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    Eagle Eye 11th August

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    dhamu0202
    The Indian markets trimmed earlier gains and closed higher by modest amounts, as selling pressure increased at higher levels. Technical indicators show resistance at recent highs and support near 4398; below that level, markets may decline further. In the short term, markets are expected to fall to 4325, but in the mid-term a rise to 5000 is still expected if 4325 support holds. Auto, realty, and metal stocks outperformed while some engineering and energy stocks underperformed.

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    Eagle Eye 11th August

    Uploaded by

    dhamu0202
    18 views1 page
    The Indian markets trimmed earlier gains and closed higher by modest amounts, as selling pressure increased at higher levels. Technical indicators show resistance at recent highs and support near 4398; below that level, markets may decline further. In the short term, markets are expected to fall to 4325, but in the mid-term a rise to 5000 is still expected if 4325 support holds. Auto, realty, and metal stocks outperformed while some engineering and energy stocks underperformed.

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    Detailed Technical analysis of the market for that day.

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    Eagle eye 11th august

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    The Indian markets trimmed earlier gains and closed higher by modest amounts, as selling pressure increased at higher levels. Technical indicators show resistance at recent highs and support near 4398; below that level, markets may decline further. In the short term, markets are expected to fall to 4325, but in the mid-term a rise to 5000 is still expected if 4325 support holds. Auto, realty, and metal stocks outperformed while some engineering and energy stocks underperformed.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    18 views1 page

    Eagle Eye 11th August

    Uploaded by

    dhamu0202
    The Indian markets trimmed earlier gains and closed higher by modest amounts, as selling pressure increased at higher levels. Technical indicators show resistance at recent highs and support near 4398; below that level, markets may decline further. In the short term, markets are expected to fall to 4325, but in the mid-term a rise to 5000 is still expected if 4325 support holds. Auto, realty, and metal stocks outperformed while some engineering and energy stocks underperformed.

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    © All Rights Reserved
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    Download as doc, pdf, or txt
    of 1

    Resistance of moving averages intact

    Markets on August 11, 2009: A relief rally

    With profit taking towards end of today’s trading session, Indian markets trim some of
    their earlier gains. Finally Sensex ended the day higher by 57 points, while Nifty closed
    higher by 33 points. The BSE-Midcap and BSE-Smallcap indices also closed higher by
    around 1.1% and 0.5% respectively. Today, Nifty failed to close above the hurdle of 20-
    daily simple moving average (20-DSMA) and 20-hourly simple moving average (20-
    HSMA), which indicates that the selling pressure is intense at higher levels. The only
    level to watch out for is the support line of 4398, as below 4398 a new leg on downside
    will began. Hence from here ever bounce will be a sell on rise story. On upside hurdle is
    packed at 4540. Daily KST continue to remain in sell mode. Market breadth was almost
    neutral with 682 advances and 549 declines.

    Our short-term bias is down for the target of 4325 with reversal packed at 4732. However
    our mid-term bias is still up for the targets of 5000 with reversal packed at 4325.

    Auto, realty and metal stocks ended the day on the strong note, while select stocks from
    the engineering and energy sectors ended weak. From the 30 stocks of Sensex Tata
    Motors (up 7%), Mahindra and Mahindra (up 4%) and Hindalco (up 3%) led the pack of
    gainers while Jaiprakash Associates (down 3%) and HDFC (down 1%) led the pack of
    losers.

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