Technical Research | May 25, 2011
Daily Technical Report
Sensex (18012) / NIFTY (5395)
Markets opened on a subdued note traded in a narrow range
Exhibit 1: Sensex Daily chart
with choppiness to close with marginal gains. On the sectoral
front, Consumer Goods, Consumer Durables, Bankex and Oil
and gas sector witnessed marginal gains. The advance decline
ratio was marginally in favour of declining counters (A=1368
D=1437). (Source - Iris software)
Formation
On the Daily chart we are observing a narrow range body
formation which resembles a "Doji". Further there is a positive
Source: Falcon
divergence in the oscillators viz. RSI and stochastic.
Trading strategy:
The "Doji" body formation clearly reflects indecisiveness
prevailing at current levels. However the momentum oscillators
viz.RSI and stochastic are giving a positive divergence which
indicates that a pullback in the downtrend may be seen. On
the upside, if indices trade above 18110 / 5423 levels then it
may test 18230 - 19320 / 5450 - 5478 levels. On the downside
17900 / 5350 remains important support if breached then
indices may test sub 17750 / 5300 levels.
Stock Recommendations:
Exhibit 2: Yes Bank (May futures) Hourly Chart
Stock - Yes Bank Ltd (May fut.)
Action - Buy
Range
: `278.50 - 276.50
Stop Loss : `273.80
Target
: `290.00
Source: Falcon
Exhibit 3: LIC HSG (May futures) Hourly Chart
Stock - LIC HSG (May fut.)
Action - Buy
Range
: `217.50 - 215.00
Stop Loss : `214.30
Target
: `224.00
Source: Falcon
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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Technical Research | May 25, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,842.00
17,927.00
18,019.00
18,104.00
18,195.00
NIFTY
5,340.00
5,367.00
5,395.00
5,422.00
5,450.00
ABB
839.00
848.00
855.00
865.00
872.00
ACC
956.00
976.00
988.00
1,007.00
1,019.00
AMBUJACEM
128.00
131.00
134.00
138.00
141.00
AXISBANK
1,173.00
1,188.00
1,201.00
1,216.00
1,230.00
BHARTIARTL
364.00
367.00
371.00
374.00
377.00
BHEL
1,883.00
1,913.00
1,946.00
1,976.00
2,009.00
BPCL
611.00
615.00
623.00
627.00
635.00
CAIRN
329.00
333.00
337.00
341.00
345.00
CIPLA
307.00
310.00
313.00
316.00
318.00
DLF
209.00
214.00
220.00
225.00
231.00
GAIL
422.00
426.00
432.00
436.00
442.00
HCLTECH
477.00
484.00
489.00
496.00
501.00
HDFC
637.00
643.00
651.00
658.00
666.00
HDFCBANK
2,221.00
2,238.00
2,265.00
2,282.00
2,310.00
HEROHONDA
1,756.00
1,787.00
1,807.00
1,838.00
1,857.00
HINDALCO
181.00
184.00
186.00
189.00
192.00
HINDUNILVR
295.00
299.00
302.00
306.00
309.00
ICICIBANK
996.00
1,008.00
1,019.00
1,030.00
1,042.00
IDEA
63.00
64.00
65.00
66.00
66.00
IDFC
129.00
131.00
132.00
133.00
134.00
INFOSYSTCH
2,816.00
2,830.00
2,847.00
2,861.00
2,878.00
ITC
183.00
185.00
188.00
190.00
193.00
JINDALSTEL
611.00
620.00
626.00
635.00
642.00
JPASSOCIAT
78.00
79.00
80.00
81.00
82.00
KOTAKBANK
403.00
408.00
412.00
417.00
421.00
LT
1,582.00
1,612.00
1,633.00
1,664.00
1,685.00
M&M
668.00
678.00
684.00
693.00
699.00
MARUTI
1,178.00
1,191.00
1,209.00
1,222.00
1,239.00
NTPC
163.00
165.00
168.00
170.00
173.00
ONGC
260.00
263.00
266.00
269.00
272.00
PNB
1,001.00
1,025.00
1,042.00
1,066.00
1,082.00
POWERGRID
97.00
98.00
100.00
101.00
103.00
RANBAXY
488.00
493.00
499.00
503.00
509.00
RCOM
79.00
81.00
82.00
84.00
86.00
RELCAPITAL
477.00
486.00
493.00
501.00
508.00
RELIANCE
899.00
908.00
914.00
922.00
929.00
RELINFRA
516.00
526.00
541.00
551.00
565.00
RPOWER
108.00
110.00
111.00
112.00
113.00
SAIL
138.00
140.00
142.00
143.00
145.00
SBIN
2,183.00
2,203.00
2,235.00
2,255.00
2,287.00
SIEMENS
846.00
857.00
866.00
877.00
885.00
STER
158.00
161.00
163.00
165.00
167.00
SUNPHARMA
420.00
425.00
429.00
435.00
439.00
SUZLON
48.00
49.00
49.00
50.00
50.00
TATAMOTORS
1,095.00
1,109.00
1,125.00
1,139.00
1,155.00
TATAPOWER
1,182.00
1,197.00
1,210.00
1,224.00
1,238.00
TATASTEEL
548.00
557.00
563.00
572.00
578.00
TCS
1,120.00
1,135.00
1,154.00
1,169.00
1,188.00
UNITECH
26.00
29.00
33.00
36.00
40.00
WIPRO
435.00
437.00
441.00
444.00
448.00
Technical Research Team
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
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