Technical Report
Date : 10/01/2011
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
6031
20164
IDFC
0.03
HINDALCO
7.42
METAL
(4.03)
High
6051
20211
TATAMOTORS
6.26
AUTO
(3.26)
Low
5884
19629
SUZLON
4.67
CD
(3.18)
Close
5905
19692
STER
4.60
TECK
(2.89)
% Chg
(2.38)
(2.44)
RELINFRA
4.53
IT
(2.83)
Source : Falcon
SENSEX DLY CHART
Markets are at crucial support levels; the upward sloping trendline joining the two lows of 15960 and 19074 /
4786 and 5721 holds significance. Any weekly close below 19629 / 5883 levels would breach the upward sloping
trendline and confirm the “Bearish Engulfing” pattern on the weekly chart. Then there is high probability that the
indices may test 19321 - 19074 - 18954 / 5800 - 5721 - 5690 levels on the downside. On the other hand, if the
indices hold on to the upward sloping trendline then a bounce up to 20019 - 20266 / 6000 - 6067 levels cannot
be ruled out. Any extended up-move beyond 20664 / 6181 levels would only negate the “Bearish Engulfing”
pattern and confirm the resumption of the weekly up-trend.
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
Research Team: 022-3952 6600
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