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					Daily Technical Report
May 08, 2012




Sensex (16913) / NIFTY (5114)
                                                            Exhibit 1: Nifty Daily Chart
The week opened on a very pessimistic note as indices
opened significantly lower in-line with global cues.
However, as expected and mentioned, clarification on
GAAR had a significant impact on the Indices and a
bounce towards the latter part of the session led
indices to close on the positive note. On sectoral front,
Capital Goods, Metal and Consumer Durables
counters contributed heavily in yesterday’s sharp
bounce; whereas FMCG, Oil & Gas sectors ended
marginally on losing side. The advance to decline
ratio was in favor of advancing counters (A=1440
D=1270) (Source –www.bseindia.com)


Formation

    The 200-day SMA (Simple Moving Average) and            Source: Falcon
     20-day EMA (Exponential Moving Average) have
     now shifted to 17100 / 5120 and 17220 /
     5225, respectively.
    The ‘20-Week EMA’ is placed at 17200 / 5200
     level.
                                                            Actionable points:
    We are now witnessing a negative crossover in                                         Bullish Above
                                                             View
     weekly ‘5 & 20 EMA’.                                                                      5125
                                                             Expected Targets              5177 – 5210
    Indices have now tested 16830 / 5080 which is
                                                             Support Level                     4988
     the 50% Fibonacci Retracement level of the rise
     from 15135 / 4531 (Low on December 23,
     2011) to 18524 / 5630 (High on February,
     2012).
Trading strategy:

Yesterday, markets opened significantly lower on the
back of negative sentiments swaying across global
bourses and subsequently indices slipped marginally
below 5000 mark. However, deferment of
implementation of GAAR by the Finance Minister and
Rupee appreciation during the latter half of the
session led indices to bounce sharply from day’s low.
We are now observing that hourly momentum
oscillators are positively poised. These technical tools
can come into action if indices manage to sustain
above yesterday’s high of 19514 / 5125. In this
scenario, indices may rally towards 17122 – 17200 /
5177 – 5210 levels. Conversely, yesterday’s low of
16513 / 4988 may provide decent support for the
markets.




www.angelbroking.com                                                                                       1
Daily Technical Report
May 08, 2012




Bank Nifty Outlook - (9876)
Yesterday, Bank Nifty opened on a flat note and         Exhibit 2: Bank Nifty Daily Chart
drifted below the “200 – day SMA” support level
during the day but managed to give a close well
above this support. During the day the index found
support near its prior swing low of 9509 and bounced
back sharply. Going forward yesterday’s low of 9480
holds significant importance. We expect volatility to
continue as the oscillators on the daily and hourly
chart paint mixed picture. Thus on the upside 9975 –
10140 levels are likely to act as resistance zone and
9695 – 9568 are likely to act as support in coming
trading session.
Actionable points:
 View                                     Neutral
 Resistance Levels                      9975 –10140
 Support Levels                         9695 – 9568     Source: Falcon



                                                        Positive Bias:
                                                        Stock                    Positive   Expected
                                                                          CMP                          Remarks
                                                        Name                      Above       Target
                                                                                                       View will be
                                                        HINDALCO         115.7    116.5         126
                                                                                                       negated below 112




www.angelbroking.com                                                                                                       2
Daily Technical Report
May 08, 2012

  Daily Pivot Levels for Nifty 50 Stocks
  SCRIPS                             S2       S1       PIVOT    R1       R2
   SENSEX                            16,360   16,636   16,790   17,067   17,221
   NIFTY                             4,939    5,027    5,076    5,163    5,212
   BANKNIFTY                         9,326    9,601    9,756    10,031   10,186
   ACC                               1,166    1,201    1,221    1,256    1,277
   AMBUJACEM                         137      141      144      148      151
   ASIANPAINT                        3,464    3,554    3,636    3,726    3,807
   AXISBANK                          946      984      1,007    1,045    1,068
   BAJAJ-AUTO                        1,447    1,482    1,506    1,542    1,566
   BANKBARODA                        641      660      674      694      708
   BHARTIARTL                        304      310      314      320      324
   BHEL                              201      214      221      234      241
   BPCL                              637      661      680      705      724
   CAIRN                             311      318      322      328      332
   CIPLA                             323      325      328      331      334
   COALINDIA                         321      325      329      332      336
   DLF                               171      180      186      196      202
   DRREDDY                           1,685    1,700    1,723    1,738    1,761
   GAIL                              311      315      319      323      328
   GRASIM                            2,239    2,365    2,445    2,571    2,651
   HCLTECH                           492      497      504      509      517
   HDFC                              640      652      659      671      678
   HDFCBANK                          510      521      528      539      546
   HEROMOTOCO                        1,862    1,908    1,940    1,986    2,017
   HINDALCO                          111      113      115      117      119
   HINDUNILVR                        421      425      430      434      439
   ICICIBANK                         776      812      833      869      890
   IDFC                              107      113      116      121      124
   INFY                              2,337    2,387    2,418    2,468    2,499
   ITC                               231      233      236      239      242
   JINDALSTEL                        457      480      494      517      531
   JPASSOCIAT                        65       67       69       71       73
   KOTAKBANK                         544      560      570      587      597
   LT                                1,074    1,138    1,177    1,241    1,280
   M&M                               656      673      686      703      716
   MARUTI                            1,223    1,267    1,298    1,342    1,373
   NTPC                              151      153      155      158      160
   ONGC                              253      257      260      263      266
   PNB                               750      773      788      811      827
   POWERGRID                         102      104      105      107      109
   RANBAXY                           486      495      500      510      515
   RELIANCE                          697      707      714      723      731
   RELINFRA                          463      488      502      527      541
   SAIL                              89       91       92       94       96
   SBIN                              1,817    1,923    1,981    2,087    2,145
   SESAGOA                           173      178      182      187      190
   SIEMENS                           714      737      754      777      793
   STER                              96       99       101      105      107
   SUNPHARMA                         590      595      600      605      610
   TATAMOTORS                        285      297      303      315      322
   TATAPOWER                         96       99       101      104      105
   TATASTEEL                         413      427      436      450      458
   TCS                               1,237    1,255    1,267    1,285    1,297
   WIPRO                             400      407      414      421      427




www.angelbroking.com                                                              3
Daily Technical Report
May 08, 2012


Research Team Tel: 022 - 39357800                  E-mail: research@angelbroking.com                     Website: www.angelbroking.com

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Research Team
Shardul Kulkarni            -         Head – Technicals
Sameet Chavan               -         Technical Analyst
Sacchitanand Uttekar        -         Technical Analyst
Mehul Kothari               -         Technical Analyst
Ankur Lakhotia              -         Technical Analyst

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www.angelbroking.com                                                                                                                      4