nifty 50 reports for the week (23rd-27th may '11)

8/6/2019 Nifty 50 Reports for the Week (23rd-27th May '11)

1/52

NIFTY50NIFTY50

WEEKLY REPORT23rd May - 27th May 2011

Global Research L imited


2/52www.capitalvia.com 3

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


ACC 1005.68 999.22 992.53 986.07 979.38


3/52www.capitalvia.com 3

Technical Picture


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.


128137

SUPPORTRESISTANCE

Ambuja CementsAmbuja Cements


AMBUJACEM 136.32 133.63 132.07 129.38 127.82


4/52

Axis BankAxis Bank

www.capitalvia.com 4

Technical Picture


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.


9801016

SUPPORTRESISTANCE


AXISBANK 1243.63 1232.27 1220.13 1208.77 1196.63


5/52

Bajaj Auto Ltd.Bajaj Auto Ltd.


Technical Picture


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.


12851363

SUPPORTRESISTANCE


1361.47 1346.13 1320.07 1304.73 1278.67BAJAJ AUTO


6/52

Bharat Heavy ElectricalBharat Heavy Electrical


Technical Picture


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.


20452110.50

SUPPORTRESISTANCE


BHEL 2130.4 2104.2 2083.2 2057 2036


7/52

Bharat Petroleum CorporationBharat Petroleum Corporation


Technical Picture


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.


607640

SUPPORTRESISTANCE


BPCL 638.53 632.12 624.58 618.17 610.63


8/52

Bharti AirtelBharti Airtel


Technical Picture


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.


363376.50

SUPPORTRESISTANCE


BHARTIARTL 385.62 379.73 372.52 366.63 359.42


9/52

CiplaCipla


Technical Picture


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.


302320

SUPPORTRESISTANCE


CIPLA 323.77 319.63 312.57 308.43 301.37


10/52

Cairn IndiaCairn India


Technical Picture


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.


330345

SUPPORTRESISTANCE


CAIRN 344.07 341.98 340.02 337.93 335.97


11/52

DLFDLF


Technical Picture


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.


217235

SUPPORTRESISTANCE


DLF 235.07 231.73 226.12 222.78 217.17


12/52

Dr. Reddy LaboratoriesDr. Reddy Laboratories


Technical Picture


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.


15601615

SUPPORTRESISTANCE


DRREDDY 1636.97 1618.93 1596.97 1578.93 1556.97


13/52

Gail IndiaGail India


Technical Picture


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.


418435

SUPPORTRESISTANCE


GAIL 443.17 434.68 427.52 419.03 411.87


14/52

HCL TechnologiesHCL Technologies


Technical Picture


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.


489510

SUPPORTRESISTANCE


HCLTECH 511.52 508.73 504.72 501.93 497.92


15/52

HDFC BankHDFC Bank


Technical Picture


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.


22402325

SUPPORTRESISTANCE


HDFCBANK 2361.63 2338.67 2297.03 2274.07 2232.43


16/52

Housing Development FinanceHousing Development Finance


Technical Picture


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.


634670

SUPPORTRESISTANCE


HDFC 677.48 668.17 654.08 644.77 630.68


17/52

Hero Honda MotorsHero Honda Motors


Technical Picture


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.


17601840

SUPPORTRESISTANCE


HEROHONDA 1867.32 1838.03 1805.77 1776.48 1744.22


18/52

Hindalco IndustriesHindalco Industries


Technical Picture


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.


185198

SUPPORTRESISTANCE


HINDALCO 197.53 194.82 192.28 189.57 187.03


19/52

Hindustan UnileverHindustan Unilever


Technical Picture


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.


305315

SUPPORTRESISTANCE


HINDUNILVR 315.03 312.62 310.33 307.92 305.63


20/52

ICICI BankICICI BankWeekly Pivots


Technical Picture


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.


10201062

SUPPORTRESISTANCE


ICICIBANK 1069.87 1056.53 1040.77 1027.43 1011.67


21/52

IDFCIDFC


Technical Picture


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.


129142

SUPPORTRESISTANCE


IDFC 143.3 140.3 136.3 133.3 129.3


22/52

Infosys TechnologiesInfosys Technologies


Technical Picture


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.


27852883

SUPPORTRESISTANCE


INFOSYSTCH 2880.12 2864.98 2848.57 2833.43 2817.02


23/52

ITCITC


Technical Picture


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.


182192

SUPPORTRESISTANCE


ITC 195.02 190.78 187.27 183.03 179.52


24/52

Jaiprakash AssociatesJaiprakash Associates


Technical Picture


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.


8083

SUPPORTRESISTANCE


JPASSOCIAT 83.73 82.77 81.83 80.87 79.93


25/52

Jindal Steel & PowerJindal Steel & Power


Technical Picture


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.


626656

SUPPORTRESISTANCE


JINDALSTEL 649.25 644.95 641.4 637.1 633.55


26/52

Larsen and TurboLarsen and Turbo


Technical Picture


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.


15701672

SUPPORTRESISTANCE


LT 1703.42 1677.83 1644.42 1618.83 1585.42


27/52

Kotak Mahindra BankKotak Mahindra Bank


Technical Picture


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.


407425

SUPPORTRESISTANCE


KOTAKBANK 426.68 421.82 415.93 411.07 405.18


28/52

Mahindra and MahindraMahindra and Mahindra


Technical Picture


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.


672700

SUPPORTRESISTANCE


M&M 706.22 698.53 686.02 678.33 665.82


29/52

Maruti Suzuki IndiaMaruti Suzuki India


Technical Picture


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.


12001245

SUPPORTRESISTANCE


MARUTI 1255.47 1239.33 1224.67 1208.53 1193.87


30/52

NTPC Ltd.NTPC Ltd.


Technical Picture


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.


168177

SUPPORTRESISTANCE


NTPC 177.27 175.03 172.52 170.28 167.77


31/52

Oil and Natural Gas CorpOil and Natural Gas Corp


Technical Picture


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.


260285

SUPPORTRESISTANCE


ONGC 291.98 282.97 275.23 266.22 258.48


32/52

Power Grid Corporation of IndiaPower Grid Corporation of India


Technical Picture


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.


97102

SUPPORTRESISTANCE


POWERGRID 103.57 102.28 100.32 99.03 97.07


33/52

Punjab National BankPunjab National Bank


Technical Picture


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.


10261070

SUPPORTRESISTANCE


PNB 1058.18 1045.87 1036.48 1024.17 1014.78


34/52

Ranbaxy LaboratoriesRanbaxy Laboratories


Technical Picture


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.


480530

SUPPORTRESISTANCE


RANBAXY 513.02 505.63 493.52 486.13 474.02


35/52

Reliance CapitalReliance Capital


Technical Picture


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.


498525

SUPPORTRESISTANCE


RELCAPITAL 520.83 514.97 508.98 503.12 497.13


36/52

Reliance CommunicationsReliance Communications


Technical Picture


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.


8288

SUPPORTRESISTANCE


RCOM 86.63 85.27 83.63 82.27 80.63


37/52

Reliance IndustriesReliance Industries


Technical Picture


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.


885968

SUPPORTRESISTANCE


RELIANCE 935.27 929.23 919.77 913.73 904.27


38/52

Reliance InfrastructureReliance Infrastructure


Technical Picture


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.


549623

SUPPORTRESISTANCE


RELINFRA 583.65 576.35 564.7 557.4 545.75


39/52

Reliance PowerReliance Power


Technical Picture


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.


106115

SUPPORTRESISTANCE


RPOWER 116.4 114.55 111.95 110.1 107.5


40/52

Siemens IndiaSiemens India


Technical Picture


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.


835866

SUPPORTRESISTANCE


SIEMENS 878.77 870.73 857.97 849.93 837.17


41/52

Sterlite Industries IndiaSterlite Industries India


Technical Picture


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.


166171

SUPPORTRESISTANCE


STER 171.92 170.08 168.52 166.68 165.12


42/52

State Bank of IndiaState Bank of India


Technical Picture


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.


22902330

SUPPORTRESISTANCE


SBIN 2378.68 2349.57 2329.98 2300.87 2281.28


43/52

Steel Authority of IndiaSteel Authority of India


Technical Picture


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.


140146

SUPPORTRESISTANCE


SAIL 148.93 145.77 142.63 139.47 136.33


44/52

Sun PharmaceuticalsSun Pharmaceuticals


Technical Picture


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.


422452

SUPPORTRESISTANCE


SUNPHARMA 449.45 444.35 435.8 430.7 422.15


45/52

GrasimGrasim


Technical Picture


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


22002280

SUPPORTRESISTANCE


GRASIM 2293.35 2275.8 2257.4 2239.85 2221.45


46/52

Tata Consultancy ServicesTata Consultancy Services


Technical Picture


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.


11421183.50

SUPPORTRESISTANCE


TCS 1194.03 1184.52 1173.88 1164.37 1153.73


47/52

Tata MotorsTata Motors


Technical Picture


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.


11351169

SUPPORTRESISTANCE


TATAMOTORS 1197.95 1183.3 1167.25 1152.6 1136.55


48/52

Tata SteelTata Steel


Technical Picture


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.


555585

SUPPORTRESISTANCE


TATASTEEL 596.12 587.83 575.42 567.13 554.72


49/52

Tata Power SupplyTata Power Supply


Technical Picture


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.


12061263

SUPPORTRESISTANCE


TATAPOWE R 1271.45 1253.9 1238.45 1220.9 1205.45


50/52

Sesa GoaSesa Goa


Technical Picture


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.


285307

SUPPORTRESISTANCE


SESAGOA 304.78 298.97 293.88 288.07 282.98


51/52


52/52

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nifty 50 reports for the week (23rd-27th may '11)

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