Technical Research | March 01, 2012

Daily Technical Report Sensex (17753) / NIFTY (5385)

Yesterday, markets opened with a significant upside gap and continued to move higher during the first half to test mentioned resistance at 17975 - 5450. Post mid-session, strong selling pressure eventually dragged indices lower to close with nominal gains. On the sectoral front, Oil & Gas, PSU and Metal counters were among the major gainers, whereas Capital Goods and FMCG sectors ended with a on a losing side. The advance to decline ratio was in favor of advancing counters. (A=1581 D=1311) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA and 20-day EMA have now shifted to 17200 / 5170 and 17720 / 5370, respectively. The weekly Stochastic oscillator is negatively poised.
Source: Falcon

Trading strategy:
After a strong bounce back on Tuesdays session, we witnessed a gap up opening during yesterdays session. Subsequently, indices moved higher during the initial trade to test Tuesdays high of 17975 / 5450. Looking at the global indices and the charts of the dollar index it is likely that our markets may open lower. Going forward, if indices sustain below yesterdays low of 17677 / 5352, then they are likely to drift towards the next support levels of 17530 17381 / 5306 5268. Conversely, yesterdays high of 18001 / 5459 is likely to act as a resistance in coming trading session. A move beyond this may push indices higher to test 18200 / 5520 level.

Actionable points:
View Expected targets Resistance levels Negative below 5352 5306 - 5268 5459

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Technical Research | March 01, 2012

Bank Nifty Outlook - (10414)

Yesterday, Bank Nifty opened with an upside gap and traded with extreme volatility throughout the day. We are now witnessing a positive crossover in stochastic momentum oscillator on the daily chart. However, on the contrary on hourly chart we are witnessing a negative crossover in 5 & 20 EMA. Looking at the mixed signals on hourly and daily charts we are of the opinion that the index is likely to be in the range of 10800 10200. Only a sustainable move outside the said range will dictate a clear direction of the trend. In such a scenario index is likely to find resistance at 10667 10800 levels. On the downside 10200 10073 levels are likely to act as support in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10667 - 10800 10200 - 10073
Source: Falcon

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Technical Research | March 01, 2012

Positive Bias:
Expected Target 3230

Stock Name TTK Prestige

CMP 2976.7

5 Day EMA 2901.5

20 Day EMA 2828.2

Remarks View will change below 2880

Negative Bias:
Expected Target 539

Stock Name United Spirits

CMP 572.6

5 Day EMA 591.3

20 Day EMA 629.7

Remarks View will change above 602

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Technical Research | March 01, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,487 5,292 10,148 1,279 154 1,133 1,738 340 292 648 359 310 329 219 1,601 366 480 649 497 1,879 142 374 884 135 2,841 203 549 71 527 1,246 677 1,226 178 288 924 111 414 89 794 558 112 99 2,189 203 769 120 534 25 261 110 453 1,197 415 S1 17,620 5,339 10,281 1,293 157 1,155 1,770 345 300 655 364 313 332 223 1,622 370 483 656 507 1,912 145 377 895 138 2,862 205 566 73 537 1,277 693 1,241 179 290 939 112 421 92 807 576 116 101 2,218 209 783 122 542 26 266 113 463 1,209 424 PIVOT 17,811 5,399 10,474 1,306 162 1,183 1,807 349 312 662 367 320 334 228 1,641 375 484 668 523 1,964 148 382 909 142 2,885 209 589 76 552 1,328 706 1,266 181 294 960 113 431 94 818 601 120 103 2,253 212 803 124 554 27 272 115 469 1,225 430 R1 17,943 5,445 10,607 1,320 166 1,205 1,838 354 319 670 373 323 336 232 1,662 379 487 675 534 1,997 152 385 920 145 2,906 212 606 78 562 1,359 722 1,280 183 297 975 114 438 97 831 619 123 105 2,282 218 817 126 562 27 277 117 479 1,237 439 R2 18,134 5,505 10,801 1,333 171 1,232 1,875 358 331 677 376 330 338 237 1,681 384 488 686 550 2,049 155 390 933 148 2,929 215 629 80 576 1,410 734 1,306 185 301 996 115 447 100 841 643 127 106 2,317 221 837 128 574 28 284 120 485 1,252 445

Technical Research Team

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Technical Research | March 01, 2012 Technical Report

RESEARCH TEAM
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head - Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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