Technical Research | February 01, 2012

Daily Technical Report Sensex (17194) / NIFTY (5199)

Yesterday, unexpectedly our benchmark indices opened significantly higher in-line with strong cues from other Asian markets. This positive momentum stayed throughout the day to close almost at the highest point of the day. On the sectoral front, Banking, Realty and Auto counters contributed heavily in yesterdays strong up move. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of advancing counters. (A=1804 D=1034) (Source -www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA is placed at 17332 / 5202 level. The negative crossover in RSI momentum oscillator is

still intact. The 20-day EMA is placed around 16493 / 4964.

Source: Falcon

Trading strategy:
Markets opened on an optimistic note mainly due to strong global cues and traded with positive bias as rupee continued to appreciate till the end of the session. As a result, indices closed almost at the highest point of the day. Going forward, if indices manage to sustain above 17384 / 5220 level, then they are likely to rally towards the next resistance zone of 17702 17908 / 5326 5400. On the other hand, 16965 / 5120 level may act as support in coming trading sessions. Traders are advised to adopt stock specific approach and follow strict stop losses.

Actionable points:
View Resistance levels Support level Neutral 5220 5326 5120

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Technical Research | February 01, 2012

Bank Nifty Outlook - (9919)

In yesterdays session, Bank Nifty opened on an optimistic note in line with our benchmark indices and gained strength as the day progressed to close near the highest point of the day. Positive results from ICICI BANK provided further fillip and the index surged even higher. Bank Nifty is now very near to its resistance zone of 9970 10080. Hence we expect some consolidation or minor correction as the index approaches these levels. On the downside 9703 9625 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 9970 10080 9703 9625
Source: Falcon

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Technical Research | February 01, 2012

Positive Bias:
Expected Target 235 95

Stock Name Indian Bank Hexaware

CMP 220.80 84.75

5 Day EMA 216.2 82.5

20 Day EMA 204.1 81.3

Remarks View will change below 215.95 View will change below 80.45

Negative Bias:
Expected Target 1100

Stock Name Maruti

CMP 1186.7

5 Day EMA 1179.3

20 Day EMA 1091.6

Remarks View will change above 1226

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Technical Research | February 01, 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 16,878 5,083 9,510 1,166 157 1,008 1,503 348 237 551 329 334 315 202 1,627 366 426 685 474 1,790 131 369 841 123 2,687 200 531 63 471 1,260 657 1,146 168 271 886 100 441 91 794 501 93 98 1,988 195 694 110 528 26 231 101 424 1,104 408 S1 17,036 5,141 9,715 1,180 159 1,041 1,552 357 244 562 334 342 321 209 1,658 369 432 691 483 1,826 139 374 872 128 2,716 202 536 66 485 1,286 666 1,166 170 273 913 102 445 95 805 518 97 100 2,025 207 712 113 538 27 237 103 437 1,118 411 PIVOT 17,123 5,178 9,831 1,191 161 1,065 1,581 364 248 572 340 348 329 213 1,682 372 436 697 489 1,848 144 379 889 131 2,736 203 542 68 492 1,303 672 1,188 171 277 948 104 451 98 813 529 100 101 2,049 213 728 115 545 28 241 104 445 1,127 413 R1 17,281 5,236 10,035 1,204 163 1,098 1,630 372 254 582 345 355 335 220 1,713 376 441 703 498 1,884 152 384 920 136 2,765 205 547 72 506 1,329 681 1,209 173 280 976 105 455 102 825 547 104 103 2,086 224 746 118 555 29 248 105 459 1,141 416 R2 17,368 5,274 10,151 1,215 165 1,122 1,659 379 258 592 351 361 343 224 1,737 379 445 709 504 1,906 157 389 937 140 2,784 207 552 74 514 1,346 687 1,230 175 284 1,010 107 461 104 833 557 107 105 2,110 230 762 119 562 29 252 106 467 1,150 419

Technical Research Team

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Technical Research |Technical01, 2012 February 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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