Technical Research | April 25, 2012

Daily Technical Report Sensex (17207) / NIFTY (5223)

Yesterday, our benchmark indices opened on a flat note and traded with choppiness throughout the day. A minor bounce towards the latter part of the session led indices to close near days high. On sectoral front, IT and TECK counters were among the major gainers, whereas Consumer Goods counter ended with a marginal loss. The advance to decline ratio was in marginally favour of declining counters (A=1330 D=1398) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 17050 / 5135 and 17400 / 5300, respectively. The 20-Week EMA is placed at 17200 / 5180 level.
Source: Falcon

Actionable points: Trading strategy:

Yesterday, we witnessed a flat opening in-line with global cues. Subsequently, indices moved in a very narrow range of 17047 17247 / 5180 - 5232. Going forward, we reiterate our view that 17047 / 5180 levels are likely to provide decent support for the market. Only a fall below these levels on the back of strong volumes may reinforce negative momentum and indices then may slide to test 16920 / 5135 level. On the upside, Monday's high of 17445 / 5311 may act as immediate resistance for the markets. A move beyond this may push indices higher to test 17664 / 5380 levels. View Resistance level Support Levels Neutral 5232 5311 5180 5135

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Technical Research | April 25, 2012

Bank Nifty Outlook - (10215)

Yesterday, Bank Nifty opened on a flat note traded in a narrow range throughout the session. The index tested the mentioned support level of 10150 and bounced back. The negative crossover in RSI - Smoothened momentum oscillator on the daily chart mentioned in our previous report is still intact. On the contrary, the momentum oscillator RSI - Smoothened on the hourly chart is placed in an extreme oversold condition and possibility of a bounce back cannot be ruled out. The trading range of 10600 10150 mentioned in our previous reports is still intact. On the upside 10325 10375 level is likely to act as resistance in coming trading session. On the downside support is likely act 10125 - 10060. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10325 10375 10125 - 10060
Source: Falcon

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Technical Research | April 25, 2012

Positive Bias:
Positive Above 403 Expected Target 425

Stock Name APIL

CMP 395.7

5 Day EMA 388.9

20 Day EMA 374.3

Remarks View will change below 382

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Technical Research | April 25, 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 16,966 5,160 10,082 1,172 143 1,062 1,606 281 230 658 335 309 347 180 1,732 338 488 675 535 2,093 117 413 831 121 2,138 235 461 72 549 1,187 691 1,337 163 262 860 108 512 77 716 515 106 93 2,153 175 780 102 584 22 307 101 455 1,084 419 S1 17,087 5,191 10,149 1,193 147 1,088 1,627 294 234 673 338 311 351 183 1,748 342 499 679 539 2,142 119 417 840 124 2,244 240 470 74 559 1,203 704 1,350 165 265 872 109 518 79 726 525 107 97 2,172 179 788 104 590 22 309 103 462 1,139 421 PIVOT 17,167 5,212 10,218 1,224 153 1,115 1,656 302 237 687 342 315 358 187 1,772 350 509 684 543 2,178 121 420 847 126 2,304 243 480 75 574 1,231 712 1,363 167 268 884 110 523 80 733 532 109 99 2,194 182 797 105 597 23 312 104 468 1,172 424 R1 17,288 5,243 10,285 1,245 157 1,141 1,677 315 241 702 345 317 362 190 1,788 354 520 688 546 2,227 122 424 855 129 2,410 248 489 76 584 1,247 725 1,377 169 271 896 111 530 82 743 542 111 103 2,213 185 805 107 603 23 314 106 476 1,227 427 R2 17,368 5,264 10,354 1,276 163 1,168 1,706 323 244 716 349 321 368 193 1,812 362 531 692 550 2,262 124 427 862 132 2,471 251 499 78 599 1,275 733 1,390 170 273 908 113 534 84 750 549 112 105 2,234 188 813 108 611 24 317 107 481 1,260 429

Technical Research Team

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Technical Research | April 25, 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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