Technical Research | January 09, 2012

Daily Technical Report

Sensex (15849) / NIFTY (4747)
Exhibit 1: Nifty Daily Chart

On Friday, indices opened on a flat note and traded with immense volatility throughout the day. After making one more attempt of crossing 16070 / 4820 level, indices finally closed around 15900 / 4750 mark. On the sectoral front, Oil & Gas, PSU and Banking sectors were among the major gainers. The advance to decline ratio was in favor of gaining counters. (A=1570 D=652). (Source www.bseindia.com)

Formation:
The 20 day EMA (Exponential Moving Average) has now shifted to the 15846 / 4745 level. We are witnessing a positive crossover in weekly

momentum oscillators viz., the RSI and the Stochastic. On the Daily chart, we are observing a Downward
Source: Falcon

Sloping Trend Line resistance around 16070 / 4820 level.

Trading strategy:
Indices have moved in a narrow range after taking support around the mentioned levels of 15331 / 4589. Buying interest was seen on Fridays session as indices moved sharply from days low and made one more attempt to cross the 16070 / 4820 levels. However, markets finally closed around the 15900 / 4750 mark. We are now witnessing a positive crossover in RSI and Stochastic oscillators. Also, indices have been consistently closing above the 20 day - EMA since the past few trading sessions, which indicate possibility of a strong positive momentum if indices manage to sustain above 16070 / 4820. This level is also coinciding with a Downward Sloping Trend Line resistance.

Actionable points:
View Expected Targets Support level Positive Above 4820 4881 4920 4686

Therefore, we reiterate that if indices manage to sustain above 16070 / 4820, then they are likely to head towards 16286 - 16421/ 4881 - 4920 levels. A move beyond 16421 / 4920 may push indices higher to test the next resistance levels of 16600 - 17004 / 4976 - 5100. On the downside, 15358 - 15135 / 4588 - 4531 remains to be a strong support level.

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Technical Research | January 09, 2012

Bank Nifty Outlook - (8453)

On Fridays session, Bank Nifty opened on flat note and traded with extreme volatility throughout the session. The index took support near the 20 SMA and bounced back sharply to test the mentioned resistance zone of 8580 8604. We reiterate our view, that only a sustainable move above this resistance zone will lead the index higher. In this case, if Bank Nifty sustains above 8604 level then it is likely to test 8697 8800 levels. On the downside, 8339 - 8297 levels are likely to act as support in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Target Support Levels
Positive Above 8604

8697 - 8800 8339 - 8297

Source: Falcon

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Technical Research | January 09, 2012

Positive Bias:

Stock Name Siemens Reliance Cap

CMP 668.5 261.9

5 Day EMA 663.4 253.7

20 Day EMA 666.5 256.1

Expected Target 700 290

Remarks View will change below 640 View will change below 241

Negative Bias:

Stock Name Cairn India

CMP 338.2

5 Day EMA 333.6

20 Day EMA 321.1

Expected Target 320

Remarks View will change above 346

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Technical Research | January 09, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA 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 RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 15,796 4,733 8,413 1,089 151 845 1,430 328 246 469 335 333 174 1,597 376 411 664 448 1,708 117 393 740 97 2,815 201 454 51 445 1,075 648 934 156 255 807 99 432 75 251 710 365 72 83 1,650 164 657 93 496 18 202 91 360 1,165 404 S1 15,823 4,740 8,433 1,095 152 848 1,439 329 248 473 337 334 175 1,601 380 413 666 450 1,719 117 394 743 97 2,825 201 461 51 448 1,079 651 944 157 256 811 100 436 77 257 712 371 73 84 1,659 165 663 94 498 18 203 91 361 1,169 406 PIVOT 15,861 4,750 8,457 1,104 153 852 1,454 331 251 475 338 337 177 1,606 382 416 670 451 1,733 118 396 746 98 2,838 202 465 52 451 1,084 655 951 157 256 816 100 439 77 261 716 376 74 84 1,672 165 668 94 500 18 203 92 363 1,174 407 R1 15,888 4,757 8,477 1,111 154 856 1,463 332 253 479 340 338 178 1,611 386 419 672 453 1,744 119 397 748 98 2,848 202 471 52 454 1,088 658 961 158 257 820 100 443 79 266 718 382 75 85 1,682 166 673 95 502 19 204 93 364 1,178 408 R2 15,926 4,766 8,501 1,120 155 859 1,478 334 255 481 341 341 179 1,616 388 422 676 455 1,758 119 399 751 99 2,862 203 475 53 457 1,093 663 968 158 258 826 101 446 80 270 721 387 75 86 1,694 167 678 96 504 19 205 94 366 1,183 410

Technical Research Team

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Technical ResearchTechnical09, 2012 | January 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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