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    Technical Report 6th January 2012

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    Angel Broking
    The daily technical report summarizes the movement of key indices like Sensex and Nifty on the previous day. It notes that the indices closed near the 4750 level after trading with high volatility. On a sectoral basis, oil & gas, realty and metal sectors underperformed while auto and capital goods performed better. The report provides technical analysis of charts and identifies key support and resistance levels. It also provides recommendations for specific stocks like Tata Coffee with technical justifications.

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    Technical Report 6th January 2012

    Uploaded by

    Angel Broking
    212 views5 pages
    The daily technical report summarizes the movement of key indices like Sensex and Nifty on the previous day. It notes that the indices closed near the 4750 level after trading with high volatility. On a sectoral basis, oil & gas, realty and metal sectors underperformed while auto and capital goods performed better. The report provides technical analysis of charts and identifies key support and resistance levels. It also provides recommendations for specific stocks like Tata Coffee with technical justifications.

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    The daily technical report summarizes the movement of key indices like Sensex and Nifty on the previous day. It notes that the indices closed near the 4750 level after trading with high volatility. On a sectoral basis, oil & gas, realty and metal sectors underperformed while auto and capital goods performed better. The report provides technical analysis of charts and identifies key support and resistance levels. It also provides recommendations for specific stocks like Tata Coffee with technical justifications.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    212 views5 pages

    Technical Report 6th January 2012

    Uploaded by

    Angel Broking
    The daily technical report summarizes the movement of key indices like Sensex and Nifty on the previous day. It notes that the indices closed near the 4750 level after trading with high volatility. On a sectoral basis, oil & gas, realty and metal sectors underperformed while auto and capital goods performed better. The report provides technical analysis of charts and identifies key support and resistance levels. It also provides recommendations for specific stocks like Tata Coffee with technical justifications.

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    Attribution Non-Commercial (BY-NC)
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    Technical Research | January 06, 2012

    Daily Technical Report


    Sensex (15857) / NIFTY (4750)
    Yesterday, markets opened flat and similar to Wednesdays session traded with extreme volatility throughout the day. As a result, indices closed near the 4750 mark. On the sectoral front, Oil & Gas, Realty and Metal sectors were among the major losers, whereas Auto and Capital Goods counters ended on a gaining side. The advance to decline ratio was in favor of gaining counters. (A=1443 D=1236). (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation
    The 20 day EMA has now shifted to 15839 / 4743 level. On the Daily chart, the positive crossover in RSI,

    Stochastic, 3 & 8 EMA and ADX (9) is still intact. The Daily chart depicts a candlestick pattern which
    Source: Falcon

    resembles a Long Legged Doji.

    Actionable points: Trading strategy:


    Yet another trading session ended with high volatility and indices failed to cross 16070 / 4820 level. Therefore, this level remains to be a stiff and important resistance level for the markets. The positive crossover in mentioned technical tools may come into action if indices break and sustain above 16070 / 4820. In this case, strong buying is likely to emerge and indices then may head towards the next resistance levels of 16286 16421/ 4881 4920. Conversely, we are now observing a Long Legged Doji candlestick pattern, which indicates uncertainty among the bulls and the bears. Thus, a selling pressure may increase on the violation of yesterdays low of 15809 / 4728. In this scenario, indices may test 15756 15680 / 4708 4685 levels. View Expected Targets Support levels View Expected Targets Resistance levels Positive Above 4820 4881 4920 4725 4675 Negative Below 4728 4708 4685 4783 4820

    For Private Circulation Only |

    Technical Research | January 06, 2012

    Bank Nifty Outlook - (8455)


    Yesterday, Bank Nifty opened on an optimistic note and traded with extreme volatility throughout the session. The index has closed well above the 20 EMA which is a sign of strength. On the contrary, we are witnessing a negative crossover in RSI - Smoothened oscillator on the hourly chart, which indicates bearishness. Therefore, if Bank Nifty sustains below yesterdays low of 8394, then it is likely to test the 8322 - 8275 levels. On the upside, 8520 is likely to act as resistance in coming trading session. A sustainable move above 8520 level may lead to a further rise and index may test the resistance zone of 8580 8604.

    Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Expected Target Support Levels View Expected Target Resistance Levels Positive Above 8520 8580 8604 8322 -8275 Negative Below 8394 8322 - 8275 8520

    Stock Recommendations:
    Stock TATA COFFEE ltd. (NSE Cash) Action Buy Last close Buying Range Stop Loss Target ` 797.45 ` 795 - `801 ` 777 ` 852

    Exhibit 3: TATA COFFEE ltd. (NSE Cash)

    Justification On the Daily chart, the stock has given a trend line breakout at ` 796 with significant rise in volumes. We are even witnessing a positive crossover in 5 & 20 EMA on a daily chart, which suggest further upside in coming trading sessions. Hence, we advise buying the stock in the range of ` 795 - ` 801 for a target of ` 852 in coming 3 - 4 trading sessions.

    Source: Falcon

    For Private Circulation Only |

    Technical Research | January 06, 2012

    Positive Bias:

    Stock Name PNB Mundra Port

    CMP 826.8 126.7

    5 Day EMA 803.5 122.8

    20 Day EMA 822.1 124.5

    Expected Target 865 133.5

    Remarks View will change below 806 View will change below 123.5

    Negative Bias:

    Stock Name Jain Irrigation Biocon

    CMP 90.5 274

    5 Day EMA 90.8 275.2

    20 Day EMA 94 280.6

    Expected Target 84 261

    Remarks View will change above 95.5 View will change above 284

    For Private Circulation Only |

    Technical Research | January 06, 2012

    Daily Pivot Levels for Nifty 50 Stocks


    SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA DLF DRREDDY GAIL HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 15,711 4,704 8,333 1,065 142 831 1,400 338 247 448 322 327 173 1,553 369 405 655 437 1,757 114 384 730 95 2,805 197 470 52 426 1,053 620 913 152 255 785 100 428 72 240 675 349 70 82 1,659 159 649 91 489 17 197 90 352 1,157 405 S1 15,784 4,727 8,394 1,089 148 851 1,434 341 251 454 331 331 177 1,567 375 410 663 440 1,793 115 389 739 98 2,822 198 476 54 436 1,070 635 923 154 259 806 101 434 73 244 687 354 70 83 1,675 162 655 93 495 18 200 92 358 1,165 410 PIVOT 15,882 4,753 8,455 1,106 151 865 1,454 345 256 464 336 335 182 1,585 385 417 668 444 1,818 117 394 748 100 2,849 199 481 56 442 1,083 643 936 158 264 821 101 439 74 247 706 360 71 84 1,697 165 661 95 503 19 203 93 365 1,175 416 R1 15,955 4,776 8,516 1,130 157 885 1,488 348 260 470 345 339 185 1,599 391 422 676 447 1,853 118 398 757 103 2,867 201 486 57 452 1,100 659 946 160 267 842 102 445 75 251 718 365 72 85 1,714 168 667 96 508 19 205 95 370 1,182 422 R2 16,053 4,803 8,577 1,147 161 899 1,508 352 264 480 350 342 191 1,616 401 430 681 450 1,879 120 403 766 105 2,894 202 491 59 458 1,113 667 958 163 273 856 103 451 76 255 737 371 73 87 1,736 171 673 98 516 20 208 96 377 1,192 428

    Technical Research Team


    For Private Circulation Only |

    Technical ResearchTechnical06, 2012 | January Report

    RESEARCH TEAM
    Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head - Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

    For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com Research Team: 022-3952 6600 Website: www.angelbroking.com

    DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and must not
    be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. Opinion expressed is our current opinion as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true and are for general guidance only. While every effort is made to ensure the accuracy and completeness of information contained, the company takes no guarantee and assumes no liability for any errors or omissions of the information. No one can use the information as the basis for any claim, demand or cause of action. Recipients of this material should rely on their own investigations and take their own professional advice. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions - futures, options and other derivatives as well as non-investment grade securities - involve substantial risks and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a company's fundamentals and as such, may not match with a report on a company's fundamentals. We do not undertake to advise you as to any change of our views expressed in this document. While we would endeavor to update the information herein on a reasonable basis, Angel Broking, its subsidiaries and associated companies, their directors and employees are under no obligation to update or keep the information current. Also there may be regulatory, compliance, or other reasons that may prevent Angel Broking and affiliates from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Angel Broking Limited and affiliates, including the analyst who has issued this report, may, on the date of this report, and from time to time, have long or short positions in, and buy or sell the securities of the companies mentioned herein or engage in any other transaction involving such securities and earn brokerage or compensation or act as advisor or have other potential conflict of interest with respect to company/ies mentioned herein or inconsistent with any recommendation and related information and opinions. Angel Broking Limited and affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past.

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