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Technical Research | August 19, 2011

Daily Technical Report


Sensex (16470) / Nifty (4944)
Markets opened on a neutral bias and traded with extreme pessimism throughout the day to give a close in the negative territory. On the sector front IT, Banking and Teck counters were among the major losers. The advance decline ratio was in favor of declining counters (A=679 D=2180). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No particular formation is seen on the chart.

Trading strategy:
Markets opened on a flat note in-line with global cues and faced immense selling pressure throughout the trading session. The major sell-off was witnessed mainly in Banking and IT counters. Looking at the Global Indices, we expect our benchmark Indices to open lower. Thus, if indices breach yesterdays low of 16433 / 4932 and trade convincingly below these levels then they are likely to test lower levels of 16300 16200 - 16000 / 4900 4850 4800 levels. However, considering the oversold position of momentum oscillator on daily chart, there is a possibility of minor bounce back if indices manage to trade above 16521 / 4954. Traders who have short positions should maintain this level as their protective stop loss. In this case, indices may test 16650 16750 / 5000 5025 levels.
Source: Falcon

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Technical Research | August 19, 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 16,123 4,839 982 129 1,052 1,378 382 1,736 667 270 278 169 1,409 429 371 616 449 1,925 132 313 826 101 2,263 201 471 56 419 1,605 689 1,121 170 270 961 101 464 73 372 723 384 81 101 1,996 219 852 122 467 37 723 1,004 451 925 311 S1 16,296 4,891 994 131 1,081 1,408 387 1,750 673 273 281 175 1,436 434 384 628 456 1,939 135 315 845 104 2,309 202 483 57 427 1,616 703 1,140 172 273 986 102 470 75 384 732 404 82 103 2,037 223 860 125 473 38 738 1,023 457 944 320 PIVOT 16,607 4,985 1,003 133 1,127 1,433 394 1,769 680 278 286 182 1,477 439 404 648 465 1,951 139 318 880 109 2,388 204 503 58 438 1,633 719 1,172 175 277 1,017 103 478 76 402 746 431 85 105 2,111 229 870 130 481 39 762 1,051 465 977 333 R1 16,780 5,038 1,014 135 1,155 1,463 399 1,782 687 281 290 189 1,504 443 417 661 472 1,965 142 320 899 112 2,434 206 515 59 447 1,645 733 1,191 177 280 1,042 104 484 78 413 755 451 86 107 2,152 232 878 133 486 40 777 1,069 471 995 341 R2 17,090 5,131 1,024 137 1,201 1,488 407 1,801 694 286 295 196 1,546 448 438 681 482 1,977 147 323 934 116 2,514 207 535 60 458 1,661 749 1,222 180 283 1,073 105 492 79 432 769 478 88 110 2,226 238 888 138 494 41 802 1,097 479 1,028 354

Technical Research Team


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Technical Research | August 19, 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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