Technical Research | December 30, 2011

Daily Technical Report

Sensex (15544) / NIFTY (4646)

Exhibit 1: Nifty Daily Chart

Markets opened on a pessimistic note in-line with global

cues, traded with extreme volatility during the first half and

drifted lower during the last hour of the trade to close well

in the negative territory. On the sectoral front, Oil & Gas,

Capital Goods and Realty sectors were among the major

losers, whereas Metal and Health Care counters ended with

a nominal gain. The advance to decline ratio was strongly

in favor of declining counters. (A=1154 D=1525). (Source

-www.bseindia.com)

Formation

• The 20 EMA on the daily chart is placed at 16020 /

4800 level.

• Markets have closed near 61.8% Fibonacci Retracement

level of the rise from 15135 to 16049 / 4531 to 4801

levels.

Source: Falcon

Actionable points:

Trading strategy:

View

Neutral

Yesterday, markets opened lower and traded with immense

Resistance levels

4702 - 4756

volatility mainly due to the expiry of derivative contracts for

Support levels

4632 - 4590 - 4531

the month of December. A sharp down move towards the

end of the session dragged indices lower to test mentioned

support level of 15472 / 4632. This level nearly coincides

with the 61.8% Fibonacci Retracement level of the rise from

15135 to 16049 / 4531 to 4801 levels. Considering the

optimism in Global markets, it is likely that our markets too

may open on a positive note. On the upside, yesterday’s

high of 15725 / 4702 is likely to act as a resistance in

coming trading session. A sustainable move above this

mark may push indices higher to test 15887 - 16020 /

4756 - 4800 levels. However, if indices manage to sustain

below the above mentioned Fibonacci retracement support

level then they are likely to fall further towards 15333 -

15135 / 4590 - 4531 levels.

For Private Circulation Only |

Technical Research | December 30, 2011

Bank Nifty Outlook - (8027)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, we witnessed a volatile trading session in Bank

Nifty where the index tested both, the mentioned support

(8028) as well as resistance (8150) levels in the initial

hour of trade. However, selling pressure intensified

during the final hour of trade and Bank Nifty made a

fresh low of 7986. On the upside, Bank Nifty is now likely

to face resistance near 8090 - 8150 levels. Once above

these resistance levels, it may shoot up higher to the 8220

mark. On the flip side, the negative crossover in

“Stochastic” and “RSI” momentum oscillator on the daily

chart is still intact. Thus a fall below yesterday’s low of

7986 would increase momentum on the downside and

the index may fall further towards 7936.

Actionable points:

View

Neutral

Resistance Level

8090 - 8150 - 8220

Support Level

7986 - 7936

Source: Falcon

For Private Circulation Only |

Technical Research | December 30, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,385

15,465

15,595

15,674

15,804

NIFTY

4,600

4,623

4,662

4,686

4,725

BANKNIFTY

7,900

7,964

8,051

8,114

8,201

ACC

1,134

1,143

1,154

1,163

1,174

AMBUJACEM

153

155

158

161

164

AXISBANK

791

803

820

833

850

BAJAJ-AUTO

1,585

1,594

1,603

1,612

1,621

BHARTIARTL

328

335

343

349

357

BHEL

223

230

239

245

254

BPCL

459

469

485

495

511

CAIRN

293

299

307

312

320

CIPLA

317

319

322

324

327

DLF

180

183

189

192

197

DRREDDY

1,550

1,560

1,571

1,581

1,593

GAIL

366

374

385

393

404

HCLTECH

373

380

390

397

407

HDFC

649

653

658

662

668

HDFCBANK

417

423

433

439

449

HEROMOTOCO

1,879

1,892

1,906

1,918

1,932

HINDALCO

113

115

117

119

121

HINDUNILVR

403

409

413

418

422

ICICIBANK

664

675

688

699

712

IDFC

INFY

2,706

2,724

2,749

2,768

2,793

ITC

198

199

201

203

205

JINDALSTEL

425

444

455

474

485

JPASSOCIAT

KOTAKBANK

434

440

448

454

461

973

986

1,007

1,020

1,041

M&M

667

677

687

696

706

MARUTI

888

905

932

949

976

NTPC

157

159

160

162

163

ONGC

252

255

259

262

266

PNB

739

760

774

795

809

POWERGRID

100

101

RANBAXY

391

398

403

410

415

RCOM

RELCAPITAL

231

234

240

244

249

RELIANCE

688

700

719

732

751

RELINFRA

331

337

349

356

367

RPOWER

SAIL

SBIN

1,572

1,600

1,619

1,647

1,666

SESAGOA

155

157

160

163

165

SIEMENS

619

629

642

652

666

STER

SUNPHARMA

488

492

497

501

505

SUZLON

TATAMOTORS

176

177

180

182

184

TATAPOWER

TATASTEEL

336

339

344

347

352

TCS

1,149

1,157

1,168

1,176

1,186

WIPRO

392

395

398

401

404

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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