Technical Research | November 1, 2011

Daily Technical Report

Sensex (17705) / NIFTY (5327)
We witnessed a flat opening in yesterdays session and then indices moved in a narrow range to close marginally above the support level of 17671 / 5322. On the sector front, Oil & Gas and Metal counters were among the major losers whereas FMCG and Banking counters ended on a positive note. The advance decline ratio was marginally in favor of advancing counters (A=1485 D=1351).
(Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
On the Weekly chart, the Downward Sloping Trend Line is placed around the 18150 / 5475 level. 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:
In our earlier report, we had stated that the Narrow range body formation on the Daily chart indicates possibility of a consolidation or a minor pull back. As expected, yesterday indices traded in a narrow range throughout the session and closed marginally above the support level of 17671 / 5322. We reiterate our view that indices may face supply pressure near 18020 18150 / 5410 5475 levels. Considering the Global clues today morning, it is likely that our indices open in the red. Thus, a sustainable move below yesterdays low of 17668 / 5314 level may result in a minor correction to fill the gap area of 17671 to 17350 / 5322 to 5219 created on October 28, 2011.

Actionable points:
View Resistance Levels Support Levels Neutral 5410 5475 5314 5219

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Technical Research | November 1, 2011

Bank Nifty Outlook - (9990)

Yesterday, Bank nifty managed to cross the mentioned resistance level of 9970 10030 during the day trade, but failed to give a close above the second resistance level. We are observing a trend line breakout on daily chart, but the candle formed is a Spinning Top which indicates indecisiveness at current levels. Therefore, only if bank nifty sustains above yesterdays high of 10080 then it is likely to test 10300 10350 levels. On the downside, 9826 9607 levels may act as support level for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points: View Resistance Levels Support Level

Neutral 10080 10300 9826 9607
Source: Falcon

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Technical Research | November 1, 2011

Positive Bias: Stock Name Aptech BankBaroda 5 Day EMA 119 746.2 20 Day EMA 117.7 749.4 Expected Target 129 800 Remarks View will change below 116.50 View will change below 729

Negative Bias:

Stock Name Jubilant Food ONGC

5 Day EMA 835 277.5

20 Day EMA 844 271

Expected Target 780 270

Remarks View will change above 834 View will change above 285

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Technical Research | November 1, 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 17,584 5,288 9,712 1,169 149 1,132 1,692 385 309 599 291 288 235 1,636 414 433 670 472 2,133 131 338 903 128 2,835 210 545 76 499 1,388 840 1,033 175 271 938 102 489 77 358 856 443 92 109 1,858 200 840 123 493 37 193 97 469 1,100 350 S1 17,644 5,307 9,851 1,182 152 1,146 1,711 388 314 611 295 292 239 1,653 418 439 680 481 2,157 134 357 917 130 2,856 211 554 77 506 1,401 853 1,079 177 274 957 104 495 78 364 867 454 94 110 1,882 204 848 125 499 38 196 99 476 1,108 358 PIVOT 17,729 5,334 9,965 1,203 156 1,155 1,740 392 321 628 300 296 244 1,664 425 446 687 486 2,174 137 367 935 133 2,877 213 568 78 509 1,415 864 1,106 180 280 968 105 507 80 370 883 463 95 113 1,902 207 860 129 504 38 201 101 482 1,120 372 R1 17,789 5,353 10,104 1,216 160 1,168 1,759 395 326 639 304 299 247 1,681 430 451 697 495 2,198 140 387 949 135 2,898 215 577 79 516 1,427 877 1,152 182 283 987 106 513 81 376 894 473 97 115 1,926 211 867 131 510 39 203 103 489 1,128 380 R2 17,874 5,379 10,219 1,237 164 1,178 1,789 399 333 656 309 303 252 1,692 437 459 704 501 2,215 143 397 968 137 2,919 217 591 80 520 1,441 888 1,179 186 289 998 107 524 83 382 910 482 98 118 1,946 214 880 134 515 40 208 105 496 1,140 393

Technical Research Team

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Technical Research |Technical Report November 1, 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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