Technical Research | July 20, 2011

Daily Technical Report

Sensex (18654) / NIFTY (5614)
Markets opened on a flat note and traded with choppiness in the first half of the session. But in the second half we witnessed a sharp upside move which led indices to close in positive territory. On the sector front, Consumer Durables, IT and Realty were on the gaining side whereas Auto sector ended with a marginal loss. The advance decline ratio was in favor of Advancing counters (A=1652 D=1219).
(Source - www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
On the Daily chart, we are witnessing a positive crossover in the RSI momentum oscillator.

Source: Falcon

in RSI oscillator, we expect indices to trade with a positive bias if they manage to cross today's high of 18690 / 5628 level. In this case indices may test 18800 - 18930 / 5650 - 5680 levels. On the downside, 18470 / 5550 levels may act as a support for coming trading session.

Trading strategy:
After a range bound movement of nearly 3 - 4 trading sessions, NIFTY has managed to give a close marginally above its psychological level of 5600. Looking at the positive crossover

Stock Recommendations:
Stock - AMBUJA CEMENT (July Futures) Futures) Action - Buy Range : `127 - 126.75

Exhibit 2: AMBUJA CEMENT (July Futures) - Daily Chart

Stop Loss : `125.70 Target : `130.00

Source: Falcon

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Technical Research | July 20, 2011

Daily Pivot Levels For Nifty 50 Stocks

SCRIPS
SENSEX NIFTY ABB ACC AMBUJACEM AXISBANK BHARTIARTL BHEL BPCL CAIRN CIPLA DLF GAIL HCLTECH HDFC HDFCBANK HEROHONDA HINDALCO HINDUNILVR ICICIBANK IDEA IDFC INFY 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 S2 18,400 5,529 863 968 124 1,256 387 1,942 664 312 314 227 445 502 689 502 1,766 180 328 1,029 79 136 2,698 200 619 75 479 1,766 697 1,149 185 274 1,129 108 536 92 581 860 561 112 130 2,448 887 162 498 50 964 1,278 565 1,108 33 408 S1 18,527 5,571 873 977 126 1,265 393 1,960 668 317 317 233 451 505 696 506 1,779 182 329 1,045 80 140 2,724 202 625 77 490 1,790 707 1,156 187 275 1,145 109 542 94 589 870 570 114 131 2,480 898 165 504 51 974 1,297 571 1,124 35 412 PIVO PIVOT 18,609 5,599 888 985 127 1,271 397 1,976 672 319 319 237 457 507 703 513 1,801 184 331 1,058 80 142 2,743 204 629 77 497 1,806 712 1,165 189 277 1,157 110 547 95 594 876 575 115 132 2,499 904 166 507 51 988 1,307 574 1,136 35 414 R1 18,736 5,642 898 994 129 1,280 403 1,994 676 324 321 243 464 511 710 517 1,814 186 333 1,074 81 145 2,769 206 635 78 508 1,830 721 1,172 191 278 1,172 111 553 96 601 885 584 116 134 2,531 915 169 513 52 998 1,327 580 1,152 36 418 R2 18,817 5,670 913 1,001 130 1,286 407 2,010 681 326 323 247 470 513 717 523 1,836 187 334 1,086 81 147 2,788 207 639 79 516 1,845 726 1,182 193 280 1,185 111 558 97 606 891 589 117 135 2,550 922 170 516 52 1,012 1,337 584 1,164 37 421

Technical Research Team

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Technical Research | July 20, 2011 Technical Report

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

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