Technical Report 27th March 2012

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Technical Research | March 27, 2012

Yesterday, we witnessed a flat opening in-line with other

Asian bourses. However, selling pressure intensified as the

day progressed and dragged indices to close almost at the

lowest point of the day. It must be noted that participation

from domestic institutions was extremely muted in

yesterday’s session. On sectoral front, Realty, Power and

Banking counters were among the major losers. There was

no sector in the positive territory. The advance to decline

ration was strongly in favour of declining counters (A= 962

D= 1889) (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.

Trading strategy:

The week began on a quiet note but market drifted lower

right from the opening trades. Selling pressure gained

momentum on the violation of Friday’s low of 17179 /

5220. As a result, indices continued sliding down and tested

the mentioned strong support level of 17008 / 5171. This

support level almost coincides with “200-day SMA” and

“20-week EMA”. Therefore, it can be considered as a strongsupport zone. Considering the global cues in today’s

session, it is likely that our markets may open on a positive

note. On the upside, 17388 – 17459 / 5275 – 5312 levels

may act as resistance in coming trading session. On The

downside, if indices manage to sustain below 17008 /

5171, then we are likely to witness further downside

momentum. In this case, indices may fall lower to test the

next support zone of 16828 – 16600 / 5076 – 5000.

Daily Technical Report

Sensex (17053) / NIFTY (5184)

Exhibit 1: N ifty Daily Chart

Source: Falcon

Actionable points:

View NeutralResistance Levels 5275 – 5312Support Levels 5171 – 5076 – 5000





Yesterday, Bank Nifty opened on a flat note and not only

tested the 10000 level during the session, but managed

to close well below the mentioned range of 10100 –

10600. We are now witnessing a trend line breakdown

formed by joining the lows of January30, 2012 and

March7, 2012. The momentum oscillators on the daily

chart are negatively poised. However, we are witnessing a

positive divergence in “RSI” momentum oscillator on the

hourly chart. Thus possibility of a minor pullback cannot

be ruled out. On the upside 10250 – 10340 levels arelikely to act as resistance in coming trading session.

Moreover any move below yesterday’s low of 10013 will

trigger fresh momentum on the downside and the index

may drift towards 9939 – 9800 levels.

Actionable points:

View NeutralResistance Levels 10250 - 10340Support Levels 10013 – 9939 – 9800

Bank N ifty Outlook - (10044)

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 Day EMA PositiveAbove

ExpectedTarget

Remarks

United Spirit 552.6 551.8 566.2 559 605 View will change below536





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 16,795 16,924 17,151 17,280 17,506

NIFTY 5,111 5,148 5,211 5,248 5,311

BANKNIFTY 9,857 9,950 10,107 10,200 10,357

ACC 1,298 1,314 1,340 1,356 1,382

AMBUJACEM 163 166 170 172 176

AXISBANK 1,085 1,105 1,140 1,160 1,195

BAJAJ-AUTO 1,611 1,637 1,678 1,704 1,745

BHARTIARTL 320 324 331 335 341

BHEL 251 255 261 264 270

BPCL 647 656 671 680 695

CAIRN 341 344 350 354 359

CIPLA 277 283 292 298 307

COALINDIA 324 328 332 336 340

DLF 183 186 192 195 200

DRREDDY 1,629 1,646 1,659 1,676 1,689

GAIL 352 357 365 370 378

HCLTECH 451 464 484 497 517

HDFC 643 647 654 658 665

HDFCBANK 500 506 511 517 522

HEROMOTOCO 1,928 1,965 1,994 2,030 2,060

HINDALCO 123 125 129 131 135

HINDUNILVR 393 398 402 407 411

ICICIBANK 842 857 881 896 920

IDFC 122 125 130 133 138

INFY 2,792 2,812 2,840 2,859 2,888

ITC 219 221 223 224 226JINDALSTEL 503 515 532 543 560

JPASSOCIAT 78 80 81 83 84

KOTAKBANK 515 523 531 539 547

LT 1,260 1,270 1,284 1,294 1,308

M&M 667 674 681 688 695

MARUTI 1,271 1,284 1,303 1,316 1,335

NTPC 160 163 168 170 175

ONGC 255 258 264 268 273

PNB 877 894 923 940 969

POWERGRID 104 105 106 107 108

RANBAXY 401 406 414 419 427

RCOM 84 85 87 89 91RELIANCE 717 723 734 740 751

RELINFRA 561 572 588 598 614

RPOWER 115 117 120 122 125

SAIL 91 92 93 94 96

SBIN 2,080 2,099 2,129 2,148 2,178

SESAGOA 179 184 192 197 205

SIEMENS 749 757 770 778 790

STER 102 105 109 112 117

SUNPHARMA 566 572 578 584 590

SUZLON 26 27 27 28 28

TATAMOTORS 263 266 269 272 276

TATAPOWER 92 94 97 99 102

TATASTEEL 430 435 443 449 457

TCS 1,136 1,149 1,167 1,180 1,198

WIPRO 416 419 425 428 433

Technical Research Team

Daily Pivot Levels for Nif ty 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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Technical Report 27th March 2012