Technical Research | September 30, 2011
Daily Technical Report
Sensex (16698) / Nifty (5015)
Our benchmark indices opened on a flat note and traded
Exhibit 1: Sensex Daily Chart
with extreme choppiness during the first half but surged in
the second half of the session and thus closed marginally
above 5000 mark. On the sector front, Auto, IT and FMCG
counters were among the major gainers whereas Consumer
Durables ended on a losing side. The advance decline ratio
was in favor of declining counters (A=1265 D=1507).
(Source - www.bseindia.com)
Formation
• The “20 Day EMA” is placed at 16670 / 5010 level.
• The 61.8% Fibonacci retracement level of 17191 to
15801 / 5169 to 4758 is at 16660 / 5011 level.
Trading strategy:
Looking at the daily chart, it can be seen that indices have
Source: Falcon
closed marginally above "20. Day EMA" and
61.8%
Fibonacci retracement level which is considered as a stiff
resistance. However, considering the volatility in global
indices it is likely that our markets may open with a negative
bias.On the upside if indices manage to cross yesterday’s
high of 16756 / 5034 then they are likely to test 16900 -
17000 / 5060 - 5090. On the downside, 16317 - 16166 /
4906 - 4868 levels may act as a support in coming trading
sessions.
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Technical Research | September 30, 2011
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,151
16,424
16,590
16,864
17,030
NIFTY
4,857
4,936
4,985
5,064
5,113
ACC
1,067
1,079
1,088
1,100
1,109
AMBUJACEM
143
145
147
149
151
AXISBANK
1,043
1,056
1,068
1,082
1,094
BAJAJ-AUTO
1,473
1,506
1,527
1,560
1,581
BHARTIARTL
369
372
377
380
384
BHEL
1,579
1,622
1,651
1,695
1,724
BPCL
617
637
652
672
687
CAIRN
266
272
277
282
287
CIPLA
281
285
287
291
293
DLF
214
219
222
227
231
DRREDDY
1,466
1,478
1,491
1,503
1,516
GAIL
410
418
424
432
438
HCLTECH
397
404
408
415
420
HDFC
627
640
650
663
673
HDFCBANK
444
457
466
479
488
HEROMOTOCO
1,875
1,938
1,978
2,041
2,082
HINDALCO
126
130
132
136
138
HINDUNILVR
326
335
341
350
356
ICICIBANK
844
867
882
905
919
IDFC
109
111
112
115
116
INFY
2,432
2,492
2,531
2,590
2,629
ITC
193
198
200
205
208
JINDALSTEL
504
513
519
528
534
JPASSOCIAT
67
71
73
77
79
KOTAKBANK
448
462
471
485
494
LT
1,320
1,345
1,373
1,398
1,426
M&M
762
788
806
832
850
MARUTI
1,033
1,069
1,093
1,129
1,153
NTPC
162
165
168
171
173
ONGC
256
262
267
273
278
PNB
935
953
964
982
993
POWERGRID
95
96
98
99
100
RANBAXY
487
494
501
508
516
RCOM
76
77
78
79
80
RELCAPITAL
346
353
360
367
375
RELIANCE
773
791
802
819
830
RELINFRA
391
397
403
410
416
RPOWER
78
79
80
81
81
SAIL
102
106
108
112
115
SBIN
1,892
1,922
1,942
1,972
1,992
SESAGOA
187
189
192
194
197
SIEMENS
803
832
848
877
893
STER
115
117
118
120
122
SUNPHARMA
460
463
467
471
475
SUZLON
36
37
37
38
39
TATAMOTORS
147
154
158
165
170
TATAPOWER
98
100
102
104
106
TATASTEEL
409
421
430
442
451
TCS
1,023
1,042
1,055
1,074
1,087
WIPRO
339
343
347
351
354
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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