Technical Research | March 27, 2012

Daily Technical Report

Sensex (17053) / NIFTY (5184)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a flat opening in-line with other

Asian bourses. However, selling pressure intensified as the

day progressed and dragged indices to close almost at the

lowest point of the day. It must be noted that participation

from domestic institutions was extremely muted in

yesterday’s session. On sectoral front, Realty, Power and

Banking counters were among the major losers. There was

no sector in the positive territory. The advance to decline

ration was strongly in favour of declining counters (A=962

D=1889) (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

The week began on a quiet note but market drifted lower

Resistance Levels

5275 - 5312

right from the opening trades. Selling pressure gained

Support Levels

5171 - 5076 - 5000

momentum on the violation of Friday’s low of 17179 /

5220. As a result, indices continued sliding down and tested

the mentioned strong support level of 17008 / 5171. This

support level almost coincides with “200-day SMA” and

“20-week EMA”. Therefore, it can be considered as a strong

support zone. Considering the global cues in today’s

session, it is likely that our markets may open on a positive

note. On the upside, 17388 - 17459 / 5275 - 5312 levels

may act as resistance in coming trading session. On The

downside, if indices manage to sustain below 17008 /

5171, then we are likely to witness further downside

momentum. In this case, indices may fall lower to test the

next support zone of 16828 - 16600 / 5076 - 5000.

For Private Circulation Only |

Technical Research | March 27, 2012

Bank Nifty Outlook - (10044)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and not only

tested the 10000 level during the session, but managed

to close well below the mentioned range of 10100 -

10600. We are now witnessing a trend line breakdown

formed by joining the lows of January30, 2012 and

March7, 2012. The momentum oscillators on the daily

chart are negatively poised. However, we are witnessing a

positive divergence in “RSI” momentum oscillator on the

hourly chart. Thus possibility of a minor pullback cannot

be ruled out. On the upside 10250 - 10340 levels are

likely to act as resistance in coming trading session.

Moreover any move below yesterday’s low of 10013 will

trigger fresh momentum on the downside and the index

may drift towards 9939 - 9800 levels.

Actionable points:

View

Neutral

Resistance Levels

10250 - 10340

Support Levels

10013 - 9939 - 9800

Source: Falcon

For Private Circulation Only |

Technical Research | March 27, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,795

16,924

17,151

17,280

17,506

NIFTY

5,111

5,148

5,211

5,248

5,311

BANKNIFTY

9,857

9,950

10,107

10,200

10,357

ACC

1,298

1,314

1,340

1,356

1,382

AMBUJACEM

163

166

170

172

176

AXISBANK

1,085

1,105

1,140

1,160

1,195

BAJAJ-AUTO

1,611

1,637

1,678

1,704

1,745

BHARTIARTL

320

324

331

335

341

BHEL

251

255

261

264

270

BPCL

647

656

671

680

695

CAIRN

341

344

350

354

359

CIPLA

277

283

292

298

307

COALINDIA

324

328

332

336

340

DLF

183

186

192

195

200

DRREDDY

1,629

1,646

1,659

1,676

1,689

GAIL

352

357

365

370

378

HCLTECH

451

464

484

497

517

HDFC

643

647

654

658

665

HDFCBANK

500

506

511

517

522

HEROMOTOCO

1,928

1,965

1,994

2,030

2,060

HINDALCO

123

125

129

131

135

HINDUNILVR

393

398

402

407

411

ICICIBANK

842

857

881

896

920

IDFC

122

125

130

133

138

INFY

2,792

2,812

2,840

2,859

2,888

ITC

219

221

223

224

226

JINDALSTEL

503

515

532

543

560

JPASSOCIAT

KOTAKBANK

515

523

531

539

547

1,260

1,270

1,284

1,294

1,308

M&M

667

674

681

688

695

MARUTI

1,271

1,284

1,303

1,316

1,335

NTPC

160

163

168

170

175

ONGC

255

258

264

268

273

PNB

877

894

923

940

969

POWERGRID

104

105

106

107

108

RANBAXY

401

406

414

419

427

RCOM

RELIANCE

717

723

734

740

751

RELINFRA

561

572

588

598

614

RPOWER

115

117

120

122

125

SAIL

SBIN

2,080

2,099

2,129

2,148

2,178

SESAGOA

179

184

192

197

205

SIEMENS

749

757

770

778

790

STER

102

105

109

112

117

SUNPHARMA

566

572

578

584

590

SUZLON

TATAMOTORS

263

266

269

272

276

TATAPOWER

102

TATASTEEL

430

435

443

449

457

TCS

1,136

1,149

1,167

1,180

1,198

WIPRO

416

419

425

428

433

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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