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    Technical Report 29th December 2011

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    Angel Broking
    The daily technical report summarizes the performance of key indices in India. It notes that the Sensex and Nifty opened flat and remained in negative territory throughout the day, with several sectors like metals, banking, and oil & gas among the major decliners. It provides charts showing resistance and support levels for the indices, and identifies technical indicators that suggest the markets may slide further. It also outlines positive and negative biases for specific stocks based on moving averages and expected price targets.

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    Technical Report 29th December 2011

    Uploaded by

    Angel Broking
    91 views5 pages
    The daily technical report summarizes the performance of key indices in India. It notes that the Sensex and Nifty opened flat and remained in negative territory throughout the day, with several sectors like metals, banking, and oil & gas among the major decliners. It provides charts showing resistance and support levels for the indices, and identifies technical indicators that suggest the markets may slide further. It also outlines positive and negative biases for specific stocks based on moving averages and expected price targets.

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    The daily technical report summarizes the performance of key indices in India. It notes that the Sensex and Nifty opened flat and remained in negative territory throughout the day, with several sectors like metals, banking, and oil & gas among the major decliners. It provides charts showing resistance and support levels for the indices, and identifies technical indicators that suggest the markets may slide further. It also outlines positive and negative biases for specific stocks based on moving averages and expected price targets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    91 views5 pages

    Technical Report 29th December 2011

    Uploaded by

    Angel Broking
    The daily technical report summarizes the performance of key indices in India. It notes that the Sensex and Nifty opened flat and remained in negative territory throughout the day, with several sectors like metals, banking, and oil & gas among the major decliners. It provides charts showing resistance and support levels for the indices, and identifies technical indicators that suggest the markets may slide further. It also outlines positive and negative biases for specific stocks based on moving averages and expected price targets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    Technical Research | December 29, 2011

    Daily Technical Report


    Sensex (15728) / NIFTY (4706)
    Once again indices opened on a flat note and traded with negative bias almost throughtout the session. On the sectoral front, Metal, Banking and Oil & Gas sectors were among the major losers, whereas Power and Capital Goods counters ended marginally on a losing side. The advance to decline ratio was strongly in favor of declining counters. (A=1055 D=1667). (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation
    We are witnessing a positive crossover in RSI Smoothened oscillator. The 20 EMA on the daily chart is placed at 16020 /

    4800 level.

    Trading strategy:
    We are witnessing that the 20 day EMA placed at 16020/4800 is proving to be a strong resistance for the Indices. Yesterday, markets opened quietly and selling pressure dragged indices lower to breach Tuesdays low of 15799 / 4723. In line with expectations, indices then drifted below 15800 / 4700 mark during the trading session but finally managed to close around this level. Going forward, if indices manage to sustain below yesterdays low of 15666 / 4685, then they are likely to slide further towards the next support levels of 15592 15472 / 4665 4632. On the upside, we reiterate that the 20 Day EMA levels of 16020 16070 / 4800 4820 remains to be a strong resistance zone for the markets. Due to Derivatives expiry, the coming trading session is likely to trade with high volatility and choppiness. Traders are advised to stay light on positions and place strict stop losses.

    Source: Falcon

    Actionable points:
    View Resistance levels Support levels Neutral 4800 4820 4685 4665 4632

    For Private Circulation Only |

    Technical Research | December 29, 2011

    Bank Nifty Outlook - (8111)


    Yesterday, Bank Nifty opened lower and tested the mentioned support level of 8072. On the down side, 8028 is the 61.8% Fibonnaci retracement level of the rise from 7766 8452. This retracement level is close to yesterdays low of 8053 and we expect the Bank Nifty to take support near this level. However, on the Daily chart, we are witnessing a negative crossover in Stochastic and RSI momentum oscillators. Hence, in a scenario in which the Bank Nifty sustains below 8028, it may slide further to 7936 level. On the upside, 8150 8256 levels may now act as resistance for the coming trading sessions. Exhibit 2: Bank Nifty Daily Chart

    Actionable points: View Resistance Level Support Level


    Neutral 8150 - 8256 8053 - 8028

    Source: Falcon

    For Private Circulation Only |

    Technical Research | December 29, 2011

    Positive Bias:

    Stock Name Wel Corp

    CMP 86.9

    5 Day EMA 83.8

    20 Day EMA 80.7

    Expected Target 92

    Remarks View will change below 81.6

    Negative Bias:

    Stock Name Jindal Steel

    CMP 455

    5 Day EMA 478.6

    20 Day EMA 500.6

    Expected Target 441

    Remarks View will change above 491

    For Private Circulation Only |

    Technical Research | December 29, 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 15,539 4,645 7,937 1,145 159 810 1,569 337 233 485 305 311 183 1,538 385 379 647 429 1,873 113 406 678 92 2,727 199 418 51 436 996 668 939 155 258 746 97 397 70 240 721 349 71 78 1,583 156 642 87 491 18 176 89 339 1,155 384 S1 15,634 4,676 8,024 1,157 161 821 1,590 340 240 490 310 317 188 1,552 390 386 654 434 1,892 115 409 688 94 2,754 200 436 53 445 1,013 678 949 158 259 760 99 401 71 244 730 354 71 79 1,597 158 649 88 495 19 178 91 343 1,162 391 PIVOT 15,761 4,716 8,140 1,171 163 831 1,616 343 244 497 317 321 191 1,571 394 390 665 439 1,906 117 413 704 95 2,779 203 464 53 451 1,024 693 961 160 261 785 100 407 72 248 744 362 72 80 1,616 160 662 90 499 19 181 92 347 1,173 401 R1 15,855 4,746 8,227 1,183 164 842 1,636 347 251 502 322 326 196 1,585 399 396 672 444 1,925 119 416 714 97 2,807 205 482 55 461 1,040 702 971 163 263 799 101 411 73 251 753 366 73 81 1,629 162 670 92 503 20 183 94 351 1,180 407 R2 15,982 4,786 8,343 1,197 166 852 1,663 349 255 509 330 330 200 1,603 403 400 682 449 1,939 122 421 731 98 2,832 207 510 55 467 1,051 718 983 166 265 824 102 416 75 255 767 374 74 82 1,648 164 683 94 507 20 186 96 355 1,191 417

    Technical Research Team


    For Private Circulation Only |

    Technical Research | December 29, 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 [email protected] 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.

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