Technical Research | September 15, 2011

Daily Technical Report

Sensex (16710) / Nifty (5013)
Market opened flat and traded in a narrow range during initial hours of trade. However strong buying emerged near the earlier mentioned support levels of 16393 / 4911, which lead our indices to close near days high. On the sector front, IT, Teck and Metal counters were among the major gainers whereas Capital Goods were among the losers. The advance decline ratio was in favor of advancing counters (A=1528 D=1268). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No specific pattern is seen on the chart.

Trading strategy:
In yesterdays trading session once again we observed that 16393 / 4911 is acting as strong support for our indices. Also we saw that buying emerged near these levels and helped indices to test 50% Fibonacci retracement level of a fall from 5170 to 4911 which is at 5040 level. Hence going forward if our indices sustain above 16766 / 5030 level then they may rally up to 16900 17000 / 5065 5100 levels. On the downside 16393 / 4911 may act as strong support for our markets below which indices can slip towards 16318 16070 / 4890 4805 levels.
Source: Falcon

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Technical Research | September 15, 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 16,250 4,877 1,020 142 1,024 1,555 366 1,637 643 282 275 192 1,432 400 375 627 452 2,149 136 332 829 106 2,205 192 517 62 454 1,571 773 1,017 161 254 930 93 473 79 393 796 437 77 105 1,785 214 825 123 471 38 138 924 446 977 318 S1 16,480 4,945 1,034 144 1,056 1,592 372 1,685 652 285 279 196 1,449 408 385 636 466 2,171 141 342 847 108 2,278 196 530 65 460 1,590 783 1,056 162 258 944 94 479 81 403 810 447 78 107 1,806 219 836 125 481 38 140 942 458 996 330 PIVOT 16,617 4,985 1,047 146 1,076 1,617 378 1,726 660 288 285 199 1,463 413 392 643 474 2,190 144 348 858 109 2,323 198 540 67 465 1,615 794 1,080 164 260 956 95 486 82 410 820 454 79 109 1,830 225 846 126 487 39 142 966 466 1,013 338 R1 16,847 5,053 1,060 148 1,108 1,654 383 1,774 669 292 288 203 1,480 421 402 652 488 2,212 148 359 875 111 2,396 202 553 70 471 1,634 804 1,119 165 263 970 96 492 83 421 835 464 80 111 1,851 230 857 128 497 40 144 983 477 1,031 350 R2 16,984 5,094 1,073 150 1,127 1,680 389 1,815 677 295 294 206 1,494 427 409 659 496 2,231 151 364 886 113 2,440 204 563 72 475 1,659 815 1,143 167 265 981 96 500 84 428 845 471 80 113 1,875 236 867 130 503 40 146 1,007 485 1,048 358

Technical Research Team

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Technical Research | September 15, 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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