Technical Research | February 22, 2012

Daily Technical Report

Sensex (18428) / NIFTY (5607)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened on a flat note in-line with other

Asian indices but continued to move in the direction of

current trend to register a close well above the 5600 mark.

On the sectoral front, Realty, Consumer Durables and Oil &

Gas counters were among the major gainers, whereas IT

sector ended with a nominal loss. The advance to decline

ratio was marginally in favor of advancing counters.

(A=1677 D=1299) (Source -www.bseindia.com)

Formation:

• On the Weekly chart, indices have closed well above

the “Horizontal Resistance Line” placed at 17908 /

5400 level.

• The 200-day SMA and 20-day EMA have now shifted to

17210 / 5172 and 17522 / 5306, respectively.

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

Source: Falcon

still placed in extreme overbought territory.

Actionable points:

Trading strategy:

View

Positive

After a quiet opening, indices showed some positive

Buy above

5622

momentum and moved higher towards the immediate

Expected targets

5645 - 5702

Support levels

5561 - 5545 - 5483

resistance level of 18423 / 5607. Eventually the markets

registered a high of 18471 / 5622 for the day. Going

forward, if indices manage to sustain above yesterday’s

high of 18471 / 5622, then they are likely to test 18756 -

18945 / 5645 - 5702 levels. On the downside, 18293 -

18234 / 5561 - 5545 levels may provide decent support

for the markets. Only a breach of 18234 / 5545 level may

attract some selling pressure, which may drag indices to test

18043 - 17627 / 5483 - 5341 levels.

For Private Circulation Only |

Technical Research | February 22, 2012

Bank Nifty Outlook - (11170)

Exhibit 2: Bank Nifty Daily Chart

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

the mentioned range of 11013 - 11204. The candle stick

pattern “Spinning Top” formed during Friday’s session

still holds as the index failed to close above the high

(11204) of the mentioned pattern. On the hourly chart we

are witnessing a possibility of negative divergence on

“RSI” momentum oscillator. A consolidation or minor

correction is likely only if the Bank Nifty falls below

Friday’s low of 11013. In such a scenario the index is

likely to test 10940 - 10775 levels. On the upside if the

index sustains above yesterday’s high of 11207 then it is

likely to rally towards 11325 - 11450 levels.

Actionable points:

View

Positive

Buy above

11207

Expected Target

11325 - 11450

Support Levels

11013 - 10938 - 10775

Source: Falcon

For Private Circulation Only |

Technical Research | February 22, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

18,221

18,325

18,398

18,502

18,575

NIFTY

5,537

5,572

5,597

5,632

5,657

BANKNIFTY

10,976

11,073

11,140

11,237

11,304

ACC

1,342

1,356

1,368

1,383

1,395

AMBUJACEM

168

170

173

175

178

AXISBANK

1,248

1,268

1,288

1,308

1,328

BAJAJ-AUTO

1,771

1,790

1,809

1,828

1,847

BHARTIARTL

341

350

355

364

370

BHEL

303

310

315

323

328

BPCL

594

604

614

624

634

CAIRN

382

387

392

396

401

CIPLA

318

320

323

325

328

DLF

316

321

325

330

334

DRREDDY

247

253

257

262

266

GAIL

1,617

1,633

1,647

1,663

1,676

HCLTECH

374

377

380

384

386

HDFC

483

488

492

497

500

HDFCBANK

705

710

716

720

726

HEROMOTOCO

516

524

529

537

542

HINDALCO

2,106

2,127

2,142

2,162

2,177

HINDUNILVR

150

153

155

158

160

ICICIBANK

376

379

384

387

391

IDFC

966

979

989

1,001

1,012

INFY

142

146

149

154

157

ITC

2,888

2,913

2,936

2,962

2,985

JINDALSTEL

204

206

207

209

210

JPASSOCIAT

629

637

646

654

663

KOTAKBANK

561

569

577

584

593

M&M

1,414

1,430

1,455

1,471

1,495

MARUTI

726

744

757

775

788

NTPC

1,272

1,291

1,314

1,333

1,356

ONGC

182

184

187

189

192

PNB

278

285

290

297

301

POWERGRID

1,051

1,061

1,076

1,087

1,101

RANBAXY

109

110

111

112

113

RCOM

441

445

450

454

458

RELCAPITAL

102

105

106

109

111

RELIANCE

802

823

836

857

869

RELINFRA

602

621

632

651

662

RPOWER

122

125

128

131

134

SAIL

109

110

112

114

116

SBIN

2,387

2,420

2,447

2,480

2,507

SESAGOA

236

241

248

253

260

SIEMENS

814

821

830

836

846

STER

121

125

130

134

139

SUNPHARMA

534

538

544

549

554

SUZLON

TATAMOTORS

266

269

272

275

279

TATAPOWER

110

113

117

120

124

TATASTEEL

470

481

491

502

512

TCS

1,192

1,215

1,227

1,250

1,263

WIPRO

436

440

445

449

455

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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