Technical Research | December 01, 2011

Daily Technical Report

Sensex (16123) / NIFTY (4832)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a highly volatile trading session

where our Benchmark indices tested the mentioned

resistance as well as support levels of the day. The indices

opened lower but ended on a positive note. On the sectoral

front, Oil & Gas and FMCG counters were among the

major gainers whereas Consumer Durables ended with

marginal loss. The advance decline ratio was in favour of

declining counters (A=1204 D=1521).

(Source

www.bseindia.com)

Formation

• On the Daily chart, the momentum oscillator viz. the

“RSI Smoothened” has given a positive crossover.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

Our markets opened lower and traded with extreme

Resistance levels

4866 - 4932

volatility throughout the day. On the downside, indices

Support levels

4755 - 4693

tested the mentioned support level of 15888 / 4766.

However, buying emerged near this level which led the

indices to test resistance level of 16135 / 4844. On the

Daily chart, we are witnessing a positive crossover in

momentum oscillator viz. the “RSI Smoothened”, which

indicates further strength. Going forward, if indices trades

convincingly above the resistance level of 16210 / 4866,

then they are likely to test the “20 Day EMA” placed at

16430 / 4932 level. On the downside, 15850 - 15645 /

4755 - 4693 levels may act as support for coming trading

sessions.

We are of the opinion that the collective policy changes by

central banks across the world have not been factored in by

our markets. Positional traders with short positions are

advised to exit on any closing above 16430 / 4932 level.

For Private Circulation Only |

Technical Research | December 01, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,721

15,922

16,051

16,252

16,381

NIFTY

4,716

4,774

4,813

4,871

4,910

BANKNIFTY

8,372

8,468

8,586

8,682

8,800

ACC

1,126

1,135

1,144

1,153

1,162

AMBUJACEM

142

145

148

151

154

AXISBANK

914

931

953

970

992

BAJAJ-AUTO

1,606

1,637

1,663

1,695

1,721

BHARTIARTL

359

373

381

394

403

BHEL

270

276

280

287

290

BPCL

507

522

533

548

558

CAIRN

296

299

301

304

307

CIPLA

322

325

327

330

333

DLF

194

201

206

212

217

DRREDDY

1,550

1,564

1,577

1,591

1,604

GAIL

379

386

390

397

401

HCLTECH

373

378

386

391

399

HDFC

616

629

638

651

661

HDFCBANK

420

431

440

452

461

HEROMOTOCO

1,903

1,951

2,019

2,068

2,136

HINDALCO

119

121

122

124

126

HINDUNILVR

381

389

395

403

409

ICICIBANK

688

700

717

730

747

IDFC

106

107

109

110

112

INFY

2,534

2,570

2,598

2,634

2,662

ITC

194

198

200

203

205

JINDALSTEL

462

483

497

518

532

JPASSOCIAT

KOTAKBANK

441

454

462

475

483

1,239

1,256

1,267

1,283

1,294

M&M

692

709

720

737

749

MARUTI

943

957

967

982

991

NTPC

154

158

161

165

168

ONGC

249

258

264

273

279

PNB

865

874

882

890

898

POWERGRID

101

103

RANBAXY

417

426

439

447

460

RCOM

RELCAPITAL

271

276

283

288

295

RELIANCE

741

760

772

790

802

RELINFRA

392

398

407

413

422

RPOWER

SAIL

SBIN

1,695

1,729

1,762

1,796

1,829

SESAGOA

174

179

182

187

190

SIEMENS

658

674

687

703

717

STER

100

102

104

SUNPHARMA

500

513

521

534

542

SUZLON

TATAMOTORS

166

169

173

176

180

TATAPOWER

TATASTEEL

378

382

385

389

392

TCS

1,065

1,090

1,107

1,132

1,148

WIPRO

367

372

377

382

387

Technical Research Team

For Private Circulation Only |

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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