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    Technical Report 11th January 2012

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    Angel Broking
    The daily technical report provides an analysis of the Sensex and Nifty stock indices in India. It notes that the markets closed at high levels with gains in the realty, capital goods and banking sectors. Momentum indicators show a positive crossover, and the indices have broken above a downward trendline resistance. The report recommends buying strategies and identifies support and resistance levels. Bank Nifty is also analyzed and found to have broken a trendline, suggesting it may rise to new highs if levels are sustained.

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    Technical Report 11th January 2012

    Uploaded by

    Angel Broking
    211 views5 pages
    The daily technical report provides an analysis of the Sensex and Nifty stock indices in India. It notes that the markets closed at high levels with gains in the realty, capital goods and banking sectors. Momentum indicators show a positive crossover, and the indices have broken above a downward trendline resistance. The report recommends buying strategies and identifies support and resistance levels. Bank Nifty is also analyzed and found to have broken a trendline, suggesting it may rise to new highs if levels are sustained.

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    The daily technical report provides an analysis of the Sensex and Nifty stock indices in India. It notes that the markets closed at high levels with gains in the realty, capital goods and banking sectors. Momentum indicators show a positive crossover, and the indices have broken above a downward trendline resistance. The report recommends buying strategies and identifies support and resistance levels. Bank Nifty is also analyzed and found to have broken a trendline, suggesting it may rise to new highs if levels are sustained.

    Copyright:

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

    Technical Report 11th January 2012

    Uploaded by

    Angel Broking
    The daily technical report provides an analysis of the Sensex and Nifty stock indices in India. It notes that the markets closed at high levels with gains in the realty, capital goods and banking sectors. Momentum indicators show a positive crossover, and the indices have broken above a downward trendline resistance. The report recommends buying strategies and identifies support and resistance levels. Bank Nifty is also analyzed and found to have broken a trendline, suggesting it may rise to new highs if levels are sustained.

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    Technical Research | January 11, 2012

    Daily Technical Report Sensex (16165) / NIFTY (4850)


    Yesterday, markets opened on an optimistic note and traded with positive bias throughout the day. Strong positive momentum towards the end of the session pushed indices to close almost at the highest point of the day. On the sectoral front, Realty, Capital Goods and Banking sectors contributed heavily in yesterdays rally. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of gaining counters. (A=2136 D=673). (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation:
    We are witnessing a positive crossover in weekly momentum oscillators viz., the RSI and the Stochastic. On the Daily chart, we are now witnessing a breakout
    Source: Falcon

    from the Downward Sloping Trend Line resistance around 16070 / 4820 level.

    Trading strategy:
    Indices opened higher in-line with global cues and finally after several attempts, managed to cross mentioned resistance level of 16070 / 4820. The impact of positive crossover in weekly momentum oscillator was seen as indices closed well above the Downward Sloping Trend Line resistance (which was also 16070 / 4820). Thus going forward, indices are likely to head towards the next resistance levels of 16286 16421/ 4881 4920. A move beyond 16421 / 4920 level may push indices even higher to test 16600 17004 / 4976 5100. On the downside, 16070 15950 / 4820 4780 levels may provide decent support in coming trading sessions.

    Actionable points:
    View Expected Targets Support level Positive Above 4855 4881 4920 4820 - 4780

    For Private Circulation Only |

    Technical Research | January 11, 2012

    Bank Nifty Outlook - (8735)


    Yesterday, Bank Nifty opened with a minor gap and gained strength as the day progressed to close near days high. We are now witnessing a trend line breakout joining the highs 10080 9273 formed on 31st October 2011 and 7th December 2011. We are also witnessing a positive crossover in ADX (14) indicator. Thus, if Bank Nifty manages to sustain above yesterdays high of 8749 then it is likely to test 8923 8950 levels. On the downside, 8650 8535 levels may act a as support in coming trading session.

    Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Expected Target Support Levels
    Positive Above 8749

    8923 - 8950 8650 - 8535


    Source: Falcon

    For Private Circulation Only |

    Technical Research | January 11, 2012

    Positive Bias:
    Expected Target 67 700 131

    Stock Name HDIL Hdfc Ltd. Hindalco

    CMP 62.6 684 123.2

    5 Day EMA 59 671.6 119.5

    20 Day EMA 58.4 661 120

    Remarks View will change below 59 View will change below 672 View will change below 118

    For Private Circulation Only |

    Technical Research | January 11, 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 15,799 4,737 8,460 1,089 149 855 1,401 316 254 464 331 340 174 1,592 377 415 658 453 1,713 117 388 739 99 2,838 201 470 53 449 1,078 642 970 155 256 813 100 433 77 254 702 371 73 85 1,627 161 670 93 501 19 199 90 357 1,143 399 S1 15,982 4,793 8,598 1,102 151 875 1,415 323 259 473 334 343 179 1,605 379 418 671 456 1,744 120 392 757 101 2,851 203 485 54 458 1,106 666 978 156 259 836 101 437 79 268 719 385 76 87 1,665 164 688 95 509 19 202 92 364 1,154 401 PIVOT 16,081 4,825 8,673 1,114 152 886 1,440 328 263 480 338 346 183 1,616 382 419 679 459 1,762 122 395 768 102 2,863 204 495 55 464 1,123 680 986 158 261 852 102 442 80 276 729 395 79 88 1,687 167 700 95 514 19 204 93 369 1,170 404 R1 16,265 4,881 8,811 1,127 154 906 1,454 335 269 489 341 349 188 1,629 383 421 692 463 1,793 125 399 786 103 2,876 207 510 56 472 1,151 704 994 160 263 876 104 446 82 290 746 409 82 89 1,725 170 718 97 522 20 207 95 376 1,181 407 R2 16,364 4,912 8,886 1,139 155 917 1,478 341 273 496 345 352 192 1,639 386 423 700 466 1,811 127 403 797 104 2,888 208 520 56 478 1,168 718 1,001 162 266 892 105 451 84 298 756 418 84 90 1,747 173 730 98 527 20 210 97 381 1,197 410

    Technical Research Team


    For Private Circulation Only |

    Technical ResearchTechnical11, 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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