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Global Research Limited

NIFTY50

WEEKLY REPORT
11th July - 15th July 2011

Global Research Limited

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

Figure: 1 : Nifty50 Graph

RESISTANCE

SUPPORT

1012

960

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Global Research Limited

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

Figure: 2 : Nifty50 Graph

RESISTANCE

SUPPORT

132.50

123

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Global Research Limited

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

Figure: 3 : Nifty50 Graph

RESISTANCE

SUPPORT

1343

1290

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Global Research Limited

Bajaj Auto Ltd.


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 4 : Nifty50 Graph

RESISTANCE

SUPPORT

1480

1415

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Global Research Limited

Bharat Heavy Electrical


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 5 : Nifty50 Graph

RESISTANCE

SUPPORT

2010

1920

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Global Research Limited

Bharat Petroleum Corporation


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 6 : Nifty50 Graph

RESISTANCE

SUPPORT

670

630

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Global Research Limited

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

Figure: 7 : Nifty50 Graph

RESISTANCE

SUPPORT

410

375

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Global Research Limited

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

Figure: 8 : Nifty50 Graph

RESISTANCE

SUPPORT

337

320

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Global Research Limited

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

Figure: 9 : Nifty50 Graph

RESISTANCE

SUPPORT

320

295

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Global Research Limited

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

Figure: 10 : Nifty50 Graph

RESISTANCE

SUPPORT

243

225

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Global Research Limited

Dr. Reddy Laboratories


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 11 : Nifty50 Graph

RESISTANCE

SUPPORT

1590

1520

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Global Research Limited

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

Figure: 12 : Nifty50 Graph

RESISTANCE

SUPPORT

473

445

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Global Research Limited

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

Figure: 13 : Nifty50 Graph

RESISTANCE

SUPPORT

515

495

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Global Research Limited

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

Figure: 14 : Nifty50 Graph

RESISTANCE

SUPPORT

2585

2509

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Global Research Limited

Housing Development Finance


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 15 : Nifty50 Graph

RESISTANCE

SUPPORT

738

702

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Global Research Limited

Hero Honda Motors


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 16 : Nifty50 Graph

RESISTANCE

SUPPORT

1923

1855

www.capitalvia.com 17

Global Research Limited

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

Figure: 17 : Nifty50 Graph

RESISTANCE

SUPPORT

195

184

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Global Research Limited

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

Figure: 18 : Nifty50 Graph

RESISTANCE

SUPPORT

340

323

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Global Research Limited

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

Figure: 19 : Nifty50 Graph

RESISTANCE

SUPPORT

1086

1040

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Global Research Limited

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

Figure: 20 : Nifty50 Graph

RESISTANCE

SUPPORT

141

131

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Global Research Limited

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

Figure: 21 : Nifty50 Graph

RESISTANCE

SUPPORT

3040

2936

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Global Research Limited

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

Figure: 22 : Nifty50 Graph

RESISTANCE

SUPPORT

208

195

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Global Research Limited

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

Figure: 23 : Nifty50 Graph

RESISTANCE

SUPPORT

83

79

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Global Research Limited

Jindal Steel & Power


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 24 : Nifty50 Graph

RESISTANCE

SUPPORT

664

625

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Global Research Limited

Larsen and Turbo


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 25 : Nifty50 Graph

RESISTANCE

SUPPORT

1877

1800

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Global Research Limited

Kotak Mahindra Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 26 : Nifty50 Graph

RESISTANCE

SUPPORT

495

474

www.capitalvia.com 27

Global Research Limited

Mahindra and Mahindra


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 27 : Nifty50 Graph

RESISTANCE

SUPPORT

740

708

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Global Research Limited

Maruti Suzuki India


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 28 : Nifty50 Graph

RESISTANCE

SUPPORT

1208

1150

www.capitalvia.com 29

Global Research Limited

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

Figure: 29 : Nifty50 Graph

RESISTANCE

SUPPORT

195

183

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Global Research Limited

Oil and Natural Gas Corp


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 30 : Nifty50 Graph

RESISTANCE

SUPPORT

282

263

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Global Research Limited

Power Grid Corporation of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 31 : Nifty50 Graph

RESISTANCE

SUPPORT

112

107

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Global Research Limited

Punjab National Bank


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 32 : Nifty50 Graph

RESISTANCE

SUPPORT

1170

1110

www.capitalvia.com 33

Global Research Limited

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

Figure: 33 : Nifty50 Graph

RESISTANCE

SUPPORT

560

500

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Global Research Limited

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

Figure: 34 : Nifty50 Graph

RESISTANCE

SUPPORT

615

580

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Global Research Limited

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

Figure: 35 : Nifty50 Graph

RESISTANCE

SUPPORT

102

94

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Global Research Limited

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

Figure: 36 : Nifty50 Graph

RESISTANCE

SUPPORT

880

828

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Global Research Limited

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

Figure: 37 : Nifty50 Graph

RESISTANCE

SUPPORT

591

565

www.capitalvia.com 38

Global Research Limited

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

Figure: 38 : Nifty50 Graph

RESISTANCE

SUPPORT

120

115

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Global Research Limited

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

Figure: 39 : Nifty50 Graph

RESISTANCE

SUPPORT

928

910

www.capitalvia.com 40

Global Research Limited

Sterlite Industries India


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 40 : Nifty50 Graph

RESISTANCE

SUPPORT

165

161

www.capitalvia.com 41

Global Research Limited

State Bank of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 41 : Nifty50 Graph

RESISTANCE

SUPPORT

2515

2457

www.capitalvia.com 42

Global Research Limited

Steel Authority of India


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 43 : Nifty50 Graph

RESISTANCE

SUPPORT

145

135

www.capitalvia.com 44

Global Research Limited

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

Figure: 44 : Nifty50 Graph

RESISTANCE

SUPPORT

513

493

www.capitalvia.com 45

Global Research Limited

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

Figure: 45 : Nifty50 Graph

RESISTANCE

SUPPORT

2216

2125

www.capitalvia.com 46

Global Research Limited

Tata Consultancy Services


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 46 : Nifty50 Graph

RESISTANCE

SUPPORT

1205

1169

www.capitalvia.com 47

Global Research Limited

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

Figure: 47 : Nifty50 Graph

RESISTANCE

SUPPORT

1102

1046

www.capitalvia.com 48

Global Research Limited

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

Figure: 48 : Nifty50 Graph

RESISTANCE

SUPPORT

608

589

www.capitalvia.com 49

Global Research Limited

Tata Power Supply


Weekly Pivots
STOCK R2 R1 PP S1 S2

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

Figure: 49 : Nifty50 Graph

RESISTANCE

SUPPORT

1326

1281

www.capitalvia.com 50

Global Research Limited

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

Figure: 50 : Nifty50 Graph

RESISTANCE

SUPPORT

297

275

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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

Figure: 51 : Nifty50 Graph

RESISTANCE

SUPPORT

435

420

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