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Global Research Limited

NIFTY50

WEEKLY REPORT
04th July - 08th July 2011

Global Research Limited

ACC
Weekly Pivots
STOCK
ACC

R2
983.9

R1
969.55

PP
955.55

S1
941.2

S2
927.2

Technical Overview
The stock had an either side movement this week. One could go for sell on rise strategy in the stock until it breaches the level of 980 in upside as it is expected to continue its correction.

Technical Picture

Figure: 1 : Nifty50 Graph

RESISTANCE

SUPPORT

980

939

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Global Research Limited

Ambuja Cements
Weekly Pivots
STOCK
AMBUJACEM

R2
1 37.65

R1
1 33.55

PP
130 .8

S1
126 .7

S2
1 23.95

Technical Overview
The stock has successfully taken support at lower levels and had an up rally previously, while it consolidated throughout this week with negative biasness. Its next support is at 126, breach of this level may take the stock further downwards.

Technical Picture

Figure: 2 : Nifty50 Graph

RESISTANCE

SUPPORT

135

126

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Axis Bank
Weekly Pivots
STOCK
AXISBANK

R2
1327.72

R1
1318.43

PP
1305.72

S1
1296.43

S2
1283.72

Technical Overview
The stock consolidated this week as expected after a continuous up rally. One could go for buying on dip strategy in the stock as it is expected to continue its bullish trend.

Technical Picture

Figure: 3 : Nifty50 Graph

RESISTANCE

SUPPORT

1325

1280

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Global Research Limited

Bajaj Auto Ltd.


Weekly Pivots
STOCK
BAJAJ-AUTO

R2
1456.12

R1
1439.63

PP
1422.32

S1
1405.83

S2
1388.52

Technical Overview
The stock is currently moving in a sideways trend. One should now wait for crossing of either side in the stock.

Technical Picture

Figure: 4 : Nifty50 Graph

RESISTANCE

SUPPORT

1450

1350

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Global Research Limited

Bharat Heavy Electrical


Weekly Pivots
STOCK
BHEL

R2
2082.12

R1
2066.23

PP
2054.12

S1
2038.23

S2
2026.12

Technical Overview
The stock had successfully taken support at major lower support levels and is now moving in a up rally. One could hold the long positions in the stock as it is expected to continue its uptrend and may move till the levels of 2070-2080 in upside.

Technical Picture

Figure: 5 : Nifty50 Graph

RESISTANCE

SUPPORT

2070

2009

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Global Research Limited

Bharat Petroleum Corporation


Weekly Pivots
STOCK
BPCL

R2
655.68

R1
650.42

PP
645.73

S1
640.47

S2
635.78

Technical Overview
The stock is very volatile in terms of price movements. One should now wait for sometime in the stock .

Technical Picture

Figure: 6 : Nifty50 Graph

RESISTANCE

SUPPORT

658

630

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Global Research Limited

Bharti Airtel
Weekly Pivots
STOCK
BHARTIART L

R2
400.92

R1
392.18

PP
387.27

S1
378.53

S2
373.62

Technical Overview
The stock has moved in bullish trend throughout last week and had an up rally previously. It also managed to resist at higher levels and had a correction rally. It has next support at 375, breach of this level will take the stock further downwards.

Technical Picture

Figure: 7 : Nifty50 Graph

RESISTANCE

SUPPORT

395

375

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Global Research Limited

Cipla
Weekly Pivots
STOCK
CIPLA

R2
334.13

R1
330.52

PP
327.88

S1
324.27

S2
321.63

Technical Overview
The stock is consolidating currently. The stock now faces resistance at 337 while has support at 322 one should now wait for crossing of levels on either side.

Technical Picture

Figure: 8 : Nifty50 Graph

RESISTANCE

SUPPORT

337

322

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Global Research Limited

Cairn India
Weekly Pivots
STOCK
CAIRN

R2
342.83

R1
334.32

PP
319.33

S1
310.82

S2
295.83

Technical Overview
The stock consolidated this week and had a steep rise in today's trading session. One could hold the long positions in the stock as it is expected to continue its bullish trend and may move till the levels of 335-340 in coming trading sessions.

Technical Picture

Figure: 9 : Nifty50 Graph

RESISTANCE

SUPPORT

320

295

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Global Research Limited

DLF
Weekly Pivots
STOCK
DLF

R2
226.3

R1
223.3

PP
218

S1
215

S2
209.7

Technical Overview
The stock had an either side movement this week. it has next resistance at 222, crossing of thie level may take the stock further upwards.

Technical Picture

Figure: 10 : Nifty50 Graph

RESISTANCE

SUPPORT

222

210

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Global Research Limited

Dr. Reddy Laboratories


Weekly Pivots
STOCK
DRREDDY

R2
1591.83

R1
1559.37

PP
1537.43

S1
1504.97

S2
1483.03

Technical Overview
The stock was trading sideways during the week and ended on a negative note. The trend presently in the stock is weak. The stock is now facing resistance at 1580 which is the 50 day moving average of the stock and has support at 1500. As the stock closed on negative note a further down movement can be seen in the stock once it breaks its support level.

Technical Picture

Figure: 11 : Nifty50 Graph

RESISTANCE

SUPPORT

1580

1500

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Gail India
Weekly Pivots
STOCK
GAIL

R2
459.12

R1
454.93

PP
449.27

S1
445.08

S2
439.42

Technical Overview
The stock opened gap up during the week and then moved down during the later trading session of the week and closed with positive biasness. The major trend presently in the stock is sideways. The stock is now facing resistance at 460 and has support at 434. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.
Technical Picture

Figure: 12 : Nifty50 Graph

RESISTANCE

SUPPORT

460

434

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Global Research Limited

HCL Technologies
Weekly Pivots
STOCK
HCLT ECH

R2
506.73

R1
501.47

PP
498.23

S1
492.97

S2
489.73

Technical Overview
The stock showed an up movement during the week and marked a high of 503 during the week and closed on a positive note. The stock is now facing resistance at 510 and has support at 484 which is the 10 day moving average of the stock. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.
Technical Picture

Figure: 13 : Nifty50 Graph

RESISTANCE

SUPPORT

510

484

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Global Research Limited

HDFC Bank
Weekly Pivots
STOCK
HD FCBA NK

R2
2578.55

R1
2539.9

PP
2508.95

S1
2470.3

S2
2439.35

Technical Overview
The stock showed a continuous up movement during the week and on the last day of trading week it showed some profit booking and closed with negative biasness. The stock is now facing resistance at 2550 and has support at 2430. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level.

Technical Picture

Figure: 14 : Nifty50 Graph

RESISTANCE

SUPPORT

2550

2430

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Global Research Limited

Housing Development Finance


Weekly Pivots
STOCK
HDFC

R2
716.23

R1
709.77

PP
705.53

S1
699.07

S2
694.83

Technical Overview
The stock showed a continuous up movement during the week and on the last day of trading week it showed some profit booking and closed with negative biasness. The stock is now facing resistance at 715 and has support at 693. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level.

Technical Picture

Figure: 15 : Nifty50 Graph

RESISTANCE

SUPPORT

715

693

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Global Research Limited

Hero Honda Motors


Weekly Pivots
STOCK
HEROHONDA

R2
191 6.27

R1
190 7.73

PP
189 5.37

S1
188 6.83

S2
187 4.47

Technical Overview
The stock was consolidating during the week and on the last day of trading it showed an up move and marked a high of 1903. The major trend presently in the stock is sideways. The stock is now facing resistance at 1950 and has support at 1833 which is the 10 day moving average of the stock. As the stock closed on a positive note a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.
Technical Picture

Figure: 16 : Nifty50 Graph

RESISTANCE

SUPPORT

1950

1833

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Global Research Limited

Hindalco Industries
Weekly Pivots
STOCK
HINDALCO

R2
191.4

R1
189.2

PP
185.7

S1
183.5

S2
180

Technical Overview
The stock showed a continuous up move during the week and marked a high of 188. The stock is now facing resistance at 190 and has support at 180. As the stock closed on a positive note a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.

Technical Picture

Figure: 17 : Nifty50 Graph

RESISTANCE

SUPPORT

190

180

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Global Research Limited

Hindustan Unilever
Weekly Pivots
STOCK
HINDUNILVR

R2
346.45

R1
341.6

PP
338.65

S1
333.8

S2
330.85

Technical Overview
The stock showed a continuous up move during the week and on the last day of the week it showed some profit booking and closed with negative biasness. The stock was at its all time high during the week and marked a high of 348. The stock is now facing resistance at 348 and has support at 330. As the stock ended on negative note a further down movement can be seen in the stock once it breaks its support level.
Technical Picture

Figure: 18 : Nifty50 Graph

RESISTANCE

SUPPORT

348

330

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Global Research Limited

ICICI Bank
Weekly Pivots
STOCK
ICICIBANK

R2
1121.35

R1
1108.1

PP
1098.1

S1
1084.85

S2
1074.85

Technical Overview
The stock showed a continuous up move during the week and marked a high of 1111. The stock is now facing resistance at 1120 and has support at 1080. Break of resistance may take the stock up. One may go for buying the stock once it breaks its resistance level.

Technical Picture

Figure: 19 : Nifty50 Graph

RESISTANCE

SUPPORT

1120

1080

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Global Research Limited

IDFC
Weekly Pivots
STOCK
IDFC

R2
138.08

R1
136.57

PP
134.28

S1
132.77

S2
130.48

Technical Overview
IDFC showed positive side movements all through the last week, it made weekly high of 135.80 and closed with the gain of 8.3%. The stock now has resistance level at 138 and support level at 129. In short term it is expected to consolidated with positive biasness and crossing of resistance level may take the stock to the higher levels.

Technical Picture

Figure: 20 : Nifty50 Graph

RESISTANCE

SUPPORT

138

129

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Global Research Limited

Infosys Technologies
Weekly Pivots
STOCK
INFOSYS TCH

R2
2988.58

R1
2961.37

PP
2942.73

S1
2915.52

S2
2896.88

Technical Overview
INFOSYS moved with the positive biasness during last week and made weekly high of 2969.95. The stock has resistance level at 3000 and support level at 2880. It is expected to consolidate and remain range bound in short term.

Technical Picture

Figure: 21 : Nifty50 Graph

RESISTANCE

SUPPORT

3000

2880

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Global Research Limited

ITC
Weekly Pivots
STOCK
ITC

R2
209.12

R1
205.33

PP
202.72

S1
198.93

S2
196.32

Technical Overview
ITC had volatile trading session last week and it closed with overall gain. The stock may take resistance from the level of 197 and it has support level at 186. In short term it is expected to consolidate with positive biasness and crossing of resistance level may take it to the higher levels.

Technical Picture

Figure: 22 : Nifty50 Graph

RESISTANCE

SUPPORT

208

196

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Global Research Limited

Jaiprakash Associates
Weekly Pivots
STOCK
JPASSOCIAT

R2
84.12

R1
82.73

PP
81.22

S1
79.83

S2
78.32

Technical Overview
JP ASSOCIATES had sideways movements during last week and it moved in small range. The stock has resistance level at 83 and support level at 79. In short term it is expected to consolidate and remain range bound.

Technical Picture

Figure: 23 : Nifty50 Graph

RESISTANCE

SUPPORT

83

79

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Global Research Limited

Jindal Steel & Power


Weekly Pivots
STOCK
JINDALSTEL

R2
663.52

R1
657.13

PP
651.07

S1
644.68

S2
638.62

Technical Overview
JINDAL STEEL AND POWER had volatile trading session last week and it closed with overall gain. The stock has resistance level at 663 and support level at 625. It is expected to consolidate and remain range bound; also crossing of resistance level may take the stock at higher levels.

Technical Picture

Figure: 24 : Nifty50 Graph

RESISTANCE

SUPPORT

663

625

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Global Research Limited

Larsen and Turbo


Weekly Pivots
STOCK
LT

R2
1866.37

R1
1836.93

PP
1819.57

S1
1790.13

S2
1772.77

Technical Overview
L&T had upside movement in the last week and made weekly high of 1849. The stock has resistance level at 1877 and support level at 1775. In short term it is expected to remain range bound.

Technical Picture

Figure: 25 : Nifty50 Graph

RESISTANCE

SUPPORT

1877

1775

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Global Research Limited

Kotak Mahindra Bank


Weekly Pivots
STOCK
KOTAKBANK

R2
48 8.7

R1
481.05

PP
476.35

S1
46 8.7

S2
464

Technical Overview
KOTAK MAHINDRA BANK showed upside movements all through last week and made weekly high of 484. The stock has support level at 452 and resistance level at 491. It is expected consolidate and remain range bound in short term.

Technical Picture

Figure: 26 : Nifty50 Graph

RESISTANCE

SUPPORT

491

452

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Global Research Limited

Mahindra and Mahindra


Weekly Pivots
STOCK
M&M

R2
720.77

R1
706.28

PP
697.32

S1
682.83

S2
673.87

Technical Overview
M&M showed sideways movement all through last week and closed with overall gain. The stock has support level at 680 and resistance level at 713. It is expected to consolidate with negative biasness in the short term.

Technical Picture

Figure: 27 : Nifty50 Graph

RESISTANCE

SUPPORT

713

680

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Global Research Limited

Maruti Suzuki India


Weekly Pivots
STOCK
MARUTI

R2
1167.72

R1
1155.43

PP
1142.72

S1
1130.43

S2
1117.72

Technical Overview
MARUTI volatile trading session last week and it closed with overall gain. The stock has resistance level at 1190 and support level at 1125. In short term it is expected to consolidate and remain range bound.

Technical Picture

Figure: 28 : Nifty50 Graph

RESISTANCE

SUPPORT

1190

1125

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Global Research Limited

NTPC Ltd.
Weekly Pivots
STOCK
NTPC

R2
191.1

R1
188.95

PP
186.85

S1
184.7

S2
182.6

Technical Overview
NTPC had positive side movement last week and it made weekly high of 189. The stock has support level at 183 and resistance level at 191. In short term it is expected to consolidate and remain range bound. Also crossing of resistance level may take it to higher levels.

Technical Picture

Figure: 29 : Nifty50 Graph

RESISTANCE

SUPPORT

191

183

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Global Research Limited

Oil and Natural Gas Corp


Weekly Pivots
STOCK
ONGC

R2
296.65

R1
286.5

PP
280.75

S1
270.6

S2
264.85

Technical Overview
After a high of 297.50 ONGC has corrected and made a low of 273.65, from this level it made a smart recovery and a high of 290.90. The stock has a resistance level of 298 and support at 269 .It is looking bearish in the coming trading session; one can go for short position in it at 272 for the target of 250.

Technical Picture

277

Figure: 30 : Nifty50 Graph

RESISTANCE

SUPPORT

298

272

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Global Research Limited

Power Grid Corporation of India


Weekly Pivots
STOCK
POWERGRID

R2
111.48

R1
110.87

PP
110.13

S1
109.52

S2
108.78

Technical Overview
The stock has touched its peak high of 111.15; from this level further upside of movement would be expected. In today's trading session it manages to trade near to the resistance level of 112 and it is now trading at 110.25, from this level further upside of movement would be expected. One can go for long position in it at 122 for the target of 120.

Technical Picture

Figure: 31 : Nifty50 Graph

RESISTANCE

SUPPORT

112

107

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Global Research Limited

Punjab National Bank


Weekly Pivots
STOCK
PNB

R2
1111.57

R1
1101.53

PP
1091.77

S1
1081.73

S2
1071.97

Technical Overview
The stock is currently trading short term uptrend and is expected to bounce from this level. In today's trading session it manages to trade and close above the 10 days and 50 days moving averages. It is looking strong on charts one can go for long position in it at 1110 above this level it would be in an upward trend.

Technical Picture

Figure: 32 : Nifty50 Graph

RESISTANCE

SUPPORT

1110

1039

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Global Research Limited

Ranbaxy Laboratories
Weekly Pivots
STOCK
RANBAXY

R2
552.98

R1
540.07

PP
532.08

S1
519.17

S2
511.18

Technical Overview
A negative opening made Ranbaxy battered down to the level of 524.10; from this level further downside of movement would be expected. It is now taking resistance at 557 and support at 504. It is looking weak on charts in the coming trading session if it manage to trade below the support level of 504 else above 557 it would be in an upward trend.

Technical Picture

Figure: 33 : Nifty50 Graph

RESISTANCE

SUPPORT

557

530

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Global Research Limited

Reliance Capital
Weekly Pivots
STOCK
RELCAPIT AL

R2
594.15

R1
588.3

PP
580.45

S1
574.6

S2
566.75

Technical Overview
Reliance capital has closed above the important resistance zone of 582 and looks positive for the short term perspective. It is now taking resistance at 588 and support at 555. It is looking positive in the coming trading session; one can go for long position in it at 555 for the target of 600.

Technical Picture

Figure: 34 : Nifty50 Graph

RESISTANCE

SUPPORT

588

555

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Global Research Limited

Reliance Communications
Weekly Pivots
STOCK
RCOM

R2
101.12

R1
99.28

PP
97.67

S1
95.83

S2
94.22

Technical Overview
The stock was moving sideways and in today's trading session it manages to trade and close above the major resistance zone of 98, from this level further upside of movement would be expected. It is looking strong on charts one can go for long position if it at 100 for the target of105.

Technical Picture

Figure: 35 : Nifty50 Graph

RESISTANCE

SUPPORT

100

94

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Global Research Limited

Reliance Industries
Weekly Pivots
STOCK
RELIANCE

R2
925.52

R1
893.73

PP
875.22

S1
843.43

S2
824.92

Technical Overview
Reliance Industries was trading in short term up trend. In today's trading session it manages to trade and close above the 10 days and 50 days moving averages. It is looking weak on charts if it manages to trade below the support level of 871 else above 907 it would be in an upward trend.

Technical Picture

Figure: 36 : Nifty50 Graph

RESISTANCE

SUPPORT

907

871

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Global Research Limited

Reliance Infrastructure
Weekly Pivots
STOCK
RELINFRA

R2
551.73

R1
547.02

PP
542.08

S1
537.37

S2
532.43

Technical Overview
It is now taking support at 515 and resistance at 555. The stock has closed positive and it is now trading at 535.05, from this level further upside of movement would be expected. One can go for long position in it at 555 for the target of 575 else below 515 it would be in a downward trend.

Technical Picture

Figure: 37 : Nifty50 Graph

RESISTANCE

SUPPORT

555

515

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Global Research Limited

Reliance Power
Weekly Pivots
STOCK
RPOWER

R2
119.58

R1
117.77

PP
115.98

S1
114.17

S2
112.38

Technical Overview
Reliance Power battered down to the level of 107.45, from this level it made a smart recovery and made a high of 117.80. It is taking resistance at 120 above this level it would be in an upward trend else below 112 it might face more selling pressure.

Technical Picture

Figure: 38 : Nifty50 Graph

RESISTANCE

SUPPORT

120

112

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Global Research Limited

Siemens India
Weekly Pivots
STOCK
SIE MENS

R2
898.97

R1
896.08

PP
892.12

S1
889.23

S2
885.27

Technical Overview
SIEMENS consolidated with positive biasness during last week. The major trend in the stock is bullish. In upcoming session some correction can be seen. The stock has resistance level at 900 and support level at 888 .One may go for the long position above its resistance level.

Technical Picture

Figure: 39 : Nifty50 Graph

RESISTANCE

SUPPORT

900

888

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Global Research Limited

Sterlite Industries India


Weekly Pivots
STOCK
STER

R2
173.97

R1
172.03

PP
170.47

S1
168.53

S2
166.97

Technical Overview
STERLITE remained positive although last week and made a weekly high of 172.40.At present it is in bullish trend and some correction can be seen in upcoming session. It has resistance level at 174 and support level at 169. One may go for long position above its resistance level.

Technical Picture

Figure: 40 : Nifty50 Graph

RESISTANCE

SUPPORT

174

169

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Global Research Limited

State Bank of India


Weekly Pivots
STOCK
SBIN

R2
2456.77

R1
2438.53

PP
2411.27

S1
2393.03

S2
2365.77

Technical Overview
STATE BANK OF INDIA remained positive all through last week and made weekly high of 2433. The stock now has support level at 2379 and resistance level at 2433. One could go for buying on dip strategy in it till it crosses its support level at 2433.

Technical Picture

Figure: 41 : Nifty50 Graph

RESISTANCE

SUPPORT

2433

2379

www.capitalvia.com 42

Global Research Limited

Steel Authority of India


Weekly Pivots
STOCK
SAIL

R2
140.68

R1
139.17

PP
137.83

S1
136.32

S2
134.98

Technical Overview
The stock consolidates in a tight range during last week. The stock has resistance level at 141, and above this level bullish movements can be expected in it. One should wait for crossing of levels on either side before taking any positions in it.

Technical Picture

Figure: 43 : Nifty50 Graph

RESISTANCE

SUPPORT

141

135

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Global Research Limited

Sun Pharmaceuticals
Weekly Pivots
STOCK
SUNPHARMA

R2
509.53

R1
503.77

PP
498.23

S1
492.47

S2
486.93

Technical Overview
SUN PHARMACEUTICALS has been consolidating with positive biasness from last many sessions and last week also it remained in the range. The stock is in major up trend, it has resistance level at 507 and support level at 489.One may hold long position in it till it breaches its support level of 489.

Technical Picture

Figure: 44 : Nifty50 Graph

RESISTANCE

SUPPORT

507

489

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Global Research Limited

Grasim
Weekly Pivots
STOCK
GRASIM

R2
2190.5

R1
2159

PP
2103.5

S1
2072

S2
2016.5

Technical Overview
The stock was trading sideways during the week and ended on a positive note. The stock is now facing resistance at 2170 and has support at 2040. As the stock closed on positive note a further up movement can be seen in the stock once it breaks its resistance level. One may go for buying the stock once it breaks its resistance level.

Technical Picture

Figure: 45 : Nifty50 Graph

RESISTANCE

SUPPORT

2170

2040

www.capitalvia.com 46

Global Research Limited

Tata Consultancy Services


Weekly Pivots
STOCK
TCS

R2
1208.17

R1
1200.03

PP
1189.87

S1
1181.73

S2
1171.57

Technical Overview
TATA CONSULTANCY SERVICES remained bullish in last week and made weekly high of 1198. After a continuous upward movement, some correction can be seen in upcoming session. It has resistance level at 1205 and support level at 1180. One may go for long position above its resistance level.

Technical Picture

Figure: 46 : Nifty50 Graph

RESISTANCE

SUPPORT

1205

1180

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Global Research Limited

Tata Motors
Weekly Pivots
STOCK
TATAMOTORS

R2
1020.9

R1
1007.8

PP
99 6.9

S1
98 3.8

S2
97 2.9

Technical Overview
TATA MOTORS showed positive biasness all through last week and made weekly low of 1012.75. The stock now has resistance level at 1013 and support level at 981. In short term it is expected to consolidate with positive biasness. One may go for buying the stock once it breaks its resistance.

Technical Picture

Figure: 47 : Nifty50 Graph

RESISTANCE

SUPPORT

1013

981

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Tata Steel
Weekly Pivots
STOCK
TATASTEEL

R2
625.93

R1
614.12

PP
604.88

S1
593.07

S2
583.83

Technical Overview
TATA STEEL remained positive all through last week and gained around 7.03%. The stock now has resistance level at 619 and support level at 596. In short term it is expected to show some correction. One may go for the long position above its resistance level.

Technical Picture

Figure: 48 : Nifty50 Graph

RESISTANCE

SUPPORT

619

596

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Tata Power Supply


Weekly Pivots
STOCK
TATAPOWER

R2
1328.8

R1
1316.8

PP
1307.45

S1
1295.45

S2
1286.1

Technical Overview
The stock remained in positive phase all through previous week and made weekly high of 1322. The stock has resistance level at 1322 and support level at 1298. In short term it is expected to consolidate with positive biasness. One may hold long position in it till it breaches its support level of 1298.

Technical Picture

Figure: 49 : Nifty50 Graph

RESISTANCE

SUPPORT

1322

1298

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Sesa Goa
Weekly Pivots
STOCK
SESAGOA

R2
293.62

R1
288.78

PP
283.42

S1
278.58

S2
273.22

Technical Overview
After making a high of 261.10 it is continuously moving sideways and in today's traidng session it made a high of 282.20. It is now taking support at 260 and resistance at 284. It is now trading at 280.30, form this level further upside of movement would be expected. One can go for long position in it at 284 for the target of 310.

Technical Picture

Figure: 50 : Nifty50 Graph

RESISTANCE

SUPPORT

284

260

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Wipro Corporation
Weekly Pivots
STOCK
WIPRO

R2
428.98

R1
426.07

PP
422.03

S1
419.12

S2
415.08

Technical Overview
WIPRO remained volatile during last week and it closed with moderate loss. The stock has support level at 418 and resistance level at 425. One should wait for entering in this stock for some time as it is expected to remain volatile.

Technical Picture

Figure: 51 : Nifty50 Graph

RESISTANCE

SUPPORT

425

418

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