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Technical Research | December 14, 2011

Daily Technical Report


Sensex (16003) / NIFTY (4800)
Markets opened with a downside gap and traded with immense volatility throughout the day. A sharp recovery from the days low during the last hour the trade led indices to close well in the positive territory. On the sectoral front, Metal, Auto and Oil & Gas counters were among the major gainers whereas Consumer Durables and Capital Goods sectors ended on losing side. The advance decline ratio was in favor of declining counters. (A=1155 D=1529). (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
On the Daily chart, indices have taken a support near 78.60% Fibonacci Retracement level of the rise from 15478 to 17704 / 4639 to 5100.
Source: Falcon

Trading strategy:
After a gap down opening, Indices drifted lower and registered a low of 15771 / 4728 during the initial hour of the trade. However, a sharp recovery in the last hour of trade pushed indices higher to close at 16000 / 4800 mark. We are now observing that indices have taken a support near 78.60% Fibonacci Retracement level of the rise from 15478 to 17704 / 4639 to 5100 and bounced sharply from that point. Therefore, going forward, if indices manage to sustain above yesterdays high of 16080 / 4825, then they are likely to move towards 16142 16383 / 4841 4918 levels. On the downside, yesterdays low of 15771 / 4728 would act as support in coming trading session. A breach of this low may attract selling pressure and indices then may slide towards the recent bottom of 15478 / 4639.

Actionable points:
View Resistance levels Support level Neutral 4841 - 4918 4728

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Technical Research | December 14, 2011

Bank Nifty Outlook - (8572)


Exhibit 2: Bank Nifty Daily Chart
Bank nifty opened on a flat note and traded in a narrow range during first half of the session. However, during the second half we witnessed immense volatility which led the index to close in positive territory. We are now witnessing a positive crossover in the RSI-Smoothened oscillator on the hourly chart which indicates probability of a bounce. Therefore, if Bank Nifty sustains above yesterdays high of 8642 then it is likely to test 8727 8830 levels. On the downside, 8393 8295 levels are likely to act as support levels for the day.

Actionable points:
View Resistance level Support levels Neutral 8642 8727 8830 8393 8295
Source: Falcon

Stock Recommendations:
Stock Mphasis Ltd. (Dec.Fut.) Action Buy Last close Buy Above Stop Loss Target ` 336.75 ` 338 ` 328.65 ` 360

Exhibit 3: Mphasis Ltd. (Dec.fut.)

Justification On the Daily chart, the stock has given a trend line breakout at ` 330 with heavy volumes. Further, on weekly chart we are witnessing positive crossover in 3 & 8 Week EMA. This suggests that the upside momentum is likely to continue. Buy the stock ONLY above ` 338 for a target of ` 360 in coming 5-6 trading sessions.

Source: Falcon

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Technical Research | December 14, 2011

Positive Bias:

Stock Name Aban Axis bank

CMP 360.05 960

5 Day EMA 358.3 954.9

20 Day EMA 368.5 972.4

Expected Target 380 1010

Remarks View will change below 342.5 View will change below 940

Negative Bias:

Stock Name Tata Motors Rec Ltd

CMP 178.9 176.6

5 Day EMA 182 181.1

20 Day EMA 181.4 185.5

Expected Target 169 168

Remarks View will change above 182.5 View will change above 183

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Technical Research | December 14, 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 15,643 4,688 8,287 1,082 144 924 1,591 331 247 526 289 319 196 1,542 383 401 627 417 1,913 118 379 681 100 2,686 194 484 56 469 1,138 663 939 157 250 855 94 393 70 271 711 365 76 75 1,720 166 647 95 495 21 170 85 365 1,151 397 S1 15,823 4,745 8,429 1,109 148 942 1,625 338 254 533 298 324 202 1,571 387 408 637 428 1,960 124 383 694 103 2,719 196 502 58 478 1,154 682 948 162 253 872 97 400 71 277 727 371 77 78 1,754 170 665 97 504 21 175 88 379 1,165 405 PIVOT 15,951 4,785 8,536 1,128 151 958 1,647 345 258 541 304 327 207 1,594 390 418 646 437 1,987 127 385 703 105 2,742 197 515 60 484 1,170 694 959 165 255 883 98 405 73 281 736 378 79 80 1,781 173 677 99 509 22 179 90 387 1,181 413 R1 16,131 4,841 8,678 1,155 155 976 1,681 352 265 548 313 332 213 1,623 393 426 655 447 2,034 133 389 716 108 2,775 199 533 62 493 1,187 713 967 170 258 901 101 411 74 287 752 384 81 83 1,815 176 695 101 518 22 183 93 401 1,195 421 R2 16,259 4,881 8,785 1,174 158 992 1,702 358 270 555 319 335 217 1,646 396 435 664 456 2,061 137 392 725 110 2,798 200 546 64 499 1,203 725 978 174 261 912 103 416 76 292 761 391 83 85 1,842 179 708 103 523 22 187 95 409 1,211 429

Technical Research Team


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Technical Research | December 14, 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

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com Research Team: 022-3952 6600 Website: www.angelbroking.com

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