Technical Research | October 07, 2011
Daily Technical Report
Sensex (15792) / Nifty (4751)
Markets opened on a flat note and traded with immense
Exhibit 1: Sensex Daily Chart
volatility throughout the day. Selling pressure intensified
during the second half which dragged indices to close near
the lowest point of the day. On the sector front, Banking,
PSU and Consumer Durables counters were among the
major losers whereas Healthcare sector ended with a
marginal gain. The advance decline ratio was strongly in
favor of declining counters (A=1086 D=1642). (Source -
www.bseindia.com)
Formation
• No specific formation is seen on the chart.
Source: Falcon
Trading strategy:
Indices opened on a quite note and moved towards the
hourly 20 EMA during the first half of the session. We
observed strong selling pressure near the hourly 20 EMA
which was placed at 16076/4832. Subsequently, indices
drifted sharply towards 15800 / 4750 level and closed
almost near the lowest point of the day. Considering the
Global clues, our benchmark indices are likely to open on a
positive note. Going forward, Wednesday’s high of
16045/4828 would act as a near term resistance in coming
trading session. A move above this level may lead to short
covering and indices then may rally towards the gap area
of 16256 to 16404 / 4879 to 4924. On the downside,
15746 / 4720 remains to be a 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.
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1
Technical Research | October 07, 2011
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
15,582
15,687
15,866
15,971
16,150
NIFTY
4,687
4,719
4,773
4,806
4,860
ACC
1,068
1,087
1,102
1,121
1,136
AMBUJACEM
144
147
149
151
154
AXISBANK
928
940
957
970
987
BAJAJ-AUTO
1,466
1,482
1,498
1,514
1,530
BHARTIARTL
360
363
368
372
377
BHEL
300
307
316
323
333
BPCL
655
662
670
677
685
CAIRN
256
262
267
272
278
CIPLA
275
278
281
284
287
DLF
199
203
206
210
213
DRREDDY
1,431
1,458
1,477
1,504
1,523
GAIL
392
399
407
413
421
HCLTECH
385
390
395
401
406
HDFC
606
615
628
637
650
HDFCBANK
424
431
444
451
464
HEROMOTOCO
1,918
1,934
1,952
1,968
1,987
HINDALCO
114
117
122
125
130
HINDUNILVR
314
318
323
327
332
ICICIBANK
739
759
782
802
824
IDFC
107
109
110
111
113
INFY
2,387
2,417
2,458
2,488
2,529
ITC
189
192
195
197
200
JINDALSTEL
424
435
452
463
480
JPASSOCIAT
68
70
71
73
74
KOTAKBANK
411
420
434
443
457
LT
1,322
1,332
1,350
1,361
1,378
M&M
767
776
785
794
804
MARUTI
1,045
1,065
1,097
1,117
1,149
NTPC
161
162
164
166
167
ONGC
259
262
265
268
271
PNB
885
897
913
926
942
POWERGRID
95
95
96
97
98
RANBAXY
513
517
520
524
528
RCOM
71
72
73
74
75
RELCAPITAL
303
310
319
325
334
RELIANCE
753
760
769
776
785
RELINFRA
368
372
378
382
387
RPOWER
77
78
79
80
81
SAIL
96
97
100
101
103
SBIN
1,645
1,682
1,747
1,784
1,849
SESAGOA
188
191
194
196
199
SIEMENS
806
816
827
837
848
STER
100
102
106
108
111
SUNPHARMA
443
452
459
468
475
SUZLON
33
34
35
36
37
TATAMOTORS
143
145
149
151
154
TATAPOWER
94
96
98
100
102
TATASTEEL
393
397
402
406
411
TCS
1,027
1,035
1,049
1,057
1,071
WIPRO
316
322
332
338
348
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
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3935 7600
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