[Type text] [Type text] [Type text] A d d r e s s – S - 8 , D D A S h o p p i n g C o m p l e x , M a y u r V i h a r P h a s e - 1 , D e l h i - 1 1 0 0 9 1

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Market Outlook

29 September Research Report By:

Elite Wealth Advisors Ltd.

How Share Market Behaves Today

ONE DAY GAINS IN NIFTY AND BANK NIFTY; MARKET MOVES HIGHER AFTER S&P HAS REVISED INDIA’S CREDIT

OUTLOOK TO STABLE; S&P had cut India's outlook to "negative" in April 2012. (This means there is no threat of

downgrade anymore)

ANY CORRECTION WILL BE AN OPPORTUNITY TO BUY BLUE CHIPS AT LOWER PRICES; CORRECTION IN MID CAP STOCKS

MAY CONTINUE.

Note; S&P has only revised the outlook and not the Credit Rating

Bank Nifty has seen a big up move on Friday and closes higher. This one day big gains give us an opportunity to sell on rallies. On Monday if prices started drifting downwards then we should be looking for a shorting opportunity in Bank Nifty as well Banking Stocks.

CNX IT traded very choppy on Friday and prices closed lower. A trading range is now visible in IT Index. Support for this range comes at 11050 whereas a resistance comes at 11250. The range is very narrow (200 points only). This suggests that sooner we may see a breakout. A close beyond this range with a follow through on the same direction may give us a trading opportunity in IT Sector. Wait for a confirmation.

Long Term Trend is up in FMCG Sector. Prices are consolidating inside a large range at its top. The sector is trading very choppy now. FMCG Stocks are in some kind of correction. We will get a buying opportunity in this sector when this correction or consolidation gets over. As of now we should avoid buying in this sector.

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SCRIP LTP DESCRIPTION

BHARATFORG 814 BHARATFORG has seen a deep correction. Prices are now finding support near 783. Buy this stock above 818. If this trade executes then place your stop just below 803 with a target near 848.

IBREALEST 73.9 Trend is down in IBREALEST. Prices have seen a sharp upside move and now trading near its strong resistance at 75.50. Prices may find resistance here and begins a down move. Sell this stock below 73.50. If this trade executes then place your stop just above 75.50 with a target near 69.

IDEA 166.15 Trend is up in IDEA. Prices are consolidating at the top and finding a strong support near 163. Buy this stock above 167. If this trade executes then place your stop just below 163 with a target near 175

RECLTD 256.40 Trend is down in RECLTD. Prices have seen a sharp upside move and now trading near its strong resistance at 260. Prices may find resistance here and begins a down move. Sell this stock below 255. If this trade executes then place your stop just above 260 with a target near 245.

Private circulation only: Disclaimer; the recommendation made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. Readers using the information contained herein are solely responsible for their actions. The information and views contained herein are believed to be reliable but no responsibility or liability is accepted for errors of act or opinion. Analysts may or may not have trading or investment positions in the securities mentioned herein.

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