Technical Research | May 30, 2011
Daily Technical Report
Sensex (18266) / Nifty (5476)
Markets opened up with a gap and traded with positive bias
Hence, if indices trade and close above 18440 / 5520 levels,
throughout the day to close in green. The strength was visible
then there is high probability that indices may test
across all the sectors, only Auto and Consumer Durable ended
18560 - 18798 - 19037 / 5563 - 5636 - 5709 levels. On the
up with a marginal loss. The advance decline ratio was in favour
downside, 18020 - 17786 / 5401 - 5328 levels may act as a
of advancing counters (A=1713 D=1078). (Source - Iris software)
support for the coming week.
Stock-specific activity could be seen during the pullback and,
Formation
hence, traders can trade with a positive bias in specific large
„ On the Weekly chart, after a "Hammer", we are observing
and mid-cap counters.
a candlestick pattern that resembles a "Dragonfly Doji", which
signals that the prior downtrend may be losing momentum.
Exhibit 1: Sensex Hourly Weekly Chart
„ On the Daily chart, there is no prominent pattern
Trading strategy:
Indices, after breaching the March 2011 low of 17792 /5348,
have sharply bounced back to close above it. At present, prices
are below the 20-day SMA but the positive candlestick formation
on the daily chart suggests a temporary positive bias. Even the
Dragonfly Doji
long-legged "Dragonfly Doji" formation on the weekly chart
Source: Falcon
suggests that the prior downtrend is losing momentum.
Stock Recommendations:
Exhibit 2: HCC (June Futures) Daily Chart
Stock - HCC (June Futures)
Action - Buy
Range
:
`29.90 - 29.70
Stop Loss
:
`28.45
Target
:
`33.00
Source: Falcon
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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Technical Research | May 30, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18006
18136
18217
18347
18429
NIFTY
5386
5431
5459
5503
5531
ABB
837
844
854
861
872
ACC
983
992
1000
1008
1017
AMBUJACEM
133
134
137
138
141
AXISBANK
1197
1209
1218
1230
1240
BHARTIARTL
367
370
372
375
377
BHEL
1905
1921
1931
1947
1958
BPCL
611
619
626
635
642
CAIRN
340
344
347
350
353
CIPLA
313
316
320
323
327
DLF
213
219
223
229
233
GAIL
427
431
437
441
447
HCLTECH
492
500
509
517
526
HDFC
634
645
652
663
670
HDFCBANK
2243
2273
2293
2323
2342
HEROHONDA
1799
1825
1859
1884
1919
HINDALCO
183
190
195
202
207
HINDUNILVR
298
300
303
306
309
ICICIBANK
1014
1041
1057
1085
1101
IDEA
60
64
66
69
71
IDFC
125
132
135
141
145
INFOSYSTCH
2738
2763
2785
2810
2832
ITC
186
188
189
190
191
JINDALSTEL
630
636
643
649
656
JPASSOCIAT
78
80
81
83
84
KOTAKBANK
420
429
435
444
450
LT
1607
1623
1644
1660
1681
M&M
671
688
698
715
725
MARUTI
1191
1206
1217
1232
1243
NTPC
164
166
170
172
175
ONGC
271
277
281
287
291
PNB
1045
1061
1070
1086
1096
POWERGRID
95
96
97
99
99
RANBAXY
502
507
511
516
521
RCOM
78
82
84
87
89
RELCAPITAL
464
476
484
496
504
RELIANCE
925
935
944
954
963
RELINFRA
527
543
554
570
581
RPOWER
106
111
115
120
124
SAIL
141
142
143
145
146
SBIN
2185
2210
2226
2251
2267
SIEMENS
848
859
866
876
884
STER
166
167
168
169
170
SUNPHARMA
433
439
444
450
456
SUZLON
49
50
51
51
52
TATAMOTORS
1022
1056
1115
1149
1208
TATAPOWER
1171
1188
1206
1223
1240
TATASTEEL
557
571
580
594
602
TCS
1130
1137
1144
1151
1157
UNITECH
29
31
32
34
35
WIPRO
428
435
440
447
452
Technical Research Team
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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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
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3952 6600
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