Technical Report 30th January 2012

8/3/2019 Technical Report 30th January 2012

http://slidepdf.com/reader/full/technical-report-30th-january-2012 1/5

For Private Circulation Only | 1

Technical Research | January 30, 2012

On Friday, once again for the third consecutive session,

markets opened with an upside gap and traded with

extreme choppiness. Hence, indices closed around the 200-

day SMA placed at 17332 / 5202 level. On the sectoral

front, Metal, PSU and Teck counters were among the major

gainers, whereas Capital goods ended with a marginal

loss. The advance to decline ratio was strongly in favor of

advancing counters. (A= 1808 D= 1040) (Source -

www.bseindia.com)

Formation:

• The positive crossover on weekly “RSI – Smoothened”

oscillator is still intact.

• ADX (9) indicator on the weekly chart is positively

poised.

• Indices have broken out from the “Downward Sloping

Trend Line” drawn by joining July 8, 2011, weekly high of19132 / 5740 and October 28, 2011, weekly high of

17908 / 5400.

• Indices are now nearing another “Downward Sloping

Trend Line” drawn by joining November 12, 2010, weekly

high of 21076 / 6336 and July 29, 2011, weekly high of

18945 / 5702.

• The 200-day SMA is placed at 17332 / 5202 level.

• Friday’s candle resembled a “Hanging Man” . This is a

bearish pattern and requires confirmation. Trading strategy:

The week opened on a quiet note, but the RBI’s Monetary

Policy on January 24, 2012, gave a boost to the markets.

This was followed by a strong rally in Reliance Industries

along with some of the Capital Goods and IT counters.

Hence, markets have closed well above the “Downward

Sloping Trend Line” drawn by joining July 8, 2011, weekly

high of 19132 / 5740 and October 28, 2011, weekly high

of 17908 / 5400. Indices are now heading towards another“Downward Sloping Trend Line” drawn by joining

November 10, 2010, weekly high of 21076 / 6336 and

July 29, 2011, weekly high of 18945 / 5702.

Daily Technical Report

Sensex (17234) / NIFTY (5205)

Exhibit 1: Ni fty Daily Chart

Source: Falcon

Actionable points:

View BearishSell Only below 5162Expected target 5110 – 5050Resistance level 5220

The placement of this trend line almost coincides with the

200-day SMA placed around 17332 / 5202. Therefore,

markets are hovering around the stiff resistance zone of

17384 – 17332 / 5220 – 5202. Further, we are now

observing a candlestick pattern, which resembles a

“Hanging Man”. The said pattern gives a bearish

implication and needs a confirmation in the form of closing

below the low of the “Hanging Man”, which is 17106 /

5162. In this scenario, indices may lose the current positive

momentum and may slide towards 16757 – 16447 / 5055

– 4955 levels. Conversely, the positive crossover in weekly

“RSI-Smoothened” oscillator is still intact along with the

positively poised daily ADX (9) indicator. The impact of

these technical evidences would be seen after a sustainable

move beyond 17384 / 5220 level. In this case, indices may

rally towards the next resistance levels of 17702 – 17908 /

5326 – 5400.





On Friday’s session, Bank Nifty opened near our

mentioned resistance level of 9967, where selling

pressure was witnessed which dragged the index to close

well below the 9900 mark. We had mentioned in our

previous reports, that the momentum oscillators are

placed in an overbought zone. We are now witnessing

negative crossover in momentum oscillator “RSI and

Stochastic”. Thus, if Bank Nifty manages to sustain below

Friday’s low of 9701 then it is likely to test 9527 – 9390

levels. On the upside 9970 level is likely to act asresistance in coming trading session.

Actionable points:

View Negative Below 9701

Expected TargetResistance Levels

9527 - 93909970

Bank N ifty Outlook - (9814)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 Day EMA ExpectedTarget

Remarks

JINDALPOLYFILMS

212.7 203.7 192.9 235 View will change below 195

Negative Bias:

Stock Name CMP 5 Day EMA 20 Day EMAExpectedTarget

Remarks

DLF 211.6 213.8 202.6 204.50 View will change above 224.55





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,047 17,141 17,200 17,293 17,352

NIFTY 5,140 5,172 5,195 5,227 5,249

BANKNIFTY 9,560 9,687 9,828 9,955 10,096

ACC 1,157 1,174 1,191 1,208 1,225

AMBUJACEM 160 161 163 164 166

AXISBANK 1,047 1,060 1,070 1,083 1,093

BAJAJ-AUTO 1,478 1,509 1,555 1,586 1,632

BHARTIARTL 353 364 370 381 387

BHEL 260 267 276 283 292

BPCL 563 570 579 586 595

CAIRN 343 348 352 357 361

CIPLA 338 342 345 349 352

DLF 202 207 216 220 229

DRREDDY 1,484 1,565 1,616 1,697 1,748

GAIL 362 367 371 377 381

HCLTECH 416 422 426 432 436

HDFC 683 692 704 713 725

HDFCBANK 465 475 489 499 514

HEROMOTOCO 1,744 1,781 1,828 1,865 1,912

HINDALCO 140 142 145 147 150

HINDUNILVR 375 383 391 399 407

ICICIBANK 855 871 881 898 907

IDFC 124 128 130 134 136

INFY 2,667 2,696 2,715 2,745 2,764

ITC 195 199 203 206 211

JINDALSTEL 507 518 534 546 562

JPASSOCIAT 68 69 72 73 75

KOTAKBANK 474 484 493 502 511

LT 1,305 1,343 1,366 1,404 1,426

M&M 650 675 690 715 730

MARUTI 1,137 1,174 1,196 1,233 1,256

NTPC 169 172 175 178 181

ONGC 245 262 271 288 297

PNB 941 956 979 994 1,017

POWERGRID 99 101 103 105 107

RANBAXY 432 438 448 454 464

RCOM 93 95 96 98 99

RELCAPITAL 326 334 343 351 360RELIANCE 787 804 816 833 845

RELINFRA 491 511 522 542 553

RPOWER 93 95 97 99 101

SAIL 95 100 104 109 112

SBIN 1,991 2,016 2,043 2,068 2,095

SESAGOA 197 206 211 220 225

SIEMENS 736 745 752 761 769

STER 113 117 119 123 125

SUNPHARMA 516 522 528 534 540

SUZLON 27 28 28 29 30

TATAMOTORS 229 235 238 243 247

TATAPOWER 103 104 105 107 108TATASTEEL 441 450 456 465 471

TCS 1,089 1,099 1,110 1,120 1,130

WIPRO 412 415 419 421 425

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

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 30th January 2012