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Global Research Limited

NIFTY50

WEEKLY REPORT
15th August - 19th August 2011

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

ACC
Weekly Pivots
STOCK R2 R1 PP S1 S2

ACC

1075.47

1037.53

986.87

948.93

898.27

Technical Overview
The stock has tried to take support at lower levels and had an up rally in last week. Its next resistance is at 1021, crossing of this level will take the stock further upwards in near term. It is expected to consolidate with positive biasness and may test its resistance level in coming trading sessions.

Technical Picture

Figure: 1 : Nifty50 Graph

RESISTANCE

SUPPORT

1021

950

www.capitalvia.com 3

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Ambuja Cements
Weekly Pivots
STOCK R2 R1 PP S1 S2

AMBUJACEM

140.27

135.73

127.92

123.38

115.57

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

135

120

www.capitalvia.com 3

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Axis Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

AXISBANK

1303.55

1256.4

1218.65

1171.5

1133.75

Technical Overview
The stock has resisted at higher levels and had a steep downfall last week and consolidated throughout this week. Its major support is now at 1200 while resistance at 1265. 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
15th August - 19th August 2011

Global Research Limited

Bajaj Auto Ltd.


Weekly Pivots
STOCK R2 R1 PP S1 S2

BAJAJ-AUTO

1572.38

1513.47

1434.73

1375.82

1297.08

Technical Overview
The stock is currently facing an either side movement its next major resistance level is at 1505 . it is expected to consolidate with positive biasness and may test its resistance level in coming trading sessions.

Technical Picture

Figure: 4 : Nifty50 Graph

RESISTANCE

SUPPORT

1505

1415

www.capitalvia.com 5

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Bharat Heavy Electrical


Weekly Pivots
STOCK R2 R1 PP S1 S2

BHEL

1860.35

1791.05

1725.7

1656.4

1591.05

Technical Overview
The stock is consolidating currently after a continuous bearish trend. One should now wait for sometime in the stock.

Technical Picture

Figure: 5 : Nifty50 Graph

RESISTANCE

SUPPORT

1806

1725

www.capitalvia.com 6

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Bharat Petroleum Corporation


Weekly Pivots
STOCK R2 R1 PP S1 S2

BPCL

729.58

710.22

695.08

675.72

660.58

Technical Overview
The stock managed to cross its resistance level last week and showed an up rally previously. It is now trying to take resistance at higher levels and is facing correction phase. Its next support is at 680, breach of this level may take the stock further downwards.

Technical Picture

Figure: 6 : Nifty50 Graph

RESISTANCE

SUPPORT

715

680

www.capitalvia.com 7

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Bharti Airtel
Weekly Pivots
STOCK R2 R1 PP S1 S2

BHARTIARTL

426.17

407.63

396.32

377.78

366.47

Technical Overview
The stock is currently facing a correction phase post its lower than expected quarterly nos. Its next support is at 395, breach of this level may bring some more correction in the stock while it has resistance at 407. One could go for sell on rise strategy in the stock.

Technical Picture

Figure: 7 : Nifty50 Graph

RESISTANCE

SUPPORT

407

385

www.capitalvia.com 8

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Cipla
Weekly Pivots
STOCK R2 R1 PP S1 S2

CIPLA

316.6

304.8

297.4

285.6

278.2

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 290 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

309

290

www.capitalvia.com 9

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Cairn India
Weekly Pivots
STOCK R2 R1 PP S1 S2

CAIRN

295.73

287.47

275.73

267.47

255.73

Technical Overview
The stock is moving in a range currently. it has support at 264, breach of this level may take the stock further down while it has resistance at 284, crossing of this level will take it upwards. One should now wait for sometime in the stock as it is expected to consolidate and may recover a bit in short term.

Technical Picture

Figure: 9 : Nifty50 Graph

RESISTANCE

SUPPORT

295

264

www.capitalvia.com 10

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

DLF
Weekly Pivots
STOCK R2 R1 PP S1 S2

DLF

225.8

213

199

186.2

172.2

Technical Overview
The stock is currently moving in bearish trend. One should now wait for sometime in the stock as it is expected to consolidate a bit after a continuous downfall. Its next major support is at 194 while has resistance at 214.

Technical Picture

Figure: 10 : Nifty50 Graph

RESISTANCE

SUPPORT

214

194

www.capitalvia.com 11

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Dr. Reddy Laboratories


Weekly Pivots
STOCK R2 R1 PP S1 S2

DRREDDY

1619.8

1552.85

1502.95

1436

1386.1

Technical Overview
The stock was consolidating during the week and closed on a positive note. The major trend presently in the stock is sideways. The stock is now facing resistance at 1525 and has support at 1455. As the stock closed on positive note a further up movement can be seen in the stock once it breaks its resistance level.

Technical Picture

Figure: 11 : Nifty50 Graph

RESISTANCE

SUPPORT

1525

1455

www.capitalvia.com 12

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Gail India
Weekly Pivots
STOCK R2 R1 PP S1 S2

GAIL

488.78

468.77

450.38

430.37

411.98

Technical Overview
The stock moved down during the earlier trading days of the week and then moved up during the later trading session of the week and closed on positive note. The major trend presently in the stock is sideways. The stock is now facing resistance at 455 and has support at 430. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance level.
Technical Picture

Figure: 12 : Nifty50 Graph

RESISTANCE

SUPPORT

455

430

www.capitalvia.com 13

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

HCL Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2

HCLTECH

452.12

429.93

414.47

392.28

376.82

Technical Overview
The stock was consolidating during the week and closed on negative note. The stock is now facing resistance at 420 and has support at 399. 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

420

399

www.capitalvia.com 14

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

HDFC Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

HDFCBANK

515.85

491.95

470.9

447

425.95

Technical Overview
The stock showed an up move during the earlier trading days of week and then moved down during the later trading days of the week and thus remained range bound. The trend presently in the stock is weak. The stock is now facing resistance at 487 which is the 50 day moving average of the stock and has support at 458. 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

487

458

www.capitalvia.com 15

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Housing Development Finance


Weekly Pivots
STOCK R2 R1 PP S1 S2

HDFC

725.32

697.03

660.62

632.33

595.92

Technical Overview
The stock showed an up move during the earlier trading days of the week but closed on negative note. The stock is now facing resistance at 697 and has support at 660. 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

697

660

www.capitalvia.com 16

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Hero Honda Motors


Weekly Pivots
STOCK R2 R1 PP S1 S2

HEROMOTOCO

2035.42

1962.83

1841.42

1768.83

1647.42

Technical Overview
The stock showed a continuous up move during the week and closed on positive note. The stock is now facing resistance at 1925 and has support at 1860. As the stock closed on positive note a further up movement can be seen in the stock once it breaks its resistance. One may go for buying the stock once it breaks its resistance level.

Technical Picture

Figure: 16 : Nifty50 Graph

RESISTANCE

SUPPORT

1925

1860

www.capitalvia.com 17

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Hindalco Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2

HINDALCO

166.83

158.52

150.93

142.62

135.03

Technical Overview
The stock showed a down move during the week and closed on negative note. The trend presently in the stock is weak. The stock is now facing resistance at 160 and has support at 146. 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: 17 : Nifty50 Graph

RESISTANCE

SUPPORT

160

146

www.capitalvia.com 18

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Hindustan Unilever
Weekly Pivots
STOCK R2 R1 PP S1 S2

HINDUNILVR

329.72

322.38

315.47

308.13

301.22

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

323

309

www.capitalvia.com 19

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

ICICI Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2

ICICIBANK

1006.35

973.15

941.8

908.6

877.25

Technical Overview
The stock was consolidating during the week and closed on a negative note. The stock is now facing resistance at 955 and has support at 928. 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

955

928

www.capitalvia.com 20

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

IDFC
Weekly Pivots
STOCK R2 R1 PP S1 S2

IDFC

129.57

124.53

121.27

116.23

112.97

Technical Overview
IDFC is consolidating currently. The stock has now resistance level at 127 and support level at 118. In short term it is expected to consolidate and remain range bound and may consolidate with positive biasness.

Technical Picture

Figure: 20 : Nifty50 Graph

RESISTANCE

SUPPORT

127

118

www.capitalvia.com 21

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Infosys Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2

INFY

2563.5

2469.35

2405.85

2311.7

2248.2

Technical Overview
The stock is currently having sideways trend. The stock managed to breach its support level and had a downfall as expected. Its major support is at 2350, breach of this will continue its bearish trend else it may also bounce from lower support levels.

Technical Picture

Figure: 21 : Nifty50 Graph

RESISTANCE

SUPPORT

2500

2350

www.capitalvia.com 22

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

ITC
Weekly Pivots
STOCK R2 R1 PP S1 S2

ITC

210.03

204.02

196.83

190.82

183.63

Technical Overview
The stock is facing either side movement currently. The stock may face resistance from the level of 206 and it has support level at 194. In short term is expected to consolidate and remain range bound. Crossing of resistance level may take the stock at higher levels.

Technical Picture

Figure: 22 : Nifty50 Graph

RESISTANCE

SUPPORT

206

194

www.capitalvia.com 23

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Jaiprakash Associates
Weekly Pivots
STOCK R2 R1 PP S1 S2

JPASSOCIAT

69.97

65.98

61.52

57.53

53.07

Technical Overview
JPASSOCIATS is currently facing an either side movement. The stock has resistance level at 66.25 and may face support from the level of 59. In short term it is expected to remain volatile.

Technical Picture

Figure: 23 : Nifty50 Graph

RESISTANCE

SUPPORT

66.25

59

www.capitalvia.com 24

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Jindal Steel & Power


Weekly Pivots
STOCK R2 R1 PP S1 S2

JINDALST EL

557.93

541.32

520.88

504.27

483.83

Technical Overview
The stock traded lower during the week but managed to close on a positive note. The stock has now resistance level at 538 which is the 10 day moving average of the stock and has support at 508. It is expected to remain range bound in short term, breaching of resistance level may take it to higher levels.

Technical Picture

Figure: 24 : Nifty50 Graph

RESISTANCE

SUPPORT

538

508

www.capitalvia.com 25

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Larsen and Toubro


Weekly Pivots
STOCK R2 R1 PP S1 S2

LT

1736.75

1691.8

1629.15

1584.2

1521.55

Technical Overview
The stock was consolidating during the week and was trading with positive biasness and closed on positive note. The stock now has resistance level at 1675 and support level at 1620. In short term it is expected to consolidate and remain range bound, crossing of resistance level may take the stock at higher levels.

Technical Picture

Figure: 25 : Nifty50 Graph

RESISTANCE

SUPPORT

1675

1620

www.capitalvia.com 26

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Kotak Mahindra Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

KOTAKBANK

508

483.25

453.25

428.5

398.5

Technical Overview
The stock showed a continuous up move during the week but was not able to sustain at level of 480 and moved down and closed on negative note. The stock has support level at 450 and resistance level at 480. Break of support may take the stock further down. One may go for selling the stock once it breaks its support.

Technical Picture

Figure: 26 : Nifty50 Graph

RESISTANCE

SUPPORT

480

450

www.capitalvia.com 27

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Mahindra and Mahindra


Weekly Pivots
STOCK R2 R1 PP S1 S2

M&M

815.45

777.7

705.15

667.4

594.85

Technical Overview
MAHINDRA AND MAHINDRA remains positive all through last week and made a weekly high of 742.90.. It now has support level at 730 and resistance level at 745. It is expected to remain bullish in upcoming session and may test its resistance level again.

Technical Picture

Figure: 27 : Nifty50 Graph

RESISTANCE

SUPPORT

745

730

www.capitalvia.com 28

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Maruti Suzuki India


Weekly Pivots
STOCK R2 R1 PP S1 S2

MARUTI

1351.25

1298.8

1230.95

1178.5

1110.65

Technical Overview
MARUTI SUZUKI remains positive all through last week and made a weekly high of 1283.40.It has next resistance level at 1269 and support level at 1237. In short term it is expected to remains bullish and shows some more correction.

Technical Picture

Figure: 28 : Nifty50 Graph

RESISTANCE

SUPPORT

1269

1237

www.capitalvia.com 29

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

NTPC Ltd.
Weekly Pivots
STOCK R2 R1 PP S1 S2

NTPC

187.77

181.73

173.37

167.33

158.97

Technical Overview
NTPC consolidates with positive biasness all through last week and made a weekly high of 179.40. It has next support level at 173 and resistance level at 180. In short term it is expected to consolidate with positive biasness.

Technical Picture

Figure: 29 : Nifty50 Graph

RESISTANCE

SUPPORT

180

173

www.capitalvia.com 30

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Oil and Natural Gas Corp


Weekly Pivots
STOCK R2 R1 PP S1 S2

ONG C

300.53

289.87

279.48

268.82

258.43

Technical Overview
The stock has managed to trade above 10 days and 50 days moving averages, it is now trading at 279.20. It is now taking resistance at 291 and support at 267. It is looking strong on charts; one can go for long position in it at 291 for the target of 300.

Technical Picture

Figure: 30 : Nifty50 Graph

RESISTANCE

SUPPORT

291

267

www.capitalvia.com 31

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Power Grid Corporation of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

POWERGRID

108.4

106

102.2

99.8

96

Technical Overview
The stock bounced from the support level of 98 and it is now taking resistance at 105; from this level further upside of movement would be expected. In order to be in an upward trend it has to trade and consolidate above the resistance level of 105 else below 98 it would might face more selling pressure.

Technical Picture

Figure: 31 : Nifty50 Graph

RESISTANCE

SUPPORT

105

98

www.capitalvia.com 32

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Punjab National Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

PNB

1180.93

1133.12

1086.68

1038.87

992.43

Technical Overview
The stock managed to give closing above its 10 days and 50 days DMA. In order to be in an upward trend it has to trade and close above its moving averages. It is looking bearish in the coming trading session if it manages to trade below the support level of 1060 else above 1135 it would be in an upward trend.

Technical Picture

Figure: 32 : Nifty50 Graph

RESISTANCE

SUPPORT

1135

1060

www.capitalvia.com 33

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Ranbaxy Laboratories
Weekly Pivots
STOCK R2 R1 PP S1 S2

RANBAXY

544.07

513.63

497.52

467.08

450.97

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 481.40. It is looking bearish in the coming trading session if it manages to trade below the support level of 480 else above 511 it would be in an upward trend.

Technical Picture

Figure: 33 : Nifty50 Graph

RESISTANCE

SUPPORT

511

480

www.capitalvia.com 34

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Reliance Capital
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELCAPITAL

504.47

470.93

450.47

416.93

396.47

Technical Overview
After moving in a long term down trend the stock is consolidating in a range of 430-470 and it is now trading at 437.40. It is looking bearish in the coming trading session if it manages to trade below the support level of 430 else above 470 it would be bearish in trend.

Technical Picture

Figure: 34 : Nifty50 Graph

RESISTANCE

SUPPORT

467

440

www.capitalvia.com 35

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Reliance Communications
Weekly Pivots
STOCK R2 R1 PP S1 S2

RCOM

93.35

88.85

85.85

81.35

78.35

Technical Overview
The stock manages to trade near to the support level of 82 and it is now trading at 84.35. It is now taking support at 82 and resistance at 91. 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 82 it would be bearish in trend.

Technical Picture

Figure: 35 : Nifty50 Graph

RESISTANCE

SUPPORT

91

82

www.capitalvia.com 36

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Reliance Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELIANCE

813.5

787.2

770.1

743.8

726.7

Technical Overview
After consolidating in a range of 750-790, the stock has resumed it downtrend with trading near to the support level of 753 and it is now trading at 760.90, 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 753 for the target of 735.

Technical Picture

Figure: 36 : Nifty50 Graph

RESISTANCE

SUPPORT

800

753

www.capitalvia.com 37

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Reliance Infrastructure
Weekly Pivots
STOCK R2 R1 PP S1 S2

RELINFRA

548.35

515.8

484.45

451.9

420.55

Technical Overview
The stock has battered down to the level of 453.10, it is now trading at 483.25 and from this level further upside of movement would be expected. One can go for long position in it at 495 for the target of 510.

Technical Picture

Figure: 37 : Nifty50 Graph

RESISTANCE

SUPPORT

495

450

www.capitalvia.com 38

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Reliance Power
Weekly Pivots
STOCK R2 R1 PP S1 S2

RPOWER

105.17

98.18

93.72

86.73

82.27

Technical Overview
The stock is moving sideways and in today's trading session it closed positive, it now trading at 91.20, from this level further upside of movement would be expected. One can go for long position in it at 94 for the target of 100.

Technical Picture

Figure: 38 : Nifty50 Graph

RESISTANCE

SUPPORT

94

89

www.capitalvia.com 39

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Siemens India
Weekly Pivots
STOCK R2 R1 PP S1 S2

SIEMENS

922.02

896.03

873.02

847.03

824.02

Technical Overview
SEIMENS INDIA remains volatile all through last week and closed almost flat. In upcoming session some more bullish trend can be expected. It now has next resistance level at 900 and support level at 884. One may hold long position in it till it crosses its support level downsides.

Technical Picture

Figure: 39 : Nifty50 Graph

RESISTANCE

SUPPORT

900

884

www.capitalvia.com 40

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Sterlite Industries India


Weekly Pivots
STOCK R2 R1 PP S1 S2

STER

147.42

140.43

135.02

128.03

122.62

Technical Overview
STERLITE INDUSTRIES consolidates in a tight range all through last week. The major trend in the stock is bearish. In upcoming session some correction can be expected. It has next resistance level at 142 and support level at 129.

Technical Picture

Figure: 40 : Nifty50 Graph

RESISTANCE

SUPPORT

142

129

www.capitalvia.com 41

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

State Bank of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

SBIN

2351

2274

2212

2135

2073

Technical Overview
STATE BANK OF INDIA shown volatile movement in last week trading sessions. The major trend in the stock is bearish. In upcoming session some correction can be expected. It now has next resistance level at 2210 and support level at 2150. One may hold short position in it till it crosses its resistance level upsides.

Technical Picture

Figure: 41 : Nifty50 Graph

RESISTANCE

SUPPORT

2210

2150

www.capitalvia.com 42

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Steel Authority of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

SAIL

120.62

115.53

109.27

104.18

97.92

Technical Overview
STEEL AUTHORITY OF INDIA consolidates with positive biasness all through last week and made a high of 114.35. In upcoming session some more correction can be expected. It has next support level at 108 and resistance level at 115. One may go for the long position above its resistance level.

Technical Picture

Figure: 43 : Nifty50 Graph

RESISTANCE

SUPPORT

115

108

www.capitalvia.com 44

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Sun Pharmaceuticals
Weekly Pivots
STOCK R2 R1 PP S1 S2

SUNPHARMA

514.42

495.23

484.62

465.43

454.82

Technical Overview
SUN PHARMACEUTICALS consolidates with negative biasness in last week and made a weekly low of 474.In upcoming session some more correction can be expected. It now has next resistance level at 492 and support level at 474. One may hold short position in it till it crosses its resistance level upsides.

Technical Picture

Figure: 44 : Nifty50 Graph

RESISTANCE

SUPPORT

492

474

www.capitalvia.com 45

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Grasim
Weekly Pivots
STOCK R2 R1 PP S1 S2

GRASIM

2276.33

2188.27

2101.63

2013.57

1926.93

Technical Overview
The stock was trading sideways during the week and closed on positive note. The stock is now facing resistance at 2190 and has support at 2050. As the stock closed with positive biasness a further up move can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.

Technical Picture

Figure: 45 : Nifty50 Graph

RESISTANCE

SUPPORT

2190

2050

www.capitalvia.com 46

WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Tata Consultancy Services


Weekly Pivots
STOCK R2 R1 PP S1 S2

TCS

1068.52

1007.83

972.67

911.98

876.82

Technical Overview
TATA CONSULTANCY SERVICES remains negative all through last week and made a weekly low of 937.50. In upcoming session some more bearish trend can be expected. It now has next resistance level at 955 and support level at 937.

Technical Picture

Figure: 46 : Nifty50 Graph

RESISTANCE

SUPPORT

984

937

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Tata Motors
Weekly Pivots
STOCK R2 R1 PP S1 S2

TATAMOTORS

906.63

853.32

818.68

765.37

730.73

Technical Overview
TATA MOTORS consolidates with negative biasness all through last week and made a weekly low of 784. It now has resistance level at 812 and support level at 784.One may go for the sell on rise strategy till it crosses its resistance level upsides.

Technical Picture

Figure: 47 : Nifty50 Graph

RESISTANCE

SUPPORT

812

784

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Tata Steel
Weekly Pivots
STOCK R2 R1 PP S1 S2

TATASTEEL

537.52

506.23

488.62

457.33

439.72

Technical Overview
TATA STEEL remains negative all through last week and made a weekly low of 471. In upcoming session some more bearish trend can be expected. It now has next support level at 471 and resistance level at 484. One may hold short position in it till it crosses its resistance level upside.

Technical Picture

Figure: 48 : Nifty50 Graph

RESISTANCE

SUPPORT

484

471

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Tata Power Supply


Weekly Pivots
STOCK R2 R1 PP S1 S2

TATAPOWER

1287.17

1186.33

1131.17

1030.33

975.17

Technical Overview
TATA POWER SUPPLY remains negative all through last week and made a weekly low of 1076. The stock was down by more than 12% last week. In upcoming session some correction can be expected. It now has next resistance level at 1141 and support level at 1076.

Technical Picture

Figure: 49 : Nifty50 Graph

RESISTANCE

SUPPORT

1141

1076

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Sesa Goa
Weekly Pivots
STOCK R2 R1 PP S1 S2

SESAGOA

260.43

250.47

239.28

229.32

218.13

Technical Overview
After making a low of 228.10 it is continuously moving sideways and it is now trading at 240.50, form this level either side of movement would be expected. It is now taking support at 228 below this level it would be bearish in trend else above 250 it would be bullish.

Technical Picture

Figure: 50 : Nifty50 Graph

RESISTANCE

SUPPORT

250

235

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

Wipro Corporation
Weekly Pivots
STOCK R2 R1 PP S1 S2

WIPRO

370.18

356.57

346.78

333.17

323.38

Technical Overview
WIPRO remains volatile all through last week and closed near to its support level. In upcoming session bearish trend can be expected. It now has support level at 346 and resistance level at 337. One may go for the short position below its support level.

Technical Picture

Figure: 51 : Nifty50 Graph

RESISTANCE

SUPPORT

346

337

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WEEKLY REPORT
15th August - 19th August 2011

Global Research Limited

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