Technical Research | September 27, 2011

Daily Technical Report

Sensex (16051) / Nifty (4835)
Markets opened with a neutral bias and drifted towards 15800 / 4750 level during the first half the session but buying emerged near this level which pushed indices higher to give a close above 16000 / 4800 mark. On the sector front, Consumer Durables, Metal and PSU counters were among the major losers. The advance decline ratio was strongly in favor of declining counters (A=786 D=1966). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No specific formation is seen on the chart.

Trading strategy:
Markets traded with immense volatility as indices recovered substantially after falling nearly 2 percent during the first half of the session. Looking at the global clues, it can be seen that today our markets may open with a positive bias. Going forward, yesterdays high of 16210 / 4880 may act as resistance in coming session. A sustainable move beyond this level can take indices towards the next resistance levels of 16368 16490 / 4930 4960 in coming sessions. On the downside, 15765 / 4720 level continues to be a crucial support level. If indices breach this level, then they are likely to drift towards 15650 15330 / 4675 4540.
Source: Falcon

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Technical Research | September 27, 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 15,612 4,704 1,048 138 1,013 1,449 361 1,558 642 252 277 186 1,459 396 376 612 431 1,901 120 321 814 106 2,276 181 490 63 437 1,384 749 1,040 160 250 915 94 458 74 371 736 405 77 100 1,899 190 821 111 446 35 140 88 412 952 332 S1 15,832 4,770 1,064 143 1,035 1,479 371 1,572 650 261 282 194 1,472 403 381 617 440 1,939 124 325 836 108 2,316 185 501 66 448 1,405 760 1,058 162 252 944 94 470 76 380 748 414 78 102 1,925 195 833 114 456 36 143 92 424 975 336 PIVOT 16,020 4,825 1,077 146 1,060 1,515 378 1,590 656 269 285 200 1,485 414 385 623 449 1,992 129 328 855 109 2,340 189 514 68 454 1,431 770 1,084 165 256 965 95 479 78 393 759 423 80 104 1,948 200 846 118 466 38 146 97 432 991 341 R1 16,240 4,891 1,093 150 1,081 1,545 388 1,604 664 277 290 207 1,498 420 390 628 459 2,030 133 332 877 111 2,380 193 524 71 465 1,452 781 1,102 167 258 994 96 491 80 402 771 432 82 106 1,974 205 858 122 476 39 149 101 443 1,014 345 R2 16,429 4,946 1,105 154 1,106 1,581 395 1,621 670 285 293 213 1,511 431 395 634 467 2,083 137 336 897 112 2,404 197 538 73 472 1,478 792 1,127 170 261 1,014 97 500 82 414 782 442 83 108 1,997 210 871 126 485 40 152 106 451 1,030 351

Technical Research Team

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Technical Research | September 27, 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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