Tuesday, November 10, 2009

Weekly Indices review 10 Nov 09

Auto Sector

CMP: 6621 The index took support at 50 DMA of 6250. Weekly candles are bullish with good base formation.

Resistance level is 6750 which is old top. Support at 6400.



Market Perform Can be brought on cross of 6700. Break of support of 6400 is bearish.





Cap Goods

CMP: 13140 Index is below the Daily 50 MA of 13400. Also weekly charst have bearish RSI divergence.

The levels of 13500 is 50% retracement which is resistance now.



Under Perform Any bounce to 13000 above levels can be shorted as fibonacci breakout has failed.





CNXBank Index

CMP: 9125 The weekly charts still show more upside momentum as is it still above the 21 WMA of 7950.

Strong weekly candles suggests 9500 top can be crossed.



Market OutPerfrom Support of 8950 and resistance of 9600.



FMCG Index

CMP: 2825 Weekly charts have bearish RSI divergence although the upside momentum is still strong.

Support at 2650 levels. Resistance is at 2900.



Market Perfom Short term weakness can be brought.





Healtcare Index

CMP: 4578 Weekly breakout on charts. Strong upside momentum.

Daily prices at support of 21 MA of 4400.



Market OutPerform Dips to be brought.





IT Index

CMP: 4492 Short term weakness is there on weekly charts

Support at previous bottom of 4260. Resistance at 4600.



Market Perform Range bound movemnet within 4800 to 4200.





Metal Index

CMP: 14850 Weekly rebound from 21 MA of 1300 levels.

Shorting can be done at top of 15500 as RSI divergence is there.





Market Perform Resisatnce is at 15000 levels.



Oil & Gas Index

CMP: 9861 Weekly charts are rebounding from lows. Bearish formation as RSI divergence is there.

Daily charts have resistance at 10000 levels.



Market Underpeform The index has resistace at 10000 levels.





Power Index

CMP: 2990 Index holding support at 21 WMA of 2950.

Daily resistance is at 3050 levels.



Market UnderPeform Shorts can be added at 3100 levels.





Realty Index

CMP: 3827 Index has not broken out of 23.6% retracemnet levels.

Daily resistance levels are 4300 levels.



Market UnderPerform Weakest sector among all. Major support is at 3000 levels.

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