Nifty 50 Reports for the Week (20th - 24th June '11)
Transcript of Nifty 50 Reports for the Week (20th - 24th June '11)
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NIFTY50NIFTY50
WEEKLY REPORT20th June - 24th June 2011
Global Research L imited
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Technical Picture
Figure: 1 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock managed to breach its support level this week and had a bearish trend. One could hold the short positions in the
stock as it is expected to continue its bearish trend and may move till the levels of 940-930 in coming trading sessions.
STOCK R2 R1 PP S1 S2
940990
SUPPORTRESISTANCE
ACCACC
Global Research L imited
ACC 983.18 971.52 962.33 950.67 941.48
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Technical Picture
Figure: 2 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved in a bearish trend this week. Its next major support is at 122, breach of this level may take the stock further
down else it may also bounce back from lower support levels.
STOCK R2 R1 PP S1 S2
122131
SUPPORTRESISTANCE
Ambuja CementsAmbuja Cements
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AMBUJACEM 131.55 129.85 127.2 125.5 122.85
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Axis BankAxis Bank
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Technical Picture
Figure: 3 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently consolidating with positive biasness. One can go for buying on dip strategy in the stock till it breaches
the level of 1205 in downside as it is expected to move till the levels of 1280-1285 in coming trading sessions.
STOCK R2 R1 PP S1 S2
12051285
SUPPORTRESISTANCE
Global Research L imited
AXISBANK 1258.12 1240.33 1226.92 1209.13 1195.72
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Bajaj Auto Ltd.Bajaj Auto Ltd.
www.capitalvia.com 5
Technical Picture
Figure: 4 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is consolidating currently. One could still hold the long positions in the stock until it breaches the level of 1319 in
downside as it is expected to continue its bullish trend and may move till the levels of 1385-1390 in near term.
STOCK R2 R1 PP S1 S2
13281390
SUPPORTRESISTANCE
Global Research L imited
BAJAJ-AUTO 1379.33 1361.02 1346.13 1327.82 1312.93
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Bharat Heavy ElectricalBharat Heavy Electrical
www.capitalvia.com 6
Technical Picture
Figure: 5 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently consolidating from last a few weeks after a sharp fall previously. Now the stock's next support is at
level of 1900, breach of this level will continue its bearish trend while it may also bounce back from its major support levels
STOCK R2 R1 PP S1 S2
19001975
SUPPORTRESISTANCE
Global Research L imited
BHEL 1962.7 1949.95 1939.25 1926.5 1915.8
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Bharat Petroleum CorporationBharat Petroleum Corporation
www.capitalvia.com 7
Technical Picture
Figure: 6 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved with positive biasness this week. Its next resistance level is at 639, crossing of this level will take the stock
further upwards.
STOCK R2 R1 PP S1 S2
613639
SUPPORTRESISTANCE
Global Research L imited
BPCL 647.63 639.27 629.73 621.37 611.83
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Bharti AirtelBharti Airtel
www.capitalvia.com 8
Technical Picture
Figure: 7 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is consolidating currently. It now faces next resistance at 385, crossing of this level may take the stock further
upwards else it has support at 370, breach of which may take the stock downwards.
STOCK R2 R1 PP S1 S2
370385
SUPPORTRESISTANCE
Global Research L imited
BHARTIARTL 389.98 385.27 377.23 372.52 364.48
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CiplaCipla
www.capitalvia.com 9
Technical Picture
Figure: 8 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently correcting after having an up rally previously.. One could still hold the long positions in the stock until it
breaches the support level of 323 in downside. As it may take a bounce from this level else breach of this level will take the
stock further downwards.
STOCK R2 R1 PP S1 S2
323345
SUPPORTRESISTANCE
Global Research L imited
CIPLA 336.33 332.37 328.18 324.22 320.03
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Cairn IndiaCairn India
www.capitalvia.com 10
Technical Picture
Figure: 9 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock today managed to breach its support level and had a steep downfall. it is now expected to move till the levels of
319 in downside.
STOCK R2 R1 PP S1 S2
319335
SUPPORTRESISTANCE
Global Research L imited
CAIRN 338.15 331.5 326.8 320.15 315.45
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HCL TechnologiesHCL Technologies
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Technical Picture
Figure: 13 : Nifty50 Graph
Technical Overview
Weekly Pivots
The major trend in the stock is weak and it moved down during the week and ended negative. The stock is now facing
resistance at 500 and has support at 468. 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.
STOCK R2 R1 PP S1 S2
468500
SUPPORTRESISTANCE
Global Research L imited
HCLTECH 501.05 490.5 482.75 472.2 464.45
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HDFC BankHDFC Bank
www.capitalvia.com 15
Technical Picture
Figure: 14 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and closed with positive biasness. The trend presently in the stock is sideways.
The stock is now facing resistance at 2400 and has support at 2320 which is the 50 day moving average of the stock. 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.
STOCK R2 R1 PP S1 S2
23202400
SUPPORTRESISTANCE
Global Research L imited
HDFCBANK 2382.13 2365.72 2349.68 2333.27 2317.23
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Housing Development FinanceHousing Development Finance
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Technical Picture
Figure: 15 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and on the last day of trading it ended on a negative note. The trend presently
in the stock is weak. As the stock closed with negative biasness a further down movement can be seen in the stock once it
breaks its support level. The stock is now facing resistance at 657 and has support at 625. Break of support may take the
stock further down. One may go for selling the stock once it breaks its support level.
STOCK R2 R1 PP S1 S2
625657
SUPPORTRESISTANCE
Global Research L imited
HDFC 661.85 650.25 642.9 631.3 623.95
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Hero Honda MotorsHero Honda Motors
www.capitalvia.com 17
Technical Picture
Figure: 16 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and ended on a negative note. The stock is now facing resistance at 1760 and
has support at 1690. 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 level.
STOCK R2 R1 PP S1 S2
16901760
SUPPORTRESISTANCE
Global Research L imited
HEROHONDA 1753.87 1742.78 1733.92 1722.83 1713.97
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Hindalco IndustriesHindalco Industries
www.capitalvia.com 18
Technical Picture
Figure: 17 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a continuous down movement during the week and closed with negative biasness. The trend presently in
the stock is weak. The stock is now facing resistance at 175 and has support at 165. Break of support may take the stock
further down. One may go for selling the stock once it breaks its support level.
STOCK R2 R1 PP S1 S2
165175
SUPPORTRESISTANCE
Global Research L imited
HINDALCO 179.62 174.73 170.72 165.83 161.82
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Hindustan UnileverHindustan Unilever
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Technical Picture
Figure: 18 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a continuous up movement during the week and ended on a positive note. The stock is now facing
resistance at 328 and has support at 315 which is the 10 day moving average of the stock. 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.
STOCK R2 R1 PP S1 S2
315328
SUPPORTRESISTANCE
Global Research L imited
HINDUNILVR 330.8 325.85 321.55 316.6 312.3
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ICICI BankICICI BankWeekly Pivots
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Technical Picture
Figure: 19 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock was consolidating during the week and closed with positive biasness. The stock is now facing resistance at 1055
and has support at 1013. 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.
STOCK R2 R1 PP S1 S2
10131055
SUPPORTRESISTANCE
Global Research L imited
ICICIBANK 1047.9 1040.05 1032.05 1024.2 1016.2
1013
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IDFCIDFC
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Technical Picture
Figure: 20 : Nifty50 Graph
Technical Overview
Weekly Pivots
IDFC is in major downtrend and last week it continued the same making weekly low of 118.30 and closed with the weekly
loss of 10.42%. The stock now has resistance level at 124 and support level at 115. In short term it is expected to continue
its negative biasness and to test its support level.
STOCK R2 R1 PP S1 S2
115124
SUPPORTRESISTANCE
Global Research L imited
IDFC 123.02 121.23 119.77 117.98 116.52
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Infosys TechnologiesInfosys Technologies
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Technical Picture
Figure: 21 : Nifty50 Graph
Technical Overview
Weekly Pivots
INFOSYS showed continued down rally in last week and made weekly low of 2731.30. The stock has resistance level at
2810 and support level at 2715. Some recovery may be expected in the stock in the short term.
STOCK R2 R1 PP S1 S2
27152810
SUPPORTRESISTANCE
Global Research L imited
INFOSYSTCH 2840.15 2804.9 2768.1 2732.85 2696.05
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ITCITC
www.capitalvia.com 23
Technical Picture
Figure: 22 : Nifty50 Graph
Technical Overview
Weekly Pivots
ITC had volatile trading session last week and it closed almost flat. The stock may take resistance from the level of 197 and it
has support level at 189. In short term some correction may be expected in the stock.
STOCK R2 R1 PP S1 S2
189197
SUPPORTRESISTANCE
Global Research L imited
ITC 197.45 194.6 192.95 190.1 188.45
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Jaiprakash AssociatesJaiprakash Associates
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Technical Picture
Figure: 23 : Nifty50 Graph
Technical Overview
Weekly Pivots
JP ASSOCIATES had volatile trading session during last week and closed almost flat. The stock has resistance level at 85 and
support level at 79. In short term it is expected to consolidate with negative biasness and may test its support level.
STOCK R2 R1 PP S1 S2
7985
SUPPORTRESISTANCE
Global Research L imited
JPASSOCIAT 84.6 83 82.05 80.45 79.5
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Jindal Steel & PowerJindal Steel & Power
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Technical Picture
Figure: 24 : Nifty50 Graph
Technical Overview
Weekly Pivots
JINDAL STEEL AND POWER had volatile trading session last week and it closed almost flat. The stock has resistance level at
647 and support level at 623. It is expected to consolidate with negative biasness and to test its support level in short term.
STOCK R2 R1 PP S1 S2
623647
SUPPORTRESISTANCE
Global Research L imited
JINDALSTEL 642.8 637.9 633.45 628.55 624.1
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Larsen and TurboLarsen and Turbo
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Technical Picture
Figure: 25 : Nifty50 Graph
Technical Overview
Weekly Pivots
L&T had volatile trading session during last week and it closed with overall losses. The stock has resistance level at 1737 and
support level at 1654. In short term it is expected to show some correction and to test its support level.
STOCK R2 R1 PP S1 S2
16541737
SUPPORTRESISTANCE
Global Research L imited
LT 1711.03 1695.47 1678.73 1663.17 1646.43
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Kotak Mahindra BankKotak Mahindra Bank
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Technical Picture
Figure: 26 : Nifty50 Graph
Technical Overview
Weekly Pivots
KOTAK MAHINDRA BANK had volatile trading session last week and closed with moderate gain. The stock has support level
at 428 and resistance level at 452. It is expected consolidate and remain range bound in short term.
STOCK R2 R1 PP S1 S2
428452
SUPPORTRESISTANCE
Global Research L imited
KOTAKBANK 452.43 446.17 441.58 435.32 430.73
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Mahindra and MahindraMahindra and Mahindra
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Technical Picture
Figure: 27 : Nifty50 Graph
Technical Overview
Weekly Pivots
M&M showed volatile trading session last week and closed with overall losses, making weekly low of 641.85. The stock has
support level at 638 and resistance level at 670. It is expected to consolidate with negative biasness in the short term.
STOCK R2 R1 PP S1 S2
638670
SUPPORTRESISTANCE
Global Research L imited
M&M 666.8 655.45 648.65 637.3 630.5
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Maruti Suzuki IndiaMaruti Suzuki India
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Technical Picture
Figure: 28 : Nifty50 Graph
Technical Overview
Weekly Pivots
MARUTI showed negative side movement all through the previous week and made weekly low of 1161.30. The stock has
resistance level at 1230 and support level at 1155. In short term it is expected to consolidate with negative biasness and to
test its support level.
STOCK R2 R1 PP S1 S2
11551230
SUPPORTRESISTANCE
Global Research L imited
MARUTI 1256.8 1210.9 1186.1 1140.2 1115.4
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NTPC Ltd.NTPC Ltd.
www.capitalvia.com 30
Technical Picture
Figure: 29 : Nifty50 Graph
Technical Overview
Weekly Pivots
NTPC had volatile trading session last week and it traded in tight range. The stock has support level at 174 and resistance
level at 121. In short term it is expected to consolidate with positive biasness and to test its resistance level.
STOCK R2 R1 PP S1 S2
174182
SUPPORTRESISTANCE
Global Research L imited
NTPC 182.3 180.6 177.7 176 173.1
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Oil and Natural Gas CorpOil and Natural Gas Corp
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Technical Picture
Figure: 30 : Nifty50 Graph
Technical Overview
Weekly Pivots
ONGC is trading in a short term downward trend and it is now trading at 265.80, in today's trading session it made a low of
263. The stock may reach to the level of 245 in the coming trading session. The stock has a resistance level of 272 and
support at 260. It is looking bearish in the coming trading session; one can go for short position in it at 260 for the target of
230.
STOCK R2 R1 PP S1 S2
260272
SUPPORTRESISTANCE
Global Research L imited
ONGC 270.27 268.03 265.52 263.28 260.77
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Punjab National BankPunjab National Bank
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Technical Picture
Figure: 32 : Nifty50 Graph
Technical Overview
Weekly Pivots
The scrip is trading sideways and showing momentum strength below 1039. It is now trading at 1049.80; from this level
further downside of movement would be expected. In order to be in a downward trend it has to trade and consolidate
below the 10 days and 50 days moving averages. One can go for short position in it at 1039 for the target of 1005.
STOCK R2 R1 PP S1 S2
10391065
SUPPORTRESISTANCE
Global Research L imited
PNB 1065.93 1057.87 1048.93 1040.87 1031.93
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Ranbaxy LaboratoriesRanbaxy Laboratories
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Technical Picture
Figure: 33 : Nifty50 Graph
Technical Overview
Weekly Pivots
Ranbaxy traded above its 10 days and 50 days moving averages with good volume and closed at 536.25; from this level
either downside of movement would be expected. The stock may reach to the level of 550 if it manages to trade above the
resistance level of 550, above this level it might be in an upward trend.
STOCK R2 R1 PP S1 S2
530550
SUPPORTRESISTANCE
Global Research L imited
RANBAXY 546.22 541.23 538.02 533.03 529.82
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Reliance CapitalReliance Capital
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Technical Picture
Figure: 34 : Nifty50 Graph
Technical Overview
Weekly Pivots
Reliance capital in today's trading session manages to trade and close above the 10 days and 50 days moving averages and
it was down by 1.75 %. It is now taking support at 540 and resistance at 561. One can go for long position in it at 561 above
this level it would be in an upward trend.
STOCK R2 R1 PP S1 S2
540561
SUPPORTRESISTANCE
Global Research L imited
RELCAPITAL 567.18 556.57 549.28 538.67 531.38
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Reliance CommunicationsReliance Communications
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Technical Picture
Figure: 35 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is moving sideways; form this level either side of movement would be expected. It is looking bullish in the coming
trading session if it manages to trade and consolidate above the 10 days and 50 days moving averages. One can go for long
position in it at 97 for the target of 105.
STOCK R2 R1 PP S1 S2
9097
SUPPORTRESISTANCE
Global Research L imited
RCOM 97.43 96.32 94.53 93.42 91.63
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Reliance IndustriesReliance Industries
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Technical Picture
Figure: 36 : Nifty50 Graph
Technical Overview
Weekly Pivots
It is taking resistance at 900 and support at 865, a negative opening made it to trade below the 10 days and 50 days moving
averages. It is looking weak on charts from this level further downside of movement would be expected, one can go for
short position in at 865 below this level it would be in a downward trend else above 900 it might be in an upward trend.
STOCK R2 R1 PP S1 S2
865900
SUPPORTRESISTANCE
Global Research L imited
RELIANCE 903.85 886.3 875.75 858.2 847.65
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Reliance InfrastructureReliance Infrastructure
www.capitalvia.com 38
Technical Picture
Figure: 37 : Nifty50 Graph
Technical Overview
Weekly Pivots
It is now taking support at 570 and resistance at 600. The stock is trading in a short term up trend and in today's trading
session it manage to trade and close above the 10 days and 50 days moving averages. It is looking bullish in the coming
trading session if it manages to trade above the resistance level of 600 else below 570 it might be in a downward trend.
STOCK R2 R1 PP S1 S2
570600
SUPPORTRESISTANCE
Global Research L imited
RELINFRA 590.77 585.78 580.02 575.03 569.27
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Reliance PowerReliance Power
www.capitalvia.com 39
Technical Picture
Figure: 38 : Nifty50 Graph
Technical Overview
Weekly Pivots
Reliance Power had been moving between ranges of 114 to 118, in today's trading session it manages to break the range
and made a low of 113.65; from this level further downside of movement would be expected. It is taking support at 113
below this level it would be in a downward trend else above 118 it would be bullish.
STOCK R2 R1 PP S1 S2
115118
SUPPORTRESISTANCE
Global Research L imited
RPOWER 118.55 116.95 115.3 113.7 112.05
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Siemens IndiaSiemens India
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Technical Picture
Figure: 39 : Nifty50 Graph
Technical Overview
Weekly Pivots
SIEMENS remained volatile last week and closed almost flat. The stock has support level at 861 and resistance level at 890. It
is expected consolidate with positive biasness in short term. As the stock is looking indecisive one should wait for a proper
breakout before entering in it.
STOCK R2 R1 PP S1 S2
861890
SUPPORTRESISTANCE
Global Research L imited
SIEMENS 878.73 874.47 870.73 866.47 862.73
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Sterlite Industries IndiaSterlite Industries India
www.capitalvia.com 41
Technical Picture
Figure: 40 : Nifty50 Graph
Technical Overview
Weekly Pivots
STERLITE INDUSTRIES has been consolidating with negative biasness from last many sessions and last week also it remained
negative. The stock is in major down trend, it has support level at 156 and resistance level at 161. In short term it is
expected to consolidate and remain within the range. One could go for sell on rise strategy in the stock until it crosses 161 in
upside.
STOCK R2 R1 PP S1 S2
156161
SUPPORTRESISTANCE
Global Research L imited
STER 162.18 160.02 158.68 156.52 155.18
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State Bank of IndiaState Bank of India
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Technical Picture
Figure: 41 : Nifty50 Graph
Technical Overview
Weekly Pivots
STATE BANK OF INDIA remained volatile all through last week and closed with moderate losses. The stock has resistance
level at 2225 and support level at 2161. It is expected to consolidate with negative biasness and to test its support level in
short term.
STOCK R2 R1 PP S1 S2
21612225
SUPPORTRESISTANCE
Global Research L imited
SBIN 2240.23 2226.67 2207.73 2194.17 2175.23
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Steel Authority of IndiaSteel Authority of India
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Technical Picture
Figure: 43 : Nifty50 Graph
Technical Overview
Weekly Pivots
It is now taking support at 143 and resistance at 152.It is looking weak on charts, if it manages to trade below the support
level of 143, below this level it would be in a downtrend.
STOCK R2 R1 PP S1 S2
136140
SUPPORTRESISTANCE
Global Research L imited
SAIL 138.65 137.5 136.75 135.6 134.85
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Sun PharmaceuticalsSun Pharmaceuticals
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Technical Picture
Figure: 44 : Nifty50 Graph
Technical Overview
Weekly Pivots
SUN PHARMACEUTICALS remained volatile all through last week and closed with moderate gain. The stock has resistance
level at 500 and support level at 466. It is expected to consolidate with positive biasness and to test its resistance level in
short term.
STOCK R2 R1 PP S1 S2
466500
SUPPORTRESISTANCE
Global Research L imited
SUNPHARMA 505.95 491.85 482.35 468.25 458.75
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GrasimGrasim
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Technical Picture
Figure: 45 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week continuing its down trend. The stock is now facing resistance at 2200 and has
support at 2040. As the stock ended on a 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.
STOCK R2 R1 PP S1 S2
20402200
SUPPORTRESISTANCE
Global Research L imited
GRASIM 2197.43 2152.02 2123.28 2077.87 2049.13
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Tata Consultancy ServicesTata Consultancy Services
www.capitalvia.com 47
Technical Picture
Figure: 46 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a continuous down movement during the week and closed with negative biasness. The stock is now
facing resistance at 1157 and has support at 1090.Break of support may take the stock further down. One may go for
selling the stock once it breaks its support.
STOCK R2 R1 PP S1 S2
10901157
SUPPORTRESISTANCE
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TCS 1176.4 1142.8 1123.4 1089.8 1070.4
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Tata MotorsTata Motors
www.capitalvia.com 48
Technical Picture
Figure: 47 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week and closed on a negative note. The stock is now facing resistance at 1015 and has
support at 970. The stock is close to its support and break of which may take the stock further down. One may go for selling
the stock once it breaks its support.
STOCK R2 R1 PP S1 S2
9701015
SUPPORTRESISTANCE
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TATAMOTORS 999.65 990.3 983.25 973.9 966.85
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Tata SteelTata Steel
www.capitalvia.com 49
Technical Picture
Figure: 48 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the earlier trading days and on the last trading session a good recovery was seen in the stock
and closed with positive biasness. The stock is now facing resistance at 580 and has support at 565. Break of resistance may
take the stock further up.
STOCK R2 R1 PP S1 S2
565580
SUPPORTRESISTANCE
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TATASTEEL 582.75 577.9 570.45 565.6 558.15
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Sesa GoaSesa Goa
www.capitalvia.com 51
Technical Picture
Figure: 50 : Nifty50 Graph
Technical Overview
Weekly Pivots
After making a high of 285.80 it is continuously in a downward trend. It is now taking support at 279 and resistance at 287.
It is now trading at 272.10, form this level further downside of movement would be expected. One can go for short position
in it at 270 for the target of 260.
STOCK R2 R1 PP S1 S2
279287
SUPPORTRESISTANCE
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SESAGOA 287.57 279.83 275.47 267.73 263.37
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Wipro CorporationWipro Corporation
www.capitalvia.com 52
Technical Picture
Figure: 51 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week and closed with negative biasness. The stock is now facing resistance at 420 and
has support at 402. Break of support may take the stock further down. One may go for selling the stock once it breaks its
support level.
STOCK R2 R1 PP S1 S2
402420
SUPPORTRESISTANCE
Global Research L imitedGlobal Research L imited
WIPRO 422.82 415.83 411.92 404.93 401.02
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