Technical Research | August 2, 2011

Daily Technical Report

Sensex (18314) / NIFTY (5517)
Markets opened with an upside gap but could not sustain at higher levels and traded with extreme volatility throughout the day. On the sector front, IT, Teck and Auto were among the major gainers whereas Metal sector ended on a losing side. The advance decline ratio was in favor of declining counters (A=1204 D=1646). (Source - www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
We are witnessing a "Narrow Range Body" formation on the Daily chart which indicates indecisiveness prevailing at the current level.
Source: Falcon

Trading strategy:
Markets opened on an optimistic note and traded with extreme volatility throughout the day to give a close marginally in a positive territory. Indices have given a minor bounce back and registered a high of 18440 / 5552 which is also 38.2% Fibonacci retracement level of the corrective move from 18945 to 18131 / 5702 to 5453. In the coming trading session, if indices trade below today's low of 18219 / 5486, then they are likely to test 18132 / 5453 level. Any move below this important support level, indices may test 18000 / 5400 level. On the upside, 18440 - 18538 / 5552 - 5577 may act as resistance levels in coming trading session.

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Technical Research | August 2, 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 HEROHONDA 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 18,104 5,453 995 124 1,335 1,461 432 1,797 644 305 303 224 1,560 454 474 682 478 1,741 163 318 1,027 124 2,763 206 540 66 441 1,725 719 1,173 175 266 1,081 103 534 99 527 813 525 110 113 2,295 254 905 152 514 52 943 1,261 558 1,112 382 S1 18,209 5,485 1,002 127 1,344 1,473 437 1,810 650 308 305 227 1,580 459 480 688 483 1,768 166 321 1,036 126 2,789 208 556 67 448 1,744 725 1,191 176 270 1,099 105 548 101 540 822 537 111 117 2,320 262 911 155 519 53 952 1,278 566 1,124 387 PIVO PIVOT 18,325 5,518 1,011 130 1,356 1,485 442 1,832 658 310 308 233 1,596 464 488 698 489 1,789 169 324 1,048 128 2,806 209 574 68 454 1,756 730 1,210 177 272 1,122 107 556 102 563 830 547 112 122 2,352 271 920 159 523 54 960 1,294 571 1,137 392 R1 18,430 5,550 1,018 132 1,365 1,498 447 1,845 663 314 310 236 1,617 469 493 704 494 1,816 171 326 1,057 131 2,833 211 590 69 460 1,776 736 1,229 178 276 1,140 109 569 104 576 839 559 114 125 2,377 278 927 162 528 55 969 1,312 579 1,148 397 R2 18,545 5,584 1,027 136 1,377 1,510 452 1,867 671 316 313 241 1,633 474 501 713 501 1,837 175 330 1,069 133 2,850 213 607 70 466 1,787 741 1,247 180 279 1,163 111 577 106 599 847 569 115 131 2,408 287 936 166 532 56 976 1,327 584 1,162 402

Technical Research Team

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Technical Researchechnical 2, 2011 T | August Report

RESEARCH TEAM
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Head - Technicals Technical Analyst Technical Analyst Technical Analyst

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