Technical Report 5th January 2012

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Technical Research | January 05, 2012

Yesterday, markets opened marginally higher and traded

with extreme volatility as they were nearing strong resistance

zone of 16020 – 16070 / 4800 – 4820. As a result,

indices ended with a nominal loss. On the sectoral front,

PSU, Capital Goods and Banking sectors were among the

major gainers, whereas Auto and Teck counters ended on a

losing side. The advance to decline ratio was in favor of

gaining counters. (A= 1499 D= 1200). (Source –

www.bseindia.com)

Formation

• The 20 day EMA has now shifted to 15839 / 4743

level.

• On the Daily chart, we are witnessing a positive

crossover in momentum oscillator’s viz., the RSI and the

Stochastic. Also, “3 & 8” EMA and ADX (9) indicator hasgiven a positive crossover.

Trading strategy:

After a quiet opening, indices traded in a narrow range

throughout the day. The bulls appeared to be skeptical

while approaching the mentioned resistance zone of 16020

– 16070 / 4800 – 4820. These levels acted as a stiff

resistance during yesterday’s session and a strong selling

pressure near day’s high dragged indices to closemarginally in the negative territory. Going forward, we

reiterate that only a sustainable move above 16070 / 4820

would reinforce a positive momentum. A possibility of this

scenario cannot be ruled out as the positive crossover

observed in RSI, Stochastic, 3 & 8 EMA and ADX (9) is still

intact. Therefore, a move beyond 16070 / 4820 level may

push indices higher to test 16286 – 16421/ 4881 – 4920

levels. On the downside, immediate support levels are at

15810 – 15640 / 4725 – 4675.

Daily Technical Report

Sensex 15883 / NIFTY 4750

Exhibit 1: Ni fty Daily Chart

Source: Falcon

Actionable points:

View Positive Above 4820Expected Targets 4881 – 4920Support levels 4725 – 4675





Yesterday, similar to the benchmark indices, Bank Nifty

too opened on a flat note and traded in narrow range

throughout the session to close near the initial opening

level. The index has managed to give a close above the

“20 EMA” which is a sign of strength. The positive

crossover of momentum oscillators “RSI and Stochastic” is

still intact. Therefore, if Bank Nifty sustains above

yesterday’s high of 8453, then it is likely to test the

resistance zone of 8580 – 8604. We may witness some

consolidation near to these levels. On the downside 8294 – 8235 levels are likely to act as support in coming

trading session.

Actionable points:

View Positive Above 8453

Expected Target 8580 – 8604

Support Level 8294 – 8235

Bank N ifty Outlook - (8340)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon

Stock Recommendations:

Stock – BPCL (JAN FUT)

Action – Buy

Last close ` 473.65

Buy Above ` 477

Stop Loss ` 470.50

Target ` 492

Justification – On the Daily chart, the stock has taken a

support near a downward sloping trend line joining the two

significant bottoms of ` 595 and ` 484.5. Also on the

hourly chart, all the technical evidences suggest a chance of

further upside. Hence, we advise buying the stock ONLY

above ` 477 for a target of ` 492 in coming 2- 3 trading

sessions.

Exhibit 3: BPCL (JAN FUT)

Source: Falcon





Positive Bia :

Stock Name CMP 5 Day EMA 20 Day EMAExpected

TargetRemarks

BPCL 470.7 478 504 490 View will change below 460

Negative Bias:

Stock Name CMP 5 Day EMA 20 Day EMAExpectedTarget

Remarks

Hindunilever 395.5 403.8 401.5 380 View will change above 409

HeroMotoco 1786.5 1837.7 1909 1750 View will change above 1828





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 15,721 15,802 15,903 15,984 16,086

NIFTY 4,700 4,725 4,754 4,779 4,808

BANKNIFTY 8,226 8,317 8,385 8,476 8,544

ACC 1,066 1,085 1,112 1,132 1,159

AMBUJACEM 144 147 152 155 160

AXISBANK 821 835 845 859 869

BAJAJ-AUTO 1,361 1,393 1,447 1,479 1,532

BHARTIARTL 338 342 350 354 361

BHEL 245 249 254 258 263

BPCL 455 463 469 477 482

CAIRN 316 321 327 332 337

CIPLA 323 327 329 334 336

DLF 182 185 188 191 194

DRREDDY 1,565 1,578 1,592 1,605 1,619

GAIL 383 389 394 399 405

HCLTECH 395 407 417 429 439

HDFC 653 657 663 666 672

HDFCBANK 426 434 440 449 454

HEROMOTOCO 1,730 1,758 1,793 1,821 1,856

HINDALCO 113 116 117 120 122

HINDUNILVR 384 390 399 404 413

ICICIBANK 722 733 741 751 759

IDFC 94 96 97 99 101

INFY 2,823 2,839 2,857 2,873 2,891

ITC 197 198 200 201 203

JINDALSTEL 459 468 481 490 504

JPASSOCIAT 53 53 54 55 56

KOTAKBANK 429 434 442 447 454

LT 1,039 1,055 1,066 1,082 1,093

M&M 616 628 648 659 679

MARUTI 928 938 953 964 979

NTPC 158 159 160 161 162

ONGC 259 263 265 269 272

PNB 782 790 799 807 816

POWERGRID 98 100 101 103 104

RANBAXY 412 425 432 445 452

RCOM 71 72 73 74 75

RELCAPITAL 235 240 247 252 258RELIANCE 703 709 720 727 738

RELINFRA 341 350 356 366 372

RPOWER 69 70 72 73 74

SAIL 83 84 85 86 87

SBIN 1,656 1,676 1,695 1,715 1,734

SESAGOA 157 161 165 170 173

SIEMENS 648 656 665 673 681

STER 91 93 95 97 99

SUNPHARMA 487 494 501 508 514

SUZLON 18 18 19 19 19

TATAMOTORS 189 195 199 205 208

TATAPOWER 89 91 92 94 95TATASTEEL 351 358 363 369 374

TCS 1,147 1,160 1,182 1,196 1,218

WIPRO 410 414 420 424 429

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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Technical Report 5th January 2012