The document provides a technical analysis of the Indian stock market indices Sensex and Nifty for the week of July 16, 2011. It summarizes that the indices declined over 1.5% for the week and are currently trading in a range between 18,326/5496 on the downside and 19,132/5740 on the upside. It notes that a break above or below this range would dictate the direction of the upcoming trend. The analysis also lists pivot levels for 50 Nifty stocks to watch in the coming week.

1. Technical Picks | July 16, 2011
Markets stuck in a range
Sensex (18562) / Nifty (5581)
In our previous Weekly report, we had mentioned that Exhibit 1: Nifty weekly chart
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 Source: Falcon
On the Weekly 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.
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

2. Technical Picks | July 16, 2011
Weekly Pivot Levels For Nifty 50 Stocks
SCRIPS R2 R1 PIVOT
PIVO S1 S2
SENSEX 19,218 18,890 18,608 18,280 17,998
NIFTY 5,734 5,658 5,577 5,501 5,420
BANKNIFTY 11,631 11,433 11,187 10,989 10,743
ABB 918 901 877 860 836
ACC 1,020 1,000 969 949 918
AMBUJACEM 133 129 125 122 117
AXISBANK 1,334 1,301 1,273 1,240 1,212
BHARTIARTL 407 400 393 386 378
BHEL 2,006 1,968 1,941 1,903 1,876
BPCL 687 680 670 663 653
CAIRN 330 323 316 309 302
CIPLA 342 333 326 317 309
DLF 252 243 230 221 208
GAIL 476 461 453 438 430
HCLTECH 520 509 496 485 472
HDFC 729 711 697 680 666
HDFCBANK 526 517 505 496 484
HEROHONDA 1,969 1,899 1,854 1,784 1,740
HINDALCO 192 184 179 172 167
HINDUNILVR 339 334 331 327 324
ICICIBANK 1,107 1,084 1,061 1,037 1,014
IDEA 84 83 80 79 76
IDFC 147 143 136 132 125
INFOSYSTCH 3,065 2,898 2,809 2,642 2,553
ITC 207 204 202 200 198
JINDALSTEL 665 649 630 614 596
JPASSOCIAT 82 79 77 75 73
KOTAKBANK 519 504 487 472 455
LT 1,895 1,859 1,813 1,778 1,732
M&M 753 737 719 703 684
MARUTI 1,217 1,197 1,169 1,149 1,121
NTPC 197 194 188 185 179
ONGC 295 287 281 273 267
PNB 1,190 1,165 1,135 1,110 1,081
POWERGRID 115 113 110 107 104
RANBAXY 572 558 549 535 526
RCOM 102 99 97 94 92
RELCAPITAL 622 608 589 574 555
RELIANCE 898 886 866 853 833
RELINFRA 601 585 573 557 544
RPOWER 122 118 116 112 110
SAIL 140 135 132 128 125
SBIN 2,567 2,521 2,453 2,407 2,338
SIEMENS 948 928 909 889 870
STER 172 168 164 159 156
SUNPHARMA 531 519 507 495 483
SUZLON 54 52 50 48 47
TATAMOTORS 1,116 1,075 1,040 998 963
TATAPOWER 1,329 1,296 1,274 1,241 1,220
TATASTEEL 606 590 579 563 552
TCS 1,211 1,179 1,145 1,113 1,080
UNITECH 39 36 34 32 30
WIPRO 439 427 417 405 396
Technical Research Team
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