Technical Research | November 25, 2011

Daily Technical Report

Sensex (15858) / NIFTY (4756)
Yesterday, markets opened on a flat note and drifted lower during the first half to test Wednesdays low of 15479 / 4641. However, huge short covering towards the latter part of the session pushed indices higher to close well in the positive territory. On the sectoral front, the Auto, Capital Goods and Teck counters were among the major gainers, whereas Consumer Durables ended with a marginal loss. The advance decline ratio was in favor of declining counters (A=1475 D=1299). (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
There is no specific formation is seen on the chart.
Source: Falcon

Trading strategy:
We witnessed a very volatile session after a flat opening mainly due to November series Derivatives expiry. After testing yesterdays low of 15479 / 4641, indices rallied sharply due to huge short covering towards the end of the session. Going forward, yesterdays low of 15479 / 4639 may act as key support for the markets. A sustainable move below this level would attract strong selling pressure, which may drag indices lower to test 15330 / 4540. On the upside, indices are likely to face resistance near 15970 / 4780 level. If indices cross and sustain above 15970 / 4780, then they are likely to rally towards the next resistance level of 16213 / 4854.

Actionable points:
View Resistance levels Support level Neutral 4780 4854 4640

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Technical Research | November 25, 2011

Bank Nifty Outlook - (8473)

Bank nifty opened on a flat note and traded in a narrow range during the first half of the session. However, during the last hour of the trade, the index bounced back sharply mainly due to short covering, to close near days high. We are now observing a narrow range body formation, which suggest indecisiveness prevailing at current levels. Therefore, if Bank Nifty sustains above yesterdays high of 8504, then it is likely to test 8626 8700 levels. On the downside, 8335 - 8240 levels may act as support levels for the day. Actionable points: View
Resistance levels Support Levels Neutral 8626 8700 8335 8240

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Technical Research | November 25, 2011

Positive Bias: Stock Name Coal India Suzlon 5 Day EMA 303.4 23.5 20 Day EMA 315.7 29.7 Expected Target 315 29 Remarks View will change below 297 View will change below 21

Negative Bias:

Stock Name Hind Petro Hero Motocop

5 Day EMA 288.9 2136

20 Day EMA 310.5 2124.9

Expected Target 270 2035

Remarks View will change above 296 View will change above 2154

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Technical Research | November 25, 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 15,325 4,590 8,190 1,085 137 923 1,524 354 239 476 283 303 187 1,478 365 363 598 402 2,038 114 376 711 100 2,548 186 482 58 419 1,154 673 933 151 238 849 94 403 68 277 743 380 84 81 1,611 159 634 100 478 21 160 89 359 1,026 356 S1 15,592 4,673 8,331 1,100 144 940 1,589 366 250 490 292 309 192 1,528 376 378 612 416 2,072 116 380 721 103 2,607 189 491 60 431 1,189 693 961 155 247 867 94 416 69 282 758 388 86 83 1,632 168 660 102 490 22 166 90 372 1,059 364 PIVOT 15,747 4,722 8,418 1,119 148 953 1,633 375 258 500 301 314 196 1,567 383 388 621 425 2,113 118 384 728 106 2,646 193 499 61 440 1,209 706 980 157 252 880 95 426 71 287 768 395 89 85 1,650 174 678 103 498 23 171 92 381 1,078 369 R1 16,013 4,805 8,559 1,133 155 969 1,699 388 269 513 310 320 201 1,617 394 403 635 439 2,148 120 388 738 109 2,705 196 508 63 451 1,244 726 1,008 161 261 898 96 439 72 292 783 404 91 87 1,672 182 705 105 510 24 177 94 394 1,110 376 R2 16,168 4,854 8,646 1,153 159 982 1,742 397 277 523 318 325 205 1,656 401 413 644 449 2,188 123 392 745 111 2,743 199 515 64 461 1,265 739 1,027 164 266 911 97 448 73 297 793 410 93 90 1,690 188 723 107 518 25 182 95 403 1,129 381

Technical Research Team

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Technical Research | November 25, 2011 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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