Technical Research | December 26, 2011

Daily Technical Report

Sensex (15739) / NIFTY (4714)

Exhibit 1: Nifty Daily Chart

On Friday, indices opened higher and continued to face

strong selling pressure at higher levels. A minor correction

during the second half, pulled indices lower from the day’s

high to close marginally above 4700 mark. On the sectoral

front, Consumer Durables and Banking sectors corrected on

Friday, whereas Capital Goods counters ended on a

gaining side. The advance to decline ratio was in favor of

advancing counters. (A=1546 D=1069). (Source

www.bseindia.com)

Formation

• On the Daily chart, we are witnessing a “Downward

Sloping Trend Line” joining two lows of 15760 - 15479 /

4728 - 4639. Also, there is a positive crossover in “RSI”

momentum oscillator.

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

4800 level.

Source: Falcon

Trading strategy:

Actionable points:

View

Neutral

Last week, markets anchored their position near the

Resistance levels

4764 - 4800 - 4820

“Downward Sloping Trend Line” (joining two lows of 15760

Support levels

4678 - 4638 - 4600

- 15479 / 4728 - 4639) support level of 15330 / 4540.

Thus, the weekly low of 15135 / 4531 would now act a

strong and crucial support level for our markets. The

positive crossover in the daily “RSI” oscillator is still intact.

As a result, positive momentum is likely to resume if indices

sustain above Friday’s high of 15911 / 4764. In this case,

indices may move higher to test the resistance zone of

16020 - 16070 / 4800 - 4820, which also coincides with

the daily 20 EMA. If our markets manage to sustain above

these hurdles, then they are likely to rally further towards

16286 - 16421/ 4881 - 4920 levels. On the flip side, only

a sustainable move below 15135 / 4531 would reinforce

the negative momentum and indices then may drift towards

the next support levels of 14870 - 14400 / 4430 - 4300.

For Private Circulation Only |

Technical Research | December 26, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,534

15,636

15,774

15,876

16,014

NIFTY

4,653

4,684

4,724

4,754

4,794

BANKNIFTY

8,135

8,216

8,334

8,414

8,532

ACC

1,108

1,124

1,143

1,158

1,178

AMBUJACEM

153

154

156

158

160

AXISBANK

850

865

881

895

911

BAJAJ-AUTO

1,570

1,584

1,602

1,616

1,634

BHARTIARTL

322

326

332

336

342

BHEL

234

238

242

247

251

BPCL

485

496

512

522

538

CAIRN

311

314

317

320

323

CIPLA

324

327

332

335

339

DLF

187

190

196

200

205

DRREDDY

1,557

1,573

1,588

1,604

1,619

GAIL

384

388

392

395

400

HCLTECH

381

385

390

394

398

HDFC

648

655

662

668

675

HDFCBANK

430

434

440

444

451

HEROMOTOCO

1,787

1,818

1,844

1,875

1,901

HINDALCO

117

120

123

125

128

HINDUNILVR

405

409

412

415

418

ICICIBANK

703

713

723

733

744

IDFC

100

102

105

INFY

2,649

2,672

2,706

2,729

2,763

ITC

201

203

204

205

207

JINDALSTEL

468

477

489

499

511

JPASSOCIAT

KOTAKBANK

444

450

459

465

473

972

991

1,017

1,035

1,062

M&M

683

690

699

705

714

MARUTI

957

966

977

987

998

NTPC

153

155

160

163

168

ONGC

256

259

263

266

270

PNB

787

802

822

836

856

POWERGRID

100

101

102

103

RANBAXY

390

398

409

417

428

RCOM

RELCAPITAL

236

241

248

253

260

RELIANCE

726

736

753

763

780

RELINFRA

348

354

362

369

377

RPOWER

SAIL

SBIN

1,605

1,626

1,659

1,680

1,713

SESAGOA

153

157

162

167

172

SIEMENS

640

649

657

666

674

STER

SUNPHARMA

492

495

499

502

505

SUZLON

TATAMOTORS

180

183

185

187

190

TATAPOWER

TATASTEEL

337

342

350

356

364

TCS

1,130

1,144

1,153

1,166

1,176

WIPRO

390

398

404

411

417

Technical Research Team

For Private Circulation Only |

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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