Technical Research | January 13, 2012

Daily Technical Report

Sensex (16038) / NIFTY (4831)

Exhibit 1: Nifty Daily Chart

Yesterday, markets opened on a pessimistic note in-line

with global cues. Selling pressure was seen during the first

half and indices tested mentioned support level of 16030 /

4800. A bounce from the lows during the second half of the

session led indices to close marginally in the negative

territory. On the sectoral front, IT, Teck and Oil & Gas

sectors corrected sharply in yesterday’s session, whereas

Power, Metal and Banking counters ended on a gaining

side. The advance to decline ratio was in favor of gaining

counters. (A=1421 D=1311) (Source -www.bseindia.com)

Formation:

• On the Daily chart, we are now witnessing a breakout

from the “Downward Sloping Trend Line” resistance around

16070 / 4820 level.

• The 61.8% Fibonacci retracement level of the fall from

17004 to 15135 / 5100 to 4531 is at 16286 / 4881.

Source: Falcon

• The 20 Day EMA is placed at 15915 / 4771level.

Actionable points:

Trading strategy:

View

Positive Above 4881

Expected Targets

4920 - 4976

After a gap down opening, indices remained under

Support levels

4841 - 4820

pressure during the first half and breached Wednesday’s

low of 16127 / 4841 to test mentioned support level of

16030 / 4800. Reduction in the guidance given by Infosys

(Dollar terms) led the slide in IT counters but the positive

IIP numbers provided the bulls some reason to cheer.

Going forward, 16030 / 4800 level remains to be a decent

psychological support. A move below this level may drag

indices towards the 20 Day EMA support level of 15915/

4771. On the upside, the positive momentum may resume

only if indices sustain above the key resistance level of

16286 / 4881. In this case, indices are likely to rally

towards 16421 - 16600 / 4920 - 4976 levels.

For Private Circulation Only |

Technical Research | January 13, 2012

Bank Nifty Outlook - (8930)

Exhibit 2: Bank Nifty Daily Chart

Yesterday, Bank Nifty opened on an optimistic note and

traded with positive bias throughout the session to close

marginally below the mentioned resistance level of 8950.

The positive crossover in “ADX (14)” indicator mentioned in

our previous reports is still intact. In case of individual large

cap banking majors, we are witnessing that the weekly

charts are giving the first signs of a sustainable move on the

upside. Therefore, if Bank Nifty sustains above yesterday’s

high of 9015, then it is likely to test 9105 - 9166 levels.

However, on the downside, if the index falls below 8848

level, then it is likely to undergo a minor correction and may

test 8743 - 8700 levels.

Actionable points:

View

Positive Above 9015

Expected Target

9105 - 9166

Support Levels

8848 - 8743 - 8700

Source: Falcon

Stock Recommendations:

Exhibit 3: SUN TV Network Ltd (NSE Cash)

Stock - SUN TV Network Ltd (NSE Cash)

Action - Buy

Last close

` 297.75

Buy Above

` 302.50

Stop Loss

` 288

Target

` 336

Justification - On the Weekly chart, we have observed that

after consolidating in the range of ` 250 - ` 300 for more

than two months, yesterday the stock has given a breakout

above ` 300 with impressive volumes. Also, the momentum

oscillators on the Daily and Monthly chart are suggesting

momentum to continue on the upside. In addition, we are

witnessing a positive crossover in Daily “ADX (9)” indicator.

Hence, we advise buying the stock ONLY above ` 302.5 for

a target of ` 336 in coming 8 - 10 trading sessions.

Source: Falcon

For Private Circulation Only |

Technical Research | January 13, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

15,844

15,941

16,060

16,157

16,276

NIFTY

4,769

4,800

4,835

4,866

4,900

BANKNIFTY

8,740

8,835

8,925

9,020

9,110

ACC

1,101

1,111

1,119

1,129

1,137

AMBUJACEM

148

149

151

152

153

AXISBANK

904

922

945

964

987

BAJAJ-AUTO

1,444

1,460

1,473

1,489

1,502

BHARTIARTL

321

324

327

330

333

BHEL

255

259

265

269

276

BPCL

494

503

510

519

525

CAIRN

317

323

328

333

338

CIPLA

334

336

341

343

348

DLF

186

189

192

195

199

DRREDDY

1,632

1,645

1,657

1,670

1,683

GAIL

379

382

385

388

391

HCLTECH

395

400

408

413

421

HDFC

654

671

686

703

718

HDFCBANK

458

462

466

470

474

HEROMOTOCO

1,765

1,789

1,806

1,830

1,847

HINDALCO

127

130

132

135

137

HINDUNILVR

385

389

393

398

402

ICICIBANK

761

771

784

794

807

IDFC

103

106

108

111

113

INFY

2,467

2,528

2,639

2,699

2,811

ITC

202

203

204

206

207

JINDALSTEL

478

482

489

494

501

JPASSOCIAT

KOTAKBANK

452

460

469

476

485

1,095

1,113

1,143

1,161

1,191

M&M

665

676

682

693

699

MARUTI

968

981

995

1,008

1,022

NTPC

158

160

161

162

164

ONGC

253

256

259

261

264

PNB

861

882

896

916

930

POWERGRID

100

101

102

RANBAXY

434

442

449

458

465

RCOM

RELCAPITAL

271

276

281

286

292

RELIANCE

720

729

741

749

761

RELINFRA

390

397

404

411

418

RPOWER

SAIL

SBIN

1,698

1,731

1,754

1,787

1,810

SESAGOA

172

179

183

191

195

SIEMENS

681

699

719

737

758

STER

100

102

104

105

SUNPHARMA

510

515

520

525

531

SUZLON

TATAMOTORS

199

203

206

210

213

TATAPOWER

TATASTEEL

376

382

387

394

399

TCS

1,045

1,067

1,091

1,113

1,137

WIPRO

376

383

390

398

405

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 |