Technical Research | October 05, 2011
Daily Technical Report
Sensex (15865) / Nifty (4772)
Markets opened marginal lower and moved towards the
Exhibit 1: Sensex Daily Chart
mentioned gap area during the first half. We observed
immense selling pressure near this resistance zone which
dragged indices to test 15756 / 4720 level. On the sector
front, Banking, Auto and PSU counters were among the
major losers whereas Capital Goods sector ended with a
marginal gain. The advance decline ratio was strongly in
favor of declining counters (A=985 D=1762). (Source -
www.bseindia.com)
Formation
• No specific formation is seen on the chart.
Trading strategy:
Yesterday during the second half, strong selling pressure
Source: Falcon
was observed near the mentioned resistance zone of 16404
to 16256 / 4924 to 4879. This dragged indices sharply
towards the recent bottom of 15756 / 4720. However,
indices managed to bounce from this support level in
yesterday’s session and closed below 16000 / 4800 mark.
Going forward, we reiterate that 15756 / 4720 level is
likely to act as crucial support level. Any sustainable move
below this level would result in a further fall and can take
indices to test lower levels of 15650 - 15330 / 4675 -
4540 levels. On the upside, the gap area of 16404 to
16256 / 4924 to 4879 is likely to act as a strong resistance
in coming trading sessions.
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1
Technical Research | October 05, 2011
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
15,481
15,673
15,938
16,130
16,395
NIFTY
4,649
4,710
4,790
4,852
4,932
ACC
1,078
1,089
1,101
1,112
1,123
AMBUJACEM
145
147
149
151
152
AXISBANK
924
942
969
987
1,014
BAJAJ-AUTO
1,445
1,469
1,501
1,525
1,557
BHARTIARTL
355
362
373
380
391
BHEL
313
318
323
327
332
BPCL
653
664
674
685
695
CAIRN
254
260
264
270
274
CIPLA
273
277
282
285
290
DLF
192
196
201
205
209
DRREDDY
1,422
1,437
1,456
1,470
1,489
GAIL
400
405
412
418
425
HCLTECH
379
386
393
400
407
HDFC
607
614
624
631
642
HDFCBANK
433
441
448
456
464
HEROMOTOCO
1,893
1,927
1,961
1,995
2,029
HINDALCO
120
122
125
127
130
HINDUNILVR
314
320
329
335
343
ICICIBANK
759
780
812
833
866
IDFC
104
106
110
112
115
INFY
2,376
2,407
2,445
2,476
2,513
ITC
185
188
192
195
198
JINDALSTEL
428
442
460
474
491
JPASSOCIAT
64
66
70
72
76
KOTAKBANK
427
434
444
451
461
LT
1,285
1,312
1,338
1,364
1,390
M&M
749
763
788
802
827
MARUTI
1,068
1,088
1,102
1,122
1,136
NTPC
160
162
164
166
168
ONGC
258
261
265
268
273
PNB
834
879
916
961
998
POWERGRID
94
95
97
97
99
RANBAXY
504
510
517
523
530
RCOM
69
70
72
73
75
RELCAPITAL
309
316
322
329
335
RELIANCE
750
761
776
787
801
RELINFRA
367
372
377
383
388
RPOWER
75
76
79
80
83
SAIL
96
98
100
102
104
SBIN
1,681
1,734
1,803
1,857
1,926
SESAGOA
187
190
194
197
201
SIEMENS
805
818
828
841
852
STER
99
102
107
109
114
SUNPHARMA
440
446
455
461
469
SUZLON
34
35
36
37
38
TATAMOTORS
140
143
148
151
156
TATAPOWER
94
96
97
98
99
TATASTEEL
383
390
398
405
413
TCS
1,015
1,030
1,045
1,060
1,075
WIPRO
320
327
332
339
345
Technical Research Team
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2
Technical Report
RESEARCH TEAM
Shardul Kulkarni
Head - Technicals
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
Ankur Lakhotia
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3935 7600
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