Technical Research | October 25, 2011

Daily Technical Report

Sensex (16939) / NIFTY (5098)

Markets opened with an upside gap and moved again

Exhibit 1: Nifty Daily Chart

towards the resistance zone of 17100 - 17200 / 5160 -

5177. During the second half selling pressure intensified

which dragged indices lower to close below its iniatial

opening level. On the sector front, IT, Auto and Teck

counters were among the gainers whereas Capital Goods

sector ended on a losing side. The advance decline ratio

was in favor of declining counters (A=1278 D=1528).

(Source -www.bseindia.com)

Formation

• On the Weekly chart, there is a “Horizontal Line”

resistance at 17256 / 5198 level.

• The “20 EMA” on the Weekly chart is now placed at

17215 / 5172 level.

Source: Falcon

• On the Daily chart, the “20 EMA” is placed at 16714 /

5025 level.

Actionable points:

Trading strategy:

Indices opened significantly higher on the back of positive

View

Neutral

sentiments across global indices and subsequently moved

Resistance Levels

5177 - 5198

Support Levels

5011 - 4944

towards the stiff resistance zone of 17100 - 17200 / 5160

- 5177 where once again we witnessed strong selling

pressure. As mentioned earlier, until and unless indices

don’t break out of the trading range of 17256 to 16669 /

5198 to 5011 on either side, we may not get clear direction

of the trend. Thus, going forward, 17200 - 17256 / 5177 -

5198 levels remain to be a strong resistance zone. On the

downside, indices have a decent support around 16714 -

16669 / 5025 - 5011 levels. A breach of these levels may

attract selling pressure which would drag indices lower to

test 16460 - 16300 / 4944 - 4890 levels.

The coming trading session is likely to trade with immense

volatility on account of “RBI Monetary Policy” and Derivative

expiry.Therefore, we advise traders to stay light on positions

and trade with strict stop losses.

For Private Circulation Only |

Technical Research | October 25, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,775

16,857

16,981

17,063

17,187

NIFTY

5,049

5,074

5,110

5,134

5,170

BANKNIFTY

9,414

9,531

9,724

9,841

10,034

ACC

1,117

1,125

1,135

1,144

1,154

AMBUJACEM

148

149

152

154

156

AXISBANK

1,134

1,151

1,170

1,187

1,206

BAJAJ-AUTO

1,635

1,665

1,685

1,715

1,735

BHARTIARTL

374

378

382

386

389

BHEL

311

315

321

324

330

BPCL

637

640

644

648

652

CAIRN

285

288

292

295

298

CIPLA

286

288

289

291

292

DLF

223

226

229

232

236

DRREDDY

1,530

1,537

1,546

1,553

1,562

GAIL

417

421

425

429

432

HCLTECH

415

420

423

427

430

HDFC

627

634

641

648

655

HDFCBANK

474

479

488

493

502

HEROMOTOCO

2,046

2,059

2,075

2,088

2,104

HINDALCO

121

122

124

125

127

HINDUNILVR

324

330

334

341

345

ICICIBANK

839

854

876

890

912

IDFC

120

122

123

125

126

INFY

2,728

2,747

2,761

2,781

2,795

ITC

202

205

206

209

210

JINDALSTEL

511

521

533

543

555

JPASSOCIAT

KOTAKBANK

464

468

472

476

480

1,253

1,274

1,312

1,333

1,371

M&M

804

807

811

814

818

MARUTI

1,096

1,104

1,114

1,123

1,133

NTPC

169

170

172

173

174

ONGC

263

270

274

280

284

PNB

935

953

980

998

1,026

POWERGRID

100

101

102

RANBAXY

497

501

506

510

515

RCOM

RELCAPITAL

323

329

336

341

349

RELIANCE

838

842

848

852

858

RELINFRA

395

401

408

414

420

RPOWER

SAIL

104

105

106

107

109

SBIN

1,825

1,867

1,928

1,970

2,031

SESAGOA

202

205

209

212

216

SIEMENS

798

807

824

833

850

STER

105

110

115

121

125

SUNPHARMA

464

473

487

496

510

SUZLON

TATAMOTORS

181

183

185

188

190

TATAPOWER

100

TATASTEEL

429

433

438

442

448

TCS

1,044

1,062

1,077

1,095

1,110

WIPRO

350

354

360

364

369

Technical Research Team

For Private Circulation Only |

Technical Report

RESEARCH TEAM

Shardul Kulkarni

Head - Technicals

Sameet Chavan

Technical Analyst

Sacchitanand Uttekar

Technical Analyst

Mehul Kothari

Technical Analyst

Ankur Lakhotia

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 |