Technical Research | July 25, 2011

Daily Technical Report

Sensex (18722) / NIFTY (5634)
Markets opened higher and traded with positive bias throughout the day to close near the day's high. On the sector front, Banking,Teck and Auto were among the major gainers, whereas Consumer Durables ended with marginal losses. The advance decline ratio was in favor of advancing counters (A=1715 D=1188). (Source - www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
On the Daily chart, we are witnessing a chart pattern which resembles a "Bullish Triangle" joining two significant highs of 19132 & 18766 / 5740 & 5645 and two significant lows of 18326 & 18415 / 5496 & 5532.
Source: Falcon

to test an intermediate resistance level of 19132 / 5740. Also, due to RBI monetary policy and Derivatives expiry, there is a possibility of high volatility in coming trading sessions. We reiterate our view that a weekly closing above 19132 / 5740 level would indicate a clear direction of the trend. Any move beyond these levels, indices may test 19540 - 19700 / 5850 - 5900 levels. On the downside, 18415 - 18326 / 5532 - 5496 levels may act as strong support zone for the markets.

Trading strategy:
We are observing a "Bullish Triangular" pattern in Daily chart. A breakout of said pattern will be confirmed only if prices move above 18766 / 5645 level. If indices manage to give a break out of this pattern then a positive momentum is likely to be witnessed in coming week. In such scenario, we expect markets

Stock Recommendations:
Stock - Ambuja Cement (NSE Cash) Action - Buy Range Stop Loss Target : `131-125 : `119.95 : `147

Exhibit 2: Ambuja Cement (NSE Cash) - Daily Chart

Time Frame : 3 - 4 Weeks

Source: Falcon

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Technical Research | July 25, 2011

Daily Pivot Levels For Nifty 50 Stocks

SCRIPS
SENSEX NIFTY ABB ACC AMBUJACEM AXISBANK BHARTIARTL BHEL BPCL CAIRN CIPLA DLF GAIL HCLTECH HDFC HDFCBANK HEROHONDA HINDALCO HINDUNILVR ICICIBANK IDEA IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS UNITECH WIPRO S2 18,454 5,540 864 966 124 1,212 390 1,920 648 316 313 234 455 499 695 494 1,776 173 329 1,038 78 136 2,740 205 620 74 471 1,785 698 1,149 180 275 1,128 106 528 88 584 856 570 113 128 2,442 920 166 502 52 970 1,271 571 1,119 34 400 S1 18,588 5,587 873 980 127 1,255 401 1,948 658 321 317 238 461 502 701 498 1,798 175 332 1,053 82 139 2,784 206 624 75 478 1,806 711 1,155 182 277 1,149 108 535 91 591 865 575 114 130 2,470 926 168 507 52 983 1,286 578 1,126 35 403 PIVO PIVOT 18,668 5,614 885 989 129 1,283 407 1,965 665 324 320 241 464 505 707 502 1,811 177 334 1,062 84 140 2,814 208 629 75 484 1,818 719 1,162 184 280 1,162 109 541 93 595 871 579 114 131 2,488 932 168 512 53 994 1,305 582 1,134 36 405 R1 18,802 5,661 895 1,003 131 1,326 417 1,992 675 329 324 244 470 508 713 506 1,833 179 337 1,077 88 143 2,858 209 633 76 491 1,839 732 1,168 186 282 1,183 111 548 95 603 879 584 115 133 2,517 939 170 517 54 1,008 1,321 589 1,141 36 408 R2 18,881 5,688 907 1,012 133 1,354 423 2,009 682 333 327 248 473 510 719 511 1,845 182 340 1,085 90 145 2,888 210 639 76 497 1,851 739 1,175 189 284 1,196 112 553 97 607 885 587 116 134 2,535 945 171 521 54 1,019 1,340 593 1,149 37 410

Technical Research Team

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Technical Research | July 25, 2011 Technical Report

RESEARCH TEAM
Shardul Kulkarni Mileen Vasudeo Sameet Chavan Sacchitanand Uttekar Mehul Kothari Head - Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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