Anda di halaman 1dari 5

Technical Research | February 10, 2012

Daily Technical Report Sensex (17831) / NIFTY (5412)


Yesterday, our bechmark indices opened flat and traded in a narrow range throughout the day but strong buying in the final hour of trade led Nifty to close above 5400 mark after Aug 2011. Once again, the rally was led by Metal, Realty and Banking counters. Sectors like, Oil & Gas and Consumer Durables ended with a nominal loss. The advance to decline ratio was in favor of advancing counters. (A=1828 D=1057) (Source -www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
Indices are hovering around Horizontal Line resistance of 17908 / 5400. The RSI-Smoothened oscillator on daily chart is placed in extreme overbought territory. Tuesdays price action indicates a Bearish Engulfing pattern. The momentum oscillator on the daily chart viz., the Stochastic is negatively poised.
Source: Falcon

Trading strategy:
Yesterday, indices again made an attempt to cross 5400 mark and finally succeeded to close above that after Aug 2011. Indices have almost negated the Bearish Engulfing pattern and have just closed marginally below the high of this pattern. The liquidity is the system remains abundant and the FIIs are on a buying spree. Going forward, if indices trades convincingly above 17880 / 5424 level then they are likely to rally towards 18000 18280 / 5435 5500 levels. On the downside, violation of 17582 / 5322 level may attract strong selling pressure and indices may slide towards 17504 - 17308 / 5290 - 5225 levels.

Actionable points:
View Resistance levels Support levels Neutral 5435 - 5500 5322 - 5290 - 5225

For Private Circulation Only |

Technical Research | February 10, 2012

Bank Nifty Outlook - (10508)


After a consolidation of three days, Bank Nifty finally managed to give a breakout on the higher side of the said range of 10180 10430. The ADX (14) indicator is at 36.33 level which shows that the ongoing uptrend is gaining further strength. Thus, going forward, on the upside, if the index manages to sustain above yesterdays high of 10546 then it is likely to test 10670 10705. On the downside 10267 10180 levels are likely to act as support in coming trading session. The placement of the RSI Smoothened oscillator indicates that traders should not take aggressive long positions at current levels and should trade with strict stop losses. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance levels Support levels Neutral 10670 - 10705 10267 - 10180
Source: Falcon

For Private Circulation Only |

Technical Research | February 10, 2012

Positive Bias:
Expected Target 119

Stock Name Great Offshor

CMP 107.6

5 Day EMA 104.4

20 Day EMA 96.8

Remarks View will change below 101

For Private Circulation Only |

Technical Research | February 10, 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 17,503 5,307 10,161 1,358 173 1,092 1,612 340 257 562 372 347 329 223 1,596 380 455 684 498 1,936 143 382 901 133 2,698 201 566 75 518 1,324 672 1,244 175 272 968 106 446 91 835 576 99 102 2,143 220 772 118 530 28 245 104 434 1,172 421 S1 17,667 5,360 10,334 1,373 176 1,113 1,657 345 260 580 377 350 331 228 1,618 385 459 691 510 1,965 151 388 920 135 2,754 202 585 77 535 1,340 687 1,257 177 277 984 108 449 93 844 584 103 105 2,164 225 787 124 536 30 251 108 443 1,200 433 PIVOT 17,773 5,392 10,440 1,386 179 1,128 1,683 349 263 593 381 353 334 234 1,631 390 465 695 518 2,000 157 391 933 137 2,788 204 595 78 545 1,356 697 1,268 179 280 994 109 453 94 852 592 105 107 2,178 228 795 128 546 31 255 110 449 1,216 441 R1 17,937 5,444 10,614 1,402 181 1,149 1,728 355 265 611 386 355 336 239 1,652 394 469 702 530 2,029 164 397 952 140 2,844 205 614 80 561 1,371 712 1,281 182 285 1,010 110 455 97 862 600 109 111 2,198 233 810 134 553 32 261 114 458 1,244 453 R2 18,043 5,476 10,720 1,415 184 1,163 1,754 359 268 623 390 358 339 244 1,666 399 475 706 538 2,064 170 401 964 141 2,878 207 625 81 572 1,387 722 1,292 184 288 1,020 112 459 98 869 607 112 113 2,212 236 818 137 563 33 265 117 463 1,260 461

Technical Research Team


For Private Circulation Only |

Technical Research |Technical10, 2012 February 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

DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and must not
be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed is our current opinion as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true and are for general guidance only. While every effort is made to ensure the accuracy and completeness of information contained, the company takes no guarantee and assumes no liability for any errors or omissions of the information. No one can use the information as the basis for any claim, demand or cause of action. Recipients of this material should rely on their own investigations and take their own professional advice. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions - futures, options and other derivatives as well as non-investment grade securities - involve substantial risks and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a company's fundamentals and as such, may not match with a report on a company's fundamentals. We do not undertake to advise you as to any change of our views expressed in this document. While we would endeavor to update the information herein on a reasonable basis, Angel Broking, its subsidiaries and associated companies, their directors and employees are under no obligation to update or keep the information current. Also there may be regulatory, compliance, or other reasons that may prevent Angel Broking and affiliates from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Angel Broking Limited and affiliates, including the analyst who has issued this report, may, on the date of this report, and from time to time, have long or short positions in, and buy or sell the securities of the companies mentioned herein or engage in any other transaction involving such securities and earn brokerage or compensation or act as advisor or have other potential conflict of interest with respect to company/ies mentioned herein or inconsistent with any recommendation and related information and opinions. Angel Broking Limited and affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past.

Sebi Registration No : INB 010996539

For Private Circulation Only |