A C Choksi Share Brokers 2013 Technical Outlook Predicts Continued Bull Rally

SHARE BROKERS PRIVATE LIMITED
A C CHOKSI
Technical View for 2013

January 01, 2013
Nurturing Wealth
May the New Year bring Peace, Prosperity, Health & Wealth for you. Wish you very Happy & Prosperous New Year 2013 from A C Choksi Share Brokers Private Limited
Jay Purohit :- Technical Analyst Tel: 022 6159 5193 Email id : jay@acchoksi.com
A C Choksi Research technicals@acchoksi.com
A C CHOKSI

January 01, 2013
Nurturing Wealth Bull Rally to Continue..!!!
Weekly Chart Year 2012 was the bullish year for all the indices globally were main indices gained by 7% to 29%. India outperformed the worlds most indices. Nifty has appreciated by about 27% in year 2012 in the hope of awaited policy reforms, which were finally announced by the government in the second half of 2012 . The recent measures to boost economy by government should continue in 2013 also, as suggested by the aggressive mood of government. If we look at the weekly chart of the Nifty, it clearly indicates that the trend is up. The Index has been in an uptrend in a rising channel pattern since December 2011 forming a series of higher highs and lows after Oscillator RSI given positive divergence in weekly chart, which is a positive sign. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 5650 level, whereas, lower line of rising channel is placed near 5400. The RSI indicator has given a positive crossover in quarterly chart and currently advancing indicating bullish momentum in the index. MACD is in urge of positive crossover in quarterly chart, which indicates the bullish bias in the index and possibility to make a new high. Broadly we are expecting the Nifty to remain in a range of 5400 on the down side and 6350 on the higher side. And sustenance above 6350 level will open the door for 6800 level. We have positive bias on the Nifty. Thus, our advice is to hold the long positions and add more on dips and book some profit near 6300 level. Investors should be confident to buy near 5400-5500 level without any hesitation in frontline stocks. . technicals@acchoksi.com A C Choksi Research
A C CHOKSI

January 01, 2013
Nurturing Wealth Bank Nifty
Weekly Chart BankNifty index showing relatively out performance compared to other NSE/BSE leading indices in 2012. It gained by 57% in 2012 as against 27% appreciation in Nifty. If we look at the weekly chart of the BankNifty, it clearly indicates that the trend is up. The Index has made Inverse Head & Double Shoulder pattern and forming a series of higher highs and lows after Oscillator RSI given positive divergence in weekly chart in December 2011, which is a positive sign. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 11480 level. It also has support of rising trendline at 11000 level. The MACD has given positive crossover with its average in quarterly chart. RSI indicator is also advancing and making higher highs, which indicates the bullish bias in the index and possibility to make a new high. Broadly we are expecting the BankNifty to remain in a range of 10200 on the down side and 13450 on the higher side. And sustenance above 13450 level will open the door for 16000 level. PREFERRED STOCK IN BANKING SECTOR :- State Bank of India, Punjab National Bank, ICICI Bank, Allahabad Bank, Bank of India, Bank of Baroda, IDBI Bank, Federal Bank, Andhra Bank, Karur Vysya Bank, Corporation Bank & Indian Overseas Bank. A C Choksi Research technicals@acchoksi.com
A C CHOKSI

January 01, 2013
Nurturing Wealth CNX Infra
Weekly Chart CNX Infra index gained by 21% in 2012 as against 27% appreciation in Nifty. We saw good momentum in first quarter of 2012. But after taking the resistance of falling trendline, Index started moving in the sideways direction. We saw the breakout of falling trendline resistance in September 2012 in weekly chart of the CNX Infra Index and after that it managed to move above that level, it clearly indicates that the trend is up. The Index is forming a series of higher lows in weekly chart since December 2011. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 2500 level. It also has support of trendline at 2430 level. The MACD and RSI indicator are advancing and moving above their respective averages in monthly chart, which indicates the bullish bias in the index. Broadly we are expecting the CNX Infra to remain in a range of 2400 on the down side and 2830 on the higher side. And big movement is expected only above 2850 level. PREFERRED STOCK IN INFRA & REALTY SPACE :- Bharti Airtel, Idea, Crompton Greaves, Punj Llyod, JSW Energy, Tata Power, Reliance Infrastructure, DLF, Unitech and Suzlon (Black Horse)
A C Choksi Research
technicals@acchoksi.com
A C CHOKSI

January 01, 2013
Nurturing Wealth CNX IT
Weekly Chart CNX IT index under performed the major Indian indices in the year 2012. It gave negative returns (2%) in 2012 as against 27% appreciation in Nifty. We saw sideways movement of the index in the year 2012. The index took the support of long term rising trendline twice in the second half of the year. And it also took the resistance of falling trendline in weekly chart. The weekly price chart shows that prices in moving near the 20 week simple moving average which is placed at 6152 level. The MACD and RSI indicator are moving in sideways direction and moving below their respective averages in monthly chart, which is a negative signal for the index. We are expecting the big movement in CNX IT in either side above 6500 or below 5700. In between this range we are neutral view on the Index PREFERRED STOCK IN IT SECTOR :- Financial Technologies, OFSS, TCS and Tech Mahindra
A C Choksi Research
A C CHOKSI

January 01, 2013
Nurturing Wealth CNX Midcap
Weekly Chart CNX Midcap index outperformed the the Nifty in the year 2012. It gained by around 39% in 2012 as against 27% appreciation in Nifty. If we look at the weekly chart of the CNX Midcap, it clearly indicates that the trend is up. The Index has broke the triangle pattern in upside and forming a series of higher highs and lows in weekly chart since January 2012, which is a positive sign. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 7870 level. It also has support of trendline at 7800 level. The MACD has given positive crossover with its average in monthly chart. RSI indicator is also advancing and making higher highs, which indicates the bullishness in the Index. Broadly we are expecting the CNX Midcap to remain in a range of 7800 on the down side and 9900 on the higher side, with a positive bias. PREFERRED MIDCAP STOCK :- Aditya Birla Nuvo, Aventis Pharma, Biocon, Century Textile, Gillette India, Godrej Industries, IFCI Ltd, Jubiliant Life Science, LIC Housing Finance, Pantaloon Retail, Shriram Transport Finanace, Sun TV, Tata Chemicals, Tata Global Beverages and Thermax. A C Choksi Research technicals@acchoksi.com
A C CHOKSI

January 01, 2013
Nurturing Wealth CNX Metal
Weekly Chart CNX Metal relatively under performed the Nifty in the year 2012. It gained by around 17% in 2012 as against 27% appreciation in Nifty. If we look at the weekly chart of the CNX Metal, it clearly indicates trend reversal. The Index has broke the falling trendline resistance in upside and sustained above that level. It is forming a series of higher lows in weekly chart since January 2012, which is a positive sign. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 2725 level. The MACD has given positive crossover with its average and moved to positive zone in weekly chart. RSI indicator broke the trendline resistance and moving above its average in weekly chart, which indicates the bullishness in the Index. Broadly we are expecting the CNX Metal to move towards north. We are expecting 3450/3600 level in the index. It has support of 2700/2500 on the down side. PREFERRED MIDCAP STOCK :- Hindalco Ind.,SAIL, Sterlite Ind., Tata Steel and NALCO (Black Horse)
A C Choksi Research
A C CHOKSI

January 01, 2013
Nurturing Wealth CNX Auto
Weekly Chart CNX Auto index showing relatively out performance compared to other NSE/BSE leading indices in 2012. It gained by 41% in 2012 as against 27% appreciation in Nifty. If we look at the weekly chart of the CNX Auto, it clearly indicates that the trend is up. The Index has broke the wedge pattern in upside and sustained above that level. It is forming a series of higher highs and lows in weekly chart since December 2011, which is a positive sign. The weekly price chart shows that prices are witnessing strong support of the 20 week simple moving average place near 4370 level. The MACD has given positive crossover with its average and moved to positive zone in quarterly chart. RSI indicator is taking support of rising trendline and making higher highs and lows in weekly chart, which indicates the bullishness in the Index. There are some clouds in the north at 4830 level, which is 100% extension level of previous up rally. We are expecting the CNX Auto to continue its ride towards north one it closed above 4850 level. Sustenance above 4850 level will take the Index to 5280 level. And sustenance below 4550 will drag the Index back to 4300/4100 level. PREFERRED STOCK IN AUTO SPACE :- Apollo Tyres, Bosch, Escorts India, Maruti Suzuki India, Ashok Leyland and Tata Motors. A C Choksi Research technicals@acchoksi.com
A C CHOKSI

January 01, 2013
Nurturing Wealth Reliance Capital Limited
Weekly Chart
Technical Call Key Statistics Momentum Bollinger Band Moving Average CMP 478 52 Week High 492.5 RSI (14 days) 64.74 Upper Band 497.1 20 DMA 463.38 Target 555/580 52 Week Low 225.5 MACD 26.64 Lower Band 429.6 200 DMA 373.53
Stock is moving in down trend since January 2008, It fell from 2920 to 227 level. But after touching 227 level in
January 2012, it made higher lows. It broke the previous high in weekly chart, which is reversal signal as per Dow theory. We saw Ascending Triangle Pattern breakout in the stock in weekly chart with healthy volumes, which is bullish chart pattern.
On the oscillator front, RSI is moving well above its average in weekly chart, which indicates price reversal on cards. MACD is also moving in upward direction in positive zone, which supports the buy call on the stock. Looking at all these indicators and patterns, I expect the reversal on cards for medium to long term. Thus, I advice
all our clients to accumulate the stock at current level and dips to 450 level for the target price of 555/580 with the stoploss of 440 on closing basis.
A C CHOKSI

January 01, 2013
Nurturing Wealth JSW Energy
Weekly Chart
The stock was moving in downtrend from September 2010 on the weekly chart. But Script is forming a series of higher
highs and lows after making bullish pattern at the low since December 2011.
We saw the breakout of series of falling trendline resistance in the last quarter of 2012 in weekly chart and after that it
managed to move above that level, it clearly indicates the trend reversal.
On the oscillator front, RSI indicator are advancing and moving well above its average. It is taking support of rising trendline in weekly chart.
The MACD has given positive crossover with its average in quarterly chart. And moving well in positive zone in weekly,
Monthly & quarterly chart.

Looking at all these indicators and patterns, I expect the reversal on cards in long term. Thus, I advice all our clients to
Buy the stock at current level and dips to 61 level for the target price of 87/100 with the stoploss of 58 on closing basis.
A C Choksi Research
A C CHOKSI

January 01, 2013
Nurturing Wealth Bank Of India
Weekly Chart
Technical Call Key Statistics Momentum Bollinger Band Moving Average CMP 343 52 Week High 408 RSI (14 days) 76.55 Upper Band 353.59 20 DMA 314.50 Target 408/440 52 Week Low 253.8 MACD 25.87 Lower Band 275.41 200 DMA 314.45
After testing an all time high of 589, the stock has been trading in downtrend since October 2010. However, the stock
has made Harami Candlestick Pattern in weekly chart and Moved up. . It gave an upside breakout from Wedge Pattern and sustained above that level in weekly chart, which is indicating bullish signal.
On the oscillator front, RSI broke resistance of falling trendline in upward direction and moving well above its average in weekly chart, which indicates reversal on cards.
We also saw crossover of MACD with its average, which indicates that the stock is likely to continue its uptrend move
in the long term.

Looking at all these indicators and patterns, I expect the reversal on cards for long term. Thus, I advice all our clients
to accumulate the stock at current level and dips to 325 level for the target price of 408/440 with the stoploss of 320 on closing basis.
A C CHOKSI

January 01, 2013
Nurturing Wealth Punjab National Bank
Weekly Chart
Technical Call Key Statistics Momentum Bollinger Band Moving Average CMP 868 52 Week High 1091 RSI (14 days) 71.53 Upper Band 871.13 20 DMA 831.16 Target 1080/1205 52 Week Low 659 MACD 32.38 Lower Band 791.19 200 DMA 797.27
After testing the all time high of 1399.90, the stock has been trading in downtrend since November 2010. However,
the stock moved up after RSI gave positive divergence in weekly chart. . It gave the breakout from Inverted Head & Shoulder Pattern and sustained above that level in weekly chart. Later it broke the falling trendline resistance. It also moved above previous high, which is bullish signal as per Dow Theory.
We also saw crossover of MACD with its average and moving in positive zone, which supports the buy call on the
stock.
A C CHOKSI

January 01, 2013
Nurturing Wealth Adiyta Birla Nuvo
Weekly Chart
After the fall from Rs. 2500 to 335, the stock made Inverted Hammer Pattern at the bottom in Weekly chart and
moved up. The share price went into a consolidation mode after moving up. The stock spent the last three years six months consolidating between the broad range of Rs 700 to Rs 1040 levels. On November 2012, it broke the range and closed first time above Rs 1040 after September 2008.
We saw Rectangle Pattern breakout in the stock inweekly chart, which is bullish chart pattern.
.
On the oscillator front, RSI is moving well above its average in weekly chart and first time it moved above 70 level after
June 2009, which indicates price to move towards north.

MACD is also moving in upward direction in positive zone and broke its trendline resistance, which supports the buy
call on the stock.

A C CHOKSI

January 01, 2013
Nurturing Wealth Pantaloon Reail
Weekly Chart
Technical Call Key Statistics Momentum Bollinger Band Moving Average CMP 257.3 52 Week High 260.25 RSI (14 days) 70.5 Upper Band 252.19 20 DMA 238 Target 310/345 52 Week Low 125.3 MACD 19.27 Lower Band 223.81 200 DMA 177.87
After the fall from 525 to 126, the stock made Doji Pattern at the bottom in the weekly chart and moved up. The
share price went into a consolidation mode after moving up. The stock spent the last one year consolidating between the broad range of Rs 125 to Rs 227 levels. Last week it broke the range and closed above that range.
We saw Range breakout in the stock in weekly chart with heavy volumes, which is bullish signal for the stock. After the
sharp move we saw correction in the stock. Yesterday it took support of the trendline and moved up.
Volumes increased sharply during the whole base formation which suggests accumulation in the stock by strong
hands.
On the oscillator front, RSI is moving well above its average and making higher lows in weekly chart, which indicates
price to move towards north. MACD is also moving in upward direction in positive zone, which supports the buy call on the stock.
We recommend to buy this stock at 234.75 level, we are advising to add more at current level for the revised target
price of Rs 310/345 with stoploss of Rs 220 on closing basis

A C CHOKSI

January 01, 2013
Nurturing Wealth Hindalco Industries
Weekly Chart
Technical Call Key Statistics Momentum Bollinger Band Moving Average CMP 130.5 52 Week High 164.9 RSI (14 days) 65.62 Upper Band 134.56 20 DMA 124.46 Target 164/182 52 Week Low 100.15 MACD 6.68 Lower Band 114.35 200 DMA 118.71
After testing the all time high of 252.85, the stock has been trading in downtrend since January 2011. However, the
stock moved up after RSI gave positive divergence in weekly chart. . It made the Hammer & Morning Star Candlestick Pattern in bottom and moved up. It gave the breakout from Inverted Head & Shoulder Pattern and sustained above that level in weekly chart. Later it broke the Wedge Pattern, which is bullish signal for the stock.
The MACD has given positive crossover with its average in monthly chart. RSI indicator is also advancing moving above its
average, which indicates the price reversal on cards .

to buy the stock at current level and dips to 120 level for the target price of 164/182 with the stoploss of 115 on closing basis.
A C Choksi Research
A C CHOKSI

January 01, 2013
Nurturing Wealth Steel Authority of India Limited
Weekly Chart
Stock has been trading in downtrend since April 2010. However, the bear run stopped after it made Inside Candlein
December 2011 in weekly chart. And after that it is forming a series of higher lows. . It made the Hammer & Morning Star Candlestick Pattern in bottom and moved up. It gave the breakout from Inverted Head & Shoulder Pattern in daily chart. Later we saw breakout of Symmetrical Triangle Pattern in weekly chart, which is bullish signal for the stock.
We also saw crossover of MACD with its average and moving in positive zone, which supports the buy call on the
stock.
to buy the stock at current level and dips to 83 level for the target price of 123/143 with the stoploss of 76 on closing basis.
A C CHOKSI

January 01, 2013
Nurturing Wealth NCC Limited
Weekly Chart
After the price fell from Rs 198 to Rs 28.10, the stock made Bullish Engulfing Pattern at the bottom in the weekly
chart and moved up. We also saw positive divergence of RSI in weekly chart at bottom. Stock spent the last 8 months consolidating between the broad range of Rs 28 to Rs 67. We saw good volumes during consolidation stage.
We saw triangle breakout in weekly chart with healthy volumes, which is bullish signal for the stock.
On the oscillator front, RSI is moving well above its average and in urge to break the trendline resistance in weekly chart.
We also saw positive crossover of MACD with its average in positive zone in weekly chart. Looking at all these indicators and patterns, I expect the price reversal in the stock for the target of Rs. 123/191 in
long run, which is the 61.80% and 100% projection level of previous bull run. We gave the Buy call on the stock at Rs 51.65, we advice to add more at current level with the stoploss of Rs 40 on closing basis.
A C CHOKSI

January 01, 2013
Nurturing Wealth
Disclaimer This report is for personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. This research report does not constitute an offer, invitation or inducement to invest in securities or other investments and A C Choksi Share Brokers Private Limited and its Associate or Group Company is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for your information and should not be reproduced or redistributed to any other person in any form. The information and views presented in this report are prepared by A C Choksi Share Brokers Private Limited. The information contained herein is based on study of available charts, statistical data and their interpretation of the same, our analysis and upon sources that we consider reliable. Accordingly the views and opinions expressed in the report may or may not match or may be contrary at the times with views, estimates, ratings, target price etc. The information given in this document is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither A C Choksi Share Brokers Private Limited nor any person connected with any associated companies of A C Choksi Share Brokers Private Limited accepts any liability arising from the utilization of information and views mentioned in the report. The research analyst(s) who prepared this research report hereby certifies that the views expressed in this research report accurately reflects the research analyst's personal views about all of the subject issuers and/or securities, that the analyst have no known conflict of interest and no part of the research analyst's compensation was, is or will be, directly or indirectly, related to the specific views or recommendations contained in this research report. The Research Analyst certifies that he /she or his / her family members does not own the stock(s) covered in this research report. Caution: Risk of loss in trading can be substantial. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances.
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A C Choksi Share Brokers 2013 Technical Outlook Predicts Continued Bull Rally

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SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Bull Rally to Continue..!!!

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Bank Nifty

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth CNX Infra

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth CNX IT

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth CNX Midcap

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth CNX Metal

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth CNX Auto

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Reliance Capital Limited

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Technical View for 2013

Nurturing Wealth JSW Energy

Monthly & quarterly chart.

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Bank Of India

in the long term.

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Punjab National Bank

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Adiyta Birla Nuvo

June 2009, which indicates price to move towards north.

call on the stock.

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Pantaloon Reail

price of Rs 310/345 with stoploss of Rs 220 on closing basis

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Hindalco Industries

average, which indicates the price reversal on cards .

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth Steel Authority of India Limited

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

Nurturing Wealth NCC Limited

SHARE BROKERS PRIVATE LIMITED

Technical View for 2013

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