Nifty 50 Reports For The Week (25th - 29th July '11)

Global Research Limited
NIFTY50
WEEKLY REPORT
25th July - 29th July 2011
ACC
Weekly Pivots
STOCK R2 R1 PP S1 S2
ACC
1011.55
1003.3
988.7
980.45
965.85
Technical Overview
The stock moving in a tight range and had an either side movement throughout the last week. One should now wait for sometime in the stock as it is expected to continue its consolidation a bit after a bearish trend and if it manages to cross its resistance of 1000, it may take an up rally.
Technical Picture
Figure: 1 : Nifty50 Graph
RESISTANCE
SUPPORT
1000
945
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Ambuja Cements
Weekly Pivots
AMBUJACEM
133.25
131.4
128.75
126.9
124.25
Technical Overview
The stock has tried to take support at lower levels. Its next major support level is at 120, breach of this level will take the stock further downwards while it has resistance at 132.50, crossing of this level may take the stock further upwards.
Technical Picture
RESISTANCE
SUPPORT
132.50
120
Axis Bank
Weekly Pivots
AXISBANK
1354.3
1325.6
1283.3
1254.6
1212.3
Technical Overview
The stock had a volatile session in terms of price movement today post its better than expected quarterly numbers. One should now wait for sometime in the stock.
Technical Picture
RESISTANCE
SUPPORT
1340
1225
Bajaj Auto Ltd.

Weekly Pivots
BAJAJ-AUTO
1464.75
1456.65
1442.1
1434
1419.45
Technical Overview
The stock had a correction phase this week. It now has support at 1415, breach of this level will take the stock further down while it has resistance at 1450, crossing of this level will take the stock upwards.
Technical Picture
RESISTANCE
SUPPORT
1450
1415
Bharat Heavy Electrical

Weekly Pivots
BHEL
2009.47
1992.43
1964.97
1947.93
1920.47
Technical Overview
The stock is consolidating currently from last many trading sessions; one should now wait for crossing of levels on either side before taking any positions in it.
Technical Picture
RESISTANCE
SUPPORT
2005
1920
Bharat Petroleum Corporation

Weekly Pivots
BPCL
681.92
675.43
664.87
658.38
647.82
Technical Overview
The stock is currently moving in a range. It has resistance at 680; crossing of this level will take the stock upwards while it has support at 660, breach of this level will take the stock
Technical Picture
RESISTANCE
SUPPORT
680
660
Bharti Airtel
Weekly Pivots
BHARTIARTL
423.02
417.08
406.62
400.68
390.22
Technical Overview
The stock moved with positive biasness this week and had an up rally in today's trading session. One could hold the long positions in the stock as it may be expected to move till the levels of 425-430 in coming trading session after a bit consolidation.
Technical Picture
RESISTANCE
SUPPORT
400
375
Cipla
Weekly Pivots
CIPLA
326.98
324.22
320.23
317.47
313.48
Technical Overview
The stock had consolidation in today's trading session. Now its next support is at 310, breach of this level may take the stock further down else it may also bounce back and crossing of resistance 324 will take it further upwards.
Technical Picture
RESISTANCE
SUPPORT
324
310
Cairn India
Weekly Pivots
CAIRN
332.78
329.32
324.43
320.97
316.08
Technical Overview
The stock is consolidating currently in a range 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
330
313
DLF
Weekly Pivots
DLF
247.92
244.48
241.07
237.63
234.22
Technical Overview
The stock had an either side movement this week. One should wait for crossing of levels on either side before taking any positions in it.
Technical Picture
RESISTANCE
SUPPORT
246
230
Dr. Reddy Laboratories

Weekly Pivots
DRREDDY
1595.28
1582.57
1565.03
1552.32
1534.78
Technical Overview
The stock moved down during the week and closed with positive biasness. The major trend presently in the stock is sideways. The stock is now facing resistance at 1580 and has support at 1530. As the stock closed positive note a further up movement can be seen in the stock once it breaks its resistance level.
Technical Picture
RESISTANCE
SUPPORT
1580
1530
Gail India
Weekly Pivots
GAIL
473.23
469.87
464.23
460.87
455.23
Technical Overview
The stock showed an up movement during the week and closed with positive biasness. The major trend presently in the stock is sideways. The stock is now facing resistance at 485 and has support at 450. As the stock closed with positive biasness a further up movement can be seen in the stock once it breaks its resistance.
Technical Picture
RESISTANCE
SUPPORT
485
450
HCL Technologies
Weekly Pivots
HCLTECH
510.4
507.65
504.75
502
499.1
Technical Overview
The stock was consolidating during the week and closed with positive biasness. The stock is now facing resistance at 510 and has support at 495. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
Technical Picture
RESISTANCE
SUPPORT
510
495
HDFC Bank
Weekly Pivots
HDFCBANK
510.68
506.12
502.48
497.92
494.28
Technical Overview
The stock moved down during the week but managed to close on a positive note. The stock is now facing resistance at 509 and has support at 490. 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
RESISTANCE
SUPPORT
509
490
Housing Development Finance

Weekly Pivots
HDFC
718.58
713.22
706.63
701.27
694.68
Technical Overview
The stock was consolidating during week and closed on appositive note. The stock is now facing resistance at 705 and has support at 690. Break of resistance may take the stock further up. One may go for buying the stock one it breaks its resistance level.
Technical Picture
RESISTANCE
SUPPORT
705
690
Hero Honda Motors

Weekly Pivots
HEROHONDA
1845.38
1833.07
1810.53
1798.22
1775.68
Technical Overview
The stock showed a down movement during the earlier trading days and then moved up during the later trading days. The stock is now facing resistance at 1840 and has support at 1785. Break of resistance may take the stock further up. One may go for buying the stock once it breaks its resistance level.
Technical Picture
RESISTANCE
SUPPORT
1840
1785
Hindalco Industries
Weekly Pivots
HINDALCO
181.77
179.23
177.27
174.73
172.77
Technical Overview
The stock showed an either side movement during the week and closed with negative biasness. The trend presently in the stock is sideways. The stock is now facing resistance at 182 which is the 50 day moving average of the stock and has support at 173. Break of support may take the stock further down.
Technical Picture
RESISTANCE
SUPPORT
182
173
Hindustan Unilever
Weekly Pivots
HINDUNILVR
339.6
336.65
334.45
331.5
329.3
Technical Overview
The stock was consolidating during the week and trading sideways and closed with negative biasness. The stock is now facing resistance at 339 and has support at 326. The trend presently in the stock is sideways. Break of support may take the stock further down. One may go for selling the stock once it breaks its support.
Technical Picture
RESISTANCE
SUPPORT
339
326
ICICI Bank
Weekly Pivots
ICICIBANK
1085.05
1076.55
1061.5
1053
1037.95
Technical Overview
The stock showed a sideways movement during the week and closed with positive biasness. The stock is now facing resistance at 1070 which and has support at 1040. A further up movement is expected 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
1070
1040
IDFC
Weekly Pivots
IDFC
145.22
143.43
140.47
138.68
135.72
Technical Overview
IDFC showed volatile movements during last week, and closed with moderate gain. The stock now has resistance level at 144 and support level at 136. In short term it is expected to consolidate with positive biasness, also crossing of resistance level may take the stock at higher levels.
Technical Picture
RESISTANCE
SUPPORT
144
136
Infosys Technologies
Weekly Pivots
INFY
2888.08
2858.17
2814.08
2784.17
2740.08
Technical Overview
INFOSYS showed positive biasness during last week and made weekly high of 2844. The stock has resistance level at 2850 and support level at 2765. It is expected to consolidate with positive biasness and crossing of resistance level may take it to higher levels.
Technical Picture
RESISTANCE
SUPPORT
2850
2765
ITC
Weekly Pivots
ITC
210.33
208.87
207.73
206.27
205.13
Technical Overview
ITC had upside trading session during last week and made weekly high of 209.20. The stock may take resistance from the level of 210 and it has support level at 203. 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
210
203
Jaiprakash Associates
Weekly Pivots
JPASSOCIAT
76.37
75.83
75.32
74.78
74.27
Technical Overview
JP ASSOCIATES showed negative biasness all through last week. The stock has resistance level at 77 and support level at 74. In short term it is expected to consolidate with negative biasness in short term, also if it continue to sustain above the support level a bounce back can be seen in it.
Technical Picture
RESISTANCE
SUPPORT
77
74
Jindal Steel & Power

Weekly Pivots
JINDALST EL
638.77
633.23
629.47
623.93
620.17
Technical Overview
JINDAL STEEL AND POWER remained sideways all through last week and closed with nominal losses. The stock has resistance level at 640 and support level at 623. It is expected to consolidate and remain range bound in short term, breaching of support level may take it to lower levels.
Technical Picture
RESISTANCE
SUPPORT
640
623
Larsen and Turbo

Weekly Pivots
LT
1850.95
1839.1
1818.15
1806.3
1785.35
Technical Overview
L&T is in sideways trend from last many sessions and last week it followed the same. The stock has resistance level at 1843 and support level at 1768. In short term it is expected to consolidate and remain range bound. On should wait for proper breakout in the stock as either side movement can be seen.
Technical Picture
RESISTANCE
SUPPORT
1843
1768
Kotak Mahindra Bank

Weekly Pivots
KOTAKBANK
496.58
491.07
483.58
478.07
470.58
Technical Overview
KOTAK MAHINDRA BANK had volatile trading session last week and it closed almost flat. The stock has support level at 469 and resistance level at 495. It is expected consolidate and remain range bound in short term.
Technical Picture
RESISTANCE
SUPPORT
495
469
Mahindra and Mahindra

Weekly Pivots
M&M
739.12
731.73
718.62
711.23
698.12
Technical Overview
M&M showed volatile movements all through last week and closed almost flat. The stock has support level at 698 and resistance level at 726. It is expected to consolidate with positive biasness and crossing of resistance level may take it to higher levels.
Technical Picture
RESISTANCE
SUPPORT
726
698
Maruti Suzuki India

Weekly Pivots
MARUTI
1174.53
1168.07
1161.53
1155.07
1148.53
Technical Overview
MARUTI consolidated with negative biasness all through last week and it closed with nominal loss. The stock has resistance level at 1177 and support level at 1140. In short term it is expected to consolidate and may test its resistance level.
Technical Picture
RESISTANCE
SUPPORT
1177
1140
NTPC Ltd.
Weekly Pivots
NTPC
188.57
185.88
184.27
181.58
179.97
Technical Overview
NTPC had volatile trading session last week and it closed with moderate loss. The stock has support level at 182 and resistance level at 190. In short term it is expected to consolidate and remain range bound. Also breaching of support level may take it to lower levels.
Technical Picture
RESISTANCE
SUPPORT
190
182
Oil and Natural Gas Corp

Weekly Pivots
ONGC
284.07
281.83
279.67
277.43
275.27
Technical Overview
ONGC is moving sideways and in today's trading session it manages to trade above its 10 days and 50 days moving averages and it is now trading at 279.60. It is now taking resistance at 282 and support at 274. It is looking strong on charts; one can go for long position in it at 282 for the target of 295.
Technical Picture
RESISTANCE
SUPPORT
282
274
Power Grid Corporation of India

Weekly Pivots
POWERGRID
111.82
110.68
109.02
107.88
106.22
Technical Overview
ONGC is moving sideways and in today's trading session it manages to trade above its 10 days and 50 days moving averages; from this level further upside of movement would be expected. It is now taking resistance at 113 above this level it would be in an upward trend else below support level of 106 it might face more selling pressure.
Technical Picture
RESISTANCE
SUPPORT
113
106
Punjab National Bank

Weekly Pivots
PNB
1195.83
1182.77
1161.88
1148.82
1127.93
Technical Overview
The stock has been moving short term uptrend; it is now trading at 1169.70 from this level further upside of movement would be expected. It is now taking resistance at 1185 and support at 1132. One can go for long position in it at 1185 for the target of 1120.
Technical Picture
RESISTANCE
SUPPORT
1185
1132
Ranbaxy Laboratories
Weekly Pivots
RANBAXY
553.45
548.1
540.65
535.3
527.85
Technical Overview
After making a high of 562.90 it is continuously moving in a downward trend and battered down to the level of 530; from this level it made a smart recovery and made a high of 546. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 554 else below 530 it would be in a downward trend.
Technical Picture
RESISTANCE
SUPPORT
554
530
Reliance Capital
Weekly Pivots
RELCAPITAL
606.92
602.58
595.42
591.08
583.92
Technical Overview
The stock closed positive and it showing gaining momentum with increase in volume. It is looking bullish in the coming trading session; one can go for long position in it at 605 for the target of 625.
Technical Picture
RESISTANCE
SUPPORT
605
585
Reliance Communications
Weekly Pivots
RCOM
96.73
95.17
92.58
91.02
88.43
Technical Overview
The stock had been consolidating with negative bias and in last trading session it battered down to the level of 89.25, from this level it made a recovery and made a high of 94.15. It is now taking support at 89 and resistance at 95. It is looking strong on charts; one can go for long position in it at 95 for the target of 100.
Technical Picture
RESISTANCE
SUPPORT
95
89
Reliance Industries
Weekly Pivots
RELIANCE
885.45
879.4
870.95
864.9
856.45
Technical Overview
After making low of 840.70 it is continuously moving in an upward trend and a negative opening made it to trade above the 10 days DMA. 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 now taking resistance at 887 above this level it would be in an upward trend.
Technical Picture
RESISTANCE
SUPPORT
877
857
Reliance Infrastructure
Weekly Pivots
RELINFRA
587.1
583.75
578.65
575.3
570.2
Technical Overview
The stock has been trading in a range of 560-586, it now trading at 580.40. It has manages to trade and close below the 10 days and 50 days moving averages. One can go for long position in it at 586 for the target of 600.
Technical Picture
RESISTANCE
SUPPORT
586
560
Reliance Power
Weekly Pivots
RPOWER
115.9
115.25
114.25
113.6
112.6
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
117
112
Siemens India
Weekly Pivots
SIEMENS
945.18
938.62
932.43
925.87
919.68
Technical Overview
SIEMENS INDIA remains positive all through the last week and made 52 weeks high of 939. In upcoming session upward movement can be expected. It now has next resistance level at 939 and support level at 923. It's looking very strong on the chart. One may hold long position in it till it breaks its support level of 923.
Technical Picture
RESISTANCE
SUPPORT
939
923
Sterlite Industries India

Weekly Pivots
STER
170.55
169.7
168.4
167.55
166.25
Technical Overview
STERLITE INDUSTRIES remain positive all through last week and made a weekly high of 169.25. The major trend in the stock is sideways. It has next resistance level at 170 and support level at 167. In upcoming session some correction is expected. One may go for the long position above its resistance level.
Technical Picture
RESISTANCE
SUPPORT
170
167
State Bank of India

Weekly Pivots
SBIN
2535.43
2516.92
2488.48
2469.97
2441.53
Technical Overview
STATE BANK OF INDIA remains volatile all through last week and closed almost flat. It now has resistance level at 2529 and support level at 2444. It is expected to consolidate with positive biasness and to test its resistance level in short term. One may go for the buy on dip strategy till it breaks its support level of 2444.
Technical Picture
RESISTANCE
SUPPORT
2529
2444
Steel Authority of India

Weekly Pivots
SAIL
134.02
132.83
130.97
129.78
127.92
Technical Overview
STEEL AUTHORITY OF INDIA remains negative all through last week and made a weekly low of 128.60. The stock is in major down trend, it has support level at 128 and resistance level at 132. One may hold short position in it till it crosses its resistance level of 134.
Technical Picture
RESISTANCE
SUPPORT
134
128
Sun Pharmaceuticals
Weekly Pivots
SUNPHARMA
521.15
516.7
511.55
507.1
501.95
Technical Overview
SUN PHARMACEUTICALS remains volatile all through last week and closed with moderate gains. The major trend in the stock is bullish. In upcoming session upward movement is expected. It now has next resistance level at 519 and support level at 510. One could go for buy on dip strategy till it breaks its support level of 510.
Technical Picture
RESISTANCE
SUPPORT
519
510
Grasim
Weekly Pivots
GRASIM
2265.9
2243.35
2202.45
2179.9
2139
Technical Overview
The stock showed an up movement during the week and closed with positive biasness. The stock is now facing resistance at 2245 and has support at 2180. As the stock closed with positive biasness a further up move 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
2245
2180
Tata Consultancy Services

Weekly Pivots
TCS
1148.53
1140.97
1133.73
1126.17
1118.93
Technical Overview
TATA CONSULTANCY SERVICES remains sideways all through last week and closed with moderate loss.It now have next resistance level at 1152 and support level at 1119. One could go for short position below its support level.
Technical Picture
RESISTANCE
SUPPORT
1152
1119
Tata Motors
Weekly Pivots
TATAMOTORS
1018.72
1007.83
994.12
983.23
969.52
Technical Overview
TATA MOTORS remains negative all through last week and made a weekly low of 962.75. It now has resistance level at 1005 and support level at 992. It is expected to consolidate with negative biasness in upcoming session. One may hold short position in it till it breaks its resistance level of 1005.
Technical Picture
RESISTANCE
SUPPORT
1005
992
Tata Steel
Weekly Pivots
TATASTEEL
592.85
588.55
582.1
577.8
571.35
Technical Overview
TATA STEEL remains positive all through last week and made a weekly high of 586.40.The major trend in the stock is sideways. In short term upward movement can be expected. It now has support level at 582 and resistance level at 587. One could go for sell on rise strategy in the stock until it crosses 587 in upside.
Technical Picture
RESISTANCE
SUPPORT
587
582
Tata Power Supply

Weekly Pivots
TATAPOWER
1339.58
1320.67
1305.08
1286.17
1270.58
Technical Overview
TATA POWER SUPPLY remains positive all through last week and made a weekly high of 1324. The major trend in the stock is bullish. In short term correction can be expected. It now has next resistance level at 1326 and support level at 1275. One may go for the long position above its resistance level.
Technical Picture
RESISTANCE
SUPPORT
1326
1275
Sesa Goa
Weekly Pivots
SESAGOA
300.32
292.53
279.02
271.23
257.72
Technical Overview
The stock has manages to closed near to the resistance level of 287 from this level further upside of movement would be expected. The closed positive from this level further upside of movement would be expected. One can go for long position in it at 287 for the target of 300.
Technical Picture
RESISTANCE
SUPPORT
287
265
Wipro Corporation
Weekly Pivots
WIPRO
409.92
407.88
404.97
402.93
400.02
Technical Overview
In last week the WIPRO quarter 1 result announces due to which it shown sharp down turn and from last two trading session it shown some correction and moved upward. In upcoming session some more correction can be expected. It now has support level at 392 and resistance level at 407. One may go for the long above its resistance level .
Technical Picture
RESISTANCE
SUPPORT
407
392
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Nifty 50 Reports For The Week (25th - 29th July '11)

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Nifty 50 Reports For The Week (25th - 29th July '11)

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Global Research Limited

Global Research Limited

Figure: 1 : Nifty50 Graph

Global Research Limited

Figure: 2 : Nifty50 Graph

Global Research Limited

Figure: 3 : Nifty50 Graph

Global Research Limited

Bajaj Auto Ltd.

Figure: 4 : Nifty50 Graph

Global Research Limited

Bharat Heavy Electrical

Figure: 5 : Nifty50 Graph

Global Research Limited

Bharat Petroleum Corporation

Figure: 6 : Nifty50 Graph

Global Research Limited

Figure: 7 : Nifty50 Graph

Global Research Limited

Figure: 8 : Nifty50 Graph

Global Research Limited

Figure: 9 : Nifty50 Graph

Global Research Limited

Figure: 10 : Nifty50 Graph

Global Research Limited

Dr. Reddy Laboratories

Figure: 11 : Nifty50 Graph

Global Research Limited

Figure: 12 : Nifty50 Graph

Global Research Limited

Figure: 13 : Nifty50 Graph

Global Research Limited

Figure: 14 : Nifty50 Graph

Global Research Limited

Housing Development Finance

Figure: 15 : Nifty50 Graph

Global Research Limited

Hero Honda Motors

Figure: 16 : Nifty50 Graph

Global Research Limited

Figure: 17 : Nifty50 Graph

Global Research Limited

Figure: 18 : Nifty50 Graph

Global Research Limited

Figure: 19 : Nifty50 Graph

Global Research Limited

Figure: 20 : Nifty50 Graph

Global Research Limited

Figure: 21 : Nifty50 Graph

Global Research Limited

Figure: 22 : Nifty50 Graph

Global Research Limited

Figure: 23 : Nifty50 Graph

Global Research Limited

Jindal Steel & Power

Figure: 24 : Nifty50 Graph

Global Research Limited

Larsen and Turbo

Figure: 25 : Nifty50 Graph

Global Research Limited

Kotak Mahindra Bank

Figure: 26 : Nifty50 Graph