Technical Research | September 02, 2011

Daily Technical Report

Sensex (16677) / Nifty (5001)
Markets opened with an upside gap in-line with global cues and closed at 5000 mark as positive sentiments followed up after an enormous bounce on Mondays session. On the sector front, Metal, Realty and Banking counters were among the major gainers. The advance decline ratio was in favor of advancing counters (A=1841 D=976). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
We are observing a positive crossover of 3 & 8 EMA on the Daily chart.

Trading strategy:
We witnessed a positive closing for the second consecutive session. The session traded with extreme volatility as neither bulls nor bears were willing to carry overnight position due to gap of two days before the next trading session. On the Daily chart, we are witnessing a positive crossover of 3 & 8 EMA coupled with positive placement of the RSI Smoothened oscillator indicates a possibility of a further upside move if indices trade above Mondays high of 16715 / 5016. In this case, they are likely to test 16750 17000 / 5050 -5110 levels. The 20 EMA is placed at 16750 / 5050 which may act as resistance in coming trading session. On the downside, 16443 / 4927 level may act as a support.
Source: Falcon

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Technical Research | September 02, 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 16,340 4,893 982 130 1,044 1,529 392 1,733 659 263 275 184 1,432 400 378 643 452 1,948 139 318 847 109 2,248 196 485 57 429 1,534 728 1,049 166 251 897 98 441 77 359 749 422 82 102 1,899 205 850 123 456 35 718 1,008 448 1,013 320 S1 16,509 4,947 993 132 1,058 1,551 398 1,751 667 271 278 190 1,464 405 394 653 462 2,000 145 319 860 112 2,295 198 503 59 436 1,571 733 1,070 168 257 913 99 456 78 372 766 429 83 105 1,936 219 868 126 474 36 730 1,027 458 1,028 328 PIVOT 16,612 4,982 1,004 134 1,069 1,571 407 1,769 676 276 280 194 1,483 412 405 660 469 2,034 148 320 873 114 2,328 201 514 61 442 1,609 739 1,085 169 266 926 100 468 80 384 781 438 84 107 1,960 228 881 128 485 37 739 1,046 465 1,039 333 R1 16,780 5,036 1,014 135 1,084 1,593 414 1,786 684 284 283 201 1,515 418 421 670 478 2,086 154 322 887 116 2,375 203 533 63 449 1,647 744 1,106 171 272 943 101 484 81 397 798 445 86 110 1,998 243 899 131 503 37 752 1,065 476 1,054 341 R2 16,883 5,070 1,025 137 1,094 1,612 423 1,804 693 289 285 205 1,534 425 432 677 485 2,120 157 323 900 118 2,408 206 544 64 456 1,685 749 1,120 172 281 956 102 495 83 409 813 454 87 113 2,021 252 912 134 514 38 761 1,085 483 1,065 346

Technical Research Team

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Technical Research | September 02, 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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