Technical Research | December 14, 2011

Daily Technical Report

Sensex (16003) / NIFTY (4800)

Exhibit 1: Nifty Daily Chart

Markets opened with a downside gap and traded with

immense volatility throughout the day. A sharp recovery

from the day’s low during the last hour the trade led indices

to close well in the positive territory. On the sectoral front,

Metal, Auto and Oil & Gas counters were among the major

gainers whereas Consumer Durables and Capital Goods

sectors ended on losing side. The advance decline ratio was

in favor of declining counters. (A=1155 D=1529). (Source

-www.bseindia.com)

Formation

• On the Daily chart, indices have taken a support near

78.60% Fibonacci Retracement level of the rise from 15478

to 17704 / 4639 to 5100.

Source: Falcon

Actionable points:

Trading strategy:

After a gap down opening, Indices drifted lower and

View

Neutral

registered a low of 15771 / 4728 during the initial hour of

Resistance levels

4841 - 4918

Support level

4728

the trade. However, a sharp recovery in the last hour of

trade pushed indices higher to close at 16000 / 4800

mark. We are now observing that indices have taken a

support near 78.60% Fibonacci Retracement level of the rise

from 15478 to 17704 / 4639 to 5100 and bounced

sharply from that point. Therefore, going forward, if indices

manage to sustain above yesterday’s high of 16080 /

4825, then they are likely to move towards 16142 - 16383

/ 4841 - 4918 levels. On the downside, yesterday’s low of

15771 / 4728 would act as support in coming trading

session. A breach of this low may attract selling pressure

and indices then may slide towards the recent bottom of

15478 / 4639.

For Private Circulation Only |

Technical Research | December 14, 2011

Bank Nifty Outlook - (8572)

Exhibit 2: Bank Nifty Daily Chart

Bank nifty opened on a flat note and traded in a narrow

range during first half of the session. However, during the

second half we witnessed immense volatility which led the

index to close in positive territory. We are now witnessing a

positive crossover in the “RSI-Smoothened” oscillator on the

hourly chart which indicates probability of a bounce.

Therefore, if Bank Nifty sustains above yesterday’s high of

8642 then it is likely to test 8727 - 8830 levels. On the

downside, 8393 - 8295 levels are likely to act as support

levels for the day.

Actionable points:

View

Neutral

Resistance level

8642 - 8727 - 8830

Support levels

8393 - 8295

Source: Falcon

Exhibit 3: Mphasis Ltd. (Dec.fut.)

Stock Recommendations:

Stock - Mphasis Ltd. (Dec.Fut.)

Action - Buy

Last close

` 336.75

Buy Above

` 338

Stop Loss

` 328.65

Target

` 360

Justification - On the Daily chart, the stock has given a

trend line breakout at ` 330 with heavy volumes. Further,

on weekly chart we are witnessing positive crossover in “3 &

8 Week EMA”. This suggests that the upside momentum is

likely to continue. Buy the stock ONLY above ` 338 for a

target of ` 360 in coming 5-6 trading sessions.

Source: Falcon

For Private Circulation Only |

Technical Research | December 14, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,643

15,823

15,951

16,131

16,259

NIFTY

4,688

4,745

4,785

4,841

4,881

BANKNIFTY

8,287

8,429

8,536

8,678

8,785

ACC

1,082

1,109

1,128

1,155

1,174

AMBUJACEM

144

148

151

155

158

AXISBANK

924

942

958

976

992

BAJAJ-AUTO

1,591

1,625

1,647

1,681

1,702

BHARTIARTL

331

338

345

352

358

BHEL

247

254

258

265

270

BPCL

526

533

541

548

555

CAIRN

289

298

304

313

319

CIPLA

319

324

327

332

335

DLF

196

202

207

213

217

DRREDDY

1,542

1,571

1,594

1,623

1,646

GAIL

383

387

390

393

396

HCLTECH

401

408

418

426

435

HDFC

627

637

646

655

664

HDFCBANK

417

428

437

447

456

HEROMOTOCO

1,913

1,960

1,987

2,034

2,061

HINDALCO

118

124

127

133

137

HINDUNILVR

379

383

385

389

392

ICICIBANK

681

694

703

716

725

IDFC

100

103

105

108

110

INFY

2,686

2,719

2,742

2,775

2,798

ITC

194

196

197

199

200

JINDALSTEL

484

502

515

533

546

JPASSOCIAT

KOTAKBANK

469

478

484

493

499

1,138

1,154

1,170

1,187

1,203

M&M

663

682

694

713

725

MARUTI

939

948

959

967

978

NTPC

157

162

165

170

174

ONGC

250

253

255

258

261

PNB

855

872

883

901

912

POWERGRID

101

103

RANBAXY

393

400

405

411

416

RCOM

RELCAPITAL

271

277

281

287

292

RELIANCE

711

727

736

752

761

RELINFRA

365

371

378

384

391

RPOWER

SAIL

SBIN

1,720

1,754

1,781

1,815

1,842

SESAGOA

166

170

173

176

179

SIEMENS

647

665

677

695

708

STER

101

103

SUNPHARMA

495

504

509

518

523

SUZLON

TATAMOTORS

170

175

179

183

187

TATAPOWER

TATASTEEL

365

379

387

401

409

TCS

1,151

1,165

1,181

1,195

1,211

WIPRO

397

405

413

421

429

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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