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NIFTY50
WEEKLY REPORT
11th July - 15th July 2011
ACC
Weekly Pivots
STOCK R2 R1 PP S1 S2
ACC
1023.08
999.22
974.13
950.27
925.18
Technical Overview
The stock had an either side movement this week. it now has support at 960, breach of this level will bring some correction in the stock and may take it till the levels of 940 in coming trading sessions.
Technical Picture
RESISTANCE
SUPPORT
1012
960
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Ambuja Cements
Weekly Pivots
STOCK R2 R1 PP S1 S2
AMBUJACEM
134.52
130.38
128.12
123.98
121.72
Technical Overview
The stock moved with negative biasness throughout this week, its next support is at 123 breach of this level will take the stock further downwards. One could go for sell on rise strategy in the stock as it is expected to test the support level once.
Technical Picture
RESISTANCE
SUPPORT
132.50
123
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Axis Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2
AXISBANK
1352.78
1329.37
1316.08
1292.67
1279.38
Technical Overview
The stock is consolidating currently. Its next resistance is at 1343, crossing of this level will take the stock upwards while it has support at 1290, breach of this level will take the stock downwards. one should now wait crossing of levels on either side before taking any positions in it.
Technical Picture
RESISTANCE
SUPPORT
1343
1290
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BAJAJ-AUTO
1510.6
1485.2
1451.1
1425.7
1391.6
Technical Overview
The stock had an up rally throughout this week. One should now wait for sometime in the stock as it is expected to consolidate a bit after a continuous up rally.
Technical Picture
RESISTANCE
SUPPORT
1480
1415
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BHEL
2133.37
2058.73
2000.37
1925.73
1867.37
Technical Overview
The stock is consolidating currently; one should now wait for crossing of levels on either side before taking any positions in it.
Technical Picture
RESISTANCE
SUPPORT
2010
1920
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BPCL
860.95
765.1
701.05
605.2
541.15
Technical Overview
The stock is currently moving in a range. It has resistance at 670, crossing of this level will take the stock upwards.
Technical Picture
RESISTANCE
SUPPORT
670
630
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Bharti Airtel
Weekly Pivots
STOCK R2 R1 PP S1 S2
BHARTIARTL
427.08
412.62
395.43
380.97
363.78
Technical Overview
The stock had an upward movement this week and made a new 52 week high. It has resistance at 410, crossing of this level may take the stock further upwards.
Technical Picture
RESISTANCE
SUPPORT
410
375
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Cipla
Weekly Pivots
STOCK R2 R1 PP S1 S2
CIPLA
344.47
338.53
332.02
326.08
319.57
Technical Overview
The stock is consolidating after a bearish trend previously. The stock now faces resistance at 337; crossing of this level will take the stock further upwards.
Technical Picture
RESISTANCE
SUPPORT
337
320
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Cairn India
Weekly Pivots
STOCK R2 R1 PP S1 S2
CAIRN
339.6
331.4
321.5
313.3
303.4
Technical Overview
The stock is consolidating currently after a bearish trend previously. One should now wait for sometime in the stock as it is expected to consolidate a bit after this downfall.
Technical Picture
RESISTANCE
SUPPORT
320
295
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DLF
Weekly Pivots
STOCK R2 R1 PP S1 S2
DLF
278.38
257.77
221.88
201.27
165.38
Technical Overview
The stock had an up rally this week, it has resistance at 243, crossing of this level will take the stock further upwards, else it may also resist at higher levels.
Technical Picture
RESISTANCE
SUPPORT
243
225
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DRREDDY
1625.17
1587.63
1549.37
1511.83
1473.57
Technical Overview
The stock was trading sideways during the week and ended on a negative note. The major trend presently in the stock is sideways. The stock is now facing resistance at 1590 and has support at 1520. As the stock closed on negative note a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
1590
1520
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Gail India
Weekly Pivots
STOCK R2 R1 PP S1 S2
GAIL
483.12
472.98
461.77
451.63
440.42
Technical Overview
The stock showed an up movement during the week and closed with negative biasness. The major trend presently in the stock is sideways. The stock is now facing resistance at 473 and has support at 445 which is the 50 day moving average of the stock. As the stock closed with negative biasness a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support.
Technical Picture
RESISTANCE
SUPPORT
473
445
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HCL Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2
HCLTECH
519.32
510.78
503.92
495.38
488.52
Technical Overview
The stock was trading sideways during the week and closed on a negative note. The stock is now facing resistance at 515 and has support at 495. As the stock closed on negative note a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
515
495
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HDFC Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2
HDFCBANK
2622.52
2590.83
2551.62
2519.93
2480.72
Technical Overview
The stock showed a continuous up movement during the week and was trading at its all time high and closed with negative biasness. The stock is now facing resistance at 2585 and has support at 2509 which is the 10 day moving average of the stock. 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
RESISTANCE
SUPPORT
2585
2509
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HDFC
755.23
734.72
712.43
691.92
669.63
Technical Overview
The stock showed a continuous up movement during the week and on the last day of trading week some profit booking was seen in the stock and it moved down. The stock is now facing resistance at 738 and has support at 702 which is the 10 day moving average of the stock. 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
RESISTANCE
SUPPORT
738
702
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HEROHONDA
1955.97
1929.08
1893.12
1866.23
1830.27
Technical Overview
The stock moved down during the earlier trading days of the week and then a recovery was seen in the stock during the last trading session of the week. The major trend presently in the stock is sideways. The stock is now facing resistance at 1923 and has support at 1855. 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
RESISTANCE
SUPPORT
1923
1855
www.capitalvia.com 17
Hindalco Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2
HINDALCO
200.7
194.4
189.7
183.4
178.7
Technical Overview
The stock was trading sideways during the week and closed on negative note. The stock is now facing resistance at 195 and has support at 184. As the stock closed on a negative note a further down movement can be seen in the stock. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
195
184
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Hindustan Unilever
Weekly Pivots
STOCK R2 R1 PP S1 S2
HINDUNILVR
346.68
340.07
334.38
327.77
322.08
Technical Overview
The stock showed some profit booking and moved down during the week and closed on a negative note. The stock is now facing resistance at 340 and has support at 323. 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
RESISTANCE
SUPPORT
340
323
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ICICI Bank
Weekly Pivots
STOCK R2 R1 PP S1 S2
ICICIBANK
1131.3
1095.75
1076.25
1040.7
1021.2
Technical Overview
The stock showed a continuous down move during the week and closed on a negative note. The stock is now facing resistance at 1086 which is the 10 day moving average of the stock and has support at 1040. Break of support may take the stock further down. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
1086
1040
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IDFC
Weekly Pivots
STOCK R2 R1 PP S1 S2
IDFC
142.23
138.27
135.88
131.92
129.53
Technical Overview
IDFC showed volatile movements during last week, but traded in tight range and it closed almost flat. The stock now has resistance level at 141 and support level at 131. In short term it is expected to consolidated and remain range bound, also breaching of support level may take it to lower levels.
Technical Picture
RESISTANCE
SUPPORT
141
131
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Infosys Technologies
Weekly Pivots
STOCK R2 R1 PP S1 S2
INFOSYSTCH
3073.38
3024.97
2975.48
2927.07
2877.58
Technical Overview
INFOSYS had volatile trading session last week; it made weekly high of 3023.90 and closed at 2976.55. The stock has resistance level at 3040 and support level at 2936. It is expected to consolidate and remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
3040
2936
www.capitalvia.com 22
ITC
Weekly Pivots
STOCK R2 R1 PP S1 S2
ITC
210.78
205.67
199.98
194.87
189.18
Technical Overview
ITC had volatile trading session last week and it closed almost flat. The stock may take resistance from the level of 208 and it has support level at 195. 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
RESISTANCE
SUPPORT
208
195
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Jaiprakash Associates
Weekly Pivots
STOCK R2 R1 PP S1 S2
JPASSOCIAT
84.63
82.17
80.83
78.37
77.03
Technical Overview
JP ASSOCIATES showed negative biasness all through last week. The stock has resistance level at 83 and support level at 79. In short term it is expected to consolidate with negative biasness in short term, also breaching of support level may take it to lower levels.
Technical Picture
RESISTANCE
SUPPORT
83
79
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JINDALST EL
676.53
660.07
647.03
630.57
617.53
Technical Overview
JINDAL STEEL AND POWER had volatile trading session last week and it closed with moderate losses. The stock has resistance level at 664 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
RESISTANCE
SUPPORT
664
625
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LT
1916.8
1876.7
1828.35
1788.25
1739.9
Technical Overview
L&T consolidated with positive biasness in last week and closed with moderate gain. The stock has resistance level at 1877 and support level at 1800. In short term some correction can be expected in the stock.
Technical Picture
RESISTANCE
SUPPORT
1877
1800
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KOTAKBANK
503.87
492.38
483.42
471.93
462.97
Technical Overview
KOTAK MAHINDRA BANK remained sideways during last week and closed with moderate gain. The stock has support level at 474 and resistance level at 495. It is expected consolidate and remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
495
474
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M&M
758.1
737.85
718.2
697.95
678.3
Technical Overview
M&M showed positive side movement in last week and made weekly high of 738.45. The stock has support level at 708 and resistance level at 740. It is expected to consolidate and remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
740
708
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MARUTI
1243.18
1213.72
1172.53
1143.07
1101.88
Technical Overview
MARUTI had upside trading session last week and it made weekly high of 1202. The stock has resistance level at 1208 and support level at 1150. In short term it is expected to consolidate and remain range bound.
Technical Picture
RESISTANCE
SUPPORT
1208
1150
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NTPC Ltd.
Weekly Pivots
STOCK R2 R1 PP S1 S2
NTPC
198.45
194.65
188.65
184.85
178.85
Technical Overview
NTPC continued its positive side movement in last week and it made weekly high of 192.45. The stock has support level at 183 and resistance level at 195. 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
RESISTANCE
SUPPORT
195
183
www.capitalvia.com 30
ONG C
285.65
281.4
276.4
272.15
267.15
Technical Overview
After a brief consolidation the stock has show a 275-280, the stock has shown a sign of improvement with trading above the 10 days and 50 days moving averages. It is now taking resistance at 281 and support at 271. It is looking strong on charts; one can go for long position in it at 282 for the target of 300.
Technical Picture
RESISTANCE
SUPPORT
282
263
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POWERGRID
112.93
111.07
109.53
107.67
106.13
Technical Overview
The stock is holding up strongly above the 10 days and 50 days moving averages. It is now moving in a particular range of 108-112. It is looking positive in the coming trading session if it manages to trade above the resistance level of 112 else below 107 it would might face more selling pressure.
Technical Picture
RESISTANCE
SUPPORT
112
107
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PNB
1214.65
1183.9
1138.95
1108.2
1063.25
Technical Overview
The stock is currently moving long term uptrend and is expected to touch the level of 1200. It is now taking resistance at 1170 and support at 1110. One can go for long position in it at 1170 for the target of 1200.
Technical Picture
RESISTANCE
SUPPORT
1170
1110
www.capitalvia.com 33
Ranbaxy Laboratories
Weekly Pivots
STOCK R2 R1 PP S1 S2
RANBAXY
580.05
565.3
544.65
529.9
509.25
Technical Overview
After moving in a particular trading range of 520-550, in today's trading session it is manages to trade near to the resistance level of 560. It is looking positive in the coming trading session if it manages to trade above the resistance level of 560 else below 500 it would might face more selling pressure.
Technical Picture
RESISTANCE
SUPPORT
560
500
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Reliance Capital
Weekly Pivots
STOCK R2 R1 PP S1 S2
RELCAPITAL
628.48
609.17
593.68
574.37
558.88
Technical Overview
The stock close negative, after moving in a long term uptrend the stock has corrected and made a low of 588; from this level further downside of movement would be expected. It is now taking support at 580 below this level it would be in a downward trend. It is looking bearish in the coming trading session; one can go for short position in it at 580 for the target of 550.
Technical Picture
RESISTANCE
SUPPORT
615
580
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Reliance Communications
Weekly Pivots
STOCK R2 R1 PP S1 S2
RCOM
103.45
100.6
98.35
95.5
93.25
Technical Overview
The stock trading in a short term down trend, there is a selling pressure from resistance level of 102 which show continuation of short term down trend. The stock may sold within a range of 94-96 for the target of 90.
Technical Picture
RESISTANCE
SUPPORT
102
94
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Reliance Industries
Weekly Pivots
STOCK R2 R1 PP S1 S2
RELIANCE
897.02
875.93
858.32
837.23
819.62
Technical Overview
The stock is losing strength from the last few trading session it is now trading at 854.85. It is long weak on charts if it manages to trade below the support level of 828, from this level it might face more selling pressure.
Technical Picture
RESISTANCE
SUPPORT
880
828
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Reliance Infrastructure
Weekly Pivots
STOCK R2 R1 PP S1 S2
RELINFRA
629.08
605.87
577.78
554.57
526.48
Technical Overview
The stock has given a fresh break out on daily charts above resistance level of 591 with good volume but it gave closing near to the day's low of 576.70, from this level either side of movement would be expected. It has support at 565 below this level it would be in a bearish trend.
Technical Picture
RESISTANCE
SUPPORT
591
565
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Reliance Power
Weekly Pivots
STOCK R2 R1 PP S1 S2
RPOWER
121.95
120.3
118.25
116.6
114.55
Technical Overview
RPOWER is trading in a range of 116-120 and it is now trading at 118.65. In order to be in an upward trend it has to trade and consolidate above the 10 days and 50 days moving averages. It is showing momentum above the level of 120, one can go for long position in it at 120 for the target of 128.
Technical Picture
RESISTANCE
SUPPORT
120
115
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Siemens India
Weekly Pivots
STOCK R2 R1 PP S1 S2
SIEMENS
958.5
937
906.5
885
854.5
Technical Overview
SIEMENS remains positive all through last week and made 52 weeks high of 928. The stock was up by more than 5%.In upcoming session some correction can be expected. It has next resistance level at 928 and support level at 910. One may hold long position till it breach its support level of 910.
Technical Picture
RESISTANCE
SUPPORT
928
910
www.capitalvia.com 40
STER
180.2
171.8
166.4
158
152.6
Technical Overview
STERLITE INDUSTRIES remained in negative phase all through last week and made a weekly low of 161. The stock now has support level at 161 and resistance level at 165. It is expected to consolidate with positive biasness in short term to show some correction. One may go for long position above its resistance level.
Technical Picture
RESISTANCE
SUPPORT
165
161
www.capitalvia.com 41
SBIN
2573.15
2525.8
2467.65
2420.3
2362.15
Technical Overview
STATE BANK OF INDIA remained in positive phase all through previous week and made weekly high of 2515. The stock has next resistance level at 2515 and support level at 2457. One could go for buying on dip strategy in it till it crosses its support level at 2457.
Technical Picture
RESISTANCE
SUPPORT
2515
2457
www.capitalvia.com 42
SAIL
146.35
141.4
138.75
133.8
131.15
Technical Overview
STEEL AUTHORITY OF INDIA remained volatile last week and closed with moderate loss. It now has support level at 135 and resistance level at 145. One may go for the short position in it till it crosses its resistance level at 145.
Technical Picture
RESISTANCE
SUPPORT
145
135
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Sun Pharmaceuticals
Weekly Pivots
STOCK R2 R1 PP S1 S2
SUNPHARMA
522.23
512.52
502.78
493.07
483.33
Technical Overview
SUN PHARMACEUTICALS remained in positive phase all through previous week and made weekly high of 512.50. The stock now has next resistance level at 513 and support level at 493. One could go for buying on dip strategy in it till it crosses its support level at 493.
Technical Picture
RESISTANCE
SUPPORT
513
493
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Grasim
Weekly Pivots
STOCK R2 R1 PP S1 S2
GRASIM
2325.28
2245.97
2180.48
2101.17
2035.68
Technical Overview
The stock showed an up movement during the week and on the last day of trading week it moved down and closed with negative biasness. The stock is now facing resistance at 2216 which is the 50 day moving average of the stock and has support at 2125. As the stock closed on negative note a further down movement can be seen in the stock once it breaks its support level. One may go for selling the stock once it breaks its support level.
Technical Picture
RESISTANCE
SUPPORT
2216
2125
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TCS
1217.72
1194.68
1181.97
1158.93
1146.22
Technical Overview
TATA CONSULTANCY SERVICES consolidate with negative biasness all through last week .It's looking strong on the chart. It has next resistance level at 1205 and support level at 1169. The major trend is bullish in the stock, in upcoming session upward movement is expected. One may go for long position above its resistance level.
Technical Picture
RESISTANCE
SUPPORT
1205
1169
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Tata Motors
Weekly Pivots
STOCK R2 R1 PP S1 S2
TATAMOTORS
1114.73
1084.37
1043.93
1013.57
973.13
Technical Overview
TATA MOTORS remained positive all through last week and gained around 7.5%. The stock now has next resistance level at 1102 and support level at 1046. In short term it is expected to remain positive and to test its resistance level. One may hold long position in it till it breaks its support level at 1046.
Technical Picture
RESISTANCE
SUPPORT
1102
1046
www.capitalvia.com 48
Tata Steel
Weekly Pivots
STOCK R2 R1 PP S1 S2
TATASTEEL
615.57
605.23
597.67
587.33
579.77
Technical Overview
TATA STEEL remained volatile during last week and it closed almost flat. The stock has support level at 589 and resistance level at 608.in short term some more correction is expected. One could go for buy on dip strategy in the stock until it breaks 589 in downside.
Technical Picture
RESISTANCE
SUPPORT
608
589
www.capitalvia.com 49
TATAPOWER
1343.95
1317.3
1299.35
1272.7
1254.75
Technical Overview
TATA POWER SUPPLY remained volatile during last week and it closed almost flat. The stock has support level at 1281 and resistance level at 1326. It's looking very strong on the chart. One may hold long position in it till it breaches its support level of 1281.
Technical Picture
RESISTANCE
SUPPORT
1326
1281
www.capitalvia.com 50
Sesa Goa
Weekly Pivots
STOCK R2 R1 PP S1 S2
SESAGO A
318.05
299.9
278.35
260.2
238.65
Technical Overview
The stock has closed in red and it is now trading at 294.55. In today's trading session it battered down to the level of 256.80. It is now taking resistance at 297 and support at 275 from this level further downside of movement would be expected. One can go for short position in it at 275 for the target of 350.
Technical Picture
RESISTANCE
SUPPORT
297
275
www.capitalvia.com 51
Wipro Corporation
Weekly Pivots
STOCK R2 R1 PP S1 S2
WIPRO
490.5
461
405.5
376
320.5
Technical Overview
WIPRO remain in positive phase all through last week and made a weekly high of 435. It now has support level at 420 and resistance level at 435. One could go for buying on dip strategy in it till it breaches its support level at 420.
Technical Picture
RESISTANCE
SUPPORT
435
420
www.capitalvia.com 52
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