Technical Research | February 15, 2012

Daily Technical Report

Sensex (17849) / NIFTY (5416)

Exhibit 1: Nifty Daily Chart

Yesterday, for yet another session markets traded with

extreme volatility throughout the day and closed above

5400 mark. Indices have been trading in this narrow range

of 17579 - 17890 / 5322 - 5428 for the past seven

trading sessions. On the sectoral front, Capital Goods,

Realty and Auto counters were among the major gainers,

whereas Oil & Gas and Healthcare counters ended in a

negative territory. The advance to decline ratio was in favor

of advancing counters. (A=1619 D=1269) (Source

www.bseindia.com)

Formation:

• On the Weekly chart, indices are hovering around the

“Horizontal Resistance Line” placed at 17908 / 5400

level.

• The Weekly chart depicts a “Doji” formation.

• The 200-day SMA and 20-day EMA are placed at

17235 / 5178 and 17160 / 5185, respectively.

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

placed in extreme overbought territory.

Source: Falcon

Trading strategy:

Actionable points:

View

Positive Above 5428

Yesterday, yet again indices traded with extreme volatility

Expected targets

5500 - 5550

but remained inside the mentioned range of 17579 -

Support level

5322

17890 / 5322 - 5428. Therefore, our view remains the

same that a break out on either side would give clarity of

the trend. Hence, a close above 17890 / 5428 may attract

strong buying interest which would then push indices to test

18300 - 18440 / 5500 - 5550 levels. On the downside, a

negative outlook will be confirmed only if indices sustain

below the low of 17579 / 5322. In this case, we may

witness a corrective move up to 17200 - 17000 / 5250 -

5185 levels, which also coincides with the support zone of

200-Day SMA and 20-day EMA.

For Private Circulation Only |

Technical Research | February 15, 2012

Bank Nifty Outlook - (10557)

Exhibit 2: Bank Nifty Daily Chart

In Yesterday’s session, Bank Nifty opened on a flat note

and traded in a narrow range throughout the session.

The “Bearish Harami” candle stick pattern mentioned in

our previous reports has been negated as the index has

managed to close marginally above 10555 levels. The

“ADX (14)” indicator is at 40, which shows strength of the

ongoing uptrend. Thus on the upside, if Bank Nifty trades

convincingly above 10607 then it is likely to test 10661 -

10750 levels. However, on the hourly chart we are

witnessing negative divergence in “RSI” momentum

oscillator. Therefore, if the index falls below yesterday’s

low of 10449 then we may see a minor correction till

10335 - 10183 levels.

Actionable points:

View

Neutral

Resistance Levels

10607 - 10661 - 10750

Support Levels

10449 - 10335 - 10183

Source: Falcon

For Private Circulation Only |

Technical Research | February 15, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,679

17,764

17,827

17,912

17,975

NIFTY

5,357

5,387

5,407

5,437

5,457

BANKNIFTY

10,380

10,468

10,538

10,626

10,695

ACC

1,315

1,327

1,348

1,361

1,382

AMBUJACEM

168

169

171

173

174

AXISBANK

1,103

1,116

1,125

1,138

1,146

BAJAJ-AUTO

1,697

1,715

1,734

1,752

1,771

BHARTIARTL

336

339

344

347

352

BHEL

255

260

264

269

273

BPCL

583

591

597

605

611

CAIRN

366

373

377

383

388

CIPLA

310

315

326

332

342

DLF

328

331

336

339

343

DRREDDY

227

231

233

237

239

GAIL

1,599

1,605

1,616

1,621

1,632

HCLTECH

379

383

387

391

395

HDFC

459

464

467

472

475

HDFCBANK

689

693

696

701

703

HEROMOTOCO

510

514

519

523

528

HINDALCO

1,983

2,033

2,061

2,111

2,139

HINDUNILVR

152

156

160

165

168

ICICIBANK

387

389

391

394

396

IDFC

917

930

940

954

963

INFY

129

134

137

141

144

ITC

2,746

2,773

2,792

2,819

2,838

JINDALSTEL

201

202

203

204

JPASSOCIAT

583

591

599

607

616

KOTAKBANK

550

555

562

567

574

M&M

1,285

1,332

1,366

1,413

1,446

MARUTI

698

708

714

724

730

NTPC

1,200

1,234

1,254

1,288

1,308

ONGC

178

180

182

183

185

PNB

272

274

277

279

282

POWERGRID

978

997

1,009

1,028

1,040

RANBAXY

108

109

110

111

RCOM

428

431

436

439

444

RELCAPITAL

102

104

RELIANCE

836

842

849

856

863

RELINFRA

587

602

612

626

636

RPOWER

105

107

108

110

112

SAIL

108

109

110

112

113

SBIN

2,093

2,146

2,182

2,236

2,272

SESAGOA

238

241

247

250

255

SIEMENS

777

784

794

800

810

STER

126

127

130

131

133

SUNPHARMA

547

551

554

558

562

SUZLON

TATAMOTORS

253

260

267

274

280

TATAPOWER

102

105

108

112

TATASTEEL

477

482

487

493

497

TCS

1,207

1,213

1,222

1,228

1,236

WIPRO

428

431

436

439

443

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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