The indices opened flat but traded choppily throughout the day. Metal, auto and realty stocks declined while IT stocks gained. The indices are currently trading in a range between 18,326-18,810/5496-5653 on the downside and 19,132-19,094/5740-5700 on the upside. A break above these resistance levels could lead to further gains while a break below support could result in losses extending to 17,805-17,950/5350-5400. Pivot levels for 50 Nifty stocks are provided.

1. Technical Research | July 18, 2011
Daily Technical Report
Sensex (18562) / NIFTY (5581)
Markets opened on a flat note and traded with extreme Exhibit 1: Nifty Daily Chart
choppiness throughout the trading sessions. On the sector
front, Metal, Auto and Realty were among the losers whereas
IT sector was on a gaining side. The advance decline ratio was
marginally in favor of Declining counters (A=1384 D=1472).
(Source - www.bseindia.com)
Formation
On the Weekly chart, the downward sloping trend line,
joining the two significant highs of 21109 & 20665 / 6339 & Source: Falcon
6181, remains a major resistance for the indices. This resistance
zone lies in the range of 19000 - 19132 / 5700 - 5740
Trading strategy:
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.
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2. Technical Research | July 18, 2011
Daily Pivot Levels For Nifty 50 Stocks
SCRIPS S2 S1 PIVOT
PIVO R1 R2
SENSEX 18,247 18,405 18,671 18,828 19,094
NIFTY 5,523 5,552 5,592 5,621 5,661
ABB 859 871 880 892 901
ACC 962 971 980 989 998
AMBUJACEM 123 125 126 128 129
AXISBANK 1,248 1,258 1,272 1,282 1,297
BHARTIARTL 387 390 394 397 401
BHEL 1,913 1,921 1,933 1,941 1,953
BPCL 663 668 672 677 681
CAIRN 311 313 316 318 321
CIPLA 318 321 326 329 333
DLF 225 229 234 239 244
GAIL 436 441 450 455 465
HCLTECH 487 492 496 501 504
HDFC 681 687 698 705 715
HDFCBANK 500 504 507 512 515
HEROHONDA 1,783 1,806 1,833 1,855 1,882
HINDALCO 174 175 178 179 182
HINDUNILVR 325 327 331 333 336
ICICIBANK 1,048 1,054 1,064 1,071 1,081
IDEA 80 81 81 82 82
IDFC 135 137 139 140 142
INFY 2,695 2,713 2,738 2,756 2,781
ITC 200 201 202 203 205
JINDALSTEL 620 626 631 637 642
JPASSOCIAT 75 76 77 77 78
KOTAKBANK 482 485 491 495 501
LT 1,789 1,806 1,818 1,835 1,847
M&M 701 711 717 728 734
MARUTI 1,152 1,165 1,175 1,188 1,198
NTPC 186 188 190 192 194
ONGC 273 276 280 283 288
PNB 1,126 1,133 1,143 1,150 1,161
POWERGRID 106 108 110 112 114
RANBAXY 536 540 546 551 557
RCOM 94 95 96 97 99
RELCAPITAL 578 586 594 602 610
RELIANCE 860 867 871 878 882
RELINFRA 556 563 573 579 589
RPOWER 111 113 115 117 119
SAIL 129 130 131 132 134
SBIN 2,446 2,460 2,480 2,494 2,514
SIEMENS 882 895 904 916 925
STER 160 162 164 165 168
SUNPHARMA 497 502 508 513 520
SUZLON 49 50 50 51 51
TATAMOTORS 1,009 1,021 1,041 1,054 1,074
TATAPOWER 1,239 1,251 1,265 1,276 1,291
TATASTEEL 562 568 574 580 587
TCS 1,118 1,132 1,155 1,169 1,192
UNITECH 33 33 34 35 36
WIPRO 407 411 414 418 421
Technical Research Team
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3. Technical Research | July 18, 2011
Technical Report
RESEARCH TEAM
Shardul Kulkarni Head - Technicals
Mileen Vasudeo Technical Analyst
Sameet Chavan Technical Analyst
Sacchitanand Uttekar Technical Analyst
Mehul Kothari Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to vasudeo.kamalakant@angeltrade.com
Research Team: 022-3952 6600 Website: www.angelbroking.com
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