Technical Research | April 04, 2012

Daily Technical Report Sensex (17597) / NIFTY (5359)

Yesterday, we witnessed a gap up opening in-line with other global bourses and subsequently managed to hold their early gains throughout the session. Eventually, indices closed marginally above 5350 mark. On sectoral front, Consumer Durables, Capital Goods and Oil & Gas counters were among the major gainers, whereas Health Care and Auto sectors ended with a nominal loss. The advance to decline ratio was strongly in favor of advancing counters (A=1796 D=1022) (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. We are witnessing a Downward Sloping Trend Line

resistance around 17630 / 5380 level. The daily RSI-Smoothened momentum oscillator has
Source: Falcon

given a positive crossover.

Trading strategy:
Yesterday, after a gap up opening our indices traded with positive bias in the first half of the trading session. As expected, the Indices faced resistance near the Downward Sloping Trend Line mentioned in our previous reports near 5380 level. At this juncture, the placement of 5 & 20 EMA on the Daily chart suggests that positive momentum is likely to continue once indices trade convincingly above the Downward Sloping Trend Line which coincides with Yesterdays high of 17664 / 5379. In such scenario, indices are likely to rally further towards 17700 17836 / 5400 5430 levels. Since the momentum oscillators on the hourly chart are in overbought zone, a consolidation or a minor pullback cannot be ruled out. On the downside, 17500 17420 / 5325 5300 levels can act as a decent support for the markets in coming trading session.

Actionable points:
View Resistance Levels Support Levels Neutral 5380 5430 5325 5300

For Private Circulation Only |

Technical Research | April 04, 2012

Bank Nifty Outlook - (10433)

Yesterday, Bank Nifty opened with an upside gap in line with our benchmark indices and traded in a narrow range throughput the session. The positive crossover in RSI and Stochastic momentum oscillator on the daily chart mentioned in our previous report is still intact. However, the momentum oscillators on the hourly chart are negatively poised hence possibility of a minor pullback cannot be ruled out. On the downside, a fall below 10376 will confirm the pullback and index may drift towards 10251 10174. On the upside, 10503 10580 are likely to act as resistance in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10503 10580 10376 10251 - 10174
Source: Falcon

For Private Circulation Only |

Technical Research | April 04, 2012

Positive Bias:
Positive Above 58 Expected Target 65

Stock Name NCC

CMP 56.3

5 Day EMA 53.8

20 Day EMA 53.6

Remarks View will change below 53

Negative Bias:
Negative Below 585 Expected Target 570

Stock Name Havells

CMP 588.6

5 Day EMA 580.4

20 Day EMA 568

Remarks View will change above 606

For Private Circulation Only |

Technical Research | April 04, 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 17,516 5,326 10,310 1,341 167 1,147 1,621 330 256 673 338 308 337 203 1,643 376 495 679 523 1,965 128 398 888 134 2,824 226 533 85 551 1,332 696 1,275 165 268 918 108 453 85 735 602 118 96 2,125 192 763 109 561 25 273 100 470 1,155 438 S1 17,557 5,342 10,372 1,353 169 1,162 1,634 334 260 689 347 310 340 205 1,668 380 500 683 527 1,987 130 401 898 136 2,841 226 538 87 555 1,347 701 1,292 166 271 925 109 460 86 744 608 120 97 2,149 195 776 111 565 25 277 101 474 1,166 442 PIVOT 17,611 5,361 10,437 1,363 172 1,173 1,652 339 265 699 353 312 344 208 1,711 383 503 686 532 2,027 131 405 908 137 2,860 227 544 88 560 1,357 708 1,321 168 273 932 110 464 87 753 615 122 98 2,166 197 785 112 571 26 280 101 478 1,187 446 R1 17,651 5,377 10,498 1,375 173 1,188 1,665 342 269 715 363 314 347 210 1,736 386 509 690 535 2,049 133 408 919 139 2,877 228 549 90 564 1,372 714 1,338 169 276 939 111 470 88 762 620 123 100 2,190 201 798 114 575 26 284 102 482 1,198 450 R2 17,705 5,395 10,564 1,385 176 1,199 1,683 347 274 725 369 316 350 213 1,779 389 512 693 540 2,089 135 412 929 141 2,895 229 555 91 568 1,382 721 1,367 170 278 947 112 474 89 772 628 125 101 2,207 203 807 115 581 27 286 103 486 1,219 453

Technical Research Team

For Private Circulation Only |

Technical Research | April 04, 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

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 |