Technical Research | August 2, 2011
Daily Technical Report
Sensex (18314) / NIFTY (5517)
Markets opened with an upside gap but could not sustain at
Exhibit 1: Sensex Daily Chart
higher levels and traded with extreme volatility throughout the
day. On the sector front, IT, Teck and Auto were among the
major gainers whereas Metal sector ended on a losing side.
The advance decline ratio was in favor of declining counters
(A=1204 D=1646). (Source - www.bseindia.com)
Formation
„ We are witnessing a "Narrow Range Body" formation on
the Daily chart which indicates indecisiveness prevailing at the
Source: Falcon
current level.
Trading strategy:
Markets opened on an optimistic note and traded with extreme
volatility throughout the day to give a close marginally in a
positive territory. Indices have given a minor bounce back
and registered a high of 18440 / 5552 which is also 38.2%
Fibonacci retracement level of the corrective move from 18945
to 18131 / 5702 to 5453. In the coming trading session, if
indices trade below today's low of 18219 / 5486, then they are
likely to test 18132 / 5453 level. Any move below this important
support level, indices may test 18000 / 5400 level. On the
upside, 18440 - 18538 / 5552 - 5577 may act as resistance
levels in coming trading session.
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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Technical Research | August 2, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,104
18,209
18,325
18,430
18,545
NIFTY
5,453
5,485
5,518
5,550
5,584
ACC
995
1,002
1,011
1,018
1,027
AMBUJACEM
124
127
130
132
136
AXISBANK
1,335
1,344
1,356
1,365
1,377
BAJAJ-AUTO
1,461
1,473
1,485
1,498
1,510
BHARTIARTL
432
437
442
447
452
BHEL
1,797
1,810
1,832
1,845
1,867
BPCL
644
650
658
663
671
CAIRN
305
308
310
314
316
CIPLA
303
305
308
310
313
DLF
224
227
233
236
241
DRREDDY
1,560
1,580
1,596
1,617
1,633
GAIL
454
459
464
469
474
HCLTECH
474
480
488
493
501
HDFC
682
688
698
704
713
HDFCBANK
478
483
489
494
501
HEROHONDA
1,741
1,768
1,789
1,816
1,837
HINDALCO
163
166
169
171
175
HINDUNILVR
318
321
324
326
330
ICICIBANK
1,027
1,036
1,048
1,057
1,069
IDFC
124
126
128
131
133
INFY
2,763
2,789
2,806
2,833
2,850
ITC
206
208
209
211
213
JINDALSTEL
540
556
574
590
607
JPASSOCIAT
66
67
68
69
70
KOTAKBANK
441
448
454
460
466
LT
1,725
1,744
1,756
1,776
1,787
M&M
719
725
730
736
741
MARUTI
1,173
1,191
1,210
1,229
1,247
NTPC
175
176
177
178
180
ONGC
266
270
272
276
279
PNB
1,081
1,099
1,122
1,140
1,163
POWERGRID
103
105
107
109
111
RANBAXY
534
548
556
569
577
RCOM
99
101
102
104
106
RELCAPITAL
527
540
563
576
599
RELIANCE
813
822
830
839
847
RELINFRA
525
537
547
559
569
RPOWER
110
111
112
114
115
SAIL
113
117
122
125
131
SBIN
2,295
2,320
2,352
2,377
2,408
SESAGOA
254
262
271
278
287
SIEMENS
905
911
920
927
936
STER
152
155
159
162
166
SUNPHARMA
514
519
523
528
532
SUZLON
52
53
54
55
56
TATAMOTORS
943
952
960
969
976
TATAPOWER
1,261
1,278
1,294
1,312
1,327
TATASTEEL
558
566
571
579
584
TCS
1,112
1,124
1,137
1,148
1,162
WIPRO
382
387
392
397
402
Technical Research Team
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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Technical Report
RESEARCH TEAM
Shardul Kulkarni
Head - Technicals
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3952 6600
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