Technical Research | March 09, 2012

Daily Technical Report

Sensex (17146) / NIFTY (5220)

Exhibit 1: Nifty Daily Chart

One Wednesday, markets again opened lower but

managed to show strength in the later half to finally close in

green. As mentioned and expected, our benchmark indices

found some support near 200-day SMA. On the sectoral

front, the recovery was lead by Realty, IT and Banking

counters whereas Oil & Gas and Metal sectors once again

remained under pressure. The advance to decline ratio was

in favor of declining counters. (A=1141 D=1690) (Source -

www.bseindia.com)

Formation:

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

17180 / 5164 and 17682 / 5330, respectively.

• The 38.8 % and 50 % Fibonacci retracement of the rise

from 15135 / 4530 to 18524 / 5630 levels are at

17230 / 5210 and 16830 / 5080 respectively.

• The Daily chart depicts a Japanese candlestick pattern

which resembles a “Hammer” near 200-day SMA.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

In our previous trading session, we witnessed that initially

Resistance Levels

5244 - 5284 - 5330

indices drifted lower to test mentioned support level of

Support level

5164 / 5080

17000 / 5167and later pulled back to close in the green.

Now on the Daily chart, we are witnessing a Japanese

candlestick pattern which resembles a “Hammer” near 200-

day SMA which needs confirmation. The global cues

suggest that our Benchmark indices might open with

positive bias. Going forward, a closing above 5244 level

which is the high of “Hammer” would confirm the bullish

implication of the pattern. In such scenario, indices are

likely to test 17362 - 17562 / 5284 - 5330 levels. On

the downside, 17000 / 5164 may act as strong support in

coming trading session.

For Private Circulation Only |

Technical Research | March 09, 2012

Bank Nifty Outlook - (10133)

Exhibit 2: Bank Nifty Daily Chart

On Wednesday, Bank Nifty opened on lower in line with

our benchmark indices but contributed significantly to the

bullish undertone in the later of the day. Strong buying

emerged near the mentioned support zone of 9900 -

9838 which led the index to close near the highest point

of the day. As mentioned in our earlier report, the “RSI”

momentum oscillator is still below 50 and there is a

negative crossover in “5 & 20 EMA”. However, the

oversold condition of “stochastic” momentum oscillator

on daily chart indicates a possibility of a minor pullback.

Thus, if the index sustains above Wednesday’s high of

10169, then it is likely to test 10294 - 10438 levels. On

the downside 9900 - 9833 levels are likely to act as

support in coming trading session.

Actionable points:

View

Bullish

Expected Targets

10294 - 10438

Support Levels

9900 - 9833

Source: Falcon

For Private Circulation Only |

Technical Research | March 09, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,901

17,023

17,131

17,254

17,362

NIFTY

5,140

5,180

5,212

5,252

5,284

BANKNIFTY

9,851

9,992

10,081

10,222

10,310

ACC

1,270

1,287

1,299

1,316

1,327

AMBUJACEM

158

159

160

161

162

AXISBANK

1,116

1,140

1,155

1,180

1,194

BAJAJ-AUTO

1,663

1,698

1,726

1,761

1,789

BHARTIARTL

322

326

331

335

341

BHEL

257

264

271

278

285

BPCL

641

650

658

667

675

CAIRN

349

353

359

363

369

CIPLA

301

305

308

312

315

COALINDIA

320

323

327

330

334

DLF

188

194

198

203

207

DRREDDY

1,654

1,673

1,690

1,709

1,725

GAIL

342

345

349

352

356

HCLTECH

466

481

489

503

511

HDFC

643

648

654

659

665

HDFCBANK

490

503

510

523

531

HEROMOTOCO

1,859

1,874

1,887

1,902

1,915

HINDALCO

125

128

131

134

137

HINDUNILVR

375

380

383

388

391

ICICIBANK

833

846

857

871

882

IDFC

132

135

138

142

145

INFY

2,811

2,848

2,871

2,908

2,931

ITC

207

208

210

211

213

JINDALSTEL

517

527

535

545

553

JPASSOCIAT

KOTAKBANK

537

545

551

558

564

1,191

1,214

1,233

1,256

1,275

M&M

660

667

675

682

690

MARUTI

1,258

1,283

1,306

1,332

1,355

NTPC

167

168

171

173

176

ONGC

274

276

280

283

286

PNB

908

920

930

942

952

POWERGRID

105

107

109

110

112

RANBAXY

401

409

415

423

429

RCOM

RELIANCE

737

749

763

776

790

RELINFRA

591

610

623

642

656

RPOWER

119

126

130

137

141

SAIL

SBIN

2,079

2,110

2,137

2,168

2,195

SESAGOA

185

189

194

198

203

SIEMENS

767

778

788

799

809

STER

104

106

110

113

117

SUNPHARMA

551

555

559

563

567

SUZLON

TATAMOTORS

259

264

267

271

274

TATAPOWER

106

107

109

110

112

TATASTEEL

409

417

423

430

437

TCS

1,176

1,184

1,195

1,204

1,215

WIPRO

422

431

438

446

453

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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