Technical Research | September 08, 2011
Daily Technical Report
Sensex (17065) / Nifty (5125)
Markets opened with an upside gap and traded with
Exhibit 1: Sensex Daily Chart
positive bias throughout the day to close well above 17000
/ 5100 mark. On the sector front, Realty, Power and
Capital Goods counters were among the major gainers.
The advance decline ratio was in favor of advancing
counters (A=1938 D=913). (Source - www.bseindia.com)
Formation
• We are witnessing a positive crossover in “ADX (9)”
indicator on the Daily chart.
Trading strategy:
Indices opened well above “20 Days EMA” and traded with
a strong optimism throughout the session. As mentioned in
Source: Falcon
our previous report, a positive up move was witnessed after
sustaining above Tuesday’s high of
16895
/
5073.
Subsequently, indices tested resistance level of 17100 /
5150 during the session and corrected marginally from the
day’s high. We are now observing a positive crossover in
“ADX (9)” indicator which indicates possibility of a further
up move if indices break yesterday’s high of 17157 / 5155.
In this case, they are likely to test 17250 - 17350 / 5200 -
5230 levels. On the downside, 16900 - 16760 / 5065 -
5030 levels may act as support in coming trading sessions.
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1
Technical Research | September 08, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,813
16,939
17,048
17,174
17,283
NIFTY
5,040
5,082
5,118
5,161
5,197
ACC
996
1,031
1,055
1,091
1,115
AMBUJACEM
134
141
145
152
156
AXISBANK
1,127
1,135
1,147
1,155
1,167
BAJAJ-AUTO
1,607
1,624
1,648
1,665
1,689
BHARTIARTL
394
398
402
406
410
BHEL
1,735
1,763
1,781
1,809
1,827
BPCL
659
666
671
678
684
CAIRN
272
275
279
282
286
CIPLA
273
278
281
287
290
DLF
194
199
203
208
213
DRREDDY
1,450
1,461
1,475
1,487
1,500
GAIL
418
422
428
433
438
HCLTECH
390
398
404
413
419
HDFC
652
660
665
673
679
HDFCBANK
467
477
484
494
501
HEROMOTOCO
2,113
2,143
2,165
2,195
2,217
HINDALCO
151
155
159
164
168
HINDUNILVR
316
318
320
323
325
ICICIBANK
882
889
898
906
914
IDFC
110
113
115
118
120
INFY
2,244
2,268
2,291
2,315
2,338
ITC
197
199
201
203
205
JINDALSTEL
534
549
559
574
584
JPASSOCIAT
66
69
70
73
75
KOTAKBANK
455
462
466
473
477
LT
1,623
1,652
1,673
1,701
1,722
M&M
761
773
792
804
823
MARUTI
1,073
1,100
1,120
1,146
1,166
NTPC
160
164
166
170
172
ONGC
259
261
262
264
266
PNB
919
936
952
969
984
POWERGRID
95
96
97
98
99
RANBAXY
468
477
485
495
503
RCOM
84
86
89
91
94
RELCAPITAL
418
423
430
435
442
RELIANCE
814
824
834
843
853
RELINFRA
462
470
477
485
492
RPOWER
82
83
85
87
89
SAIL
115
118
121
124
126
SBIN
1,958
1,993
2,018
2,053
2,077
SESAGOA
227
230
235
238
243
SIEMENS
851
859
866
873
880
STER
132
134
136
139
141
SUNPHARMA
481
487
492
498
503
SUZLON
40
41
41
42
42
TATAMOTORS
741
755
768
782
794
TATAPOWER
989
1,014
1,033
1,058
1,077
TATASTEEL
490
494
499
503
508
TCS
1,010
1,021
1,035
1,046
1,060
WIPRO
324
327
329
332
334
Technical Research Team
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T
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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