Rajesh Satpute

 
Senior Technical Analyst

 
Tel. : +91 – 22 – 6710 3042
rajesh.satpute@mangalkeshav.com

   
 
NSE Technical Outlook 26TH AUGUST 2010
Market close in red after witnessing serious profit booking in late hours of
__  trade. The midsession was pretty choppy & volatile where Nifty manages to
recover from the day’s low testing 5500 again. Mixed Global clues and poor
sentiments among the investor triggered fresh selling pressure which drags
Nifty till 5450 before closing. There could be increase in volatility as tomorrow
being August F&O Series expiry.
Sensex closed at 18179, down -131 points and Nifty at 5462 down -42 points
from the previous close. CNX Midcap index was down -1.49% and BSE Small
cap index was down -1.42%. The market breadth was positive with advances
at 266 against declines of 1108 on the NSE.
BANKING, TELECOM, TECH and TELECOM sectors are the one which
closed in green while market witnessed profit booking in INFRA, REALITY,
TEXTILE, PHARMA, OIL & GAS, SUGAR and AUTO.
Stocks performed positive are NALCO, RUCHI SOYA, IDEA, ORIENTAL
BANK, PATNI, ANDHRA BANK, CROMPTON GREAVES, MPHASIS,
STERLITE IND and PNB to name a few while stocks which closed in red are
ORBIT CORP, BIOCON, INDIA INFO, IBREAL ESTATE, PIRAMAL HEALTH,
UNITECH, NAGARJUNA CONST, PATEL ENGG and HDIL.
As expected, Nifty Future sentiments turned weak below 5550 level and
witnessed correction, testing 5450 level today. The technical breakdown below
5510 has weakened the Nifty Future chart. After testing 5450 level today Nifty
BSE Future is expected to bounce till 5510 level tomorrow but the undertone will
remain bearish. A breach below 5450 level will trigger further selling pressure
__  and Nifty future could slip to the next support of 5400 level.
On an intraday basis, Nifty spot should find (PIVOT) support near 5440 & 5419
level while the resistance will be at 5494 & 5527 level.

Market Turnover (Crores)

Exchange Turnover %Change
BSE Cash 4936.16 -12.12
NSE Cash 14248.28 2.48
NSE FNO 132277.27 35.45

Advance & Decline

Exchange Advance Decline Unchanged
BSE CASH 850 2133 84
NSE CASH 266 1108 23
 
Nifty Top Gainers
Indices Index Diff %Diff Symbol Close %Chg
NIFTY (SPOT) 5,462.35 -42.75 -0.78 IDEA 70.55 4.06
NIFTY (FUT) 5,464.30 -46.05 -0.84 STER 153.70 1.02
NSE – BANK NIFTY 10,937.85 -105.15 -0.95 PNB 1,196.10 0.69
CNX IT 6,109.95 -7.65 -0.13 RPOWER 154.70 0.68
SENSEX 18,179.64 -131.95 -0.72 ITC 160.50 0.41
MIDCAP 7,714.84 -116.99 -1.49
SMALLCAP 9,759.81 -141.08 -1.42 Nifty Top Losers
BSE CG 14,792.77 -78.02 -0.52 Symbol Close %Chg
BSE REALTY 3,490.10 -114.07 -3.16 UNITECH 80.35 -3.83
BSE METAL 14,994.73 -186.69 -1.23 DLF 311.55 -3.28
BSE AUTO 8,765.76 -128.17 -1.44 TATASTEEL 497.00 -3.26
BSE OIL &GAS 10,117.75 -56.75 -0.56 HINDALCO 163.65 -2.88
BSE POWER 3,069.88 -21.03 -0.68 CAIRN 344.30 -2.82

Mangal Keshav Securities Ltd : 501, Heritage Plaza, J. P. Road, Opp. Indian Oil Colony, Andheri (W), Mumbai – 400 053
 Mangal Keshav Securities Ltd

Technical Calls

ACC BUY CMP Rs.868.90 

‐  The stock looks bullish above Rs.860.00 and a

correction should be used to initiate a fresh long
position.

Buy the stock above Rs.860.00

Stop loss : Rs.850.00

Target : Rs.892.00 

‐   
 

2
 Mangal Keshav Securities Ltd

 
 
 
 
 
 
 
 
Trading Laws :
• Positional trade gives better returns than intraday trades.
• Short trades should be close within next 3 – 4 trading session as the market is in Bull Run & Visa versa.
• A Trade not observing STOP LOSS cannot survive for long.
• For Intraday Trader : Use Pivot Table for intraday Support and Resistance levels.
• Never re-schedule your stop loss, square up first and then take a fresh view.
• Book small losses by buying / selling near support / resistance, and look for big gains, this will maximize the gains.
• Don’t try to anticipate the change in main trend, so don’t go against trend.

Research Team
Shishir Manuj FMCG, Retail, Media 91-22 6710 3043 shishir.manuj@mangalkeshav.com
Mehul Mehta Capital Goods 91-22 6710 3044 mehul.mehta@mangalkeshav.com
Piyush Parag Automobiles, Shipping 91-22 6710 3041 piyush.parag@mangalkeshav.com
Nitin Bagde Technical Analyst 91-22 6710 3053 nitin.bagde@mangalkeshav.com
Rajesh Satpute Technical Analyst 91-22 6710 3042 rajesh.satpute@mangalkeshav.com
Pranav Mer Commodities 91-22 3068 7969 pranav.mer@mangalkeshav.com
Viral Shah Research Associate 91-22 6710 3049 viralshah@mangalkeshav.com
Jay Thakker Research Associate 91-22 6710 3046 jaythakker@mangalkeshav.com
Divyata Dalal Research Associate 91-22 6710 3050 divyata.dalal@mangalkeshav.com
Kakul Modani Research Associate 91-22 6710 3052 kakul.modani@mangalkeshav.com
Samir Shah Production Manager 91-22 6710 3055 samir.shah@mangalkeshav.com
Institutional Sales / Trading Desk
Roshan Shah Sr. Vice President, Institutional Sales 91-22 6710 3040 roshan.shah@mangalkeshav.com
Jatin Shah Sales Trader 91-22 6710 3037 jatin.shah@mangalkeshav.com
Amit Joshi Sales Trader 91-22- 6710 3038 amit.joshi@mangalkeshav.com
Madhukar Muravne Dealer 91-22 6710 3034/35 madhukar@mangalkeshav.com
Ashish Parekh Dealer 91-22 6710 3036 ashishparekh@mangalkeshav.com
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