Technical Update ARIHANT capital markets ltd. . GROUP CONCERNS MEMBER OF NSE, BSE, NCDEX, MCX, DP-NSDL, CDSL. Weekly Sectoral Technical Outlook BSE Auto Index CMP: 18637 17th Nov, 2014 BSE Auto Weekly Levels R 2 R 1 Pivot S 1 S 2 19426 18859 18515 18292 17725 At present we are witnessing positive momentum in this sector. Hence, those who have gone long in this sector can trial their stop loss to 17800. On the upside it can test 18800 – 19300 levels. BSE Bankex CMP: 20130 BSE Bankex Weekly Levels R 2 20842 R 1 20237 Pivot 20009 S 1 19812 S 2 19297 At present we are seeing a bull candle which has closed above the 161.85Fib level. Further, it seems that prices may test 200% fib levels in couple of weeks. We maintain our earlier stance that those long in this sector should now trial their stop loss to 19300 level. On the upside it can test 20300 – 20700 ‐ 21000 levels. * EMA : Exponential Moving Average , SMA : Simple Moving Average , Fibonacci retracement : Fib level. ARIHANT capital markets ltd Technical Update ARIHANT capital markets ltd. . GROUP CONCERNS MEMBER OF NSE, BSE, NCDEX, MCX, DP-NSDL, CDSL. Weekly Sectoral Technical Outlook BSE Metal Index CMP: 11396 17th Nov, 2014 BSE Metal Index Weekly Levels R 2 R 1 Pivot S 1 S 2 11937 11547 11309 11157 10767 At present we are witnessing that prices have breached the lower trendline of the channel during the week but have managed to close above it. If this sector trades above 11461 one can initiate long position with a stop loss of 11300. On the upside it can test 11600 – 11800 levels. BSE IT CMP: 10878 BSE IT Weekly Levels R 2 11172 R 1 10967 Pivot 10851 S 1 10762 S 2 10557 We reiterate our view that those long in this sector should maintain the stop loss of 10067. On the upside, it can test 12000 – 12700 levels. * EMA : Exponential Moving Average , SMA : Simple Moving Average , Fibonacci level : Fib level Disclaimer: Arihant capital markets limited is not soliciting any action based upon it. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. However we do not represent that it is accurate or complete and it should not be relied upon such. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of Arihant is in any way responsible for its contents. The firm or its employees may trade in investments, which are the subject of this document or in related investments and may have acted upon or used the information contained in this document or the research or the analysis on which it is based. Before its publication the firm, its owners or its employees may have a position or be otherwise interested in the investment referred to in this document. This is just a suggestion and the firm or its employees will not be responsible for any profit or loss arising out of the decision taken ARIHANT capital markets ltd by the reader of this document. No matter contained in this document may be reproduced or copied without the consent of the firm.
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