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NIFTY 50 Technical Analysis and Preferred Trades - December 25, 2011

On December 25, 2011, we analyzed the NIFTY 50 index, noting resistance at 4815/4885 and a broader trading range of 4450-5300. Historical pullbacks have seldom surpassed 61.8%/73.6% retracement levels. Until a breakout occurs, the strategy would be to sell on quick rises and buy on panic falls. Notably, a shift in trend is expected if NIFTY crosses 4950 swiftly, following a break above 5200. Preferred trades include buying BHEL (stoploss 228, target 260-270), Coal India (stoploss 285, target 330), and L&T (stoploss 950, target 1100).

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NIFTY 50 Technical Analysis and Preferred Trades - December 25, 2011

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  1. NIFTY 50 – A Technical Check December 25, 2011

  2. NIFTY 50 • HINDALCO • HINDUSTAN UNILEVER • ICICI BANK • IDFC • INFOSYS • ITC • JAIPRAKASH • KOTAK MAHINDRA • LARSEN & TOUBRO • MAHINDRA & • MAHINDRA • MARUTI • NTPC • ONGC • PUNJAB NATIONAL • BANK • POWER GRID • RANBAXY • RELIANCE COMM • RELIANCE INDS • RELIANCE INFRA • RELIANCE POWER • SAIL • SESA GOA • SIEMENS • STATE BANK OF INDIA • STERLITE INDS • SUN PHARMA • TATA MOTORS • TATA POWER • TATA STEEL • TCS • WIPRO ACC Ltd AMBUJA CEMENTS AXIS BANK BAJAJ AUTO BHARTI AIRTEL BHEL BPCL CAIRN CIPLA COAL INDIA DLF DR REDDY GAIL GRASIM HCL TECH HDFC LTD HDFC BANK HERO MOTOCORP Nifty Technical View Preferred Trades

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  28. NIFTY DAILY CHART • All previous pullbacks have not gone beyond 61.8%/73.6% retracement levels so we will take 4815/4885 as resistances. • On a longer term picture the downward channel continues and now a broad range for the index is at 4450-5300. Till we don’t see a move out of this band the only trading opportunity would be to sell on quick rise and buy on panic falls closer to channel lows. • First change in trend will be seen if Nifty is able to cross 4950 in quicker time followed by a move beyond 5200. HOME

  29. Preferred Trades • Buy BHEL stoploss 228 tgt 260-270 • Buy Coal India stoploss 285 tgt 330 • Sell HDFC Limited stoploss 684 target 640-630 • Buy Larsen & Toubro stoploss 950 tgt 1100 HOME

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