Technical Research | April 16, 2012

Daily Technical Report

Sensex (17095) / NIFTY (5207)

Exhibit 1: Nifty Daily Chart

On Friday, our Benchmark indices opened flat and traded

with positive bias during the initial hour of the session to test

the mentioned resistance zone of 5300. However, during

the latter half, we witnessed a fall of more than 2% from

day’s high and Nifty closed marginally above 5200 mark.

On sectoral front, IT, and Teck counters contributed heavily

in the fall whereas Health Care and FMCG sectors ended

with marginal gains. The advance to decline ratio was in

favor of declining counters (A=1236 D=1567) (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 17400 / 5300, respectively.

Source: Falcon

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

• We are witnessing a ‘Downward Sloping Trend Line’

Actionable points:

resistance around 17400 / 5300 level.

View

Neutral

Resistance levels

5255-5307

Support Levels

5170 - 5135

Trading strategy:

Considering, Friday’s sharp correction during the second

On account of significant selling pressure in Friday’s

half, we advise traders to stay light on positions and trade

session, markets tumbled down from the day’s high and

with strict stop losses.

closed almost at the lowest point of the week. Indices are

now approaching a strong support zone comprising of the

‘20-week EMA’ and ‘200-day SMA’. This support zone is at

17200 - 17100 / 5200 - 5150 levels. Therefore, going

forward, ONLY if indices sustain below recent swing low of

16920 / 5135, we may witness intense selling pressure and

markets are likely to drift towards the next support levels of

16828 - 16600 / 5076 - 5000. Conversely, 17400 / 5300

level is now a crucial resistance for the indices. Only a

sustainable move, with strong volumes, above the weekly

high 17408 / 5307 will indicate resumption of a strong

uptrend. Indices then may rally towards 17664 - 18041 /

5379 - 5500 levels.

For Private Circulation Only |

Technical Research | April 16, 2012

Bank Nifty Outlook - (10306)

Exhibit 2: Bank Nifty Daily Chart

On Friday’s session, Bank Nifty opened with an upside

gap and traded in a narrow range during first half of the

session. However during the second half strong selling

pressure pushed the index to test the mentioned support

level of 10250. As expected we witnessed high volatility

during Friday’s session. The ADX

(14) indicator is

currently placed at 11.38 which suggest that the current

trend is sideways. Moreover, the positioning of the

momentum oscillators on the daily chart reflects lack of

confidence amongst trading participants. Going into the

policy week we may witness volatility in Bank Nifty. On

the upside 10588 - 10625 levels are likely to act as

resistance and 10130 - 10000 levels are likely to act as

support in coming trading sessions.

Source: Falcon

Actionable points:

View

Neutral

Resistance Levels

10588 - 10625

Support Levels

10130 - 10000

For Private Circulation Only |

Technical Research | April 16, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS

PIVOT

SENSEX

16,802

16,948

17,173

17,319

17,544

NIFTY

5,112

5,160

5,233

5,281

5,355

BANKNIFTY

10,024

10,165

10,377

10,518

10,729

ACC

1,221

1,240

1,272

1,291

1,324

AMBUJACEM

157

160

163

166

170

AXISBANK

1,118

1,140

1,178

1,201

1,239

BAJAJ-AUTO

1,597

1,618

1,653

1,674

1,708

BHARTIARTL

316

320

324

328

333

BHEL

250

254

258

262

266

BPCL

662

670

681

689

701

CAIRN

337

339

342

344

347

CIPLA

310

312

314

316

318

COALINDIA

330

335

340

344

349

DLF

191

195

200

203

208

DRREDDY

1,687

1,711

1,725

1,749

1,763

GAIL

347

352

359

363

371

HCLTECH

466

473

481

488

496

HDFC

672

676

681

685

690

HDFCBANK

516

523

530

537

544

HEROMOTOCO

2,000

2,028

2,063

2,092

2,127

HINDALCO

121

123

126

128

132

HINDUNILVR

420

423

425

428

431

ICICIBANK

822

843

872

894

922

IDFC

127

130

134

137

142

INFY

2,305

2,354

2,438

2,487

2,572

ITC

229

232

237

240

245

JINDALSTEL

474

486

503

515

532

JPASSOCIAT

KOTAKBANK

561

571

578

588

594

1,243

1,263

1,295

1,314

1,346

M&M

677

684

698

705

718

MARUTI

1,291

1,307

1,328

1,344

1,366

NTPC

164

165

167

169

170

ONGC

254

257

261

265

268

PNB

875

889

910

924

945

POWERGRID

109

111

112

113

115

RANBAXY

484

492

506

514

528

RCOM

RELIANCE

726

739

750

763

775

RELINFRA

521

534

554

566

586

RPOWER

111

113

116

118

122

SAIL

SBIN

2,142

2,177

2,230

2,266

2,319

SESAGOA

181

184

188

190

194

SIEMENS

769

780

798

810

828

STER

104

105

108

109

111

SUNPHARMA

563

574

583

594

603

SUZLON

TATAMOTORS

283

286

290

294

298

TATAPOWER

100

101

104

105

107

TATASTEEL

438

444

453

459

469

TCS

1,035

1,052

1,078

1,095

1,122

WIPRO

399

409

423

434

448

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

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