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    Technical Report 1st February 2012

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    Angel Broking
    - The Indian stock market indices opened higher and continued their positive momentum throughout the trading session, closing near their highest levels for the day led by gains in banking, realty, and auto stocks. - The indices are expected to rally further if they can sustain above key resistance levels of 17,384/5,220, with support seen at 16,965/5,120. Traders are advised to adopt a stock-specific approach. - Bank Nifty is near its resistance zone of 9,970-10,080 and some consolidation or minor correction is expected as it approaches these levels, with support at 9,703-9,625.

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    Technical Report 1st February 2012

    Uploaded by

    Angel Broking
    202 views5 pages
    - The Indian stock market indices opened higher and continued their positive momentum throughout the trading session, closing near their highest levels for the day led by gains in banking, realty, and auto stocks. - The indices are expected to rally further if they can sustain above key resistance levels of 17,384/5,220, with support seen at 16,965/5,120. Traders are advised to adopt a stock-specific approach. - Bank Nifty is near its resistance zone of 9,970-10,080 and some consolidation or minor correction is expected as it approaches these levels, with support at 9,703-9,625.

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    - The Indian stock market indices opened higher and continued their positive momentum throughout the trading session, closing near their highest levels for the day led by gains in banking, realty, and auto stocks. - The indices are expected to rally further if they can sustain above key resistance levels of 17,384/5,220, with support seen at 16,965/5,120. Traders are advised to adopt a stock-specific approach. - Bank Nifty is near its resistance zone of 9,970-10,080 and some consolidation or minor correction is expected as it approaches these levels, with support at 9,703-9,625.

    Copyright:

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

    Technical Report 1st February 2012

    Uploaded by

    Angel Broking
    - The Indian stock market indices opened higher and continued their positive momentum throughout the trading session, closing near their highest levels for the day led by gains in banking, realty, and auto stocks. - The indices are expected to rally further if they can sustain above key resistance levels of 17,384/5,220, with support seen at 16,965/5,120. Traders are advised to adopt a stock-specific approach. - Bank Nifty is near its resistance zone of 9,970-10,080 and some consolidation or minor correction is expected as it approaches these levels, with support at 9,703-9,625.

    Copyright:

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

    Technical Research | February 01, 2012

    Daily Technical Report Sensex (17194) / NIFTY (5199)


    Yesterday, unexpectedly our benchmark indices opened significantly higher in-line with strong cues from other Asian markets. This positive momentum stayed throughout the day to close almost at the highest point of the day. On the sectoral front, Banking, Realty and Auto counters contributed heavily in yesterdays strong up move. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of advancing counters. (A=1804 D=1034) (Source -www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation:
    The 200-day SMA is placed at 17332 / 5202 level. The negative crossover in RSI momentum oscillator is

    still intact. The 20-day EMA is placed around 16493 / 4964.


    Source: Falcon

    Trading strategy:
    Markets opened on an optimistic note mainly due to strong global cues and traded with positive bias as rupee continued to appreciate till the end of the session. As a result, indices closed almost at the highest point of the day. Going forward, if indices manage to sustain above 17384 / 5220 level, then they are likely to rally towards the next resistance zone of 17702 17908 / 5326 5400. On the other hand, 16965 / 5120 level may act as support in coming trading sessions. Traders are advised to adopt stock specific approach and follow strict stop losses.

    Actionable points:
    View Resistance levels Support level Neutral 5220 5326 5120

    For Private Circulation Only |

    Technical Research | February 01, 2012

    Bank Nifty Outlook - (9919)


    In yesterdays session, Bank Nifty opened on an optimistic note in line with our benchmark indices and gained strength as the day progressed to close near the highest point of the day. Positive results from ICICI BANK provided further fillip and the index surged even higher. Bank Nifty is now very near to its resistance zone of 9970 10080. Hence we expect some consolidation or minor correction as the index approaches these levels. On the downside 9703 9625 levels are likely to act as support in coming trading session. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Resistance Levels Support Levels
    Neutral 9970 10080 9703 9625
    Source: Falcon

    For Private Circulation Only |

    Technical Research | February 01, 2012

    Positive Bias:
    Expected Target 235 95

    Stock Name Indian Bank Hexaware

    CMP 220.80 84.75

    5 Day EMA 216.2 82.5

    20 Day EMA 204.1 81.3

    Remarks View will change below 215.95 View will change below 80.45

    Negative Bias:
    Expected Target 1100

    Stock Name Maruti

    CMP 1186.7

    5 Day EMA 1179.3

    20 Day EMA 1091.6

    Remarks View will change above 1226

    For Private Circulation Only |

    Technical Research | February 01, 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 16,878 5,083 9,510 1,166 157 1,008 1,503 348 237 551 329 334 315 202 1,627 366 426 685 474 1,790 131 369 841 123 2,687 200 531 63 471 1,260 657 1,146 168 271 886 100 441 91 794 501 93 98 1,988 195 694 110 528 26 231 101 424 1,104 408 S1 17,036 5,141 9,715 1,180 159 1,041 1,552 357 244 562 334 342 321 209 1,658 369 432 691 483 1,826 139 374 872 128 2,716 202 536 66 485 1,286 666 1,166 170 273 913 102 445 95 805 518 97 100 2,025 207 712 113 538 27 237 103 437 1,118 411 PIVOT 17,123 5,178 9,831 1,191 161 1,065 1,581 364 248 572 340 348 329 213 1,682 372 436 697 489 1,848 144 379 889 131 2,736 203 542 68 492 1,303 672 1,188 171 277 948 104 451 98 813 529 100 101 2,049 213 728 115 545 28 241 104 445 1,127 413 R1 17,281 5,236 10,035 1,204 163 1,098 1,630 372 254 582 345 355 335 220 1,713 376 441 703 498 1,884 152 384 920 136 2,765 205 547 72 506 1,329 681 1,209 173 280 976 105 455 102 825 547 104 103 2,086 224 746 118 555 29 248 105 459 1,141 416 R2 17,368 5,274 10,151 1,215 165 1,122 1,659 379 258 592 351 361 343 224 1,737 379 445 709 504 1,906 157 389 937 140 2,784 207 552 74 514 1,346 687 1,230 175 284 1,010 107 461 104 833 557 107 105 2,110 230 762 119 562 29 252 106 467 1,150 419

    Technical Research Team


    For Private Circulation Only |

    Technical Research |Technical01, 2012 February 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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