Technical Research | November 2, 2011

Daily Technical Report

Sensex (17481) / NIFTY (5258)
Yesterday, indices opened lower in-line with weak global cues and continued to remain under pressure as the day progressed. Due to continuous selling pressure indices then drifted towards the support level of 17350 / 5219. On the sector front, Realty, Auto and Banking counters were among the major loosers. There was no sector in the positive territory. The advance decline ratio was strongly in favor of declining counters (A=1177 D=1609).
(Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The Daily 200 SMA is placed at the 18020 / 5410 level. We are witnessing a downside gap area of 17671 to
Source: Falcon

17350 / 5322 to 5219 created on October 28, 2011.

Trading strategy:
We witnessed a pessimistic opening in yesterdays session mainly due to negativity across global indices. As expected, we witnessed a corrective movement after the violation of Mondays low of 17668 / 5314 level. Subsequently, markets drifted lower to fill the gap area of 17671 to 17350 / 5322 to 5219 created on October 28, 2011. Going forward, 17350 / 5219 remains to be a decent support for the market. A move below this support level may intensify further selling pressure which may drag indices lower to test 17273 17188 / 5196 5160 levels. On the upside, 17540 17671 / 5275 5322 levels may act as resistance in coming trading session.

Actionable points:
View Resistance Levels Support Levels Neutral 5275 - 5322 5219 - 5160

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Technical Research | November 2, 2011

Bank Nifty Outlook - (9822)

Bank nifty opened lower in-line with our benchmark indices and traded in a narrow range during the initial hours of the trade. However, during the latter part of the session, the index slipped marginally below mentioned support level of 9826. Going forward, if Bank Nifty sustains below yesterdays low of 9783 then it is likely to test 9607 9500 levels which is a multiple support zone. On the upside, 10080 level may act as a resistance for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points: View Resistance Level Support Level

Neutral

10080 9607 9500

Source: Falcon

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Technical Research | November 2, 2011

Positive Bias: Stock Name Auro Pharma Techm 5 Day EMA 127.5 582.4 20 Day EMA 127 583 Expected Target 137.4 610 Remarks View will change below 125.5 View will change below 571

Negative Bias:

Stock Name Mcdowells Bombay Dyeing

5 Day EMA 855 424.4

20 Day EMA 851.5 399.5

Expected Target 820 400

Remarks View will change above 865 View will change above 437

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Technical Research | November 2, 2011

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 17,282 5,196 9,661 1,143 147 1,115 1,659 383 313 608 290 282 231 1,565 416 414 676 472 2,092 132 362 873 129 2,787 205 537 73 488 1,370 812 1,101 174 273 942 102 494 75 342 845 424 92 108 1,868 202 822 120 491 36 185 98 458 1,082 361 S1 17,382 5,227 9,742 1,164 151 1,125 1,686 389 316 619 295 286 234 1,588 420 422 680 477 2,115 134 375 884 130 2,812 207 546 74 496 1,380 823 1,117 176 275 977 103 500 76 352 853 435 94 109 1,885 205 833 122 499 37 189 100 465 1,095 366 PIVOT 17,522 5,269 9,863 1,186 154 1,141 1,718 392 319 625 300 291 238 1,622 423 435 684 485 2,145 136 384 904 132 2,843 210 555 76 506 1,388 843 1,129 178 278 1,004 104 504 78 363 866 452 95 111 1,903 207 849 123 507 38 196 101 473 1,109 371 R1 17,621 5,300 9,944 1,207 158 1,151 1,745 398 322 635 305 294 241 1,645 427 444 688 490 2,168 138 397 915 133 2,868 211 565 78 514 1,398 854 1,145 180 281 1,039 105 509 80 372 874 463 96 113 1,920 210 860 125 515 38 200 102 480 1,122 376 R2 17,761 5,342 10,065 1,230 161 1,167 1,777 402 325 642 310 299 245 1,680 430 457 691 498 2,198 140 406 935 135 2,899 214 574 79 524 1,406 874 1,156 182 283 1,066 106 513 82 383 886 479 97 114 1,938 212 876 127 523 39 207 103 488 1,136 381

Technical Research Team

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Technical Research |Technical Report November 2, 2011

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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