Technical Research | October 13, 2011

Daily Technical Report

Sensex (16959) / NIFTY (5099)

Yesterday markets opened flat in-line with global cues and

Exhibit 1: Nifty Daily Chart

traded with choppiness during the first half. However,

buying emerged during the latter part of the session which

led indices to close in positive territory. On the sector front,

IT, Teck and Banking counters were among the major

contributors in yesterday’s gain. The advance decline ratio

was strongly in favor of advancing counters (A=1846

D=974). (Source -www.bseindia.com)

Formation

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

Sloping trend line” joining two highs of 18945 and 17191 /

5702 and 5168.

• We are also observing a positive crossover in “5 & 20

Day EMA” on the Daily chart.

Source: Falcon

Actionable points:

Trading strategy:

After a quite opening, indices moved in a narrow range and

View

Mildly Bullish

strong positive momentum was observed after crossing

Positive Above

5110

Expected Target

5169 - 5230

Tuesday’s high of 16774 / 5045. Thus indices headed

Support Levels

5045 - 4964

higher to fill the downside gap near to 17000 / 5110

created on 22^nd September 2011. Also, yesterday’s price

action resulted in a closing well above “Downward Sloping

trend line” joining two highs of 18945 and 17191 / 5702

and

5168. Going forward, considering the positive

crossover in “5 & 20 Day EMA”, upside momentum is likely

to continue if indices manage to sustain above yesterday’s

high of 16987 / 5110. In this case, indices are likely to rally

towards next resistance levels of 17210 - 17358 / 5169 -

5230. On the downside, 16774 - 16510 / 5045 - 4964

levels may act as support levels for the day.

For Private Circulation Only |

Technical Research | October 13, 2011

Bank Nifty Outlook - (9482)

Yesterday, In line with the broader markets positive

Exhibit 2: Bank Nifty Daily Chart

momentum was witnessed in the bank nifty and the Index

crossed the mentioned resistance level of 9363 to close

near day’s high. We are now observing that bank nifty has

managed to give a close above “20 EMA”, coupled with

positive crossover in “RSI smoothened” momentum

oscillator on daily chart. In view of the, above mentioned

indicators, if bank nifty sustain above yesterday’s high of

9514 level then is likely to test 9700-9970 levels. On the

downside, 9363 - 9148 levels may act as support for the

day.

Actionable points:

View

Bullish

Positive Above

9514

Expected Target

9700 - 9970

Support Levels

9363 - 9148

Source: Falcon

Stock Recommendations:

Exhibit 3: IRB Infra Daily chart

Stock - IRB Infra

Action - BUY

Last close - ` 169.20

Range

- ` 170 - 168

Stop Loss - ` 164.50

Target

- ` 182

Justification - On the Daily chart we are observing a

triangular pattern breakout along with positive crossovers

in RSI smoothened momentum ossiclator.Also a positive

crossover in 5 & 20 day EMA indicates possibility of further

upside.We advise buying the counter in the range of ` 170

–

168 with stoploss of

164.50 for a target of

`182.Timeframe 3-5 days.

Source: Falcon

For Private Circulation Only |

Technical Research | October 13, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,473

16,716

16,851

17,094

17,230

NIFTY

4,957

5,028

5,069

5,140

5,181

BANKNIFTY

9,076

9,279

9,397

9,600

9,717

ACC

1,127

1,134

1,139

1,146

1,151

AMBUJACEM

141

145

148

152

154

AXISBANK

1,015

1,054

1,077

1,116

1,139

BAJAJ-AUTO

1,527

1,557

1,587

1,616

1,647

BHARTIARTL

366

370

374

377

382

BHEL

321

330

335

344

349

BPCL

660

666

673

679

685

CAIRN

276

280

282

286

288

CIPLA

279

283

285

288

290

DLF

221

229

233

241

246

DRREDDY

1,500

1,515

1,525

1,540

1,550

GAIL

412

416

419

423

426

HCLTECH

404

412

418

425

431

HDFC

652

661

667

676

681

HDFCBANK

447

457

464

474

480

HEROMOTOCO

1,930

1,965

2,000

2,036

2,071

HINDALCO

125

129

132

135

138

HINDUNILVR

324

327

329

332

334

ICICIBANK

823

841

852

871

882

IDFC

120

121

123

125

126

INFY

2,561

2,620

2,654

2,713

2,747

ITC

198

201

203

206

208

JINDALSTEL

471

494

512

534

552

JPASSOCIAT

KOTAKBANK

446

459

467

479

487

1,388

1,416

1,431

1,459

1,475

M&M

773

790

801

818

829

MARUTI

1,056

1,071

1,081

1,095

1,105

NTPC

173

175

177

179

181

ONGC

265

268

270

273

275

PNB

931

959

978

1,005

1,024

POWERGRID

100

101

RANBAXY

505

511

516

521

526

RCOM

RELCAPITAL

331

342

348

358

365

RELIANCE

817

833

843

859

868

RELINFRA

398

407

413

422

427

RPOWER

SAIL

103

107

109

112

114

SBIN

1,714

1,793

1,836

1,916

1,959

SESAGOA

222

225

228

231

234

SIEMENS

801

824

862

885

923

STER

114

117

119

122

124

SUNPHARMA

476

480

483

487

490

SUZLON

TATAMOTORS

161

171

180

190

200

TATAPOWER

101

104

106

TATASTEEL

430

437

441

448

452

TCS

1,049

1,064

1,077

1,092

1,104

WIPRO

340

346

352

357

364

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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