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30th Mar, 2012

MARKET REVIEW & OUTLOOK [DAILY REPORT]

DAILY REPORT

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INDEX REVIEW & OUTLOOK Open High Low Close Change(Pts) Change

(%) 8EMA 34EMA 200EMA

5145.95 5194.30 5135.95 5178.85 -15.90 -0.31 5236.20 5279.70 5149.65

The NIFTY opened on a subdued note and traded in the narrow range for initial hours. Later on the Index witnessed selling pressure which led it to decline to an intraday low of 5135. From there on the nifty rebounded strongly and finally closed at 5178 with a marginal loss of 15 points.

Today the Index has witnessed bounce back from the long term moving average placed at 5150 levels. The index is currently trading near its multiple support zones (As we have discussed in our last weekly report). A weekly close below 5150 levels would lead index to fall further up to the level of its midterm moving average as well as 50% retracement placed at 5080 (as shown in the chart) & below that 5000--4980 levels.

Any bounce back from the range of 5150--5170, could see nifty to test resistance levels of 5220 / 5300 /5385.

DAILY REPORT

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TOP TRADES TO WATCH OUT FOR:-

Hero MotoCorp Limited CMP—` 2035.95

CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA

2035.95 2249.70 1511.00 2000.00 1968.00 2066.00 2090.00 1992.00 1968.40 1958.10

The consolidating movement of the Hero MotoCorp Limited is taking shape of an inverted Head and Shoulders pattern. This classic technical pattern suggests strong accumulation and buying interest in the stock. The measuring implication of the pattern suggests a target of `2500 / `2680 (over the midterm). On the daily chart the stock has also negated a complex head and shoulder pattern, indicating that the stock will gain upward momentum in coming sessions. The momentum indicator has also registered a fresh buy crossover and is in rising mode.

We recommend traders to buy now with and again on dips up to `2000--`2010 with a stop placed below `1954 for the targets of `2120 / `2200 followed by `2280.

Asian Paints Limited CMP—` 3188.50

CLOSE 52-H 52-L SUP-1 SUP-2 RES-1 RES-2 8EMA 34EMA 200EMA

3188.50 3387.00 2485.25 3150.00 3128.00 3250.00 3300.00 3118.05 3084.30 3032.45

The share price of Asian Paints Limited is forming an inverted head and shoulder pattern on the daily chart. The stock has been sustaining above its short, medium and long term moving averages. The neckline for the stock is placed at `3250 levels. The momentum indicators are indicating that the stock will continue its current trend. Trading above neckline the stock can head towards the targets of ` 3385 -- `3420 followed by `3800 in the midterm.

We recommend buy at CMP and again on dips up to `3140--` 3155 with a stop loss placed below 3084 for aforementioned targets.

DAILY REPORT

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Disclaimer

This document has been prepared by Mitesh Thacker. This document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction and is only an expression of technical views. The information contained herein is from publicly available data or other sources believed to be reliable, but we do not represent that it is accurate or complete and it should not be relied on as such. Kindly note that we shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigation 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 his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all market participants.

We and our affiliates, may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (is) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as advisor or lender/borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation and related information and opinions. This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject us to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe, any such restrictions. The information given in this document is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. We reserve the right to make modifications and alterations to this statement as may be required from time to time and are under no obligation to update or keep the information current. Nevertheless, we are committed to providing independent and transparent recommendation to our clients and would be happy to provide any information in response to specific client queries. Neither we nor any of our affiliates shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Past performance is not necessarily a guide to future performance. The disclosures of interest statements incorporated in this document are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report.