Technical Research | January 25, 2012

Daily Technical Report

Sensex (16996) / NIFTY (5127)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed an optimistic opening and Indices

traded with extreme volatility before the announcement of

RBI Monetary policy. However, post the announcement of a

higher than expected CRR cut, buying momentum resumed

and indices closed well above 5100 mark. On the sectoral

front, Capital Goods, Banking and Metal counters

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

in the negative territory. The advance to decline ratio was in

favor of advancing counters. (A=1592 D=1207) (Source -

www.bseindia.com)

Formation:

• We are witnessing a positive crossover on weekly “RSI -

Smoothened” oscillator.

• Indices are nearing a “Downward Sloping Trend Line”

joining July 8, 2011 high of 19132 / 5740 and October

20, 2011 high of 17908 / 5400

Source: Falcon

• The 200-day SMA is now placed around 17356 / 5210

level.

Actionable points:

Trading strategy:

View

Neutral

Benchmark Indices opened with an upside gap and traded

Resistance levels

5141 - 5210

with a strong positive momentum post announcement of RBI

Support level

5049

Monetary policy. Subsequently, indices surged significantly

higher to register a close well above 5100 mark for the first

time after November 14, 2011. We are now observing that

indices have closed near the “Downward Sloping Trend

Line” joining July 8, 2011 high of 19132 / 5740 and

October 20, 2011 high of 17908 / 5400. Hence, a move

beyond yesterday’s high of 17050 / 5141 may reinforce

positive momentum and then indices may rally towards the

200-day SMA level of 17356 / 5210. On the downside, the

16670 / 5049 level may provide decent support in coming

trading session.

For Private Circulation Only |

Technical Research | January 25, 2012

Bank Nifty Outlook - (9834)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and gained

momentum post RBI monetary policy and tested 9900 level.

The “Shooting Star” candle stick pattern mentioned in our

previous report has been negated as the index managed to

close above 9659 level. Going forward if the index manages

to sustain above yesterday’s high of 9885 then it is likely to

test

9976

10017 levels. At present, the momentum

indicators suggest that the index is extremely overbought and

a small correction cannot be ruled out. In such a scenario

Bank Nifty is likely to find support near 9670 - 9548 levels in

coming trading session.

Actionable points:

View

Neutral

Resistance levels

9885 - 9976 - 10017

Support Levels

9670 - 9548

Source: Falcon

For Private Circulation Only |

Technical Research | January 25, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,658

16,827

16,939

17,107

17,219

NIFTY

5,015

5,071

5,106

5,162

5,197

BANKNIFTY

9,296

9,565

9,725

9,994

10,154

ACC

1,155

1,166

1,175

1,186

1,195

AMBUJACEM

156

158

160

162

164

AXISBANK

959

996

1,021

1,058

1,083

BAJAJ-AUTO

1,537

1,559

1,578

1,600

1,619

BHARTIARTL

347

352

357

361

366

BHEL

275

278

282

285

290

BPCL

531

544

554

566

576

CAIRN

343

348

351

355

358

CIPLA

339

342

344

347

349

DLF

210

214

219

224

229

DRREDDY

1,625

1,635

1,649

1,659

1,673

GAIL

363

365

369

371

374

HCLTECH

404

416

423

435

442

HDFC

690

695

701

706

711

HDFCBANK

475

482

487

494

500

HEROMOTOCO

1,792

1,840

1,877

1,925

1,962

HINDALCO

133

138

142

147

150

HINDUNILVR

387

390

395

398

402

ICICIBANK

829

858

877

906

925

IDFC

116

121

124

129

132

INFY

2,574

2,597

2,618

2,642

2,663

ITC

203

204

206

207

209

JINDALSTEL

529

539

546

556

563

JPASSOCIAT

KOTAKBANK

463

479

489

505

515

1,255

1,304

1,335

1,383

1,415

M&M

645

665

677

697

709

MARUTI

1,109

1,133

1,153

1,177

1,197

NTPC

171

173

175

177

179

ONGC

269

271

275

277

281

PNB

927

965

990

1,027

1,052

POWERGRID

100

101

102

RANBAXY

451

459

465

473

478

RCOM

RELCAPITAL

317

328

337

348

356

RELIANCE

761

772

782

793

803

RELINFRA

453

466

479

493

506

RPOWER

100

SAIL

SBIN

1,877

1,959

2,009

2,090

2,140

SESAGOA

183

186

189

193

196

SIEMENS

727

745

756

774

786

STER

103

107

109

114

116

SUNPHARMA

502

509

518

525

535

SUZLON

TATAMOTORS

213

217

221

225

229

TATAPOWER

102

105

107

109

111

TATASTEEL

413

423

431

441

450

TCS

1,070

1,079

1,087

1,096

1,104

WIPRO

412

415

419

422

426

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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