Daily Technical Report

F O R P R I V A T E C I R C U L A T I O N O N L Y

18 June 2 0 0 8

NIFTY 4653.00
Intra Day
Volatility 112 pts
S1 4588.88
S2 4523.95
R1 4690.80
R2 4738.00

SENSEX 15696.90
Intra Day
Volatility 342 pts
S1 15527.45
S2 15255.30
R1 15833.75 S&P Nifty (4653.00 points) (+80.50 pts)
R2 15970.65
It was a terrific Tuesday as the Bulls fired from all cylinders. After
a flat opening, they held together preventing the Bears from
TREND Direction penetrating. Banking and CGS sector bounced while Oil & Gas
stocks fuelled the rally. Trapped intraday Bears had no option but
Short Term DN
to give up which propelled the rise further closing the Indices at the
Medium Term DN days high. Midcap stocks also joined the bandwagon which is
reflected in the A/D ratio (3:1) with volumes almost the same.
Long Term UP
In this process, the Nifty has closed above the channel in orange. It
has retraced 50% of the fall from 4957 to 4369 points and almost
AVERAGES 38.2% of the fall from 5167-4369 points. As anticipated it has hit the
Daily upper band of the supply area at 4614-4640 points. Major hurdle at
4756 points (BSE 16K) is still away, till then the Bulls cannot rest
13 sma 4613.25 in peace. High risk contrarian traders can book part profits in
34 sma 4833.44 rallies and raise stop loss to 4488 points (preferably in close).
89 sma 4921.53
Intraday, 4614 points is the pivot in the Nifty while crucial support
in declines is at 4581 points. Resistance is pegged at 4690-4713
NIFTY Intra Week points and up at 4738 in optimistic scenario. The Bulls are
Volatility 244 pts absorbing the selling pressure and steadily moving up. Now the
S1 4382.56 onus is on the Bears, they need to apply their entire might and
suppress the rise below 4700 points. Keep appropriate stop losses
S2 4247.80
and trade.
R1 4639.10
R2 4772.45
Power Fin (PFC) Buy in dips CMP: 125.80 Tgt: 136-141

The daily candlestick chart of PFC shows that it is in a short term downtrend. It has
closed above resistance at Rs.125 after a vertical decline from Rs.189 to Rs.113.50.
Support line of the channel in blue will act as resistance. If it sustains above
Rs.125 for a couple of sessions it can test 136-141 in the next 7-8 trading
sessions which if sustained on volumes Rs.147-153 in the coming 3-4 weeks.
Stop loss is pegged below Rs.117 in close.

* Avoid gap openings and trade in cash.

* ST - short term, MT - medium term

 Intra Day Range for 18/06/2008
Scrip Close R1 R2 S/R S2 S1

A.C.C. 637.60 641.35 645.05 636.30 627.55 632.60

ABB LTD. 962.95 974.20 985.50 966.20 946.90 954.90

BHARTI TELE 833.65 839.35 845.05 832.30 819.55 826.60

BHEL 1539.30 1566.20 1593.10 1544.10 1495.10 1517.20

BOM DYEING 763.70 787.70 811.75 744.95 678.15 720.90

CENTURY TEXT 617.45 631.85 646.30 606.55 566.80 592.10

HIND.LEVER 236.40 239.30 242.25 234.90 227.55 231.95

ICICI BANK 820.25 833.85 847.45 809.70 771.95 796.10

INFOSYS TECH 1913.30 1929.55 1945.75 1908.80 1871.85 1892.60

ITC LTD. 203.00 205.05 207.05 202.80 198.55 200.80

LARSEN & TOU 2839.20 2892.80 2946.40 2806.40 2666.40 2752.80

MAHA.TELE 95.75 96.60 97.40 95.55 93.70 94.75

MARUTIUDYOG 755.60 775.10 794.55 746.55 698.55 727.10

ONGC CORPN 884.45 909.60 934.80 872.80 810.80 847.60

PUNJ LLOYD 276.20 281.65 287.10 272.95 258.80 267.50

RANBAXY LAB. 581.45 591.60 601.80 577.80 553.80 567.60

REL COMM 530.20 536.15 542.15 530.70 519.25 524.70

REL CAP 1166.55 1192.85 1219.10 1151.45 1083.80 1125.20

RELIANCE 2329.20 2355.40 2381.60 2308.70 2235.80 2282.50

SATYAM COM 484.30 489.90 495.55 484.45 473.35 478.80

SIEMENS LTD. 494.05 498.50 502.95 493.25 483.55 488.80

STATE BANK 1387.05 1412.40 1437.70 1368.70 1299.70 1343.40

STERLITE IND 798.35 807.10 815.80 796.30 776.80 787.60

SUZLONENERGY 244.65 247.35 250.10 244.00 237.90 241.25

TATA MOTORS 519.45 524.25 529.10 519.15 509.20 514.30

TATA STEEL 849.65 858.60 867.50 847.10 826.70 838.20

TCS LTD. 921.40 931.20 940.95 917.25 893.55 907.50

TITAN IND. 1099.65 1126.10 1152.55 1080.55 1008.55 1054.10

TATA COMM . 433.25 439.85 446.40 434.45 422.50 427.90

WIPRO LTD. 494.45 501.90 509.30 491.50 473.70 484.10

S/R indicates the immediate support/resistance depending on the

closing price.
 Intra Day Range for 17/06/2008

Scrip Close R1 R2 S/R S2 S1

BANKNIFTY 6396.45 6558.20 6639.10 6334.10 6029.10 6253.20

CNXIT 4397.40 4427.70 4442.85 4388.85 4334.85 4373.70

JUNIOR 7729.80 7834.85 7887.35 7692.45 7497.55 7639.95

NIFTY FUTS. 4634.70 4688.30 4715.10 4620.70 4526.30 4593.90

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