Technical Research | August 12, 2011

Daily Technical Report

Sensex (17059) / NIFTY (5138)
Our benchmark indices opened on a flat note in-spite of weak closing of European and U.S. markets. We witnessed a range bound movement throughout the trading session which led indices to close near its opening level. On the sector front, Banking, Teck and Realty were among the major losers. The advance decline ratio was in favor of declining counters (A=1336 D=1481).
(Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
The Daily chart exhibits a candlestick pattern which resembles a Doji. This pattern indicates
Source: Falcon

indecisiveness and requires a confirmation. The Gap area formed on the daily chart in the range of 17665 17358 / 5323 5230 would act as the next key resistance levels for the Indices.

Trading strategy:
Markets opened with a neutral bias and traded in a narrow range of 17208 to 17012 / 5185 to 5121. On the Daily chart, we are observing a candlestick pattern which resembles a Doji. Looking at the global indices, it is likely that our Benchmark indices may open on a positive note. If indices manage to trade convincingly above 17208/ 5185 level then they may test 17350 / 5230 level. The above mentioned pattern will have its bearish implication only if indices trade below yesterdays low of 17012 / 5121 level. The activation of this pattern can attract some selling pressure which can drag indices to the lower levels 16900 16640 / 5100 5010.

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Technical Research | August 12, 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 16,899 5,084 984 125 1,177 1,429 388 1,715 681 267 285 201 1,457 430 400 649 470 1,834 151 313 921 120 2,387 194 499 61 443 1,616 702 1,214 171 273 1,084 101 481 84 438 754 454 88 109 2,215 233 853 133 468 41 797 1,083 475 955 343 S1 16,979 5,111 995 128 1,194 1,443 392 1,737 686 272 289 204 1,470 435 406 666 475 1,846 154 314 932 122 2,414 196 505 63 457 1,628 716 1,231 174 275 1,098 102 486 85 448 763 469 90 110 2,230 236 871 134 475 41 823 1,104 480 966 348 PIVOT 17,093 5,148 1,010 129 1,223 1,464 400 1,764 691 275 296 206 1,492 439 415 677 480 1,866 156 316 951 124 2,442 198 515 64 467 1,644 727 1,256 177 278 1,116 103 491 87 456 774 480 91 112 2,257 241 885 136 483 42 843 1,139 485 975 352 R1 17,174 5,175 1,021 132 1,240 1,478 404 1,786 695 280 301 209 1,505 444 422 695 485 1,879 159 317 962 125 2,468 201 521 66 481 1,656 741 1,273 180 280 1,130 104 496 88 466 783 495 93 113 2,273 244 902 138 490 43 869 1,160 490 987 357 R2 17,288 5,212 1,036 134 1,269 1,498 412 1,814 701 283 308 211 1,526 447 431 706 490 1,898 162 319 981 128 2,496 203 531 67 491 1,672 753 1,299 183 282 1,148 105 502 89 474 794 506 94 114 2,299 248 917 140 497 44 889 1,195 495 995 362

Technical Research Team

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Technical Research | August 12, 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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