Nifty 50 Reports For The Week (13th - 17th June '11)

Global Research Limited
NIFTY50
WEEKLY REPORT
13th June - 17th June 2011
ACC
Weekly Pivots
STOCK R2 R1 PP S1 S2
ACC
1069.03
1036.27
1016.23
983.47
963.43
Technical Overview
The stock had a correction phase this week. it has next major support at 985, breach of this level will take the stock further downwards.
Technical Picture
Figure: 1 : Nifty50 Graph
RESISTANCE
SUPPORT
1039
985
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Ambuja Cements
Weekly Pivots
AMBUJACEM
147.82
141.93
138.62
132.73
129.42
Technical Overview
The stock is currently consolidating. Its support is at 132; if it manages to breach this level it will be in bearish trend and may move till the levels of 127-125 in near term.
Technical Picture
RESISTANCE
SUPPORT
140.50
132
Axis Bank
Weekly Pivots
AXISBANK
1276.82
1255.98
1232.07
1211.23
1187.32
Technical Overview
The stock has tried to take resistance at higher levels and is now facing a correction phase. It has next support at 1205; breach of this level will take the stock further downwards.
Technical Picture
RESISTANCE
SUPPORT
1285
1205
Bajaj Auto Ltd.

Weekly Pivots
BAJAJ AUTO
1387.35
1356.1 1337.65
1306.4 1287.95
Technical Overview
The stock is consolidating currently. One could go for buy on dip for the stock until it breaches the level of 1300 in downside, as it is expected to move in an uptrend in coming trading sessions.
Technical Picture
RESISTANCE
SUPPORT
1375
1300
Bharat Heavy Electrical

Weekly Pivots
BHEL
1966.82
1945.63
1919.82
1898.63
1872.82
Technical Overview
The stock is currently consolidating after a sharp fall previously. Now the stock's next support is at level of 1900, breach of this level will continue its bearish trend while it may also bounce back from its major support levels.
Technical Picture
RESISTANCE
SUPPORT
1975
1900
Bharat Petroleum Corporation

Weekly Pivots
BPCL
633.23
619.57
611.63
597.97
590.03
Technical Overview
The stock is moving in a bearish trend currently. Its next support is at 599, breach of which will continue its bearish trend.
Technical Picture
RESISTANCE
SUPPORT
633
599
Bharti Airtel
Weekly Pivots
BHARTIARTL
387.45
380.7
375.85
369.1
364.25
Technical Overview
The stock is consolidating currently. It now faces next resistance at 385, crossing of this level may take the stock further upwards else it has support at 370, breach of which may take the stock downwards.
Technical Picture
RESISTANCE
SUPPORT
385
370
Cipla
Weekly Pivots
CIPLA
346.82
339.63
331.82
324.63
316.82
Technical Overview
The stock is currently moving in an up rally after crossing its resistance level. One could still hold the long positions in the stock as it is expected to move till the levels of 341-345 in coming trading sessions.
Technical Picture
RESISTANCE
SUPPORT
345
323
Cairn India
Weekly Pivots
CAIRN
342.15
339.3
335.75
332.9
329.35
Technical Overview
The stock is currently facing a range bound movement. It now has major support at 330; breach of this level may take the stock further down else it may also bounce back.
Technical Picture
RESISTANCE
SUPPORT
355
330
DLF
Weekly Pivots
DLF
241.28
236.17
232.58
227.47
223.88
Technical Overview
The stock has moved in an up rally previously and is now consolidating. One should wait for sometime in the stock as it is expected to continue consolidate a bit after a sharp a continuous up rally.
Technical Picture
RESISTANCE
SUPPORT
243
225
Dr. Reddy Laboratories

Weekly Pivots
DRREDDY
1646.7
1604.4
1576.7
1534.4
1506.7
Technical Overview
The stock moved down during the week and ended with the negative biasness. The trend presently in the stock is weak. The stock is now facing resistance at 1590 which is the 10 day moving average of the stock and has support at 1535. The stock is close to its support level and break of support may take the stock further down. One may go for selling the stock once it breaks its support.
Technical Picture
RESISTANCE
SUPPORT
1590
1535
Gail India
Weekly Pivots
GAIL
457.65
451.4
441.25
435
424.85
Technical Overview
The stock showed an up movement during the week. The major trend presently in the stock is sideways. The stock is now facing resistance at 455 which is the 50 day moving average of the stock and has support at 434. A further up movement can be seen in the stock once it breaks its resistance. One may go for buying the stock once it breaks its resistance.
Technical Picture
RESISTANCE
SUPPORT
455
434
HCL Technologies
Weekly Pivots
HCLTECH
522.42
512.63
505.17
495.38
487.92
Technical Overview
The major trend in the stock is sideways and it moved down during the week. The stock is now facing resistance at 520 and has support at 495. A further down movement can be seen in the stock once it breaks its support level. One may go selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
520
495
HDFC Bank
Weekly Pivots
HDFCBANK
2421.62
2392.03
2361.12
2331.53
2300.62
Technical Overview
The stock was consolidating during the week and closed with the negative note. A further down movement can be seen in the stock once it breaks its support level. The stock is presently facing resistance at 2390 and has support at 2310. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
2390
2310
Housing Development Finance

Weekly Pivots
HDFC
686.33
668.92
657.23
639.82
628.13
Technical Overview
The stock showed a continuous down movement during the week continuing its major down trend and closed with negative biasness. The stock is presently in a weak trend. The stock is now facing resistance at 669 which is the 10 day moving average of the stock and has support at 642. Break of support level may take the stock further down. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
669
642
Hero Honda Motors

Weekly Pivots
HEROHONDA
1926.03
1825.22
1769.13
1668.32
1612.23
Technical Overview
The stock showed a continuous down trend during the week. The trend presently in the stock is weak. The stock is now facing resistance at 1756 and has support at 1690. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
1756
1690
Hindalco Industries
Weekly Pivots
HINDALCO
195.05
189.9
185.8
180.65
176.55
Technical Overview
The stock moved down during the week and closed with positive biasness. The trend presently in the stock is weak. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance level. The stock is now facing resistance at 189 which is the 10 day moving average of the stock and has support at 181.One may go for buying the stock once it breaks its resistance level.
Technical Picture
RESISTANCE
SUPPORT
189
181
Hindustan Unilever
Weekly Pivots
HINDU NILVR
326.05
318.75
312.2
304.9
298.35
Technical Overview
The stock was consolidating during the week and closed with negative biasness. The stock is now facing resistance at 318 and has support at 305. A further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
318
305
ICICI Bank
Weekly Pivots
ICICIBANK
1079.57
1057.73
1042.17
1020.33
1004.77
Technical Overview
The stock was consolidating during the week and ended negative. The trend presently in the stock is weak. The stock is now facing resistance at 1059 which is the 10 day moving average of the stock and has support at 1015. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
1059
1015
IDFC
Weekly Pivots
IDFC
140.02
136.68
134.62
131.28
129.22
Technical Overview
IDFC continued its movements with negative biasness last week also and made weekly low of 132.55. The stock now has resistance level at 141 and support level at 130. In short term it is expected to continue its negative biasness and to test its support level.
Technical Picture
RESISTANCE
SUPPORT
141
130
Infosys Technologies
Weekly Pivots
INFOSYSTCH
2962.68
2912.52
2853.83
2803.67
2744.98
Technical Overview
INFOSYS showed positive side movement last week and made weekly high of 2904. The stock has resistance level at 2925 and support level at 2830. In short term it is expected to consolidate and remain range bound, technically above the resistance level it is looking strong on charts.
Technical Picture
RESISTANCE
SUPPORT
2925
2830
ITC
Weekly Pivots
ITC
198.68
195.17
192.83
189.32
186.98
Technical Overview
ITC had volatile trading session last week and it closed with overall losses. The stock may take resistance from the level of 199 and it has support level at 189. In short term it is expected to consolidate with positive biasness but remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
199
189
Jaiprakash Associates
Weekly Pivots
JPASSOCIAT
86.62
84.03
82.32
79.73
78.02
Technical Overview
JP ASSOCIATES remained sideway during last week and close with overall losses. The stock has resistance level at 85 and support level at 79. In short term it is expected to consolidate with negative biasness and may test its support level.
Technical Picture
RESISTANCE
SUPPORT
85
79
Jindal Steel & Power

Weekly Pivots
JINDALSTEL
652.45
641.35
633.7
622.6
614.95
Technical Overview
JINDAL STEEL AND POWER consolidated with negative biasness all through last week. The stock has resistance level at 651 and support level at 624. It is expected to consolidate with negative biasness and to test its support level in short term.
Technical Picture
RESISTANCE
SUPPORT
651
624
Larsen and Turbo

Weekly Pivots
LT
1760.72
1727.38
1702.72
1669.38
1644.72
Technical Overview
L&T remained sideways in last week and closed with moderate losses. The stock has resistance level at 1737 and support level at 1654. In short term it is expected to show some correction and to test its support level.
Technical Picture
RESISTANCE
SUPPORT
1737
1654
Kotak Mahindra Bank

Weekly Pivots
KOTAKBANK
461.3
450.9
441.6
431.2
421.9
Technical Overview
KOTAK MAHINDRA BANK had volatile trading session last week and closed with moderate gain. The stock has support level at 428 and resistance level at 452. It is expected consolidate and remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
452
428
Mahindra and Mahindra

Weekly Pivots
M&M
678.57
670.38
661.17
652.98
643.77
Technical Overview
M&M showed sideways movement all through last week. The stock has support level at 648 and resistance level at 674. One should wait for entering in this stock for some time as it is expected to remain volatile.
Technical Picture
RESISTANCE
SUPPORT
674
648
Maruti Suzuki India

Weekly Pivots
MARUTI
1274.85
1250.75
1220.9
1196.8
1166.95
Technical Overview
MARUTI is in consolidation phase from last many sessions and last week it continued the same. The stock has resistance level at 1256 and support level at 1190. In short term it is expected to consolidate and remain range bound. Technically above the resistance level it is looking strong on charts.
Technical Picture
RESISTANCE
SUPPORT
1256
1190
NTPC Ltd.
Weekly Pivots
NTPC
182.4
179.3
175.75
172.65
169.1
Technical Overview
NTPC consolidated with positive biasness during last week and made weekly high of 178.85. The stock now has support level at 172 and resistance level at 181. In short term it is expected to consolidate and remain range bound.
Technical Picture
RESISTANCE
SUPPORT
181
172
Oil and Natural Gas Corp

Weekly Pivots
ONGC
285.88
276.37
270.23
260.72
254.58
Technical Overview
ONGC battered down to the level of 264.10 and it is now trading at 266.85, in today's trading session it manages to trade and closes near to the support level of 264. It is now looking weak on charts. One can go for short position in it at 264 for the target of 255.
Technical Picture
RESISTANCE
SUPPORT
271
264
Power Grid Corporation of India

Weekly Pivots
POWERGRID
103.07
102.13
100.92
99.98
98.77
Technical Overview
In today's trading session it was down by -0.30 %. It is now taking support at 98 and resistance 102, form this level further downside of movement would be expected. One can go for short position in it at 98 for the target of 91.
Technical Picture
RESISTANCE
SUPPORT
102
98
Punjab National Bank

Weekly Pivots
PNB
1124.63
1107.67
1086.58
1069.62
1048.53
Technical Overview
After making a high of 1235 it has corrected and made a low of 1007. It has resistance at 1120 and support at 1060. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 1120 else below 1060 it would be in a downward trend.
Technical Picture
RESISTANCE
SUPPORT
1120
1060
Ranbaxy Laboratories
Weekly Pivots
RANBAXY
552.28
543.67
536.33
527.72
520.38
Technical Overview
Ranbaxy from the last few trading session moving sideways and in today's trading session it was up by 0.58 %. It is now trading at 535.05 from this level either side of movement would be expected. In order to be in an upward trend it has to trade and consolidate above the resistance level of 555 else below 529 it would be in a downward trend.
Technical Picture
RESISTANCE
SUPPORT
555
529
Reliance Capital
Weekly Pivots
RELCAPITAL
563.03
547.82
531.78
516.57
500.53
Technical Overview
Reliance capital in today's trading session manages to trade and close above the support level of 533 and it was down by 1.62 %. It is now taking support at 525 and resistance at 550. One can go for short position in it at 528 below this level it would be in a downward trend.
Technical Picture
RESISTANCE
SUPPORT
550
525
Reliance Communications
Weekly Pivots
RCOM
97.07
94.83
92.87
90.63
88.67
Technical Overview
After making a high of 97.70 this stock is moving sideways and it made a low of 90.90. It is now taking support at 90 and resistance at 98. It is looking bearish in the coming trading session if it manages to trade below the support level of 90 else above resistance level of 95 it would be in an uptrend.
Technical Picture
RESISTANCE
SUPPORT
95
90
Reliance Industries
Weekly Pivots
RELIANCE
976.07
960.28
944.22
928.43
912.37
Technical Overview
It is taking resistance at 967 and support at 928, a negative opening made it to trade below the 10 days and 50 days moving averages. It is looking weak on charts from this level further downside of movement would be expected, one can go for long position in at 967 above this level it would be in an upward trend else below 944 it might be in a downward trend.
Technical Picture
RESISTANCE
SUPPORT
967
944
Reliance Infrastructure
Weekly Pivots
RELINFRA
574.73
559.57
549.83
534.67
524.93
Technical Overview
It is now taking support at 538 and resistance at 565. It is now moving sideways form this level down side of movement would be expected. It is looking bearish in the coming trading session if it manages to trade below the support level of 538 else above 565 it might be in an upward trend.
Technical Picture
RESISTANCE
SUPPORT
565
538
Reliance Power
Weekly Pivots
RPOWER
121.62
118.68
116.87
113.93
112.12
Technical Overview
Reliance Power had been moving between ranges of 115 to 120, in today's trading session it made a low of 115.05, a negative opening made it to trade it below the 10 days and 50 days moving averages. It is looking bearish in the coming trading session if it manages to trade below the support level of 115, below this level it might face more selling pressure.
Technical Picture
RESISTANCE
SUPPORT
120
115
Siemens India
Weekly Pivots
SIEMENS
914.93
891.92
876.98
853.97
839.03
Technical Overview
In today's trading session it manages to close near to the resistance level of 873. It is now trading at 868.90; from this level further upside of movement would be expected. It is looking bullish on charts; one can go for long position in it at 873 above this level it would be in an upward trend.
Technical Picture
RESISTANCE
SUPPORT
873
862
Sterlite Industries India

Weekly Pivots
STER
171.82
168.93
166.87
163.98
161.92
Technical Overview
In today's trading session it manages to trade and close below the 10 days and 50 days moving averages. It is taking support at 163 and it is now trading at 166.05, from this level further downside of movement would be expected. It is now taking resistance at 170 and support at 163. One can go for short position in it at 163 for the target of 150.
Technical Picture
RESISTANCE
SUPPORT
170
163
State Bank of India

Weekly Pivots
SBIN
2379.7
2311.3
2268.3
2199.9
2156.9
Technical Overview
SBI drifted to the 2225, in today's trading session it manages to trade and closed below the 10 days and 50 days moving averages. It is now taking support at 2215 below this further downside of movement would be expected else above 2309 it would be in an upward trend. One can go for short position in it at 2225 for the target of 2180.
Technical Picture
RESISTANCE
SUPPORT
2309
2215
Steel Authority of India

Weekly Pivots
SAIL
150.45
147.55
145.3
142.4
140.15
Technical Overview
It is now taking support at 143 and resistance at 152.It is looking weak on charts, if it manages to trade below the support level of 143, below this level it would be in a downtrend.
Technical Picture
RESISTANCE
SUPPORT
152
143
Sun Pharmaceuticals
Weekly Pivots
SUNPHARMA
501.93
486.97
477.53
462.57
453.13
Technical Overview
Sun Pharma is looking weak on chart; it is now taking support at 464 and resistance at 492. It is looking bearish in the coming trading session if it manages to trade below the support of 464 else above 492 it would be in an upward trend.
Technical Picture
RESISTANCE
SUPPORT
492
464
Grasim
Weekly Pivots
GRASIM
2341.48
2286.07
2254.58
2199.17
2167.68
Technical Overview
The stock showed an either side movement during the week and ended with the negative biasness. The stock was not able to sustain at the level of 2300. The stock is now facing resistance at 2300 and has support at 2190. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
2300
2190
Tata Consultancy Services

Weekly Pivots
TCS
1233.07
1211.13
1175.57
1153.63
1118.07
Technical Overview
The stock consolidating currently. It is trying to take support at lower levels and is now moving in an up rally. Its next resistance is at 1183.50, crossing of this level may take the stock further upwards.
Technical Picture
RESISTANCE
SUPPORT
1183.50
1135
Tata Motors
Weekly Pivots
TATAMOTORS
1062.47
1041.03
1022.22
1000.78
981.97
Technical Overview
It is currently moving in a bearish trend. Its next major support at 1000, breach of this level will take the stock further down else it may also bounce from lower support levels.
Technical Picture
RESISTANCE
SUPPORT
1035
1000
Tata Steel
Weekly Pivots
TATASTEEL
589.22
579.33
571.82
561.93
554.42
Technical Overview
Tata steel is currently moving in consolidation phase after a bearish trend previously. The stock has support at 555, breach of which may take the stock downwards.
Technical Picture
RESISTANCE
SUPPORT
593
555
Tata Power Supply

Weekly Pivots
TATAPOWER
1276.87
1258.93
1241.07
1223.13
1205.27
Technical Overview
The stock is currently facing an either side movement. One should now wait for crossing of levels on either side before taking any positions in it.
Technical Picture
RESISTANCE
SUPPORT
1232
1180
Sesa Goa
Weekly Pivots
SESAGOA
295.88
291.17
286.13
281.42
276.38
Technical Overview
After making a low of 268.30 it made a smart recovery and made a high of 295.45, from this level it is continuously moving in a downward trend. It is now taking support at 280 and resistance at 292. It is now trading at 286.45, form this level further downside of movement would be expected. One can go for short position in it at 280 for the target of 250.
Technical Picture
RESISTANCE
SUPPORT
292
280
Wipro Corporation
Weekly Pivots
WIPRO
452.35
444.9
439.5
432.05
426.65
Technical Overview
The stock is moving in a tight range. Its next major resistance level at 455, crossing of this will continue the uptrend of the stock.
Technical Picture
RESISTANCE
SUPPORT
450
430
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Nifty 50 Reports For The Week (13th - 17th June '11)

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Nifty 50 Reports For The Week (13th - 17th June '11)

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Global Research Limited

Global Research Limited

Figure: 1 : Nifty50 Graph

Global Research Limited

Figure: 2 : Nifty50 Graph

Global Research Limited

Figure: 3 : Nifty50 Graph

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Bajaj Auto Ltd.

Figure: 4 : Nifty50 Graph

Global Research Limited

Bharat Heavy Electrical

Figure: 5 : Nifty50 Graph

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Bharat Petroleum Corporation

Figure: 6 : Nifty50 Graph

Global Research Limited

Figure: 7 : Nifty50 Graph

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Figure: 8 : Nifty50 Graph

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Figure: 9 : Nifty50 Graph

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Figure: 10 : Nifty50 Graph

Global Research Limited

Dr. Reddy Laboratories

Figure: 11 : Nifty50 Graph

Global Research Limited

Figure: 12 : Nifty50 Graph

Global Research Limited

Figure: 13 : Nifty50 Graph

Global Research Limited

Figure: 14 : Nifty50 Graph

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Housing Development Finance

Figure: 15 : Nifty50 Graph

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Hero Honda Motors

Figure: 16 : Nifty50 Graph

Global Research Limited

Figure: 17 : Nifty50 Graph

Global Research Limited

Figure: 18 : Nifty50 Graph

Global Research Limited

Figure: 19 : Nifty50 Graph

Global Research Limited

Figure: 20 : Nifty50 Graph

Global Research Limited

Figure: 21 : Nifty50 Graph

Global Research Limited

Figure: 22 : Nifty50 Graph

Global Research Limited

Figure: 23 : Nifty50 Graph

Global Research Limited

Jindal Steel & Power

Figure: 24 : Nifty50 Graph

Global Research Limited

Larsen and Turbo

Figure: 25 : Nifty50 Graph

Global Research Limited

Kotak Mahindra Bank

Figure: 26 : Nifty50 Graph