Technical Research | March 01, 2012

Daily Technical Report

Sensex (17753) / NIFTY (5385)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened with a significant upside gap

and continued to move higher during the first half to test

mentioned resistance at 17975 - 5450. Post mid-session,

strong selling pressure eventually dragged indices lower to

close with nominal gains. On the sectoral front, Oil & Gas,

PSU and Metal counters were among the major gainers,

whereas Capital Goods and FMCG sectors ended with a on

a losing side. The advance to decline ratio was in favor of

advancing counters. (A=1581 D=1311) (Source

www.bseindia.com)

Formation:

• The 200-day SMA and 20-day EMA have now shifted to

17200 / 5170 and 17720 / 5370, respectively.

• The weekly “Stochastic” oscillator is negatively poised.

Source: Falcon

Trading strategy:

Actionable points:

View

Negative below 5352

After a strong bounce back on Tuesday’s session, we

Expected targets

5306 - 5268

witnessed a gap up opening during yesterday’s session.

Resistance levels

5459

Subsequently, indices moved higher during the initial trade

to test Tuesday’s high of 17975 / 5450. Looking at the

global indices and the charts of the dollar index it is likely

that our markets may open lower. Going forward, if indices

sustain below yesterday’s low of 17677 / 5352, then they

are likely to drift towards the next support levels of 17530 -

17381 / 5306 - 5268. Conversely, yesterday’s high of

18001 / 5459 is likely to act as a resistance in coming

trading session. A move beyond this may push indices

higher to test 18200 / 5520 level.

For Private Circulation Only |

Technical Research | March 01, 2012

Bank Nifty Outlook - (10414)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened with an upside gap and

traded with extreme volatility throughout the day. We are

now witnessing a positive crossover in “stochastic”

momentum oscillator on the daily chart. However, on the

contrary on hourly chart we are witnessing a negative

crossover in “5 & 20 EMA”. Looking at the mixed signals

on hourly and daily charts we are of the opinion that the

index is likely to be in the range of 10800 - 10200. Only

a sustainable move outside the said range will dictate a

clear direction of the trend. In such a scenario index is

likely to find resistance at 10667 - 10800 levels. On the

downside 10200 - 10073 levels are likely to act as

support in coming trading session.

Actionable points:

View

Neutral

Resistance Levels

10667 - 10800

Support Levels

10200 - 10073

Source: Falcon

For Private Circulation Only |

Technical Research | March 01, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,487

17,620

17,811

17,943

18,134

NIFTY

5,292

5,339

5,399

5,445

5,505

BANKNIFTY

10,148

10,281

10,474

10,607

10,801

ACC

1,279

1,293

1,306

1,320

1,333

AMBUJACEM

154

157

162

166

171

AXISBANK

1,133

1,155

1,183

1,205

1,232

BAJAJ-AUTO

1,738

1,770

1,807

1,838

1,875

BHARTIARTL

340

345

349

354

358

BHEL

292

300

312

319

331

BPCL

648

655

662

670

677

CAIRN

359

364

367

373

376

CIPLA

310

313

320

323

330

COALINDIA

329

332

334

336

338

DLF

219

223

228

232

237

DRREDDY

1,601

1,622

1,641

1,662

1,681

GAIL

366

370

375

379

384

HCLTECH

480

483

484

487

488

HDFC

649

656

668

675

686

HDFCBANK

497

507

523

534

550

HEROMOTOCO

1,879

1,912

1,964

1,997

2,049

HINDALCO

142

145

148

152

155

HINDUNILVR

374

377

382

385

390

ICICIBANK

884

895

909

920

933

IDFC

135

138

142

145

148

INFY

2,841

2,862

2,885

2,906

2,929

ITC

203

205

209

212

215

JINDALSTEL

549

566

589

606

629

JPASSOCIAT

KOTAKBANK

527

537

552

562

576

1,246

1,277

1,328

1,359

1,410

M&M

677

693

706

722

734

MARUTI

1,226

1,241

1,266

1,280

1,306

NTPC

178

179

181

183

185

ONGC

288

290

294

297

301

PNB

924

939

960

975

996

POWERGRID

111

112

113

114

115

RANBAXY

414

421

431

438

447

RCOM

100

RELIANCE

794

807

818

831

841

RELINFRA

558

576

601

619

643

RPOWER

112

116

120

123

127

SAIL

101

103

105

106

SBIN

2,189

2,218

2,253

2,282

2,317

SESAGOA

203

209

212

218

221

SIEMENS

769

783

803

817

837

STER

120

122

124

126

128

SUNPHARMA

534

542

554

562

574

SUZLON

TATAMOTORS

261

266

272

277

284

TATAPOWER

110

113

115

117

120

TATASTEEL

453

463

469

479

485

TCS

1,197

1,209

1,225

1,237

1,252

WIPRO

415

424

430

439

445

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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