A Sharekhan technical research newsletter

For September 26, 2016

Punters Call

Critical expiry week ahead

Market on September 23, 2016: Reversed from the channel

Nifty daily: 8,831

KST (0.38219)
3.0

3.0

2.5

The Nifty started todays trading session in the positive

territory, but closed in the negative territory after
reversing from the upper end of the rising channel
formed on the hourly charts. The Index has retraced
between 61.8% and 78.6% of the recent fall from 8968.70
to 8688.90. Therefore, the retracement seems to have
ended. Now, the wave C/W of wave IV down seems to
have ensued with todays negative close. The minimum
equality target on the downside comes to 8617 levels.

2.5

2.0

2.0

1.5

1.5

1.0

1.0

0.5

0.5

0.0

0.0

-0.5

-0.5
- NSE50 [NIFTY] (8,880.75, 8,885.20, 8,820.30, 8,825.15, -36.5996)

9050

9050

9000

9000

100.0%

8950

8950

8900

8900
61.8%

8850

8850

50.0%
38.2%

8800

8800

23.6%

8750

8750

0.0%

8700

8700

8650

8650

8600

8600

8550

8550

8500

8500

8450

8450

8400

8400

8350

8350

8300

8300

8250

8250

8200

8200

8150

8150

8100

8100

8050

8050

8000

8000

7950

Now, a price confirmation of the breakdown will

materialise once the swing low of 8757 is broken, since
that will confirm that the rise this week was a threewave advance, which was more of a corrective move.
Therefore, it will be termed as a dead cat bounce. On
the upside, 8909 is the 78.6% retracement level and any
close above those levels will definitely mean that the
downside is over and the next upmove has started. So,
the broader range for the Nifty is 8909 to 8617 levels.

7950

7900

7900

7850

7850

20

27

4
July

11

18

25

1
August

16

22

29

6
September

12

19

26

3
October

10

60-minute
9050

9000
100.0%
8950
78.6%

8900

61.8%
8850
50.0%
8800

38.2%

23.6%

8750

8700

0.0%

8650

Other technical observations

8600
1.5

KST (0.35014)

1.0
0.5

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

moving average (DMA) and the 40-DMA, ie 8780 and 8690,
respectively. The momentum indicator is in a negative
mode on the daily chart.
On the hourly chart, the Nifty is trading below the 20hour moving average (HMA) and the 40-HMA, ie 8840 and
8824, respectively, which are crucial intra-day levels.
The hourly momentum indicator is in a positive mode.
The market breadth was negative with 615 advances and
981 declines on the National Stock Exchange.

0.0
-0.5
-1.0
-1.5
2

12

14

15

16

19

20

21

22

23

24

-2.0

Market breadth
BSE

NSE

Advances

1,168

615

Decline

1,496

981

Unchanged
Volume (Rs)

252

77

3,869 Cr

23,860 Cr

For Private Circulation only

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Looking Trendy
Short Term Trend
Index

Target

Sensex

27526

Nifty

8488

Trend

Reversal

Support / Resistance

Up above 28887

27526/28887

Up above 8888

8488/8888

Medium Term Trend

Index

Target

Trend

Reversal

Support / Resistance

Sensex

30025

Down Below 27358

27358/30025

Nifty

9119

Down Below 8407

8407/9119

Icon guide

Up

Down

Sideways

Downswing matures

Upswing matures

Trendy Levels for Tomorrow

Sensex

Nifty

Support

Resistance

Support

Resistance

28532

28825

8800

8857

28311

29000

8785

8888

28251

29077

8750

8939

20 DSMA

40 DEMA

20 DSMA

40 DEMA

28495

28224

8780

8690

BSE Sensex: 28,668

For Private Circulation only

Nifty: 8,831

Eagle Eye

September 26, 2016

Home

Smart Charts
Potential%
P/L at Exit/
Current

Target 1

Target 2

3,962.55

0.14%

3,840

3,757

838.15

-1.22%

899

931

1,245.0

1,248.50

0.28%

1,335

1,375

587.30

569.4

573.50

-0.72%

530

508

Book Profit

594.7

576.90

2.99%

571

555

154.0

156.70

-1.75%

144

135

Target 1

Target 2

Stop Loss ( On
closing Basis )

Buy Price/
Sell Price

Call Closing
Price/ CMP

Sell

4,041.20

3,968.1

Buy

816.15

848.5

BEL Sept Fut

Buy

1,205.00

20-Sep-16

LICHSGFIN Sept Fut

Sell

20-Sep-16

Axisbank Sept Fut

Sell

12-Sep-16

NTPC Sept Fut

Sell

159.00

Date

Scrip Name

23-Sep-16

ULTRACEMCO Sept Fut

22-Sep-16

Auropharma Sept Fut

21-Sep-16

Action

NOTE: Kindly note that all stop losses in Smart Charts Calls are on closing ba sis unless specified.
TPB: Trailing profit booked

Momentum Swing

For the short term1 to 5 days
Scrip Name

23-Sep-16

PNB Sept Fut

Sell

135.50

141.10

139.7

0.99%

138.3

135.5

20-Sep-16

OFSS Sept Fut

Buy

3,342.95

3,377.95

3,375.0

-0.09%

3,430.0

3,475.0

20-Sep-16

BEL Sept Fut

Buy

Book Profit

1,240.00

1,264.0

1.94%

1,270.0

1,290.0

Action

Stop Loss/
Reversal

Buy Price/
Sell Price

Call Closing
Price/CMP

Potential%
P/L at
Exit/
Current

Action
Date

NOTE: Kindly note that all stop losses in Momentum Calls are on an intra-day basis.
TPB: Trailing profit booked
NOTE: Action taken after market hours will be highlited in blue colour.
Rules for momentum calls:
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

Momentum Cash Ideas

For the short term1 to 10 days
Action Date

Stock

23-Sep-16

IRB INFRA

Action

Stop Loss/
Reversal

Price

Closing
Price

Potential
% P/L at
CMP

Target1

Target 2

Buy

Book Profit

253.5

259.05

2.19%

259.5

264

TPB: Trailing profit booked

NOTE: Action taken after market hours will be highlited in blue colour.
Rules for momentum calls:
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

For Private Circulation only

Eagle Eye

September 26, 2016

Home

Short Term Trend

9200
9100
9000
8900
8800
8700
8600
8500
8400
8300

Bank Nifty
Support: 19797/19595
Resistance: 20014/20227

8200
8100
8000
7900
7800
7700
7600
7500
7400
7300
7200
7100
7000
6900
6800
6700
10

KST (6.87067)

5
0
-5
16 23
October

6
20
November

4
18
December

1
15
2016

29

12
26
11
February
March

23

8
April

13

29

13 20
May

3
17
June

1
July

15

29

12
August

26

9
23 30
14
28
September
October
November

Premium Technical Synopsis

Stop loss (On
Closing Basis )

Reco Price

Closing
Price/ CMP

Potential
P/L at
CMP(%)

Target 1

Target 2

Cash

1,204.00

1,244.00

1,261.35

1.39%

1,334

1,402

Buy

Cash

157.75

180.15

185.15

2.78%

221

282

AXISCADES

Buy

Cash

192.50

206.50

224.25

8.60%

247

260

JBM AUTO LTD

Buy

Cash

191.50

217.50

223.65

2.83%

259

278

Buy

Cash

25.75

28.00

26.75

-4.46%

32

34

Action date

Scrip Name

Action

Segments

20-Sep-16

BEL

Buy

14-Sep-16

ZUARI Agro

31-Aug-16
31-Aug-16
4-Jul-16

*DCL

IOB

# CMP

^Intra-day

For Private Circulation only

Tgt. = Target

Rwd. = Reward

Eagle Eye

September 26, 2016

Home

Day Traders Hit List

For September 26, 2016
Scrip Name

Support Levels

Close

Resistance Levels

Action

S2

S1

(Rs)

R1

R2

8668.0

8750.0

8,832.90

8918.0

8994.5

Go Long AboveR1 / Go Short Below s1

19431.0

19760.0

19,928.85

20090.0

20349.0

Go Long AboveR1 / Go Short Below s1

Axis Bank

540.9

550.6

557.45

563.0

575.0

Go Long AboveR1 / Go Short Below s1

BHEL

141.5

144.5

146.15

147.5

150.7

Go Long AboveR1 / Go Short Below s1

BPCL

590.0

598.0

604.65

610.0

617.7

Go Long AboveR1 / Go Short Below s1

1009.0

1030.0

1,042.55

1055.0

1075.0

Go Long AboveR1 / Go Short Below s1

ICICI Bank

264.0

269.0

271.25

274.0

279.0

Go Long AboveR1 / Go Short Below s1

LIC Housing

555.0

567.7

573.15

579.0

587.5

Sell on rise to R1 with SL above R2

LNT

1460.0

1482.0

1,497.00

1512.0

1535.0

Go Long AboveR1 / Go Short Below s1

Reliance Industries

1060.0

1095.0

1,102.80

1110.0

1146.0

Go Long AboveR1 / Go Short Below s1

248.0

252.0

254.55

257.0

261.0

Go Long AboveR1 / Go Short Below s1

NIFTY Futures
Bank Nifty Futures

INFOSYS

SBI
SunPharma

760

773

780.05

788

800

Go Long AboveR1 / Go Short Below s1

Tata Motors

540.0

549.0

553.05

557.0

565.0

Go Long AboveR1 / Go Short Below s1

1193.8

1220.0

1,233.15

1248.0

1263.0

360.0

369.0

372.00

375.0

384.0

Go Long AboveR1 / Go Short Below s1

2320.0

2371.2

2,398.10

2428.0

2475.0

Go Long AboveR1 / Go Short Below s1

Yes Bank
TISCO
TCS

Go Short Below S1

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

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