Technical Report 20th October 2011
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Transcript of Technical Report 20th October 2011
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Technical Research | October 20, 2011
Markets opened with a decent upside gap and traded with
strong positive momentum throughout the day to close
nearly 2% higher than Tuesday’s closing level. On the
sector front, Realty, Banking and Oil & Gas counters
contributed major part of yesterday’s gain. There was no
sector in the negative territory. The advance decline ratio
was strongly in favor of advancing counters (A= 1670
D= 1136). (Source –www.bseindia.com)
Formation
• On the Daily as well as Weekly chart, there is a
“Horizontal Trend Line” resistance at 17256 / 5198 level.
• The “20 EMA” on the Daily chart is placed at 16640 /
5000 level.
Trading strategy:
Markets opened with an upside gap and surged higher as
the day progressed. Thus, the gap remained unfilled and
strong positive momentum led indices towards the
mentioned level of 17110 / 5140. Going forward,
yesterday’s unfilled gap area of 16874 and 16824 / 5057
and 5075 may act as a support in coming trading session.
On the upside, the buying interest may be seen if indices
manage to sustain above yesterday’s high of 17107 /
5148. Subsequently, they are likely to rally towards the
resistance zone of 17260 - 17300 / 5177 – 5198. A move
beyond this level would attract strong buying interest, which
may push indices higher to test the gap area of 17358 –
17665 / 5230 – 5323 created on August 5, 2011.
We would advise traders to adopt a stock specific approach
and trade with strict stop losses.
Daily Technical Report
Sensex 17085 / NIFTY 5139
Exhibit 1: Ni fty Daily Chart
Source: Falcon
Actionable points:
View NeutralResistance Levels 5177 – 5198Support Levels 5075 – 5057
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Positive Bia :
Stock Name 5 Day EMA 20 Day EMA Expected Target Remark
Bharti Airtel 378.7 378 395 View will change below 370
NTPC 171 170 174.5 View will change below 167Hind Petro 347 359 359 View will change below 336.5
Negative Bias:
Stock Name 5 Day EMA 20 Day EMA Expected Target Remark
Tata Steel 435.1 437 423 View will change above 438
Hindalco 128 131.6 124 View will change above 128.5
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SCRIPS S2 S1 PIVOT R1 R2
SENSEX 16,790 16,937 17,022 17,170 17,255
NIFTY 5,048 5,094 5,121 5,166 5,194
BANKNIFTY 9,601 9,721 9,793 9,914 9,986
ACC 1,092 1,109 1,122 1,139 1,151
AMBUJACEM 151 153 155 157 158
AXISBANK 1,094 1,113 1,124 1,144 1,154
BAJAJ-AUTO 1,609 1,623 1,635 1,649 1,662
BHARTIARTL 366 375 381 390 396
BHEL 320 322 324 327 329
BPCL 632 640 646 653 659
CAIRN 294 297 300 303 306
CIPLA 283 286 289 292 294
DLF 230 235 238 242 245
DRREDDY 1,487 1,503 1,512 1,528 1,537
GAIL 406 416 422 432 439
HCLTECH 399 403 408 413 418
HDFC 664 669 675 679 685
HDFCBANK 473 483 489 498 504
HEROMOTOCO 2,016 2,041 2,067 2,093 2,118
HINDALCO 126 127 128 129 129
HINDUNILVR 325 328 331 334 337
ICICIBANK 880 892 900 912 920
IDFC 121 124 126 129 130
INFY 2,687 2,708 2,721 2,741 2,755
ITC 202 205 206 209 210
JINDALSTEL 509 520 527 537 545
JPASSOCIAT 70 72 73 74 75
KOTAKBANK 463 469 473 479 482
LT 1,339 1,370 1,387 1,418 1,435
M&M 802 806 812 816 822
MARUTI 1,042 1,054 1,064 1,076 1,086
NTPC 167 169 171 174 175
ONGC 260 264 267 271 274
PNB 963 971 978 986 993
POWERGRID 98 99 100 101 102
RANBAXY 496 506 511 520 525
RCOM 74 75 76 77 78
RELCAPITAL 321 327 331 338 342RELIANCE 816 830 837 851 858
RELINFRA 404 409 413 418 422
RPOWER 85 86 87 88 89
SAIL 103 105 106 108 109
SBIN 1,872 1,895 1,909 1,933 1,947
SESAGOA 204 209 217 222 230
SIEMENS 805 819 827 841 849
STER 116 117 119 121 123
SUNPHARMA 461 472 479 490 496
SUZLON 35 36 37 37 38
TATAMOTORS 182 184 186 189 191
TATAPOWER 99 99 100 101 102TATASTEEL 426 430 434 438 442
TCS 1,027 1,038 1,046 1,057 1,065
WIPRO 342 350 354 362 367
Technical Research Team
Daily Pivot Levels for Nifty 50 Stocks
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Technical Report
RESEARCH TEAM
Shardul Kulkarni Head - Technicals
Sameet Chavan Technical Analyst
Sacchitanand Uttekar Technical Analyst
Mehul Kothari Technical Analyst
Ankur Lakhotia Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3952 6600 Website: www.angelbroking.com
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