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    Eagle Eye 17th June

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    dhamu0202
    The Indian stock market had a major decline on June 17, 2009, with the Sensex closing 435 points lower and the Nifty down 161 points. Most mid-cap and small-cap stocks also saw losses of around 4%. Technical indicators like the hourly KST signaled a sell recommendation, with the target for the Nifty seen at 4300. Stocks across different sectors like realty, metals and oil & gas witnessed significant selling pressure.

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    Eagle Eye 17th June

    Uploaded by

    dhamu0202
    19 views1 page
    The Indian stock market had a major decline on June 17, 2009, with the Sensex closing 435 points lower and the Nifty down 161 points. Most mid-cap and small-cap stocks also saw losses of around 4%. Technical indicators like the hourly KST signaled a sell recommendation, with the target for the Nifty seen at 4300. Stocks across different sectors like realty, metals and oil & gas witnessed significant selling pressure.

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    Technical analysis

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    Eagle eye 17th june

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    The Indian stock market had a major decline on June 17, 2009, with the Sensex closing 435 points lower and the Nifty down 161 points. Most mid-cap and small-cap stocks also saw losses of around 4%. Technical indicators like the hourly KST signaled a sell recommendation, with the target for the Nifty seen at 4300. Stocks across different sectors like realty, metals and oil & gas witnessed significant selling pressure.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    19 views1 page

    Eagle Eye 17th June

    Uploaded by

    dhamu0202
    The Indian stock market had a major decline on June 17, 2009, with the Sensex closing 435 points lower and the Nifty down 161 points. Most mid-cap and small-cap stocks also saw losses of around 4%. Technical indicators like the hourly KST signaled a sell recommendation, with the target for the Nifty seen at 4300. Stocks across different sectors like realty, metals and oil & gas witnessed significant selling pressure.

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    © All Rights Reserved
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    of 1

    Bear’s knockout

    Markets on June 17, 2009: Close below 20-DSMA

    Terror set into the markets today as profit booking during the last hour of trade led the
    indices to bang deep into the red. Sensex ended lower by 435 points, while Nifty closed
    161 points down. Stocks from the mid-cap and small-cap spaces ended the day weak as
    well, recording losses of 3.9% and 3.7% respectively. Today’s daily close is below 20-
    daily simple moving average (20-DSMA), with negative crossover in the momentum
    oscillator KST, which is surely favoring the bears. On hourly chart the Head-and-
    shoulder pattern saw a breakout, whose target on downside is packed at 4300. Supporting
    this breakout there is negative crossover of 20-HSMA and 40-HEMA. The overall
    decline to advance ratio was poised at 29 to 1 on the BSE.

    Hourly KST has given a sell signal. Our short-term bias is revised down for the target of
    4300 with reversal packed at 4550, while our mid-term bias remains intact for the target
    of 4850 with reversal packed at 3861 respectively.

    Selling activity was witnessed in stocks across the board today. Realty, metals and oil &
    gas stocks were severely hit. From the 30 stocks of Sensex Tata Power was the only
    gainer, while Tata Steel (down 8%), Tata Motors (down 7%), JP Associates (down 6%)
    and Reliance Communication (down 6%) led the pack of losers.

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