Technical Research | June 1, 2011
Daily Technical Report
Sensex (18503) / Nifty (5560)
Markets opened on a flat note and momentum on the upside
continuation of upside momentum. In coming trading session
gradually picked up which lead the indices to close near days
if indices trade above 18530 / 5572 levels then they are likely
high. The strength was visible across all the sectors, which were
18798 / 5636 levels. On the downside, 18320 - 18250 / 5500-
mainly lead by Realty, FMCG and Bankex. The advance decline
5480 levels may act as support for the day.
ratio was in favour of advancing counters (A=1884 D=1025).
Exhibit 1: Sensex Daily Chart
(Source - Iris software)
Formation
„ On the Daily chart, prices have convincingly closed above
the 20-day SMA which indicates continuation of upside
momentum.
Trading strategy:
As expected and mentioned in earlier report, implications of
Source: Falcon
positively poised momentum oscillators were seen and prices
have convincingly closed above the 20-day SMA.This suggests
Stock Recommendations:
Exhibit 2: Tata Steel (June Futures) Hourly Chart
Stock - Tata Steel (June Futures)
Action - Buy
Range
:
`585.50 - 584.50
Stop Loss
:
`578.75
Target
:
`602.00
Source: Falcon
Stock - Rolta
Exhibit 3: Rolta - Daily Chart
Action - Buy
Selling Range
:
`138.20 - 138.50
Stop Loss
:
`136.45
Target
:
`142.25
Source: Falcon
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Technical Research | June 1, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,126.00
18,315.00
18,421.00
18,609.00
18,715.00
NIFTY
5,459.00
5,509.00
5,540.00
5,591.00
5,622.00
ABB
846.00
855.00
864.00
873.00
881.00
ACC
980.00
1,004.00
1,019.00
1,043.00
1,059.00
AMBUJACEM
130.00
134.00
137.00
141.00
144.00
AXISBANK
1,236.00
1,259.00
1,274.00
1,297.00
1,312.00
BHARTIARTL
367.00
370.00
373.00
377.00
379.00
BHEL
1,918.00
1,931.00
1,939.00
1,952.00
1,960.00
BPCL
625.00
629.00
632.00
636.00
639.00
CAIRN
332.00
335.00
340.00
343.00
348.00
CIPLA
318.00
322.00
328.00
333.00
339.00
DLF
227.00
233.00
236.00
242.00
246.00
GAIL
437.00
441.00
445.00
449.00
454.00
HCLTECH
505.00
510.00
514.00
518.00
522.00
HDFC
662.00
673.00
681.00
692.00
700.00
HDFCBANK
2,281.00
2,340.00
2,374.00
2,434.00
2,468.00
HEROHONDA
1,827.00
1,841.00
1,854.00
1,868.00
1,881.00
HINDALCO
187.00
192.00
195.00
200.00
203.00
HINDUNILVR
298.00
301.00
305.00
309.00
313.00
ICICIBANK
1,063.00
1,075.00
1,085.00
1,096.00
1,106.00
IDEA
67.00
68.00
69.00
69.00
70.00
IDFC
136.00
139.00
141.00
144.00
146.00
INFOSYSTCH
2,752.00
2,769.00
2,793.00
2,810.00
2,835.00
ITC
186.00
190.00
192.00
195.00
198.00
JINDALSTEL
630.00
640.00
650.00
659.00
670.00
JPASSOCIAT
81.00
84.00
85.00
88.00
89.00
KOTAKBANK
430.00
436.00
440.00
446.00
451.00
LT
1,621.00
1,632.00
1,644.00
1,655.00
1,667.00
M&M
636.00
654.00
667.00
685.00
698.00
MARUTI
1,203.00
1,216.00
1,227.00
1,240.00
1,251.00
NTPC
165.00
167.00
168.00
170.00
171.00
ONGC
265.00
273.00
278.00
286.00
291.00
PNB
1,063.00
1,082.00
1,092.00
1,110.00
1,121.00
POWERGRID
98.00
100.00
100.00
102.00
103.00
RANBAXY
527.00
539.00
547.00
560.00
567.00
RCOM
84.00
87.00
88.00
91.00
93.00
RELCAPITAL
479.00
490.00
497.00
508.00
515.00
RELIANCE
930.00
941.00
948.00
959.00
967.00
RELINFRA
544.00
556.00
566.00
578.00
588.00
RPOWER
115.00
117.00
117.00
119.00
120.00
SAIL
138.00
139.00
141.00
142.00
144.00
SBIN
2,227.00
2,263.00
2,283.00
2,319.00
2,340.00
SIEMENS
838.00
856.00
870.00
888.00
902.00
STER
165.00
168.00
170.00
174.00
176.00
SUNPHARMA
458.00
468.00
474.00
484.00
490.00
SUZLON
50.00
52.00
53.00
55.00
56.00
TATAMOTORS
1,066.00
1,081.00
1,090.00
1,105.00
1,115.00
TATAPOWER
1,206.00
1,219.00
1,229.00
1,242.00
1,252.00
TATASTEEL
575.00
582.00
586.00
593.00
597.00
TCS
1,134.00
1,146.00
1,162.00
1,173.00
1,189.00
UNITECH
34.00
35.00
35.00
36.00
36.00
WIPRO
436.00
441.00
446.00
451.00
456.00
Technical Research Team
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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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