Technical Research | February 10, 2012

Daily Technical Report

Sensex (17831) / NIFTY (5412)

Exhibit 1: Nifty Daily Chart

Yesterday, our bechmark indices opened flat and traded in

a narrow range throughout the day but strong buying in the

final hour of trade led Nifty to close above 5400 mark after

Aug 2011. Once again, the rally was led by Metal, Realty

and Banking counters. Sectors like, Oil & Gas and

Consumer Durables ended with a nominal loss. The

advance to decline ratio was in favor of advancing

counters. (A=1828 D=1057) (Source -www.bseindia.com)

Formation:

• Indices are hovering around “Horizontal Line”

resistance of 17908 / 5400.

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

placed in extreme overbought territory.

• Tuesday’s price action indicates a “Bearish Engulfing”

pattern.

• The momentum oscillator on the daily chart viz., the

Source: Falcon

“Stochastic” is negatively poised.

Actionable points:

Trading strategy:

View

Neutral

Yesterday, indices again made an attempt to cross 5400

Resistance levels

5435 - 5500

mark and finally succeeded to close above that after Aug

Support levels

5322 - 5290 - 5225

2011. Indices have almost negated the “Bearish Engulfing”

pattern and have just closed marginally below the high of

this pattern. The liquidity is the system remains abundant

and the FII’s are on a buying spree. Going forward, if

indices trades convincingly above 17880 / 5424 level then

they are likely to rally towards 18000 - 18280 / 5435 -

5500 levels. On the downside, violation of 17582 / 5322

level may attract strong selling pressure and indices may

slide towards 17504 - 17308 / 5290 - 5225 levels.

For Private Circulation Only |

Technical Research | February 10, 2012

Bank Nifty Outlook - (10508)

Exhibit 2: Bank Nifty Daily Chart

After a consolidation of three days, Bank Nifty finally

managed to give a breakout on the higher side of the

said range of 10180 - 10430. The “ADX (14)” indicator

is at 36.33 level which shows that the ongoing uptrend is

gaining further strength. Thus, going forward, on the

upside, if the index manages to sustain above yesterday’s

high of 10546 then it is likely to test 10670 - 10705. On

the downside 10267 - 10180 levels are likely to act as

support in coming trading session. The placement of the

“RSI Smoothened” oscillator indicates that traders should

not take aggressive long positions at current levels and

should trade with strict stop losses.

Actionable points:

View

Neutral

Resistance levels

10670 - 10705

Support levels

10267 - 10180

Source: Falcon

For Private Circulation Only |

Technical Research | February 10, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,503

17,667

17,773

17,937

18,043

NIFTY

5,307

5,360

5,392

5,444

5,476

BANKNIFTY

10,161

10,334

10,440

10,614

10,720

ACC

1,358

1,373

1,386

1,402

1,415

AMBUJACEM

173

176

179

181

184

AXISBANK

1,092

1,113

1,128

1,149

1,163

BAJAJ-AUTO

1,612

1,657

1,683

1,728

1,754

BHARTIARTL

340

345

349

355

359

BHEL

257

260

263

265

268

BPCL

562

580

593

611

623

CAIRN

372

377

381

386

390

CIPLA

347

350

353

355

358

COALINDIA

329

331

334

336

339

DLF

223

228

234

239

244

DRREDDY

1,596

1,618

1,631

1,652

1,666

GAIL

380

385

390

394

399

HCLTECH

455

459

465

469

475

HDFC

684

691

695

702

706

HDFCBANK

498

510

518

530

538

HEROMOTOCO

1,936

1,965

2,000

2,029

2,064

HINDALCO

143

151

157

164

170

HINDUNILVR

382

388

391

397

401

ICICIBANK

901

920

933

952

964

IDFC

133

135

137

140

141

INFY

2,698

2,754

2,788

2,844

2,878

ITC

201

202

204

205

207

JINDALSTEL

566

585

595

614

625

JPASSOCIAT

KOTAKBANK

518

535

545

561

572

1,324

1,340

1,356

1,371

1,387

M&M

672

687

697

712

722

MARUTI

1,244

1,257

1,268

1,281

1,292

NTPC

175

177

179

182

184

ONGC

272

277

280

285

288

PNB

968

984

994

1,010

1,020

POWERGRID

106

108

109

110

112

RANBAXY

446

449

453

455

459

RCOM

RELIANCE

835

844

852

862

869

RELINFRA

576

584

592

600

607

RPOWER

103

105

109

112

SAIL

102

105

107

111

113

SBIN

2,143

2,164

2,178

2,198

2,212

SESAGOA

220

225

228

233

236

SIEMENS

772

787

795

810

818

STER

118

124

128

134

137

SUNPHARMA

530

536

546

553

563

SUZLON

TATAMOTORS

245

251

255

261

265

TATAPOWER

104

108

110

114

117

TATASTEEL

434

443

449

458

463

TCS

1,172

1,200

1,216

1,244

1,260

WIPRO

421

433

441

453

461

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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