technical report 27th january 2012

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Technical Research | January 27, 2012

On Wednesday, markets opened on a higher note for the

second consecutive session. After immense volatility on

account of derivative expiry for the January series, Indices

managed to close marginally above 17000 / 5150 mark.

On the sectoral front, Metal, PSU and Teck counters were

among the major gainers, whereas Capital goods ended

with a marginal loss. The advance to decline ratio was

strongly in favor of advancing counters. (A= 1808 D= 1040)

(Source -www.bseindia.com)

Formation:

• We are witnessing a positive crossover on weekly “RSI –

Smoothened” oscillator.

• Indices are now trading above a “Downward Sloping

Trend Line” joining July 8, 2011 high of 19132 / 5740 and

October 20, 2011 high of 17908 / 5400

• The 200-day SMA is now placed around 17356 / 5210

level.

Trading strategy:

We witnessed a very volatile session on Wednesday due to

derivative expiry. However, indices maintained their early

gains and managed to close above the “Downward Sloping

Trend Line” resistance. Thus Indices are likely to test 200-

day SMA placed around 17356 / 5210 level if they manage

to sustain above Wednesday’s high of 17130 / 5174 level.

However, we are now observing a “Narrow range body”

formation on daily chart, which indicates an uncertainty

among the bulls and the bears. Thus, if Wednesday’s low of

17016 / 5130 is violated, then indices are likely to drift

towards 16846 / 5080 level.

Daily Technical Report

Sensex (17077) / NIFTY (5158)

Exhibit 1: Ni fty Daily Chart

Source: Falcon

Actionable points:

View BearishSell Only below 5130Expected target 5080 – 5050Resistance levels 5174 - 5210





On Wednesday, Bank Nifty opened on a flat note and

traded with immense volatility to close marginally below the

initial opening level. Similar to the benchmark indices, we

are now witnessing a narrow range body formation on the

daily charts, which is a sign of indecision prevailing at

current levels. Therefore, if the index manages to sustain

above Wednesday’s high of 9906 then it is likely to test

9967 – 10017 levels. At present, the momentum indicators

suggest that the Index is in an overbought condition and a

small correction cannot be ruled out. In such a scenario, ifBank Nifty sustains below Wednesday’s low of 9762 then it

is likely to test 9680 – 9550 levels.

Actionable points:

View Positive Above 9906

Expected TargetSupport Levels

9967 - 100179760 – 9680 - 9550

View Negative Below 9760

Expected Target

Resistance Levels

9680 - 9550

9906 – 9967 - 10017

Bank N ifty Outlook - (9857)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 Day EMA ExpectedTarget

Remarks

CromptonGreaves

142.3 137.8 133.5 147.5 View will change below 137

GMDC 185 180.8 174.6 193 View will change below 179

Negative Bias:

Stock Name CMP 5 Day EMA 20 Day EMAExpectedTarget

Remarks

Hero Motor 1853.9 1873.2 1857.4 1770 View will change above 1913





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 16,961 17,019 17,075 17,133 17,188

NIFTY 5,110 5,134 5,154 5,178 5,198

BANKNIFTY 9,699 9,778 9,842 9,921 9,985

ACC 1,151 1,162 1,179 1,191 1,208

AMBUJACEM 157 159 161 163 166

AXISBANK 998 1,031 1,053 1,086 1,109

BAJAJ-AUTO 1,548 1,568 1,589 1,609 1,629

BHARTIARTL 349 354 359 364 370

BHEL 276 279 282 285 288

BPCL 544 562 576 594 608

CAIRN 329 337 352 360 375

CIPLA 338 340 343 345 348

DLF 216 217 220 222 224

DRREDDY 1,616 1,633 1,644 1,661 1,672

GAIL 361 364 367 370 373

HCLTECH 410 415 423 428 436

HDFC 699 704 708 713 717

HDFCBANK 482 486 490 494 497

HEROMOTOCO 1,801 1,828 1,862 1,888 1,922

HINDALCO 138 140 143 145 148

HINDUNILVR 384 389 394 399 404

ICICIBANK 856 868 881 894 907

IDFC 125 127 129 131 132

INFY 2,605 2,636 2,655 2,686 2,705

ITC 204 205 206 207 208

JINDALSTEL 525 533 543 551 561

JPASSOCIAT 69 71 72 74 76

KOTAKBANK 476 486 492 502 508

LT 1,287 1,309 1,338 1,360 1,389

M&M 676 681 687 692 698

MARUTI 1,118 1,149 1,174 1,205 1,230

NTPC 173 174 175 176 178

ONGC 267 270 273 276 279

PNB 972 986 1,002 1,016 1,032

POWERGRID 99 100 101 102 103

RANBAXY 460 467 473 480 486

RCOM 92 94 96 98 99

RELCAPITAL 331 338 344 351 357RELIANCE 777 784 790 796 802

RELINFRA 461 487 503 529 544

RPOWER 93 95 97 99 100

SAIL 94 96 98 100 101

SBIN 2,015 2,037 2,061 2,083 2,107

SESAGOA 181 191 198 207 214

SIEMENS 736 745 757 765 778

STER 111 112 114 115 116

SUNPHARMA 511 514 518 521 525

SUZLON 26 27 27 28 28

TATAMOTORS 218 224 229 236 241

TATAPOWER 102 104 106 108 110TATASTEEL 429 437 442 450 455

TCS 1,081 1,089 1,100 1,108 1,119

WIPRO 413 416 419 423 426

Technical Research Team

Daily Pivot Levels for N ifty 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 27th january 2012

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