Technical Research | February 06, 2012

Daily Technical Report

Sensex (17605) / NIFTY (5326)

Exhibit 1: Nifty Daily Chart

On Friday, markets opened on a flat note and traded in a

narrow range during the first half of the session. However,

in the later half, strong buying emerged which led indices to

close near the highest point of the day. On the sectoral

front, Realty, Health Care and power counters were among

the major gainers, whereas Metal counters ended on a

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

advancing counters. (A=1717 D=1166) (Source

www.bseindia.com)

Formation:

• We are now observing a positive crossover in “ADX

(14)” indicator.

• Indices have convincingly closed above the “Downward

Sloping Trend Line” drawn by joining November 12,

2010, weekly high of 21076 / 6336 and July 29,

2011, weekly high of 18945 / 5702.

• The 200-day SMA level has now shifted to 17200 /

5200.

Source: Falcon

• The “RSI-Smoothened” oscillator on daily chart is

placed in extreme overbought territory.

Actionable points:

Trading strategy:

View

Neutral

After a weak opening, indices managed to find decent

Resistance levels

5400

support around

16757

5055 level. As the week

Support levels

5225 - 5159

progressed, markets continued to cross all resistances and a

rally on Friday’s session led indices to close at the highest

A minor correction or a consolidation before crossing

point of the week. It is now confirmed that indices have

this resistance would be the ideal scenario for a

broken out from the mentioned “Downward Sloping Trend

breakout. The possibility of this minor correction cannot

Line” drawn by joining November 12, 2010, weekly high of

be ruled out as the daily “RSI-Smoothened” is placed

21076 / 6336 and July 29, 2011, weekly high of 18945 /

well within the extreme overbought territory. A

5702 and have closed well above it. Further, on the weekly

sustainable move beyond 17908 / 5400 level may push

chart, we are now observing a positive crossover in “ADX

indices to test next resistance levels of 18440 - 18932 /

(14)” indicator coupled with positively poised “RSI-

5552 - 5702. Conversely, 17308 - 17061 - 16965 /

Smoothened” oscillator. Hence, we may witness a strong

5225 - 5159 - 5120 levels are expected to act as

up move if indices sustain above strong and important

supports in coming trading sessions.

resistance level of 17908 / 5400.

For Private Circulation Only |

Technical Research | February 06, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,292

17,448

17,539

17,696

17,787

NIFTY

5,226

5,276

5,305

5,355

5,385

BANKNIFTY

9,843

9,988

10,074

10,219

10,304

ACC

1,242

1,255

1,265

1,278

1,288

AMBUJACEM

168

170

172

174

176

AXISBANK

1,042

1,071

1,090

1,119

1,138

BAJAJ-AUTO

1,583

1,597

1,617

1,631

1,651

BHARTIARTL

376

382

391

397

407

BHEL

256

261

263

267

270

BPCL

563

569

579

585

595

CAIRN

329

337

343

350

356

CIPLA

337

341

344

349

352

COALINDIA

321

324

327

330

333

DLF

221

226

229

234

237

DRREDDY

1,616

1,643

1,663

1,690

1,709

GAIL

387

389

392

394

396

HCLTECH

441

448

456

462

470

HDFC

680

688

694

702

708

HDFCBANK

490

498

503

511

516

HEROMOTOCO

1,912

1,932

1,961

1,981

2,010

HINDALCO

147

150

154

157

161

HINDUNILVR

386

394

399

407

412

ICICIBANK

882

899

909

926

936

IDFC

125

132

135

142

146

INFY

2,720

2,752

2,772

2,803

2,824

ITC

195

198

200

202

204

JINDALSTEL

537

546

562

572

588

JPASSOCIAT

KOTAKBANK

493

506

513

526

533

1,323

1,339

1,352

1,368

1,381

M&M

687

699

708

720

730

MARUTI

1,184

1,213

1,233

1,262

1,282

NTPC

169

173

175

179

181

ONGC

270

276

280

286

290

PNB

930

946

956

973

983

POWERGRID

104

105

107

108

110

RANBAXY

441

448

458

465

476

RCOM

100

RELIANCE

807

823

831

847

856

RELINFRA

538

547

556

566

574

RPOWER

100

102

103

SAIL

103

104

106

107

108

SBIN

2,005

2,054

2,086

2,135

2,167

SESAGOA

224

227

232

235

240

SIEMENS

723

737

744

758

765

STER

119

121

122

124

126

SUNPHARMA

533

545

551

563

569

SUZLON

TATAMOTORS

237

242

246

252

255

TATAPOWER

110

111

112

114

115

TATASTEEL

453

460

467

474

481

TCS

1,128

1,150

1,163

1,185

1,198

WIPRO

419

423

426

430

433

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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