Technical Research | November 03, 2011

Daily Technical Report

Sensex (17465) / NIFTY (5258)

Exhibit 1: Nifty Daily Chart

Indices opened lower for the second consecutive session

and bounced sharply from the day’s low. However, selling

pressure intensified during the last hour of trade which

dragged indices lower to close on a flat note. On the sector

front, Oil & Gas and Health Care counters ended

marginally in the positive territory whereas Auto and

Banking sectors ended with a nominal loss. The advance

decline ratio was in favor of declining counters (A=1359

D=1449). (Source -www.bseindia.com)

Formation

• The Daily “200 SMA” is placed at the 18020 / 5410

level.

Source: Falcon

Trading strategy:

Actionable points:

Yesterday’s session also opened on a pessimistic note due

to increasing financial uncertainty across global markets.

View

Neutral

However, indices managed to hold the key support level of

Resistance Levels

5300 - 5366

17273 / 5196 and bounced sharply from day’s low. Going

Support Levels

5196 - 5160

forward, yesterday’s high of 17616 / 5300 may act as

strong resistance level. If indices manage to sustain above

this level then they are likely to rally towards 17671 -

17821 / 5322 - 5366 levels. On the downside, 17273 -

17188 / 5196 - 5160 levels remain to act as a strong

support zone in coming trading session.

For Private Circulation Only |

Technical Research | November 03, 2011

Bank Nifty Outlook - (9781)

Exhibit 2: Bank Nifty Daily Chart

Bank nifty opened with a negative bias and traded with

extreme volatility throughout the session. We are witnessing

a negative crossover in momentum oscillators. As a result if

Bank Nifty sustains below yesterday’s low of 9727, it is likely

to drift towards the multiple support zone of 9607- 9500

levels.

On the upside, 9890 - 10080 levels may act as resistance

level for the day.

Actionable points:

View

Neutral

Resistance Levels

9890 - 10080

Support Levels

9607 - 9500

Source: Falcon

Stock Recommendations:

Exhibit 3:Bharti Airtel(Nov Fut) Daily chart

Stock - Bharti Airtel (Nov.Fut.)

Action - Sell

Last close - ` 386.40

Selling Range - ` 388 - ` 391

Stop Loss - ` 394.05

Target

- ` 376

Justification - We are observing a trend line break down in

hourly chart at ` 390 coupled with negative crossover of

“RSI” momentum oscillator on Daily chart. Above technical

evidences indicate possibility of a negative momentum in

coming trading sessions. Consequently, we advise selling

this stock in a range of ` 388 to ` 391 for a target of ` 376

in coming 3 - 4 trading sessions.

Source: Falcon

For Private Circulation Only |

Technical Research | November 03, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,195

17,330

17,473

17,608

17,751

NIFTY

5,159

5,209

5,255

5,304

5,350

BANKNIFTY

9,637

9,709

9,799

9,871

9,961

ACC

1,162

1,174

1,185

1,197

1,208

AMBUJACEM

149

153

155

159

162

AXISBANK

1,105

1,115

1,128

1,138

1,150

BAJAJ-AUTO

1,674

1,696

1,722

1,744

1,770

BHARTIARTL

375

380

388

392

400

BHEL

311

313

317

320

323

BPCL

619

624

631

636

643

CAIRN

293

297

300

304

307

CIPLA

285

287

289

291

292

DLF

228

232

236

239

243

DRREDDY

1,576

1,607

1,630

1,661

1,683

GAIL

410

414

422

427

435

HCLTECH

415

426

434

445

453

HDFC

674

678

684

688

693

HDFCBANK

472

478

483

488

493

HEROMOTOCO

2,029

2,059

2,100

2,130

2,170

HINDALCO

131

134

136

138

141

HINDUNILVR

380

385

388

394

397

ICICIBANK

838

861

883

906

927

IDFC

126

129

133

136

139

INFY

2,799

2,817

2,835

2,853

2,872

ITC

206

208

209

211

213

JINDALSTEL

530

545

555

570

580

JPASSOCIAT

KOTAKBANK

492

497

502

507

513

1,353

1,371

1,385

1,404

1,418

M&M

820

830

840

850

860

MARUTI

1,105

1,115

1,125

1,135

1,145

NTPC

173

174

177

179

181

ONGC

273

276

279

282

286

PNB

956

967

978

990

1,001

POWERGRID

102

103

104

105

RANBAXY

497

505

510

518

523

RCOM

RELCAPITAL

347

357

365

374

383

RELIANCE

843

858

869

884

895

RELINFRA

428

442

454

468

480

RPOWER

102

105

SAIL

107

110

112

115

117

SBIN

1,867

1,888

1,906

1,928

1,946

SESAGOA

203

205

208

210

212

SIEMENS

832

842

850

860

868

STER

119

121

123

125

127

SUNPHARMA

500

505

509

513

517

SUZLON

TATAMOTORS

184

188

192

197

201

TATAPOWER

100

102

103

105

TATASTEEL

453

460

466

474

480

TCS

1,088

1,097

1,110

1,119

1,131

WIPRO

359

367

372

379

384

Technical Research Team

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Technical Report

RESEARCH TEAM

Shardul Kulkarni

Head - Technicals

Sameet Chavan

Technical Analyst

Sacchitanand Uttekar

Technical Analyst

Mehul Kothari

Technical Analyst

Ankur Lakhotia

Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to [email protected]

Research Team: 022-3952 6600

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