 20350- 20400. But we are not advising to initiate fresh long positions now and also we advise to look for booking profit from current levels to 20350 levels. For long positions, keep stop at 19950. If sustain below it than exit as well as look for shorting. Overall trend is positive. As we mentioned, levels of 20350 attained. Those holding longs need to book profit around 20350-20400 levels as we have already recommended. Hold long positions, if not booked, with stop at 20000. We may see higher levels of 20400-20450 in coming days. Once the index closes below 20300, we may see some profit booking. S&P 500(USA) – 1695.53 Overall trend is positive. Look for booking full profit around 1695-1700 levels. We are not expecting this rally to sustain above 1702 levels closing basis. Overall trend is positive. Our target has attained so booked full profit and exited from the position. AXIS BANK – 1202.85 Overall trend is down. Overall resistance is at 1256. Buy if sustain above 1211 for very short term perspective with stop at 1171. Alternatively, if sustain below 1171, than go short. Overall trend is down. Those holding long positions need to keep stop at 1171. ICICI BANK – 989.65 Overall trend is down. Hold short positions with stop at 995. Overall trend is down. Once it trades above 995, exit from short positions. If sustain below 982, we may see lower levels. Also if sustain above 995 than look for buying. RELIANCE INDUSTRIES – 909.55 Overall trend is positive. It has attained the target of 920-925 as recommended by us, so booked full profit and exited form the positions. If sustain below 898 than go short with stop at 915. Overall trend is positive. If sustain below 905, look for going short. TATA MOTORS – 298.80 Overall trend is positive but we may see resistance around 299-300 levels. Any close above that level will make it good buying opportunity. Overall trend is positive. Buy if trades above 302.
  3. 3. Wednesday, 24th July 2013  - www.shahadvisory.com Follow us on Twitter - @equityadvisory Shah Advisory – Daily Morning Newsletter  +91 84600 32788  support@shahadvisory.com Save Trees. Do not Print. Read Disclaimer on our website 3 TATA STEEL – 234.60 Overall trend is down. Long term investors, we have already bought few quantities around 265-275 zone. Now look for levels of 210-220 to buy, if comes. Short term traders may buy if sustain above 243. Overall trend is down. Only risky traders may buy if trades above 237. SBI – 1860.95 Overall trend is down. Our stop loss at 1800 triggered so exited from the position. Buy if it sustain above 1841. Go short if sustain below 1810. Overall trend is down. Hold long positions with stop at 1820 and look for higher levels of 1880-1900 to book profits. USDINR – SPOT – 59.7550 Overall trend is positive. Long position stop triggered. Look for buying if trades above 59.75 with stop at 59.50. Overall trend is positive. Hold long positions with stop at 59.50 and look for higher levels of 60-60.20 to book profit.
  4. 4. Wednesday, 24th July 2013  - www.shahadvisory.com Follow us on Twitter - @equityadvisory Shah Advisory – Daily Morning Newsletter  +91 84600 32788  support@shahadvisory.com Save Trees. Do not Print. Read Disclaimer on our website 4 Stocks with Positive Breakout Stock Name Buying Range - - Stocks with Negative Breakout Stock Name Selling Range - - NOTE – Red colour – Last View / update on the scrip Green colour – Current View / update on the scrip YOU CAN ALSO VIEW THIS REPORT ON THE WEB-

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