Technical Report 9th November 2011

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Technical Research | November 09, 2011

Markets opened quietly and corrected marginally during the

first half of the session. However, buying attracted at lower

levels during the second half which pushed indices higher to

close slightly below 17600 / 5300 mark. On the sectoral

front, the Realty and Health Care counters were among the

major losers Consumer Durables sector ended on a gaining

side. The advance decline ratio was in favor of advancing

counters (A= 1434 D= 1399). (Source –www.bseindia.com)

Formation

• On the Weekly chart, the “Downward Sloping Trend

Line” is now placed around the 18100 / 5450 level.

• The Daily “200 SMA” is placed at 18000 / 5400 level.

• The “20 EMA” on the Daily and Weekly chart is placed

at 17165 / 5165 and 17300 / 5200, respectively.

• The positive crossover in the Weekly ADX (9) indicator is

still intact.

(Note: All technical evidences mentioned in earlier report

are almost unchanged; therefore, we continue to mention

them)

Trading strategy:

After flat opening indices corrected towards the intraday

support level of 17450 / 5250 and bounced from these

levels during second half of the session. As mentioned in

our earlier reports, the support remains to be at 17300 –

17165 / 5200 – 5160 levels. On the upside, yesterday’s

high of 17632 / 5304 level would act as an immediate

resistance. If indices manage to sustain above this level then

they are likely to move towards 17700 – 17820 / 5326 –

5365 levels.

Daily Technical Report

Sensex 17570 / NIFTY 5289

Exhibit 1: Ni fty Daily Chart

Source: Falcon

Actionable points:

View NeutralResistance Levels 5326 – 5365Support Levels 5200 – 5160





Bank nifty opened on a flat note and drifted lower during

initial part of the session. However, during the second half

buying emerged near day’s low, which led Bank Nifty to

close near the initial opening level. We are witnessing a

“Doji” candle formation, which is a sign of indecisiveness at

current levels. Only a sustainable move above 9914 level

will lead the index to test the next resistance level of 10080.

On the downside, 9733 – 9647 levels may act as support

levels for the day.

Actionable poin ts:

View Neutral Resistance Levels 9914 – 10080Support Levels 9733 – 9647

Bank N ifty Outlook - (9853)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon

Stock Recommendations: Stock – Jet Airways (NSE Cash)

Action – Buy

Last close - ` 267.45

Buying Range - ` 267 - ` 262

Stop Loss - ` 255.45

Target - ` 288

Justification – On the Daly chart, the stock has given a

downward sloping trend line breakout at ` 264 with

significant rise in volumes. Moreover, we are observing a

positive crossover in Weekly “RSI – Smoothened” oscillator.

Combining above technical evidences, it seems that the

stock has a potential to rally in coming days. Hence, we

advise traders to buy this stock from current level to a

decline up to ` 262 for a target of ` 288 in coming 2 – 3

Weeks.

Exhibit 3:Jet Airways (NSE Cash) Daily chart

Source: Falcon





Positive Bia :

Stock Name 5 Day EMA 20 Day EMA Expected Target Remark

Titan Inds 218.2 217 230 View will change below 216

Apollo Tyre 57.4 56.4 63.50 View will change below 54.7Jain Irrigation 118.3 127.1 129.50 View will change below 107

Negative Bias:

Stock Name 5 Day EMA 20 Day EMA Expected Target Remark

Yesbank 310.3 297 298 View will change above 318.5

Century Textile 328.7 316 317 View will change above 335

Ranbaxy 504.6 505.8 485 View will change above 520





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,375 17,472 17,552 17,649 17,729

NIFTY 5,230 5,259 5,282 5,312 5,334

BANKNIFTY 9,665 9,759 9,826 9,920 9,988

ACC 1,202 1,210 1,220 1,228 1,238

AMBUJACEM 158 160 162 165 167

AXISBANK 1,117 1,128 1,141 1,153 1,166

BAJAJ-AUTO 1,695 1,709 1,732 1,746 1,768

BHARTIARTL 391 394 398 401 405

BHEL 332 333 336 337 340

BPCL 585 594 610 619 635

CAIRN 301 311 317 327 333

CIPLA 286 289 291 294 296

DLF 232 238 244 249 255

DRREDDY 1,588 1,605 1,619 1,636 1,650

GAIL 416 419 423 426 430

HCLTECH 420 424 431 436 443

HDFC 666 673 682 688 697

HDFCBANK 475 479 483 488 492

HEROMOTOCO 2,087 2,103 2,127 2,144 2,168

HINDALCO 136 138 140 142 144

HINDUNILVR 373 377 382 386 390

ICICIBANK 863 872 880 889 896

IDFC 122 124 127 129 132

INFY 2,770 2,806 2,827 2,863 2,884

ITC 207 209 210 212 214

JINDALSTEL 562 568 575 581 588

JPASSOCIAT 76 77 79 80 82

KOTAKBANK 485 492 499 506 512

LT 1,366 1,379 1,392 1,406 1,419

M&M 821 828 837 845 854

MARUTI 1,109 1,117 1,125 1,133 1,141

NTPC 175 176 178 180 182

ONGC 270 274 281 285 292

PNB 955 967 977 989 999

POWERGRID 103 104 104 104 104

RANBAXY 487 492 500 504 512

RCOM 82 84 86 88 90

RELCAPITAL 359 367 372 381 386RELIANCE 863 873 879 890 896

RELINFRA 453 464 471 483 490

RPOWER 98 100 102 105 106

SAIL 107 109 110 112 114

SBIN 1,943 1,970 1,987 2,014 2,031

SESAGOA 205 209 212 215 218

SIEMENS 833 842 853 862 874

STER 121 122 124 125 126

SUNPHARMA 483 491 503 511 523

SUZLON 36 37 37 38 38

TATAMOTORS 183 186 189 192 194

TATAPOWER 101 102 103 104 106TATASTEEL 460 464 468 472 476

TCS 1,087 1,096 1,105 1,115 1,124

WIPRO 364 367 370 373 376

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 9th November 2011