WEEKLY EQUITY TECHNICAL REPORT 02 DECEMBER TO 06 DECEMBER 2013

kailashtrifid

Par 100 posts (V.I.P)
Markets moved in tight range for most part of the week due to F&O Expiry and bounced in the last session and closed on a strong note. Nifty future on weekly charts took support of 21 day EMA last week and sustained on higher side this week. If the positive momentum continues then in coming weeks major resistance is seen around the trend line as shown in chart above i.e. around 6400. While on lower side, 6000 is seen as the crucial support below which selling pressure is expected. However, index is likely to move in the range of 6100-6280 in the coming week.

TREND: SIDEWAYS

SUPPORT: 6030/5900

RESISTANCE: 6310/6400

CRUCIAL POINT: 6310

CLOSE: 6225.50

NIFTY WEEKLY
View attachment 36

WEEKLY MARKET TREND

  1. India’s Forex reserves jump USD 2.70 bn.
  2. GDP grows better-than-expected 4.8% in Sept quarter.
  3. Asian shares edge up; Nikkei posts best Nov since 2005.
  4. BSE to drop Dena Bank, Vijaya Bank from SLB segment from Dec 2.
  5. Power Grid FPO to hit mkt on Dec 3; priced at Rs 85-90/share.


WEEKLY PICK
View attachment 37

Weekly Stock pick

TATAMTRDVR FUTURE FOUND SUPPORT OF 21 DAY EMA ON DAILY CHARTS AND IS EXPECTED TO CONTINUE BULL RALLY AND CROSS ITS ALL TIME HIGHS.

BUY ABOVE 211.80 TARGETS 221-232. MAINTAIN SL OF 198.

Weekly Stock Calls

ARVIND BUY ABOVE 130 TARGETS 133-136 SL 125.

FEDERALBANK BUY ABOVE 80.50 TARGETS 83.50-87 SL 76.

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[Source : WEEKLY EQUITY TECHNICAL REPORT 02 DECEMBER TO 06 DECEMBER 2013 ]
 
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