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    Technical Report 26th March 2012

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    Angel Broking
    The daily technical report provides an analysis of key Indian stock market indices and notes that they closed higher on Friday despite heavy losses the previous day. The report examines sector performances and identifies support and resistance levels. It recommends adopting a stock-specific approach and trading with strict stop losses due to expected high volatility around the upcoming derivative contract expiry.

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    Technical Report 26th March 2012

    Uploaded by

    Angel Broking
    249 views5 pages
    The daily technical report provides an analysis of key Indian stock market indices and notes that they closed higher on Friday despite heavy losses the previous day. The report examines sector performances and identifies support and resistance levels. It recommends adopting a stock-specific approach and trading with strict stop losses due to expected high volatility around the upcoming derivative contract expiry.

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    The daily technical report provides an analysis of key Indian stock market indices and notes that they closed higher on Friday despite heavy losses the previous day. The report examines sector performances and identifies support and resistance levels. It recommends adopting a stock-specific approach and trading with strict stop losses due to expected high volatility around the upcoming derivative contract expiry.

    Copyright:

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

    Technical Report 26th March 2012

    Uploaded by

    Angel Broking
    The daily technical report provides an analysis of key Indian stock market indices and notes that they closed higher on Friday despite heavy losses the previous day. The report examines sector performances and identifies support and resistance levels. It recommends adopting a stock-specific approach and trading with strict stop losses due to expected high volatility around the upcoming derivative contract expiry.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 5

    Technical Research | March 26, 2012

    Daily Technical Report Sensex (17362) / NIFTY (5278)


    On Friday, our Benchmark indices closed on a positive note in spite of biggest intraday loss on Thursday, in the whole of 2012. Most high beta counters bounced off their lows on the back of short covering and are near to critical support levels. On sectoral front, Teck, Realty and IT counters were among the major gainers. Consumer durables and Metal counters ended with marginal loss. The advance to decline ration was marginally in favour of advancing counters (A=1470 D=1431) (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation:
    The 200-day SMA (Simple Moving Average) and 20day EMA (Exponential Moving Average) have now shifted to 17164 / 5163 and 17607 / 5350, respectively. The 20-Week EMA is placed at 17150 / 5188 level.
    Source: Falcon

    Trading strategy:
    Broadly speaking, Indices are trading in the range of 17687 to 17008 / 5386 to 5171. Clarity of trend will emerge only if after we witness a breakout on either side from the said range. On the upside, the positive trend will resume once markets trade and close beyond 17687 / 5386. In this scenario, indices are likely to surge towards the next resistance levels of 18041 18524 / 5500 5610. Conversely, the 17008 / 5171 level is a key support for the market. A sustainable move below this level may reinforce selling pressure, which may drag indices lower to test the support zone of 16828 16600 / 5076 5000.

    Actionable points:
    View Resistance Levels Support Levels Neutral 5312 - 5386 5225 5200 - 5171

    Extreme volatility is likely to continue in the coming week on account of the derivative expiry. We advise traders to adopt stock specific approach and trade with strict stop loss.

    For Private Circulation Only |

    Technical Research | March 26, 2012

    Bank Nifty Outlook - (10295)


    On Friday, Bank Nifty opened on a flat note and traded with extreme volatility throughout the session to close marginally above the initial opening level. The index tested both the mentioned resistance as well as support levels of 10413 and 10135 respectively. Looking at the hourly charts, it can be seen that the Bank Nifty is in a broad trading range of 10600 10100. Only a breakout or a breakdown from the mentioned range will dictate the direction of the trend. The momentum oscillators on the hourly and daily charts paint a mixed picture; and hence volatility is likely to increase in the next few sessions. On the upside 10413 10600 levels are likely to act as resistance within the range. On the downside 10100 may act as support. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Resistance Levels Support Levels Neutral 10413 - 10600 10100

    Source: Falcon

    For Private Circulation Only |

    Technical Research | March 26, 2012

    Positive Bias:
    Positive Above 375 Expected Target 400

    Stock Name GAIL

    CMP 370

    5 Day EMA 366.7

    20 Day EMA 367.5

    Remarks View will change below 363

    For Private Circulation Only |

    Technical Research | March 26, 2012

    Daily Pivot Levels for Nifty 50 Stocks


    SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA 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 RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,054 5,178 9,996 1,322 165 1,128 1,604 313 254 657 341 295 323 189 1,634 351 470 653 493 1,863 126 392 884 132 2,810 217 511 75 506 1,267 666 1,270 169 262 920 105 400 86 732 569 116 91 2,089 190 761 107 549 26 264 97 436 1,153 417 S1 17,208 5,228 10,145 1,347 169 1,154 1,657 325 260 669 348 298 329 193 1,650 360 477 657 504 1,940 128 397 897 133 2,841 220 524 77 516 1,284 677 1,288 170 265 935 106 408 88 738 582 119 93 2,128 194 770 110 565 27 268 98 442 1,169 421 PIVOT 17,333 5,270 10,275 1,366 172 1,178 1,700 332 265 678 353 300 336 196 1,662 368 483 660 511 1,999 132 402 910 136 2,862 222 539 79 524 1,304 686 1,304 172 268 948 107 413 89 744 594 122 95 2,166 199 781 113 575 28 272 99 449 1,180 424 R1 17,487 5,320 10,424 1,391 176 1,204 1,753 344 271 690 359 304 342 199 1,678 377 491 664 521 2,077 135 408 924 138 2,894 225 551 81 534 1,321 697 1,323 173 271 964 109 421 91 750 607 125 96 2,205 203 790 115 590 29 276 101 455 1,196 429 R2 17,612 5,362 10,553 1,410 179 1,228 1,796 351 276 700 364 306 349 202 1,690 384 497 668 529 2,136 138 413 937 140 2,914 227 566 83 543 1,341 706 1,339 175 275 977 110 425 93 755 619 127 98 2,244 207 801 118 601 29 280 102 462 1,208 432

    Technical Research Team


    For Private Circulation Only |

    Technical Research | March 26, 2012 Technical 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 [email protected] 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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    For Private Circulation Only |

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