Technical Research | November 29, 2011

Daily Technical Report

Sensex (16167) / NIFTY (4851)

Exhibit 1: Nifty Daily Chart

Yesterday, Benchmark indices opened on an optimistic note

in-line with strong positive cues from other Asian markets.

On the sectoral front, Metal, Banking and Oil & Gas

counters contributed heavily in yesterday’s rally and markets

closed well above the immediate resistance level of 15970 /

4780. There was no sector on losing side. The advance

decline ratio was strongly in favour of advancing counters

(A=1793 D=946). (Source -www.bseindia.com)

Formation

• On the Daily chart, the momentum oscillator viz. the RSI

has given a positive crossover.

Source: Falcon

• The “20 Days EMA” is placed at 16510 / 4960.

• Volumes in yesterday’s session were significantly lower

Actionable points:

than average traded volumes (NSE Cash segment) in the

past few sessions.

View

Neutral

Resistance levels

4859 - 4930

Support level

4766

Trading strategy:

Indices opened significantly higher and crossed immediate

resistance level of 15970 / 4780 during the initial hour of

the trade. After crossing 15970 / 4780 level, indices moved

towards the mentioned resistance level of 16213 / 4854

and closed marginally below this level. We are now

witnessing a positive crossover in “RSI” momentum

oscillator on the Daily chart. Therefore, going forward, if

indices manage to sustain above yesterday’s high of 16187

/ 4859 and volumes in cash segment increase with increase

in prices, then markets are likely to rally towards the next

resistance level of 16400 / 4930 which is the

38.2%

Fibonacci retracement level of the fall from 17908 to

15478 / 5400 to 4639. Moreover, the daily “20 EMA” is

placed around 16510 / 4960 level. Hence, 16400 - 16510

/ 4930 - 4960 levels are likely to act as a strong resistance

zone in coming trading sessions. On the downside, the

support is seen at 15888 / 4766 level.

For Private Circulation Only |

Technical Research | November 29, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,782

15,975

16,081

16,273

16,379

NIFTY

4,733

4,792

4,826

4,885

4,918

BANKNIFTY

8,523

8,658

8,734

8,869

8,945

ACC

1,100

1,146

1,173

1,219

1,245

AMBUJACEM

144

147

149

152

154

AXISBANK

965

978

988

1,001

1,010

BAJAJ-AUTO

1,558

1,588

1,627

1,657

1,697

BHARTIARTL

373

380

385

392

397

BHEL

272

277

280

285

289

BPCL

499

517

529

548

560

CAIRN

299

302

305

308

311

CIPLA

314

320

322

327

330

DLF

205

207

210

212

214

DRREDDY

1,529

1,540

1,553

1,564

1,576

GAIL

378

383

389

394

400

HCLTECH

377

384

390

397

403

HDFC

607

627

638

658

669

HDFCBANK

429

435

440

446

451

HEROMOTOCO

1,988

2,011

2,047

2,069

2,105

HINDALCO

112

118

122

128

132

HINDUNILVR

374

378

381

385

388

ICICIBANK

718

734

744

760

770

IDFC

105

109

112

116

118

INFY

2,595

2,616

2,633

2,653

2,670

ITC

191

193

196

199

202

JINDALSTEL

485

496

505

517

526

JPASSOCIAT

KOTAKBANK

440

454

464

479

489

1,243

1,261

1,279

1,297

1,314

M&M

692

703

713

724

734

MARUTI

941

953

970

982

999

NTPC

156

158

159

161

163

ONGC

249

255

259

265

269

PNB

857

889

912

944

968

POWERGRID

RANBAXY

436

443

448

455

460

RCOM

RELCAPITAL

275

280

284

290

294

RELIANCE

754

769

777

792

801

RELINFRA

396

402

407

412

417

RPOWER

SAIL

SBIN

1,683

1,731

1,760

1,808

1,836

SESAGOA

171

176

179

184

187

SIEMENS

664

685

701

722

738

STER

101

103

104

106

107

SUNPHARMA

479

496

507

524

535

SUZLON

TATAMOTORS

170

176

180

185

189

TATAPOWER

TATASTEEL

374

380

385

391

396

TCS

1,064

1,076

1,086

1,098

1,108

WIPRO

365

369

373

376

380

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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