Technical Report 16th March 2012

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Technical Research | March 16, 2012

For Private Circulation Only | 2

Yesterday, Bank Nifty opened on a flat note andwitnessed selling pressure post RBI monetary policyannouncement which led the index to close near thelowest point of the day. We had mentioned in ourprevious report that “RSI Smoothened” oscillator on thehourly chart is placed in an extreme overbought conditionand a minor pull back cannot be ruled out. We arewitnessing a “Bearish Engulfing” candle stick pattern onthe daily chart coupled with negative crossover in “ RSI”

momentum oscillator. The said pattern will be confirmedif the index manages to sustain below yesterday’s low of10556. In this case the index is likely to test 10420 – 10286 levels. On the upside 10736 – 10830 levels arelikely to act as resistance in coming trading session. Thesaid pattern will be negated only if the index closes aboveyesterday’s high of 10894.

Actionable points:

View Negative - Only Below 10556Expected Target 10420 - 10286Resistance Levels 10736 - 10830

Bank N ifty Outlook - (10595)

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 DayEMA

PositiveAbove

ExpectedTarget Remarks

HindustanUniliver 388.1 383.9 383.7 390 400 View will change below

382





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,443 17,559 17,739 17,855 18,035

NIFTY 5,302 5,341 5,402 5,441 5,502BANKNIFTY 10,344 10,469 10,682 10,807 11,020

ACC 1,325 1,335 1,347 1,357 1,369

AMBUJACEM 161 163 167 169 172

AXISBANK 1,20 8 1,22 5 1,25 1 1,268 1,29 3

BAJAJ-AUTO 1,704 1,720 1,745 1,761 1,786

BHARTIARTL 325 328 333 337 342

BHEL 274 279 286 291 298

BPCL 650 659 671 680 692

CAIRN 359 363 369 373 379

CIPLA 304 306 309 311 313

COALINDIA 334 337 339 343 345

DLF 188 192 198 202 209DRREDDY 1,66 0 1,67 1 1,68 5 1,696 1,71 0

GAIL 368 371 376 379 383

HCLTECH 486 491 498 504 511

HDFC 649 655 666 672 683

HDFCBANK 496 503 517 524 538

HEROMO TOCO 1,895 1,931 1,954 1,990 2,013

HINDALCO 138 140 142 144 146

HINDUNILVR 379 383 387 391 395

ICICIBANK 904 917 937 950 970

IDFC 140 143 147 149 153

INFY 2,851 2,867 2,886 2,901 2,921

ITC 205 207 210 212 215JINDALSTEL 585 594 600 608 615

JPASSOCIAT 75 77 79 80 82

KOTAKBANK 534 547 561 573 588

LT 1,322 1,342 1,368 1,388 1,414

M&M 647 652 661 666 675

MARUTI 1,343 1,354 1,367 1,379 1,392

NTPC 176 178 179 181 182

ONGC 279 283 288 292 297

PNB 962 979 1,007 1,024 1,052

POWERGRID 108 109 111 113 115

RANBAXY 400 406 415 421 430

RCOM 92 93 95 96 99RELIANCE 776 786 804 814 832

RELINFRA 615 625 639 649 662

RPOWER 128 130 132 135 137

SAIL 97 98 99 100 101

SBIN 2,236 2,268 2,318 2,350 2,400

SESAGOA 199 202 207 210 215

SIEMENS 780 792 802 813 823

STER 114 116 118 120 123

SUNPHARMA 579 583 587 591 595

SUZLON 27 28 29 30 31

TATAMOTORS 280 285 290 295 299

TATAPOWER 106 108 110 111 113

TATASTEEL 450 456 462 468 473

TCS 1,134 1,149 1,160 1,175 1,186

WIPRO 415 421 427 433 438

Technical Research Team

Daily Pivot Levels for Nif ty 50 Stocks





Technical Report

RESEARCH TEAM

Shardul Kulkarni Head - Technicals

Sameet Chavan Technical AnalystSacchitanand Uttekar Technical AnalystMehul Kothari Technical AnalystAnkur Lakhotia Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to [email protected]

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Technical Report 16th March 2012