Technical Research | April 13, 2012

Daily Technical Report

Sensex (17333) / NIFTY (5277)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a gap up opening on the back of

strong cues from U.S. and European bourses. Indices

maintained their early gains throughtout the day and closed

above the 5250 mark. On sectoral front, Metal, Banking

and FMCG counters surged during yesterday’s session;

whereas IT and Teck sectors remained under pressure. The

advance to decline ratio was strongly in favor of advancing

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 17360 / 5280, 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.

• We are now observing a positive crossover in daily

“RSI” momentum oscillator.

Source: Falcon

Trading strategy:

Actionable points:

View

Positive Above 5291

After a gap up opening, indices crossed Wednesday’s high

Expected Targets

5339 - 5379

of 17319 / 5264 during the initial hour of the session. As

Support Levels

5246 - 5190

expected, indices then moved towards their immediate

resistance level of 17407 / 5288. At present, Wednesday’s

low of 17075 / 5190, near 78.60% Fibonacci Retracement

level (17080 / 5187), is a key support for the markets in

coming trading sessions. Considering the global cues

today, it is likely that our markets too will open on an

optimistic note. We are also observing a positive crossover

in daily ‘RSI’ momentum oscillator which indicates possibility

of an upside momentum if indices manage to sustain above

yesterday’s high of 17395 / 5291 level. In this case, indices

are likely to rally towards 17554 - 17664 /5339 - 5379

levels. On the flip side, the immediate support levels are

seen at 17276 - 17075 / 5246 - 5190.

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Technical Research | April 13, 2012

Bank Nifty Outlook - (10401)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on an optimistic note and

gained strength as the day progressed to close near the

10400 level. On the daily chart, the momentum

oscillators, (RSI and Stochastic) have given a positive

crossover. However, on the hourly chart we are witnessing

narrow range body formations which suggest signs of

exhaustion if the bank nifty is unable to cross 10435

levels. Looking at the mixed picture from hourly and daily

chart we expect volatility to increase in coming trading

session. On the upside if the Bank nifty can sustain above

10435, it is likely to test 10520 - 10625 levels. On the

downside 10315 - 10250 levels may act as support.

Actionable points:

View

Positive above 10435

Target levels

10520-10625

Support Levels

10315 - 10250

Source: Falcon

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Technical Research | April 13, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,217

17,275

17,335

17,393

17,453

NIFTY

5,228

5,252

5,271

5,296

5,315

BANKNIFTY

10,179

10,290

10,361

10,472

10,544

ACC

1,232

1,256

1,270

1,294

1,308

AMBUJACEM

159

161

162

163

164

AXISBANK

1,148

1,172

1,188

1,212

1,227

BAJAJ-AUTO

1,620

1,629

1,640

1,649

1,660

BHARTIARTL

319

322

325

327

330

BHEL

252

255

256

259

260

BPCL

665

672

677

685

690

CAIRN

330

335

342

347

354

CIPLA

307

309

313

315

318

COALINDIA

330

331

334

335

338

DLF

193

196

201

204

208

DRREDDY

1,661

1,677

1,705

1,721

1,748

GAIL

352

356

358

361

363

HCLTECH

483

489

496

502

509

HDFC

670

675

678

683

687

HDFCBANK

520

525

530

535

540

HEROMOTOCO

1,955

1,991

2,013

2,050

2,072

HINDALCO

124

126

127

129

130

HINDUNILVR

412

417

419

424

427

ICICIBANK

863

871

878

886

893

IDFC

132

133

135

137

138

INFY

2,680

2,715

2,774

2,809

2,867

ITC

226

231

233

237

239

JINDALSTEL

468

490

502

524

537

JPASSOCIAT

KOTAKBANK

554

561

565

572

577

1,277

1,284

1,295

1,303

1,314

M&M

684

690

696

701

707

MARUTI

1,262

1,287

1,301

1,327

1,341

NTPC

163

164

166

167

168

ONGC

257

259

263

265

269

PNB

889

901

912

924

935

POWERGRID

110

111

112

113

115

RANBAXY

475

490

499

514

523

RCOM

RELIANCE

728

736

741

748

753

RELINFRA

538

546

555

563

572

RPOWER

114

115

117

118

120

SAIL

SBIN

2,153

2,190

2,212

2,249

2,271

SESAGOA

179

182

184

187

189

SIEMENS

762

775

785

798

808

STER

102

103

105

SUNPHARMA

557

565

572

580

587

SUZLON

TATAMOTORS

282

284

286

288

290

TATAPOWER

101

102

104

105

106

TATASTEEL

444

449

453

457

461

TCS

1,117

1,125

1,136

1,143

1,155

WIPRO

432

436

441

444

450

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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