Technical Report
Date : 29/11/2010
Market Summary
Indices
Top 5 Gainers
Top 5 Losers
Sectoral Watch
Nifty
Sensex
Stocks
% Gain
Stocks
% Loss
Sector
% G / L
Open
5829
19392
SAIL
3.50
JPASSOCIAT
7.42
REALTY
(4.68)
High
5839
19418
CIPLA
2.38
RELINFRA
6.79
CD
(3.90)
Low
5690
18955
TCS
2.37
CAIRN
5.57
METAL
(2.54)
Close
5752
19137
DRREDDY
1.69
SESAGOA
5.50
POWER
(2.13)
% Chg
(0.94)
(0.82)
HCLTECH
1.49
RCOM
5.04
FMCG
(1.92)
Source : Falcon
SENSEX DLY CHART
Markets, after a sharp fall, have retraced 61.8% of the entire up-move, which started from 17819 to 21109 / 5349
to 6339, and this is a Fibonacci support level. Further, we are observing that the upper trendline of the Channel,
which was earlier acting as a resistance is expected to act as a support for the markets going ahead. Even the
upward gap (18823 to18845) on the Sensex coincides with the upper trendline, which could act as a support for
the markets. In view of the above observation, we are of the opinion that the markets are likely to witness a
bounce. On the upside, 19680 - 20000 / 5900 - 6000 levels in the coming week cannot be ruled out as the daily
and weekly oscillators are in an oversold zone.
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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