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    Eagle Eye 17th July

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    dhamu0202
    The Nifty index closed above its 20-day simple moving average and broke above a falling trend line, indicating the short-term trend has turned bullish. Momentum indicators like the daily KST oscillator also gave positive signals in favor of the bulls. Most sectors participated in the gains, with auto, banking and IT stocks performing strongly. The short-term target for Nifty is seen at 4480 based on the bullish hourly KST, while the mid-term outlook remains cautious with a target of 3800.

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    Eagle Eye 17th July

    Uploaded by

    dhamu0202
    15 views1 page
    The Nifty index closed above its 20-day simple moving average and broke above a falling trend line, indicating the short-term trend has turned bullish. Momentum indicators like the daily KST oscillator also gave positive signals in favor of the bulls. Most sectors participated in the gains, with auto, banking and IT stocks performing strongly. The short-term target for Nifty is seen at 4480 based on the bullish hourly KST, while the mid-term outlook remains cautious with a target of 3800.

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    Tech check

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    Eagle eye 17th july.doc

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    The Nifty index closed above its 20-day simple moving average and broke above a falling trend line, indicating the short-term trend has turned bullish. Momentum indicators like the daily KST oscillator also gave positive signals in favor of the bulls. Most sectors participated in the gains, with auto, banking and IT stocks performing strongly. The short-term target for Nifty is seen at 4480 based on the bullish hourly KST, while the mid-term outlook remains cautious with a target of 3800.

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

    Eagle Eye 17th July

    Uploaded by

    dhamu0202
    The Nifty index closed above its 20-day simple moving average and broke above a falling trend line, indicating the short-term trend has turned bullish. Momentum indicators like the daily KST oscillator also gave positive signals in favor of the bulls. Most sectors participated in the gains, with auto, banking and IT stocks performing strongly. The short-term target for Nifty is seen at 4480 based on the bullish hourly KST, while the mid-term outlook remains cautious with a target of 3800.

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    of 1

    Close above 20-DSMA

    Markets on July 17, 2009: Propel continues

    After a profitable start, markets continue to scale new highs until concluding minutes.
    Finally Sensex and Nifty ended with phenomenal gains of 494 points and 143 points
    respectively. Midcap and Smallcap also supported today’s rally with gains of 115 and
    135 points respectively. On daily chart, Nifty has violated 20-daily simple moving
    average (20-DSMA) and also the falling trend line on closing basis, which confirm that
    from here trend is bullish and traders should look for buying opportunities on every dip.
    On hourly chart also Nifty gave a bullish confirmation with positive crossover of 20- and
    40 hourly moving averages. Daily momentum oscillator KST has given a positive
    crossover and has shifted its bias in the corner of the bulls. Bulls with 981 advances and
    264 declines largely dominated market breadth.

    Hourly KST is in the buy mode. Our short-term bias is revised up for the target of 4480
    with reversal packed at 4200. However our mid-term bias is still down for the target of
    3800 with reversal packed at 4500 respectively.

    Broad based rally was witnessed across the board with stocks from Auto, Banking and
    Information Technology sectors coming out with flying colors. From the 30 stocks of
    Sensex Reliance Infra (up 8%), M & M (up 8%), Jaiprakash Associates (up 7%), and
    ICICI bank (up 7%) led the pack of gainers, while Sterlite (down 0.5%) led the pack of
    losers.

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