Technically, a Negative Crossover between 200-Days SMA (Simple Moving Average) and 50-Days SMA is still intact. For the day, NIFTY however marked a high of 5217.00, and crossed the 200-Days SMA of 5204.92 too, but it closed below it at 5204.70. The level of 200-Days SMA also acts as a very good resistance for NIFTY on the closing basis right now.

A Fibonnaci Retracement Level is being drawn from the High of 6338.50 (08th November, 2010) to the 28-Months Low marked 4531.15 by NIFTY (21st December, 2011). Now, the level of 5220.56 (50.00% Level of Retracement) is the next resistance level to be tested by NIFTY, the 200-Days SMA of 5208.32 also lies at the same point. The levels of 4957.07 (61.80% Level of Retracement) will now act as the immediate Support Level for NIFTY.

Investors are suggested to avoid the markets to invest at this time; however, traders are suggested to take the advantage of Swing Trading, which will appear many times in between.

On the Economic Front, JAPAN will be coming out with its Overall Household Spending, Unemployment Rate and Industrial Production for the month of December and Nomura / JMMA Manufacturing Purchasing Manager Index for the month of January. Retail Sales for the month of December and Consumer Price Index for the month of January will be announced in GERMANY. U.S. will be coming out with its Personal Consumption Expenditures and Personal Income for the month of December.

Q3 FY12 Results Season has commenced in India. Some of the important results to be announced tomorrow are of 3MINDIA, AJMERA REALTY, ALBK, BALRAMCHIN, EID PARRY, GHCL, GLENMARK, GMDC, HAVELLS, INDIABULLS FINANCE, INDIAN BANK, INGERSOLL RAND, KANSAI NEROLAC, LICHSGFIN, MAHINDRA LIFESPACE, MCLEODRUSS, NFL, NOVARTIS, ORIENTAL BANK, SHREE RAMA MULTI, UNIENTER and UNIPHOS.

Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to take advantage of this short term move, which may pay off excellent returns.

For the day, intraday resistance for NIFTY comes at 5220 / 5250 / 5280 levels. At the same time, 5180 / 5150 / 5120 will act as major intraday support levels.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, DLF has made a Black Candlestick Pattern, with a considerable spurt in Volume. The Stock is closed below its 200-Days SMA (Simple Moving Average) of 216.04. It can be said that it reverted from that level.

However, it is trading above its 50-Days SMA of 355.24 and 20-Days EMA (Exponential Moving Average) of 199.43 and 202.61, respectively. It made a low of 210.80 for the day and closed at 211.60. The 14-Days RSI (Relative Strength Index) is quoting at 58.80 on the Charts (RSI above 50 indicates strength or confirms the Buying signal).

The Positive Directional Index (31.23) is still trading below the Negative Directional Index (17.63). ADX (Average Directional Index) is quoting at 26.32 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to sell DLF only if it trades below 212 for the Targets of 208 & 206, with the strict Stop Loss of 214.60.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, FORTIS has made a Long White Candlestick Pattern, with an excellent spurt in Volume. The Stock is trading much below its 200-Days SMA (Simple Moving Average) of 137.48. It has moved above its 50-Days SMA and 20-Days EMA (Exponential Moving Average) of 100.21 and 99.10, respectively on the closing basis.

It has also crossed the Longer Term Trendline successfully marked from the month of June, which was acting as a resistance till now. The stock is already in a Bull Trend, but now it has crossed its small resistance zone. It made a high of 106.80 for the day and closed at 105.70. The 14-Days RSI (Relative Strength Index) is quoting at 64.24 on the Charts (RSI above 50 indicates strength or confirms the Buying signal).

The Positive Directional Index (28.52) is trading above the Negative Directional Index (19.75). ADX (Average Directional Index) is quoting at 20.35 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to buy FORTIS only if it trades above 106 for the Targets of 110 & 112, with the strict Stop Loss of 104.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

Technically, a Negative Crossover between 200-Days SMA (Simple Moving Average) and 50-Days SMA is still intact. Even a Negative Crossover between the 50-Days SMA and 20-Days EMA has developed since, which signals selling pressure to creep in coming trading sessions. NIFTY has crossed its 20-Days EMA yesterday, on the closing basis, but it is still trading below its 50-Days SMA.

A Fibonnaci Retracement Level is being drawn from the High of 6338.50 (08th November, 2010) to the 28-Months Low marked 4531.15 by NIFTY (21st December, 2011). Still the investors should wait for fruitful results ahead and stay away from the markets. The level of 4550 will now act as the strong support level on closing basis for NIFTY. The level of 4800 as mentioned earlier was acting as a strong resistance for NIFTY, since last one month, which it crossed successfully on the closing basis yesterday.

Now, the level of 4950 (61.80% Level of Retracement) will act as an important resistance for it. Investors are suggested to avoid the markets to invest at this time; however, traders are suggested to take the advantage of Swing Trading, which will appear many times in between.

On the Economic Front, U.K. will be coming out with its Producer Price Index – Input and Producer Price Index – Output from the month of December. Trade Balance for the month of November will be announced by EUROPEAN MONETARY UNION. U.S. will be announcing its Trade Balance for the month of November, Import Price Index for the month of December and Reuters/Michigan Consumer Sentiment Index for the month of January.

Q2 FY12 Results Season has commenced in India. Some of the important results to be announced are of SINTEX and CMC.

Weakening Rupee, Deteriorating European Economy Conditions, Uncertainties in Indian Corporate and Finance Scenario are acting as major triggers of the massive sell off, which is resulting in development of Fear among the Indian and International Investors.

Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to stay from the markets right now, as market will give better chances ahead for Bottom Fishing and earning handsome returns thereafter.

For the day, intraday resistance for NIFTY comes at 4850 / 4880 / 4920 levels. At the same time, 4800 / 4780 / 4750 will act as major intraday support levels.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, SUNTV has made a Long White Candlestick Pattern, with a considerable good spurt in Volume. The Stock has also crossed the upper trendline marked from the month of October on the closing basis.

It is trading much below its 200-Days SMA (Simple Moving Average) of 320.98 and has moved above its 50-Days SMA and 20-Days EMA (Exponential Moving Average) of 274.79 and 279.64, respectively on the closing basis. The stock may touch its 200-Days SMA in the forthcoming trading sessions. It made a high of 302.45 for the day and closed at 297.75.

The 14-Days RSI (Relative Strength Index) is quoting at 60.95 on the Charts (RSI above 50 indicates strength or confirms the Buying signal). The Positive Directional Index (28.20) is trading above the Negative Directional Index (21.72). ADX (Average Directional Index) is quoting at 10.58 on the Daily Charts. ADX’s value below 20 indicates that the stock is in the trading range.

Hence, it is recommended to buy SUNTV only if it trades above 300 for the Targets of 306 & 310, with the strict Stop Loss of 296.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, BIOCON has made a Long Black Candlestick Pattern, with a considerable good spurt in Volume. Stock is trading much below its 200-Days SMA (Simple Moving Average) and 50-Days SMA of 338.15 and 299.41, respectively.

It moved below its 20-Days EMA (Exponential Moving Average) of 276.65 on the closing basis. It made a low of 262.60 for the day and closed at 264.25. A good downside movement in the stock can be witnessed above the levels of 361.00. The 14-Days RSI (Relative Strength Index) is quoting at 37.65 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal).

The Negative Directional Index (29.44) is trading above the Positive Directional Index (17.20). ADX (Average Directional Index) is quoting at 30.25 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to sell BIOCON only if it trades below 261 for the Targets of 255 & 250, with the strict Stop Loss of 264.20.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

Technically, a Negative Crossover between 200-Days SMA (Simple Moving Average) and 50-Days SMA is still intact. Even a Negative Crossover between the 50-Days SMA and 20-Days EMA has developed since, which signals selling pressure to creep in coming trading sessions. NIFTY has crossed its 20-Days EMA yesterday, on the closing basis, but it is still trading below its 50-Days SMA.

A Fibonnaci Retracement Level is being drawn from the High of 6338.50 (08th November, 2010) to the 28-Months Low marked 4531.15 by NIFTY (21st December, 2011). Still the investors should wait for fruitful results ahead and stay away from the markets. The level of 4550 will now act as the strong support level on closing basis for NIFTY. The level of 4800 as mentioned earlier was acting as a strong resistance for NIFTY, since last one month, which it crossed successfully on the closing basis yesterday.

Now, the level of 4950 (61.80% Level of Retracement) will act as an important resistance for it. Investors are suggested to avoid the markets to invest at this time; however, traders are suggested to take the advantage of Swing Trading, which will appear many times in between.

On the Economic Front, JAPAN will be coming out with its Money Supply M2+CD, Eco watchers Survey: Outlook, Eco Watchers Survey: Current and Machine Order Tools for the month of December. Consumer Price Index and Producer Price Index for the month of December will be coming out in CHINA. GERMANY will be announcing its Consumer Price Index for the month of December.

Industrial Production and Manufacturing Production for the month of November, BOE Asset Purchase Facility for the month of January and also BoE (Bank of England) will be announcing its Interest Rate Decision in U.K. EUROPEAN MONETARY UNION will be coming out with its Industrial Production for the month of November and also ECB (European Central Bank) will be coming out with its Interest Rate Decision.

Initial Jobless Claims, Continuing Jobless Claims, Business Inventories for the month of November, NIESR GDP Estimate (3M), Monthly Budget Statement and Retail Sales for the month of December will be announced in U.S. INDIA will be coming out with its IIP (Index of Industrial Production) Data for the month of November.

Q2 FY12 Results Season will be commencing from tomorrow. Some of the important results to be announced are of INFY, HDFC, DCB, and TTK PRESTIGE.

Weakening Rupee, Deteriorating European Economy Conditions, Uncertainties in Indian Corporate and Finance Scenario are acting as major triggers of the massive sell off, which is resulting in development of Fear among the Indian and International Investors.

Traders are suggested to trade cautiously by following Strict Stop Losses and Booking Fast Profits, whereas, Investors are suggested to stay from the markets right now, as market will give better chances ahead for Bottom Fishing and earning handsome returns thereafter.

For the day, intraday resistance for NIFTY comes at 4880 / 4920 / 4950 levels. At the same time, 4820 / 4780 / 4750 will act as major intraday support levels.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, JETAIRWAYS has made a White Opening Marubozu Candlestick Pattern, showing that it was a typical bull day and strength of the bulls was enough to cause some concern among the bears. The stock rose with an excellent spurt in Volume, backed by the news that the aviation sector may see foreign direct investment (FDI) being allowed.

Stock is trading much below its 200-Days SMA (Simple Moving Average) and 50-Days SMA of 352.03 and 223.72 respectively. It moved above its 20-Days EMA (Exponential Moving Average) of 190.94 on the closing basis yesterday only. It made a high of 209.50 for the day and closed at 203.75.

The 14-Days RSI (Relative Strength Index) is quoting at 54.92 on the Charts (RSI above 50 indicates strength or confirms the Buying signal). The Positive Directional Index (28.10) is trading above the Negative Directional Index (22.63). ADX (Average Directional Index) is quoting at 34.09 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to buy JETAIRWAYS only if it trades above 204 for the Targets of 210 & 215, with the strict Stop Loss of 201.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On Daily Charts, JISLJALEQS (Jain Irrigation) has made a Long White Candlestick Pattern, with a considerable good spurt in Volume. Stock is trading much below its 200-Days SMA (Simple Moving Average) and 50-Days SMA of 150.05 and 105.23, respectively.

It moved above its 20-Days EMA (Exponential Moving Average) of 92.95 on the closing basis. It made a high of 98.00 for the day and closed at 97.00. A good upside movement in the stock can be witnessed above the levels of 98.00. The 14-Days RSI (Relative Strength Index) is quoting at 51.61 on the Charts (RSI above 50 indicates strength or confirms the Buying signal).

The Positive Directional Index (22.10) is still trading below the Negative Directional Index (22.42). ADX (Average Directional Index) is quoting at 34.86 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to buy JISLJALEQS only if it trades above 98 for the Targets of 103 & 105, with the strict Stop Loss of 96.70.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore

On the Daily Charts, BHEL has made a Long Black Candlestick Pattern, with a considerable good spurt in Volume. The Stock is trading much below all its Moving Averages. Its 200-Days SMA (Simple Moving Average), 50-Days SMA and 20-Days EMA (Exponential Moving Average) are quoting at 356.30, 284.31 and 252.24, respectively.

It made a low of 232.35 for the day and closed at 236.25. The 14-Days RSI (Relative Strength Index) is quoting at 35.58 on the Charts (RSI below 50 indicates weakness or confirms the Selling signal), reverting from the oversold zone.

The Negative Directional Index (28.90) is still trading above the Positive Directional Index (13.44). ADX (Average Directional Index) is quoting at 35.63 on the Daily Charts. ADX’s value above 20 indicates that the trend of the stock is strengthening.

Hence, it is recommended to sell BHEL only if it trades below 236 for the Targets of 231 & 228, with the strict Stop Loss of 239.

Contributed By: Sonal Natani MS(Finance), ICFAI, Hyderabad.
Equity Research Analyst, Indore