Technical Research | March 27, 2012

Daily Technical Report Sensex (17053) / NIFTY (5184)

Yesterday, we witnessed a flat opening in-line with other Asian bourses. However, selling pressure intensified as the day progressed and dragged indices to close almost at the lowest point of the day. It must be noted that participation from domestic institutions was extremely muted in yesterdays session. On sectoral front, Realty, Power and Banking counters were among the major losers. There was no sector in the positive territory. The advance to decline ration was strongly in favour of declining counters (A=962 D=1889) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA (Simple Moving Average) and 20day EMA (Exponential Moving Average) have now shifted to 17164 / 5163 and 17607 / 5350, respectively. The 20-Week EMA is placed at 17150 / 5188 level.
Source: Falcon

Trading strategy:
The week began on a quiet note but market drifted lower right from the opening trades. Selling pressure gained momentum on the violation of Fridays low of 17179 / 5220. As a result, indices continued sliding down and tested the mentioned strong support level of 17008 / 5171. This support level almost coincides with 200-day SMA and 20-week EMA. Therefore, it can be considered as a strong support zone. Considering the global cues in todays session, it is likely that our markets may open on a positive note. On the upside, 17388 17459 / 5275 5312 levels may act as resistance in coming trading session. On The downside, if indices manage to sustain below 17008 / 5171, then we are likely to witness further downside momentum. In this case, indices may fall lower to test the next support zone of 16828 16600 / 5076 5000.

Actionable points:
View Resistance Levels Support Levels Neutral 5275 5312 5171 5076 5000

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Technical Research | March 27, 2012

Bank Nifty Outlook - (10044)

Yesterday, Bank Nifty opened on a flat note and not only tested the 10000 level during the session, but managed to close well below the mentioned range of 10100 10600. We are now witnessing a trend line breakdown formed by joining the lows of January30, 2012 and March7, 2012. The momentum oscillators on the daily chart are negatively poised. However, we are witnessing a positive divergence in RSI momentum oscillator on the hourly chart. Thus possibility of a minor pullback cannot be ruled out. On the upside 10250 10340 levels are likely to act as resistance in coming trading session. Moreover any move below yesterdays low of 10013 will trigger fresh momentum on the downside and the index may drift towards 9939 9800 levels. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10250 - 10340 10013 9939 9800

Source: Falcon

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Technical Research | March 27, 2012

Positive Bias:
Positive Above 559 Expected Target 605

Stock Name United Spirits

CMP 552.6

5 Day EMA 551.8

20 Day EMA 566.2

Remarks View will change below 536

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Technical Research | March 27, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA 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 RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,795 5,111 9,857 1,298 163 1,085 1,611 320 251 647 341 277 324 183 1,629 352 451 643 500 1,928 123 393 842 122 2,792 219 503 78 515 1,260 667 1,271 160 255 877 104 401 84 717 561 115 91 2,080 179 749 102 566 26 263 92 430 1,136 416 S1 16,924 5,148 9,950 1,314 166 1,105 1,637 324 255 656 344 283 328 186 1,646 357 464 647 506 1,965 125 398 857 125 2,812 221 515 80 523 1,270 674 1,284 163 258 894 105 406 85 723 572 117 92 2,099 184 757 105 572 27 266 94 435 1,149 419 PIVOT 17,151 5,211 10,107 1,340 170 1,140 1,678 331 261 671 350 292 332 192 1,659 365 484 654 511 1,994 129 402 881 130 2,840 223 532 81 531 1,284 681 1,303 168 264 923 106 414 87 734 588 120 93 2,129 192 770 109 578 27 269 97 443 1,167 425 R1 17,280 5,248 10,200 1,356 172 1,160 1,704 335 264 680 354 298 336 195 1,676 370 497 658 517 2,030 131 407 896 133 2,859 224 543 83 539 1,294 688 1,316 170 268 940 107 419 89 740 598 122 94 2,148 197 778 112 584 28 272 99 449 1,180 428 R2 17,506 5,311 10,357 1,382 176 1,195 1,745 341 270 695 359 307 340 200 1,689 378 517 665 522 2,060 135 411 920 138 2,888 226 560 84 547 1,308 695 1,335 175 273 969 108 427 91 751 614 125 96 2,178 205 790 117 590 28 276 102 457 1,198 433

Technical Research Team

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Technical Research | March 27, 2012 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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