Technical Report 19th March 2012

8/2/2019 Technical Report 19th March 2012

http://slidepdf.com/reader/full/technical-report-19th-march-2012 1/5

For Private Circulation Only | 1

Technical Research | March 19, 2012

On Friday, our Benchmark indices opened on a pessimistic

note and traded with extreme volatility throughout the

session to close marginally above the 5300 mark. On the

sectoral front, Oil & Gas, Power and Consumer Goods

were among the major looser, whereas FMCG ended on a

gaining side. The advance to decline ratio was strongly in

favor of declining counters. (A= 1044 D= 1801) (Source –

www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

17164 / 5163 and 17607 / 5350, respectively.

• The “20-Week EMA” is placed at 17150 / 5188 level.

• The Daily momentum oscillators and “3 & 8 EMA” are

negatively poised.

• Indices have closed around the 61.8% Fibonacci

retracement level of the rise from 17008 to 18041 / 5171

to 5500.

Trading strategy:

As mentioned in the previous weekly report, volatili ty surged

on the back of major domestic events. Further, strong

selling pressure on the Budget day dragged indices

significantly lower to test 61.8% Fibonacci retracement level

of the rise from 17008 to 18041 / 5171 to 5500. At this

juncture, the momentum oscillators and “3 & 8 EMA” ondaily chart are negatively poised. Hence, in the coming

week, if indices sustain below Friday’s low of 17426 /

5305, then we may witness further selling pressure. In this

scenario, markets may drift lower to test 17239 – 17008 /

5244 – 5171 levels. On the upside, 18040 / 5500 level is

likely to act as resistance for the Indices. A sustainable move

beyond this level may push indices higher to test swing high

of 18524 / 5630.

Daily Technical Report

Sensex (17466) / NIFTY (5318)

Exhibit 1: N ifty Daily Chart

Source: Falcon

Actionable points:

View NeutralResistance Levels 5353 - 5387Support Levels 5305 - 5244





On Friday, in line with our benchmark indices, Bank Nifty

too traded with extreme volatility throughout the session.

The “Bearish Engulfing” candle stick pattern mentioned in

our previous report has been confirmed as the index

closed below 10556 levels. The negative crossover in

“RSI” momentum oscillator mentioned in our previous

report is still intact. Thus, if Bank Nifty sustains below

Friday’s low of 10348 then we may drift towards 10169 –

10073 levels. On the upside 10536 – 10700 levels are

likely to act as resistance in coming trading session.

Actionable points:

View Negative Below 10348Expected Target 10169 – 10073Resistance Levels 10536 – 10700

Bank N ifty Outlook - (10391)

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 DayEMA

PositiveAbove

ExpectedTarget

Remarks

M & M 678 669 683.5 685 715View will change below

655

Negative Bias:

Stock Name CMP 5 Day EMA20 Day

EMANegative

BelowExpectedTarget

Remarks

Tata Motors 286.7 285.6 274 282.5 270 View will change above292





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,144 17,305 17,588 17,749 18,032

NIFTY 5,216 5,267 5,356 5,407 5,497

BANKNIFTY 10,040 10,216 10,524 10,700 11,008

ACC 1,304 1,322 1,339 1,356 1,373

AMBUJACEM 159 164 167 171 174

AXISBANK 1,157 1,187 1,233 1,263 1,309

BAJAJ-AUTO 1,689 1,705 1,731 1,748 1,773

BHARTIARTL 322 325 330 333 338

BHEL 254 264 279 289 305

BPCL 648 656 669 677 690

CAIRN 323 334 352 364 382

CIPLA 294 298 304 308 315

COALINDIA 333 337 343 347 353

DLF 189 193 197 201 206

DRREDDY 1,646 1,663 1,686 1,703 1,726

GAIL 354 360 370 376 385

HCLTECH 483 490 498 505 513

HDFC 654 660 669 675 683

HDFCBANK 493 500 513 520 532

HEROMOTOCO 1,898 1,927 1,955 1,984 2,012

HINDALCO 135 138 141 144 148

HINDUNILVR 380 385 388 394 397

ICICIBANK 884 901 927 944 971

IDFC 138 142 147 150 155

INFY 2,809 2,837 2,875 2,903 2,941

ITC 200 208 216 225 233JINDALSTEL 544 560 582 597 619

JPASSOCIAT 73 76 80 82 86

KOTAKBANK 515 527 547 559 579

LT 1,271 1,296 1,339 1,363 1,406

M&M 628 653 675 700 723

MARUTI 1,291 1,333 1,381 1,423 1,471

NTPC 165 169 175 179 185

ONGC 256 265 277 285 298

PNB 915 939 980 1,004 1,044

POWERGRID 104 106 109 111 114

RANBAXY 403 407 413 417 424

RCOM 89 90 93 95 97RELIANCE 749 761 779 791 809

RELINFRA 608 620 640 652 672

RPOWER 125 128 132 135 140

SAIL 92 94 97 99 103

SBIN 2,126 2,177 2,266 2,317 2,406

SESAGOA 191 195 201 205 212

SIEMENS 731 751 783 804 836

STER 109 112 116 118 122

SUNPHARMA 501 523 558 581 615

SUZLON 26 27 29 30 31

TATAMOTORS 274 280 289 295 304

TATAPOWER 101 103 107 110 114

TATASTEEL 435 445 459 469 483

TCS 1,147 1,158 1,169 1,180 1,191

WIPRO 421 425 430 434 440

Technical Research Team

Daily Pivot Levels for N ifty 50 Stocks





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

Documents

Technical Report 19th March 2012