Technical Research | April 19, 2012

Daily Technical Report

Sensex (17392) / NIFTY (5300)

Exhibit 1: Nifty Daily Chart

Yesterday, our benchmark indices opened on a higher note

in-line with positive cues from US and European bourses.

Subsequently, minor profit booking in selective large cap

counters dragged indices to close at the 5300 mark. On the

sectoral front, Auto and Health Care counters were among

the major gainers, whereas Realty counters ended on the

losing side. The advance to decline ratio was strongly in

favor of advancing counters (A=1625 D=1251) (Source -

www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

Source: Falcon

17100 / 5150 and 17324 / 5271, respectively.

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

Actionable points:

• We are witnessing a ‘Downward Sloping Trend Line’

breakout around 17400 / 5300 level.

View

Positive Above 5307

Expected Targets

5330 - 5379

Support Levels

5240 - 5170

Trading strategy:

Yesterday, we witnessed a gap up opening well above the

mentioned ‘Downward Sloping Trend Line’ resistance of

17400 / 5300 level, indices slipped nominally towards the

end of the session. This move above 5300 can be construed

as a breakout above the resistance zone and signals high

probability of an upside move. Going forward, once indices

manage to sustain above 17400 / 5307, they are likely to

rally towards the next resistance zone of -17664 - 17687/

5380 - 5386. O the downside, 17371 - 17293 / 5293 -

5266 will now act as a decent support for the markets.

For Private Circulation Only |

Technical Research | April 19, 2012

Bank Nifty Outlook - (10512)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and traded in

a narrow range throughout the session. We are

witnessing a “Spinning Top” candlestick pattern which is a

sign of indecisiveness prevailing at current levels. We are

even witnessing a negative crossover in “RSI

Smoothened” oscillator on the hourly chart. Hence, we

reiterate our view that the index is in a trading range of

10650 - 10150. Only a sustainable move outside the

mentioned range will dictate a clear direction of the

trend. Thus on the upside 10625 - 10650 levels are likely

to act as resistance zone and on the downside 10350 -

10250 levels are likely to act as support in coming

trading session.

Actionable points:

Source: Falcon

View

Neutral

Resistance Levels

10625 - 10650

Support Levels

10350 - 10250

For Private Circulation Only |

Technical Research | April 19, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,278

17,335

17,429

17,486

17,580

NIFTY

5,263

5,282

5,312

5,330

5,360

BANKNIFTY

10,380

10,446

10,546

10,612

10,712

ACC

1,242

1,270

1,289

1,317

1,336

AMBUJACEM

160

163

166

169

171

AXISBANK

1,167

1,181

1,204

1,219

1,241

BAJAJ-AUTO

1,653

1,684

1,710

1,741

1,767

BHARTIARTL

317

319

323

325

329

BHEL

255

258

263

265

270

BPCL

686

692

697

703

707

CAIRN

336

343

347

354

359

CIPLA

309

311

316

318

322

COALINDIA

342

345

349

353

357

DLF

194

198

203

206

211

DRREDDY

1,737

1,752

1,767

1,782

1,796

GAIL

357

362

369

374

381

HCLTECH

480

487

499

506

518

HDFC

672

676

683

687

695

HDFCBANK

530

534

537

541

544

HEROMOTOCO

2,110

2,126

2,144

2,160

2,178

HINDALCO

127

129

131

132

134

HINDUNILVR

419

421

422

425

426

ICICIBANK

864

872

886

895

908

IDFC

127

129

133

135

139

INFY

2,329

2,350

2,376

2,398

2,424

ITC

236

239

244

246

251

JINDALSTEL

504

509

514

520

525

JPASSOCIAT

KOTAKBANK

569

574

582

587

594

1,299

1,312

1,331

1,344

1,364

M&M

683

687

691

696

699

MARUTI

1,333

1,343

1,355

1,364

1,376

NTPC

166

167

168

169

171

ONGC

267

269

271

273

276

PNB

907

916

927

935

946

POWERGRID

112

113

114

115

116

RANBAXY

502

505

509

513

517

RCOM

RELIANCE

735

742

749

756

763

RELINFRA

567

573

584

590

601

RPOWER

115

116

118

120

122

SAIL

SBIN

2,238

2,265

2,302

2,329

2,367

SESAGOA

188

190

192

193

195

SIEMENS

808

819

830

841

851

STER

108

110

111

112

SUNPHARMA

582

589

595

603

609

SUZLON

TATAMOTORS

300

305

308

313

316

TATAPOWER

103

105

106

108

109

TATASTEEL

458

462

467

470

475

TCS

1,081

1,089

1,102

1,110

1,123

WIPRO

422

425

427

430

432

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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