Technical Research | April 03, 2012

Daily Technical Report Sensex (17478) / NIFTY (5318)

Yesterday, indices opened marginally higher and but traded with thin volumes throughout the trading session to close marginally above the 5300 mark. On sectoral front, Consumer Durables, Power and Capital Goods counters were among the major gainers, whereas Oil & Gas and Metal ended with a nominal loss. The advance to decline ratio was strongly in favor of advancing counters (A=1932 D=849) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA (Simple Moving Average) and 20day EMA (Exponential Moving Average) have now shifted to 17100 / 5150 and 17380 / 5284, respectively. The 20-Week EMA is placed at 17200 / 5200 level. We are witnessing a Downward Sloping Trend Line

resistance around 17630 / 5365 level. The daily RSI-Smoothened momentum oscillator has
Source: Falcon

given a positive crossover.

Trading strategy:
As expected, the week began on a positive note and indices managed to hold on to their initial opening gains. This has resulted in a daily closing well above the 20 day EMA, which shows optimism amongst market participants. We are also now observing a positive crossover in RSISmoothened oscillator. Considering the global cues, it is likely that our markets will open on a positive note. Thus if Indices sustain above yesterdays high of 17530 / 5332 they are likely to rally further towards 17630 17700 / 5365 5400 levels. On the downside, 17382 17250 / 5278 5250 levels should ideally provide decent support for the markets in coming trading session.

Actionable points:
View Expected Targets Support Levels Bullish Above 5332 5365 5400 5278 5250

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Technical Research | April 03, 2012

Bank Nifty Outlook - (10305)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range to close near the highest point of the day. The positive crossover in RSI and Stochastic momentum oscillator on the daily chart mentioned in our previous report is still intact. Thus we expect the positive momentum to continue in the coming session and index is likely to test 10425 - 10580 levels. On the downside only a move below 10210 will signal a fall in positive momentum. In this case the Bank Nifty is then likely to drift towards 10130 10080 levels. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Support Levels Bullish Above 10322 10425 10580 10210 10130 10080

Source: Falcon

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Technical Research | April 03, 2012

Positive Bias:
Positive Above 201 103 Expected Target 210 111

Stock Name Educomp Vip Inds

CMP 199.5 102.5

5 Day EMA 195 100

20 Day EMA 198 102

Remarks View will change below 192.5 View will change below 98

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Technical Research | April 03, 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 17,316 5,257 10,129 1,313 166 1,112 1,603 335 251 671 325 302 332 196 1,707 368 467 668 511 2,016 124 401 876 133 2,812 224 532 80 540 1,282 692 1,313 161 262 911 107 444 83 732 575 116 94 2,084 189 257 108 555 25 273 98 462 1,159 433 S1 17,397 5,287 10,217 1,327 169 1,133 1,629 338 256 679 333 305 336 202 1,723 373 484 676 520 2,037 126 404 883 134 2,831 226 537 82 548 1,307 701 1,326 164 266 920 108 451 84 736 594 119 95 2,107 191 515 109 564 25 275 99 467 1,177 438 PIVOT 17,464 5,309 10,269 1,349 171 1,147 1,662 340 259 689 338 308 340 206 1,748 377 495 680 525 2,055 128 406 888 135 2,860 227 546 84 554 1,322 708 1,345 166 269 931 109 461 85 743 606 121 96 2,123 193 257 110 571 26 278 101 472 1,188 441 R1 17,545 5,340 10,358 1,364 174 1,169 1,689 343 264 697 346 311 345 212 1,764 381 512 688 534 2,076 130 408 895 136 2,879 228 551 86 562 1,347 717 1,358 169 273 940 109 469 86 748 625 124 97 2,146 195 515 111 580 26 279 102 477 1,206 446 R2 17,611 5,362 10,410 1,386 176 1,183 1,722 345 267 707 351 314 348 216 1,790 386 522 692 539 2,093 132 411 900 138 2,908 230 560 88 568 1,362 723 1,377 171 276 951 110 478 87 755 636 126 98 2,162 198 257 113 587 27 282 103 482 1,217 449

Technical Research Team

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Technical Research | April 03, 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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