technical analysis report - 020109
TRANSCRIPT
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January 2, 2009 1
Technical Analysis
Using Gann AnglesImplying Time and Price Analysis.
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January 2, 2009 33
Technical Outlook For Q1 2009
This is our first technical report for the year 2009. In this report we have covered 30 stocks which form
nearly 79% of the Nifty’s weight and up to 75% of the total trading volumes.
We have used Gann Studies to project Support and Resistance. As per our study nearly 47.37% of the
Nifty’s weight is likely to lose between 15%-25% while 31.63% of the Nifty’s weight is likely to
gain between 20-25%.
As far as NIFTY is concerned, we believe that there is a very strong resistance zone between3000-3155 and a strong support at around 2500 level. Currently we are in a camp which believes
that Nifty is likely to see 2500 from current levels of 3050+, a likely fall of 18%.
Our Top Sell Ideas are : Nifty, HDFC, HDFC Bank, Tata Steel and Reliance Industries Ltd.
Our Top Buy Ideas are : BPCL, CAIRN India, DLF, Hind Unilever and Indian Oil Corp.
* Most of our Top Buy Ideas have recouped their Oct 08 Losses.
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January 2, 2009 55
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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3155
2500
S&P CNX NIFTY(CMP: 3056)
Resistance Support Recommendation Weightage in Nifty3155 2500 Sell
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January 2, 2009 66
BHARTI AIRTEL Ltd
2002 J J A S O D 2003 A M J J A S O N 2004 A M J A S O N 2005 A M J A S O D 2006 A M J J A S O D 2007 A M J A S O N D 2008 A M J J A S O N 2009
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618
480
(CMP: Rs. 711)
Resistance Support Recommendation Weightage in NiftyRs. 755 Rs. 618/480 Sell 7.33%
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January 2, 2009 77
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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1546
1218
888
BHEL (CMP: Rs. 1412)
Resistance Support Recommendation Weightage in NiftyRs. 1546 Rs. 1218/888 Sell 3.64%
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January 2, 2009 88
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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345
BHARAT PETROLEUM CORPORATION LTD(CMP: Rs. 361)
Resistance Support Recommendation Weightage in NiftyRs. 460 Rs. 345 Buy 0.70%
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January 2, 2009 99
2007 Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2008 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 Feb Mar
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186
157
129
CAIRN INDIA(CMP: Rs. 173)
Resistance Support Recommendation Weightage in Nifty
Rs. 186 Rs. 157/129Buy: Will Gain
Weightage in Nifty1.75%
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January 2, 2009 1010
2007 August September November December 2008 February March April May June July August September November 200
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243
DLF LTD(CMP: Rs. 300)
Resistance Support Recommendation Weightage in NiftyRs. 365 Rs. 243 Buy between Rs. 245-250 2.63%
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January 2, 2009 1212
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1454
HDFC LTD(CMP: Rs. 1535)
Resistance Support Recommendation Weightage in NiftyRs. 1454 Sell 2.28%
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January 2, 2009 1313
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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229
HIND UNILEVER(CMP: Rs. 250)
Resistance Support Recommendation Weightage in NiftyRs. 290/260 Rs. 229 Buy 2.92%
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January 2, 2009 1414
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313
ICICI BANK LTD(CMP: Rs. 474)
Resistance Support Recommendation Weightage in NiftyRs. 476 Rs. 313 Sell 2.76%
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January 2, 2009 1515
2005 O N D 2006 M A M J J A S O N D 2007 M A M J J A S O N D 2008 M A M J J A S O N D 2009 M
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42
IDFC(CMP: Rs. 71)
Resistance Support Recommendation Weightage in NiftyRs. 85 Rs. 64/42 Buy Non Nifty Stock
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January 2, 2009 1616
INDIAN OIL CORPORATION LTD
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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456
349
(CMP: Rs. 423)
Resistance Support Recommendation Weightage in NiftyRs. 456 Rs. 349 Buy Non Nifty Stock
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January 2, 2009 1717
19 94 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20
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INFOSYS TECHNOLOGY(CMP: Rs. 1136)
Resistance Support Recommendation Weightage in NiftyRs. 1317 Rs. 1043/769 Sell 3.49%
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January 2, 2009 1818
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
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95100105110115120125130135140145150155160165170175180185190195200205210215220225230235240245250255
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51015202530354045505560657075808590
95100105110115120125130135140145150155160165170175180185190195200205210215220225230235240245250255
182.50
156.50
ITC LTD(CMP: Rs. 174)
Resistance Support Recommendation Weightage in NiftyRs. 182.5 Rs. 156.5 Buy 3.48%
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January 2, 2009 1919
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LARSEN & TOURBO LTD(CMP: Rs. 829)
Resistance Support Recommendation Weightage in NiftyRs. 465 Rs. 727 Buy 2.53%
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January 2, 2009 2020
2003 O N D 2004 A M J J A S O N D 2005 A M J J A S O N D 2006 A M J J A S O N D 2 007 A M J J A S O N D 2008 A M J J A S O N D 2 009
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477
MARUTI UDYOG LTD(CMP: Rs. 542)
Resistance Support Recommendation Weightage in NiftyRs. 602 Rs. 477 Buy 0.83%
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January 2, 2009 2121
NTPC LTD
2004 2005 M A M J J A S O N D 2006 M A M J J A S O N D 2007 M A M J J A S O N D 2008 M A M J J A S O N D 2009 M
5560
65707580859095
100105110115120125130135140145150
155160165170175180185190195200205210215220225230235
240245250255260265270275280285290295300305
5560
65707580859095
100105110115120125130135140145150
155160165170175180185190195200205210215220225230235
240245250255260265270275280285290295300305
189
139
(CMP: Rs. 183)
Resistance Support Recommendation Weightage in NiftyRs. 189 Rs. 139 Buy 8%
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January 2, 2009 2222
ONGC LTD
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780
630
485-500
(CMP: Rs. 684)
Resistance Support Recommendation Weightage in NiftyRs. 780 Rs. 630/485-500 Sell 7.81%
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January 2, 2009 2323
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POWER GRID CORPORATION OF INDIA LTD(CMP: Rs. 84)
Resistance Support Recommendation Weightage in NiftyRs. 92.5 Rs. 80 Buy 1.88%
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January 2, 2009 2424
RELIANCE CAPITAL
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637
407
(CMP: Rs. 573)
Resistance Support Recommendation Weightage in NiftyRs. 637 Rs. 407 Sell Non Nifty Stock
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January 2, 2009 2525
2 00 6 Ma y Ju n Ju l Au g Se p Oct N ov D ec 2 00 7 Ma r Ap r Ma y Ju n Ju l Au g Se p Oct N ov D ec 2 00 8 Ma r Ap r Ma y Ju n Ju l Au g Se p Oct N ov D ec 2 00 9 Ma
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141
RELIANCE COMMUNICATION(CMP: Rs. 253)
Resistance Support Recommendation Weightage in NiftyRs. 217 Rs. 141 Buy 2.67%
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January 2, 2009 2626
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1406
1043
RELIANCE INDUSTRIES(CMP: Rs. 1274)
Resistance Support Recommendation Weightage in NiftyRs. 1406 Rs. 1043 Sell 10.57%
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January 2, 2009 2727
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415
RELIANCE INFRASTRUCTURE(CMP: Rs. 626)
Resistance Support Recommendation Weightage in NiftyRs. 627 Rs. 415 Sell 0.74%
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January 2, 2009 2828
2006 Jul Aug Sep Oct Nov Dec 2007 Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2008 Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 Ma
5055
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150155160165170175180185190195200205210215220225230235240245250255260265270275280285290295300305310315
5055
6065707580859095
100105110115120125130135140145
150155160165170175180185190195200205210215220225230235240245250255260265270275280285290295300305310315
98.55
71.50
RELIANCE PETROLEUM (86.0000, 89.2000, 85.1500, 88.3500, +3.60000)
RELIANCE PETROLEUM(CMP: Rs. 92)
Resistance Support Recommendation Weightage in NiftyRs. 98.55 Rs. 71.5 Buy 2.14%
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January 2, 2009 2929
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98
SATYAM COMPUTER(CMP: Rs. 175)
Resistance Support Recommendation Weightage in NiftyRs. 209 Rs. 126.50/98 Sell 0.64%
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January 2, 2009 3030
STATE BANK OF INDIA LTD
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
-500
50100150200250300350400450500550600650700750800850900
950100010501100115012001250130013501400145015001550160016501700175018001850
190019502000205021002150220022502300235024002450250025502600
-500
50100150200250300350400450500550600650700750800850900
950100010501100115012001250130013501400145015001550160016501700175018001850
190019502000205021002150220022502300235024002450250025502600
1357
1070
840
(CMP: Rs. 1343)
Resistance Support Recommendation Weightage in NiftyRs. 1357 Rs. 1070/840 Sell 4.46%
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January 2, 2009 3131
2004 A S O N D 2005 M A M J J A S O N D 2006 M A M J J A S O N D 2007 M A M J J A S O N D 2008 M A M J J A S O N D 2009 M
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291
170
STERLITE INDSTRIES(CMP: Rs. 276)
Resistance Support Recommendation Weightage in NiftyRs. 291 Rs. 170 Buy 1.03%
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January 2, 2009 3232
SUZLON ENERGY
2005 D 2006 M A M J J A S O N D 2007 M A M J J A S O N D 2008 M A M J J A S O N D 2009 M
010
2030405060708090
100110120130140150160170180
190200210220230240250260
270280290300310320330340350
360370380390400410420430
440450460470480490
010
2030405060708090
100110120130140150160170180
190200210220230240250260
270280290300310320330340350
360370380390400410420430
440450460470480490
68.25
(CMP: Rs. 67.5)
Resistance Support Recommendation Weightage in NiftyRs. 68.25 Buy 0.52%
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January 2, 2009 3333
1994 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
850
900
950
1000
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
850
900
950
1000
226
123
TATA STEEL (CMP: Rs. 235)
Resistance Support Recommendation Weightage in NiftyRs. 226 Rs. 123 Sell 0.88%
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January 2, 2009 3434
2004 N D 2005 M A M J J A S O N D 2006 M A M J J A S O N D 2007 M A M J J A S O N D 2008 M A M J J A S O N D 2009 M
350
400
450
500
550
600
650
700
750
800
850
900
950
1000
1050
1100
1150
1200
1250
1300
1350
1400
1450
350
400
450
500
550
600
650
700
750
800
850
900
950
1000
1050
1100
1150
1200
1250
1300
1350
1400
1450
518
410
TCS LTD(CMP: Rs. 496)
Resistance Support Recommendation Weightage in NiftyRs. 518 Rs. 410 Sell 0.76%
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