Technical Research | March 28, 2012

Daily Technical Report

Sensex (17257) / NIFTY (5243)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened on optimistic note in-line with

strong global bourses. However, indices traded with

extreme volatility before eventually managing to close well

in the positive territory. On sectoral front, Consumer

Durables, FMCG and Realty counters contributed heavily in

yesterday’s up move, whereas Power sector closed with

minor loss. The advance to decline ratio was strongly in

favour of declining counters (A=1189 D=1707) (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.

• The candlestick pattern on the daily chart resembles a

“Bullish Harami Cross”.

Source: Falcon

Actionable points:

Trading strategy:

View

Positive Above 5278

Yesterday, after opening significantly higher, indices drifted

Expected Targets

5312 - 5386

Support Levels

5171 - 5076

lower during the initial trade. However, strong buying

interest emerged at midst of the session pushed indices to

close near the

5250 mark. As mentioned above, the

candlestick pattern on the daily chart represents a “Bullish

Harami Cross”, which requires confirmation in the form of

a close above the 17367 / 5278 mark. Going forward,

positive momentum is likely to resume once indices cross

yesterday's high of 17367 / 5278. In this case, we are

likely to test next resistance levels of 17458 - 17687 / 5312

- 5386 levels. On the downside, 17008 / 5171 remains to

be a strong support in coming trading session.

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Technical Research | March 28, 2012

Bank Nifty Outlook - (10149)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on an optimistic note and

traded with extreme volatility throughout the session to

close marginally below the initial opening level. We had

mentioned in our previous report that we are witnessing a

positive divergence in “RSI” momentum oscillator on the

hourly chart and a possibility of a minor pullback cannot

be ruled out. At his juncture we see a “Homing Pigeon”

candlestick pattern on the daily chart which is a sign of

reversal. Moreover, the momentum oscillators on the

daily chart are in an oversold condition. Thus if the index

sustains above yesterday’s high of 10247 then it is likely

to rally towards 10340 - 10405. On the downside 10026

- 9939 levels are likely to act as support in coming

trading session. The mentioned pattern will be negated if

the index closes below 9967 level.

Actionable points:

View

Bullish Above 10247

Expected Target

10340 - 10405

Support Levels

10026 - 9939

Source: Falcon

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Technical Research | March 28, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,923

17,090

17,228

17,396

17,534

NIFTY

5,142

5,193

5,235

5,286

5,329

BANKNIFTY

9,842

9,995

10,121

10,275

10,401

ACC

1,282

1,303

1,324

1,345

1,366

AMBUJACEM

160

163

167

171

175

AXISBANK

1,096

1,119

1,140

1,163

1,184

BAJAJ-AUTO

1,632

1,647

1,665

1,680

1,698

BHARTIARTL

327

333

336

342

345

BHEL

245

250

257

262

268

BPCL

651

659

670

678

688

CAIRN

341

348

354

361

367

CIPLA

286

293

298

305

310

COALINDIA

321

326

330

335

340

DLF

188

193

196

201

203

DRREDDY

1,648

1,665

1,676

1,692

1,703

GAIL

357

360

364

368

372

HCLTECH

458

464

475

481

491

HDFC

648

658

665

674

681

HDFCBANK

508

513

518

523

527

HEROMOTOCO

1,962

1,986

2,013

2,037

2,064

HINDALCO

125

127

129

132

134

HINDUNILVR

398

407

412

422

427

ICICIBANK

836

857

873

894

909

IDFC

125

128

130

132

134

INFY

2,799

2,838

2,871

2,909

2,942

ITC

220

223

225

228

230

JINDALSTEL

508

521

529

542

550

JPASSOCIAT

KOTAKBANK

523

531

539

547

555

1,257

1,280

1,301

1,324

1,345

M&M

670

677

685

693

701

MARUTI

1,229

1,251

1,281

1,303

1,333

NTPC

160

162

165

167

170

ONGC

256

261

264

269

273

PNB

885

905

922

942

959

POWERGRID

104

105

106

107

108

RANBAXY

405

409

415

419

426

RCOM

RELIANCE

718

725

732

738

745

RELINFRA

563

573

585

594

607

RPOWER

117

118

120

122

124

SAIL

SBIN

2,059

2,094

2,133

2,168

2,207

SESAGOA

188

192

194

198

200

SIEMENS

737

749

767

779

797

STER

108

110

111

113

115

SUNPHARMA

563

570

576

582

589

SUZLON

TATAMOTORS

262

267

271

277

281

TATAPOWER

100

TATASTEEL

433

440

445

452

457

TCS

1,141

1,158

1,169

1,186

1,196

WIPRO

411

420

425

433

438

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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