Technical Research | July 28, 2011
Daily Technical Report
Sensex (18432) / NIFTY (5547)
Markets opened on a subdued note and traded with negative
Exhibit 1: Sensex Daily Chart
bias during the major part of the trading session to close in the
red. On the sector front, Consumer Goods, Power and
Banking were among the major losers whereas Consumer
Durables ended on a gaining side. The advance decline
ratio was in favor of declining counters (A=1345 D=1498).
Formation
On the Daily chart, we are witnessing a breakdown of
Source: Falcon
an upward sloping trend line joining two lows of 17314 &
18415 / 5195 & 5532.
Trading strategy:
Markets opened flat but couldn't sustain and selling pressure
dragged indices lower to breach the intraday support level of
18415 / 5532. Due to Derivative expiry, the coming trading
session is likely to trade with extreme volatility. On the downside,
if indices break 18358 / 5521 then they may test 18326 -
18223 / 5496 - 5468. Negative momentum is likely to intensify
below 18326 / 5496 levels and the fall may be with strong
volumes. On the upside, 18580 / 5592 level may act as a
resistance for coming trading session.
For Private Circulation Only | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
1
Technical Report
RESEARCH TEAM
Shardul Kulkarni
Head - Technicals
Mileen Vasudeo
Technical Analyst
Sameet Chavan
Technical Analyst
Sacchitanand Uttekar
Technical Analyst
Mehul Kothari
Technical Analyst
Research Team: 022-3952 6600
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 infor-
mation 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 | Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP00000154 6 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE: INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
