Technical Research | September 08, 2011

Daily Technical Report

Sensex (17065) / Nifty (5125)
Markets opened with an upside gap and traded with positive bias throughout the day to close well above 17000 / 5100 mark. On the sector front, Realty, Power and Capital Goods counters were among the major gainers. The advance decline ratio was in favor of advancing counters (A=1938 D=913). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
We are witnessing a positive crossover in ADX (9) indicator on the Daily chart.

Trading strategy:
Indices opened well above 20 Days EMA and traded with a strong optimism throughout the session. As mentioned in our previous report, a positive up move was witnessed after sustaining above Tuesdays high of 16895 / 5073. Subsequently, indices tested resistance level of 17100 / 5150 during the session and corrected marginally from the days high. We are now observing a positive crossover in ADX (9) indicator which indicates possibility of a further up move if indices break yesterdays high of 17157 / 5155. In this case, they are likely to test 17250 17350 / 5200 5230 levels. On the downside, 16900 16760 / 5065 5030 levels may act as support in coming trading sessions.
Source: Falcon

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Technical Research | September 08, 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 16,813 5,040 996 134 1,127 1,607 394 1,735 659 272 273 194 1,450 418 390 652 467 2,113 151 316 882 110 2,244 197 534 66 455 1,623 761 1,073 160 259 919 95 468 84 418 814 462 82 115 1,958 227 851 132 481 40 741 989 490 1,010 324 S1 16,939 5,082 1,031 141 1,135 1,624 398 1,763 666 275 278 199 1,461 422 398 660 477 2,143 155 318 889 113 2,268 199 549 69 462 1,652 773 1,100 164 261 936 96 477 86 423 824 470 83 118 1,993 230 859 134 487 41 755 1,014 494 1,021 327 PIVOT 17,048 5,118 1,055 145 1,147 1,648 402 1,781 671 279 281 203 1,475 428 404 665 484 2,165 159 320 898 115 2,291 201 559 70 466 1,673 792 1,120 166 262 952 97 485 89 430 834 477 85 121 2,018 235 866 136 492 41 768 1,033 499 1,035 329 R1 17,174 5,161 1,091 152 1,155 1,665 406 1,809 678 282 287 208 1,487 433 413 673 494 2,195 164 323 906 118 2,315 203 574 73 473 1,701 804 1,146 170 264 969 98 495 91 435 843 485 87 124 2,053 238 873 139 498 42 782 1,058 503 1,046 332 R2 17,283 5,197 1,115 156 1,167 1,689 410 1,827 684 286 290 213 1,500 438 419 679 501 2,217 168 325 914 120 2,338 205 584 75 477 1,722 823 1,166 172 266 984 99 503 94 442 853 492 89 126 2,077 243 880 141 503 42 794 1,077 508 1,060 334

Technical Research Team

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Technical Research | September 08, 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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