Technical Research | April 12, 2012

Daily Technical Report

Sensex (17199) / NIFTY (5227)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened lower in-line with negative

globel cues and drifted marginally below 5200. However,

strong buying interest in the second half led indices to close

near 5225 mark. On sectoral front, Metal, Consumer

Durables and Oil & Gas counters were among the major

losers, whereas Health Care, IT, and Baking stocks ended

with a minor gain. The advance to decline ratio was in favor

of declining counters (A=1240 D=1524) (Source

www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

17100 / 5150 and 17333 / 5275, respectively.

• The ‘20-Week EMA’ is placed at 17200 / 5200 level.

• Indices have taken support near 78.60% Fibonacci

Retracement level (17080 / 5187) of the rise from 16920 to

17664 / 5135 to 5379 levels.

Source: Falcon

Trading strategy:

Actionable points:

View

Positive Above 5264

Indices opened lower around 5200 mark and traded in a

Expected Targets

5288 - 5339

narrow range during the first of the session. We witnessed a

Support Levels

5190 - 5171 - 5135

strong positive momentum during the second half, which

pushed indices marginally above its hourly ’20 EMA’. We

are now observing that indices have taken support near

78.60% Fibonacci Retracement level (17080 / 5187) of the

rise from 16920 to 17664 / 5135 to 5379 levels. Hence,

we may witness a positive momentum if indices sustain

above yesterday’s high of 17319 / 5264. In this scenario,

markets may rally towards 17407 - 17554 / 5288 - 5339

levels. Conversely, a fall below yesterday’s low of 17075 /

5190 would lead to further selling and then indices are

likely to slide towards the next support levels of 17008 -

16920 / 5171 - 5135 levels.

For Private Circulation Only |

Technical Research | April 12, 2012

Bank Nifty Outlook - (10214)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note, and traded

with extreme volatility throughout the session. The “Bullish

Harami” candlestick pattern has been confirmed as the

index has managed to close marginally above the 10210

level. We had mentioned in our previous report that we

are witnessing a positive crossover in “RSI - Smoothened”

oscillator on the hourly chart and possibility of a pullback

cannot be ruled out. We expect volatility to increase as

the momentum oscillators on the hourly and daily chart

paint a mixed picture. Thus on the upside if Bank Nifty

sustains above yesterday’s high of 10310 then it is likely

to test resistance zone of 10382 - 10410 levels. On the

downside 10114 - 9986 levels are likely to act as support

in coming trading session.

Actionable points:

View

Neutral

Resistance Levels

10310 - 10382 - 10410

Support Levels

10114 - 9986

Source: Falcon

For Private Circulation Only |

Technical Research | April 12, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,955

17,077

17,198

17,320

17,441

NIFTY

5,154

5,191

5,227

5,263

5,300

BANKNIFTY

9,946

10,080

10,195

10,329

10,444

ACC

1,182

1,209

1,248

1,275

1,314

AMBUJACEM

154

157

161

164

168

AXISBANK

1,118

1,138

1,154

1,173

1,189

BAJAJ-AUTO

1,604

1,619

1,637

1,652

1,670

BHARTIARTL

316

319

324

328

333

BHEL

247

249

252

253

256

BPCL

646

658

672

685

699

CAIRN

338

342

345

349

352

CIPLA

306

308

311

313

316

COALINDIA

324

328

332

336

340

DLF

197

199

202

205

208

DRREDDY

1,689

1,710

1,725

1,746

1,760

GAIL

344

349

355

360

366

HCLTECH

479

485

490

495

500

HDFC

659

666

673

681

687

HDFCBANK

511

519

525

533

539

HEROMOTOCO

1,939

1,956

1,970

1,986

2,000

HINDALCO

121

122

124

126

128

HINDUNILVR

405

411

416

422

427

ICICIBANK

840

852

864

876

888

IDFC

130

132

133

134

135

INFY

2,709

2,757

2,791

2,839

2,873

ITC

225

227

229

231

232

JINDALSTEL

477

482

488

494

500

JPASSOCIAT

KOTAKBANK

527

543

553

569

580

1,253

1,268

1,282

1,297

1,311

M&M

680

687

694

701

708

MARUTI

1,250

1,261

1,273

1,284

1,296

NTPC

159

162

164

167

169

ONGC

258

261

264

267

270

PNB

878

889

901

911

923

POWERGRID

108

110

111

113

114

RANBAXY

474

481

489

497

505

RCOM

RELIANCE

719

725

732

737

745

RELINFRA

530

541

554

564

577

RPOWER

114

116

117

118

120

SAIL

SBIN

2,089

2,124

2,152

2,186

2,214

SESAGOA

175

177

179

182

184

SIEMENS

757

764

772

779

787

STER

101

102

103

105

SUNPHARMA

549

563

571

585

594

SUZLON

TATAMOTORS

278

280

283

286

289

TATAPOWER

103

106

109

TATASTEEL

437

442

448

453

459

TCS

1,123

1,131

1,143

1,150

1,163

WIPRO

437

441

445

449

453

Technical Research Team

For Private Circulation Only |

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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