Technical Research | October 04, 2011

Daily Technical Report

Sensex (16151) / Nifty (4850)
We witnessed a gap down opening in-line with global cues and traded in a narrow range to close in the negative territory. On the sector front, Realty, Metal and Banking counters were among the major losers. The advance decline ratio was strongly in favor of declining counters (A=876 D=1910). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
We are witnessing a gap area of 16404 to 16256 / 4924 to 4879 on the Daily chart.

Trading strategy:
Indices opened significantly lower and traded in a narrow range of 16255 to 16056 / 4879 to 4823. We observed that indices were consistently facing strong selling pressure near the high it registered in the morning. Hence, going forward, yesterdays downside gap of 16404 to 16256 / 4924 to 4879 may act as a strong resistance in coming trading sessions. Looking at the global clues, it is likely that our markets may open with a negative bias. On the downside, yesterdays low of 16056 / 4823 may provide support in coming session. Any violation of this level, indices are likely to drift towards 15756 / 4720 level. .
Source: Falcon

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Technical Research | October 04, 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 15,955 4,796 1,067 142 966 1,477 366 314 619 264 271 190 1,434 398 386 611 443 1,881 120 328 821 107 2,437 191 446 68 435 1,281 786 1,057 162 259 916 95 497 70 302 775 357 75 96 1,832 188 804 106 446 35 149 93 383 1,002 317 S1 16,053 4,823 1,084 145 977 1,498 374 317 649 267 278 195 1,447 408 393 623 450 1,920 122 331 830 108 2,456 193 460 69 441 1,300 798 1,067 163 264 925 96 505 71 311 782 367 76 98 1,847 191 815 107 454 36 152 95 389 1,022 324 PIVOT 16,155 4,851 1,094 148 991 1,524 378 322 672 272 283 205 1,461 414 401 629 457 1,944 125 335 845 109 2,487 195 478 71 448 1,322 808 1,084 165 267 935 97 512 72 319 791 376 78 102 1,866 195 825 110 461 36 154 97 399 1,036 330 R1 16,253 4,878 1,111 151 1,002 1,545 386 325 702 275 289 210 1,474 424 408 641 464 1,983 127 338 854 110 2,507 197 493 71 453 1,341 820 1,094 166 271 944 98 520 73 328 797 386 79 104 1,881 198 836 111 469 37 157 99 405 1,057 337 R2 16,354 4,906 1,122 154 1,016 1,570 390 329 724 280 294 220 1,489 429 416 647 471 2,006 131 343 869 111 2,538 199 511 73 461 1,363 831 1,110 168 275 954 99 526 75 336 807 395 81 107 1,900 201 845 114 476 37 160 101 415 1,071 343

Technical Research Team

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Technical Research Technical Report | October 04, 2011

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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