Technical Research | November 09, 2011

Daily Technical Report

Sensex (17570) / NIFTY (5289)

Exhibit 1: Nifty Daily Chart

Markets opened quietly and corrected marginally during the

first half of the session. However, buying attracted at lower

levels during the second half which pushed indices higher to

close slightly below 17600 / 5300 mark. On the sectoral

front, the Realty and Health Care counters were among the

major losers Consumer Durables sector ended on a gaining

side. The advance decline ratio was in favor of advancing

counters (A=1434 D=1399). (Source -www.bseindia.com)

Formation

• On the Weekly chart, the “Downward Sloping Trend

Line” is now placed around the 18100 / 5450 level.

• The Daily “200 SMA” is placed at 18000 / 5400 level.

• The “20 EMA” on the Daily and Weekly chart is placed

at 17165 / 5165 and 17300 / 5200, respectively.

• The positive crossover in the Weekly ADX (9) indicator is

Source: Falcon

still intact.

(Note: All technical evidences mentioned in earlier report

are almost unchanged; therefore, we continue to mention

them)

Trading strategy:

Actionable points:

After flat opening indices corrected towards the intraday

View

Neutral

support level of 17450 / 5250 and bounced from these

Resistance Levels

5326 - 5365

levels during second half of the session. As mentioned in

Support Levels

5200 - 5160

our earlier reports, the support remains to be at 17300 -

17165 / 5200 - 5160 levels. On the upside, yesterday’s

high of 17632 / 5304 level would act as an immediate

resistance. If indices manage to sustain above this level then

they are likely to move towards 17700 - 17820 / 5326 -

5365 levels.

For Private Circulation Only |

Technical Research | November 09, 2011

Bank Nifty Outlook - (9853)

Exhibit 2: Bank Nifty Daily Chart

Bank nifty opened on a flat note and drifted lower during

initial part of the session. However, during the second half

buying emerged near day’s low, which led Bank Nifty to

close near the initial opening level. We are witnessing a

“Doji” candle formation, which is a sign of indecisiveness at

current levels. Only a sustainable move above 9914 level

will lead the index to test the next resistance level of 10080.

On the downside, 9733 - 9647 levels may act as support

levels for the day.

Actionable points:

View

Neutral

Resistance Levels

9914 - 10080

Support Levels

9733 - 9647

Source: Falcon

Stock Recommendations:

Exhibit 3:Jet Airways (NSE Cash) Daily chart

Stock - Jet Airways (NSE Cash)

Action - Buy

Last close - ` 267.45

Buying Range - ` 267 - ` 262

Stop Loss - ` 255.45

Target

- ` 288

Justification - On the Daly chart, the stock has given a

downward sloping trend line breakout at `

264 with

significant rise in volumes. Moreover, we are observing a

positive crossover in Weekly “RSI - Smoothened” oscillator.

Combining above technical evidences, it seems that the

stock has a potential to rally in coming days. Hence, we

advise traders to buy this stock from current level to a

decline up to ` 262 for a target of ` 288 in coming 2 - 3

Weeks.

Source: Falcon

For Private Circulation Only |

Technical Research | November 09, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,375

17,472

17,552

17,649

17,729

NIFTY

5,230

5,259

5,282

5,312

5,334

BANKNIFTY

9,665

9,759

9,826

9,920

9,988

ACC

1,202

1,210

1,220

1,228

1,238

AMBUJACEM

158

160

162

165

167

AXISBANK

1,117

1,128

1,141

1,153

1,166

BAJAJ-AUTO

1,695

1,709

1,732

1,746

1,768

BHARTIARTL

391

394

398

401

405

BHEL

332

333

336

337

340

BPCL

585

594

610

619

635

CAIRN

301

311

317

327

333

CIPLA

286

289

291

294

296

DLF

232

238

244

249

255

DRREDDY

1,588

1,605

1,619

1,636

1,650

GAIL

416

419

423

426

430

HCLTECH

420

424

431

436

443

HDFC

666

673

682

688

697

HDFCBANK

475

479

483

488

492

HEROMOTOCO

2,087

2,103

2,127

2,144

2,168

HINDALCO

136

138

140

142

144

HINDUNILVR

373

377

382

386

390

ICICIBANK

863

872

880

889

896

IDFC

122

124

127

129

132

INFY

2,770

2,806

2,827

2,863

2,884

ITC

207

209

210

212

214

JINDALSTEL

562

568

575

581

588

JPASSOCIAT

KOTAKBANK

485

492

499

506

512

1,366

1,379

1,392

1,406

1,419

M&M

821

828

837

845

854

MARUTI

1,109

1,117

1,125

1,133

1,141

NTPC

175

176

178

180

182

ONGC

270

274

281

285

292

PNB

955

967

977

989

999

POWERGRID

103

104

RANBAXY

487

492

500

504

512

RCOM

RELCAPITAL

359

367

372

381

386

RELIANCE

863

873

879

890

896

RELINFRA

453

464

471

483

490

RPOWER

100

102

105

106

SAIL

107

109

110

112

114

SBIN

1,943

1,970

1,987

2,014

2,031

SESAGOA

205

209

212

215

218

SIEMENS

833

842

853

862

874

STER

121

122

124

125

126

SUNPHARMA

483

491

503

511

523

SUZLON

TATAMOTORS

183

186

189

192

194

TATAPOWER

101

102

103

104

106

TATASTEEL

460

464

468

472

476

TCS

1,087

1,096

1,105

1,115

1,124

WIPRO

364

367

370

373

376

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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