Technical Research | November 30, 2011

Daily Technical Report

Sensex (16008) / NIFTY (4805)

Exhibit 1: Nifty Daily Chart

Yesterday, our indices opened marginally above Monday’s

high of 16187 / 4859, but failed to sustain at higher levels

and selling pressure lead indices to close just above 4800

mark. On the sectoral front, Realty, Oil & Gas and Banking

counters were among the major losers whereas FMCG

ended with marginal gains. The advance decline ratio was

in favour of declining counters (A=1226 D=1515). (Source

-www.bseindia.com)

Formation

• The Daily chart depicts a Japanese Candle Stick pattern

known as “Dark Cloud Cover”.

• The “20 Days EMA” is placed at 16463 / 4943.

Source: Falcon

Actionable points:

Trading strategy:

Indices opened marginally above the previous resistance

View

Neutral

level of 16187 / 4859 and selling pressure dragged the

Resistance levels

4844 - 4866

indices to test 38.2% Fibonacci retracement level of the

Support level

4787 - 4693

current rally from 15479 - 16210 / 4639 - 4866. On the

Daily chart, we are witnessing a Japanese Candle Stick

pattern which resembles “Dark Cloud Cover”. This pattern

needs conformation in the form of a close below 15953 /

4787. Going forward, if indices trades convincingly below

yesterday’s low of 15953 / 4787, then markets may test

15888 - 15645 / 4766 - 4693 levels. On the upside

16135 - 16210 / 4844 - 4866 levels may act as resistance

for the day. The said reversal pattern will be negated only if

indices close above yesterday’s high of 16210 / 4866.

For Private Circulation Only |

Technical Research | November 30, 2011

Bank Nifty Outlook - (8624)

Exhibit 2: Bank Nifty Daily Chart

Bank nifty opened on a flat note and traded in a narrow

range during first half of the session. However, during the

second half, selling pressure dominated near the

mentioned resistance level of 8880 which led the index to

close in the negative territory. We are now observing a

negative cross over in momentum oscillator “RSI-

Smoothened” on the hourly chart, which indicates

bearishness. Therefore, if Bank Nifty sustains below

yesterday’s low of 8587, then it is likely to test 8470 -

8369 levels. On the Upside, 8685 - 8745 levels may act

as resistance levels for the day.

Actionable points:

View

Bearish

Negative below

8587

Expected target

8470 - 8369

Resistance levels

8685 - 8745

Source: Falcon

For Private Circulation Only |

Technical Research | November 30, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,799

15,904

16,057

16,162

16,315

NIFTY

4,740

4,773

4,819

4,852

4,898

BANKNIFTY

8,429

8,526

8,685

8,783

8,942

ACC

1,123

1,142

1,167

1,186

1,211

AMBUJACEM

141

144

148

151

155

AXISBANK

944

960

981

997

1,017

BAJAJ-AUTO

1,585

1,617

1,637

1,669

1,688

BHARTIARTL

354

364

378

388

402

BHEL

274

278

283

288

293

BPCL

516

522

531

537

546

CAIRN

293

298

303

308

312

CIPLA

323

325

327

329

332

DLF

195

199

205

209

215

DRREDDY

1,532

1,563

1,584

1,615

1,635

GAIL

381

385

389

394

398

HCLTECH

380

386

390

395

400

HDFC

622

629

639

645

655

HDFCBANK

424

430

438

443

451

HEROMOTOCO

1,955

2,008

2,044

2,096

2,132

HINDALCO

119

121

123

124

126

HINDUNILVR

379

384

387

391

395

ICICIBANK

704

719

738

752

771

IDFC

106

108

112

114

118

INFY

2,556

2,577

2,602

2,624

2,649

ITC

194

196

197

199

200

JINDALSTEL

466

479

497

509

527

JPASSOCIAT

KOTAKBANK

439

447

460

468

481

1,244

1,260

1,275

1,292

1,306

M&M

700

713

721

734

743

MARUTI

936

947

964

976

992

NTPC

156

157

159

160

162

ONGC

252

255

259

263

267

PNB

855

873

900

918

944

POWERGRID

RANBAXY

440

446

455

461

470

RCOM

RELCAPITAL

275

281

288

294

302

RELIANCE

746

755

769

778

792

RELINFRA

400

405

410

415

420

RPOWER

SAIL

SBIN

1,719

1,740

1,768

1,790

1,818

SESAGOA

174

177

180

184

187

SIEMENS

679

688

700

709

721

STER

101

103

105

107

SUNPHARMA

500

505

511

516

522

SUZLON

TATAMOTORS

172

175

178

181

184

TATAPOWER

TATASTEEL

376

382

390

395

404

TCS

1,075

1,084

1,095

1,104

1,115

WIPRO

368

371

373

376

379

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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