Technical Report
Date : 20/12/2010
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
5911
19699
SUZLON
6.22
M&M
2.74
IT
2.79
High
5956
19897
SAIL
5.32
TATAPOWER
2.08
TECK
2.16
Low
5855
19554
HEROHOND
4.59
SESAGOA
2.00
BANKEX
1.86
Close
5949
19865
TCS
3.57
HINDUNILVR
1.72
METAL
1.32
% Chg
0.96
1.10
INFOSYSTCH
2.88
MARUTI
1.58
CG
(0.29)
Source : Falcon
SENSEX DLY CHART
The coming week is likely to roll out with positive sentiment. On the Daily chart, the immediate resistance is at
19865 / 5960 levels, which is the value of the downward sloping trendline. However, the current price action on
the hourly chart indicates high probability of breach of the downward sloping trendline. Any close above 19910 /
5960 would propel the indices to test prior swing highs of 20217 / 6070. An extended move beyond this level
would confirm a higher-top higher-bottom formation on the Daily chart and the indices could retest 6150 - 6250
levels. On the downside, 19550 - 19300 / 5850 - 5800 levels may act as a support for the week.
Traders are advised to go long on the Nifty Future only above 5985 with a stop loss of 5860 for a target of
6300 in the next couple of weeks.
Stocks +ve Bias
Stocks -ve Bias
SAIL
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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