DAILY TRADING HIGHLIGHTS & OUTLOOK

5 DEC, 11

S&P CNX NIFTY

OPEN HIGH LOW CLOSE Change(pts) Change (%) Advanc/Decline Total Turnover (` in cr.) 4940.85 5062.55 4918.40 5050.15 113.30 2.29 3:2 123778

MARKET OUTLOOK The Nifty opened on a positive note and maintained its strength throughout the day. The Nifty registered a high of 5062 and closed very near to that level at 5050, a total gain of 113 (2.29%) points. As discussed in our previous update, the index continued its upward movement and has managed to achieve its first target level of 5000 levels. Going forward the index is likely to test its next immediate resistance levels of 5068 (61.8% retracement level)and only a sustained move above this levels could see index heading higher towards the multiple swing tops placed in the range of 5168 / 5200 for the near term. On the downside the index has immediate support at the 5000 levels followed by the 4920 /4860 levels. Key Levels & Averages
INDEX NIFTY BANK-NIFTY Close Support-1 Support-2 Resistance1 Resistance2 8 DMA 34 DMA 200 DMA

5050 9172

5000 9000

4920 8860

5068 9300

5168 9432

4897 8816

4987 9132

5344 10415

DAILY TRADING HIGHLIGHTS & OUTLOOK

5 DEC, 11

TRADING RECOMMENDATIONS

Steel Authority of India Limited CMP ` 87.15 Technical Outlook & Trading Strategy:The most important observation to be made on the charts of Steel Authority of India Limited is the positive divergence displayed by indicators. They signal that the declining movement of the price could have lost force and in all likelihood give some kind of a bounce back. In the short term we expect the share price to head towards the target of ` 90/ ` 94 levels. Also in the weekly chart it has formed a two bar reversal pattern with an increase in trading volume. We recommend buy at current levels and again on pullback to the levels of ` 85- ` 85.75 with a stop loss placed below ` 83.30.

Escorts Limited CMP` 83.00 Technical Outlook & Trading Strategy:The share price of Escorts Limited has fallen from the highs of `120 to the levels of `62.85 levels and retraced back 50% of the fall. Currently the stock is trading in 23.60% and 50% retracement range. Another point to be noted is that the stock has registered a break-out form its cluster of moving averages. This breakout has occurred with a significant jump in trading volumes, validating the said breakout. The MACD indicator is giving fresh buying signal and indicates strength in the current up-move. We recommend a buy at current levels with a stop loss placed below the level of ` 79.80 for the targets of `87/ `90.

Disclaimer

DAILY TRADING HIGHLIGHTS & OUTLOOK

5 DEC, 11

The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Matrix Solutions and his associates. The information contained herein is based on their analysis of the Charts and up on sources that are considered reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended on this Website may not be suitable for all investors. Past performance may not be indicative of future performance. Some of the securities/commodities presented herein should be considered speculative with a high degree of volatility and risk. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. You specifically agree to consult with a registered investment advisor, which we are not, prior to making any trading decision of any kind. While acting upon any information or analysis mentioned on this website, investors may please note that neither Matrix Solutions nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. Matrix Solutions and his affiliates may hold long or short positions in the securities/commodities discussed herein from time to time the services are intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities. Part of this website may contain advertising and other material submitted to us by third parties. We do not accept liability in respect of any advertisements. You acknowledge that any warranty that is provided in connection with any of the products or services advertised on this website described herein is provided solely by the owner, advertiser, manufacturer or supplier of that product and/or service, and not by us. We do not warrant that your access to the Website and/or related services will be uninterrupted or error-free, that defects will be corrected, or that this site or the server that makes it available is free of viruses or other harmful components. Subscribers are advised to understand that the services can fail due to failure of hardware, software, and Internet connection. Access to and use of this site and the information is at your risk and we do not undertake any accountability for any irregularities, viruses or damage to any computer or Mobiles that results from accessing, availing or downloading of any information from this site. We do not warrant or make any representations regarding the use or the results of the use of any product and/or service purchased in terms of its compatibility, correctness, accuracy, reliability or otherwise. You assume total responsibility and risk for your use of this site and site-related services. A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exists that unauthorized additions, deletions or alterations could be made by third parties to the site. Although we attempt to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event that such an inaccuracy arises, please inform our staff so that it can be corrected. Price and availability of products and services offered on the site are subject to change without prior notice. To the extent we provide information on the availability of products or services you should not rely on such information. We will not be liable for any lack of availability of products and services you may order through the site. Transactions shall be governed by and construed in accordance with the laws of India, without regard to the laws regarding conflicts of law. Any litigation or any action at law or in equity arising out of or relating to these agreement or transaction shall be subject to Mumbai jurisdiction only and the customer hereby agrees consents and submits to the jurisdiction of such courts for the purpose of litigating any such action. A CALL ON SMS is a service given only to members with the sole intention to aid their information means. We do not guarantee any accuracy of generation, databases, delivery timings etc. while giving this facility. Depending on your location, service provider, medium of communication and delivery, the service may be at times slow or not there at all. We do not guarantee completion of delivery. We shall in no way be responsible for delays in receiving SMS on the mobile caused due to delivery methods chosen by the Service Provider, rush on the Service Providers Servers or any other reason whatsoever that may cause such a delay. Use of this website and its services constitutes acceptance of Disclaimer, Privacy Policy and Terms of Use.