Technical Research | March 06, 2012

Daily Technical Report

Sensex (17363) / NIFTY (5280)

Exhibit 1: Nifty Daily Chart

The week has begun on a pessimistic note, as markets

opened with a downside gap and continued to trade with

negative bias throughout the session. The anxiety amongst

market participants with regards to the political

developments in Uttar Pradesh was clearly visible and

volumes remained subdued in comparison to average. On

the sectoral front, Realty, Metal and Banking counters were

among the major losers, whereas FMCG sector ended with

a nominal gain. The advance to decline ratio was strongly

in favor of declining counters. (A=981 D=1851) (Source -

www.bseindia.com)

Formation:

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

17180 / 5167 and 17682 / 5362, respectively.

• The weekly “Stochastic” oscillator is still negatively

poised.

Source: Falcon

Actionable points:

Trading strategy:

View

Negative Below 5265

After a weak opening, indices continued to drift further

Expected Targets

5210 - 5167

down as the day progressed on the back of negative global

Resistance levels

5297 - 5345

cues and rupee appreciation. Volumes remained lower as

participants are awaiting clarity on the election results in

On the upside, 17463 - 17600 / 5297 - 5345 levels may

Uttar Pradesh. As mentioned in our previous report, 17381

act as strong resistance in coming trading session. Traders

/ 5268 level provided decent support for the markets during

should take a note that the coming trading session is

yesterday’s session. Considering the global clues it is likely

likely to witness extreme volatility on account of the

that our markets will open with a negative bias. Going

results from the UP elections.

forward, if indices manage to sustain below yesterday’s low

of 13312 / 5265, then they are likely to slide further

towards the 200-day SMA” support zone of 17230 -

17180 / 5210 - 5167.

For Private Circulation Only |

Technical Research | March 06, 2012

Bank Nifty Outlook - (10179)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened with a minor downside gap

and selling pressure dominated throughout the session.

This led the index to close marginally below the lower end

of the mentioned range of 10800 - 10200. We are now

witnessing a trend line breakdown formed by joining the

lows of January 30, 2012 - February 27, 2012 coupled

with negative crossover in “5 & 20 EMA”. The “RSI”

momentum oscillator has dropped below

50 which

suggest weakness in the index. The effect of these

technical tools will come into force if Bank Nifty sustains

below yesterday’s low of 10152. In such a scenario index

is likely to drift towards 10073 - 9900 levels. On the

upside

10368

10407 levels are likely to act as

resistance in coming trading session.

Actionable points:

View

Negative Below 10150

Expected Target

10073 - 9900 - 9838

Resistance Levels

10368 - 10407

Source: Falcon

For Private Circulation Only |

Technical Research | March 06, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,144

17,254

17,422

17,531

17,699

NIFTY

5,218

5,249

5,297

5,328

5,376

BANKNIFTY

9,991

10,085

10,246

10,340

10,501

ACC

1,262

1,281

1,305

1,324

1,349

AMBUJACEM

157

160

164

166

171

AXISBANK

1,128

1,139

1,154

1,165

1,180

BAJAJ-AUTO

1,672

1,687

1,708

1,724

1,745

BHARTIARTL

340

345

350

354

359

BHEL

278

281

287

291

296

BPCL

652

659

670

678

689

CAIRN

365

367

371

374

378

CIPLA

308

310

313

315

318

COALINDIA

322

325

328

331

334

DLF

183

187

195

200

208

DRREDDY

1,655

1,665

1,680

1,690

1,705

GAIL

340

346

359

366

379

HCLTECH

464

472

478

487

493

HDFC

646

652

660

665

673

HDFCBANK

497

504

512

519

528

HEROMOTOCO

1,828

1,857

1,903

1,932

1,978

HINDALCO

135

137

142

145

149

HINDUNILVR

375

379

381

385

387

ICICIBANK

850

860

879

889

907

IDFC

135

137

140

143

146

INFY

2,756

2,783

2,823

2,850

2,891

ITC

202

204

206

209

210

JINDALSTEL

544

556

572

584

600

JPASSOCIAT

KOTAKBANK

551

555

559

563

568

1,241

1,254

1,272

1,285

1,302

M&M

661

668

676

683

691

MARUTI

1,295

1,305

1,319

1,330

1,344

NTPC

172

174

176

178

180

ONGC

273

278

282

288

292

PNB

906

923

943

961

980

POWERGRID

107

109

111

112

114

RANBAXY

409

413

421

425

432

RCOM

102

RELIANCE

782

790

802

810

822

RELINFRA

599

628

653

682

707

RPOWER

128

132

135

139

142

SAIL

102

107

SBIN

2,122

2,149

2,192

2,219

2,262

SESAGOA

201

204

207

209

212

SIEMENS

715

741

768

794

822

STER

117

119

121

122

124

SUNPHARMA

546

552

562

568

579

SUZLON

TATAMOTORS

263

268

272

278

281

TATAPOWER

110

112

114

116

118

TATASTEEL

438

445

455

461

471

TCS

1,189

1,198

1,210

1,220

1,232

WIPRO

417

424

429

437

442

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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