Technical Research | February 28, 2012

Daily Technical Report

Sensex (17446) / NIFTY (5281)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened on a flat note in-line with other

Asian indices. However, strong selling pressure was seen on

the violation of Friday’s low which led indices to close at the

lowest point of the session. On the sectoral front, Realty,

Metal, Power and Banking counters contributed heavily in

yesterday’s fall, whereas FMCG sector ended with a

nominal gain. The losses were higher in the mid and small

cap space and the nifty lost more than 2.7%. The advance

to decline ratio was strongly in favour of declining counters.

(A=652 D=2208) (Source -www.bseindia.com)

Formation:

• The 200-day SMA and 20-day EMA have now shifted to

17200 / 5170 and 17720 / 5370, respectively.

• The “RSI-Smoothened” oscillator and “3 & 8 EMA” on

the daily chart have given a negative crossover.

• The weekly “Stochastic” oscillator is negatively poised.

Source: Falcon

Trading strategy:

Actionable points:

Our markets opened on a flat note but selling pressure was

View

Negative below 5255

clearly evident from the first few trades of the session.

Expected target

5170 - 5120

Subsequently, the impact of negatively poised “RSI-

Resistance level

5340 - 5370

Smoothened” and “3 & 8 daily EMA” was seen on the

violation of Friday’s low of 17848 / 5405. We observed

strong selling pressure which pulled indices significantly

lower to close well below “Daily 20-EMA”. The immediate

support level is at 17382 / 5255 level. If indices sustain

below this level then they may fall further towards the “200-

day SMA” placed around 17200 - 5170 level. On the

upside, 17720 - 17975 / 5370 - 5450 levels may act as

strong resistance levels in coming trading session.

We reiterate that traders should adopt cautious

approach and trade with strict stop-loss.

For Private Circulation Only |

Technical Research | February 28, 2012

Bank Nifty Outlook - (10104)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note and selling

pressure was witnessed throughout the session, which led

the index to close near the lowest point of the day. As

stated in our previous report selling pressure intensified

below the mentioned support level of 10390. The index

has managed to close well below the “20 EMA” currently

placed at 10360 level coupled with negative crossover of

directional indicators in “ADX (14)” indicator. Combining

the above technical evidences it is quite likely that if the

index sustains below yesterday’s low of 10073 then it is

likely to test the support zone of 9900 - 9850. The said

support zone is formed by confluence of 38.2% Fibonacci

retracement of the rise from December 20, 2011 -

February 22, 2012 and 200 SMA. On the upside 10380

- 10528 are likely to act as resistance in coming trading

session.

Actionable points:

View

Negative below 10073

Expected Target

9900 - 9850

Resistance Levels

10380 - 10528

Source: Falcon

For Private Circulation Only |

Technical Research | February 28, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,007

17,227

17,601

17,820

18,194

NIFTY

5,151

5,216

5,333

5,398

5,515

BANKNIFTY

9,781

9,943

10,235

10,396

10,689

ACC

1,213

1,236

1,260

1,283

1,307

AMBUJACEM

155

157

159

161

163

AXISBANK

1,053

1,084

1,136

1,167

1,219

BAJAJ-AUTO

1,628

1,667

1,720

1,759

1,812

BHARTIARTL

332

336

342

346

352

BHEL

273

281

294

302

315

BPCL

632

646

665

679

699

CAIRN

356

367

378

389

400

CIPLA

306

310

315

319

324

COALINDIA

310

317

324

330

338

DLF

204

210

219

224

233

DRREDDY

1,597

1,614

1,629

1,646

1,661

GAIL

366

369

373

376

381

HCLTECH

470

477

488

495

505

HDFC

649

657

670

678

691

HDFCBANK

500

508

520

527

539

HEROMOTOCO

1,806

1,869

1,978

2,041

2,150

HINDALCO

133

136

142

146

152

HINDUNILVR

370

375

383

388

396

ICICIBANK

850

869

901

919

951

IDFC

123

127

133

137

144

INFY

2,814

2,849

2,907

2,942

3,000

ITC

207

210

211

214

216

JINDALSTEL

544

563

591

610

637

JPASSOCIAT

KOTAKBANK

520

532

542

553

563

1,253

1,277

1,314

1,338

1,375

M&M

665

681

707

723

749

MARUTI

1,206

1,232

1,261

1,286

1,316

NTPC

171

176

180

185

190

ONGC

271

276

282

287

293

PNB

842

875

922

955

1,002

POWERGRID

109

110

113

114

116

RANBAXY

415

420

427

431

438

RCOM

RELIANCE

731

756

791

816

851

RELINFRA

503

522

554

573

605

RPOWER

102

106

113

116

123

SAIL

100

104

110

SBIN

2,042

2,083

2,151

2,192

2,260

SESAGOA

193

198

208

214

223

SIEMENS

729

751

775

797

820

STER

106

111

119

123

131

SUNPHARMA

539

544

549

554

559

SUZLON

TATAMOTORS

249

254

261

267

274

TATAPOWER

104

107

111

113

117

TATASTEEL

414

428

453

467

492

TCS

1,225

1,238

1,259

1,273

1,294

WIPRO

411

418

429

436

448

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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