Technical Research | April 18, 2012

Daily Technical Report

Sensex (17358) / NIFTY (5290)

Exhibit 1: Nifty Daily Chart

Yesterday, our Benchmark indices opened on a flat note

and traded in a narrow range in the initial hour of the

session. Later on, as expected and mentioned, indices

traded with extreme volatility post the announcement of the

RBI Monetary Policy as RBI surprised markets with 50bps

rate cut. On the sectoral front, Realty and Metal counters

were among the major gainers, whereas there was no

sector on the losing side. The advance to decline ratio was

strongly in favor of advancing counters (A=1657 D=1155)

(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 17324 / 5271, respectively.

Source: Falcon

• The ‘20-Week EMA’ is placed at 17200 / 5200 level.

• We are witnessing a ‘Downward Sloping Trend Line’

resistance around 17400 / 5300 level.

Actionable points:

View

Positive Above 5307

Expected Targets

5330 - 5379

Trading strategy:

Support Levels

5240 - 5170

Yesterday, we witnessed a volatile trading session on

account of “RBI Monetary Policy”. After the announcement

of the policy, our indices rallied almost 1.5% from day’s low

and closed in green. Today, our markets are likely to open

in the green on the back of strong positive global cues. We

reiterate our positive bias on the markets and are of the

view that once the indices cross the temporary resistance at

17408 / 5307 they are likely to rally further towards 17664

- 18041 / 5379 - 5500 levels. On the downside, 17210 -

17010 / 5240 - 5170 will now act as a decent support for

the markets.

For Private Circulation Only |

Technical Research | April 18, 2012

Bank Nifty Outlook - (10520)

Exhibit 2: Bank Nifty Daily Chart

In Yesterday’s session, as expected Bank Nifty remained

highly volatile and tested the mentioned resistance and

support levels. We are witnessing a “Doji” candlestick

pattern which is a sign of indecisiveness prevailing at

current levels. Hence, we reiterate our view that presently

the index is in trading range of 10600 - 10150. Only a

sustainable move outside the mentioned range will dictate

a clear direction of the trend. A move above the 10625

level will trigger fresh upside momentum and the Bank

Nifty is then likely to test 10750 - 10832. On the

downside 10348 - 10250 are likely to act as support in

coming trading session.

Actionable points:

View

Positive above 10625

Source: Falcon

Expected target

10750 - 10832

Support Levels

10348 - 10250

For Private Circulation Only |

Technical Research | April 18, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,003

17,180

17,281

17,459

17,560

NIFTY

5,176

5,233

5,265

5,322

5,355

BANKNIFTY

10,090

10,305

10,463

10,678

10,837

ACC

1,207

1,231

1,246

1,270

1,285

AMBUJACEM

153

158

160

164

167

AXISBANK

1,136

1,174

1,199

1,237

1,263

BAJAJ-AUTO

1,618

1,645

1,662

1,690

1,707

BHARTIARTL

312

317

320

326

329

BHEL

255

259

262

266

270

BPCL

668

678

683

693

699

CAIRN

328

334

340

346

352

CIPLA

311

313

315

316

318

COALINDIA

339

345

349

354

358

DLF

194

200

203

208

211

DRREDDY

1,708

1,734

1,766

1,793

1,825

GAIL

343

354

362

373

381

HCLTECH

468

474

486

493

504

HDFC

665

674

681

691

698

HDFCBANK

514

522

529

537

544

HEROMOTOCO

2,026

2,075

2,105

2,155

2,185

HINDALCO

122

125

127

130

131

HINDUNILVR

416

419

422

425

428

ICICIBANK

837

861

877

901

917

IDFC

127

131

133

136

138

INFY

2,309

2,345

2,372

2,408

2,435

ITC

236

241

244

249

252

JINDALSTEL

488

498

505

515

522

JPASSOCIAT

KOTAKBANK

563

572

582

592

601

1,274

1,303

1,320

1,350

1,367

M&M

672

678

685

691

698

MARUTI

1,286

1,314

1,354

1,383

1,423

NTPC

163

165

167

169

171

ONGC

252

261

266

274

279

PNB

891

910

925

944

960

POWERGRID

110

112

113

115

116

RANBAXY

496

502

508

514

520

RCOM

RELIANCE

733

740

747

754

762

RELINFRA

534

560

574

599

613

RPOWER

112

116

118

121

123

SAIL

SBIN

2,163

2,234

2,292

2,362

2,420

SESAGOA

183

186

189

192

195

SIEMENS

782

798

808

824

834

STER

105

107

108

109

110

SUNPHARMA

565

575

583

593

601

SUZLON

TATAMOTORS

293

297

301

305

309

TATAPOWER

102

103

104

105

106

TATASTEEL

446

454

459

467

473

TCS

1,065

1,078

1,087

1,099

1,108

WIPRO

417

419

422

424

427

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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