Technical Research | December 28, 2011

Daily Technical Report

Sensex (15874) / NIFTY (4751)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened on a flat note and retested the

20 Day EMA during the initial trade of the session.

However, selling pressure during the second half dragged

indices to close in the negative territory. On the sectoral

front, Realty, Metal and Banking sectors were among the

major losers. The advance to decline ratio was in favor of

declining counters. (A=1177 D=1481).

(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.

• The Daily chart exhibits a “Narrow Range” body

formation.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

As expected and mentioned in our previous report, 16020 -

Resistance levels

4800 - 4820

Support levels

4723 - 4693 - 4665

16070 / 4800 - 4820 levels acted as stiff resistance for the

markets. This resistance zone also coincides with 20 Day

EMA. After a flat opening, indices moved towards this

resistance zone and then corrected to close well below the

20 day EMA. We are now observing a “Narrow Range”

body formation on the Daily chart. This indicates uncertainty

among the bulls and the bears. Thus, if indices sustain

below yesterday’s low of 15799 / 4723, then they are likely

to drift towards 15671 - 15592 / 4693 - 4665 levels.

Conversely, the positive crossover in “RSI - Smoothened” is

still intact. This impact of this crossover would be witnessed

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.

For Private Circulation Only |

Technical Research | December 28, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,658

15,766

15,908

16,016

16,157

NIFTY

4,681

4,716

4,758

4,793

4,835

BANKNIFTY

8,146

8,211

8,288

8,353

8,430

ACC

1,149

1,162

1,171

1,184

1,194

AMBUJACEM

159

161

162

164

166

AXISBANK

820

832

853

865

886

BAJAJ-AUTO

1,587

1,606

1,620

1,640

1,654

BHARTIARTL

336

340

344

347

352

BHEL

233

237

242

246

250

BPCL

493

498

504

510

516

CAIRN

317

320

324

327

331

CIPLA

313

317

322

326

332

DLF

185

188

193

197

202

DRREDDY

1,566

1,573

1,582

1,590

1,599

GAIL

382

389

394

401

406

HCLTECH

386

389

391

394

397

HDFC

658

663

667

672

676

HDFCBANK

432

436

440

444

448

HEROMOTOCO

1,871

1,888

1,912

1,929

1,953

HINDALCO

117

118

120

122

124

HINDUNILVR

412

415

417

420

422

ICICIBANK

715

720

727

733

740

IDFC

100

103

INFY

2,702

2,731

2,765

2,794

2,828

ITC

201

203

204

207

208

JINDALSTEL

481

485

490

495

499

JPASSOCIAT

KOTAKBANK

441

447

456

462

471

1,003

1,016

1,033

1,045

1,062

M&M

684

694

703

712

721

MARUTI

937

950

965

978

993

NTPC

152

155

158

160

164

ONGC

258

261

262

264

266

PNB

797

803

809

815

821

POWERGRID

101

103

RANBAXY

391

401

407

417

423

RCOM

RELCAPITAL

241

247

253

259

265

RELIANCE

732

743

756

766

779

RELINFRA

356

363

371

378

386

RPOWER

SAIL

SBIN

1,613

1,628

1,649

1,664

1,684

SESAGOA

155

159

163

166

170

SIEMENS

637

651

660

675

684

STER

SUNPHARMA

489

494

502

507

515

SUZLON

TATAMOTORS

178

180

183

185

189

TATAPOWER

TATASTEEL

340

344

352

357

364

TCS

1,160

1,170

1,180

1,190

1,200

WIPRO

400

403

408

411

415

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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