Technical Research | February 14, 2012

Daily Technical Report

Sensex (17773) / NIFTY (5390)

Exhibit 1: Nifty Daily Chart

Yesterday, for yet another session markets traded with

extreme volatility throughout the day. Indices have been

trading in this narrow range of 17579 - 17890 / 5322 -

5428 for the past six trading sessions. On the sectoral front,

Metal, Auto and Consumer Durables counters were among

the major gainers, whereas Capital Goods and Teck

counters ended in a negative territory. The advance to

decline ratio was marginally in favor of advancing counters.

(A=1496 D=1381) (Source -www.bseindia.com)

Formation:

• On the Weekly chart, indices are hovering around the

“Horizontal Resistance Line” placed at 17908 / 5400

level.

• The Weekly chart depicts a “Doji” formation.

• The 200-day SMA and 20-day EMA are placed at

17235 / 5178 and 17160 / 5185, respectively.

• The “RSI-Smoothened” oscillator on the daily chart is

Source: Falcon

placed in extreme overbought territory.

Actionable points:

Trading strategy:

View

Positive Above 5428

After a quiet opening, once again for the sixth consecutive

Expected targets

5552 - 5702

session, indices traded in a narrow range of 17579 -

Support level

5322

17890 / 5322 - 5428. Therefore, we reiterate our view that

a break out on either side would decide next move. On the

Actionable points:

downside, the negative outlook will be confirmed only if

View

Negative Below 5322

indices sustain below the low of 17579 / 5322. In this case,

Expected targets

5250 - 5185

we may witness a corrective move up to 17200 - 17000 /

Resistance level

5428

5250 - 5185 levels, which also coincides with the support

zone of 200-Day SMA and 20-day EMA. Conversely, a

break out above 17890 / 5428 may attract strong buying

interest which would then push indices to test next resistance

zone of 18440 - 18932 / 5552 - 5702.

For Private Circulation Only |

Technical Research | February 14, 2012

Bank Nifty Outlook - (10474)

Exhibit 2: Bank Nifty Daily Chart

In Yesterday’s trading session, we witnessed high volatility

in case of the Bank Nifty mainly on account of the results

declared by country’s largest bank, State Bank of India.

However, this volatility was within the mentioned range

and no breakout or breakdown is visible on charts. We

are again witnessing a “Doji” candle stick formation in

yesterday’s session. Also, the “Bearish Harami” candle

stick pattern mentioned in our previous report is still

intact. The index has failed to close above 10555 levels.

Therefore, if the index manages to sustain below

yesterday’s low of 10335 then it is likely to drift towards

10183 - 10150 levels. On the upside, 10533 - 10555

levels are likely to act as resistance in coming trading

session.

Actionable points:

View

Negative Below 10335

Expected Target

10183 - 10150

Resistance levels

10533 - 10555

Source: Falcon

Stock Recommendations:

Exhibit 3: NATIONAL FERTISLISERS (NSE CASH)

Stock - NATIONAL FERTILISERS (NSE CASH)

Action - Buy

Last close

- ` 93.00

Buying Range

- ` 93 - 88

Stop Loss

- ` 85.00

Target

- ` 104.00

Justification - The stock has given a trend line breakout at `

88.50 along with humongous volumes on Daily chart.

Further, it is trading convincingly above “200-day SMA”

since past 15 - 20 trading sessions, which shows positivity

in the stock. We are also observing a continue rise in the

value of “ADX (14)” indicator, which is currently placed at

34.83. This indicates strength of the present uptrend. Thus,

buy this stock on declines up to ` 88 for a target of ` 104 in

coming 1-2 weeks.

Source: Falcon

For Private Circulation Only |

Technical Research | February 14, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

17,579

17,676

17,763

17,860

17,947

NIFTY

5,318

5,354

5,388

5,424

5,457

BANKNIFTY

10,250

10,362

10,447

10,559

10,645

ACC

1,317

1,336

1,355

1,374

1,393

AMBUJACEM

166

168

170

172

174

AXISBANK

1,098

1,107

1,118

1,127

1,137

BAJAJ-AUTO

1,719

1,733

1,749

1,763

1,779

BHARTIARTL

339

344

348

352

356

BHEL

256

259

261

264

266

BPCL

577

583

593

599

608

CAIRN

366

369

374

377

383

CIPLA

331

336

345

351

359

DLF

330

333

337

340

344

DRREDDY

213

222

227

236

241

GAIL

1,603

1,615

1,627

1,638

1,650

HCLTECH

381

385

389

392

397

HDFC

461

465

470

474

479

HDFCBANK

690

693

696

699

702

HEROMOTOCO

512

517

521

526

530

HINDALCO

1,942

1,978

1,999

2,034

2,055

HINDUNILVR

148

152

154

158

161

ICICIBANK

384

388

391

395

397

IDFC

906

921

933

947

960

INFY

130

132

134

136

137

ITC

2,739

2,764

2,782

2,807

2,825

JINDALSTEL

201

202

203

204

206

JPASSOCIAT

581

593

604

616

627

KOTAKBANK

535

551

560

576

586

M&M

1,295

1,312

1,333

1,350

1,371

MARUTI

685

695

702

712

719

NTPC

1,190

1,207

1,233

1,251

1,276

ONGC

178

179

181

182

184

PNB

276

278

282

285

289

POWERGRID

967

981

995

1,009

1,024

RANBAXY

105

107

109

111

113

RCOM

430

435

441

445

452

RELCAPITAL

RELIANCE

832

841

850

858

867

RELINFRA

552

577

591

616

630

RPOWER

102

104

106

109

111

SAIL

105

107

111

114

118

SBIN

2,051

2,090

2,135

2,175

2,220

SESAGOA

221

233

243

256

266

SIEMENS

768

787

799

818

830

STER

124

127

130

133

136

SUNPHARMA

541

547

553

560

566

SUZLON

TATAMOTORS

251

254

258

261

265

TATAPOWER

104

106

109

111

113

TATASTEEL

458

472

480

494

503

TCS

1,202

1,214

1,226

1,238

1,250

WIPRO

427

432

440

445

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 |