Technical Report
Date : 02/05/2011
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
5783
19293
SUNPHARMA
3.23
L&T
3.92
CG
(2.72)
High
5804
19357
AMBUJACEM
3.21
ONGC
3.54
REALTY
(2.66)
Low
5706
19015
HINDUNILVR
2.35
AXISBANK
3.50
BANKEX
(1.76)
Close
5750
19136
HCLTECH
2.09
JPASSOCIAT
2.89
CD
(1.30)
% Chg
(0.62)
(0.81)
CAIRN
1.64
KOTAKBANK
2.87
FMCG
0.88
Source : Falcon
NIFTY DLY CHART
After a steep rally for consecutive 11 trading sessions from 17792 to 19811 / 5348 to 5944 levels, markets are
witnessing a time-wise correction. On the weekly charts for the past four weeks, markets are trading in a band of
19811 to 18976 / 5944 to 5693 levels. At present prices have closed near the lower band of the range. The
immediate swing low of 18976 / 5693 holds significance. Any close below this level may lead indices to test 50 %
(18801 / 5647 level) or 61.8 % (18563 / 5576 level) Fibonacci retracement levels of prior upward impulse wave.
On the upside, resistance is at 19540 - 19640 / 5850 - 5900 levels any move beyond these levels would resume
the upside momentum to test 20210 - 20530 / 6051 - 6150 levels.
Stocks +ve Bias
Stocks -ve Bias
The stocks mentioned above are given considering the general direction of the trend expected over a period of 2 or
3 days. Investors / Traders are expected to use their own discretion while taking any action related to the stock.
For Private Circulation Only.
Technical Report
RESEARCH TEAM
Shardul Kulkarni
Head - Technicals
Mileen Vasudeo
Technical Analyst
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
Research Team: 022-3952 6600
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