Technical Research | January 06, 2012

Daily Technical Report

Sensex (15857) / NIFTY (4750)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened flat and similar to Wednesday’s

session traded with extreme volatility throughout the day. As

a result, indices closed near the 4750 mark. On the sectoral

front, Oil & Gas, Realty and Metal sectors were among the

major losers, whereas Auto and Capital Goods counters

ended on a gaining side. The advance to decline ratio was

in favor of gaining counters. (A=1443 D=1236). (Source -

www.bseindia.com)

Formation

• The 20 day EMA has now shifted to 15839 / 4743

level.

• On the Daily chart, the positive crossover in RSI,

Stochastic, “3 & 8” EMA and ADX (9) is still intact.

• The Daily chart depicts a candlestick pattern which

Source: Falcon

resembles a “Long Legged Doji”.

Actionable points:

Trading strategy:

View

Positive Above 4820

Expected Targets

4881 - 4920

Yet another trading session ended with high volatility and

Support levels

4725 - 4675

indices failed to cross 16070 / 4820 level. Therefore, this

level remains to be a stiff and important resistance level for

View

Negative Below 4728

Expected Targets

4708 - 4685

the markets. The positive crossover in mentioned technical

Resistance levels

4783 - 4820

tools may come into action if indices break and sustain

above 16070 / 4820. In this case, strong buying is likely to

emerge and indices then may head towards the next

resistance levels of

16286

16421/

4881

4920.

Conversely, we are now observing a “Long Legged Doji”

candlestick pattern, which indicates uncertainty among the

bulls and the bears. Thus, a selling pressure may increase

on the violation of yesterday’s low of 15809 / 4728. In this

scenario, indices may test 15756 - 15680 / 4708 - 4685

levels.

For Private Circulation Only |

Technical Research | January 06, 2012

Bank Nifty Outlook - (8455)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on an optimistic note and

traded with extreme volatility throughout the session. The

index has closed well above the “20 EMA” which is a sign of

strength. On the contrary, we are witnessing a negative

crossover in “RSI - Smoothened” oscillator on the hourly

chart, which indicates bearishness. Therefore, if Bank Nifty

sustains below yesterday’s low of 8394, then it is likely to test

the 8322 - 8275 levels. On the upside, 8520 is likely to act

as resistance in coming trading session. A sustainable move

above 8520 level may lead to a further rise and index may

test the resistance zone of 8580 - 8604.

Actionable points:

View

Positive Above 8520

Expected Target

8580 - 8604

Support Levels

8322 -8275

View

Negative Below 8394

Expected Target

8322 - 8275

Resistance Levels

8520

Stock Recommendations:

Exhibit 3: TATA COFFEE ltd. (NSE Cash)

Stock - TATA COFFEE ltd. (NSE Cash)

Action - Buy

Last close

` 797.45

Buying Range

` 795 - `801

Stop Loss

` 777

Target

` 852

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

trend line breakout at ` 796 with significant rise in volumes.

We are even witnessing a positive crossover in “5 & 20

EMA” on a daily chart, which suggest further upside in

coming trading sessions. Hence, we advise buying the stock

in the range of ` 795 - ` 801 for a target of ` 852 in

coming 3 - 4 trading sessions.

Source: Falcon

For Private Circulation Only |

Technical Research | January 06, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,711

15,784

15,882

15,955

16,053

NIFTY

4,704

4,727

4,753

4,776

4,803

BANKNIFTY

8,333

8,394

8,455

8,516

8,577

ACC

1,065

1,089

1,106

1,130

1,147

AMBUJACEM

142

148

151

157

161

AXISBANK

831

851

865

885

899

BAJAJ-AUTO

1,400

1,434

1,454

1,488

1,508

BHARTIARTL

338

341

345

348

352

BHEL

247

251

256

260

264

BPCL

448

454

464

470

480

CAIRN

322

331

336

345

350

CIPLA

327

331

335

339

342

DLF

173

177

182

185

191

DRREDDY

1,553

1,567

1,585

1,599

1,616

GAIL

369

375

385

391

401

HCLTECH

405

410

417

422

430

HDFC

655

663

668

676

681

HDFCBANK

437

440

444

447

450

HEROMOTOCO

1,757

1,793

1,818

1,853

1,879

HINDALCO

114

115

117

118

120

HINDUNILVR

384

389

394

398

403

ICICIBANK

730

739

748

757

766

IDFC

100

103

105

INFY

2,805

2,822

2,849

2,867

2,894

ITC

197

198

199

201

202

JINDALSTEL

470

476

481

486

491

JPASSOCIAT

KOTAKBANK

426

436

442

452

458

1,053

1,070

1,083

1,100

1,113

M&M

620

635

643

659

667

MARUTI

913

923

936

946

958

NTPC

152

154

158

160

163

ONGC

255

259

264

267

273

PNB

785

806

821

842

856

POWERGRID

100

101

102

103

RANBAXY

428

434

439

445

451

RCOM

RELCAPITAL

240

244

247

251

255

RELIANCE

675

687

706

718

737

RELINFRA

349

354

360

365

371

RPOWER

SAIL

SBIN

1,659

1,675

1,697

1,714

1,736

SESAGOA

159

162

165

168

171

SIEMENS

649

655

661

667

673

STER

SUNPHARMA

489

495

503

508

516

SUZLON

TATAMOTORS

197

200

203

205

208

TATAPOWER

TATASTEEL

352

358

365

370

377

TCS

1,157

1,165

1,175

1,182

1,192

WIPRO

405

410

416

422

428

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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