Nifty 50 Reports for the Week (25th - 29th July '11)
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NIFTY50 NIFTY50 WEEKLY REPORT 25th July - 29th July 2011 Global Research Limited
Transcript of Nifty 50 Reports for the Week (25th - 29th July '11)
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NIFTY50NIFTY50
WEEKLY REPORT25th July - 29th July 2011
G l o b a l R e s e a r c h L i m i t e d
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Technical Picture
Figure: 1 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moving in a tight range and had an either side movement throughout the last week. One should now wait forsometime in the stock as it is expected to continue its consolidation a bit after a bearish trend and if it manages to cross itsresistance of 1000, it may take an up rally.
STOCK R2 R1 PP S1 S2
9451000SUPPORTRESISTANCE
ACC ACC
G l o b a l R e s e a r c h L i m i t e d
ACC 1011.55 1003.3 988.7 980.45 965.85
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Technical Picture
Figure: 2 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has tried to take support at lower levels. Its next major support level is at 120, breach of this level will take thestock further downwards while it has resistance at 132.50, crossing of this level may take the stock further upwards.
STOCK R2 R1 PP S1 S2
120132.50SUPPORTRESISTANCE
Ambuja Cements Ambuja Cements
G l o b a l R e s e a r c h L i m i t e d
AMBUJACEM 133.25 131.4 128.75 126.9 124.25
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Axis Bank Axis Bank
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Technical Picture
Figure: 3 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had a volatile session in terms of price movement today post its better than expected quarterly numbers. Oneshould now wait for sometime in the stock.
STOCK R2 R1 PP S1 S2
12251340SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
AXISBANK 1354.3 1325.6 1283.3 1254.6 1212.3
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Bajaj Auto Ltd.Bajaj Auto Ltd.
www.capitalvia.com 5
Technical Picture
Figure: 4 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had a correction phase this week. It now has support at 1415, breach of this level will take the stock further downwhile it has resistance at 1450, crossing of this level will take the stock upwards.
STOCK R2 R1 PP S1 S2
14151450SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
BAJAJ-AUTO 1464.75 1456.65 1442.1 1434 1419.45
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Bharat Petroleum CorporationBharat Petroleum Corporation
www.capitalvia.com 7
Technical Picture
Figure: 6 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently moving in a range. It has resistance at 680; crossing of this level will take the stock upwards while it hassupport at 660, breach of this level will take the stock
STOCK R2 R1 PP S1 S2
660680SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
BPCL 681.92 675.43 664.87 658.38 647.82
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Bharti AirtelBharti Airtel
www.capitalvia.com 8
Technical Picture
Figure: 7 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved with positive biasness this week and had an up rally in today's trading session. One could hold the longpositions in the stock as it may be expected to move till the levels of 425-430 in coming trading session after a bitconsolidation.
STOCK R2 R1 PP S1 S2
375400SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
BHARTIARTL 423.02 417.08 406.62 400.68 390.22
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CiplaCipla
www.capitalvia.com 9
Technical Picture
Figure: 8 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had consolidation in today's trading session. Now its next support is at 310, breach of this level may take the stockfurther down else it may also bounce back and crossing of resistance 324 will take it further upwards.
STOCK R2 R1 PP S1 S2
310324SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
CIPLA 326.98 324.22 320.23 317.47 313.48
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Cairn IndiaCairn India
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Technical Picture
Figure: 9 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is consolidating currently in a range after a bearish trend previously. One should now wait for sometime in thestock as it is expected to consolidate a bit after this downfall.
STOCK R2 R1 PP S1 S2
313330SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
CAIRN 332.78 329.32 324.43 320.97 316.08
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DLFDLF
www.capitalvia.com 11
Technical Picture
Figure: 10 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had an either side movement this week. One should wait for crossing of levels on either side before taking anypositions in it.
STOCK R2 R1 PP S1 S2
230246SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
DLF 247.92 244.48 241.07 237.63 234.22
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Dr. Reddy LaboratoriesDr. Reddy Laboratories
www.capitalvia.com 12
Technical Picture
Figure: 11 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week and closed with positive biasness. The major trend presently in the stock issideways. The stock is now facing resistance at 1580 and has support at 1530. As the stock closed positive note a further upmovement can be seen in the stock once it breaks its resistance level.
STOCK R2 R1 PP S1 S2
15301580SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
DRREDDY 1595.28 1582.57 1565.03 1552.32 1534.78
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Gail IndiaGail India
www.capitalvia.com 13
Technical Picture
Figure: 12 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed an up movement during the week and closed with positive biasness. The major trend presently in thestock is sideways. The stock is now facing resistance at 485 and has support at 450. As the stock closed with positivebiasness a further up movement can be seen in the stock once it breaks its resistance.
STOCK R2 R1 PP S1 S2
450485SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
GAIL 473.23 469.87 464.23 460.87 455.23
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HCL TechnologiesHCL Technologies
www.capitalvia.com 14
Technical Picture
Figure: 13 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and closed with positive biasness. The stock is now facing resistance at 510and has support at 495. Break of resistance may take the stock further up. One may go for buying the stock once it breaksits resistance level.
STOCK R2 R1 PP S1 S2
495510SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HCLTECH 510.4 507.65 504.75 502 499.1
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HDFC BankHDFC Bank
www.capitalvia.com 15
Technical Picture
Figure: 14 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week but managed to close on a positive note. The stock is now facing resistance at 509and has support at 490. As the stock closed with positive biasness a further up movement can be seen in the stock once itbreaks its resistance level. One may go for buying the stock once it breaks its resistance level.
STOCK R2 R1 PP S1 S2
490509SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HDFCBANK 510.68 506.12 502.48 497.92 494.28
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Housing Development FinanceHousing Development Finance
www.capitalvia.com 16
Technical Picture
Figure: 15 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during week and closed on appositive note. The stock is now facing resistance at 705 and hassupport at 690. Break of resistance may take the stock further up. One may go for buying the stock one it breaks itsresistance level.
STOCK R2 R1 PP S1 S2
690705SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HDFC 718.58 713.22 706.63 701.27 694.68
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Hero Honda MotorsHero Honda Motors
www.capitalvia.com 17
Technical Picture
Figure: 16 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a down movement during the earlier trading days and then moved up during the later trading days. Thestock is now facing resistance at 1840 and has support at 1785. Break of resistance may take the stock further up. One maygo for buying the stock once it breaks its resistance level.
STOCK R2 R1 PP S1 S2
17851840SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HEROHONDA 1845.38 1833.07 1810.53 1798.22 1775.68
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Hindalco IndustriesHindalco Industries
www.capitalvia.com 18
Technical Picture
Figure: 17 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed an either side movement during the week and closed with negative biasness. The trend presently in thestock is sideways. The stock is now facing resistance at 182 which is the 50 day moving average of the stock and hassupport at 173. Break of support may take the stock further down.
STOCK R2 R1 PP S1 S2
173182SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HINDALCO 181.77 179.23 177.27 174.73 172.77
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Hindustan UnileverHindustan Unilever
www.capitalvia.com 19
Technical Picture
Figure: 18 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and trading sideways and closed with negative biasness. The stock is nowfacing resistance at 339 and has support at 326. The trend presently in the stock is sideways. Break of support may take thestock further down. One may go for selling the stock once it breaks its support.
STOCK R2 R1 PP S1 S2
326339SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
HINDUNILVR 339.6 336.65 334.45 331.5 329.3
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ICICI BankICICI Bank
Weekly Pivots
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Technical Picture
Figure: 19 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a sideways movement during the week and closed with positive biasness. The stock is now facingresistance at 1070 which and has support at 1040. A further up movement is expected in the stock once it breaks itsresistance level. One may go for buying the stock once it breaks its resistance level.
STOCK R2 R1 PP S1 S2
10401070SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
ICICIBANK 1085.05 1076.55 1061.5 1053 1037.95
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IDFCIDFC
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Technical Picture
Figure: 20 : Nifty50 Graph
Technical Overview
Weekly Pivots
IDFC showed volatile movements during last week, and closed with moderate gain. The stock now has resistance level at144 and support level at 136. In short term it is expected to consolidate with positive biasness, also crossing of resistancelevel may take the stock at higher levels.
STOCK R2 R1 PP S1 S2
136144SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
IDFC 145.22 143.43 140.47 138.68 135.72
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ITCITC
www.capitalvia.com 23
Technical Picture
Figure: 22 : Nifty50 Graph
Technical Overview
Weekly Pivots
ITC had upside trading session during last week and made weekly high of 209.20. The stock may take resistance from thelevel of 210 and it has support level at 203. In short term it is expected to consolidate and remain range bound, also crossingof resistance level may take it to higher levels.
STOCK R2 R1 PP S1 S2
203210SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
ITC 210.33 208.87 207.73 206.27 205.13
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Jaiprakash AssociatesJaiprakash Associates
www.capitalvia.com 24
Technical Picture
Figure: 23 : Nifty50 Graph
Technical Overview
Weekly Pivots
JP ASSOCIATES showed negative biasness all through last week. The stock has resistance level at 77 and support level at 74.In short term it is expected to consolidate with negative biasness in short term, also if it continue to sustain above thesupport level a bounce back can be seen in it.
STOCK R2 R1 PP S1 S2
7477SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
JPASSOCIAT 76.37 75.83 75.32 74.78 74.27
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Larsen and TurboLarsen and Turbo
www.capitalvia.com 26
Technical Picture
Figure: 25 : Nifty50 Graph
Technical Overview
Weekly Pivots
L&T is in sideways trend from last many sessions and last week it followed the same. The stock has resistance level at 1843and support level at 1768. In short term it is expected to consolidate and remain range bound. On should wait for properbreakout in the stock as either side movement can be seen.
STOCK R2 R1 PP S1 S2
17681843SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
LT 1850.95 1839.1 1818.15 1806.3 1785.35
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Kotak Mahindra BankKotak Mahindra Bank
www.capitalvia.com 27
Technical Picture
Figure: 26 : Nifty50 Graph
Technical Overview
Weekly Pivots
KOTAK MAHINDRA BANK had volatile trading session last week and it closed almost flat. The stock has support level at 469and resistance level at 495. It is expected consolidate and remain range bound in short term.
STOCK R2 R1 PP S1 S2
469495SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
KOTAKBANK 496.58 491.07 483.58 478.07 470.58
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Mahindra and MahindraMahindra and Mahindra
www.capitalvia.com 28
Technical Picture
Figure: 27 : Nifty50 Graph
Technical Overview
Weekly Pivots
M&M showed volatile movements all through last week and closed almost flat. The stock has support level at 698 andresistance level at 726. It is expected to consolidate with positive biasness and crossing of resistance level may take it tohigher levels.
STOCK R2 R1 PP S1 S2
698726SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
M&M 739.12 731.73 718.62 711.23 698.12
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Maruti Suzuki IndiaMaruti Suzuki India
www.capitalvia.com 29
Technical Picture
Figure: 28 : Nifty50 Graph
Technical Overview
Weekly Pivots
MARUTI consolidated with negative biasness all through last week and it closed with nominal loss. The stock has resistancelevel at 1177 and support level at 1140. In short term it is expected to consolidate and may test its resistance level.
STOCK R2 R1 PP S1 S2
11401177SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
MARUTI 1174.53 1168.07 1161.53 1155.07 1148.53
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NTPC Ltd.NTPC Ltd.
www.capitalvia.com 30
Technical Picture
Figure: 29 : Nifty50 Graph
Technical Overview
Weekly Pivots
NTPC had volatile trading session last week and it closed with moderate loss. The stock has support level at 182 andresistance level at 190. In short term it is expected to consolidate and remain range bound. Also breaching of support levelmay take it to lower levels.
STOCK R2 R1 PP S1 S2
182190SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
NTPC 188.57 185.88 184.27 181.58 179.97
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Oil and Natural Gas CorpOil and Natural Gas Corp
www.capitalvia.com 31
Technical Picture
Figure: 30 : Nifty50 Graph
Technical Overview
Weekly Pivots
ONGC is moving sideways and in today's trading session it manages to trade above its 10 days and 50 days movingaverages and it is now trading at 279.60. It is now taking resistance at 282 and support at 274. It is looking strong on charts;one can go for long position in it at 282 for the target of 295.
STOCK R2 R1 PP S1 S2
274282SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
ONGC 284.07 281.83 279.67 277.43 275.27
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Power Grid Corporation of IndiaPower Grid Corporation of India
www.capitalvia.com 32
Technical Picture
Figure: 31 : Nifty50 Graph
Technical Overview
Weekly Pivots
ONGC is moving sideways and in today's trading session it manages to trade above its 10 days and 50 days movingaverages; from this level further upside of movement would be expected. It is now taking resistance at 113 above this levelit would be in an upward trend else below support level of 106 it might face more selling pressure.
STOCK R2 R1 PP S1 S2
106113SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
POWERGRID 111.82 110.68 109.02 107.88 106.22
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Punjab National BankPunjab National Bank
www.capitalvia.com 33
Technical Picture
Figure: 32 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has been moving short term uptrend; it is now trading at 1169.70 from this level further upside of movementwould be expected. It is now taking resistance at 1185 and support at 1132. One can go for long position in it at 1185 forthe target of 1120.
STOCK R2 R1 PP S1 S2
11321185SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
PNB 1195.83 1182.77 1161.88 1148.82 1127.93
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Ranbaxy LaboratoriesRanbaxy Laboratories
www.capitalvia.com 34
Technical Picture
Figure: 33 : Nifty50 Graph
Technical Overview
Weekly Pivots
After making a high of 562.90 it is continuously moving in a downward trend and battered down to the level of 530; fromthis level it made a smart recovery and made a high of 546. It is looking bullish in the coming trading session if it manages totrade above the resistance level of 554 else below 530 it would be in a downward trend.
STOCK R2 R1 PP S1 S2
530554SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RANBAXY 553.45 548.1 540.65 535.3 527.85
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Reliance CapitalReliance Capital
www.capitalvia.com 35
Technical Picture
Figure: 34 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock closed positive and it showing gaining momentum with increase in volume. It is looking bullish in the comingtrading session; one can go for long position in it at 605 for the target of 625.
STOCK R2 R1 PP S1 S2
585605SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RELCAPITAL 606.92 602.58 595.42 591.08 583.92
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Reliance CommunicationsReliance Communications
www.capitalvia.com 36
Technical Picture
Figure: 35 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had been consolidating with negative bias and in last trading session it battered down to the level of 89.25, fromthis level it made a recovery and made a high of 94.15. It is now taking support at 89 and resistance at 95. It is looking strongon charts; one can go for long position in it at 95 for the target of 100.
STOCK R2 R1 PP S1 S2
8995SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RCOM 96.73 95.17 92.58 91.02 88.43
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Reliance IndustriesReliance Industries
www.capitalvia.com 37
Technical Picture
Figure: 36 : Nifty50 Graph
Technical Overview
Weekly Pivots
After making low of 840.70 it is continuously moving in an upward trend and a negative opening made it to trade abovethe 10 days DMA. In order to be in an upward trend it has to trade and consolidate above the 10 days and 50 days movingaverages. It is now taking resistance at 887 above this level it would be in an upward trend.
STOCK R2 R1 PP S1 S2
857877SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RELIANCE 885.45 879.4 870.95 864.9 856.45
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Reliance InfrastructureReliance Infrastructure
www.capitalvia.com 38
Technical Picture
Figure: 37 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has been trading in a range of 560-586, it now trading at 580.40. It has manages to trade and close below the 10days and 50 days moving averages. One can go for long position in it at 586 for the target of 600.
STOCK R2 R1 PP S1 S2
560586SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RELINFRA 587.1 583.75 578.65 575.3 570.2
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Reliance PowerReliance Power
www.capitalvia.com 39
Technical Picture
Figure: 38 : Nifty50 Graph
Technical Overview
Weekly Pivots
RPOWER is trading in a range of 116-120 and it is now trading at 118.65. In order to be in an upward trend it has to tradeand consolidate above the 10 days and 50 days moving averages. It is showing momentum above the level of 120, one cango for long position in it at 120 for the target of 128.
STOCK R2 R1 PP S1 S2
112117SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
RPOWER 115.9 115.25 114.25 113.6 112.6
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Siemens IndiaSiemens India
www.capitalvia.com 40
Technical Picture
Figure: 39 : Nifty50 Graph
Technical Overview
Weekly Pivots
SIEMENS INDIA remains positive all through the last week and made 52 weeks high of 939. In upcoming session upwardmovement can be expected. It now has next resistance level at 939 and support level at 923. It's looking very strong on thechart. One may hold long position in it till it breaks its support level of 923.
STOCK R2 R1 PP S1 S2
923939SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
SIEMENS 945.18 938.62 932.43 925.87 919.68
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Sterlite Industries IndiaSterlite Industries India
www.capitalvia.com 41
Technical Picture
Figure: 40 : Nifty50 Graph
Technical Overview
Weekly Pivots
STERLITE INDUSTRIES remain positive all through last week and made a weekly high of 169.25. The major trend in the stockis sideways. It has next resistance level at 170 and support level at 167. In upcoming session some correction is expected.One may go for the long position above its resistance level.
STOCK R2 R1 PP S1 S2
167170SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
STER 170.55 169.7 168.4 167.55 166.25
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State Bank of IndiaState Bank of India
www.capitalvia.com 42
Technical Picture
Figure: 41 : Nifty50 Graph
Technical Overview
Weekly Pivots
STATE BANK OF INDIA remains volatile all through last week and closed almost flat. It now has resistance level at 2529 andsupport level at 2444. It is expected to consolidate with positive biasness and to test its resistance level in short term. Onemay go for the buy on dip strategy till it breaks its support level of 2444.
STOCK R2 R1 PP S1 S2
24442529SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
SBIN 2535.43 2516.92 2488.48 2469.97 2441.53
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Steel Authority of IndiaSteel Authority of India
www.capitalvia.com 44
Technical Picture
Figure: 43 : Nifty50 Graph
Technical Overview
Weekly Pivots
STEEL AUTHORITY OF INDIA remains negative all through last week and made a weekly low of 128.60. The stock is in majordown trend, it has support level at 128 and resistance level at 132. One may hold short position in it till it crosses itsresistance level of 134.
STOCK R2 R1 PP S1 S2
128134SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
SAIL 134.02 132.83 130.97 129.78 127.92
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Sun PharmaceuticalsSun Pharmaceuticals
www.capitalvia.com 45
Technical Picture
Figure: 44 : Nifty50 Graph
Technical Overview
Weekly Pivots
SUN PHARMACEUTICALS remains volatile all through last week and closed with moderate gains. The major trend in thestock is bullish. In upcoming session upward movement is expected. It now has next resistance level at 519 and supportlevel at 510. One could go for buy on dip strategy till it breaks its support level of 510.
STOCK R2 R1 PP S1 S2
510519SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
SUNPHARMA 521.15 516.7 511.55 507.1 501.95
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GrasimGrasim
www.capitalvia.com 46
Technical Picture
Figure: 45 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed an up movement during the week and closed with positive biasness. The stock is now facing resistance at2245 and has support at 2180. As the stock closed with positive biasness a further up move can be seen in the stock once itbreaks its resistance level. One may go for buying the stock once it breaks its resistance level.
STOCK R2 R1 PP S1 S2
21802245SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
GRASIM 2265.9 2243.35 2202.45 2179.9 2139
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Tata Consultancy ServicesTata Consultancy Services
www.capitalvia.com 47
Technical Picture
Figure: 46 : Nifty50 Graph
Technical Overview
Weekly Pivots
TATA CONSULTANCY SERVICES remains sideways all through last week and closed with moderate loss.It now have nextresistance level at 1152 and support level at 1119. One could go for short position below its support level.
STOCK R2 R1 PP S1 S2
11191152SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
TCS 1148.53 1140.97 1133.73 1126.17 1118.93
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Tata MotorsTata Motors
www.capitalvia.com 48
Technical Picture
Figure: 47 : Nifty50 Graph
Technical Overview
Weekly Pivots
TATA MOTORS remains negative all through last week and made a weekly low of 962.75. It now has resistance level at 1005and support level at 992. It is expected to consolidate with negative biasness in upcoming session. One may hold shortposition in it till it breaks its resistance level of 1005.
STOCK R2 R1 PP S1 S2
9921005SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
TATAMOTORS 1018.72 1007.83 994.12 983.23 969.52
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Tata Power SupplyTata Power Supply
www.capitalvia.com 50
Technical Picture
Figure: 49 : Nifty50 Graph
Technical Overview
Weekly Pivots
TATA POWER SUPPLY remains positive all through last week and made a weekly high of 1324. The major trend in the stock isbullish. In short term correction can be expected. It now has next resistance level at 1326 and support level at 1275. Onemay go for the long position above its resistance level.
STOCK R2 R1 PP S1 S2
12751326SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
TATAPOWER 1339.58 1320.67 1305.08 1286.17 1270.58
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Sesa GoaSesa Goa
www.capitalvia.com 51
Technical Picture
Figure: 50 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has manages to closed near to the resistance level of 287 from this level further upside of movement would beexpected. The closed positive from this level further upside of movement would be expected. One can go for long positionin it at 287 for the target of 300.
STOCK R2 R1 PP S1 S2
265287SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e d
SESAGOA 300.32 292.53 279.02 271.23 257.72
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Wipro Corporation Wipro Corporation
www.capitalvia.com 52
Technical Picture
Figure: 51 : Nifty50 Graph
Technical Overview
Weekly Pivots
In last week the WIPRO quarter 1 result announces due to which it shown sharp down turn and from last two tradingsession it shown some correction and moved upward. In upcoming session some more correction can be expected. It nowhas support level at 392 and resistance level at 407. One may go for the long above its resistance level .
STOCK R2 R1 PP S1 S2
392407SUPPORTRESISTANCE
G l o b a l R e s e a r c h L i m i t e dG l o b a l R e s e a r c h L i m i t e d
WIPRO 409.92 407.88 404.97 402.93 400.02
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