DailyTech Report 25.04.12 by mnmgroup

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									                                                                                         Technical Research | April 25, 2012



Daily Technical Report


Sensex (17207) / NIFTY (5223)
                                                                    Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark indices opened on a flat note
and traded with choppiness throughout the day. A minor
bounce towards the latter part of the session led indices to
close near day’s high. On sectoral front, IT and TECK
counters     were     among      the   major   gainers,   whereas
Consumer Goods counter ended with a marginal loss. The
advance to decline ratio was in marginally favour of
declining      counters     (A=1330      D=1398)      (Source   –
www.bseindia.com)

Formation:
• The 200-day SMA (Simple Moving Average) and 20-day
EMA (Exponential Moving Average) have now shifted to
17050 / 5135 and 17400 / 5300, respectively.
                                                                    Source: Falcon
• The ‘20-Week EMA’ is placed at 17200 / 5180 level.

                                                                    Actionable points:
Trading strategy:                                                            View                    Neutral
Yesterday, we witnessed a flat opening in-line with global          Resistance level               5232 – 5311
                                                                    Support Levels                 5180 – 5135
cues. Subsequently, indices moved in a very narrow range
of 17047 – 17247 / 5180 - 5232. Going forward, we
reiterate our view that 17047 / 5180 levels are likely to
provide decent support for the market. Only a fall below
these levels on the back of strong volumes may reinforce
negative momentum and indices then may slide to test
16920 / 5135 level. On the upside, Monday's high of
17445 / 5311 may act as immediate resistance for the
markets. A move beyond this may push indices higher to
test 17664 / 5380 levels.




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                                                                                 Technical Research | April 25, 2012




    Bank Nifty Outlook - (10215)
                                                                Exhibit 2: Bank Nifty Daily Chart
   Yesterday, Bank Nifty opened on a flat note traded in a
   narrow range throughout the session. The index tested the
   mentioned support level of 10150 and bounced back.
   The negative crossover in “RSI - Smoothened” momentum
   oscillator on the daily chart mentioned in our previous
   report is still intact. On the contrary, the momentum
   oscillator “RSI - Smoothened” on the hourly chart is
   placed in an extreme oversold condition and possibility of
   a bounce back cannot be ruled out. The trading range of
   10600 – 10150 mentioned in our previous reports is still
   intact. On the upside 10325 – 10375 level is likely to act
   as resistance in coming trading session. On the downside
   support is likely act 10125 - 10060.

   Actionable points:

             View                     Neutral
    Resistance Levels              10325 – 10375
    Support Levels                 10125 - 10060
                                                                Source: Falcon




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                                                                          Technical Research | April 25, 2012




   Positive Bias:


                                                            Positive   Expected
    Stock Name              CMP    5 Day EMA   20 Day EMA                                  Remarks
                                                            Above       Target
                                                                                    View will change below
         APIL              395.7     388.9       374.3       403         425
                                                                                              382




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                                                            Technical Research | April 25, 2012



Daily Pivot Levels for Nifty 50 Stocks
  SCRIPS                          S2       S1      PIVOT               R1             R2
   SENSEX                        16,966   17,087   17,167            17,288         17,368
   NIFTY                         5,160    5,191    5,212              5,243          5,264
   BANKNIFTY                     10,082   10,149   10,218            10,285         10,354
   ACC                           1,172    1,193    1,224              1,245          1,276
   AMBUJACEM                      143      147      153               157            163
   AXISBANK                      1,062    1,088    1,115              1,141          1,168
   BAJAJ-AUTO                    1,606    1,627    1,656              1,677          1,706
   BHARTIARTL                     281      294      302               315            323
   BHEL                           230      234      237               241            244
   BPCL                           658      673      687               702            716
   CAIRN                          335      338      342               345            349
   CIPLA                          309      311      315               317            321
   COALINDIA                      347      351      358               362            368
   DLF                            180      183      187               190            193
   DRREDDY                       1,732    1,748    1,772              1,788          1,812
   GAIL                           338      342      350               354            362
   HCLTECH                        488      499      509               520            531
   HDFC                           675      679      684               688            692
   HDFCBANK                       535      539      543               546            550
   HEROMOTOCO                    2,093    2,142    2,178              2,227          2,262
   HINDALCO                       117      119      121               122            124
   HINDUNILVR                     413      417      420               424            427
   ICICIBANK                      831      840      847               855            862
   IDFC                           121      124      126               129            132
   INFY                          2,138    2,244    2,304              2,410          2,471
   ITC                            235      240      243               248            251
   JINDALSTEL                     461      470      480               489            499
   JPASSOCIAT                     72       74       75                 76             78
   KOTAKBANK                      549      559      574               584            599
   LT                            1,187    1,203    1,231              1,247          1,275
   M&M                            691      704      712               725            733
   MARUTI                        1,337    1,350    1,363              1,377          1,390
   NTPC                           163      165      167               169            170
   ONGC                           262      265      268               271            273
   PNB                            860      872      884               896            908
   POWERGRID                      108      109      110               111            113
   RANBAXY                        512      518      523               530            534
   RCOM                           77       79       80                 82             84
   RELIANCE                       716      726      733               743            750
   RELINFRA                       515      525      532               542            549
   RPOWER                         106      107      109               111            112
   SAIL                           93       97       99                103            105
   SBIN                          2,153    2,172    2,194              2,213          2,234
   SESAGOA                        175      179      182               185            188
   SIEMENS                        780      788      797               805            813
   STER                           102      104      105               107            108
   SUNPHARMA                      584      590      597               603            611
   SUZLON                         22       22       23                 23             24
   TATAMOTORS                     307      309      312               314            317
   TATAPOWER                      101      103      104               106            107
   TATASTEEL                      455      462      468               476            481
   TCS                           1,084    1,139    1,172              1,227          1,260
   WIPRO                          419      421      424               427            429


                                                                    Technical Research Team
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                                                                                                 Technical Research | April 25, 2012
                                                                                                                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 sameet.chavan@angelbroking.com

  Research Team: 022-3952 6600                                                                       Website: www.angelbroking.com

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