Scribd Logo
Upload

Welcome to Scribd!

  • 250 views

    Technical Report 19th March 2012

    Uploaded by

    Angel Broking
    The daily technical report summarizes the performance of key Indian indices on Friday. The Sensex and Nifty closed marginally above key support levels after experiencing high volatility. Most sectors declined with Oil & Gas, Power and Consumer Goods seeing major losses. Technical indicators are pointing to further downside pressure on the indices in the coming week if support levels are broken. Bank Nifty is also expected to drift lower based on technical patterns.

    Copyright:

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

    Technical Report 19th March 2012

    Uploaded by

    Angel Broking
    250 views5 pages
    The daily technical report summarizes the performance of key Indian indices on Friday. The Sensex and Nifty closed marginally above key support levels after experiencing high volatility. Most sectors declined with Oil & Gas, Power and Consumer Goods seeing major losses. Technical indicators are pointing to further downside pressure on the indices in the coming week if support levels are broken. Bank Nifty is also expected to drift lower based on technical patterns.

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The daily technical report summarizes the performance of key Indian indices on Friday. The Sensex and Nifty closed marginally above key support levels after experiencing high volatility. Most sectors declined with Oil & Gas, Power and Consumer Goods seeing major losses. Technical indicators are pointing to further downside pressure on the indices in the coming week if support levels are broken. Bank Nifty is also expected to drift lower based on technical patterns.

    Copyright:

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

    Technical Report 19th March 2012

    Uploaded by

    Angel Broking
    The daily technical report summarizes the performance of key Indian indices on Friday. The Sensex and Nifty closed marginally above key support levels after experiencing high volatility. Most sectors declined with Oil & Gas, Power and Consumer Goods seeing major losses. Technical indicators are pointing to further downside pressure on the indices in the coming week if support levels are broken. Bank Nifty is also expected to drift lower based on technical patterns.

    Copyright:

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

    Technical Research | March 19, 2012

    Daily Technical Report Sensex (17466) / NIFTY (5318)


    On Friday, our Benchmark indices opened on a pessimistic note and traded with extreme volatility throughout the session to close marginally above the 5300 mark. On the sectoral front, Oil & Gas, Power and Consumer Goods were among the major looser, whereas FMCG ended on a gaining side. The advance to decline ratio was strongly in favor of declining counters. (A=1044 D=1801) (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 17164 / 5163 and 17607 / 5350, respectively. The 20-Week EMA is placed at 17150 / 5188 level. The Daily momentum oscillators and 3 & 8 EMA are

    negatively poised. Indices have closed around the 61.8% Fibonacci


    Source: Falcon

    retracement level of the rise from 17008 to 18041 / 5171 to 5500.

    Trading strategy:
    As mentioned in the previous weekly report, volatility surged on the back of major domestic events. Further, strong selling pressure on the Budget day dragged indices significantly lower to test 61.8% Fibonacci retracement level of the rise from 17008 to 18041 / 5171 to 5500. At this juncture, the momentum oscillators and 3 & 8 EMA on daily chart are negatively poised. Hence, in the coming week, if indices sustain below Fridays low of 17426 / 5305, then we may witness further selling pressure. In this scenario, markets may drift lower to test 17239 17008 / 5244 5171 levels. On the upside, 18040 / 5500 level is likely to act as resistance for the Indices. A sustainable move beyond this level may push indices higher to test swing high of 18524 / 5630.

    Actionable points:
    View Resistance Levels Support Levels Neutral 5353 - 5387 5305 - 5244

    For Private Circulation Only |

    Technical Research | March 19, 2012

    Bank Nifty Outlook - (10391)


    On Friday, in line with our benchmark indices, Bank Nifty too traded with extreme volatility throughout the session. The Bearish Engulfing candle stick pattern mentioned in our previous report has been confirmed as the index closed below 10556 levels. The negative crossover in RSI momentum oscillator mentioned in our previous report is still intact. Thus, if Bank Nifty sustains below Fridays low of 10348 then we may drift towards 10169 10073 levels. On the upside 10536 10700 levels are likely to act as resistance in coming trading session. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Expected Target Resistance Levels Negative Below 10348 10169 10073 10536 10700
    Source: Falcon

    For Private Circulation Only |

    Technical Research | March 19, 2012

    Positive Bias:
    20 Day EMA 683.5 Positive Above 685 Expected Target 715

    Stock Name M&M

    CMP 678

    5 Day EMA 669

    Remarks View will change below 655

    Negative Bias:
    20 Day EMA 274 Negative Below 282.5 Expected Target 270

    Stock Name Tata Motors

    CMP 286.7

    5 Day EMA 285.6

    Remarks View will change above 292

    For Private Circulation Only |

    Technical Research | March 19, 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 17,144 5,216 10,040 1,304 159 1,157 1,689 322 254 648 323 294 333 189 1,646 354 483 654 493 1,898 135 380 884 138 2,809 200 544 73 515 1,271 628 1,291 165 256 915 104 403 89 749 608 125 92 2,126 191 731 109 501 26 274 101 435 1,147 421 S1 17,305 5,267 10,216 1,322 164 1,187 1,705 325 264 656 334 298 337 193 1,663 360 490 660 500 1,927 138 385 901 142 2,837 208 560 76 527 1,296 653 1,333 169 265 939 106 407 90 761 620 128 94 2,177 195 751 112 523 27 280 103 445 1,158 425 PIVOT 17,588 5,356 10,524 1,339 167 1,233 1,731 330 279 669 352 304 343 197 1,686 370 498 669 513 1,955 141 388 927 147 2,875 216 582 80 547 1,339 675 1,381 175 277 980 109 413 93 779 640 132 97 2,266 201 783 116 558 29 289 107 459 1,169 430 R1 17,749 5,407 10,700 1,356 171 1,263 1,748 333 289 677 364 308 347 201 1,703 376 505 675 520 1,984 144 394 944 150 2,903 225 597 82 559 1,363 700 1,423 179 285 1,004 111 417 95 791 652 135 99 2,317 205 804 118 581 30 295 110 469 1,180 434 R2 18,032 5,497 11,008 1,373 174 1,309 1,773 338 305 690 382 315 353 206 1,726 385 513 683 532 2,012 148 397 971 155 2,941 233 619 86 579 1,406 723 1,471 185 298 1,044 114 424 97 809 672 140 103 2,406 212 836 122 615 31 304 114 483 1,191 440

    Technical Research Team


    For Private Circulation Only |

    Technical Research | March 19, 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 [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.

    Sebi Registration No : INB 010996539

    For Private Circulation Only |

    You might also like