Technical Research | December 22, 2011

Daily Technical Report

Sensex (15685) / NIFTY (4693)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a strong gap up opening mainly

due to positive cues from global indices. The positive

momentum stayed throughout the day and Indices closed

almost at the highest point of the day. On the sectoral front,

Banking, Consumer Durables and Oil & Gas sectors

contributed heavily in yesterday’s rally. There was no sector

on the losing side. The advance to decline ratio was

strongly in favor of declining counters. (A=1658 D=1097).

(Source -www.bseindia.com)

Formation

• On the Daily chart, we are witnessing a positive

crossover in “RSI” momentum oscillator.

• The 20 EMA on the daily chart is placed at 16020 /

4800.

Source: Falcon

Actionable points:

Trading strategy:

Indices opened on an optimistic note and crossed key

View

Positive

resistance level of 15450 / 4638 during the latter part of

Buy above

4707

the session to rally towards 15750 / 4730. We are now

Expected target

4754 - 4800

observing a positive crossover in daily “RSI” momentum

Support levels

4638 - 4531

oscillator. The positive impact of this crossover may be seen

if indices manage to sustain above yesterday’s high of

15727 / 4707. In this scenario, markets are likely to rally

towards 15850 / 4754 level and may even test the 20 EMA

at 16020 / 4800. On the downside, 15450 - 15135 /

4638 - 4531 levels are likely to act as support in coming

trading sessions.

For Private Circulation Only |

Technical Research | December 22, 2011

Bank Nifty Outlook - (8189)

Exhibit 2: Bank Nifty Daily Chart

Bank nifty opened with an upside gap and traded in a

narrow range during first hour of the session. However,

during the last hour of trade, strong positive momentum was

witnessed and the Index closed well above the mentioned

resistance level of 8085. We had mentioned in our previous

report that “RSI - Smoothened” oscillator on the hourly chart

is in an oversold condition and a bounce back is likely. We

are now witnessing a positive crossover in “Stochastic and

RSI” momentum oscillator on the daily chart. Thus, if Bank

Nifty manages to sustain above yesterday’s high of 8236

then it is likely to test 8281 - 8342 levels. On the downside

the 8000 mark is expected to act as support in coming

trading session.

Actionable points:

View

Neutral

Resistance levels

8136 - 8281 - 8342

Support level

8000

Source: Falcon

For Private Circulation Only |

Technical Research | December 22, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,246

15,466

15,597

15,816

15,947

NIFTY

4,562

4,628

4,667

4,733

4,773

BANKNIFTY

7,821

8,005

8,120

8,305

8,420

ACC

1,095

1,118

1,133

1,156

1,171

AMBUJACEM

149

152

155

158

161

AXISBANK

822

838

849

865

875

BAJAJ-AUTO

1,542

1,578

1,604

1,640

1,666

BHARTIARTL

321

331

338

349

356

BHEL

225

229

234

239

244

BPCL

487

501

513

527

539

CAIRN

312

316

319

323

326

CIPLA

321

327

332

338

342

DLF

180

184

189

193

197

DRREDDY

1,534

1,549

1,568

1,583

1,602

GAIL

371

380

386

395

401

HCLTECH

378

383

391

397

405

HDFC

623

639

649

666

676

HDFCBANK

409

422

431

444

452

HEROMOTOCO

1,726

1,786

1,825

1,884

1,923

HINDALCO

118

121

123

125

127

HINDUNILVR

394

398

401

405

408

ICICIBANK

657

680

694

717

732

IDFC

100

103

108

INFY

2,651

2,697

2,726

2,772

2,801

ITC

198

200

202

204

205

JINDALSTEL

473

479

486

492

499

JPASSOCIAT

KOTAKBANK

415

440

459

484

502

951

976

993

1,017

1,035

M&M

641

666

681

706

722

MARUTI

909

936

952

979

995

NTPC

152

157

159

164

166

ONGC

250

256

259

265

268

PNB

768

779

789

801

811

POWERGRID

100

RANBAXY

371

389

399

417

428

RCOM

RELCAPITAL

228

234

239

245

249

RELIANCE

710

729

741

760

773

RELINFRA

332

343

350

361

369

RPOWER

SAIL

SBIN

1,578

1,601

1,618

1,641

1,658

SESAGOA

147

155

159

167

171

SIEMENS

625

640

649

664

673

STER

SUNPHARMA

485

492

500

507

514

SUZLON

TATAMOTORS

171

174

178

181

185

TATAPOWER

TATASTEEL

336

343

348

355

360

TCS

1,106

1,132

1,149

1,176

1,193

WIPRO

386

396

404

415

423

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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