SMC Global Technical Stock Beats

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Information about SMC Global Technical Stock Beats

Published on March 7, 2014

Author: moneywisebewise


07TH March, 2014 Nifty Outlook Equity benchmark extended the ongoing upmove on Thursday following the mixed global cues. Meanwhile, Investors cheered up a sharp decline in India’s current account deficit (CAD) narrowed sharply to USD 4.2 billion for Q3 from USD 31.9 billion as merchandise exports picked up and imports moderated, particularly gold imports. Overall, Indian markets registered strong gains this year as solid foreign investor flows, a more stable rupee on the back of a narrowing current account deficit offset global uncertainties such as the US Federal Reserve's tapering of its monthly bond buying. Moreover, benchmark nifty traded near to 6400 levels, led by Realty and power indices which registered top gains followed by metal, bank and capital goods indices. Support: 6370-6350 Resistance: 6420-6440 REC0MMENDATIONS: DABUR (LONG) TARGET 176-178 Intraday call It is apparent from chart that stock is trading in lower highs and higher lows sort of Symmetrical triangle on daily charts which is bullish in nature. On Thursday, stock ended with marginal gains conclusively closed near day’s high which indicates that buying is more aggressive at current level. Therefore, one can initiate long in range of 171-172 levels for the upside target of 176-178 levels with SL of 170. GODREJIND (LONG) TARGET 294-297 Intraday call Stock was trading in lower highs and higher lows sort of continuation triangle on daily charts and gave the breakout of same with high volume. On the indicators front, RSI and MACD have signaled bullish for the stock in near term. Therefore, one can initiate long in range of 286-287 levels for the upside target of 294-297 levels with SL of 283.

IOC (LONG) TARGET 270-274 Stock has been witnessed a decent upside move from 192 to 260 levels in single upward journey. Then after, it retraces upto 235 levels to form the fresh buying pivot on charts. Stock has started moving higher with rising volume which indicates that buying is more aggressive at current level. Therefore, one can initiate long in range of 264-265 levels for the upside target of 270-274 levels with SL of 260. *The above recommendation is totally based on technical analysis for 07TH March, 2014 For Any Query or Suggestions email at Analyst Mudit Goyal Contact Details: 011-30111000 Extn. 677 Disclaimer: This report is for the personal information of the authorized recipient and doesn’t construe to be any investment, legal or taxation advice to you. It is only for private circulation and use .The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of the report. The report should not be reproduced or redistributed to any other person(s) in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn’t guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that we and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance if this material;(a) from time to time, may have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned here in or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such company(ies) or (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court.

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