Technical Research | December 27, 2011

Daily Technical Report

Sensex (15971) / NIFTY (4779)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened quietly and then traded with a

positive bias throughout the session. Subsequently, indices

moved towards the 4800 mark and closed marginally

below it. On the sectoral front, Technology, IT and Realty

sectors were among the major gainers, whereas Health

Care counters ended marginally on the losing side. The

advance to decline ratio was strongly in favor of advancing

counters.

(A=1662 D=1015).

(Source

www.bseindia.com)

Formation

• We are witnessing a positive crossover in “RSI

Smoothened” oscillator.

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

4800 level.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

After a flat opening in yesterday’s session, indices continued

Resistance levels

4800 - 4820 - 4881

to move higher and tested the 20 Day EMA during the

Support levels

4757 - 4693

second half. Going forward, 16020 - 16070 / 4800 -

4820 levels are likely to act as a strong resistance zone.

Further, we are observing a positive crossover in “RSI -

Smoothened” oscillator, which indicates possibility of

increase in positive momentum, if indices manage to

sustain above upper range of the resistance zone i.e.

16070 / 4820. In this case, indices are likely to move

towards 16286 - 16421/ 4881 - 4920 levels. On the

downside, the immediate support levels are at 15887 -

15671 / 4757 - 4693.

For Private Circulation Only |

Technical Research | December 27, 2011

Bank Nifty Outlook - (8375)

Exhibit 2: Bank Nifty Daily Chart

Bank Nifty opened on an optimistic note and traded in a

narrow range throughout the session. The volumes were

lower in comparison to previous sessions. As mentioned

in our previous reports, the positive crossover of

“Stochastic and RSI” momentum oscillator on the daily

chart is still intact. Therefore, if Bank Nifty sustains above

yesterday’s high of 8420 then it is likely to rally towards

8520 - 8570. These levels are near the 50% Fibonacci

retracement of the fall from 9273 - 7766 and “20 SMA”.

Thus we may witness some consolidation near to 8520 -

8570 levels. On the down side, 8250 - 8072 levels may

act as support levels in coming trading session.

Actionable points:

View

Neutral

Resistance Level

8420 - 8520 - 8570

Support Level

8250 - 8072

Source: Falcon

For Private Circulation Only |

Technical Research | December 27, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,673

15,822

15,910

16,059

16,147

NIFTY

4,692

4,736

4,761

4,805

4,831

BANKNIFTY

8,235

8,305

8,362

8,432

8,490

ACC

1,121

1,140

1,152

1,171

1,183

AMBUJACEM

153

157

159

162

164

AXISBANK

853

862

877

886

901

BAJAJ-AUTO

1,582

1,597

1,608

1,622

1,634

BHARTIARTL

329

337

341

349

354

BHEL

237

240

244

248

251

BPCL

489

495

505

511

521

CAIRN

312

318

321

326

330

CIPLA

324

326

329

331

334

DLF

192

194

196

199

200

DRREDDY

1,558

1,571

1,589

1,602

1,620

GAIL

383

389

394

400

404

HCLTECH

380

384

391

395

401

HDFC

652

659

665

672

677

HDFCBANK

434

439

442

447

450

HEROMOTOCO

1,807

1,864

1,903

1,960

1,998

HINDALCO

119

120

121

122

124

HINDUNILVR

409

414

417

422

426

ICICIBANK

712

721

728

737

743

IDFC

100

101

102

INFY

2,655

2,716

2,751

2,812

2,847

ITC

201

203

205

206

208

JINDALSTEL

476

482

487

494

499

JPASSOCIAT

KOTAKBANK

452

457

461

467

471

1,005

1,015

1,025

1,035

1,044

M&M

687

695

700

707

713

MARUTI

949

959

975

985

1,001

NTPC

158

159

160

162

163

ONGC

259

261

262

264

265

PNB

799

806

815

822

832

POWERGRID

100

101

102

RANBAXY

389

395

400

407

412

RCOM

RELCAPITAL

241

246

250

255

259

RELIANCE

738

749

757

769

776

RELINFRA

355

361

366

372

377

RPOWER

SAIL

SBIN

1,628

1,647

1,661

1,680

1,694

SESAGOA

159

161

163

166

167

SIEMENS

637

645

658

666

679

STER

SUNPHARMA

483

492

498

507

513

SUZLON

TATAMOTORS

183

185

187

189

190

TATAPOWER

TATASTEEL

344

351

355

362

367

TCS

1,141

1,165

1,177

1,201

1,214

WIPRO

398

402

407

411

416

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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