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