Technical Research | September 02, 2011
Daily Technical Report
Sensex (16677) / Nifty (5001)
Markets opened with an upside gap in-line with global cues
Exhibit 1: Sensex Daily Chart
and closed at 5000 mark as positive sentiments followed up
after an enormous bounce on Monday’s session. On the
sector front, Metal, Realty and Banking counters were
among the major gainers. The advance decline ratio was in
favor of advancing counters (A=1841 D=976). (Source -
www.bseindia.com)
Formation
• We are observing a positive crossover of “3 & 8 EMA”
on the Daily chart.
Trading strategy:
We witnessed a positive closing for the second consecutive
session. The session traded with extreme volatility as neither
Source: Falcon
bulls nor bears were willing to carry overnight position due
to gap of two days before the next trading session. On the
Daily chart, we are witnessing a positive crossover of “3 & 8
EMA” coupled with positive placement of the “RSI
-
Smoothened” oscillator indicates a possibility of a further
upside move if indices trade above Monday’s high of
16715 / 5016. In this case, they are likely to test 16750 -
17000 / 5050 -5110 levels. The “20 EMA” is placed at
16750 / 5050 which may act as resistance in coming
trading session. On the downside, 16443 / 4927 level may
act as a support.
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Technical Research | September 02, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,340
16,509
16,612
16,780
16,883
NIFTY
4,893
4,947
4,982
5,036
5,070
ACC
982
993
1,004
1,014
1,025
AMBUJACEM
130
132
134
135
137
AXISBANK
1,044
1,058
1,069
1,084
1,094
BAJAJ-AUTO
1,529
1,551
1,571
1,593
1,612
BHARTIARTL
392
398
407
414
423
BHEL
1,733
1,751
1,769
1,786
1,804
BPCL
659
667
676
684
693
CAIRN
263
271
276
284
289
CIPLA
275
278
280
283
285
DLF
184
190
194
201
205
DRREDDY
1,432
1,464
1,483
1,515
1,534
GAIL
400
405
412
418
425
HCLTECH
378
394
405
421
432
HDFC
643
653
660
670
677
HDFCBANK
452
462
469
478
485
HEROMOTOCO
1,948
2,000
2,034
2,086
2,120
HINDALCO
139
145
148
154
157
HINDUNILVR
318
319
320
322
323
ICICIBANK
847
860
873
887
900
IDFC
109
112
114
116
118
INFY
2,248
2,295
2,328
2,375
2,408
ITC
196
198
201
203
206
JINDALSTEL
485
503
514
533
544
JPASSOCIAT
57
59
61
63
64
KOTAKBANK
429
436
442
449
456
LT
1,534
1,571
1,609
1,647
1,685
M&M
728
733
739
744
749
MARUTI
1,049
1,070
1,085
1,106
1,120
NTPC
166
168
169
171
172
ONGC
251
257
266
272
281
PNB
897
913
926
943
956
POWERGRID
98
99
100
101
102
RANBAXY
441
456
468
484
495
RCOM
77
78
80
81
83
RELCAPITAL
359
372
384
397
409
RELIANCE
749
766
781
798
813
RELINFRA
422
429
438
445
454
RPOWER
82
83
84
86
87
SAIL
102
105
107
110
113
SBIN
1,899
1,936
1,960
1,998
2,021
SESAGOA
205
219
228
243
252
SIEMENS
850
868
881
899
912
STER
123
126
128
131
134
SUNPHARMA
456
474
485
503
514
SUZLON
35
36
37
37
38
TATAMOTORS
718
730
739
752
761
TATAPOWER
1,008
1,027
1,046
1,065
1,085
TATASTEEL
448
458
465
476
483
TCS
1,013
1,028
1,039
1,054
1,065
WIPRO
320
328
333
341
346
Technical Research Team
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T
Technical Report
RESEARCH TEAM
Shardul Kulkarni
Head - Technicals
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
Ankur Lakhotia
Technical Analyst
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Research Team: 022-3935 7600
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