Technical Research | April 11, 2012

Daily Technical Report

Sensex (17244) / NIFTY (5244)

Exhibit 1: Nifty Daily Chart

Yesterday, the 5200 mark yet again acted as strong support

from where buying emerged in the latter half of the session.

In the end, our Benchmark indices closed near the initial

opening level. On sectoral front, FMCG, AUTO and

Banking counters where among the major gainers, whereas

METAL, IT, and Consumer Goods stocks ended on the

losing side. The advance to decline ratio was marginally in

favor of declining counters (A=1337 D=1432) (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 17333 / 5275, respectively.

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

• The candlestick pattern on the daily chart resembles a

“Homing Pigeon”.

• Indices have taken support near

61.8% Fibonacci

Retracement level (17204 / 5228) of the rise from 16920 to

Source: Falcon

17664 / 5135 to 5379 levels.

Trading strategy:

Actionable points:

View

Neutral

Yesterday, indices opened on a flat note and traded in a

Resistance Levels

5256 - 5288 - 5339

narrow range throughout the day to close below 5250

Support Levels

5200 - 5135

mark. Now on the Daily chart, we are observing a

candlestick pattern which resembles a “Homing Pigeon”

Conversely, the high of “Homing Pigeon” 17275 / 5256

which needs confirmation in the form of closing above the

would act as a resistance in today’s trading session. A

high. However, there are no significant changes in rest of

sustainable move beyond this level may result further upside

the technical evidences mentioned in our previous report.

and indices are likely to test 17407 - 14554 / 5288 - 5339

Also, the global cues suggest that our markets may open in

levels.

red. Therefore, we are of the opinion that if indices sustain

below yesterday’s low of 17135 / 5211 then they are likely

to slide towards the next support levels of 17100 - 16920 /

5200 - 5135 levels.

For Private Circulation Only |

Technical Research | April 11, 2012

Bank Nifty Outlook - (10196)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on a flat note, tested our

mentioned support level of

10100 to bounce back

sharply during the last hour of trade. We are witnessing a

“Bullish Harami” candlestick pattern near

61.8%

Fibonacci retracement of the rise from March 29, 2012 -

April 03, 2012. The said pattern requires confirmation in

the form of closing above 10210. We are also witnessing

positive crossover in “RSI - Smoothened” oscillator on the

hourly chart and the possibility of an up - move cannot be

ruled out. Thus if the index sustains above yesterday’s

high of 10210 then it is likely to rally towards the

resistance zone of 10320 - 10355. In this rally, we expect

SBI, ICICI, IndusInd bank and Uco Bank to give

substantial returns. On the downside, 10075 - 9986 are

likely to act as support in coming trading session.

Actionable points:

View

Neutral

Resistance Levels

10320 - 10355

Support Levels

10075 - 9986

Source: Falcon

For Private Circulation Only |

Technical Research | April 11, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,079

17,162

17,218

17,300

17,357

NIFTY

5,193

5,218

5,237

5,262

5,281

BANKNIFTY

10,028

10,112

10,161

10,245

10,294

ACC

1,278

1,289

1,306

1,317

1,333

AMBUJACEM

161

164

168

171

175

AXISBANK

1,131

1,142

1,151

1,162

1,171

BAJAJ-AUTO

1,619

1,633

1,649

1,664

1,680

BHARTIARTL

326

328

330

332

335

BHEL

249

252

258

262

268

BPCL

628

648

665

685

703

CAIRN

334

341

347

354

359

CIPLA

305

308

311

314

317

COALINDIA

327

330

334

337

341

DLF

199

201

205

207

210

DRREDDY

1,668

1,691

1,723

1,747

1,779

GAIL

311

333

347

369

382

HCLTECH

479

485

493

500

508

HDFC

662

667

671

676

679

HDFCBANK

512

518

522

529

532

HEROMOTOCO

1,926

1,952

1,970

1,996

2,014

HINDALCO

121

123

125

128

130

HINDUNILVR

400

407

412

420

425

ICICIBANK

845

854

864

874

884

IDFC

129

131

133

135

137

INFY

2,675

2,723

2,785

2,834

2,896

ITC

221

225

228

232

234

JINDALSTEL

488

494

503

510

519

JPASSOCIAT

KOTAKBANK

527

537

543

553

559

1,255

1,270

1,291

1,306

1,327

M&M

677

686

691

699

704

MARUTI

1,243

1,259

1,277

1,294

1,312

NTPC

160

161

162

164

165

ONGC

258

261

266

269

274

PNB

891

899

908

916

926

POWERGRID

108

109

110

111

112

RANBAXY

473

479

488

493

503

RCOM

RELIANCE

734

738

743

747

751

RELINFRA

550

562

575

586

599

RPOWER

113

116

119

122

124

SAIL

SBIN

2,072

2,112

2,134

2,174

2,196

SESAGOA

179

181

184

186

189

SIEMENS

756

769

777

790

799

STER

102

103

105

106

108

SUNPHARMA

553

560

565

572

577

SUZLON

TATAMOTORS

272

278

281

287

291

TATAPOWER

101

103

106

108

TATASTEEL

444

448

454

459

465

TCS

1,138

1,147

1,161

1,170

1,185

WIPRO

435

440

445

450

455

Technical Research Team

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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

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