Technical Research | March 13, 2012

Daily Technical Report Sensex (17588) / NIFTY (5360)

The week began on an optimistic note in-line with strong cues from other Asian markets but pared early gains to close marginally in the positive territory. On the sectoral front, the Capital Goods, Consumer Durable and Realty sectors were among the major gainers whereas IT and Teck counters ended on a losing side. The advance to decline ratio was in favor of advancing counters. (A=1598 D=1246) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA and 20-day EMA have now shifted to 17164 / 5163 and 17556 / 5330, respectively. The 20-Week EMA is placed at 17120 / 5170 level. The Daily momentum oscillators viz., the RSI and the Stochastic are positively poised. The weekly chart depicts a Bullish Hammer and Bullish Dragon Fly Doji Japanese candlesticks pattern in Sensex and Nifty, respectively.
Source: Falcon

Trading strategy:
Indices opened higher during yesterdays session and initially moved towards the immediate resistance level of 17692 / 5382. There is no significant change in the chart structure and thus we would reiterate that 17692 / 5382 level remains to be a near term resistance for the markets. A move beyond this level on the back of positive global markets may push indices higher to test 18001 18250 / 5459 5538 levels. The immediate support is seen around 17494 17401 / 5327 5291 levels.

Actionable points:
View Expected Targets Support level Bullish Above 5382 5459 5475 5327 5291

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Technical Research | March 13, 2012

Bank Nifty Outlook - (10626)

Yesterday, for the second consecutive session Bank Nifty opened with an upside but lost gains in the latter half of the day. It was seen that the optimism on the back of a 75 bps CRR cut on Friday did not last long and the Index witnessed profit booking. The positive crossover in RSI and Stochastic momentum oscillator mentioned in our previous report is still intact. The impact of the mentioned crossover will come into force only if the index manages to sustain above yesterdays high of 10786. In this case the index is likely to rally towards 10850 11035 levels. On the downside 10543 10391 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 10786 - 10850 10543 10391
Source: Falcon

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Technical Research | March 13, 2012

Positive Bias:
20 Day EMA 104 136 Expected Target 120 158

Stock Name HDIL Exide Ind

CMP 109.3 144.9

5 Day EMA 105.4 139.3

Range Above 110.5 145 141

Remarks View will change below 103 View will change below 138

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Technical Research | March 13, 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 17,341 5,275 10,409 1,284 159 1,187 1,729 332 277 649 362 294 332 195 1,679 347 495 657 506 1,889 130 377 906 142 2,704 203 564 76 549 1,306 646 1,313 167 272 944 109 407 93 770 622 128 93 2,262 191 781 110 567 27 273 103 442 1,161 425 S1 17,464 5,317 10,517 1,303 161 1,206 1,758 336 281 656 367 298 335 200 1,688 351 501 664 512 1,911 134 379 917 145 2,761 205 577 78 555 1,327 655 1,325 170 275 958 110 412 95 785 638 131 95 2,286 195 795 112 572 28 279 105 449 1,175 431 PIVOT 17,618 5,370 10,652 1,314 163 1,232 1,783 340 284 664 373 305 338 205 1,699 353 506 676 523 1,926 136 382 931 148 2,838 208 586 79 563 1,344 670 1,341 173 280 973 111 420 96 794 647 134 96 2,305 201 803 115 576 28 283 108 456 1,197 436 R1 17,742 5,412 10,760 1,333 165 1,251 1,813 344 288 670 378 309 341 209 1,708 357 513 684 530 1,948 140 384 942 151 2,895 209 598 81 570 1,365 679 1,353 175 283 986 112 425 98 808 663 138 98 2,330 205 817 117 580 29 288 110 463 1,211 442 R2 17,896 5,464 10,895 1,344 166 1,276 1,838 348 290 678 384 315 344 214 1,719 359 518 696 541 1,964 142 387 956 154 2,972 212 607 82 577 1,381 694 1,368 178 288 1,001 113 433 99 817 672 140 99 2,349 210 825 119 584 29 293 113 470 1,233 446

Technical Research Team

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Technical Research | March 13, 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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