Technical Research | February 17, 2012

Daily Technical Report

Sensex (18154) / NIFTY (5522)

Exhibit 1: Nifty Daily Chart

After witnessing a strong upside rally on Wednesday,

Indices opened with a downside gap during yesterday’s

session. Subsequently, markets traded in a narrow range

throughout the day to close almost at the initial opening

level. On the sectoral front, Realty, Power and Capital

Goods counters were among the major gainers, whereas

Metal and Oil & Gas sectors ended on a losing side. The

advance to decline ratio was in favor of advancing

counters. (A=1640 D=1292) (Source -www.bseindia.com)

Formation:

• Indices have given a break out from the narrow range

of 17579 - 17890 / 5322 - 5428. The target of this

breakout is at 18440 - 18580 / 5550 - 5590.

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

placed in extreme overbought territory.

• Yesterday’s price action can be called as “Inside Day”

Japanese candlestick formation.

Source: Falcon

Trading strategy:

Actionable points:

View

Positive Above 5542

Yesterday, after a downside opening indices traded in a

Expected Targets

5550 - 5590

narrow range throughout the day. Hence, yesterday’s price

Support levels

5460 - 5420

action called as an “Inside Day” formation. This candlestick

formation occurs when the entire daily price range for a

given security falls within the price range of the previous

day. An inside day is often used to signal indecision

because neither the bulls nor the bears are able to send the

price beyond the range of the previous day. Hence,

Wednesday’s high of 18231 / 5542 remains an immediate

resistance. A move beyond this level, on the back of

optimism in global markets, may push indices higher to test

18440 - 18580 / 5550 - 5590 levels. Conversely, if indices

trade below yesterday’s low of 18043 / 5483 level then

they are likely to slide towards the next support levels of

18000 - 17850 / 5460 - 5420.

For Private Circulation Only |

Technical Research | February 17, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,987

18,071

18,127

18,210

18,266

NIFTY

5,465

5,493

5,512

5,541

5,560

BANKNIFTY

10,720

10,821

10,881

10,982

11,042

ACC

1,315

1,330

1,349

1,365

1,384

AMBUJACEM

169

170

171

172

174

AXISBANK

1,178

1,201

1,218

1,241

1,258

BAJAJ-AUTO

1,675

1,743

1,788

1,856

1,901

BHARTIARTL

340

345

351

356

362

BHEL

272

278

285

292

299

BPCL

580

602

613

635

646

CAIRN

366

379

389

401

411

CIPLA

311

318

323

331

336

DLF

306

313

326

334

347

DRREDDY

240

245

250

255

260

GAIL

1,593

1,607

1,630

1,644

1,666

HCLTECH

373

379

390

396

407

HDFC

466

471

474

479

482

HDFCBANK

701

709

715

723

729

HEROMOTOCO

515

521

529

535

544

HINDALCO

1,931

2,060

2,132

2,261

2,333

HINDUNILVR

148

151

156

159

164

ICICIBANK

379

382

385

388

391

IDFC

950

959

971

980

991

INFY

139

143

145

148

151

ITC

2,839

2,874

2,896

2,931

2,953

JINDALSTEL

201

203

204

205

206

JPASSOCIAT

596

619

635

658

674

KOTAKBANK

558

566

573

581

587

M&M

1,415

1,432

1,450

1,467

1,486

MARUTI

700

712

725

736

749

NTPC

1,242

1,301

1,338

1,397

1,434

ONGC

181

183

184

186

187

PNB

274

278

281

284

287

POWERGRID

1,026

1,041

1,052

1,068

1,079

RANBAXY

108

109

111

112

114

RCOM

438

444

449

455

459

RELCAPITAL

101

104

106

109

RELIANCE

790

801

816

827

842

RELINFRA

605

618

634

647

662

RPOWER

118

121

124

126

129

SAIL

109

110

111

113

114

SBIN

2,171

2,261

2,319

2,409

2,467

SESAGOA

238

245

251

258

264

SIEMENS

770

785

794

809

818

STER

124

127

130

132

136

SUNPHARMA

529

535

541

548

554

SUZLON

TATAMOTORS

268

272

278

282

288

TATAPOWER

107

111

114

117

120

TATASTEEL

464

471

482

490

501

TCS

1,204

1,215

1,228

1,239

1,252

WIPRO

430

435

438

442

445

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 sameet.chavan[email protected]

Research Team: 022-3952 6600

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