Technical Report
Date : 24/01/2011
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
5692
19007
RELINFRA
3.18
WIPRO
4.40
IT
(1.29)
High
5718
19065
BPCL
2.87
ONGC
2.56
FMCG
(1.28)
Low
5675
18932
SBIN
2.48
PNB
2.22
TECK
(1.02)
Close
5697
19008
SUZLON
2.22
ACC
2.14
OIL&GAS
0.78
% Chg
(0.26)
(0.20)
RCOM
2.17
DLF
2.11
BANKEX
0.77
Source : Falcon
SENSEX DLY CHART
The coming week being truncated coupled with the F&O Derivative expiry, we are likely to witness volatile
sessions. On the Daily chart, we are observing that prices are hovering above the 200-day SMA, which is at
18674 / 5600 levels. The previous week has confirmed the lower-top lower-bottom formation, and now the
narrow range body formation seems like a breather of the ongoing weekly down trend. We maintain our view that
if the indices trade and close below 18674 / 5600 levels,then selling pressure would intensify and the indices
may test 18500 - 17800 / 5550 - 5340 levels in the next couple of weeks. On the upside, the immediate
resistance is at 19170 / 5750 levels, and if the indices manage to cross this level, then a pull back up to 19450 -
19720 / 5833 - 5900 levels may be expected.
Traders holding short positions in the Nifty (Future) should maintain strict stop loss of 5761 level.
Stocks +ve Bias
Stocks -ve Bias
RANBAXY
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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