DailyTech Report 23.04.12

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					                                                                                      Technical Research | April 23, 2012



Daily Technical Report


Sensex (17374) / NIFTY (5291)
                                                               Exhibit 1: Nifty Daily Chart
On Friday, our benchmark indices opened on a flat note
and traded in a narrow range during the first half of the
session. However, profit booking during the latter half
dragged indices to close near mentioned support level of
17361 / 5291. On sectoral front, Consumer Goods, Power
and Realty counters were among the major losers, whereas
FMCG and Auto counters ended with a nominal gain. The
advance to decline ratio was in favour of declining counters
(A=1180 D=1621) (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.

• The ‘20-Week EMA’ is placed at 17200 / 5200 level.
                                                               Source: Falcon
• We are witnessing a break out from the ‘Downward
Sloping Trend Line’ resistance around 17400 / 5300 level.



Trading strategy:                                              Actionable points:
                                                                       View                    Positive Above 5343
Broadly speaking, the view on the markets remains
                                                               Expected Targets                   5380 – 5441
unchanged from last week and indices continue to trade in      Support Levels                     5245 - 5217
the trading range of 17000 to 17530 / 5345 to 5180. Only
a breakout from the said range on either side would dictate    As a result, indices may rally towards their next resistance
the direction for the markets. This week indices managed to    levels of 17664 – 17900 / 5380 – 5441. Conversely, the
cross ‘Downward Sloping Trend Line’ resistance of 17400 /      ‘200-day SMA’ level of 16920 / 5135 holds key support in
5300 level during the week. However, the movement above        coming trading sessions. A violation of this swing low may
this resistance was observed on very low volumes and           reinforce the selling pressure and then markets are likely to
hence, cannot be construed as an appropriate technical         drift towards the next support levels of 16828 – 16600 /
breakout. We are of the opinion that, if indices sustain       5076 – 5000.
above the weekly high of 17531 / 5343 on the back of
strong volumes, then we are likely to witness enhanced
buying interest among market participants.




For Private Circulation Only |                                                                                            1
                                                                                  Technical Research | April 23, 2012




    Bank Nifty Outlook - (10457)
                                                                 Exhibit 2: Bank Nifty Daily Chart
   On Friday, similar to the benchmark indices Bank Nifty
   opened on a flat note and traded in a narrow range
   almost throughout the session. However, during the last
   hour of trade we witnessed some selling pressure which
   dragged the index lower to test 10400 level. The trading
   range of 10600 – 10150 mentioned in our previous
   reports is still intact. On the upside only a sustainable
   move above 10650 will give clear direction of uptrend
   and the index may rally towards the resistance zone of
   10750 – 10775. On the downside a sustainable move
   below Friday’s low of 10387 will lead the index to test the
   support zone of 10300 – 10250.
   Actionable points:

             View                       Neutral
    Resistance Levels               10580 – 10650
    Support Levels               10387 - 10300 - 10250
                                                                 Source: Falcon




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                                                                          Technical Research | April 23, 2012


   Positive Bias:


                                                            Positive   Expected
    Stock Name              CMP    5 Day EMA   20 Day EMA                                  Remarks
                                                            Above       Target
                                                                                    View will change below
       TECHM               711.3     711          702         726        760
                                                                                              699




   Negative Bias:


                                                            Negative   Expected
    Stock Name              CMP    5 Day EMA   20 Day EMA                                  Remarks
                                                             Below      Target
      Bombay                                                                        View will change Above
                           548.3     559.3       551.2        545        500
      Dyeing                                                                                   574




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                                                            Technical Research | April 23, 2012



Daily Pivot Levels for Nifty 50 Stocks
  SCRIPS                          S2       S1      PIVOT               R1             R2
   SENSEX                        17,086   17,230   17,375            17,519         17,664
   NIFTY                         5,200    5,245    5,291              5,336          5,382
   BANKNIFTY                     10,283   10,370   10,474            10,560         10,664
   ACC                           1,180    1,203    1,222              1,245          1,264
   AMBUJACEM                      157      159      161               164            166
   AXISBANK                      1,140    1,159    1,182              1,200          1,223
   BAJAJ-AUTO                    1,633    1,671    1,714              1,752          1,796
   BHARTIARTL                     316      320      324               328            332
   BHEL                           237      241      247               251            257
   BPCL                           675      686      697               708            720
   CAIRN                          339      343      349               353            359
   CIPLA                          316      319      321               324            326
   COALINDIA                      352      357      361               366            370
   DLF                            191      194      198               202            206
   DRREDDY                       1,748    1,770    1,793              1,816          1,839
   GAIL                           353      357      361               364            368
   HCLTECH                        493      499      504               510            515
   HDFC                           669      677      684               692            699
   HDFCBANK                       540      546      552               557            563
   HEROMOTOCO                    2,153    2,171    2,194              2,213          2,236
   HINDALCO                       121      123      126               128            130
   HINDUNILVR                     412      418      422               427            431
   ICICIBANK                      842      851      865               875            889
   IDFC                           124      126      130               132            135
   INFY                          2,334    2,370    2,399              2,436          2,465
   ITC                            240      243      245               248            250
   JINDALSTEL                     483      495      507               519            531
   JPASSOCIAT                     75       77       78                 80             82
   KOTAKBANK                      576      584      593               601            611
   LT                            1,253    1,272    1,294              1,313          1,335
   M&M                            696      711      720               736            745
   MARUTI                        1,359    1,375    1,396              1,412          1,433
   NTPC                           161      163      166               168            171
   ONGC                           258      262      269               273            280
   PNB                            879      893      909               922            939
   POWERGRID                      112      113      114               115            116
   RANBAXY                        506      512      519               525            532
   RCOM                           84       85       86                 88             89
   RELIANCE                       720      726      733               739            746
   RELINFRA                       539      546      556               563            572
   RPOWER                         112      113      116               118            120
   SAIL                           95       96       97                 98             99
   SBIN                          2,213    2,237    2,262              2,286          2,311
   SESAGOA                        184      187      191               194            198
   SIEMENS                        794      802      817               826            840
   STER                           106      108      110               111            113
   SUNPHARMA                      573      581      593               601            613
   SUZLON                         23       23       24                 24             24
   TATAMOTORS                     308      313      317               321            325
   TATAPOWER                      101      103      105               107            110
   TATASTEEL                      459      465      470               475            480
   TCS                           1,061    1,075    1,091              1,105          1,122
   WIPRO                          417      421      424               428            432

                                                                    Technical Research Team
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                                                                                                 Technical Research | April 23, 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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