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DailyTech Report 11.04.12

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									                                                                                       Technical Research | April 11, 2012



Daily Technical Report


Sensex (17244) / NIFTY (5244)
                                                                Exhibit 1: Nifty Daily Chart
Yesterday, the 5200 mark yet again acted as strong support
from where buying emerged in the latter half of the session.
In the end, our Benchmark indices closed near the initial
opening level. On sectoral front, FMCG, AUTO and
Banking counters where among the major gainers, whereas
METAL, IT, and Consumer Goods stocks ended on the
losing side. The advance to decline ratio was marginally in
favor of declining counters (A=1337 D=1432) (Source –
www.bseindia.com)



Formation:
•    The 200-day SMA (Simple Moving Average) and 20-
day EMA (Exponential Moving Average) have now shifted to
17100 / 5150 and 17333 / 5275, respectively.

•    The ‘20-Week EMA’ is placed at 17200 / 5200 level.

•    The candlestick pattern on the daily chart resembles a
“Homing Pigeon”.

•    Indices have taken support near 61.8% Fibonacci
Retracement level (17204 / 5228) of the rise from 16920 to
17664 / 5135 to 5379 levels.                                    Source: Falcon




Trading strategy:                                               Actionable points:
 Yesterday, indices opened on a flat note and traded in a                View                        Neutral
                                                                Resistance Levels              5256 – 5288 - 5339
narrow range throughout the day to close below 5250             Support Levels                    5200 - 5135
mark. Now on the Daily chart, we are observing a
candlestick pattern which resembles a “Homing Pigeon”           Conversely, the high of “Homing Pigeon” 17275 / 5256
which needs confirmation in the form of closing above the       would act as a resistance in today’s trading session. A
high. However, there are no significant changes in rest of      sustainable move beyond this level may result further upside
the technical evidences mentioned in our previous report.       and indices are likely to test 17407 – 14554 / 5288 – 5339
Also, the global cues suggest that our markets may open in      levels.
red. Therefore, we are of the opinion that if indices sustain
below yesterday’s low of 17135 / 5211 then they are likely
to slide towards the next support levels of 17100 – 16920 /
5200 – 5135 levels.




For Private Circulation Only |                                                                                            1
                                                                                 Technical Research | April 11, 2012




    Bank Nifty Outlook - (10196)
                                                                Exhibit 2: Bank Nifty Daily Chart
   Yesterday, Bank Nifty opened on a flat note, tested our
   mentioned support level of 10100 to bounce back
   sharply during the last hour of trade. We are witnessing a
   “Bullish Harami” candlestick pattern near 61.8%
   Fibonacci retracement of the rise from March 29, 2012 –
   April 03, 2012. The said pattern requires confirmation in
   the form of closing above 10210. We are also witnessing
   positive crossover in “RSI - Smoothened” oscillator on the
   hourly chart and the possibility of an up - move cannot be
   ruled out. Thus if the index sustains above yesterday’s
   high of 10210 then it is likely to rally towards the
   resistance zone of 10320 – 10355. In this rally, we expect
   SBI, ICICI, IndusInd bank and Uco Bank to give
   substantial returns. On the downside, 10075 – 9986 are
   likely to act as support in coming trading session.

   Actionable points:

             View                      Neutral
    Resistance Levels              10320 – 10355
    Support Levels                  10075 – 9986
                                                                Source: Falcon




For Private Circulation Only |                                                                                    2
                                                                          Technical Research | April 11, 2012


   Positive Bias:


                                                            Positive   Expected
    Stock Name              CMP    5 Day EMA   20 Day EMA                                  Remarks
                                                            Above       Target
       Escorts             76.35      75          73.2       76.7         82       View will change below 72
                                                                                     View will change below
       Vip Inds            104.2     104.4       103.5      105.2        110
                                                                                               101




For Private Circulation Only |                                                                             3
                                                            Technical Research | April 11, 2012



Daily Pivot Levels for Nifty 50 Stocks
  SCRIPS                          S2       S1      PIVOT               R1             R2
   SENSEX                        17,079   17,162   17,218            17,300         17,357
   NIFTY                         5,193    5,218    5,237              5,262          5,281
   BANKNIFTY                     10,028   10,112   10,161            10,245         10,294
   ACC                           1,278    1,289    1,306              1,317          1,333
   AMBUJACEM                      161      164      168               171            175
   AXISBANK                      1,131    1,142    1,151              1,162          1,171
   BAJAJ-AUTO                    1,619    1,633    1,649              1,664          1,680
   BHARTIARTL                     326      328      330               332            335
   BHEL                           249      252      258               262            268
   BPCL                           628      648      665               685            703
   CAIRN                          334      341      347               354            359
   CIPLA                          305      308      311               314            317
   COALINDIA                      327      330      334               337            341
   DLF                            199      201      205               207            210
   DRREDDY                       1,668    1,691    1,723              1,747          1,779
   GAIL                           311      333      347               369            382
   HCLTECH                        479      485      493               500            508
   HDFC                           662      667      671               676            679
   HDFCBANK                       512      518      522               529            532
   HEROMOTOCO                    1,926    1,952    1,970              1,996          2,014
   HINDALCO                       121      123      125               128            130
   HINDUNILVR                     400      407      412               420            425
   ICICIBANK                      845      854      864               874            884
   IDFC                           129      131      133               135            137
   INFY                          2,675    2,723    2,785              2,834          2,896
   ITC                            221      225      228               232            234
   JINDALSTEL                     488      494      503               510            519
   JPASSOCIAT                     77       79       82                 84             86
   KOTAKBANK                      527      537      543               553            559
   LT                            1,255    1,270    1,291              1,306          1,327
   M&M                            677      686      691               699            704
   MARUTI                        1,243    1,259    1,277              1,294          1,312
   NTPC                           160      161      162               164            165
   ONGC                           258      261      266               269            274
   PNB                            891      899      908               916            926
   POWERGRID                      108      109      110               111            112
   RANBAXY                        473      479      488               493            503
   RCOM                           81       83       85                 87             89
   RELIANCE                       734      738      743               747            751
   RELINFRA                       550      562      575               586            599
   RPOWER                         113      116      119               122            124
   SAIL                           91       92       93                 95             96
   SBIN                          2,072    2,112    2,134              2,174          2,196
   SESAGOA                        179      181      184               186            189
   SIEMENS                        756      769      777               790            799
   STER                           102      103      105               106            108
   SUNPHARMA                      553      560      565               572            577
   SUZLON                         24       24       24                 25             25
   TATAMOTORS                     272      278      281               287            291
   TATAPOWER                      98       101      103               106            108
   TATASTEEL                      444      448      454               459            465
   TCS                           1,138    1,147    1,161              1,170          1,185
   WIPRO                          435      440      445               450            455


                                                                    Technical Research Team
For Private Circulation Only |                                                               4
                                                                                                 Technical Research | April 11, 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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