Technical Research | August 18, 2011

Daily Technical Report

Sensex (16841) / Nifty (5057)
Markets opened on a flat note and traded with immense volatility to close marginally above the initial opening level. On the sector front Realty, Auto and Banking counters were among the major losers, whereas IT, TECk and FMCG were among the major gainers. The advance decline ratio was in favor of declining counters (A=890 D=1954). (Source
www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
On daily chart of Sensex we are observing a Japanese candlestick pattern which resembles a Bullish Harami. This pattern requires confirmation. However, no such formation is seen on daily chart of Nifty.
Source: Falcon
Bullish Harami

Trading strategy:
Markets opened flat in line with the global cues and traded with immense volatility throughout the trading session to close in positive territory. The candlestick pattern formation on daily chart of Sensex suggest that a minor pullback is on the cards but requires a confirmation in the form of a closing above the high i.e. 17000/5112 level. If yesterdays high of 17000/5112 is crossed indices are likely to test 17050-17250/5135-5195 levels. On the other hand if indices breach 16708/5017 then are likely to test 16430/4945 level.

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Technical Research | August 18, 2011

Daily Pivot Levels For Nifty 50 Stocks

SCRIPS SENSEX NIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA DLF DRREDDY GAIL HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,559 4,967 984 130 1,128 1,415 376 1,738 672 268 277 166 1,452 416 398 633 449 1,866 137 307 884 108 2,367 197 498 55 420 1,584 705 1,147 171 268 1,000 102 466 71 395 737 432 83 104 2,119 224 843 130 462 35 756 1,047 455 954 331 S1 16,700 5,012 992 132 1,149 1,434 386 1,758 679 274 283 172 1,478 427 411 647 458 1,903 140 312 897 110 2,408 201 506 57 433 1,614 712 1,166 173 273 1,022 102 473 73 404 746 442 84 105 2,144 228 858 132 473 36 767 1,060 464 977 337 PIVOT 16,850 5,062 999 134 1,188 1,453 394 1,779 689 280 287 179 1,499 437 418 659 465 1,927 143 315 919 113 2,437 203 516 58 443 1,634 721 1,199 176 277 1,051 104 477 76 414 760 450 86 107 2,189 231 876 134 482 38 784 1,073 469 993 345 R1 16,991 5,107 1,006 136 1,209 1,472 404 1,799 696 286 294 184 1,525 447 431 672 475 1,964 146 320 932 116 2,478 206 524 59 456 1,664 728 1,218 178 282 1,072 104 485 78 423 769 460 87 108 2,215 235 891 136 493 38 795 1,086 478 1,016 352 R2 17,141 5,157 1,013 138 1,247 1,492 411 1,819 706 293 298 191 1,546 457 439 684 482 1,989 149 324 955 119 2,506 208 533 60 467 1,684 737 1,250 180 287 1,101 106 489 81 432 784 468 89 109 2,259 238 909 138 502 40 812 1,098 484 1,033 359

Technical Research Team

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Technical Research | August 18, 2011 Technical Report

RESEARCH TEAM
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head - Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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