Tech report 18 10 2010
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The document provides a market summary for October 18, 2010 including indices performance, top gainers and losers, and sectoral performance. It also analyzes the short-term technical outlook for the market indices, expecting a time or price-wise correction if support levels are broken, with potential downside targets. Key support and resistance levels are given for several stocks to watch over the next 2-3 days.
Tech report 18 10 2010
- 1. Technical Report Date : 18/10/2010 Market Summary Indices Top 5 Gainers Top 5 Losers Sectoral Watch Nifty Sensex Stocks % Gain Stocks % Loss Sector %G/L Open 6176 20519 DRREDDY 0.70 BPCL 4.31 IT (3.25) High 6201 20578 NTPC 0.57 WIPRO 3.97 TECK (3.01) Low 6050 20090 CAIRN 0.12 TCS 3.76 AUTO (2.00) Close 6063 20125 AXISBANK 3.76 BANKEX (1.91) % Chg (1.86) (1.82) BHARTIARTL 3.49 METAL (1.48) Source : Falcon SENSEX DLY CHART The coming week is likely to witness a Time or Price-wise correction. On the Daily chart, if the prices hold the 20- days EMA (20087 / 6045), there is a possibility that the high of the “Shooting Star” (20854 / 6284) could be tested. In this case, we may witness sideways Time-wise correction/consolidation. On the other side, if the prices breach and close below 20-days EMA (20087 / 6045 level) we may witness a price wise correction. In such a scenario, the indices may test the Fibonacci retracement levels of 19693 – 19328 / 5925 – 5814 of the entire up- move which started from 17819 to 20854 / 5348 to 6284 levels. Traders should keep in mind that the expected Time/Price-wise correction is a part of an uptrend and is healthy for the market in the longer run. Stocks +ve Bias Stocks -ve Bias ACC 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. Technical Report PIVOTS Stocks Close S2 S1 Pivot R1 R2 SENSEX 20125.00 19776.00 19951.00 20265.00 20439.00 20753.00 NIFTY 6063.00 5954.00 6008.00 6105.00 6159.00 6255.00 ABB 913.00 896.00 904.00 918.00 926.00 940.00 ACC 996.00 971.00 984.00 1005.00 1018.00 1039.00 AMBUJACEM 139.00 135.00 137.00 140.00 142.00 145.00 AXISBANK 1502.00 1445.00 1474.00 1524.00 1553.00 1603.00 BHARTIARTL 334.00 320.00 327.00 337.00 344.00 354.00 BHEL 2525.00 2470.00 2498.00 2533.00 2561.00 2596.00 BPCL 695.00 665.00 680.00 704.00 719.00 743.00 CAIRN 338.00 334.00 336.00 338.00 340.00 343.00 CIPLA 332.00 326.00 329.00 333.00 336.00 340.00 DLF 374.00 359.00 367.00 377.00 384.00 395.00 GAIL 500.00 485.00 493.00 499.00 506.00 513.00 HCLTECH 431.00 418.00 425.00 437.00 443.00 455.00 HDFC 727.00 714.00 720.00 732.00 738.00 750.00 HDFCBANK 2386.00 2340.00 2363.00 2403.00 2426.00 2466.00 HEROHONDA 1790.00 1716.00 1753.00 1814.00 1851.00 1912.00 HINDALCO 213.00 208.00 210.00 214.00 216.00 220.00 HINDUNILVR 299.00 291.00 295.00 301.00 305.00 311.00 ICICIBANK 1125.00 1104.00 1114.00 1129.00 1139.00 1153.00 IDEA 72.00 71.00 72.00 73.00 74.00 75.00 IDFC 205.00 201.00 203.00 207.00 209.00 212.00 INFOSYSTCH 3076.00 2948.00 3012.00 3125.00 3189.00 3302.00 ITC 172.00 168.00 170.00 173.00 175.00 178.00 JINDALSTEL 711.00 699.00 705.00 714.00 719.00 728.00 JPASSOCIAT 131.00 127.00 129.00 132.00 133.00 136.00 KOTAKBANK 509.00 501.00 505.00 511.00 514.00 520.00 LT 1989.00 1949.00 1969.00 1997.00 2017.00 2045.00 M&M 711.00 693.00 702.00 714.00 723.00 735.00 MARUTI 1519.00 1442.00 1480.00 1520.00 1559.00 1599.00 NTPC 204.00 201.00 203.00 204.00 206.00 207.00 ONGC 1340.00 1309.00 1325.00 1347.00 1363.00 1386.00 PNB 1305.00 1273.00 1289.00 1314.00 1330.00 1355.00 POWERGRID 107.00 104.00 105.00 107.00 108.00 110.00 RANBAXY 583.00 564.00 573.00 589.00 598.00 614.00 RCOM 176.00 167.00 171.00 179.00 184.00 191.00 RELCAPITAL 837.00 816.00 826.00 842.00 853.00 868.00 RELIANCE 1040.00 1016.00 1028.00 1048.00 1060.00 1080.00 RELINFRA 1066.00 1045.00 1056.00 1071.00 1082.00 1098.00 RPOWER 160.00 157.00 159.00 161.00 163.00 166.00 SAIL 220.00 215.00 217.00 222.00 224.00 229.00 SBIN 3166.00 3068.00 3117.00 3199.00 3248.00 3330.00 SIEMENS 819.00 800.00 809.00 821.00 831.00 842.00 STER 178.00 174.00 176.00 180.00 182.00 186.00 SUNPHARMA 2040.00 1991.00 2015.00 2058.00 2082.00 2124.00 SUZLON 58.00 56.00 57.00 58.00 59.00 60.00 TATAMOTORS 1156.00 1126.00 1141.00 1166.00 1180.00 1205.00 TATAPOWER 1430.00 1389.00 1410.00 1430.00 1451.00 1471.00 TATASTEEL 636.00 614.00 625.00 642.00 653.00 669.00 TCS 950.00 903.00 927.00 969.00 993.00 1035.00 UNITECH 94.00 92.00 93.00 95.00 96.00 98.00 WIPRO 473.00 451.00 462.00 481.00 492.00 511.00 For Private Circulation Only.
- 3. Technical Report 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.