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Nifty 50 Reports for the Week (23rd-27th May '11)
Transcript of Nifty 50 Reports for the Week (23rd-27th May '11)
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NIFTY50NIFTY50
WEEKLY REPORT23rd May - 27th May 2011
Global Research L imited
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Technical Picture
Figure: 1 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had consolidated throughout this week after a steep downfall previously. It now has next support at 960, breach
of this level may continue the bearish trend of the stock else it may also bounce back from lower support levels and has
resistance at 1010, crossing of which will take it further upwards.
STOCK R2 R1 PP S1 S2
9801010
SUPPORTRESISTANCE
ACCACC
Global Research L imited
ACC 1005.68 999.22 992.53 986.07 979.38
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Technical Picture
Figure: 2 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had a consolidated with negative biasness throughout this week and closed below its support level. One could go
for sell on rise strategy in the stock until it crosses the level of 137 in upside.
STOCK R2 R1 PP S1 S2
128137
SUPPORTRESISTANCE
Ambuja CementsAmbuja Cements
Global Research L imited
AMBUJACEM 136.32 133.63 132.07 129.38 127.82
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Axis BankAxis Bank
www.capitalvia.com 4
Technical Picture
Figure: 3 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is moving in a sideways trend currently. It has resistance at 1016; crossing of this level may take the stock further
upwards till the levels of 1030-1045, while it has support at 980, breach of this One has to wait for crossing of levels.
STOCK R2 R1 PP S1 S2
9801016
SUPPORTRESISTANCE
Global Research L imited
AXISBANK 1243.63 1232.27 1220.13 1208.77 1196.63
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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 currently consolidating in a range. Its next resistance is at 1363, crossing of this level may bring some more
upward movement in the stock.
STOCK R2 R1 PP S1 S2
12851363
SUPPORTRESISTANCE
Global Research L imited
1361.47 1346.13 1320.07 1304.73 1278.67BAJAJ AUTO
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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 had an either side movement this week. It managed to cross its resistance and made a high of 2109.40. One could
hold the long positions in the stock as its is expected to continue its uptrend.
STOCK R2 R1 PP S1 S2
20452110.50
SUPPORTRESISTANCE
Global Research L imited
BHEL 2130.4 2104.2 2083.2 2057 2036
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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 had a bearish trend this week. It is expected to consolidate a bit after sharp fall previously. Its next support is at
607, breach of this level may take the stock further down else it may also bounce back from support levels.
STOCK R2 R1 PP S1 S2
607640
SUPPORTRESISTANCE
Global Research L imited
BPCL 638.53 632.12 624.58 618.17 610.63
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Bharti AirtelBharti Airtel
www.capitalvia.com 8
Technical Picture
Figure: 7 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently consolidating; it has support at 363, breach of this level may take the stock further down while it has
resistance at 376.50, crossing of this level may take the stock upward. One has to wait for crossing of levels on either side.
STOCK R2 R1 PP S1 S2
363376.50
SUPPORTRESISTANCE
Global Research L imited
BHARTIARTL 385.62 379.73 372.52 366.63 359.42
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CiplaCipla
www.capitalvia.com 9
Technical Picture
Figure: 8 : Nifty50 Graph
Technical Overview
Weekly Pivots
Cipla had a consolidation throughout the week and had an up rally in last trading session. One could hold the long positions
in the stock as it is expected to continue its up trend in coming trading sessions and may move till the levels of 320-322.
STOCK R2 R1 PP S1 S2
302320
SUPPORTRESISTANCE
Global Research L imited
CIPLA 323.77 319.63 312.57 308.43 301.37
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Cairn IndiaCairn India
www.capitalvia.com 10
Technical Picture
Figure: 9 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is currently facing a range bound movement. It now has major support at 330; breach of this level may take the
stock further down else it may also bounce back.
STOCK R2 R1 PP S1 S2
330345
SUPPORTRESISTANCE
Global Research L imited
CAIRN 344.07 341.98 340.02 337.93 335.97
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DLFDLF
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Technical Picture
Figure: 10 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has successfully taken support at lower levels and managed to reach the mentioned levels last week, its next
resistance is at 235, crossing of this level will take the stock further upwards else it may have some correction also after a
sharp upturn.
STOCK R2 R1 PP S1 S2
217235
SUPPORTRESISTANCE
Global Research L imited
DLF 235.07 231.73 226.12 222.78 217.17
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Dr. Reddy LaboratoriesDr. Reddy Laboratories
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Technical Picture
Figure: 11 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock has shown correction during the week and it is holding support at 1560. Break of support may take the stock
further down. The resistance for the stock is 1615 which is also the 50 day moving average of the stock. If the stocks sustain
at the level of 1560 then a further up movement is expected in the stock.
STOCK R2 R1 PP S1 S2
15601615
SUPPORTRESISTANCE
Global Research L imited
DRREDDY 1636.97 1618.93 1596.97 1578.93 1556.97
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Gail IndiaGail India
www.capitalvia.com 13
Technical Picture
Figure: 12 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week and ended on a negative note. The stock is now facing resistance at 435 and has
support at 418.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
418435
SUPPORTRESISTANCE
Global Research L imited
GAIL 443.17 434.68 427.52 419.03 411.87
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HCL TechnologiesHCL Technologies
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Technical Picture
Figure: 13 : Nifty50 Graph
Technical Overview
Weekly Pivots
The major trend presently in the stock is sideways and the stock ended on a negative note. The stock is now facing
resistance at 510 and has support at 489 which is also a 50 day moving average of the stock. 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
489510
SUPPORTRESISTANCE
Global Research L imited
HCLTECH 511.52 508.73 504.72 501.93 497.92
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HDFC BankHDFC Bank
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Technical Picture
Figure: 14 : Nifty50 Graph
Technical Overview
Weekly Pivots
The trend presently in the stock is sideways and the stock moved up during the week and ended on a positive note. The
stock is facing resistance at 2325 and has support at 2240. Break of resistance may take the stock further up. One may go
for buying the stock once it breaks its resistance.
STOCK R2 R1 PP S1 S2
22402325
SUPPORTRESISTANCE
Global Research L imited
HDFCBANK 2361.63 2338.67 2297.03 2274.07 2232.43
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Housing Development FinanceHousing Development Finance
www.capitalvia.com 16
Technical Picture
Figure: 15 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a recovery during the week. The stock is now facing resistance at 670 and has support at 634. A further
up movement can be expected in the stock once it manages to breaks its resistance. One may go for buying the stock once it
breaks its resistance.
STOCK R2 R1 PP S1 S2
634670
SUPPORTRESISTANCE
Global Research L imited
HDFC 677.48 668.17 654.08 644.77 630.68
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Hero Honda MotorsHero Honda Motors
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Technical Picture
Figure: 16 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed a correction during the week and ended on a positive note. The stock is now facing resistance at 1840
and has support at 1760. Break of resistance may take the stock further up. One may go for buying the stock once it breaks
its resistance.
STOCK R2 R1 PP S1 S2
17601840
SUPPORTRESISTANCE
Global Research L imited
HEROHONDA 1867.32 1838.03 1805.77 1776.48 1744.22
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Hindalco IndustriesHindalco Industries
www.capitalvia.com 18
Technical Picture
Figure: 17 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock moved down during the week. As the stock ended on a positive note a further upside movement can be seen in
the stock once it breaks its resistance. The stock is presently facing resistance at 198 and has support at 185. One can go for
buying the stock once it breaks its resistance.
STOCK R2 R1 PP S1 S2
185198
SUPPORTRESISTANCE
Global Research L imited
HINDALCO 197.53 194.82 192.28 189.57 187.03
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Hindustan UnileverHindustan Unilever
www.capitalvia.com 19
Technical Picture
Figure: 18 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock showed an up movement during the week. A further up movement can be seen in the stock if it breaks its
resistance level. The stock is now facing resistance at 315 and has support at 305. Break of resistance may take the stock
further up. One may go for buying the stock once it breaks its resistance.
STOCK R2 R1 PP S1 S2
305315
SUPPORTRESISTANCE
Global Research L imited
HINDUNILVR 315.03 312.62 310.33 307.92 305.63
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ICICI BankICICI BankWeekly Pivots
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Technical Picture
Figure: 19 : Nifty50 Graph
Technical Overview
Weekly Pivots
The trend presently in the stock is weak and the stock moved down during the week and ended on a positive biasness. The
stock is now facing resistance at 1062 and has support at 1020. A further up movement can be seen in the stock once it
breaks its resistance. One can go for buying above its resistance level.
STOCK R2 R1 PP S1 S2
10201062
SUPPORTRESISTANCE
Global Research L imited
ICICIBANK 1069.87 1056.53 1040.77 1027.43 1011.67
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IDFCIDFC
www.capitalvia.com 21
Technical Picture
Figure: 20 : Nifty50 Graph
Technical Overview
Weekly Pivots
IDFC was in major downtrend from last many sessions but in last week it recovered little and closed with moderate gain.
Now the stock has resistance level at 142 and support level at 129. The positive trend seems to continue in the stock in short
term.
STOCK R2 R1 PP S1 S2
129142
SUPPORTRESISTANCE
Global Research L imited
IDFC 143.3 140.3 136.3 133.3 129.3
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Infosys TechnologiesInfosys Technologies
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Technical Picture
Figure: 21 : Nifty50 Graph
Technical Overview
Weekly Pivots
INFOSYS has been consolidating with negative biasness from last many sessions and last week it continued the same. The
stock is in major down trend, it has support level at 2785 and it may bounce back taking support from this level. It has
resistance level at 2883.
STOCK R2 R1 PP S1 S2
27852883
SUPPORTRESISTANCE
Global Research L imited
INFOSYSTCH 2880.12 2864.98 2848.57 2833.43 2817.02
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ITCITC
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Technical Picture
Figure: 22 : Nifty50 Graph
Technical Overview
Weekly Pivots
ITC is in sideways trend from few previous weeks and in last week it traded in tight range. The stock has resistance level at
192 and support level at 182. The major trend is positive for the stock, and it is expected to continue this. Also crossing of
resistance level of 192, may take this stock further up.
STOCK R2 R1 PP S1 S2
182192
SUPPORTRESISTANCE
Global Research L imited
ITC 195.02 190.78 187.27 183.03 179.52
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Jaiprakash AssociatesJaiprakash Associates
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Technical Picture
Figure: 23 : Nifty50 Graph
Technical Overview
Weekly Pivots
JP ASSOCIATES showed bearish phase last week and closed with moderate losses. The stock has support level at 80 and
below this level further it is looking weak. Although it continues to sustain above support level of 80, a bounce back may be
seen in it. It has resistance level at 83.
STOCK R2 R1 PP S1 S2
8083
SUPPORTRESISTANCE
Global Research L imited
JPASSOCIAT 83.73 82.77 81.83 80.87 79.93
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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 is in consolidation phase and trading in tight range. The stock has resistance level at 656 and
support level at 626. It is expected to consolidate with positive biasness in the coming session and above the resistance level
of 656 upside movements can be expected in it.
STOCK R2 R1 PP S1 S2
626656
SUPPORTRESISTANCE
Global Research L imited
JINDALSTEL 649.25 644.95 641.4 637.1 633.55
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Larsen and TurboLarsen and Turbo
www.capitalvia.com 26
Technical Picture
Figure: 25 : Nifty50 Graph
Technical Overview
Weekly Pivots
L&T remained very volatile in last week because of the quarterly results announced. The stock had a sharp up rally. One
should wait for sometime before entering in this stock as it may show volatility.
STOCK R2 R1 PP S1 S2
15701672
SUPPORTRESISTANCE
Global Research L imited
LT 1703.42 1677.83 1644.42 1618.83 1585.42
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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 remained sideways and traded in tight range during last week. The stock has support level at 407
and resistance level at 425. It is expected to consolidate with positive biasness, and above the resistance level positive
movements may continue in short term.
STOCK R2 R1 PP S1 S2
407425
SUPPORTRESISTANCE
Global Research L imited
KOTAKBANK 426.68 421.82 415.93 411.07 405.18
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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 remained volatile during last week and closed flat. Now the stock has support level at 672 and resistance level at 700.
It is in recovery phase from last few sessions and in short term it is expected to continue the same.
STOCK R2 R1 PP S1 S2
672700
SUPPORTRESISTANCE
Global Research L imited
M&M 706.22 698.53 686.02 678.33 665.82
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Maruti Suzuki IndiaMaruti Suzuki India
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Technical Picture
Figure: 28 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock is moving in a sideways trend currently. It has resistance at 1016; crossing of this level may take the stock further
upwards till the levels of 1030-1045, while it has support at 980, breach of this One has to wait for crossing of levels.
STOCK R2 R1 PP S1 S2
12001245
SUPPORTRESISTANCE
Global Research L imited
MARUTI 1255.47 1239.33 1224.67 1208.53 1193.87
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NTPC Ltd.NTPC Ltd.
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Technical Picture
Figure: 29 : Nifty50 Graph
Technical Overview
Weekly Pivots
NTPC showed negative biasness in last week, though it recovered in later session. The stock has support level at 168 and
resistance level at 177. It is expected to show consolidation with positive biasness in near term and above the resistance
level at 177 it is looking strong on charts.
STOCK R2 R1 PP S1 S2
168177
SUPPORTRESISTANCE
Global Research L imited
NTPC 177.27 175.03 172.52 170.28 167.77
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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 battered down to the level of 267.50 and it is now trading at 273.95, from this level either side of movement would
be expected. It is looking weak on charts. One can go for short position in it at 266 for the target of 245.
STOCK R2 R1 PP S1 S2
260285
SUPPORTRESISTANCE
Global Research L imited
ONGC 291.98 282.97 275.23 266.22 258.48
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Power Grid Corporation of IndiaPower Grid Corporation of India
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Technical Picture
Figure: 31 : Nifty50 Graph
Technical Overview
Weekly Pivots
In today's trading session it was up by 2.18 %. It is now taking support at 97 and resistance 102, form this level further
downside of movement would be expected. One can go for short position in it at 97 for the target of 90.
STOCK R2 R1 PP S1 S2
97102
SUPPORTRESISTANCE
Global Research L imited
POWERGRID 103.57 102.28 100.32 99.03 97.07
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Punjab National BankPunjab National Bank
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Technical Picture
Figure: 32 : Nifty50 Graph
Technical Overview
Weekly Pivots
After making a high of 1101.90 it is continuously moving in a downward trend, it is now trading at 1033.55 and it was
down by -0.23 %. It has resistance at 1070 and support at 1026. It is looking bearish in the coming trading session if it
manages to trade below the support level of 1026 else above 1070 it would be in a bullish trend.
STOCK R2 R1 PP S1 S2
10261070
SUPPORTRESISTANCE
Global Research L imited
PNB 1058.18 1045.87 1036.48 1024.17 1014.78
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Ranbaxy LaboratoriesRanbaxy Laboratories
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Technical Picture
Figure: 33 : Nifty50 Graph
Technical Overview
Weekly Pivots
In today's trading session it was moving in an upward trend. It is now trading at 498 from this level further downside of
movement would be expected. In order to be in an upward trend it has to trade and consolidate above the 10 days and 50
days moving averages. One can go for short position in it at 480 for the target of 460.
STOCK R2 R1 PP S1 S2
480530
SUPPORTRESISTANCE
Global Research L imited
RANBAXY 513.02 505.63 493.52 486.13 474.02
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Reliance CapitalReliance Capital
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Technical Picture
Figure: 34 : Nifty50 Graph
Technical Overview
Weekly Pivots
Reliance capital from the last few trading session moving sideways and in today's trading session it was up by 1.23%. It is
now taking support at 498 and resistance at 525. One can go for short position in it at 498 below this level it would be in a
downward trend.
STOCK R2 R1 PP S1 S2
498525
SUPPORTRESISTANCE
Global Research L imited
RELCAPITAL 520.83 514.97 508.98 503.12 497.13
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Reliance CommunicationsReliance Communications
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Technical Picture
Figure: 35 : Nifty50 Graph
Technical Overview
Weekly Pivots
In today's trading session it manages to trade and close below the 10 days and 50 days moving averages. It is now taking
support at 82 and resistance at 95. It is looking bearish in the coming trading session; one can go for short position in it at 82
for the target of 75.
STOCK R2 R1 PP S1 S2
8288
SUPPORTRESISTANCE
Global Research L imited
RCOM 86.63 85.27 83.63 82.27 80.63
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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 968 and support at 885. It is looking strong on charts from this level further upside of movement
would be expected, one can go for long position in at 968 above this level it would be in an upward trend else below 885 it
would be in a downward trend.
STOCK R2 R1 PP S1 S2
885968
SUPPORTRESISTANCE
Global Research L imited
RELIANCE 935.27 929.23 919.77 913.73 904.27
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Reliance InfrastructureReliance Infrastructure
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Technical Picture
Figure: 37 : Nifty50 Graph
Technical Overview
Weekly Pivots
It is now taking support at 549 and resistance at 623. It is now trading at 569.05; from this level further downside of
movement would be expected. Once can go for short position in it at 549 below this level it might be in a bearish trend.
STOCK R2 R1 PP S1 S2
549623
SUPPORTRESISTANCE
Global Research L imited
RELINFRA 583.65 576.35 564.7 557.4 545.75
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Reliance PowerReliance Power
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Technical Picture
Figure: 38 : Nifty50 Graph
Technical Overview
Weekly Pivots
Reliance Power battered down to the level of 107.85, from this level it made a smart recovery and made a high of 113.80. In
order to be in an upward trend it has to trade and consolidate above the 10 days and 50 days moving averages. It looking
strong on chart, one can go for long position in it at 115 for the target of 130.
STOCK R2 R1 PP S1 S2
106115
SUPPORTRESISTANCE
Global Research L imited
RPOWER 116.4 114.55 111.95 110.1 107.5
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Siemens IndiaSiemens India
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Technical Picture
Figure: 39 : Nifty50 Graph
Technical Overview
Weekly Pivots
In today's trading session it manages to trade above the resistance level of 858 and made a high of 866. It is now trading at
862.70 and close near to the resistance level of 866, from this level further upside of movement would be expected. One
can go for long position in it at 866 above this level it would be in an upward trend.
STOCK R2 R1 PP S1 S2
835866
SUPPORTRESISTANCE
Global Research L imited
SIEMENS 878.77 870.73 857.97 849.93 837.17
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Sterlite Industries IndiaSterlite Industries India
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Technical Picture
Figure: 40 : Nifty50 Graph
Technical Overview
Weekly Pivots
In today's trading session it manages to trade and close below the 10 days and 50 days moving averages and it is now
trading at 168.25, from this level further upside of movement would be expected. It is now taking support at 166 and
resistance at 171. One can go for long position in it at 171 for the target of 180.
STOCK R2 R1 PP S1 S2
166171
SUPPORTRESISTANCE
Global Research L imited
STER 171.92 170.08 168.52 166.68 165.12
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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
SBI drifted to the 2310.40 and it was down by -0.08 %. It is now taking support at 2290 below this further downside of
movement would be expected else above 2330 it would be in an upward trend. One can go for long position in it at 2330
for the target of 2375-2380.
STOCK R2 R1 PP S1 S2
22902330
SUPPORTRESISTANCE
Global Research L imited
SBIN 2378.68 2349.57 2329.98 2300.87 2281.28
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Steel Authority of IndiaSteel Authority of India
www.capitalvia.com 44
Technical Picture
Figure: 43 : Nifty50 Graph
Technical Overview
Weekly Pivots
A positive opening made it to trade above the resistance level of 146, from this level further upward movement would be
expected. It is now taking support at 139 and resistance at 146.It is looking positive in the coming trading session if it
manages to trade and close above the resistance level of 146 else below 139 it would might face more selling pressure.
STOCK R2 R1 PP S1 S2
140146
SUPPORTRESISTANCE
Global Research L imited
SAIL 148.93 145.77 142.63 139.47 136.33
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Sun PharmaceuticalsSun Pharmaceuticals
www.capitalvia.com 45
Technical Picture
Figure: 44 : Nifty50 Graph
Technical Overview
Weekly Pivots
Sun Pharma is looking weak on chart; it is now taking support at 422 and resistance at 452. It is looking bearish in the
coming trading session if it manages to trade below the support level of 422 else above 452 it would be in an upward trend.
STOCK R2 R1 PP S1 S2
422452
SUPPORTRESISTANCE
Global Research L imited
SUNPHARMA 449.45 444.35 435.8 430.7 422.15
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GrasimGrasim
www.capitalvia.com 46
Technical Picture
Figure: 45 : Nifty50 Graph
Technical Overview
Weekly Pivots
The major trend in the stock is down and it moved down during the week but ended on a positive note. The stock is
presently facing resistance at 2280 and has support at 2200. Some recovery in the stock can be seen once it breaks its
resistance. One can go for buying the stock once it breaks its resistance
STOCK R2 R1 PP S1 S2
22002280
SUPPORTRESISTANCE
Global Research L imited
GRASIM 2293.35 2275.8 2257.4 2239.85 2221.45
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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 is currently moving in an uptrend. Its next major resistance is at 1183.50, crossing of this level will take the stock
further up else it may also resist at these levels and show some correction in coming trading session.
STOCK R2 R1 PP S1 S2
11421183.50
SUPPORTRESISTANCE
Global Research L imited
TCS 1194.03 1184.52 1173.88 1164.37 1153.73
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Tata MotorsTata Motors
www.capitalvia.com 48
Technical Picture
Figure: 47 : Nifty50 Graph
Technical Overview
Weekly Pivots
The stock had an either side movement this week. 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 1135-1125 in near term.
STOCK R2 R1 PP S1 S2
11351169
SUPPORTRESISTANCE
Global Research L imited
TATAMOTORS 1197.95 1183.3 1167.25 1152.6 1136.55
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Tata SteelTata Steel
www.capitalvia.com 49
Technical Picture
Figure: 48 : Nifty50 Graph
Technical Overview
Weekly Pivots
Tata steel moved in a bearish trend this week. it has major support at 555, it is trying to take support at this level and
managed to recover a bit in today's trading session. Its next resistance is at 585, crossing of this level will take the stock
further upwards.
STOCK R2 R1 PP S1 S2
555585
SUPPORTRESISTANCE
Global Research L imited
TATASTEEL 596.12 587.83 575.42 567.13 554.72
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Tata Power SupplyTata Power Supply
www.capitalvia.com 50
Technical Picture
Figure: 49 : Nifty50 Graph
Technical Overview
Weekly Pivots
Tata Power is currently showing sideways movement and is trading in a tight range. The stock has resistance level at 1245
and support level at 1215. In short term it is expected to remain range bound, one should wait for proper breakout in it as
either side movements can be seen.
STOCK R2 R1 PP S1 S2
12061263
SUPPORTRESISTANCE
Global Research L imited
TATAPOWE R 1271.45 1253.9 1238.45 1220.9 1205.45
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Sesa GoaSesa Goa
www.capitalvia.com 51
Technical Picture
Figure: 50 : Nifty50 Graph
Technical Overview
Weekly Pivots
It is now taking support at 285 and resistance at 370. 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 trading at 293.15, form this level either side of movement would be
expected, below support level of 285 it would might face more selling pressure else above 307 it would be in an upward
trend.
STOCK R2 R1 PP S1 S2
285307
SUPPORTRESISTANCE
Global Research L imited
SESAGOA 304.78 298.97 293.88 288.07 282.98
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