Technical Report 14th March 2012

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Technical Research | March 14, 2012

Yesterday, once again our Benchmark Indices opened with

an optimistic note and traded with positive bias throughout

the day. We witnessed that, indices crossed the much

awaited hurdle of 17692 / 5382 and finally closed above

5400 mark. On the sectoral front, most of the sectors

contributed in the rally. Metal, O il & Gas and Reality

counters were among the major gainers. The advance to

decline ratio was strongly in favor of advancing counters.

(A=1712 D= 1215) (Source –www.bseindia.com)

Formation:

• We are now witnessing a positive crossover in “5 & 20-

day EMA” and “RSI Smoothened” oscillator.

• The Daily momentum oscillators viz., the RSI and the

Stochastic are positively poised.

Trading strategy:

Yesterday, indices opened with an upside gap near the

mentioned resistance of 17692 / 5382 and traded with a

positive bias throughout the day to close near days high.

The rally was in line with expectations and previously

mentioned bullish technical evidences. It was further aided

by positive global cues. Now, on the Daily chart, we are

witnessing a positive crossover in “5 & 20-day EMA” and

“RSI Smoothened” oscillator. This suggests that themomentum on the upside is likely to continue. Also, the

global indices and SGX Nifty suggests that our benchmark

indices may open with an upside gap. Therefore, on the

upside indices are likely to test 18001 – 18140 / 5459 –

5505 levels. On the downside, the immediate support is

seen around 17767 – 17680 / 5417 – 5390 levels.

Daily Technical Report

Sensex (17814) / NIFTY (5430)

Exhibit 1: N ifty Daily Chart

Source: Falcon

Actionable points:

View Bullish Above 5439Expected Targets 5459 – 5505Support level 5417 – 5390





Yesterday, Bank Nifty opened on a flat note and traded in

a narrow range throughout the day to close with a narrow

range body. However, on the daily chart we are

witnessing a positive crossover in “RSI Smoothened”

oscillator which is a sign of strength. There is no

significant change in the outlook based on the daily chart

and hence we reiterate our view that if the Bank Nifty

manages to sustain above 10786 then it is likely to rally

towards 10850 – 11035 levels. On the downside, the

support levels have been shifted to 10671 – 10543 forthe coming trading session.

Actionable points:

View Bull ish Above 10786Expected Targets 10850 - 11035Support Levels 10671 – 10543

Bank N ifty Outlook - (10686)

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 DayEMA

PositiveAbove

ExpectedTarget

Remarks

Ranbaxy 425.5 420.3 428.2 429 440View will change below

424

SterliteIndustries

120.3 117 119.2 121.6 130View will change below

115

AmbujaCement

168 164.3 164.6 170.5 178View will change below

162.5





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,616 17,715 17,779 17,878 17,942

NIFTY 5,372 5,401 5,420 5,449 5,468

BANKNIFTY 10,614 10,650 10,708 10,744 10,802

ACC 1,316 1,328 1,337 1,348 1,357

AMBUJACEM 159 164 167 171 175

AXISBANK 1,230 1,235 1,242 1,247 1,254

BAJAJ-AUTO 1,749 1,766 1,785 1,802 1,822

BHARTIARTL 333 336 339 342 345

BHEL 282 286 292 296 301

BPCL 656 662 669 674 681

CAIRN 369 373 377 381 385

CIPLA 301 304 307 310 313

COALINDIA 336 340 343 346 349

DLF 202 205 208 211 214

DRREDDY 1,682 1,689 1,699 1,706 1,717

GAIL 349 360 366 376 382

HCLTECH 490 498 504 511 517

HDFC 671 677 680 685 689

HDFCBANK 517 521 524 528 531

HEROMOTOCO 1,925 1,944 1,959 1,978 1,994

HINDALCO 136 139 141 143 145

HINDUNILVR 378 380 383 385 388

ICICIBANK 918 924 934 940 949

IDFC 146 147 150 151 154

INFY 2,829 2,845 2,857 2,872 2,885

ITC 206 208 209 210 211JINDALSTEL 573 592 610 629 647

JPASSOCIAT 79 81 83 85 86

KOTAKBANK 557 563 569 575 581

LT 1,345 1,353 1,364 1,372 1,383

M&M 644 650 659 666 675

MARUTI 1,327 1,348 1,366 1,387 1,405

NTPC 171 172 173 174 175

ONGC 275 281 285 291 295

PNB 964 970 978 985 993

POWERGRID 109 110 111 112 113

RANBAXY 413 419 424 430 435

RCOM 95 97 99 102 104RELIANCE 796 808 815 827 834

RELINFRA 637 644 653 659 668

RPOWER 134 136 137 139 140

SAIL 95 98 100 103 104

SBIN 2,298 2,313 2,331 2,346 2,365

SESAGOA 198 203 207 212 216

SIEMENS 792 799 809 816 826

STER 114 117 119 123 125

SUNPHARMA 567 575 583 591 599

SUZLON 27 28 29 30 31

TATAMOTORS 279 281 284 286 290

TATAPOWER 106 107 109 110 112

TATASTEEL 456 462 466 472 476

TCS 1,176 1,186 1,201 1,211 1,226

WIPRO 424 428 431 434 437

Technical Research Team

Daily Pivot Levels for Nif ty 50 Stocks





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 [email protected]

Research Team: 022-3952 6600 Website: www.angelbroking.com

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Technical Report 14th March 2012

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