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Weekly Report 18th July 2011

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Page 1: Weekly Report 18th July 2011

July 16, 2011

For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946 1

TTTTTechnical Picks |echnical Picks |echnical Picks |echnical Picks |echnical Picks |

Markets stuck in a range

Sensex (18562) / Nifty (5581)

In our previous Weekly report, we had mentioned that

19132 / 5741 level would act as a strong resistance for the

markets. Further, we had mentioned that if on the lower side

indices violate 18682 / 5610 support level, then they may test

18527 - 18223 / 5558 - 5468 levels. The week started on a

pessimistic note and indices made a low of 18326 / 5496. The

Sensex ended with a marginal loss of 1.57%, whereas the Nifty

lost 1.41% vis-à-vis the previous week.

Pattern Formation

On the WWWWWeekly eekly eekly eekly eekly chart, the downward sloping trend line,

joining the two significant highs of 21109 & 20665 / 6339 &

6181, remains a major resistance for the indices. This resistance

zone lies in the range of 19000 - 19132 / 5700 - 5740

Future Outlook

The current price action suggests that indices are trading in the

range of 19132 / 5740 on the upside and 18326 / 5496 on

the downside. Any breach on either side of the range would

dictate the direction of the trend. In the coming week if indices

cross 18810 / 5653 level, then they may test the upper band of

the range of 19132 / 5740. A weekly closing above 19132 /

5740 level would indicate a clear breakout on the upside. On

the other hand, if 18326 / 5496 level is violated, then indices

may test 17950 - 17805 / 5400 - 5350 levels.

Source: Falcon

Exhibit 1: Nifty weekly chart

Page 2: Weekly Report 18th July 2011

July 16, 2011

For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946 2

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Technical Research Team

Weekly Pivot Levels For Nifty 50 Stocks

SENSEX

NIFTY

BANKNIFTY

ABB

ACC

AMBUJACEM

AXISBANK

BHARTIARTL

BHEL

BPCL

CAIRN

CIPLA

DLF

GAIL

HCLTECH

HDFC

HDFCBANK

HEROHONDA

HINDALCO

HINDUNILVR

ICICIBANK

IDEA

IDFC

INFOSYSTCH

ITC

JINDALSTEL

JPASSOCIAT

KOTAKBANK

LT

M&M

MARUTI

NTPC

ONGC

PNB

POWERGRID

RANBAXY

RCOM

RELCAPITAL

RELIANCE

RELINFRA

RPOWER

SAIL

SBIN

SIEMENS

STER

SUNPHARMA

SUZLON

TATAMOTORS

TATAPOWER

TATASTEEL

TCS

UNITECH

WIPRO

SCRIPS

19,218 18,890 18,608 18,280 17,998

5,734 5,658 5,577 5,501 5,420

11,631 11,433 11,187 10,989 10,743

918 901 877 860 836

1,020 1,000 969 949 918

133 129 125 122 117

1,334 1,301 1,273 1,240 1,212

407 400 393 386 378

2,006 1,968 1,941 1,903 1,876

687 680 670 663 653

330 323 316 309 302

342 333 326 317 309

252 243 230 221 208

476 461 453 438 430

520 509 496 485 472

729 711 697 680 666

526 517 505 496 484

1,969 1,899 1,854 1,784 1,740

192 184 179 172 167

339 334 331 327 324

1,107 1,084 1,061 1,037 1,014

84 83 80 79 76

147 143 136 132 125

3,065 2,898 2,809 2,642 2,553

207 204 202 200 198

665 649 630 614 596

82 79 77 75 73

519 504 487 472 455

1,895 1,859 1,813 1,778 1,732

753 737 719 703 684

1,217 1,197 1,169 1,149 1,121

197 194 188 185 179

295 287 281 273 267

1,190 1,165 1,135 1,110 1,081

115 113 110 107 104

572 558 549 535 526

102 99 97 94 92

622 608 589 574 555

898 886 866 853 833

601 585 573 557 544

122 118 116 112 110

140 135 132 128 125

2,567 2,521 2,453 2,407 2,338

948 928 909 889 870

172 168 164 159 156

531 519 507 495 483

54 52 50 48 47

1,116 1,075 1,040 998 963

1,329 1,296 1,274 1,241 1,220

606 590 579 563 552

1,211 1,179 1,145 1,113 1,080

39 36 34 32 30

439 427 417 405 396

R2R2R2R2R2 R1 R1 R1 R1 R1 PIVPIVPIVPIVPIVOOOOOTTTTT S1S1S1S1S1 S2S2S2S2S2