Technical Research | September 20, 2011
Daily Technical Report
Sensex (16745) / Nifty (5032)
In yesterday’s trading session, we witnessed a gap down
Exhibit 1: Sensex Daily Chart
opening due to negativity across global indices after which
our markets traded in a narrow range to give a close in
negative territory. On the sector front, Capital Goods,
Banking and Power counters were among the major losers
whereas Consumer Durables and Auto were among the
gainers. The advance decline ratio was in favor of declining
counters (A=1358 D=1415). (Source - www.bseindia.com)
Formation
• We are now observing “Upward Sloping Trend Line”
joining two lows of 15765 and 16374 / 4720 and
4911, which can be considered as the immediate
support level.
Trading strategy:
Source: Falcon
As seen on the chart, the “Upward sloping Trend Line” is
the next support and is placed at 16600 / 4980 levels.
Looking at the global clues and lack of volumes in
yesterday’s session, in today’s session too Indices are likely
to trade with no clear direction. In case Indices trade
convincingly below the mentioned support level, we may
witness some selling pressure and Indices then may drift
towards recent swing low of 16374 / 4911. On the upside,
16990 - 17125 / 5068 - 5144 levels may act as resistance
in coming trading sessions.
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Technical Research | September 20, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,617
16,681
16,774
16,838
16,930
NIFTY
4,991
5,011
5,040
5,060
5,089
ACC
1,019
1,035
1,045
1,060
1,070
AMBUJACEM
141
142
144
146
148
AXISBANK
1,084
1,094
1,109
1,120
1,135
BAJAJ-AUTO
1,570
1,586
1,608
1,625
1,647
BHARTIARTL
375
381
385
391
396
BHEL
1,634
1,644
1,661
1,672
1,689
BPCL
645
654
660
670
675
CAIRN
284
288
290
293
296
CIPLA
270
273
278
282
287
DLF
198
202
205
208
212
DRREDDY
1,489
1,502
1,515
1,528
1,540
GAIL
419
427
431
438
442
HCLTECH
374
383
388
397
402
HDFC
645
649
655
659
665
HDFCBANK
473
479
483
489
493
HEROMOTOCO
2,171
2,186
2,201
2,216
2,230
HINDALCO
139
142
144
146
148
HINDUNILVR
333
335
338
340
342
ICICIBANK
843
851
864
873
886
IDFC
109
111
113
115
117
INFY
2,321
2,342
2,377
2,397
2,432
ITC
193
194
196
197
199
JINDALSTEL
534
540
544
549
553
JPASSOCIAT
67
69
70
72
73
KOTAKBANK
461
467
472
478
483
LT
1,535
1,548
1,573
1,586
1,611
M&M
782
791
797
806
812
MARUTI
1,076
1,108
1,128
1,161
1,181
NTPC
165
167
170
172
175
ONGC
261
265
272
276
283
PNB
962
970
975
982
987
POWERGRID
96
97
99
100
101
RANBAXY
474
480
490
496
506
RCOM
78
80
81
83
84
RELCAPITAL
390
395
400
404
409
RELIANCE
809
815
822
829
836
RELINFRA
433
439
450
456
467
RPOWER
78
79
80
81
82
SAIL
105
107
108
109
111
SBIN
1,891
1,904
1,918
1,931
1,946
SESAGOA
216
218
220
222
225
SIEMENS
848
853
857
863
867
STER
126
128
131
133
136
SUNPHARMA
454
464
480
490
507
SUZLON
38
39
40
40
41
TATAMOTORS
155
158
161
165
168
TATAPOWER
968
977
985
994
1,002
TATASTEEL
447
451
455
458
462
TCS
1,001
1,010
1,021
1,030
1,041
WIPRO
333
337
341
345
349
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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Research Team: 022-3935 7600
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