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STOCKS REPORTS

Global Research Limited

WEEKLY
16th May – 20th May 2011
www.capitalvia.com
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
ACC

ACC
Weekly Pivots

STOCK R2 R1 PP S1 S2

ACC 1027.75 1012.55 994.8 979.6 961.85

Technical Picture

Figure: 1 : Nifty50 Graph

TECHNICAL OVERVIEW
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 RESISTANCE 1010
it may also bounce back from lower support levels. SUPPORT 960

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
AMBUJA CEMENT

AMBHUJA CEMENT
Weekly Pivots

STOCK R2 R1 PP S1 S2

AMBUJACEM 146.35 141.3 136.65 131.6 126.95

Technical Picture

Figure: 2 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock consolidated throughout this week after a downfall in previous week. Its next
support is at 131, one should now wait in the stock as a short term recovery can be seen the RESISTANCE 144
stock after a continuous fall. SUPPORT 131

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
AXIS

AXIS
Weekly Pivots

STOCK R2 R1 PP S1 S2

AXISBANK 1305.63 1275.17 1238.08 1207.62 1170.53

Technical Picture

Figure: 3 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock had a downfall in early trading sessions of the last week and is now consolidating
within tight range. One should now wait for crossing of levels on either side as it is expected RESISTANCE 1298
to continue its consolidation for some trading session. SUPPORT 1180

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
BAJAJ AUTO

BAJAJ AUTO
Weekly Pivots

STOCK R2 R1 PP S1 S2

BAJAJ-AUTO 1407.3 1371.95 1327.65 1292.3 1248

Technical Picture

Figure: 4 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock has successfully tried to take support at lower levels and had an up rally. Its next
resistance is at 1363, crossing of this level may bring some more upward movement in the RESISTANCE 1363
stock. SUPPORT 1300

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
BHEL

BHEL
Weekly Pivots

STOCK R2 R1 PP S1 S2

BHEL 2111.22 2071.13 2036.82 1996.73 1962.42

Technical Picture

Figure: 5 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock is consolidating currently. One could go for sell on rise strategy in the stock until it
crosses 2095 in upside. RESISTANCE 2095
SUPPORT 2000

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
BPCL

BPCL
Weekly Pivots

STOCK R2 R1 PP S1 S2

BPCL 688.43 674.42 655.88 641.87 623.33

Technical Picture

Figure: 6 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock is now facing a correction phase after having an up rally last week. Its next
resistance is at 675, crossing of this level will continue its bullish trend else it may also resist at RESISTANCE 675
higher levels. SUPPORT 640

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
BHARTI AIRTEL

BHARTI AIRTEL
Weekly Pivots

STOCK R2 R1 PP S1 S2

BHARTIARTL 386.85 377.3 364.65 355.1 342.45

Technical Picture

Figure: 7 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock consolidated with positive biasness this week. it tried to cross its resistance level
today and made a high of 374.20, its next resistance level is at 376.50, crossing of this rally RESISTANCE 376.50
may continue the up rally of the stock. SUPPORT 360

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
CIPLA

CIPLA
Weekly Pivots

STOCK R2 R1 PP S1 S2

CIPLA 319.33 313.77 306.93 301.37 294.53

Technical Picture

Figure: 8 : Nifty50 Graph

TECHNICAL OVERVIEW
Cipla is currently moving in a sideways trend. One should wait for crossing of levels on either
side before taking any positions in it. RESISTANCE 316
SUPPORT 295

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
CAIRN

CAIRN
Weekly Pivots

STOCK R2 R1 PP S1 S2

CAIRN 351.22 344.83 339.62 333.23 328.02

Technical Picture

Figure: 9 : Nifty50 Graph

TECHNICAL OVERVIEW
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. RESISTANCE 345
SUPPORT 330

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
DLF

DLF
Weekly Pivots

STOCK R2 R1 PP S1 S2

DLF 245.92 239.43 228.42 221.93 210.92

Technical Picture

Figure: 10 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock has successfully taken support at lower levels and managed to reach the
mentioned levels, its next resistance is at 235, crossing of this level will take the stock further RESISTANCE 235
upwards. SUPPORT 217

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
DR REDDY

DR REDDY
Weekly Pivots

STOCK R2 R1 PP S1 S2

DRREDDY 1739.92 1695.78 1634.07 1589.93 1528.22

Technical Picture

Figure: 11 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock was consolidating during the week and in the last trading session it broke its
resistance of 1650 and marked a new a high of 1678. The stock is now facing resistance at RESISTANCE 1700
1700 and has support at 1600. A further up movement can be seen in the stock once it SUPPORT 1600
breaks its resistance. One can go for buying the stock above it resistance level.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
GAIL INDIA

DR REDDY
Weekly Pivots

STOCK R2 R1 PP S1 S2

GAIL 474.12 466.63 458.82 451.33 443.52

Technical Picture

Figure: 12 : Nifty50 Graph

TECHNICAL OVERVIEW
An up rally was seen in the stock during the week but the stock ended on a negative note. A
profit booking can be seen in the stock in coming session. The stock is facing resistance at RESISTANCE 471
471 and has support at 454. The 10 day moving average of the stock comes around 455 SUPPORT 454
which act as a good support for the stock. One can go for selling the stock once it breaks its
support.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HCL

HCL
Weekly Pivots

STOCK R2 R1 PP S1 S2

HCLTECH 522.25 513.5 503.25 494.5 484.25

Technical Picture

Figure: 13 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock was trading sideways during the week and ended on a negative note. The stock is
now facing resistance at 512 and has support at 485. Break of support may take the stock RESISTANCE 512
further down. One may go for selling the stock one it breaks its support. SUPPORT 485

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HDFC BANK

HDFC BANK
Weekly Pivots

STOCK R2 R1 PP S1 S2

HDFCBANK 2356.35 2303.7 2262.35 2209.7 2168.35

Technical Picture

Figure: 14 : Nifty50 Graph

TECHNICAL OVERVIEW

The stock moved down during the week and ended on a positive note. The stock is facing
RESISTANCE 2325
resistance at 2325 and has support at 2220. Break of resistance may take the stock further
up. One may go for buying the stock once it breaks its resistance. SUPPORT 2220

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HOUSING DEVELOPMENT FINANCE

HOUSING DEVELOPMENT FINANCE


Weekly Pivots

STOCK R2 R1 PP S1 S2

HDFC 681.07 662.88 651.82 633.63 622.57

Technical Picture

Figure: 15 : Nifty50 Graph

TECHNICAL OVERVIEW
A continuous downtrend was seen in the stock during the week. The stock is now facing
resistance at 665 and has support at 637. A further correction can be seen in the stock once RESISTANCE 665
it breaks its support. One may go for selling the stock once it breaks its support. SUPPORT 637

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HERO HONDA

HERO HONDA
Weekly Pivots

STOCK R2 R1 PP S1 S2

HEROHONDA 1880.13 1839.07 1771.58 1730.52 1663.03

Technical Picture

Figure: 16 : Nifty50 Graph

TECHNICAL OVERVIEW
A continuous up movement was seen in the stock during the week and the stock ended on a
positive note. The stock is now facing resistance at 1818 and has support at 1719 which is RESISTANCE 1818
also a 10 day moving average of the stock. Break of resistance may take the stock further up. SUPPORT 1719
One may go for buying the stock once it breaks its resistance.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HINDALCO

HINDALCO
Weekly Pivots

STOCK R2 R1 PP S1 S2

HINDALCO 213.62 205.78 199.67 191.83 185.72

Technical Picture

Figure: 17 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock traded down during the week and ended on a positive note. The stock can move
up once it manages to break its resistance. The stock is facing resistance at 203 which is also RESISTANCE 203
10 day moving average of the stock. One may go for buying the stock once it breaks its SUPPORT 193
resistance.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
HUL

HUL
Weekly Pivots

STOCK R2 R1 PP S1 S2

HINDUNILVR 338.15 322.4 296.15 280.4 254.15

Technical Picture

Figure: 18 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock showed a continuous up rally during the week and on the last day of trading
session after breaking its resistance at 307 it marked a high of 312. The stock is now facing RESISTANCE 315
resistance at 315 and has support at 297 SUPPORT 297

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
ICICI BANK

ICICI BANK
Weekly Pivots

STOCK R2 R1 PP S1 S2

ICICIBANK 1122.68 1097.87 1071.58 1046.77 1020.48

Technical Picture

Figure: 19 : Nifty50 Graph

TECHNICAL OVERVIEW
ICICI bank is in sideways trend and last week it showed negative biasness, though it
recovered later. The stock has support level at 1042 and resistance level at 1108. It is RESISTANCE 1108
expected to remain sideways in coming trading session, some positive biasness may also be SUPPORT 1042
seen in it.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
IDFC

IDFC
Weekly Pivots

STOCK R2 R1 PP S1 S2

IDFC 142.78 137.07 132.68 126.97 122.58

Technical Picture

Figure: 20 : Nifty50 Graph

TECHNICAL OVERVIEW
IDFC is in major downtrend, Last week also it continued the same and made week low of
128.30. The stock is having resistance level at 134 and support level at 126. It is expected to RESISTANCE 134
consolidate with negative biasness in short term, and it may also bounce back if it continues SUPPORT 126
to sustain above the support level.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
INFOSYS TECHNOLOGIES

INFOSYS TECHNOLOGIES
Weekly Pivots

STOCK R2 R1 PP S1 S2

INFOSYSTCH 2947.65 2913 2890.25 2855.6 2832.85

Technical Picture

Figure: 21 : Nifty50 Graph

TECHNICAL OVERVIEW
Infosys from the last few trading session moving sideways; in today's trading session it
manages to trade and close below the 10 days and 50 days moving averages. It is now taking RESISTANCE 2965
support at 2865 below this level it would be in a downward trend. One can go for short SUPPORT 2865
position in it at 2865 below this level it might test the next support level of 2810.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
ITC

ITC
Weekly Pivots

STOCK R2 R1 PP S1 S2

ITC 197.47 193.23 187.67 183.43 177.87

Technical Picture

Figure: 22 : Nifty50 Graph

TECHNICAL OVERVIEW
ITC has found support at 176 and resistance 195.In today's trading session it battered down
to the level of 177.55, from this level it made a smart recovery and made a high of 191.90. RESISTANCE 195
One can go for long position in it at 195 above this level it would be in an upward trend. SUPPORT 176

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
JAIPRAKASH ASSOCIATES

JAIPRAKASH ASSOCIATES
Weekly Pivots

STOCK R2 R1 PP S1 S2

JPASSOCIAT 92.75 90.1 87.05 84.4 81.35

Technical Picture

Figure: 23 : Nifty50 Graph

TECHNICAL OVERVIEW
In today's trading session it was up by 2.88 %, from this level further upside of movement
would be expected. It is looking bullish in the coming trading session if it manages to trade RESISTANCE 93
above the resistance level of 93 else below 80 it would be in a downward trend. SUPPORT 80

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
JINDAL STEEL & POWER

JINDAL STEEL & POWER


Weekly Pivots

STOCK R2 R1 PP S1 S2

JINDALSTEL 666.4 653.2 636.6 623.4 606.8

Technical Picture

Figure: 24 : Nifty50 Graph

TECHNICAL OVERVIEW
Jindal Steel & Power found support at 614 which served as strong support levels; from this
level it made a recovery and made a high of 649.80. In today's trading session it manages to RESISTANCE 650
trade and close above the 10 days and 50 days moving averages. It is looking strong on SUPPORT 614
charts above 650 it might be in an upward trend.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
LARSEN AND TOUBRO

LARSEN AND TOUBRO


Weekly Pivots

STOCK R2 R1 PP S1 S2

LT 1602.67 1565.58 1527.82 1490.73 1452.97

Technical Picture

Figure: 25 : Nifty50 Graph

TECHNICAL OVERVIEW
In today's trading session it manages to trade and close below the 10 days and 50 days
moving averages. It is taking support at 1480 and resistance at 1570; from this level further RESISTANCE 1570
downside of movement would be expected. One can go for short position in it at 1480 SUPPORT 1480
below this level it might be in a downward trend.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
KOTAK MAHINDRA BANK

KOTAK MAHINDRA BANK


Weekly Pivots

STOCK R2 R1 PP S1 S2

KOTAKBANK 447.78 433.87 421.93 408.02 396.08

Technical Picture

Figure: 26 : Nifty50 Graph

TECHNICAL OVERVIEW
Kotak Mahindra Bank from the last few trading moving in a downward trend, it is looking
weak on charts from this level further downside of movement would be expected. One can RESISTANCE 436
go for short position in it at 402 for the target of 390. SUPPORT 402

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
MAHINDRA & MAHINDRA

MAHINDRA & MAHINDRA


Weekly Pivots

STOCK R2 R1 PP S1 S2

M&M 745.08 717.97 696.88 669.77 648.68

Technical Picture

Figure: 27 : Nifty50 Graph

TECHNICAL OVERVIEW
In today's trading session it manages to trade and close below the 10 days and 50 days
moving averages and it made a low of 675.80, from this level further downside of RESISTANCE 706
movement would be expected. It is now taking support at 662 below this level it would be in SUPPORT 662
a downward trend else above 706 it would be in an upward trend.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
MARUTI SUZUKI INDIA

MARUTI SUZUKI INDIA


Weekly Pivots

STOCK R2 R1 PP S1 S2

MARUTI 1304.58 1263.52 1238.83 1197.77 1173.08

Technical Picture

Figure: 28 : Nifty50 Graph

TECHNICAL OVERVIEW
Maruti Suzuki from the last few trading session moving in a downward trend and it manages
to close near to the support level of 1206, form this level further downside of movement RESISTANCE 1238
would be expected. It is looking bearish in the coming trading session if it manages to trade SUPPORT 1200
below the support level of 1206 else above 1238 it would be in an upward trend.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
NTPC

NTPC
Weekly Pivots

STOCK R2 R1 PP S1 S2

NTPC 187.35 181.2 176.75 170.6 166.15

Technical Picture

Figure: 29 : Nifty50 Graph

TECHNICAL OVERVIEW
After making a high of 182.90 it was continuously moving in a downward trend, in today's
trading session it was up by 0.32 % and manages to trade and close below the 10 days and RESISTANCE 184
50 days moving averages, from this level either side of movement would be expected. It is SUPPORT 170
looking weak on charts; one can go for short position in it at 170 below this level it might
face more selling pressure.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
ONGC

ONGC
Weekly Pivots

STOCK R2 R1 PP S1 S2

ONGC 319.52 312.08 304.87 297.43 290.22

Technical Picture

Figure: 30 : Nifty50 Graph

TECHNICAL OVERVIEW
ONGC battered down to the level of 297.65, in today's trading session it made a recovery
and made a high of 310.50. It is looking strong on charts. One can go for long position in it at RESISTANCE 313
313 for the target of 325. SUPPORT 297

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
POWER GRID CORPORATION OF INDIA

POWER GRID CORPORATION OF INDIA


Weekly Pivots

STOCK R2 R1 PP S1 S2

POWERGRID 105.75 103.55 102.3 100.1 98.85

Technical Picture

Figure: 31 : Nifty50 Graph

TECHNICAL OVERVIEW
In today's trading session it was down by 0.05 %. It is now taking support at 100 and
resistance 105, form this level further downside of movement would be expected. One can RESISTANCE 105
go for short position in it at 100 for the target of 95. SUPPORT 100

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
PUNJAB NATIONAL BANK

PUNJAB NATIONAL BANK


Weekly Pivots

STOCK R2 R1 PP S1 S2

PNB 1139.95 1111.55 1088.4 1060 1036.85

Technical Picture

Figure: 32 : Nifty50 Graph

TECHNICAL OVERVIEW
After making a high of 1129.50 it is continuously moving in a downward trend, it is now
trading at 1083.15 and it was up by 0.94 %. It has resistance at 1120 and support at 1053. It RESISTANCE 1120
is looking bearish in the coming trading session if it manages to trade below the support SUPPORT 1053
level of 1053 else above 1120 it would be in a bullish trend.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
RANBAXY

RANBAXY
Weekly Pivots

STOCK R2 R1 PP S1 S2

RANBAXY 536.72 513.43 471.52 448.23 406.32

Technical Picture

Figure: 33 : Nifty50 Graph

TECHNICAL OVERVIEW
In today's trading session a positive opening made it to trade above the 10 days and 50 days
moving averages. It is now trading at 490.15 from this level further upside of movement RESISTANCE 495
would be expected. It is looking strong on charts. One can go for long position in it at 495 for SUPPORT 450
the target of 510.

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
RELIANCE CAPITAL

RELIANCE CAPITAL
Weekly Pivots

STOCK R2 R1 PP S1 S2

RELCAPITAL 551.88 539.27 524.68 512.07 497.48

Technical Picture

Figure: 34 : Nifty50 Graph

TECHNICAL OVERVIEW
Reliance capital from the last few trading session moving sideways and in today's trading
session it was up by 2.12%. It is now taking support at 499 and resistance at 538. One can RESISTANCE 538
go for long position in it at 538 above this level it would be in an upward trend. SUPPORT 499

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WEEKLY
16th May to 20th May 2011

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WEEK AHEAD
RELIANCE COMMUNICATION

RELIANCE COMMUNICATION
Weekly Pivots

STOCK R2 R1 PP S1 S2

RCOM 95.9 93.4 90.7 88.2 85.5

Technical Picture

Figure: 35 : Nifty50 Graph

TECHNICAL OVERVIEW
Reliance Communication battered down to 85.80, from this level it made a smart recovery
and made a high of 93.20. It is now taking support at 88 and resistance at 95. In order to be RESISTANCE 95
in an upward trend it had to trade and consolidate above the 10 days and 50 days moving SUPPORT 88
averages. It is looking positive in the coming trading session; one can go for long position in
it at 95 for the target of 100.

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WEEKLY
16th May to 20th May 2011

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WEEK AHEAD
RELIANCE INDUSTRIES

RELIANCE INDUSTRIES
Weekly Pivots

STOCK R2 R1 PP S1 S2

RELIANCE 978.77 963.38 950.67 935.28 922.57

Technical Picture

Figure: 36 : Nifty50 Graph

TECHNICAL OVERVIEW
It is taking resistance at 970 and support at 932. It is looking bullish in the coming trading
session, one can go for long position in at 970 above this level it would be in an upward trend RESISTANCE 970
else below 932 it would be in downward trend. SUPPORT 932

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WEEKLY
16th May to 20th May 2011

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WEEK AHEAD
RELIANCE INFRAUSTRUCTURE

RELIANCE INFRAUSTRUCTURE
Weekly Pivots

STOCK R2 R1 PP S1 S2

RELINFRA 645.23 628.27 605.43 588.47 565.63

Technical Picture

Figure: 37 : Nifty50 Graph

TECHNICAL OVERVIEW
It is now taking support at 559 and resistance at 625.It is looking strong on chart in today's
trading session it was up by 1.13 % and it is now trading at 611.30, from this level further RESISTANCE 625
upside of movement would be expected. Once can go for long position in it at 625 above SUPPORT 559
this level it might be in a bullish trend.

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16th May to 20th May 2011

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WEEK AHEAD
RELIANCE POWER

RELIANCE POWER
Weekly Pivots

STOCK R2 R1 PP S1 S2

RPOWER 120.45 118.1 116.55 114.2 112.65

Technical Picture

Figure: 38 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock had a downward movement this week. Its major support is at 114, a bounce back
from this level may come in the stock. RESISTANCE 126
SUPPORT 114

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16th May to 20th May 2011

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WEEK AHEAD
SIEMENS

SIEMENS
Weekly Pivots

STOCK R2 R1 PP S1 S2

SIEMENS 907.17 889.93 869.77 852.53 832.37

Technical Picture

Figure: 39 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock is currently moving with high volatility. One should wait for further movements in
the stock as it is looking very volatile in terms of price movements. RESISTANCE 890
SUPPORT 822

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16th May to 20th May 2011

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WEEK AHEAD
STERLITE

STERLITE
Weekly Pivots

STOCK R2 R1 PP S1 S2

STER 182.57 175.68 170.92 164.03 159.27

Technical Picture

Figure: 40 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock has tried to take support at lower levels and had a sharp recovery in last a few
trading sessions. Its next resistance is at 178.50, crossing of this level may take the stock RESISTANCE 178.50
further upwards. SUPPORT 162

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16th May to 20th May 2011

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WEEK AHEAD
STATE BANK OF INDIA

STATE BANK OF INDIA


Weekly Pivots

STOCK R2 R1 PP S1 S2

SBIN 2733.48 2691.57 2646.78 2604.87 2560.08

Technical Picture

Figure: 41 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock had a downfall in early trading sessions of the last week and is now consolidating.
Its major support is at 2600. One should now wait for sometime in the stock as it is expected RESISTANCE 2730
to consolidate a bit after a steep downfall. SUPPORT 2600

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16th May to 20th May 2011

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WEEK AHEAD
SAIL

SAIL
Weekly Pivots

STOCK R2 R1 PP S1 S2

SAIL 160.3 157.5 155 152.2 149.7

Technical Picture

Figure: 42 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock had an either side movement this week. Now its major support level is at 150, if it
manages to sustain above this level, a bounce back from lower support levels can be RESISTANCE 157
expected. SUPPORT 150

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WEEKLY
16th May to 20th May 2011

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WEEK AHEAD
SUN PHARMACEUTICAL

SUN PHARMACEUTICAL
Weekly Pivots

STOCK R2 R1 PP S1 S2

SUNPHARMA 452.77 440.03 431.02 418.28 409.27

Technical Picture

Figure: 43 : Nifty50 Graph

TECHNICAL OVERVIEW
Last week also Sun Pharmaceuticals showed negative biasness and closed with moderate
losses. The stock has resistance level at 445 and support level at 420. It is looking indecisive RESISTANCE 445
on chart, in short term it may show consolidation and remain range bound. SUPPORT 420

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WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
GRASIM

SUZLON
Weekly Pivots

STOCK R2 R1 PP S1 S2

GRASIM 2478.98 2412.52 2352.53 2286.07 2226.08

Technical Picture

Figure: 44 : Nifty50 Graph

TECHNICAL OVERVIEW
GRASIM had volatile trading session last week. The stock has resistance level at 2380 and
support level at 2290. As the stock is still looking weak, so it is expected to trade in bearish RESISTANCE 2380
phase. In short term, consolidation with negative biasness can be seen in it. SUPPORT 2290

www.capitalvia.com 45
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
TCS

TCS
Weekly Pivots

STOCK R2 R1 PP S1 S2

TCS 1183.4 1155.25 1131.8 1103.65 1080.2

Technical Picture

Figure: 45 : Nifty50 Graph

TECHNICAL OVERVIEW
TCS consolidated with negative biasness during last week. The stock has support level at
1108 and resistance level at 1160. If it breaches the support level of 1108, further downside RESISTANCE 1160
movements can be seen in it. SUPPORT 1108

www.capitalvia.com 46
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
TATA MOTOR

TATA MOTOR
Weekly Pivots

STOCK R2 R1 PP S1 S2

TATAMOTORS 1270.02 1240.53 1204.72 1175.23 1139.42

Technical Picture

Figure: 46 : Nifty50 Graph

TECHNICAL OVERVIEW
Tata motors consolidated with positive biasness all through last week. The stock has
resistance level of 1244 and it may show some correction if it does not crosses this level. It RESISTANCE 1244
has support level at 1168. SUPPORT 1168

www.capitalvia.com 47
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
TATA STEEL

TATA STEEL
Weekly Pivots

STOCK R2 R1 PP S1 S2

TATASTEEL 612 603 593 584 574

Figure: 47 : Nifty50 Graph

TECHNICAL OVERVIEW
TATA Steel showed sideways movements all through last week. It is expected to consolidate
with negative biasness. The stock has major support level at 574 and it is looking weak RESISTANCE 605
below this level. The stock faces resistance from the level of 605. Although if it continues to SUPPORT 574
sustain above the support level a bounce back may be seen in it.

www.capitalvia.com 48
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
TATA POWER

TATA POWER
Weekly Pivots

STOCK R2 R1 PP S1 S2

TATAPOWER 1289.23 1259.82 1233.08 1203.67 1176.93

Technical Picture

Figure: 48 : Nifty50 Graph

TECHNICAL OVERVIEW
Tata Power consolidated with negative biasness last week and closed almost flat. The stock
has resistance level at 1263 and support level at 1206. In short term it is expected to RESISTANCE 1263
consolidate with negative biasness. Also if it continues to sustain above the support level a SUPPORT 1206
bounce back may be seen in it.

www.capitalvia.com 49
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
SESA GOA

SESA GOA
Weekly Pivots

STOCK R2 R1 PP S1 S2

SESAGOA 314.27 305.63 295.52 286.88 276.77

Technical Picture

Figure: 49 : Nifty50 Graph

TECHNICAL OVERVIEW
The stock has tried to take support at lower levels and is now moving in an up rally. Its next
resistance at 306.50, crossing of this level will take the stock further upwards. RESISTANCE 306.50
SUPPORT 285

www.capitalvia.com 50
WEEKLY
16th May to 20th May 2011

Global Research Limited

WEEK AHEAD
WIPRO

WIPRO
Weekly Pivots

STOCK R2 R1 PP S1 S2

WIPRO 453.38 447.97 439.78 434.37 426.18

Technical Picture

Figure: 50 : Nifty50 Graph

TECHNICAL OVERVIEW
WIPRO consolidated with positive biasness during last week. The stock has support level at
428 and it is looking weak below this level. It has resistance level at 450. In short term it is RESISTANCE 450
expected to consolidate with negative biasness, and if sustain below the support level SUPPORT 428
negative phase seems to continue in it.

www.capitalvia.com 51
WEEKLY
16th May to 20th May 2011

Global Research Limited

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