Technical Research | April 02, 2012

Daily Technical Report Sensex (17404) / NIFTY (5296)

On Friday, our Benchmark indices opened well above the mentioned resistance level of 17110 / 5195 on the back of strong global cues. Further, indices maintained this positive momentum throughout the day to close nearly 2% higher around 5300 mark. On sectoral front, Oil & Gas, Realty and Metal counters were among the major gainers. There was no sector in the negative territory. The advance to decline ratio was strongly in favour of advancing counters (A=1969 D=913) (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 17100 / 5150 and 17380 / 5284, respectively. The 20-Week EMA is placed at 17200 / 5200 level. The daily RSI momentum oscillator is positively poised. We are witnessing a Downward Sloping Trend Line

resistance around 17630 / 5365 level. The weekly chart depicts a Japanese candlestick pattern
Source: Falcon

called A Bullish Hammer.

Trading strategy:
Last week, indices traded marginally below 200-day SMA support level of 17008 / 5171 during Thursdays session, but strong buying interest near these levels led indices to close near the 5300 mark. We are now observing a Bullish Hammer candlestick pattern at 20-Week EMA. The pattern will be activated if indices mange to sustain above last weeks high of 17440 / 5307. In addition, the daily RSI oscillator is positively poised. Hence, we assign a strong probability that indices will cross 17440 / 5307 level. In such a scenario, indices are likely to move towards the Downward Sloping Trend Line resistance around 17630 / 5365 level seen on the daily chart.

Actionable points:
View Expected Targets Support Levels Bullish Above 5307 5365 - 5400 5171 5135

A closing above 17630 / 5365 level would lead to a Trend Line breakout and indices then may rally further with enhanced positive momentum to test 17871 18041 / 5445 5500 levels. On the downside, this weeks low of 16920 / 5135 would provide a decent support in the coming trading sessions. Only a breach of this level would resume the negative momentum and indices may slide towards 16828 16600 / 5076 5000 levels.

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Technical Research | April 02, 2012

Bank Nifty Outlook - (10213)

On Fridays session, Bank Nifty opened with an upside gap and gained strength as the day progressed to close near the highest point of the day. We had mentioned in our previous report that we are observing signs of positive divergence on the hourly chart. Moreover, on the weekly chart we are now observing a Hammer pattern formation at 20 week EMA (9932). This level coincides with 38.2% (9890) Fibonacci retracement support level of the rise from December23, 2011 February24, 2012. We are also witnessing positive crossover in momentum oscillators RSI and Stochastic on the daily chart. Thus a sustainable move above Fridays high of 10248 will trigger fresh momentum on the upside and the index may rally towards 10320 10405 levels. On the downside 10133 10080 - 10046 levels are likely to act as support in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Support Levels Bullish Above 10248 10320 10405 10133 10080 -10046

Source: Falcon

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Technical Research | April 02, 2012

Positive Bias:
Positive Above 2110 86.5 Expected Target 2260 98

Stock Name SBI HDIL

CMP 2096.3 85.6

5 Day EMA 2103 86.2

20 Day EMA 2166.5 94.7

Remarks View will change below 2040 View will change below 79

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Technical Research | April 02, 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 16,982 5,165 9,881 1,265 164 1,121 1,634 329 246 678 324 298 325 198 1,672 363 466 667 504 2,022 124 402 851 126 2,777 223 532 78 513 1,270 666 1,270 160 256 904 104 429 82 718 566 115 91 2,049 187 727 107 551 24 271 98 445 1,133 427 S1 17,193 5,230 10,047 1,312 168 1,133 1,656 334 252 689 329 302 335 200 1,718 370 475 670 512 2,039 126 406 871 131 2,822 225 539 80 529 1,290 683 1,310 161 262 914 106 449 83 734 577 116 92 2,073 191 743 109 561 25 273 100 458 1,151 434 PIVOT 17,316 5,269 10,148 1,344 171 1,143 1,672 336 255 696 333 304 342 202 1,749 376 481 674 518 2,052 129 410 882 133 2,847 226 547 81 540 1,302 694 1,333 163 266 925 108 462 84 744 583 117 94 2,091 193 753 110 573 26 275 101 467 1,163 438 R1 17,527 5,334 10,313 1,391 175 1,155 1,695 341 261 708 338 307 351 204 1,795 383 489 677 526 2,068 132 414 902 138 2,892 228 553 83 556 1,322 711 1,374 165 272 936 110 482 85 760 593 118 95 2,115 197 769 112 582 26 277 102 480 1,181 444 R2 17,651 5,372 10,414 1,422 178 1,165 1,710 343 264 715 343 309 358 206 1,826 390 495 680 532 2,082 134 418 914 140 2,917 230 561 84 567 1,335 722 1,397 166 277 946 111 494 86 769 599 119 96 2,134 199 778 114 594 27 279 103 488 1,194 448

Technical Research Team

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Technical Research | April 02, 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

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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