Technical Research | August 23, 2011

Daily Technical Report

Sensex (16342) / Nifty (4899)
Markets opened on a subdued note and traded with extreme volatility during the first half but buying emerged in the second half which pushed indices to close in the positive territory. On the sector front, Oil & Gas, Power and Metal counters were among the major gainers whereas IT sector ended with a marginal loss. The advance decline ratio was in favor of advancing counters (A=1803 D=1018). (Source
www.bseindia.com) ]

Exhibit 1: Sensex Daily Chart

Formation
A Bullish Hammer pattern is confirmed after crossing Fridays high of 16288 / 4894.
Source: Falcon

Trading strategy:
Indices opened flat and traded with extreme volatility but managed to hold the support level of 16000 / 4800. Moreover, we witnessed a confirmation of Bullish Hammer (mentioned in our previous report) after crossing Fridays high of 16288 / 4894. Going forward, if indices manage to cross 16433 / 4932 level in the coming session then they are likely to rally towards 16450 16750 / 4950 5050 levels. On the downside, Fridays low of 15987/ 4796 would remain to act as a strong support in coming trading session. A violation of Fridays low of 15987 / 4796 would signal a fall to lower levels of 15650 15330 / 4675 4540.

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Technical Research | August 23, 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 15,929 4,771 977 129 1,000 1,368 376 1,651 678 258 274 176 1,358 399 368 633 443 1,971 131 310 813 103 2,135 194 474 58 419 1,496 687 1,139 169 269 931 98 466 73 381 713 419 81 100 1,980 203 843 121 442 36 684 1,013 450 889 306 S1 16,135 4,835 988 131 1,026 1,424 384 1,684 685 263 282 179 1,404 407 378 637 448 1,990 138 312 832 108 2,165 198 487 60 425 1,529 700 1,154 172 278 956 101 470 76 391 735 436 83 105 2,021 212 858 124 455 37 711 1,052 460 903 319 PIVOT 16,253 4,873 1,001 132 1,052 1,458 389 1,705 689 266 287 185 1,432 421 386 643 456 2,006 141 314 845 111 2,205 200 495 62 431 1,551 712 1,164 174 283 978 102 474 78 397 747 447 84 109 2,048 218 869 126 464 38 726 1,075 466 917 328 R1 16,459 4,936 1,011 133 1,077 1,515 398 1,738 696 270 295 188 1,478 429 395 647 461 2,024 148 315 864 116 2,235 204 508 64 437 1,585 725 1,180 177 292 1,002 105 478 81 408 769 464 86 115 2,089 227 884 129 477 40 753 1,114 476 931 342 R2 16,577 4,974 1,024 135 1,104 1,549 403 1,760 701 274 300 193 1,506 443 403 653 469 2,040 151 318 877 119 2,275 207 516 65 443 1,607 737 1,190 180 298 1,024 106 482 82 414 782 474 87 119 2,116 233 895 131 487 41 768 1,138 482 945 351

Technical Research Team

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Technical Research | August 23, 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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