Technical Research | March 02, 2012

Daily Technical Report

Sensex (17584) / NIFTY (5340)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened with a downside gap and

traded with negative bias almost throughout the day. We

observed selling pressure on the violation of Wednesday’s

low of 17677 / 5352. This has resulted in closing well

inside the negative territory for the day. On the sectoral

front, Realty, Capital Goods and Banking counters were

among the major losers, whereas Health Care sector ended

with a nominal gain. The advance to decline ratio was in

favor of declining counters. (A=1243 D=1586) (Source -

www.bseindia.com)

Formation:

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

17200 / 5170 and 17692 / 5362, respectively.

• The weekly “Stochastic” oscillator is negatively poised.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

Indices opened on a pessimistic note and continued to drift

Resistance Levels

5360 - 5397

downwards right from the initial trade of the session.

Support levels

5297 - 5268

Further, momentum increased on the downside on the

violation of 17677 / 5352 level. As a result, in line with

expectations, we witnessed a sharp corrective towards the

5300 mark. We are now observing that a minor bounce

during the latter part of the session pushed indices towards

“Hourly 20-EMA” and eventually closed marginally below it.

Hence, going forward, the immediate resistance is seen

around “Hourly 20-EMA” which is placed at 17670 / 5360

level. A move beyond this may push indices higher to test

17795 - 18000 / 5397 - 5459 levels. On the downside, a

breach of

17463

5297 level may intensify selling

pressure, which may drag indices towards 17381 - 1720 /

5268 - 5200 levels.

For Private Circulation Only |

Technical Research | March 02, 2012

Bank Nifty Outlook - (10283)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and selling

pressure was witnessed throughout the day which led the

index to close in the negative territory. The index traded in

our mentioned range of 10800 - 10200. The positive

crossover mentioned in “stochastic” momentum oscillator

in our previous report is still intact. We reiterate our view

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. Within the

mentioned range the index is likely to find resistance at

10542 - 10667 - 10800 levels. On the downside a fall

below 10200 is likely to attract selling pressure and the

Bank nifty may test 10073 levels Any violation of the said

support level will intensify the selling pressure further

which may lead the index to test the support zone of

9900 - 9843.

Actionable points:

View

Neutral

Resistance Levels

10542 - 10667 - 10800

Support Levels

10200 - 10073

Source: Falcon

For Private Circulation Only |

Technical Research | March 02, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,334

17,459

17,588

17,713

17,843

NIFTY

5,262

5,301

5,337

5,376

5,412

BANKNIFTY

10,053

10,171

10,278

10,396

10,503

ACC

1,258

1,290

1,317

1,349

1,376

AMBUJACEM

157

161

163

167

170

AXISBANK

1,111

1,132

1,153

1,174

1,196

BAJAJ-AUTO

1,706

1,740

1,779

1,813

1,853

BHARTIARTL

341

343

347

350

353

BHEL

290

295

300

305

310

BPCL

604

631

650

678

696

CAIRN

363

370

374

381

385

CIPLA

307

311

316

320

324

COALINDIA

327

331

335

338

342

DLF

184

199

212

227

240

DRREDDY

1,604

1,636

1,662

1,694

1,721

GAIL

363

368

374

379

385

HCLTECH

470

476

481

486

491

HDFC

655

662

667

674

678

HDFCBANK

497

505

514

522

531

HEROMOTOCO

1,884

1,911

1,947

1,973

2,009

HINDALCO

140

145

149

154

157

HINDUNILVR

375

377

380

383

386

ICICIBANK

853

868

885

901

918

IDFC

131

134

138

141

146

INFY

2,776

2,816

2,846

2,886

2,916

ITC

202

204

207

210

212

JINDALSTEL

549

562

576

589

603

JPASSOCIAT

KOTAKBANK

524

540

557

572

589

1,239

1,259

1,281

1,301

1,324

M&M

646

664

686

704

727

MARUTI

1,221

1,268

1,295

1,342

1,369

NTPC

170

173

178

181

186

ONGC

278

283

290

295

301

PNB

918

933

947

962

975

POWERGRID

110

111

113

114

115

RANBAXY

417

421

427

431

437

RCOM

RELIANCE

793

802

810

819

828

RELINFRA

568

589

602

624

637

RPOWER

113

118

121

126

129

SAIL

101

105

108

SBIN

2,163

2,191

2,214

2,242

2,266

SESAGOA

207

210

213

216

219

SIEMENS

769

791

804

826

839

STER

120

122

124

126

128

SUNPHARMA

539

545

554

560

570

SUZLON

TATAMOTORS

260

264

269

272

277

TATAPOWER

112

114

116

118

119

TATASTEEL

449

456

464

471

479

TCS

1,202

1,211

1,219

1,228

1,236

WIPRO

411

418

426

432

440

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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