Technical Research | September 20, 2011

Daily Technical Report

Sensex (16745) / Nifty (5032)
In yesterdays trading session, we witnessed a gap down opening due to negativity across global indices after which our markets traded in a narrow range to give a close in negative territory. On the sector front, Capital Goods, Banking and Power counters were among the major losers whereas Consumer Durables and Auto were among the gainers. The advance decline ratio was in favor of declining counters (A=1358 D=1415). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
We are now observing Upward Sloping Trend Line joining two lows of 15765 and 16374 / 4720 and 4911, which can be considered as the immediate support level.

Trading strategy:
As seen on the chart, the Upward sloping Trend Line is the next support and is placed at 16600 / 4980 levels. Looking at the global clues and lack of volumes in yesterdays session, in todays session too Indices are likely to trade with no clear direction. In case Indices trade convincingly below the mentioned support level, we may witness some selling pressure and Indices then may drift towards recent swing low of 16374 / 4911. On the upside, 16990 17125 / 5068 5144 levels may act as resistance in coming trading sessions.

Source: Falcon

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Technical Research | September 20, 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 16,617 4,991 1,019 141 1,084 1,570 375 1,634 645 284 270 198 1,489 419 374 645 473 2,171 139 333 843 109 2,321 193 534 67 461 1,535 782 1,076 165 261 962 96 474 78 390 809 433 78 105 1,891 216 848 126 454 38 155 968 447 1,001 333 S1 16,681 5,011 1,035 142 1,094 1,586 381 1,644 654 288 273 202 1,502 427 383 649 479 2,186 142 335 851 111 2,342 194 540 69 467 1,548 791 1,108 167 265 970 97 480 80 395 815 439 79 107 1,904 218 853 128 464 39 158 977 451 1,010 337 PIVOT 16,774 5,040 1,045 144 1,109 1,608 385 1,661 660 290 278 205 1,515 431 388 655 483 2,201 144 338 864 113 2,377 196 544 70 472 1,573 797 1,128 170 272 975 99 490 81 400 822 450 80 108 1,918 220 857 131 480 40 161 985 455 1,021 341 R1 16,838 5,060 1,060 146 1,120 1,625 391 1,672 670 293 282 208 1,528 438 397 659 489 2,216 146 340 873 115 2,397 197 549 72 478 1,586 806 1,161 172 276 982 100 496 83 404 829 456 81 109 1,931 222 863 133 490 40 165 994 458 1,030 345 R2 16,930 5,089 1,070 148 1,135 1,647 396 1,689 675 296 287 212 1,540 442 402 665 493 2,230 148 342 886 117 2,432 199 553 73 483 1,611 812 1,181 175 283 987 101 506 84 409 836 467 82 111 1,946 225 867 136 507 41 168 1,002 462 1,041 349

Technical Research Team

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Technical Research | September 20, 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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