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    Technical Report 4th January 2012

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    Angel Broking
    The daily technical report summarizes the movement in key indices like Sensex and Nifty the previous day. Both indices opened with gains and rose over 3% during the day led by sectors like metals, capital goods, and banking. Technical indicators like RSI and stochastic are showing positive crossover signals, suggesting the momentum may continue. The report recommends trading with a positive bias if the indices sustain above resistance levels of 16070/4820. Key support levels are also provided.

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    Technical Report 4th January 2012

    Uploaded by

    Angel Broking
    119 views5 pages
    The daily technical report summarizes the movement in key indices like Sensex and Nifty the previous day. Both indices opened with gains and rose over 3% during the day led by sectors like metals, capital goods, and banking. Technical indicators like RSI and stochastic are showing positive crossover signals, suggesting the momentum may continue. The report recommends trading with a positive bias if the indices sustain above resistance levels of 16070/4820. Key support levels are also provided.

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    The daily technical report summarizes the movement in key indices like Sensex and Nifty the previous day. Both indices opened with gains and rose over 3% during the day led by sectors like metals, capital goods, and banking. Technical indicators like RSI and stochastic are showing positive crossover signals, suggesting the momentum may continue. The report recommends trading with a positive bias if the indices sustain above resistance levels of 16070/4820. Key support levels are also provided.

    Copyright:

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

    Technical Report 4th January 2012

    Uploaded by

    Angel Broking
    The daily technical report summarizes the movement in key indices like Sensex and Nifty the previous day. Both indices opened with gains and rose over 3% during the day led by sectors like metals, capital goods, and banking. Technical indicators like RSI and stochastic are showing positive crossover signals, suggesting the momentum may continue. The report recommends trading with a positive bias if the indices sustain above resistance levels of 16070/4820. Key support levels are also provided.

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

    Technical Research | January 04, 2012

    Daily Technical Report


    Sensex (15939) / NIFTY (4765)
    Yesterday, markets opened with a decent upside gap on the back of strong global cues. The positive momentum continued throughout the day and indices registered a massive 3% intraday rally. On the sectoral front, Metal, Capital Goods, Realty and Banking sectors contributed heavily in yesterdays rally. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of gaining counters. (A=1863 D=860). (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation
    The 20 day EMA has now shifted to 15839 / 4743 level. On the Daily chart, we are witnessing a positive

    crossover in momentum oscialltors viz., the RSI and the Stochastic. Also, 3 & 8 EMA and ADX (9) indicator has given a positive crossover.
    Source: Falcon

    Trading strategy:
    As mentioned in our yesterdays report, indices opened firmly above the high of the Dragon Fly Doji candlestick pattern and the bullish implication was clearly seen. As a result, indices closed well above the 20 day EMA which is now placed at 15839 / 4743 level. We are now observing a positive crossover in few technical indicators, such as, RSI, Stochastic, 3 & 8 EMA and ADX (9). Looking at these technical tools and yesterdays strong closing above 20 day EMA, the possibility of breaking strong resistance zone of 16020 16070 / 4800 4820 is significantly high. The closing above 16070 / 4820 would also lead to a confirmation of Higher Top Higher Bottom formation on the daily chart. Therefore, we advise traders to trade with a positive bias if indices manage to sustain above 16070 / 4820 level. In this case, indices are likely to rally towards 16286 16421/ 4881 4920 levels. On the downside, 15640 - 15542 / 4675 4645 levels may act as support in coming trading sessions.

    Actionable points:
    View Expected Targets Support levels Positive Above 4820 4881 4920 4675 4645

    For Private Circulation Only |

    Technical Research | January 04, 2012

    Bank Nifty Outlook - (8340)


    Yesterday, Bank Nifty opened with an upside gap in line with our benchmark indices and continued to move higher to close near the highest point of the day. The index ended with 4.32% gains and above 8300 mark. Bank Nifty opened well above the Hammer (8028) mentioned in our previous report and surpassed all the intermediate resistances to test the 20 Day EMA placed near 8330 level. On the Daily chart, we are now witnessing a positive crossover in momentum oscillators viz. RSI and Stochastic, which suggest momentum on the upside is likely to continue. Going forward, Bank Nifty may test 8450 8600 levels once it crosses 8356 level. On the downside, 8180 8130 levels may now act as a strong support as these are the 38.2% and 50% Fibonacci retracement levels of the entire rise from 7888 8356 respectively. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Expected Target Support Level
    Positive Above 8356

    8450 8600 8180 8130

    Source: Falcon

    For Private Circulation Only |

    Technical Research | January 04, 2012

    Positive Bias:

    Stock Name Orient Bank EKC RCOM

    CMP 204.4 26 74.3

    5 Day EMA 202 26.3 71.8

    20 Day EMA 226 31.4 71.1

    Expected Target 214 31 80

    Remarks View will change below 196.5 View will change below 24.5 View will change below 69.7

    For Private Circulation Only |

    Technical Research | January 04, 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 15,520 4,641 7,973 1,109 150 789 1,429 340 234 460 313 319 178 1,562 383 392 650 426 1,754 112 402 696 92 2,790 198 451 52 415 1,004 642 930 157 258 759 99 410 71 230 704 331 70 81 1,619 154 629 90 493 18 183 87 337 1,166 395 S1 15,730 4,703 8,157 1,126 152 814 1,462 349 241 467 321 324 185 1,584 388 398 658 432 1,791 114 405 711 94 2,827 199 469 54 432 1,032 653 941 159 260 781 100 418 73 239 714 342 71 83 1,662 159 648 92 496 18 189 90 349 1,182 406 PIVOT 15,850 4,738 8,256 1,143 156 828 1,483 355 246 472 326 327 189 1,598 391 402 663 437 1,838 115 408 720 95 2,857 200 481 54 443 1,049 667 953 160 262 793 101 423 74 245 721 348 72 83 1,686 162 659 93 499 19 192 91 357 1,196 412 R1 16,060 4,800 8,440 1,160 158 852 1,515 364 253 478 334 331 195 1,620 396 407 671 443 1,875 117 411 735 98 2,894 202 499 55 461 1,077 678 965 162 265 815 102 431 75 254 731 358 73 85 1,729 166 678 96 502 19 197 94 369 1,212 422 R2 16,180 4,835 8,540 1,176 162 866 1,536 370 259 483 339 334 199 1,634 399 411 676 448 1,922 118 415 744 99 2,924 203 511 56 471 1,093 691 976 163 267 827 102 436 76 259 737 364 74 85 1,753 169 689 97 504 19 200 96 376 1,226 428

    Technical Research Team


    For Private Circulation Only |

    Technical ResearchTechnical04, 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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