Technical Research | August 18, 2011
Daily Technical Report
Sensex (16841) / Nifty (5057)
Markets opened on a flat note and traded with immense
Exhibit 1: Sensex Daily Chart
volatility to close marginally above the initial opening level.
On the sector front Realty, Auto and Banking counters were
among the major losers, whereas IT, TECk and FMCG were
among the major gainers. The advance decline ratio was in
favor of declining counters (A=890 D=1954). (Source -
www.bseindia.com)
Formation
Bullish
Harami
On daily chart of Sensex we are observing a Japanese
candlestick pattern which resembles a “Bullish Harami”.
This pattern requires confirmation. However, no such
formation is seen on daily chart of Nifty.
Source: Falcon
Trading strategy:
Markets opened flat in line with the global cues and traded
with immense volatility throughout the trading session to
close in positive territory. The candlestick pattern formation
on daily chart of Sensex suggest that a minor pullback is on
the cards but requires a confirmation in the form of a
closing above the high i.e. 17000/5112 level. If yesterday’s
high of 17000/5112 is crossed indices are likely to test
17050-17250/5135-5195 levels. On the other hand if
indices breach
16708/5017 then are likely to test
16430/4945 level.
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Technical Research | August 18, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,559
16,700
16,850
16,991
17,141
NIFTY
4,967
5,012
5,062
5,107
5,157
ACC
984
992
999
1,006
1,013
AMBUJACEM
130
132
134
136
138
AXISBANK
1,128
1,149
1,188
1,209
1,247
BAJAJ-AUTO
1,415
1,434
1,453
1,472
1,492
BHARTIARTL
376
386
394
404
411
BHEL
1,738
1,758
1,779
1,799
1,819
BPCL
672
679
689
696
706
CAIRN
268
274
280
286
293
CIPLA
277
283
287
294
298
DLF
166
172
179
184
191
DRREDDY
1,452
1,478
1,499
1,525
1,546
GAIL
416
427
437
447
457
HCLTECH
398
411
418
431
439
HDFC
633
647
659
672
684
HDFCBANK
449
458
465
475
482
HEROMOTOCO
1,866
1,903
1,927
1,964
1,989
HINDALCO
137
140
143
146
149
HINDUNILVR
307
312
315
320
324
ICICIBANK
884
897
919
932
955
IDFC
108
110
113
116
119
INFY
2,367
2,408
2,437
2,478
2,506
ITC
197
201
203
206
208
JINDALSTEL
498
506
516
524
533
JPASSOCIAT
55
57
58
59
60
KOTAKBANK
420
433
443
456
467
LT
1,584
1,614
1,634
1,664
1,684
M&M
705
712
721
728
737
MARUTI
1,147
1,166
1,199
1,218
1,250
NTPC
171
173
176
178
180
ONGC
268
273
277
282
287
PNB
1,000
1,022
1,051
1,072
1,101
POWERGRID
102
102
104
104
106
RANBAXY
466
473
477
485
489
RCOM
71
73
76
78
81
RELCAPITAL
395
404
414
423
432
RELIANCE
737
746
760
769
784
RELINFRA
432
442
450
460
468
RPOWER
83
84
86
87
89
SAIL
104
105
107
108
109
SBIN
2,119
2,144
2,189
2,215
2,259
SESAGOA
224
228
231
235
238
SIEMENS
843
858
876
891
909
STER
130
132
134
136
138
SUNPHARMA
462
473
482
493
502
SUZLON
35
36
38
38
40
TATAMOTORS
756
767
784
795
812
TATAPOWER
1,047
1,060
1,073
1,086
1,098
TATASTEEL
455
464
469
478
484
TCS
954
977
993
1,016
1,033
WIPRO
331
337
345
352
359
Technical Research Team
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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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