Technical Research | March 26, 2012

Daily Technical Report

Sensex (17362) / NIFTY (5278)

Exhibit 1: Nifty Daily Chart

On Friday, our Benchmark indices closed on a positive note

in spite of biggest intraday loss on Thursday, in the whole of

2012. Most high beta counters bounced off their lows on

the back of short covering and are near to critical support

levels. On sectoral front, Teck, Realty and IT counters were

among the major gainers. Consumer durables and Metal

counters ended with marginal loss. The advance to decline

ration was marginally in favour of advancing counters

(A=1470 D=1431) (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 17607 / 5350, respectively.

• The “20-Week EMA” is placed at 17150 / 5188 level.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

Broadly speaking, Indices are trading in the range of 17687

Resistance Levels

5312 - 5386

to 17008 / 5386 to 5171. Clarity of trend will emerge only

Support Levels

5225 - 5200 - 5171

if after we witness a breakout on either side from the said

range. On the upside, the positive trend will resume once

Extreme volatility is likely to continue in the coming week on

markets trade and close beyond 17687 / 5386. In this

account of the derivative expiry. We advise traders to adopt

scenario, indices are likely to surge towards the next

stock specific approach and trade with strict stop loss.

resistance levels of

18041 - 18524 / 5500 - 5610.

Conversely, the 17008 / 5171 level is a key support for the

market. A sustainable move below this level may reinforce

selling pressure, which may drag indices lower to test the

support zone of 16828 - 16600 / 5076 - 5000.

For Private Circulation Only |

Technical Research | March 26, 2012

Bank Nifty Outlook - (10295)

Exhibit 2: Bank Nifty Daily Chart

On Friday, Bank Nifty opened on a flat note and traded

with extreme volatility throughout the session to close

marginally above the initial opening level. The index

tested both the mentioned resistance as well as support

levels of 10413 and 10135 respectively. Looking at the

hourly charts, it can be seen that the Bank Nifty is in a

broad trading range of 10600 - 10100. Only a breakout

or a breakdown from the mentioned range will dictate the

direction of the trend. The momentum oscillators on the

hourly and daily charts paint a mixed picture; and hence

volatility is likely to increase in the next few sessions. On

the upside 10413 - 10600 levels are likely to act as

resistance within the range. On the downside 10100 may

act as support.

Actionable points:

View

Neutral

Resistance Levels

10413 - 10600

Support Levels

10100

Source: Falcon

For Private Circulation Only |

Technical Research | March 26, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,054

17,208

17,333

17,487

17,612

NIFTY

5,178

5,228

5,270

5,320

5,362

BANKNIFTY

9,996

10,145

10,275

10,424

10,553

ACC

1,322

1,347

1,366

1,391

1,410

AMBUJACEM

165

169

172

176

179

AXISBANK

1,128

1,154

1,178

1,204

1,228

BAJAJ-AUTO

1,604

1,657

1,700

1,753

1,796

BHARTIARTL

313

325

332

344

351

BHEL

254

260

265

271

276

BPCL

657

669

678

690

700

CAIRN

341

348

353

359

364

CIPLA

295

298

300

304

306

COALINDIA

323

329

336

342

349

DLF

189

193

196

199

202

DRREDDY

1,634

1,650

1,662

1,678

1,690

GAIL

351

360

368

377

384

HCLTECH

470

477

483

491

497

HDFC

653

657

660

664

668

HDFCBANK

493

504

511

521

529

HEROMOTOCO

1,863

1,940

1,999

2,077

2,136

HINDALCO

126

128

132

135

138

HINDUNILVR

392

397

402

408

413

ICICIBANK

884

897

910

924

937

IDFC

132

133

136

138

140

INFY

2,810

2,841

2,862

2,894

2,914

ITC

217

220

222

225

227

JINDALSTEL

511

524

539

551

566

JPASSOCIAT

KOTAKBANK

506

516

524

534

543

1,267

1,284

1,304

1,321

1,341

M&M

666

677

686

697

706

MARUTI

1,270

1,288

1,304

1,323

1,339

NTPC

169

170

172

173

175

ONGC

262

265

268

271

275

PNB

920

935

948

964

977

POWERGRID

105

106

107

109

110

RANBAXY

400

408

413

421

425

RCOM

RELIANCE

732

738

744

750

755

RELINFRA

569

582

594

607

619

RPOWER

116

119

122

125

127

SAIL

SBIN

2,089

2,128

2,166

2,205

2,244

SESAGOA

190

194

199

203

207

SIEMENS

761

770

781

790

801

STER

107

110

113

115

118

SUNPHARMA

549

565

575

590

601

SUZLON

TATAMOTORS

264

268

272

276

280

TATAPOWER

101

102

TATASTEEL

436

442

449

455

462

TCS

1,153

1,169

1,180

1,196

1,208

WIPRO

417

421

424

429

432

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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