Technical Research | January 09, 2012

Daily Technical Report

Sensex (15849) / NIFTY (4747)

Exhibit 1: Nifty Daily Chart

On Friday, indices opened on a flat note and traded with

immense volatility throughout the day. After making one

more attempt of crossing 16070 / 4820 level, indices finally

closed around 15900 / 4750 mark. On the sectoral front,

Oil & Gas, PSU and Banking sectors were among the major

gainers. The advance to decline ratio was in favor of

gaining counters. (A=1570 D=652).

(Source

www.bseindia.com)

Formation:

• The 20 - day EMA (Exponential Moving Average) has

now shifted to the 15846 / 4745 level.

• We are witnessing a positive crossover in weekly

momentum oscillators viz., the RSI and the Stochastic.

• On the Daily chart, we are observing a “Downward

Source: Falcon

Sloping Trend Line” resistance around 16070 / 4820 level.

Actionable points:

Trading strategy:

View

Positive Above 4820

Indices have moved in a narrow range after taking support

Expected Targets

4881 - 4920

around the mentioned levels of 15331 / 4589. Buying

Support level

4686

interest was seen on Friday’s session as indices moved

sharply from day’s low and made one more attempt to

cross the 16070 / 4820 levels. However, markets finally

Therefore, we reiterate that if indices manage to sustain

closed around the 15900 / 4750 mark. We are now

above 16070 / 4820, then they are likely to head towards

witnessing a positive crossover in “RSI” and “Stochastic”

16286 - 16421/ 4881 - 4920 levels. A move beyond

16421 / 4920 may push indices higher to test the next

oscillators. Also, indices have been consistently closing

resistance levels of 16600 - 17004 / 4976 - 5100. On the

above the 20 day - EMA since the past few trading sessions,

downside, 15358 - 15135 / 4588 - 4531 remains to be a

which indicate possibility of a strong positive momentum if

strong support level.

indices manage to sustain above 16070 / 4820. This level

is also coinciding with a “Downward Sloping Trend Line”

resistance.

For Private Circulation Only |

Technical Research | January 09, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,796

15,823

15,861

15,888

15,926

NIFTY

4,733

4,740

4,750

4,757

4,766

BANKNIFTY

8,413

8,433

8,457

8,477

8,501

ACC

1,089

1,095

1,104

1,111

1,120

AMBUJACEM

151

152

153

154

155

AXISBANK

845

848

852

856

859

BAJAJ-AUTO

1,430

1,439

1,454

1,463

1,478

BHARTIARTL

328

329

331

332

334

BHEL

246

248

251

253

255

BPCL

469

473

475

479

481

CAIRN

335

337

338

340

341

CIPLA

333

334

337

338

341

DLF

174

175

177

178

179

DRREDDY

1,597

1,601

1,606

1,611

1,616

GAIL

376

380

382

386

388

HCLTECH

411

413

416

419

422

HDFC

664

666

670

672

676

HDFCBANK

448

450

451

453

455

HEROMOTOCO

1,708

1,719

1,733

1,744

1,758

HINDALCO

117

118

119

HINDUNILVR

393

394

396

397

399

ICICIBANK

740

743

746

748

751

IDFC

INFY

2,815

2,825

2,838

2,848

2,862

ITC

201

202

203

JINDALSTEL

454

461

465

471

475

JPASSOCIAT

KOTAKBANK

445

448

451

454

457

1,075

1,079

1,084

1,088

1,093

M&M

648

651

655

658

663

MARUTI

934

944

951

961

968

NTPC

156

157

158

ONGC

255

256

257

258

PNB

807

811

816

820

826

POWERGRID

100

101

RANBAXY

432

436

439

443

446

RCOM

RELCAPITAL

251

257

261

266

270

RELIANCE

710

712

716

718

721

RELINFRA

365

371

376

382

387

RPOWER

SAIL

SBIN

1,650

1,659

1,672

1,682

1,694

SESAGOA

164

165

166

167

SIEMENS

657

663

668

673

678

STER

SUNPHARMA

496

498

500

502

504

SUZLON

TATAMOTORS

202

203

204

205

TATAPOWER

TATASTEEL

360

361

363

364

366

TCS

1,165

1,169

1,174

1,178

1,183

WIPRO

404

406

407

408

410

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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