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Global Research Limited

NIFTY50

WEEKLY REPORT
08th August - 12th August 2011

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

ACC
Weekly Pivots
STOCK R2 R1 PP S1 S2

ACC

1048.43

1008.22

979.78

939.57

911.13

Technical Overview
The stock had a correction phase in today's trading session. Its next major support is at 945, breach of this level may take the stock further downwards.

Technical Picture

Figure: 1 : Nifty50 Graph

RESISTANCE

SUPPORT

1000

945

www.capitalvia.com 3

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Ambuja Cements
Weekly Pivots
STOCK R2 R1 PP S1 S2

AMBUJACEM

138.53

131.37

125.83

118.67

113.13

Technical Overview
The stock moved with negative biasness throughout the week and made a low of 120.30. Its next major support is at 120, breach of this level will take the stock further down.

Technical Picture

Figure: 2 : Nifty50 Graph

RESISTANCE

SUPPORT

130.20

120

www.capitalvia.com 3

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Axis Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

AXISBANK

1439.23

1343.37

1271.68

1175.82

1104.13

Technical Overview
The stock has resisted at higher levels and had a a steep downfall this week and recovered a bit in today's trading session. Its major support is now at 1200. One should wait for sometime in the stock as it is expected to consolidate a bit.

Technical Picture

Figure: 3 : Nifty50 Graph

RESISTANCE

SUPPORT

1265

1200

www.capitalvia.com 4

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Bajaj Auto Ltd.


Weekly Pivots
STOCK BAJAJ AUTO R2 R1 PP S1 S2

1570.4 1487.35

1421.8 1338.75

1273.2

Technical Overview
The stock has resisted at higher levels and is now facing correction phase after a continuous up rally and made a low of 1356.25. one should now wait for sometime in the stock as it is expected to consolidate a bit after steep fall.

Technical Picture

Figure: 4 : Nifty50 Graph

RESISTANCE

SUPPORT

1475

1355

www.capitalvia.com 5

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Bharat Heavy Electrical


Weekly Pivots
STOCK R2 R1 PP S1 S2

BHEL

1910.7

1815.4

1757.7

1662.4

1604.7

Technical Overview
The stock continued its bearish trend this week and lost around 6.9% on weekly basis. One could still hold the short positions in the stock as it is expected to continue its bearish trend.

Technical Picture

Figure: 5 : Nifty50 Graph

RESISTANCE

SUPPORT

1830

1695

www.capitalvia.com 6

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Bharat Petroleum Corporation


Weekly Pivots
STOCK R2 R1 PP S1 S2

BPCL

744.87

723.18

687.32

665.63

629.77

Technical Overview
The stock managed to cross its resistance level this week and showed an up rally. it today managed to reach our mentioned levels. Its next major resistance level is at 710, crossing of this level will take the stock further upwards.

Technical Picture

Figure: 6 : Nifty50 Graph

RESISTANCE

SUPPORT

710

675

www.capitalvia.com 7

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Bharti Airtel
Weekly Pivots
STOCK R2 R1 PP S1 S2

BHARTIARTL

463.45

440

424.4

400.95

385.35

Technical Overview
The stock is currently facing a correction phase post its lower than expected quarterly nos. Its next support is at 408, breach of this level may bring some more correction in the stock while it has resistance at 430, crossing of this level may take the stock upward. One has to wait in the stock.

Technical Picture

Figure: 7 : Nifty50 Graph

RESISTANCE

SUPPORT

430

408

www.capitalvia.com 8

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Cipla
Weekly Pivots
STOCK R2 R1 PP S1 S2

CIPLA

325.37

316.33

306.42

297.38

287.47

Technical Overview
The stock had a bearish trend throughout the last week. one should now wait for sometime in the stock as it is expected to consolidate a bit after a continuous fall. Its next support is at 295 while it has resistance at 316, crossing of this level may take the stock upwards in short term.

Technical Picture

Figure: 8 : Nifty50 Graph

RESISTANCE

SUPPORT

316

295

www.capitalvia.com 9

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Cairn India
Weekly Pivots
STOCK R2 R1 PP S1 S2

CAIRN

329.57

307.63

293.82

271.88

258.07

Technical Overview
The stock today had a lower opening and then had a down rally. it has support at 280, breach of this level may take the stock further down

Technical Picture

Figure: 9 : Nifty50 Graph

RESISTANCE

SUPPORT

316

280

www.capitalvia.com 10

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

DLF
Weekly Pivots
STOCK R2 R1 PP S1 S2

DLF

251.9

231.6

217.5

197.2

183.1

Technical Overview
The stock moved in a bearish trend this week. its major support is at 203, breach of this level may take the stock further down else it may also bounce back from lower support levels.

Technical Picture

Figure: 10 : Nifty50 Graph

RESISTANCE

SUPPORT

215

203

www.capitalvia.com 11

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Dr. Reddy Laboratories


Weekly Pivots
STOCK R2 R1 PP S1 S2

DRREDDY

1676.6

1601.7

1539.1

1464.2

1401.6

Technical Overview
The stock moved down during the week and closed on negative note. The major trend presently in the stock is weak. The stock is now facing resistance at 1560 which is the 50 day moving average of the stock and has support at 1470. As the stock closed on negative note a further down movement can be seen in the stock once it breaks its support level.

Technical Picture

Figure: 11 : Nifty50 Graph

RESISTANCE

SUPPORT

1560

1470

www.capitalvia.com 12

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Gail India
Weekly Pivots
STOCK R2 R1 PP S1 S2

GAIL

485.77

471.53

461.77

447.53

437.77

Technical Overview
The stock was consolidating during the week and closed with negative biasness. The major trend presently in the stock is sideways. The stock is now facing resistance at 476 and has support at 451. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level.

Technical Picture

Figure: 12 : Nifty50 Graph

RESISTANCE

SUPPORT

476

451

www.capitalvia.com 13

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

HCL Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2

HCLTECH

522.8

482.9

454.95

415.05

387.1

Technical Overview
The stock showed a continuous down movement during the week and closed on a negative note. The stock is now facing resistance at 460 and has support at 430. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.

Technical Picture

Figure: 13 : Nifty50 Graph

RESISTANCE

SUPPORT

460

430

www.capitalvia.com 14

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

HDFC Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

HDFCBANK

515.13

495.47

476.28

456.62

437.43

Technical Overview
The stock moved down during the week and closed on a negative note. The stock is now facing resistance at 488 which is the 50 day moving average of the stock and has support at 460. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture

Figure: 14 : Nifty50 Graph

RESISTANCE

SUPPORT

488

460

www.capitalvia.com 15

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Housing Development Finance


Weekly Pivots
STOCK R2 R1 PP S1 S2

HDFC

726.38

697.67

678.28

649.57

630.18

Technical Overview
The stock moved down during the week and closed with negative biasness. The stock is now facing resistance at 680 which is the 50 day moving average of the stock and has support at 653. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.

Technical Picture

Figure: 15 : Nifty50 Graph

RESISTANCE

SUPPORT

680

653

www.capitalvia.com 16

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Hero Honda Motors


Weekly Pivots
STOCK R2 R1 PP S1 S2

HEROHONDA

1873.33

1827.67

1784.33

1738.67

1695.33

Technical Overview
The stock was consolidating during the week and closed on a negative note. The stock is now facing resistance at 1830 and has support at 1770. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.

Technical Picture

Figure: 16 : Nifty50 Graph

RESISTANCE

SUPPORT

1830

1770

www.capitalvia.com 17

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Hindalco Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2

HINDALCO

182.45

173.1

162.55

153.2

142.65

Technical Overview
The stock showed a continuous down move during the week and during the last trading session of the week it showed an up move and closed on a positive note. The trend presently in the stock is weak. The stock is now facing resistance at 168 and has support at 157. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
Technical Picture

Figure: 17 : Nifty50 Graph

RESISTANCE

SUPPORT

168

157

www.capitalvia.com 18

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Hindustan Unilever
Weekly Pivots
STOCK R2 R1 PP S1 S2

HINDUNILVR

334

325.5

318.8

310.3

303.6

Technical Overview
The stock moved down during the week and closed with negative biasness. The stock is now facing resistance at 326 and has support at 311. The trend presently in the stock is weak. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture

Figure: 18 : Nifty50 Graph

RESISTANCE

SUPPORT

326

311

www.capitalvia.com 19

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

ICICI Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

ICICIBANK

1104.6

1039.8

994.9

930.1

885.2

Technical Overview
The stock showed a continuous down move during the week and closed with negative biasness. The stock is now facing resistance at 987 and has support at 950. A further down movement is expected in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.

Technical Picture

Figure: 19 : Nifty50 Graph

RESISTANCE

SUPPORT

987

950

www.capitalvia.com 20

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

IDFC
Weekly Pivots
STOCK R2 R1 PP S1 S2

IDFC

137.28

129.77

122.78

115.27

108.28

Technical Overview
IDFC continued its negative side movements this week also and made weekly low of 115.80. The stock now has resistance level at 126 and support level at 115. In short term it is expected to consolidate with positive biasness and remain range bound.

Technical Picture

Figure: 20 : Nifty50 Graph

RESISTANCE

SUPPORT

126

115

www.capitalvia.com 21

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Infosys Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2

INFY

2948.42

2774.23

2649.62

2475.43

2350.82

Technical Overview
INFOSYS remained highly bearish all through last week and made weekly low of 2600.35. The stock now has resistance level at 2700 and support level at 2595. It is expected to consolidate and remain range bound in short term, also breaching of support level may take the stock at lower levels.

Technical Picture

Figure: 21 : Nifty50 Graph

RESISTANCE

SUPPORT

2700

2595

www.capitalvia.com 22

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

ITC
Weekly Pivots
STOCK R2 R1 PP S1 S2

ITC

220.17

208.33

199.42

187.58

178.67

Technical Overview
ITC had volatile trading session in previous week and it closed with the loss of almost 5.73%. The stock may take resistance from the level of 199 and it has support level at 190. In short term it is expected to consolidate and remain range bound.

Technical Picture

Figure: 22 : Nifty50 Graph

RESISTANCE

SUPPORT

199

190

www.capitalvia.com 23

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Jaiprakash Associates
Weekly Pivots
STOCK R2 R1 PP S1 S2

JPASSOCIAT

72.65

66.85

62.8

57

52.95

Technical Overview
JP ASSOCIATES continued negative side movements last week also and made weekly low of 58.75. The stock has resistance level at 62 and support level at 58. In short term it is expected to consolidate with negative biasness in short term, also breaching of support level may take the stock at lower levels.

Technical Picture

Figure: 23 : Nifty50 Graph

RESISTANCE

SUPPORT

62

58

www.capitalvia.com 24

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Jindal Steel & Power


Weekly Pivots
STOCK R2 R1 PP S1 S2

JINDALSTEL

624.63

586.42

552.78

514.57

480.93

Technical Overview
JINDAL STEEL AND POWER moved with negative biasness all through last session and made weekly low of 519.15. The stock has resistance level at 563 and support level at 500. It is expected to consolidate and remain range bound in short term, breaching of support level may take it to lower levels.

Technical Picture

Figure: 24 : Nifty50 Graph

RESISTANCE

SUPPORT

563

500

www.capitalvia.com 25

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Larsen and Toubro


Weekly Pivots
STOCK R2 R1 PP S1 S2

LT

1856.77

1750.33

1660.82

1554.38

1464.87

Technical Overview
L&T continued downside movement last week also and made weekly low of 1571.30. The stock has resistance level at 1685 and support level at 1570. In short term it is expected to consolidate with negative biasness.

Technical Picture

Figure: 25 : Nifty50 Graph

RESISTANCE

SUPPORT

1685

1570

www.capitalvia.com 26

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Kotak Mahindra Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

KOTAKBANK

475.42

456.13

444.32

425.03

413.22

Technical Overview
KOTAK MAHINDRA BANK had sideways movements all through last week and it closed with moderate losses. The stock has support level at 426 and resistance level at 464. It is expected consolidate and remain range bound in short term.

Technical Picture

Figure: 26 : Nifty50 Graph

RESISTANCE

SUPPORT

464

426

www.capitalvia.com 27

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Mahindra and Mahindra


Weekly Pivots
STOCK R2 R1 PP S1 S2

M&M

774.87

716.78

677.52

619.43

580.17

Technical Overview
M&M breached its major support level last week and made weekly low of 638.25. The stock has support level at 635 and resistance level at 670. It is expected to consolidate and remain range bound in short term.

Technical Picture

Figure: 27 : Nifty50 Graph

RESISTANCE

SUPPORT

670

635

www.capitalvia.com 28

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Maruti Suzuki India


Weekly Pivots
STOCK R2 R1 PP S1 S2

MARUTI

1256

1223

1195.9

1162.9

1135.8

Technical Overview
MARUTI remained sideways during last week and closed with moderate losses. The stock has resistance level at 1222 and support level at 1168. In short term it is expected to consolidate and may test its resistance level.

Technical Picture

Figure: 28 : Nifty50 Graph

RESISTANCE

SUPPORT

1222

1168

www.capitalvia.com 29

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

NTPC Ltd.
Weekly Pivots
STOCK R2 R1 PP S1 S2

NTPC

185.68

178.32

174.53

167.17

163.38

Technical Overview
NTPC had volatile trading session last week and made weekly low of 170.75. The stock has support level at 170 and resistance level at 178. In short term it is expected to consolidate with negative biasness. Also breaching of support level may take it to lower levels.

Technical Picture

Figure: 29 : Nifty50 Graph

RESISTANCE

SUPPORT

178

170

www.capitalvia.com 30

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Oil and Natural Gas Corp


Weekly Pivots
STOCK R2 R1 PP S1 S2

ONGC

288.57

283.03

275.02

269.48

261.47

Technical Overview
The stock in today's trading session manages to trade near to the resistance level of 283; from this level further upside of movement would be expected. It is now taking resistance at 283 and support at 267. It is looking strong on charts; one can go for long position in it at 283 for the target of 295.

Technical Picture

Figure: 30 : Nifty50 Graph

RESISTANCE

SUPPORT

283

267

www.capitalvia.com 31

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Power Grid Corporation of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

POWERGRID

112.48

107.72

103.93

99.17

95.38

Technical Overview
The stock was moving in a downward trend, in today's trading session it manages to trade and close below the 10 days and 50 days DMA. It is now taking resistance at 110 and support at 100. It is looking weak on charts; one can go for short position in it at 100 for the target of 95.

Technical Picture

Figure: 31 : Nifty50 Graph

RESISTANCE

SUPPORT

110

100

www.capitalvia.com 32

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Punjab National Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

PNB

1190.5

1132.75

1087.1

1029.35

983.7

Technical Overview
The stock was in short term downtrend, it is now trading at 1075.55 and it made a low of 1041.45. It is showing losing momentum with increase in volume and it is now trading at 1075.55, from this level further downside of movement would be expected. It is now taking support at 1040 below it would might face more selling pressure.

Technical Picture

Figure: 32 : Nifty50 Graph

RESISTANCE

SUPPORT

1113

1040

www.capitalvia.com 33

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Ranbaxy Laboratories
Weekly Pivots
STOCK R2 R1 PP S1 S2

RANBAXY

593.33

557.22

533.88

497.77

474.43

Technical Overview
After making a high of 570 it is continuously moving in a downward trend, in today's trading session it made a low of 510.55. It is looking bearish in the coming trading session if it manages to trade below the support level of 504 else above 570 it would be in an upward trend.

Technical Picture

Figure: 33 : Nifty50 Graph

RESISTANCE

SUPPORT

570

504

www.capitalvia.com 34

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Reliance Capital
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELCAPITAL

626.38

559.97

519.48

453.07

412.58

Technical Overview
The stock closed negative and it is showing losing momentum with trading below its 10 days and 50 days moving averages and it is now trading at 493.35. It is looking bearish in the coming trading session; one can go short position in it at 568 for the target of 535.

Technical Picture

Figure: 34 : Nifty50 Graph

RESISTANCE

SUPPORT

505

568

www.capitalvia.com 35

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Reliance Communications
Weekly Pivots
STOCK R2 R1 PP S1 S2

RCOM

109.28

101.02

95.63

87.37

81.98

Technical Overview
A gap down opening made it to trade below the 10 days and 50 days moving averages and it is now trading at 91.85. It is now taking support at 89 and resistance at 97. In order to be in an upward trend it has to trade and consolidate above the 10 days and 50 days moving averages, below support level of 89 it would be bearish in trend.

Technical Picture

Figure: 35 : Nifty50 Graph

RESISTANCE

SUPPORT

97

89

www.capitalvia.com 36

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Reliance Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELIANCE

863.2

827.6

803.3

767.7

743.4

Technical Overview
After consolidating in a range of 820-840, the stock has resumed it downtrend and it is now trading at 792, from this level further downside of movement would be expected. It is looking weak on chart; one can go for short position in it at 779 for the target of 750.

Technical Picture

Figure: 36 : Nifty50 Graph

RESISTANCE

SUPPORT

840

779

www.capitalvia.com 37

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Reliance Infrastructure
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELINFRA

599.07

561.58

541.32

503.83

483.57

Technical Overview
After consolidating around the 530-570 range. The stock has resumed it downtrend and it is now trading at 523.90, from this level further downside of movement would be expected. One can go for short position in it at 515 for the target of 510.

Technical Picture

Figure: 37 : Nifty50 Graph

RESISTANCE

SUPPORT

580

515

www.capitalvia.com 38

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Reliance Power
Weekly Pivots
STOCK R2 R1 PP S1 S2

RPOWER

119.02

111.13

106.07

98.18

93.12

Technical Overview
The stock is moving short term uptrend and in today's trading session it battered down to the level of 101, from this level further downside of movement would be expected and it is now trading at 103.35. One can go for short position in it at 101 for the target of 95.

Technical Picture

Figure: 38 : Nifty50 Graph

RESISTANCE

SUPPORT

106

101

www.capitalvia.com 39

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Siemens India
Weekly Pivots
STOCK R2 R1 PP S1 S2

SIEMENS

955.67

927.33

901.17

872.83

846.67

Technical Overview
The stock had a correction phase this week. it managed to breach its support level and made a low of 875. Its major support is at 874.50 now, breach of this level will take the stock further downwards till the levels of 850-845 in coming trading sessions.

Technical Picture

Figure: 39 : Nifty50 Graph

RESISTANCE

SUPPORT

922

874.50

www.capitalvia.com 40

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Sterlite Industries India


Weekly Pivots
STOCK R2 R1 PP S1 S2

STER

172.42

157.23

147.37

132.18

122.32

Technical Overview
STERLITE INDUSTRIES showed negative side movements all through last week, it made weekly low of 137.50 and closed with the loss of 11.45%. It is expected to consolidate with negative biasness and may test its support level in short term.

Technical Picture

Figure: 40 : Nifty50 Graph

RESISTANCE

SUPPORT

150

133

www.capitalvia.com 41

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

State Bank of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

SBIN

2469.5

2353.5

2267

2151

2064.5

Technical Overview
The stock is continued to move in bearish trend this week as well. It now hold support at 2173, breach of this level may take the stock further downwards else it may also bounce back from lower support levels.

Technical Picture

Figure: 41 : Nifty50 Graph

RESISTANCE

SUPPORT

2254

2173

www.capitalvia.com 42

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Steel Authority of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

SAIL

135.13

125.47

117.78

108.12

100.43

Technical Overview
The stock continued to move in bearish trend this week as well and has lost up to 9.25% this week. one should now wait for sometime in the stock as it is expected to consolidate a bit after a continuous downtrend.

Technical Picture

Figure: 43 : Nifty50 Graph

RESISTANCE

SUPPORT

122.50

110

www.capitalvia.com 44

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Sun Pharmaceuticals
Weekly Pivots
STOCK R2 R1 PP S1 S2

SUNPHARMA

551.93

525.97

505.53

479.57

459.13

Technical Overview
The stock remained bearish all through last week and made weekly low of 485.10. It now has resistance level at 518 and support level at 483. It is expected to show further correction in near term and below support level it is looking weak.

Technical Picture

Figure: 44 : Nifty50 Graph

RESISTANCE

SUPPORT

518

483

www.capitalvia.com 45

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Grasim
Weekly Pivots
STOCK R2 R1 PP S1 S2

GRASIM

2291.1

2202.2

2146.1

2057.2

2001.1

Technical Overview
The stock was consolidating during the earlier trading days of the week and moved down during the last trading day and closed with negative biasness. The stock is now facing resistance at 2172 which is the 50 day moving average of the stock and has support at 2080. As the stock closed with negative biasness a further down move can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture

Figure: 45 : Nifty50 Graph

RESISTANCE

SUPPORT

2172

2080

www.capitalvia.com 46

WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Tata Consultancy Services


Weekly Pivots
STOCK R2 R1 PP S1 S2

TCS

1200.83

1129.87

1078.93

1007.97

957.03

Technical Overview
The stock showed bearish phase during last week and made weekly low of 1028. It has resistance level at 1100 and support level at 1028. The major trend in the stock is bearish. It is expected to consolidate and remain range bound in short term and breaching of support level may take it to lower levels.

Technical Picture

Figure: 46 : Nifty50 Graph

RESISTANCE

SUPPORT

1100

1028

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Tata Motors
Weekly Pivots
STOCK R2 R1 PP S1 S2

TATAMOTORS

1006

948.1

909.05

851.15

812.1

Technical Overview
The stock showed a down movement during the week and closed on negative note. The major trend in the stock is bearish. It now has resistance level at 912 and support level at 870.One may hold short position in it till it crosses its resistance level upside.

Technical Picture

Figure: 47 : Nifty50 Graph

RESISTANCE

SUPPORT

912

870

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Tata Steel
Weekly Pivots
STOCK R2 R1 PP S1 S2

TATASTEEL

594.1

563.3

545.15

514.35

496.2

Technical Overview
The stock moved down during the week and closed on a negative note and marked a low of 527. It now has next support level at 520 and resistance level at 554. One may hold short position in it till it crosses its resistance level upside.

Technical Picture

Figure: 48 : Nifty50 Graph

RESISTANCE

SUPPORT

554

520

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Tata Power Supply


Weekly Pivots
STOCK R2 R1 PP S1 S2

TATAPOWER

1337.92

1283.43

1255.22

1200.73

1172.52

Technical Overview
TATA POWER SUPPLY remains positive all through last week and made a weekly high of 1324. The major trend in the stock is bullish. In short term correction can be expected. It now has next resistance level at 1326 and support level at 1275. One may go for the long position above its resistance level.

Technical Picture

Figure: 49 : Nifty50 Graph

RESISTANCE

SUPPORT

1326

1275

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Sesa Goa
Weekly Pivots
STOCK R2 R1 PP S1 S2

SESAGOA

295

271.3

256.3

232.6

217.6

Technical Overview
The stock has manages to closed near to the resistance level of 287 from this level further upside of movement would be expected. The closed positive from this level further upside of movement would be expected. One can go for long position in it at 287 for the target of 300.

Technical Picture

Figure: 50 : Nifty50 Graph

RESISTANCE

SUPPORT

287

265

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

Wipro Corporation
Weekly Pivots
STOCK R2 R1 PP S1 S2

WIPRO

413.45

391.55

375.3

353.4

337.15

Technical Overview
The stock had a downward trend this week. its next major support is at 353, breach of this level may take it further down else it may also bounce from lower support levels .

Technical Picture

Figure: 51 : Nifty50 Graph

RESISTANCE

SUPPORT

385

353

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WEEKLY REPORT
08th August - 12th August 2011

Global Research Limited

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