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    Technical Report 2nd January 2012

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    Angel Broking
    The daily technical report summarizes the performance of key indices like Sensex and Nifty during the previous week. It notes that indices opened with gains but saw strong selling pressure in the second half and closed near the lowest levels of the week. Key support and resistance levels are identified for the indices, and downside risks are flagged if certain support levels are broken. Trading strategies are recommended based on whether the indices sustain above resistance or fall below support levels.

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    Technical Report 2nd January 2012

    Uploaded by

    Angel Broking
    93 views5 pages
    The daily technical report summarizes the performance of key indices like Sensex and Nifty during the previous week. It notes that indices opened with gains but saw strong selling pressure in the second half and closed near the lowest levels of the week. Key support and resistance levels are identified for the indices, and downside risks are flagged if certain support levels are broken. Trading strategies are recommended based on whether the indices sustain above resistance or fall below support levels.

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    The daily technical report summarizes the performance of key indices like Sensex and Nifty during the previous week. It notes that indices opened with gains but saw strong selling pressure in the second half and closed near the lowest levels of the week. Key support and resistance levels are identified for the indices, and downside risks are flagged if certain support levels are broken. Trading strategies are recommended based on whether the indices sustain above resistance or fall below support levels.

    Copyright:

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

    Technical Report 2nd January 2012

    Uploaded by

    Angel Broking
    The daily technical report summarizes the performance of key indices like Sensex and Nifty during the previous week. It notes that indices opened with gains but saw strong selling pressure in the second half and closed near the lowest levels of the week. Key support and resistance levels are identified for the indices, and downside risks are flagged if certain support levels are broken. Trading strategies are recommended based on whether the indices sustain above resistance or fall below support levels.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 5

    Technical Research | January 02, 2012

    Daily Technical Report


    Sensex (15418) / NIFTY (4624)
    Markets opened with an upside gap on Fridays session, but failed to sustain at higher levels due to strong selling pressure during the second half. Hence, indices closed almost at the lowest point of the week. On the sectoral front, Oil & Gas, Realty and Banking sectors were among the major losers, whereas PSU and Health Care counters ended with a nominal gain. The advance to decline ratio was marginally in favor of declining counters. (A=1327 D=1451). (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation
    The 20 day EMA (Exponential Moving Average) resistance zone is around 16020 16070 / 4800 4820 levels. On the Daily chart, the 61.80% and 78.60% Fibonacci

    retracement levels of the rise from 15135 to 16049 / 4531 to 4801 are at 15485 / 4634 and 15331 / 4589, respectively.
    Source: Falcon

    Trading strategy:
    The fall seen during the later part of the week, after testing the 20 Day EMA, suggests that 16020 16070 / 4800 4820 levels have now become a significant resistance zone for the markets. Therefore, the upward momentum is likely to resume only if indices manage to sustain above this resistance zone. In this case, we may witness a further rally towards 16286 16421/ 4881 4920 levels. At present, we are observing that indices have closed marginally below the 61.80% Fibonacci retracement level of 15485 / 4634. The next immediate support is at 15331 / 4589, which is the 78.60% Fibonacci retracement level.

    Actionable points:
    View Expected Targets Support levels Positive Above 4691 4726 4758 4609 4589 4531

    View Expected Targets Resistance levels

    Negative Below 4609 4589 4531 4691

    Further, the recent bottom of 15135 / 4531 would act as a crucial support for the markets. The negative momentum may reinforce on the violation of this support. In this case, indices may slide towards the next support levels of 14870 14400 / 4430 4300. We wish everyone a Happy and Prosperous 2012.

    For Private Circulation Only |

    Technical Research | January 02, 2012

    Bank Nifty Outlook - (7969)


    Bank Nifty opened higher in-line with our benchmark indices on Fridays session. As expected and mentioned in our earlier report, strong selling pressure was seen on the violation of Thursdays low of 7986 and index closed near the lowest point of the day. It is now clear that the Bank Nifty have tested the 78.60% (7925) Fibonacci retracement level of the rise from 7766 to 8752. Going forward, 7925 7913 is likely to act as a support zone. A sustainable move below this support zone may reinforce selling pressure, which may drag the index to test recent bottom of 7766. On the upside, 8138 remains to be a strong resistance in coming trading session. The upside momentum is likely to resume only if Bank Nifty manages to sustain above 8138 level. In this case, index is likely to rally towards 8250 level. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Expected Target Support Level
    Positive Above 8138

    Source: Falcon

    8250 7913 7766

    View Expected Target Resistance Level

    Negative Below 7913

    7766 8138

    For Private Circulation Only |

    Technical Research | January 02, 2012

    Positive Bias:

    Stock Name PFC Union Bank

    CMP 138.1 169.8

    5 Day EMA 136.3 167.3

    20 Day EMA 145.5 183.4

    Expected Target 146 184

    Remarks View will change below 131 View will change below 155

    Negative Bias:

    Stock Name India Cem BomDyeing

    CMP 66 345.7

    5 Day EMA 67.7 355.3

    20 Day EMA 69.7 365.6

    Expected Target 62 325

    Remarks View will change above 69 View will change above 358

    For Private Circulation Only |

    Technical Research | January 02, 2012

    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 15,232 4,560 7,810 1,116 152 789 1,561 335 234 461 301 314 177 1,553 372 382 635 416 1,873 112 400 669 88 2,728 199 436 51 414 978 665 894 158 250 768 99 393 67 227 669 330 69 79 1,580 156 631 85 488 17 173 85 326 1,141 392 S1 15,343 4,592 7,889 1,126 153 798 1,576 339 237 469 308 317 180 1,566 378 385 644 421 1,889 114 404 677 90 2,748 200 445 52 422 986 673 906 159 253 774 99 399 69 231 681 335 70 80 1,600 160 637 87 493 18 176 86 331 1,151 395 PIVOT 15,519 4,641 8,005 1,143 156 813 1,596 343 239 477 311 321 185 1,577 382 388 656 428 1,911 117 409 688 93 2,761 202 455 53 435 999 684 923 161 258 782 100 406 70 237 701 344 71 81 1,625 163 644 90 497 18 180 88 339 1,167 399 R1 15,630 4,674 8,084 1,153 158 823 1,611 347 241 485 318 324 188 1,590 387 391 665 433 1,927 118 413 696 95 2,781 203 464 54 443 1,008 692 935 162 261 789 101 412 71 241 713 349 72 82 1,644 167 650 92 501 18 183 89 344 1,177 402 R2 15,806 4,723 8,200 1,169 161 837 1,632 351 243 493 322 329 193 1,601 391 395 677 440 1,948 121 419 708 98 2,795 204 475 55 456 1,021 703 952 164 266 796 102 419 72 247 732 357 74 83 1,669 170 657 94 505 18 187 91 352 1,193 406

    Technical Research Team


    For Private Circulation Only |

    Technical ResearchTechnical02, 2012 | January 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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