Technical Research | March 22, 2012

Daily Technical Report

Sensex (17602) / NIFTY (5365)

Exhibit 1: Nifty Daily Chart

Yesterday, yet again we witnessed a flat opening in-line with

global cues. However, strong buying emerged near

mentioned support levels and indices finally closed at the

highest point of the day. On the sectoral front, Capital

Goods, Realty, Banking and Power 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 advancing counters. (A=1757 D=1135) (Source -

www.bseindia.com)

Formation:

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

day EMA (Exponential Moving Average) have now shifted to

17164 / 5163 and 17575 / 5344, respectively.

• On the daily chart, we are witnessing a positive

crossover in “RSI” oscillator.

• Indices have closed around the “Upward Sloping Trend

Line” level of 17250 / 5255.

Source: Falcon

Actionable points:

Trading strategy:

View

Bullish above 5372

After a quiet opening, markets drifted marginally lower

Expected Target

5414 - 5446

during the initial trade. However, post mid-session, indices

Support Levels

5297 - 5233

gained momentum after crossing high of the “Bullish

Harami” pattern mentioned in our earlier report. This was

supported by positively poised oscillators and “5 & 20 EMA”

in the hourly chart. We are now observing a positive

crossover in daily “RSI” oscillator and expect the current

rally to continue further to higher levels over the next few

sessions. For the day, once the indices manage to cross

above yesterday’s high of 17623 / 5372, then they are

likely to test 17756 - 17871 / 5414 - 5446 levels. On the

downside, 17410 - 17211 / 5297 - 5233 levels may

provide decent support for the markets.

For Private Circulation Only |

Technical Research | March 22, 2012

Bank Nifty Outlook - (10524)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and gained

momentum as the day progressed to test the mentioned

resistance level of 10556. The “Tweezer Bottom” pattern

formation mentioned in our previous report has been

confirmed as the index managed to close above the

10369 level. We are observing a positive crossover in

“RSI” momentum oscillator on the daily chart. Moreover,

the momentum oscillator “RSI” has moved above

which is a sign of strength in the index. Thus if the Bank

Nifty manages to sustain above yesterday’s high of

10562 then it is likely to rally further to test 10683 -

10750 levels. On the downside 10348 - 10298 levels

are likely to act as support in coming trading session.

Actionable points:

View

Positive Above 10562

Expected Target

10683 - 10750

Support Levels

10348 - 10298

Source: Falcon

For Private Circulation Only |

Technical Research | March 22, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,153

17,377

17,500

17,724

17,847

NIFTY

5,215

5,290

5,331

5,406

5,447

BANKNIFTY

10,090

10,307

10,435

10,652

10,779

ACC

1,339

1,365

1,381

1,407

1,423

AMBUJACEM

166

170

173

176

179

AXISBANK

1,158

1,194

1,218

1,253

1,278

BAJAJ-AUTO

1,644

1,689

1,714

1,759

1,785

BHARTIARTL

318

325

330

337

342

BHEL

256

263

267

274

278

BPCL

665

680

691

707

718

CAIRN

347

352

356

361

365

CIPLA

300

303

306

310

312

COALINDIA

325

328

330

334

336

DLF

189

196

201

208

212

DRREDDY

1,651

1,664

1,674

1,686

1,696

GAIL

355

362

368

375

381

HCLTECH

483

488

492

497

501

HDFC

652

660

664

672

677

HDFCBANK

497

506

512

521

527

HEROMOTOCO

1,892

1,909

1,927

1,944

1,962

HINDALCO

133

135

136

138

140

HINDUNILVR

392

397

401

407

410

ICICIBANK

881

908

924

950

966

IDFC

133

139

142

147

150

INFY

2,790

2,829

2,859

2,898

2,928

ITC

219

222

223

226

227

JINDALSTEL

562

575

583

597

604

JPASSOCIAT

KOTAKBANK

531

538

542

549

554

1,247

1,297

1,327

1,377

1,407

M&M

677

688

695

706

713

MARUTI

1,316

1,340

1,356

1,380

1,396

NTPC

170

173

175

177

179

ONGC

267

269

272

274

276

PNB

938

956

967

986

996

POWERGRID

106

107

108

110

111

RANBAXY

393

408

416

430

439

RCOM

RELIANCE

747

758

766

776

784

RELINFRA

568

594

610

636

652

RPOWER

118

123

127

132

135

SAIL

100

102

SBIN

2,153

2,193

2,216

2,256

2,279

SESAGOA

191

197

202

208

212

SIEMENS

758

780

796

817

833

STER

110

113

115

118

120

SUNPHARMA

558

563

569

574

581

SUZLON

TATAMOTORS

259

268

273

281

286

TATAPOWER

102

103

104

105

106

TATASTEEL

439

456

465

482

491

TCS

1,121

1,148

1,164

1,192

1,207

WIPRO

418

423

428

433

439

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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