Technical Research | September 07, 2011
Daily Technical Report
Sensex (16863) / Nifty (5064)
Markets opened on a flat note and traded in a wide range throughout the day to close marginally above 20 Days EMA. On the sector front, Oil & Gas, IT and Capital Goods counters were among the major gainers whereas Realty counters ended with a loss. The advance decline ratio was in favor of advancing counters (A=1633 D=1169). (Source www.bseindia.com)
Exhibit 1: Sensex Daily Chart
Formation
Indices have closed marginally above 20 EMA on the Daily chart. EMA is placed at 16815 / 5048 level.
Trading strategy:
Our benchmark indices opened on a quite note, but buying emerged at lower levels and indices closed marginally above 20 days EMA at 16815 / 5048.Going forward, if indices manage to sustain above yesterdays high of 16895 / 5073 then they are likely to rally towards 16990 17100 / 5114 5150 levels. On the downside, 16700 16488 / 5000 4942 levels may provide decent support for the indices. Any violation of these levels can attract some selling pressure which may drag indices lower to test 16377 - 16230 / 4916 4870 levels.
Source: Falcon
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Technical Research | September 07, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS SENSEX NIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA DLF DRREDDY GAIL HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,342 4,897 985 128 1,061 1,589 383 1,671 662 266 271 188 1,453 409 374 637 453 2,117 148 313 839 106 2,184 199 521 60 426 1,585 748 1,074 160 252 897 93 464 81 401 759 443 81 108 1,905 221 845 125 476 37 737 979 471 990 304 S1 16,602 4,981 1,001 133 1,101 1,616 391 1,714 666 270 274 194 1,464 418 385 646 463 2,142 152 316 864 109 2,243 201 535 63 442 1,614 772 1,088 161 257 916 94 470 84 412 790 455 82 112 1,942 227 851 130 484 39 751 990 483 1,012 314 PIVOT 16,749 5,027 1,011 137 1,125 1,656 398 1,737 672 273 275 200 1,474 424 391 651 470 2,175 154 318 880 111 2,282 202 545 65 452 1,632 786 1,104 163 259 927 96 479 86 422 808 465 84 115 1,970 230 860 132 494 40 763 1,006 490 1,027 322 R1 17,009 5,111 1,027 143 1,165 1,683 406 1,780 677 277 278 205 1,485 433 401 660 479 2,200 158 322 905 114 2,341 204 559 68 469 1,662 811 1,118 164 264 946 97 486 89 434 839 477 85 119 2,007 236 867 137 502 41 777 1,018 503 1,049 331 R2 17,155 5,157 1,038 146 1,189 1,722 414 1,803 682 280 279 211 1,495 439 407 665 486 2,233 160 324 921 116 2,379 205 569 70 478 1,679 825 1,133 166 266 957 98 495 92 444 857 487 87 122 2,034 240 876 139 513 42 788 1,034 510 1,064 339
Technical Research Team
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Technical Research | September 07, 2011 Technical Report
RESEARCH TEAM
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head - Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst
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