Technical Report
Date : 21/03/2011
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
5475
18251
AMBUJACEM
0.53
RELINFRA
4.32
OIL&GAS
(2.67)
High
5483
18260
TATASTEEL
0.48
M&M
4.01
AUTO
(2.01)
Low
5366
17850
ITC
0.39
RELIANCE
3.92
REALTY
(1.65)
Close
5374
17879
RPOWER
3.40
CD
(1.48)
% Chg
(1.34)
(1.49)
BPCL
2.99
IT
(1.36)
Source : Falcon
SENSEX DLY CHART
Markets have been oscillating in the range of 17470 / 5233 on the downside and 18737 / 5608 on the upside
since the past six weeks. Now on the Daily chart, we see probability of a pattern that resembles a “Pennant”. At
present, prices are near the lower trendline of the pattern and any close below 17700 / 5300 levels would confirm
the pattern. In case such a breakdown occurs, the indices are likely to test prior lows of 17295 / 5177 or may
even extend further. On the upside, resistance is at 18310 - 18490 - 18736 / 5500 - 5550 - 5600 levels.
Any close below the higher low of 17470 / 5233 levels would mean continuation of the ongoing downtrend on the
Weekly charts.
Stocks +ve Bias
Stocks -ve Bias
HDIL
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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