Tech report 11.06.2010
0 likes109 views
The key points from the market summary document are: 1) Indian stock indices opened on a positive note and traded in a narrow range before picking up momentum later in the session to close near the day's highs. 2) The top five gainers were RELINFRA, HEROHONDA, TATAMOTOR, BHARTIARTL, and HINDALCO, while the top five losers were POWERGRID, PNB, and others. 3) In the coming sessions, if indices trade above certain resistance levels, they may test higher support levels, but support levels are also identified if indices trade lower.
Tech report 11.06.2010
- 1. Date : 11/06/2010 Market Summary Indices Top 5 Gainers Top 5 Losers Sectoral Watch Nifty Sensex Stocks % Gain Stocks % Loss Sector %G/L Open 5000 16669 RELINFRA 5.58 POWERGRID 0.63 AUTO 2.98 High 5085 16943 HEROHONDA 4.66 PNB 0.17 METAL 2.12 Low 4998 16669 TATAMOTOR 4.65 REALTY 1.80 Close 5079 16922 BHARTIARTL 4.65 TECK 1.76 % Chg 1.57 1.59 HINDALCO 4.55 HC 1.63 Source : Falcon NIFTY DLY CHART Markets opened on a positive note, traded in a narrow range and finally picked up momentum on the upside in the later half of the session to close near days high. In coming trading session if indices trade convincingly above 16943 / 5085 levels then it may test 17050 – 17120 / 5120 – 5140 levels. On the downside 16808 – 16767 / 5043 – 5031 levels may act support for the day. Stocks +ve Bias Stocks -ve Bias HINDALCO TATA STEEL The stocks mentioned above are given considering the general direction of the trend expected over a period of 2 or 3 days. Investors / Traders are expected to use their own discretion while taking any action related to the stock. For Private Circulation Only.
- 2. HDFC BANK View: BULLISH Buy Range : Rs. 1916.00 - 1905.00 Closing Price: Rs.1916.00 *Stop Loss: Rs.1885.00 *Target: Rs.1975.00 R:R. 1 : 2.5 The stock has given a Triangular breakout with rising volumes. Further, the momentum oscillator v.i.z. Stochastic and RSI are positively poised .This suggests upside .We recommend to buy the stock in the range of Rs. 1916.00 - 1905.00 with a stop loss of 1885.00 for a target ofRs.1975.00 in coming 6- 8 days * Stop Losses, Targets and Time Frame are indicative and readers should use their discretion in following the same. Stop Losses / Trailed Stop Losses should be strictly implemented in order to protect profits / reduce losses. Non adherence to the same can lead to bigger losses at times. For Private Circulation Only.
- 3. PIVOTS Stocks Close S2 S1 Pivot R1 R2 SENSEX 16922.00 16571.00 16746.00 16845.00 17020.00 17118.00 NIFTY 5079.00 4966.00 5022.00 5054.00 5110.00 5141.00 ABB 858.00 853.00 856.00 858.00 860.00 863.00 ACC 869.00 836.00 852.00 863.00 879.00 890.00 AMBUJACEM 116.00 113.00 114.00 116.00 117.00 118.00 AXISBANK 1248.00 1210.00 1229.00 1239.00 1259.00 1269.00 BHARTIARTL 285.00 265.00 275.00 281.00 291.00 297.00 BHEL 2325.00 2276.00 2301.00 2320.00 2345.00 2364.00 BPCL 551.00 540.00 546.00 552.00 557.00 563.00 CAIRN 297.00 289.00 293.00 295.00 300.00 302.00 CIPLA 335.00 319.00 327.00 332.00 340.00 345.00 DLF 263.00 254.00 258.00 261.00 266.00 268.00 GAIL 456.00 451.00 454.00 456.00 459.00 462.00 HCLTECH 367.00 357.00 362.00 365.00 370.00 373.00 HDFC 2750.00 2689.00 2719.00 2737.00 2768.00 2786.00 HDFCBANK 1916.00 1841.00 1879.00 1900.00 1938.00 1959.00 HEROHONDA 2006.00 1887.00 1947.00 1979.00 2038.00 2071.00 HINDALCO 139.00 130.00 134.00 137.00 141.00 143.00 HINDUNILVR 252.00 245.00 249.00 251.00 254.00 256.00 ICICIBANK 829.00 806.00 817.00 826.00 838.00 846.00 IDEA 55.00 53.00 54.00 55.00 56.00 57.00 IDFC 166.00 162.00 164.00 165.00 167.00 169.00 INFOSYSTCH 2646.00 2607.00 2626.00 2640.00 2660.00 2673.00 ITC 280.00 272.00 276.00 279.00 283.00 286.00 JINDALSTEL 629.00 607.00 618.00 625.00 636.00 643.00 JPASSOCIAT 122.00 117.00 120.00 121.00 123.00 125.00 KOTAKBANK 744.00 727.00 736.00 741.00 750.00 755.00 LT 1672.00 1637.00 1655.00 1665.00 1683.00 1693.00 M&M 593.00 568.00 581.00 590.00 602.00 612.00 MARUTI 1346.00 1277.00 1312.00 1331.00 1365.00 1384.00 NTPC 200.00 198.00 199.00 200.00 201.00 201.00 ONGC 1189.00 1165.00 1177.00 1191.00 1203.00 1217.00 PNB 1019.00 1000.00 1009.00 1020.00 1029.00 1039.00 POWERGRID 102.00 100.00 101.00 102.00 103.00 105.00 RANBAXY 425.00 412.00 419.00 422.00 428.00 432.00 RCOM 174.00 166.00 170.00 173.00 177.00 179.00 RELCAPITAL 682.00 657.00 669.00 678.00 690.00 699.00 RELIANCE 1015.00 1003.00 1009.00 1013.00 1019.00 1024.00 RELINFRA 1122.00 1050.00 1086.00 1108.00 1144.00 1166.00 RPOWER 157.00 151.00 154.00 156.00 158.00 160.00 SAIL 198.00 188.00 193.00 196.00 201.00 204.00 SBIN 2327.00 2238.00 2283.00 2310.00 2355.00 2382.00 SIEMENS 699.00 676.00 688.00 694.00 705.00 711.00 STER 642.00 617.00 629.00 637.00 649.00 657.00 SUNPHARMA 1702.00 1675.00 1689.00 1699.00 1713.00 1724.00 SUZLON 54.00 51.00 53.00 53.00 55.00 56.00 TATAMOTORS 759.00 718.00 739.00 751.00 771.00 783.00 TATAPOWER 1230.00 1201.00 1215.00 1224.00 1239.00 1248.00 TATASTEEL 471.00 452.00 462.00 468.00 477.00 483.00 TCS 751.00 722.00 736.00 745.00 759.00 768.00 UNITECH 71.00 67.00 69.00 70.00 72.00 73.00 WIPRO 643.00 618.00 630.00 638.00 650.00 658.00 For Private Circulation Only.
- 4. RESEARCH TEAM Shardul Kulkarni Head - Technicals Brijesh Ail Technical Analyst Mileen Vasudeo Technical Analyst For any Queries, Suggestions and Feedback kindly mail to vasudeo.kamalakant@angeltrade.com Research Team: 022-3952 6600 Website: www.angelbroking.com DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed is our current opinion as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true and are for general guidance only. While every effort is made to ensure the accuracy and completeness of information contained, the company takes no guarantee and assumes no liability for any errors or omissions of the information. No one can use the information as the basis for any claim, demand or cause of action. Recipients of this material should rely on their own investigations and take their own professional advice. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions - futures, options and other derivatives as well as non-investment grade securities - involve substantial risks and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a company's fundamentals and as such, may not match with a report on a company's fundamentals. We do not undertake to advise you as to any change of our views expressed in this document. While we would endeavor to update the information herein on a reasonable basis, Angel Broking, its subsidiaries and associated companies, their directors and employees are under no obligation to update or keep the information current. Also there may be regulatory, compliance, or other reasons that may prevent Angel Broking and affiliates from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Angel Broking Limited and affiliates, including the analyst who has issued this report, may, on the date of this report, and from time to time, have long or short positions in, and buy or sell the securities of the companies mentioned herein or engage in any other transaction involving such securities and earn brokerage or compensation or act as advisor or have other potential conflict of interest with respect to company/ies mentioned herein or inconsistent with any recommendation and related information and opinions. Angel Broking Limited and affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Sebi Registration No : INB 010996539 For Private Circulation Only.