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DailyTech Report 20.03.12

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					                                                                                   Technical Research | March 20, 2012



Daily Technical Report


Sensex (17273) / NIFTY (5257)
                                                               Exhibit 1: Nifty Daily Chart
Yesterday, markets opened on a quiet note in-line with
other Asian markets. However, selling pressure intensified
as the day progressed which led indices to close in the
negative territory. On the sectoral front, Realty, Power and
Capital Goods were among the major losers, whereas
FMCG ended on a gaining side. The advance to decline
ratio was strongly in favor of declining counters. (A=1004
D=1868) (Source –www.bseindia.com)

Formation:
•    The 200-day SMA (Simple Moving Average) and 20-
day EMA (Exponential Moving Average) have now shifted to
17164 / 5163 and 17575 / 5344, respectively.

•    The “20-Week EMA” is placed at 17150 / 5188 level.

•    The Daily momentum oscillators and “3 & 8 EMA” are
negatively poised.

•    Indices have closed around the “Upward Sloping Trend
Line” level of 17250 / 5255.                                   Source: Falcon

Trading strategy:                                              Actionable points:
                                                                        View                        Neutral
After a flat opening, indices witnessed a strong selling
                                                               Support Levels                 5238 - 5188 – 5163
pressure throughout the day. As mentioned in our previous      Resistance Levels                 5305 – 5341
report, the negative impact of the technical tools such as,
momentum oscillators and “3 & 8 EMA” was seen on the
violation of Friday’s low 17426 / 5305. Subsequently,
indices drifted down to fill the upward gap created on
March 9, 2012 and eventually closed around this support
zone. This also coincides with the “Upward Sloping Trend
Line” level of 17250 / 5255. Going forward, if indices
manage to sustain below yesterday’s low of 17226 / 5238,
then we may see further selling pressure and indices may
slide down to test strong support zone of 17164 – 17150 /
5188 – 5163. Conversely, 17426 – 17562 / 5305 – 5341
levels may act as a intermediate resistances for the coming
trading session. A close beyond 17562 / 5341 would be a
sign of reversal of bearish momentum.




For Private Circulation Only |                                                                                     1
                                                                                 Technical Research | March 20, 2012




    Bank Nifty Outlook - (10189)
                                                                Exhibit 2: Bank Nifty Daily Chart
   Yesterday, Bank Nifty opened on a pessimistic note and
   selling pressure dragged the index lower to test 78.6%
   retracement of the rise from March 7, 2012 – March 14,
   2012. The index has managed to give a close well below
   its “20 EMA” and there is a negative crossover in “RSI -
   Smoothened” oscillator on the daily chart, which is a sign
   of weakness in the index. On the flip side, the momentum
   oscillators on the hourly chart are in an oversold
   condition and the possibility of minor pullback from the
   78.86% retracement support cannot be ruled out. Thus,
   on the upside 10432 – 10524 levels are likely to act as
   intermediate resistance in coming trading session. A
   breach of yesterday’s low of 10135 would signal
   likelihood of further selling pressure and the index may
   drift towards 10040 – 9939 levels.



   Actionable points:

             View                       Neutral
    Resistance Levels               10432 - 10524
    Support Levels               10135 – 10040 - 9939
                                                                Source: Falcon




For Private Circulation Only |                                                                                    2
                                                                     Technical Research | March 20, 2012




   Positive Bias:


                                              20 Day   Positive   Expected
    Stock Name             CMP    5 Day EMA                                          Remarks
                                               EMA     Above       Target
       Glaxo                                                                  View will change below
                           2145     2122      2087      2155       2235
      Pharma                                                                           2115



   Negative Bias:


                                              20 Day   Negative   Expected
    Stock Name             CMP    5 Day EMA                                          Remarks
                                               EMA      Below      Target
       Arvind                                                                 View will change above
                           82.2      84        86.5      81        74.5
       Limited                                                                           85




For Private Circulation Only |                                                                         3
                                                          Technical Research | March 20, 2012



Daily Pivot Levels for Nifty 50 Stocks
  SCRIPS                          S2       S1      PIVOT              R1            R2
   SENSEX                        17,019   17,146   17,354           17,481         17,689
   NIFTY                         5,177    5,217    5,279             5,319         5,381
   BANKNIFTY                     9,949    10,069   10,255           10,375         10,561
   ACC                           1,296    1,326    1,355             1,384         1,413
   AMBUJACEM                      162      165      169              171            175
   AXISBANK                      1,159    1,179    1,209             1,228         1,258
   BAJAJ-AUTO                    1,672    1,691    1,713             1,732         1,754
   BHARTIARTL                     317      321      326              330            335
   BHEL                           249      255      265              270            280
   BPCL                           649      657      663              672            678
   CAIRN                          329      341      348              359            366
   CIPLA                          297      299      302              304            307
   COALINDIA                      328      331      336              340            344
   DLF                            186      190      194              197            202
   DRREDDY                       1,639    1,657    1,672             1,689         1,704
   GAIL                           355      359      365              369            375
   HCLTECH                        482      490      496              505            511
   HDFC                           633      642      657              665            681
   HDFCBANK                       486      493      501              508            516
   HEROMOTOCO                    1,897    1,919    1,942             1,964         1,987
   HINDALCO                       137      139      141              143            145
   HINDUNILVR                     382      388      394              400            406
   ICICIBANK                      876      892      911              927            947
   IDFC                           132      135      139              142            146
   INFY                          2,761    2,799    2,850             2,888         2,938
   ITC                            212      216      220              224            228
   JINDALSTEL                     550      564      572              587            595
   JPASSOCIAT                     71       73       77                79            82
   KOTAKBANK                      519      525      531              538            544
   LT                            1,262    1,279    1,303             1,321         1,345
   M&M                            676      684      691              698            705
   MARUTI                        1,339    1,351    1,365             1,376         1,390
   NTPC                           169      170      173              174            176
   ONGC                           263      268      272              276            280
   PNB                            896      912      941              956            985
   POWERGRID                      104      106      107              109            110
   RANBAXY                        390      395      404              410            419
   RCOM                           85       88       91                93            97
   RELIANCE                       731      743      763              775            795
   RELINFRA                       559      576      607              624            655
   RPOWER                         119      123      128              131            137
   SAIL                           90       92       94                96            98
   SBIN                          2,095    2,126    2,182             2,213         2,269
   SESAGOA                        191      194      200              203            209
   SIEMENS                        742      758      771              787            800
   STER                           110      112      115              117            120
   SUNPHARMA                      537      546      552              561            566
   SUZLON                         26       27       28                28            29
   TATAMOTORS                     275      279      286              290            297
   TATAPOWER                      99       101      104              105            108
   TATASTEEL                      435      442      453              459            470
   TCS                           1,077    1,099    1,134             1,157         1,192
   WIPRO                          417      422      426              431            435


                                                                   Technical Research Team
For Private Circulation Only |                                                              4
                                                                                               Technical Research | March 20, 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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