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





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





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





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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Technical Report 20th October 2011

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