Tech report 12.05.2010
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The market indices closed in the red, with the Nifty down 1.11% and Sensex down 1.09%. Metals and realty sectors saw the highest losses of around 2.5%. The market undertone remained sideways with a negative bias. Stocks like M&M, Axis Bank, HDFC Bank saw gains while Idea, Reliance Infra, and Tata Steel saw losses. The technical outlook indicates the indices need to trade above 17375/5215 levels to confirm an upside momentum. Idea Cellular is recommended for a bearish sell with a target price of Rs. 54 and stop loss of Rs. 64.
Tech report 12.05.2010
- 1. Date : 12/05/2010 Market Summary Indices Top 5 Gainers Top 5 Losers Sectoral Watch Nifty Sensex Stocks % Gain Stocks % Loss Sector %G/L Open 5190 17336 M&M 1.33 IDEA 5.24 METAL (2.57) High 5207 17379 AXISBANK 0.76 RELINFRA 4.98 REALTY (2.43) Low 5127 17104 HDFCBANK 0.73 RCOM 4.83 HC (1.59) Close 5136 17142 ACC 0.36 HINDALCO 3.76 POWER (1.59) % Chg (1.11) (1.09) HEROHONDA 0.29 TATASTEEL 3.65 TECK (1.40) Source : Falcon SENSEX DLY CHART Markets opened flat and traded with negative bias through out the day which led the indices to close in red. The undertone still remains sideways with negative bias, and momentum on the upside would be confirmed only when indices trade above 17375 / 5215 levels. Any move beyond 17375 / 5215 levels may led indices to test may test 17460 – 17647 / 5250 – 5295. On the down side 17032 – 16950 / 5091 – 5063 levels may act as support for the day. Stocks +ve Bias Stocks -ve Bias PETRONET LNG BHUSHAN STEEL UNIPHOS JINDAL SAW AREVA T & D 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. IDEA CELLULAR View: BEARISH Selling Range : Rs.59.85 - Rs. 62.00 Closing Price: Rs.59.85 *Stop Loss: Rs.64.00 *Target: Rs.54.00 R:R. 1 : 2.5 The stock has given a trendline breakdown with rising volumes.This suggests further downside momentum in this stock. We recommend selling this stock for target of Rs.54.00 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 17142.00 16934.00 17038.00 17208.00 17312.00 17483.00 NIFTY 5136.00 5076.00 5106.00 5156.00 5186.00 5237.00 ABB 686.00 671.00 678.00 690.00 697.00 708.00 ACC 886.00 863.00 875.00 887.00 898.00 911.00 AMBUJACEM 111.00 108.00 110.00 112.00 114.00 116.00 AXISBANK 1259.00 1226.00 1243.00 1261.00 1277.00 1295.00 BHARTIARTL 285.00 277.00 281.00 288.00 291.00 298.00 BHEL 2399.00 2331.00 2365.00 2421.00 2455.00 2511.00 BPCL 542.00 531.00 536.00 541.00 547.00 552.00 CAIRN 298.00 291.00 294.00 299.00 303.00 308.00 CIPLA 314.00 304.00 309.00 317.00 322.00 329.00 DLF 295.00 284.00 289.00 298.00 304.00 313.00 GAIL 425.00 411.00 418.00 429.00 437.00 448.00 HCLTECH 388.00 371.00 379.00 395.00 403.00 419.00 HDFC 2773.00 2728.00 2751.00 2775.00 2798.00 2822.00 HDFCBANK 1948.00 1897.00 1923.00 1939.00 1964.00 1981.00 HEROHONDA 1899.00 1867.00 1883.00 1901.00 1918.00 1936.00 HINDALCO 170.00 163.00 166.00 172.00 176.00 182.00 HINDUNILVR 237.00 232.00 234.00 236.00 238.00 240.00 ICICIBANK 917.00 894.00 905.00 920.00 931.00 946.00 IDEA 60.00 57.00 58.00 61.00 63.00 65.00 IDFC 159.00 155.00 157.00 160.00 162.00 165.00 INFOSYSTCH 2661.00 2619.00 2640.00 2657.00 2678.00 2696.00 ITC 260.00 254.00 257.00 260.00 263.00 266.00 JINDALSTEL 673.00 654.00 664.00 679.00 689.00 704.00 JPASSOCIAT 134.00 130.00 132.00 135.00 136.00 139.00 KOTAKBANK 746.00 724.00 735.00 753.00 765.00 783.00 LT 1544.00 1523.00 1534.00 1547.00 1557.00 1571.00 M&M 564.00 544.00 554.00 561.00 571.00 578.00 MARUTI 1268.00 1243.00 1255.00 1278.00 1290.00 1313.00 NTPC 205.00 202.00 203.00 205.00 206.00 208.00 ONGC 1030.00 1005.00 1017.00 1033.00 1046.00 1062.00 PNB 1018.00 998.00 1008.00 1017.00 1027.00 1035.00 POWERGRID 107.00 105.00 106.00 107.00 108.00 110.00 RANBAXY 458.00 439.00 449.00 459.00 469.00 480.00 RCOM 147.00 140.00 143.00 150.00 153.00 160.00 RELCAPITAL 703.00 687.00 695.00 709.00 717.00 731.00 RELIANCE 1068.00 1048.00 1058.00 1073.00 1083.00 1099.00 RELINFRA 1011.00 967.00 989.00 1029.00 1051.00 1091.00 RPOWER 145.00 139.00 142.00 146.00 149.00 154.00 SAIL 212.00 205.00 209.00 215.00 219.00 225.00 SBIN 2288.00 2245.00 2266.00 2303.00 2324.00 2360.00 SIEMENS 679.00 656.00 667.00 687.00 698.00 717.00 STER 734.00 712.00 723.00 742.00 753.00 772.00 SUNPHARMA 1538.00 1514.00 1526.00 1546.00 1558.00 1578.00 SUZLON 68.00 66.00 67.00 69.00 70.00 71.00 TATAMOTORS 800.00 778.00 789.00 804.00 815.00 830.00 TATAPOWER 1332.00 1291.00 1311.00 1330.00 1350.00 1369.00 TATASTEEL 582.00 560.00 571.00 590.00 601.00 620.00 TCS 756.00 738.00 747.00 763.00 772.00 788.00 UNITECH 77.00 74.00 76.00 78.00 79.00 81.00 WIPRO 668.00 648.00 658.00 667.00 677.00 686.00 For Private Circulation Only.
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