Technical Research | July 8, 2011
Daily Technical Report
Sensex (19078) / NIFTY (5729)
Markets opened on a positive note and momentum on the
Exhibit 1: Sensex Daily Chart
upside gradually picked up which led the indices to close near
days high. On the sector front, gains were seen in all the sectors.
FMCG, Realty, Consumer Goods and Tech were the major
gainers which pulled the indices higher. The advance decline
ratio was in favor of advancing counters (A=1922 D=987).
(Source - Iris software)
Formation
„ On the daily chart, we are observing that the prices are
Source: Falcon
approaching near the downward sloping trenline joining the
price action, it can be inferred that the positive momentum
two significant highs of 21109 & 20665 / 6339 & 6181.
may continue for some more time. On the upside if indices
Trading strategy:
trade above19098 / 5737 levels then they are likely to
Markets after four days of consolidation have given a strong
test 19287 - 19437 / 5800 - 5850 levels. On the downside,
close near the downward sloping trendline. Considering the
18890 - 18767 / 5673 - 5632 may act as support for the day.
Stock Recommendations:
Exhibit 2: IDBI (July Futures) - Daily Chart
Stock - IDBI (July Futures)
Action - Buy
Range
:
`136.10 - 136.25
Stop Loss :
`134.40
Target
:
`140.00
Source: Falcon
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Technical Research | July 8, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,651
18,864
18,981
19,195
19,312
NIFTY
5,595
5,662
5,700
5,766
5,804
ABB
827
843
869
886
912
ACC
953
972
983
1,002
1,013
AMBUJACEM
126
128
129
131
132
AXISBANK
1,300
1,316
1,325
1,341
1,351
BHARTIARTL
378
388
393
403
409
BHEL
1,942
1,964
1,977
1,999
2,011
BPCL
642
653
659
670
676
CAIRN
309
315
319
325
328
CIPLA
324
329
332
338
341
DLF
170
202
218
250
267
GAIL
454
461
465
471
475
HCLTECH
497
503
507
514
517
HDFC
707
716
721
730
735
HDFCBANK
2,518
2,542
2,558
2,582
2,599
HEROHONDA
1,858
1,870
1,877
1,889
1,896
HINDALCO
185
190
193
199
201
HINDUNILVR
326
331
335
340
345
ICICIBANK
1,051
1,071
1,082
1,102
1,113
IDEA
77
79
80
82
84
IDFC
134
137
138
140
142
INFY
2,923
2,959
2,980
3,016
3,037
ITC
195
199
201
206
208
JINDALSTEL
626
641
652
667
678
JPASSOCIAT
80
81
82
83
83
KOTAKBANK
471
480
485
494
500
LT
1,785
1,824
1,846
1,885
1,907
M&M
709
718
723
731
737
MARUTI
1,147
1,165
1,177
1,195
1,207
NTPC
183
187
189
192
194
ONGC
271
273
275
277
278
PNB
1,108
1,126
1,137
1,155
1,166
POWERGRID
108
109
110
111
111
RANBAXY
526
535
539
548
552
RCOM
95
97
98
100
101
RELCAPITAL
590
596
602
608
614
RELIANCE
847
859
867
879
887
RELINFRA
569
579
585
595
601
RPOWER
116
118
118
120
120
SAIL
139
140
142
143
144
SBIN
2,409
2,446
2,467
2,503
2,524
SIEMENS
864
879
890
904
916
STER
167
169
170
172
174
SUNPHARMA
493
499
503
509
514
SUZLON
51
52
52
52
53
TATAMOTORS
1,016
1,036
1,047
1,067
1,078
TATAPOWER
1,275
1,294
1,307
1,327
1,340
TATASTEEL
595
601
604
610
614
TCS
1,176
1,186
1,193
1,203
1,210
UNITECH
34
34
35
35
36
WIPRO
415
423
428
436
440
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
Mileen Vasudeo
Technical Analyst
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
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