Technical Research | October 05, 2011

Daily Technical Report

Sensex (15865) / Nifty (4772)
Markets opened marginal lower and moved towards the mentioned gap area during the first half. We observed immense selling pressure near this resistance zone which dragged indices to test 15756 / 4720 level. On the sector front, Banking, Auto and PSU counters were among the major losers whereas Capital Goods sector ended with a marginal gain. The advance decline ratio was strongly in favor of declining counters (A=985 D=1762). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No specific formation is seen on the chart.

Trading strategy:
Yesterday during the second half, strong selling pressure was observed near the mentioned resistance zone of 16404 to 16256 / 4924 to 4879. This dragged indices sharply towards the recent bottom of 15756 / 4720. However, indices managed to bounce from this support level in yesterdays session and closed below 16000 / 4800 mark. Going forward, we reiterate that 15756 / 4720 level is likely to act as crucial support level. Any sustainable move below this level would result in a further fall and can take indices to test lower levels of 15650 15330 / 4675 4540 levels. On the upside, the gap area of 16404 to 16256 / 4924 to 4879 is likely to act as a strong resistance in coming trading sessions. .
Source: Falcon

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Technical Research | October 05, 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 15,481 4,649 1,078 145 924 1,445 355 313 653 254 273 192 1,422 400 379 607 433 1,893 120 314 759 104 2,376 185 428 64 427 1,285 749 1,068 160 258 834 94 504 69 309 750 367 75 96 1,681 187 805 99 440 34 140 94 383 1,015 320 S1 15,673 4,710 1,089 147 942 1,469 362 318 664 260 277 196 1,437 405 386 614 441 1,927 122 320 780 106 2,407 188 442 66 434 1,312 763 1,088 162 261 879 95 510 70 316 761 372 76 98 1,734 190 818 102 446 35 143 96 390 1,030 327 PIVOT 15,938 4,790 1,101 149 969 1,501 373 323 674 264 282 201 1,456 412 393 624 448 1,961 125 329 812 110 2,445 192 460 70 444 1,338 788 1,102 164 265 916 97 517 72 322 776 377 79 100 1,803 194 828 107 455 36 148 97 398 1,045 332 R1 16,130 4,852 1,112 151 987 1,525 380 327 685 270 285 205 1,470 418 400 631 456 1,995 127 335 833 112 2,476 195 474 72 451 1,364 802 1,122 166 268 961 97 523 73 329 787 383 80 102 1,857 197 841 109 461 37 151 98 405 1,060 339 R2 16,395 4,932 1,123 152 1,014 1,557 391 332 695 274 290 209 1,489 425 407 642 464 2,029 130 343 866 115 2,513 198 491 76 461 1,390 827 1,136 168 273 998 99 530 75 335 801 388 83 104 1,926 201 852 114 469 38 156 99 413 1,075 345

Technical Research Team

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Technical Research Technical Report | October 05, 2011

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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