Technical Research | September 30, 2011

Daily Technical Report

Sensex (16698) / Nifty (5015)
Our benchmark indices opened on a flat note and traded with extreme choppiness during the first half but surged in the second half of the session and thus closed marginally above 5000 mark. On the sector front, Auto, IT and FMCG counters were among the major gainers whereas Consumer Durables ended on a losing side. The advance decline ratio was in favor of declining counters (A=1265 D=1507). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
The 20 Day EMA is placed at 16670 / 5010 level. The 61.8% Fibonacci retracement level of 17191 to 15801 / 5169 to 4758 is at 16660 / 5011 level.

Trading strategy:
Looking at the daily chart, it can be seen that indices have closed marginally above "20. Day EMA" and 61.8% Fibonacci retracement level which is considered as a stiff resistance. However, considering the volatility in global indices it is likely that our markets may open with a negative bias.On the upside if indices manage to cross yesterdays high of 16756 / 5034 then they are likely to test 16900 17000 / 5060 - 5090. On the downside, 16317 - 16166 / 4906 - 4868 levels may act as a support in coming trading sessions.
Source: Falcon

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Technical Research | September 30, 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 16,151 4,857 1,067 143 1,043 1,473 369 1,579 617 266 281 214 1,466 410 397 627 444 1,875 126 326 844 109 2,432 193 504 67 448 1,320 762 1,033 162 256 935 95 487 76 346 773 391 78 102 1,892 187 803 115 460 36 147 98 409 1,023 339 S1 16,424 4,936 1,079 145 1,056 1,506 372 1,622 637 272 285 219 1,478 418 404 640 457 1,938 130 335 867 111 2,492 198 513 71 462 1,345 788 1,069 165 262 953 96 494 77 353 791 397 79 106 1,922 189 832 117 463 37 154 100 421 1,042 343 PIVOT 16,590 4,985 1,088 147 1,068 1,527 377 1,651 652 277 287 222 1,491 424 408 650 466 1,978 132 341 882 112 2,531 200 519 73 471 1,373 806 1,093 168 267 964 98 501 78 360 802 403 80 108 1,942 192 848 118 467 37 158 102 430 1,055 347 R1 16,864 5,064 1,100 149 1,082 1,560 380 1,695 672 282 291 227 1,503 432 415 663 479 2,041 136 350 905 115 2,590 205 528 77 485 1,398 832 1,129 171 273 982 99 508 79 367 819 410 81 112 1,972 194 877 120 471 38 165 104 442 1,074 351 R2 17,030 5,113 1,109 151 1,094 1,581 384 1,724 687 287 293 231 1,516 438 420 673 488 2,082 138 356 919 116 2,629 208 534 79 494 1,426 850 1,153 173 278 993 100 516 80 375 830 416 81 115 1,992 197 893 122 475 39 170 106 451 1,087 354

Technical Research Team

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Technical Research | September 30, 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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