Technical Research | April 04, 2012

Daily Technical Report

Sensex (17597) / NIFTY (5359)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a gap up opening in-line with other

global bourses and subsequently managed to hold their

early gains throughout the session. Eventually, indices

closed marginally above 5350 mark. On sectoral front,

Consumer Durables, Capital Goods and Oil & Gas

counters were among the major gainers, whereas Health

Care and Auto sectors ended with a nominal loss. The

advance to decline ratio was strongly in favor of advancing

counters (A=1796 D=1022) (Source -www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

17100 / 5150 and 17380 / 5284, respectively.

• The ‘20-Week EMA’ is placed at 17200 / 5200 level.

• We are witnessing a ‘Downward Sloping Trend Line’

resistance around 17630 / 5380 level.

• The daily ‘RSI-Smoothened’ momentum oscillator has

Source: Falcon

given a positive crossover.

Actionable points:

Trading strategy:

View

Neutral

Yesterday, after a gap up opening our indices traded with

Resistance Levels

5380 - 5430

positive bias in the first half of the trading session. As

Support Levels

5325 - 5300

expected, the Indices faced resistance near the ‘Downward

Sloping Trend Line’ mentioned in our previous reports near

5380 level. At this juncture, the placement of “5 & 20

EMA” on the Daily chart suggests that positive momentum is

likely to continue once indices trade convincingly above the

‘Downward Sloping Trend Line” which coincides with

Yesterday’s high of 17664 / 5379. In such scenario, indices

are likely to rally further towards 17700 - 17836 / 5400 -

5430 levels. Since the momentum oscillators on the hourly

chart are in overbought zone, a consolidation or a minor

pullback cannot be ruled out. On the downside, 17500 -

17420 / 5325 - 5300 levels can act as a decent support

for the markets in coming trading session.

For Private Circulation Only |

Technical Research | April 04, 2012

Bank Nifty Outlook - (10433)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened with an upside gap in line

with our benchmark indices and traded in a narrow

range throughput the session. The positive crossover in

“RSI and Stochastic” momentum oscillator on the daily

chart mentioned in our previous report is still intact.

However, the momentum oscillators on the hourly chart

are negatively poised hence possibility of a minor

pullback cannot be ruled out. On the downside, a fall

below 10376 will confirm the pullback and index may

drift towards 10251 - 10174. On the upside, 10503 -

10580 are likely to act as resistance in coming trading

session.

Actionable points:

View

Neutral

Resistance Levels

10503 - 10580

Support Levels

10376 - 10251 - 10174

Source: Falcon

For Private Circulation Only |

Technical Research | April 04, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,516

17,557

17,611

17,651

17,705

NIFTY

5,326

5,342

5,361

5,377

5,395

BANKNIFTY

10,310

10,372

10,437

10,498

10,564

ACC

1,341

1,353

1,363

1,375

1,385

AMBUJACEM

167

169

172

173

176

AXISBANK

1,147

1,162

1,173

1,188

1,199

BAJAJ-AUTO

1,621

1,634

1,652

1,665

1,683

BHARTIARTL

330

334

339

342

347

BHEL

256

260

265

269

274

BPCL

673

689

699

715

725

CAIRN

338

347

353

363

369

CIPLA

308

310

312

314

316

COALINDIA

337

340

344

347

350

DLF

203

205

208

210

213

DRREDDY

1,643

1,668

1,711

1,736

1,779

GAIL

376

380

383

386

389

HCLTECH

495

500

503

509

512

HDFC

679

683

686

690

693

HDFCBANK

523

527

532

535

540

HEROMOTOCO

1,965

1,987

2,027

2,049

2,089

HINDALCO

128

130

131

133

135

HINDUNILVR

398

401

405

408

412

ICICIBANK

888

898

908

919

929

IDFC

134

136

137

139

141

INFY

2,824

2,841

2,860

2,877

2,895

ITC

226

227

228

229

JINDALSTEL

533

538

544

549

555

JPASSOCIAT

KOTAKBANK

551

555

560

564

568

1,332

1,347

1,357

1,372

1,382

M&M

696

701

708

714

721

MARUTI

1,275

1,292

1,321

1,338

1,367

NTPC

165

166

168

169

170

ONGC

268

271

273

276

278

PNB

918

925

932

939

947

POWERGRID

108

109

110

111

112

RANBAXY

453

460

464

470

474

RCOM

RELIANCE

735

744

753

762

772

RELINFRA

602

608

615

620

628

RPOWER

118

120

122

123

125

SAIL

100

101

SBIN

2,125

2,149

2,166

2,190

2,207

SESAGOA

192

195

197

201

203

SIEMENS

763

776

785

798

807

STER

109

111

112

114

115

SUNPHARMA

561

565

571

575

581

SUZLON

TATAMOTORS

273

277

280

284

286

TATAPOWER

100

101

102

103

TATASTEEL

470

474

478

482

486

TCS

1,155

1,166

1,187

1,198

1,219

WIPRO

438

442

446

450

453

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 |