Technical Research | September 14, 2011

Daily Technical Report

Sensex (16467) / Nifty (4941)
Market opened marginally higher and traded with positive bias during the first half but selling pressure intensified during the second half which led indices to close in the negative territory. On the sector front, IT, Teck and Oil & Gas counters were among the major gainers whereas Auto and Healthcare were among the losers. The advance decline ratio was marginally in favor of advancing counters (A=1397 D=1395). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No specific pattern is seen on the chart.

Trading strategy:
During yesterdays trading session indices registered a high Of 16766 / 5030 which is almost 50% Fibonacci retracement level of a fall from 5170 to 4911 level. We observed a strong selling pressure around this resistance level which dragged indices to test Mondays low of 16393 / 4911.Going forward, if indices sustain below yesterdays low then they are likely to drift towards 16318 16070 / 4890 4805 levels. On the upside, 16620 16766 / 4985 5030 levels may act as resistance in coming trading session.
Source: Falcon

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Technical Research | September 14, 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 16,145 4,842 1,025 143 1,016 1,547 372 1,664 647 268 277 194 1,423 398 361 632 457 2,169 136 335 820 105 2,162 194 509 60 447 1,595 751 1,043 160 253 916 94 475 78 386 783 434 75 102 1,769 220 817 120 470 38 131 949 442 967 318 S1 16,306 4,891 1,040 144 1,033 1,574 377 1,682 652 278 282 197 1,438 403 370 639 463 2,186 139 338 836 107 2,192 195 520 62 455 1,615 766 1,059 162 255 934 94 482 80 394 796 442 77 104 1,801 223 833 122 476 39 135 964 450 980 324 PIVOT 16,536 4,961 1,049 146 1,056 1,600 384 1,714 657 285 291 200 1,461 411 381 652 469 2,208 143 343 858 109 2,226 197 528 65 462 1,644 781 1,078 164 259 948 95 493 82 404 811 452 78 107 1,850 227 848 126 486 40 142 988 459 1,002 329 R1 16,698 5,010 1,063 147 1,073 1,627 389 1,732 662 295 296 202 1,476 416 390 659 474 2,225 146 346 875 111 2,256 199 539 67 471 1,664 796 1,093 165 262 966 95 500 83 412 824 460 79 110 1,882 231 864 129 492 40 146 1,003 467 1,016 334 R2 16,928 5,080 1,072 149 1,095 1,653 397 1,763 668 301 304 205 1,499 423 401 672 481 2,246 150 351 897 113 2,290 201 547 70 478 1,693 811 1,112 167 265 981 96 510 85 423 839 470 81 113 1,932 234 879 132 502 41 152 1,026 476 1,037 339

Technical Research Team

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Technical Research | September 14, 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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