Technical report - August 30, 2010
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The document provides a market summary for August 30, 2010 including indices levels, top gainers and losers, sectoral performance, and a technical analysis. Key points: - The Nifty and Sensex closed down 1.26% and 0.26% respectively near crucial support levels. - GAIL and ONGC were the top gainers while DLF and HEROHONDA lost the most. - The oil & gas sector gained while banking, IT, and realty declined. - Markets may see a bounce from current support levels but further upside is faced with resistance. Traders are advised to maintain strict stop losses.
Technical report - August 30, 2010
- 1. Technical Report Date : 30/08/2010 Market Summary Indices Top 5 Gainers Top 5 Losers Sectoral Watch Nifty Sensex Stocks % Gain Stocks % Loss Sector %G/L Open 5490 18206 GAIL 3.46 DLF 3.63 OIL & GAS 0.36 High 5495 18248 ONGC 1.95 HEROHONDA 3.46 PSU (0.32) Low 5392 17944 TATASTEEL 1.42 AXISBANK 3.42 IT (1.84) Close 5409 17998 BPCL 1.20 HCLTECH 3.36 BANKEX (2.07) % Chg (1.26) 0.26 STER 0.40 PNB 3.31 REALTY (2.67) Source : Falcon SENSEX DLY CHART After the sharp fall on the last day of the week, markets are near crucial support levels of 18000 – 17840 / 5400 - 5350. On the daily charts, the momentum oscillators are in oversold zone. Hence, a bounce from current levels cannot be ruled out. On the upside, immediate resistance is at 18290 / 5500 levels, and any move beyond 18290 / 5500 levels would warrant a further upside momentum to test 18900 – 19050 / 5700 – 5750 levels. We maintain our view that traders with long positions in the range of 5470 – 5400 levels should maintain a STRICT stop loss at 5340 level. Any close below this level would see a substantial fall in the markets. Stocks +ve Bias Stocks -ve Bias GAIL SUZLON 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 17998.00 17759.00 17879.00 18064.00 18183.00 18368.00 NIFTY 5409.00 5329.00 5369.00 5432.00 5472.00 5535.00 ABB 760.00 741.00 751.00 767.00 776.00 792.00 ACC 872.00 849.00 860.00 870.00 881.00 891.00 AMBUJACEM 121.00 117.00 119.00 121.00 122.00 124.00 AXISBANK 1327.00 1278.00 1303.00 1343.00 1367.00 1408.00 BHARTIARTL 316.00 309.00 313.00 319.00 322.00 328.00 BHEL 2472.00 2430.00 2451.00 2481.00 2502.00 2532.00 BPCL 776.00 727.00 752.00 777.00 801.00 826.00 CAIRN 335.00 330.00 333.00 337.00 339.00 344.00 CIPLA 303.00 297.00 300.00 305.00 308.00 313.00 DLF 307.00 297.00 302.00 310.00 315.00 323.00 GAIL 460.00 442.00 451.00 458.00 466.00 473.00 HCLTECH 403.00 392.00 398.00 406.00 412.00 420.00 HDFC 623.00 609.00 616.00 625.00 633.00 642.00 HDFCBANK 2139.00 2087.00 2113.00 2152.00 2178.00 2216.00 HEROHONDA 1786.00 1712.00 1749.00 1810.00 1846.00 1907.00 HINDALCO 164.00 159.00 162.00 165.00 167.00 170.00 HINDUNILVR 264.00 261.00 263.00 264.00 266.00 267.00 ICICIBANK 957.00 930.00 944.00 967.00 981.00 1004.00 IDEA 70.00 68.00 69.00 70.00 71.00 72.00 IDFC 182.00 177.00 179.00 183.00 185.00 188.00 INFOSYSTCH 2710.00 2640.00 2675.00 2716.00 2751.00 2793.00 ITC 161.00 157.00 159.00 162.00 164.00 167.00 JINDALSTEL 690.00 616.00 653.00 724.00 761.00 833.00 JPASSOCIAT 112.00 109.00 111.00 113.00 114.00 116.00 KOTAKBANK 838.00 824.00 831.00 839.00 846.00 854.00 LT 1840.00 1788.00 1814.00 1844.00 1870.00 1901.00 M&M 612.00 602.00 607.00 614.00 619.00 625.00 MARUTI 1219.00 1190.00 1204.00 1225.00 1239.00 1260.00 NTPC 196.00 192.00 194.00 197.00 199.00 202.00 ONGC 1318.00 1259.00 1289.00 1311.00 1341.00 1363.00 PNB 1194.00 1153.00 1173.00 1197.00 1217.00 1240.00 POWERGRID 104.00 102.00 103.00 105.00 106.00 108.00 RANBAXY 480.00 470.00 475.00 483.00 487.00 495.00 RCOM 160.00 157.00 159.00 161.00 163.00 165.00 RELCAPITAL 762.00 749.00 756.00 765.00 772.00 781.00 RELIANCE 950.00 938.00 944.00 952.00 958.00 967.00 RELINFRA 983.00 964.00 974.00 990.00 1000.00 1016.00 RPOWER 152.00 149.00 150.00 152.00 154.00 156.00 SAIL 185.00 181.00 183.00 186.00 188.00 190.00 SBIN 2794.00 2734.00 2764.00 2815.00 2845.00 2895.00 SIEMENS 714.00 693.00 704.00 715.00 725.00 736.00 STER 152.00 149.00 151.00 153.00 154.00 156.00 SUNPHARMA 1773.00 1743.00 1758.00 1770.00 1786.00 1798.00 SUZLON 48.00 47.00 47.00 48.00 49.00 49.00 TATAMOTORS 991.00 972.00 981.00 997.00 1006.00 1021.00 TATAPOWER 1238.00 1199.00 1219.00 1249.00 1269.00 1299.00 TATASTEEL 510.00 491.00 501.00 511.00 521.00 531.00 TCS 856.00 838.00 847.00 860.00 869.00 882.00 UNITECH 77.00 74.00 76.00 78.00 79.00 82.00 WIPRO 397.00 391.00 394.00 397.00 400.00 403.00 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.