Eagle Eye Equities

May 22, 2019

Index
Punter’s Call
Looking Trendy
Nifty Day Trader
Momentum Swing
Bank Nifty
Bank Nifty Day Trader
Day Trader’s Hit List

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Sharekhan Eagle Eye Equities

Punter’s Call
Hurdles act tough

May 21, 2019 Nifty daily: 11,709.10

At the beginning of the session, the bulls attempted

to build on Monday’s gains. They managed to take
out the all time high of 11856 & registered a new
high of 11883. Also, the index crossed the upper
end of a multi -month Ending Diagonal pattern by
a small margin. In the higher territory, however, the
Nifty couldn’t hold on to its gains. The bears rushed
in soon after the opening and imposed themselves
on the market as the day progressed. Thus, the
distribution pattern looks complete at today’s high.
In terms of the candlestick patterns, the index has
60-minute
formed a Dark Cloud Cover on the daily chart. The
bearish candlestick pattern, having formed near a
crucial resistance zone, also indicates that a short to
medium term top is in place at the high of 11883. The
same is the case with broader market indices where
the pullback looks done at the respective highs for
the day. On the downside, 11591 & 11426 are the key
levels for the Nifty for the short term

Other technical observations

On the daily chart, the Nifty is above the 20-day

moving average (DMA) and the 40-DEMA, i.e. 11512 Market breadth
and 11455 respectively. The momentum indicator is in BSE NSE
bullish mode on the daily chart. Todays Close 38,969.80 11,709.10
Advances 974 609
On the hourly chart, the Nifty is above the 20-hour Decline 1578 1145
moving average (HMA) and the 40-HEMA, i.e. 11638 Unchanged 160 343
and 11531 respectively. The hourly momentum Volume (Rs.) 3,172.09 cr 37,225.50 cr
indicator is in bearish mode. The market breadth was
negative with 609 advances and 1145 declines on the
National Stock Exchange.

May 22, 2019 2

Sharekhan Eagle Eye Equities

Looking Trendy
Short Term Trend Medium Term Trend
Support / Support /
Index Target Trend Reversal Index Target Trend Reversal
Resistance Resistance
á á
Nifty 11000 12000 11000 / 12000 Nifty 10400 12000 10400 / 12000

NOTE: Reversal on closing basis NOTE: Reversal on closing basis

Icon guide
á
á

á á
Up Down Sideways Downswing matures Upswing matures

Nifty Day Trader

Support Resistance
11592 11795
11512 11884
11455 11951
20 DSMA 40 DEMA
11512 11455

Momentum Swing
Poten-
Call
Action Stop Loss/ Buy Price/ tial% P/L
Scrip Name Action Closing Target 1 Target 2
Date Reversal Sell Price at Exit/
Price/CMP
Current
21-May-19 Rel Infra May Fut Sell 125.00 119.30 118.45 0.71% 112 105
NOTE: Kindly note that all stop losses in Momentum swing are on an intra-day basis.
TPB: Trailing profit booked
1) The stop loss should be placed after 9.17am in order to avoid freak trade
2) The same will be revised in the TradeTiger terminal every day for the pop-ups

May 22, 2019 3

Sharekhan Eagle Eye Equities

Bank Nifty
Short Term Trend Medium Term Trend
Support / Support /
Index Target Trend Reversal Index Target Trend Reversal
Resistance Resistance
á á
Bank Nifty 28000 31480 28000 / 31480 Bank Nifty 25800 31480 25800 / 31480

NOTE: Reversal on closing basis NOTE: Reversal on closing basis

Icon guide
á
á
á á
Up Down Sideways Downswing matures Upswing matures

Bank Nifty Day Trader Bank Nifty Daily

Support Resistance

30111 30748

29835 30927

29468 31393

20 DSMA 40 DEMA

29468 29356

May 22, 2019 4

Sharekhan Eagle Eye Equities

Day Trader’s Hit List

For May 22, 2019
Support Levels Close Resistance Levels
Scrip Name Action
S2 S1 (Rs.) R1 R2
NIFTY Futures 11546.0 11687.0 11,724.00 11797.0 11895.0 Buy Above R1

Bank Nifty Futures 30060.0 30300.0 30,400.00 30635.0 31000.0 Buy Above R1

Axis Bank 752.0 765.0 773.00 781.0 805.0 Buy Above R1

Bajaj Finance 3343.0 3375.0 3,439.00 3488.0 3525.0 Buy Above R1

BHEL 59.0 62.8 63.30 65.1 67.8 Buy Above R1

BPCL 351.0 368.0 375.00 379.0 383.0 Buy Above R1/ Sell Below S1

HDFC 2074.0 2100.0 2,118.00 2148.0 2210.0 Buy Above R1/ Sell Below S1

HDFC Bank 2364.0 2388.0 2,409.00 2429.0 2475.0 Buy Above R1/ Sell Below S1

Hindustan Unilever 1760.0 1772.0 1,788.00 1798.0 1819.0 Buy Above R1

INFOSYS 693.0 704.0 709.00 714.0 728.0 Sell Below S1

ICICI Bank 392.0 397.0 400.50 406.0 421.0 Buy Above R1/ Sell Below S1

LIC Housing 509.0 518.0 526.00 535.0 549.0 Buy Above R1

LNT 1418.0 1437.0 1,446.00 1462.0 1500.0 Buy Above R1/ Sell Below S1

Reliance Industries 1316.0 1333.0 1,340.00 1367.0 1417.0 Buy Above R1/ Sell Below S1

SBI 326.0 331.0 337.00 340.0 356.0 Buy Above R1

SunPharma 393 402 409.00 417 429 Buy Above R1

Tata Motors 158.0 174.0 177.50 180.0 191.0 Buy Above R1/ Sell Below S1

TISCO 455.0 468.7 472.40 476.0 493.0 Buy Above R1/ Sell Below S1

TCS 2063.0 2100.0 2,108.00 2134.0 2152.0 Buy Above R1/ Sell Below S1

Yes Bank 132.0 138.0 141.20 145.0 151.0 Buy Above R1/ Sell Below S1

*Note: Closing price of Nifty futures is last traded price of Nifty futures on NSE
SL=Stoploss

May 22, 2019 5

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