Weekly Technical Report
F O R P R I V A T E C I R C U L A T I O N O N L Y
05 January 2009
NIFTY Intra Week
Volatility S1 S2 R1 R2
3046.75
291 pts 2929.85 2814.60 3146.75 3246.70
SENSEX Intra Week Volatility
S1 S2 R1 R2
9903.46 920 pts
9662.20 9315.00 10190.85 10570.60
S&P Nifty (3046.75 points)
(+189.50 pts)
TREND Direction Short Term SW Medium Term Long Term DN DN
As anticipated in the last week’s report, the Bulls defended their level of 2800 points. First short covering and later sustained buying above 2915 led to a steady recovery of 6% on the benchmark Indices. Among Sectoral Indices, Metal and Realty were top gainers (11%) with equal support from the others which closed 5-8% higher. Midcaps were on a joy ride while the laggard sectors (IT and Oil & Gas) also contributed. Volumes were higher than earlier session. Our government has announced 2nd stimulus package; but will it provide the required booster in surpassing 3254 points? A sustained high above 3240 is required for a higher top higher bottom on the weekly charts; otherwise expect the Nifty to oscillate in the broad range of 2800-3200 for the coming week. Another observation seen on the weekly charts is that a top is formed after every 17-18th week. (11th Jan 08 – 6357, 2nd May 08 – 5298; 12th Sep 08 – 455 8). We are entering the 17th week from Sep 08. The coming fortnight is crucial for the Bulls; hence it would be prudent to take part trading profits in further rise or at best protect the gains appropriately. Immediate support is at 2952 and that from the trend line in green is pegged at 2885 points. From an immediate scenario, crucial support is in the 2950-80 points’ area. A decisive break of this area might be a cause of worry knocking another 80-100 points. Resistance in rallies is pegged at 3133-3165 points (38.2% retracement of the fall from 4558 -2252). The Nifty is moving within 75-80 points range for the past couple of sessions, therefore a range expansion is also likely in the comings days. Trade a bit carefully and keep taking profits regularly.
AVERAGES
Weekly 05 sma 08 sma 13 sma 2923.45 2859.52 2897.93
NIFTY Intra Month
Volatility S1 S2 R1 R2 580 pts 2800.00 2649.75 3115.00 3254.85
Adlabs Films
CMP: 191.35
The dai ly candlestick chart of Adlabs shows that it is pecking the resistance line of an ascending triangle type pattern. Volumes have also increased in the past couple of sessions. If it sustains above 199 (preferably in close), then it has the potential to test 208-211 in the coming 3-4 days. However failing to cross 199 in close can test 183178. Those who wish to go longs can buy around this 178-183 for a target of 195-208215-227 in the short to medium term. Stop loss for longs is pegged at 168 in close and that of shorts is at 211 in close. * Avoid gap openings and trade in cash.
Intra Week Range for 05/01/2009 -09/01/2009
Scrip A.C.C. ABB LTD. AXIS BANK BHARTI TELE BHEL BOM DYEING CAIRN IND CENTURY TEXT DLF LIMITED HDFC HIND.LEVER ICICI BANK INFOSYS TECH ITC LTD. LARSEN & TOU MARUTIUDYOG ONGC CORPN PUNJ LLOYD RANBAXY LAB. REL COM LTD REL.CAP. RELIANCE REL. INFRA RENUKA SUGAR SATYAM COM SIEMENS LTD. STATE BANK STEEL AUTH. STERLITE IN SUZLONENERGY TATA MOTORS TATA POWER TATA STEEL TCS LTD. TITAN IND. TATA COMM WIPRO LTD. Close 493.55 489.75 542.60 704.80 1408.25 204.85 172.20 180.85 300.60 1544.95 247.45 471.20 1130.95 174.05 822.60 543.00 680.05 158.30 250.25 250.35 567.90 1283.90 630.50 73.95 177.55 301.20 1330.00 83.90 274.95 64.55 175.35 770.35 229.65 497.30 952.40 495.05 242.90 R1 516.70 519.15 571.20 737.35 1470.70 217.80 180.15 192.55 319.30 1597.60 252.30 498.60 1175.60 176.30 866.60 571.30 706.90 168.45 265.40 269.80 601.70 1325.90 673.90 78.75 199.15 319.80 1383.50 90.40 292.95 71.80 190.30 801.90 242.55 516.50 995.45 513.15 259.20 R2 539.85 548.50 599.85 769.85 1533.10 230.80 188.10 204.20 338.05 1650.25 257.10 526.00 1220.30 178.55 910.60 599.60 733.75 178.65 280.50 289.20 635.55 1367.95 717.35 83.60 220.80 338.35 1437.00 96.90 310.95 79.00 205.20 833.45 255.50 535.75 1038.45 531.25 275.50 S/R 479.85 469.65 519.35 701.30 1366.60 197.95 170.85 174.35 289.65 1507.35 249.45 451.60 1120.30 173.15 793.80 527.70 666.95 152.30 240.70 235.05 550.35 1256.95 596.55 71.15 164.35 288.95 1295.50 79.70 264.60 63.80 167.55 760.45 222.55 488.25 929.00 494.40 236.70 S2 419.85 390.80 438.85 632.75 1200.10 165.10 153.60 144.50 241.25 1364.45 241.80 377.20 1020.30 167.75 677.00 455.80 600.15 125.95 200.90 180.90 465.15 1145.95 475.75 58.70 107.90 239.55 1154.00 62.50 218.25 48.60 129.90 687.45 189.60 440.75 819.55 457.55 197.90 S1 456.70 440.30 490.70 668.80 1304.20 184.95 162.90 162.70 270.90 1454.70 244.65 424.20 1075.60 170.90 749.80 499.40 640.10 142.10 225.60 215.65 516.50 1214.90 553.10 66.30 142.70 270.40 1242.00 73.20 246.60 56.60 152.65 728.90 209.60 469.00 886.00 476.30 220.40
Intra Day Range for 05/01/2009
Scrip A.C.C. ABB LTD. AXIS BANK BHARTI TELE BHEL BOM DYEING CAIRN IND CENTURY TEXT DLF LIMITED HDFC HIND.LEVER ICICI BANK INFOSYS TECH ITC LTD. LARSEN & TOU MARUTIUDYOG ONGC CORPN PUNJ LLOYD RANBAXY LAB. REL COM LTD REL.CAP. RELIANCE REL. INFRA RENUKA SUGAR SATYAM COM SIEMENS LTD. STATE BANK STEEL AUTH. STERLITE IN SUZLONENERGY TATA MOTORS TATA POWER TATA STEEL TCS LTD. TITAN IND. TATA COMM WIPRO LTD. Close 493.55 489.75 542.60 704.80 1408.25 204.85 172.20 180.85 300.60 1544.95 247.45 471.20 1130.95 174.05 822.60 543.00 680.05 158.30 250.25 250.35 567.90 1283.90 630.50 73.95 177.55 301.20 1330.00 83.90 274.95 64.55 175.35 770.35 229.65 497.30 952.40 495.05 242.90 R1 503.20 501.20 554.60 720.70 1429.85 209.90 174.60 186.60 308.65 1567.05 250.80 479.45 1156.30 175.75 835.10 553.30 691.90 162.45 256.00 255.40 580.40 1304.60 642.90 75.45 184.10 310.10 1348.55 86.00 281.30 69.10 181.80 785.60 234.55 505.20 970.60 506.15 250.40 R2 512.80 512.65 566.65 736.55 1451.40 214.90 177.05 192.30 316.65 1589.15 254.10 487.65 1181.60 177.40 847.55 563.55 703.75 166.65 261.70 260.40 592.90 1325.30 655.25 76.95 190.70 319.05 1367.15 88.10 287.65 73.65 188.30 800.80 239.50 513.10 988.80 517.30 257.95 S/R 493.40 487.55 535.95 709.15 1407.45 205.95 172.65 180.30 300.40 1537.90 248.70 470.80 1139.70 173.75 825.35 543.65 681.95 158.30 249.30 249.45 571.70 1278.30 627.65 74.50 179.40 298.55 1330.40 84.10 276.25 66.45 175.95 776.80 230.55 499.60 953.80 497.70 245.45 S2 474.00 462.45 505.25 681.75 1363.50 197.00 168.25 168.30 284.15 1486.65 243.30 453.95 1097.80 170.10 803.15 523.75 660.15 149.95 236.90 238.50 550.50 1231.30 600.05 72.05 168.10 278.05 1293.65 80.10 264.85 59.25 163.60 752.80 221.60 486.10 918.80 478.10 232.95 S1 483.80 476.10 523.90 693.30 1385.90 200.95 170.20 174.60 292.40 1515.80 245.40 462.60 1114.40 172.10 812.90 533.40 670.10 154.10 243.60 244.45 559.20 1257.60 615.30 73.00 172.80 289.60 1311.80 82.00 269.90 61.90 169.45 761.60 225.60 491.70 935.60 486.55 237.90
Intra Week Range for 05/01/2009 -09/01/2009
Scrip BANKNIFTY CNXIT NIFTY FUTS. Close
5199.85 2263.40 3053.60
R1
5413.20 2353.90 3158.00
R2
5626.55 2444.45 3262.45
S/R
5051.60 2214.45 2987.55
S2
4476.65 1984.45 2712.65
S1
4838.25 2123.90 2883.10
Intra Day Range for 05/01/2009
Scrip BANKNIFTY CNXIT NIFTY FUTS. Close
5199.85 2263.40 3053.60
R1
5311.55 2284.20 3072.80
R2
5367.45 2317.95 3116.85
S/R
5209.05 2271.25 3047.95
S2
5050.65 2224.55 2979.05
S1
5153.15 2237.50 3003.90
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