Technical Research | July 25, 2011
Daily Technical Report
Sensex (18722) / NIFTY (5634)
Markets opened higher and traded with positive bias throughout
Exhibit 1: Sensex Daily Chart
the day to close near the day's high. On the sector front,
Banking,Teck and Auto were among the major gainers,
whereas Consumer Durables ended with marginal losses. The
advance decline ratio was in favor of advancing counters
(A=1715 D=1188). (Source - www.bseindia.com)
Formation
„ On the Daily chart, we are witnessing a chart pattern which
resembles a "Bullish Triangle" joining two significant highs of
Source: Falcon
19132 & 18766 /
5740 & 5645 and two significant lows of
to test an intermediate resistance level of 19132 / 5740. Also,
18326 & 18415 / 5496 & 5532.
due to RBI monetary policy and Derivatives expiry, there is a
Trading strategy:
possibility of high volatility in coming trading sessions. We
We are observing a "Bullish Triangular" pattern in Daily chart.
reiterate our view that a weekly closing above 19132 / 5740
A breakout of said pattern will be confirmed only if prices move
level would indicate a clear direction of the trend. Any
above 18766 / 5645 level. If indices manage to give a break
move beyond these levels, indices may test 19540 - 19700 /
out of this pattern then a positive momentum is likely to be
5850 - 5900 levels. On the downside, 18415 - 18326 /
witnessed in coming week. In such scenario, we expect markets
5532 - 5496 levels may act as strong support zone for the
markets.
Stock Recommendations:
Exhibit 2: Ambuja Cement (NSE Cash) - Daily Chart
Stock - Ambuja Cement (NSE Cash)
Action - Buy
Range
:
`131-125
Stop Loss
:
`119.95
Target
:
`147
Time Frame :
3 - 4 Weeks
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 | July 25, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,454
18,588
18,668
18,802
18,881
NIFTY
5,540
5,587
5,614
5,661
5,688
ABB
864
873
885
895
907
ACC
966
980
989
1,003
1,012
AMBUJACEM
124
127
129
131
133
AXISBANK
1,212
1,255
1,283
1,326
1,354
BHARTIARTL
390
401
407
417
423
BHEL
1,920
1,948
1,965
1,992
2,009
BPCL
648
658
665
675
682
CAIRN
316
321
324
329
333
CIPLA
313
317
320
324
327
DLF
234
238
241
244
248
GAIL
455
461
464
470
473
HCLTECH
499
502
505
508
510
HDFC
695
701
707
713
719
HDFCBANK
494
498
502
506
511
HEROHONDA
1,776
1,798
1,811
1,833
1,845
HINDALCO
173
175
177
179
182
HINDUNILVR
329
332
334
337
340
ICICIBANK
1,038
1,053
1,062
1,077
1,085
IDEA
78
82
84
88
90
IDFC
136
139
140
143
145
INFY
2,740
2,784
2,814
2,858
2,888
ITC
205
206
208
209
210
JINDALSTEL
620
624
629
633
639
JPASSOCIAT
74
75
75
76
76
KOTAKBANK
471
478
484
491
497
LT
1,785
1,806
1,818
1,839
1,851
M&M
698
711
719
732
739
MARUTI
1,149
1,155
1,162
1,168
1,175
NTPC
180
182
184
186
189
ONGC
275
277
280
282
284
PNB
1,128
1,149
1,162
1,183
1,196
POWERGRID
106
108
109
111
112
RANBAXY
528
535
541
548
553
RCOM
88
91
93
95
97
RELCAPITAL
584
591
595
603
607
RELIANCE
856
865
871
879
885
RELINFRA
570
575
579
584
587
RPOWER
113
114
114
115
116
SAIL
128
130
131
133
134
SBIN
2,442
2,470
2,488
2,517
2,535
SIEMENS
920
926
932
939
945
STER
166
168
168
170
171
SUNPHARMA
502
507
512
517
521
SUZLON
52
52
53
54
54
TATAMOTORS
970
983
994
1,008
1,019
TATAPOWER
1,271
1,286
1,305
1,321
1,340
TATASTEEL
571
578
582
589
593
TCS
1,119
1,126
1,134
1,141
1,149
UNITECH
34
35
36
36
37
WIPRO
400
403
405
408
410
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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