Technical Report 26th April 2012

Technical Research | April 26, 2012
Daily Technical Report Sensex (17151) / NIFTY (5202)

Yesterday, once again indices opened on a flat note in-line with other Asian bourses. Indices traded sideways in the initial hour of the trade but plunged post announcement of rating agency Standard & Poors. The agency has changed Indias outlook to negative. On sectoral front, Consumer Durables and IT counters were among the major losers, whereas defensive sectors like, FMCG and Health Care along with Auto sector ended in the positive territory. The advance to decline ratio was in strongly in favor of declining counters (A=998 D=1484) (Source www.bseindia.com)
Exhibit 1: Nifty Daily Chart
Formation:
The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 17050 / 5135 and 17400 / 5300, respectively. The 20-Week EMA is placed at 17200 / 5180 level.
Source: Falcon
Trading strategy:
In spite of the volatility seen in yesterdays session, the technical outlook on the market remains unchanged and the range bound activity is likely to continue. As mentioned in previous reports, once again the 20 week EMA has provided decent support for the markets. Going forward, only if indices manage to sustain below 16920 / 5135 level, then they likely to drift towards 16828 16600 / 5076 5000. Conversely, the immediate resistance is seen around 17250 / 5236 level. A move beyond this may push indices higher to test 17444 / 5311 level. Note: It is likely that we may see extreme volatility in todays session on account of positions. the derivatives expiry. Traders are advised to trade with strict stop losses and avoid aggressive
Actionable points:
View Resistance levels Support Level Neutral 5236 5311 5135
For Private Circulation Only |
Bank Nifty Outlook - (10160)

Yesterday, Bank Nifty opened on a flat note and traded with extreme volatility throughout the session. The index tested the mentioned support level of 10060 and bounced back. The negative crossover in RSI Smoothened momentum oscillator on the daily chart mentioned in our previous reports is still intact. On the contrary, the momentum oscillator RSI - Smoothened on the hourly chart is placed in an extreme oversold condition and possibility of a bounce back cannot be ruled out. The trading range of 10600 10150 mentioned in our previous reports was breached during the day trade but the index managed to claw back and give a close marginally above it. For the coming session 10280 10345 levels are likely to act as resistance and 10040 9985 levels may act as support. Exhibit 2: Bank Nifty Daily Chart
Source: Falcon
Actionable points:
View Resistance Levels Support Levels Neutral 10280 10345 10040 9985
Positive Bias:
Positive Above 40.2 Expected Target 43
Stock Name TVS Motor
CMP 39.9
5 Day EMA 39.8
20 Day EMA 40.9
Remarks View will change below 38.2
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 16,910 5,124 9,926 1,159 146 1,057 1,615 301 226 674 334 308 342 180 1,727 326 499 666 533 2,150 116 414 812 120 2,278 241 465 70 548 1,175 691 1,351 161 259 849 106 500 76 721 503 100 96 2,094 181 759 104 579 21 307 101 451 1,154 396 S1 17,030 5,163 10,043 1,177 148 1,076 1,635 307 229 680 341 310 346 183 1,754 331 503 671 540 2,197 118 416 825 122 2,314 243 473 72 557 1,203 697 1,366 163 262 862 107 508 77 729 515 102 98 2,133 183 769 106 586 22 310 104 458 1,162 403 PIVOT 17,140 5,200 10,160 1,206 151 1,100 1,661 311 234 689 346 314 352 186 1,773 340 508 680 545 2,227 120 419 840 124 2,339 245 480 74 566 1,220 706 1,378 165 266 878 109 520 79 736 527 106 100 2,170 185 783 107 594 22 313 105 467 1,176 413 R1 17,261 5,239 10,277 1,223 153 1,119 1,681 317 237 695 353 316 356 188 1,800 345 512 685 551 2,274 122 422 854 126 2,376 248 488 75 574 1,249 713 1,393 167 269 891 110 528 81 743 539 108 102 2,209 188 793 109 601 23 317 107 474 1,185 420 R2 17,370 5,275 10,395 1,252 156 1,144 1,707 322 242 704 358 320 362 191 1,819 354 517 693 556 2,304 124 425 869 128 2,401 249 495 77 583 1,266 722 1,405 170 273 906 112 540 83 751 551 111 104 2,246 190 807 110 608 23 319 109 483 1,199 430
Technical Research Team

Technical Research | April 26, 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
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Technical Research | April 26, 2012

Daily Technical Report Sensex (17151) / NIFTY (5202)

Exhibit 1: Nifty Daily Chart

For Private Circulation Only |

Technical Research | April 26, 2012

Bank Nifty Outlook - (10160)

For Private Circulation Only |

Technical Research | April 26, 2012

Stock Name TVS Motor

5 Day EMA 39.8

20 Day EMA 40.9

Remarks View will change below 38.2

For Private Circulation Only |

Technical Research | April 26, 2012

Daily Pivot Levels for Nifty 50 Stocks

Technical Research Team

Technical Research | April 26, 2012 Technical Report

Sebi Registration No: INB 010996539

For Private Circulation Only |

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