Technical Report 25th January 2012

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Technical Research | January 25, 2012

Yesterday, we witnessed an optimistic opening and Indices

traded with extreme volatility before the announcement of

RBI Monetary policy. However, post the announcement of a

higher than expected CRR cut, buying momentum resumed

and indices closed well above 5100 mark. On the sectoral

front, Capital Goods, Banking and Metal counters

contributed heavily in yesterday’s gain. There was no sector

in the negative territory. The advance to decline ratio was in

favor of advancing counters. (A= 1592 D= 1207) (Source -

www.bseindia.com)

Formation:

• We are witnessing a positive crossover on weekly “RSI –

Smoothened” oscillator.

• Indices are nearing a “Downward Sloping Trend Line”

joining July 8, 2011 high of 19132 / 5740 and October20, 2011 high of 17908 / 5400

• The 200-day SMA is now placed around 17356 / 5210

level.

Trading strategy:

Benchmark Indices opened with an upside gap and traded

with a strong positive momentum post announcement of RBI

Monetary policy. Subsequently, indices surged significantly

higher to register a close well above 5100 mark for the first

time after November 14, 2011. We are now observing that

indices have closed near the “Downward Sloping Trend

Line” joining July 8, 2011 high of 19132 / 5740 and

October 20, 2011 high of 17908 / 5400. Hence, a move

beyond yesterday’s high of 17050 / 5141 may reinforce

positive momentum and then indices may rally towards the

200-day SMA level of 17356 / 5210. On the downside, the

16670 / 5049 level may provide decent support in coming

trading session.

Daily Technical Report

Sensex (16996) / NIFTY (5127)

Exhibit 1: Ni fty Daily Chart

Source: Falcon

Actionable points:

View Neutral

Resistance levels 5141 – 5210Support level 5049





Yesterday, Bank Nifty opened on a flat note and gained

momentum post RBI monetary policy and tested 9900 level.

The “Shooting Star” candle stick pattern mentioned in our

previous report has been negated as the index managed to

close above 9659 level. Going forward if the index manages

to sustain above yesterday’s high of 9885 then it is likely to

test 9976 - 10017 levels. At present, the momentum

indicators suggest that the index is extremely overbought and

a small correction cannot be ruled out. In such a scenario

Bank Nifty is likely to find support near 9670 - 9548 levels incoming trading session.

Actionable points:

View Neutral

Resistance levelsSupport Levels

9885 – 9976 – 100179670 – 9548

Bank N ifty Outlook - (9834)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 Day EMA ExpectedTarget

Remarks

Delta Corp 76.8 73.8 68.6 83 View will change below 71.5





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 16,658 16,827 16,939 17,107 17,219

NIFTY 5,015 5,071 5,106 5,162 5,197

BANKNIFTY 9,296 9,565 9,725 9,994 10,154

ACC 1,155 1,166 1,175 1,186 1,195

AMBUJACEM 156 158 160 162 164

AXISBANK 959 996 1,021 1,058 1,083

BAJAJ-AUTO 1,537 1,559 1,578 1,600 1,619

BHARTIARTL 347 352 357 361 366

BHEL 275 278 282 285 290

BPCL 531 544 554 566 576

CAIRN 343 348 351 355 358

CIPLA 339 342 344 347 349

DLF 210 214 219 224 229

DRREDDY 1,625 1,635 1,649 1,659 1,673

GAIL 363 365 369 371 374

HCLTECH 404 416 423 435 442

HDFC 690 695 701 706 711

HDFCBANK 475 482 487 494 500

HEROMOTOCO 1,792 1,840 1,877 1,925 1,962

HINDALCO 133 138 142 147 150

HINDUNILVR 387 390 395 398 402

ICICIBANK 829 858 877 906 925

IDFC 116 121 124 129 132

INFY 2,574 2,597 2,618 2,642 2,663

ITC 203 204 206 207 209

JINDALSTEL 529 539 546 556 563

JPASSOCIAT 65 68 70 72 74

KOTAKBANK 463 479 489 505 515

LT 1,255 1,304 1,335 1,383 1,415

M&M 645 665 677 697 709

MARUTI 1,109 1,133 1,153 1,177 1,197

NTPC 171 173 175 177 179

ONGC 269 271 275 277 281

PNB 927 965 990 1,027 1,052

POWERGRID 99 100 101 101 102

RANBAXY 451 459 465 473 478

RCOM 88 91 94 97 99

RELCAPITAL 317 328 337 348 356RELIANCE 761 772 782 793 803

RELINFRA 453 466 479 493 506

RPOWER 90 93 95 98 100

SAIL 90 93 94 97 99

SBIN 1,877 1,959 2,009 2,090 2,140

SESAGOA 183 186 189 193 196

SIEMENS 727 745 756 774 786

STER 103 107 109 114 116

SUNPHARMA 502 509 518 525 535

SUZLON 26 26 27 27 28

TATAMOTORS 213 217 221 225 229

TATAPOWER 102 105 107 109 111TATASTEEL 413 423 431 441 450

TCS 1,070 1,079 1,087 1,096 1,104

WIPRO 412 415 419 422 426

Technical Research Team

Daily Pivot Levels for Nifty 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

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Documents

Technical Report 25th January 2012