Technical Research | November 29, 2011

Daily Technical Report

Sensex (16167) / NIFTY (4851)
Yesterday, Benchmark indices opened on an optimistic note in-line with strong positive cues from other Asian markets. On the sectoral front, Metal, Banking and Oil & Gas counters contributed heavily in yesterdays rally and markets closed well above the immediate resistance level of 15970 / 4780. There was no sector on losing side. The advance decline ratio was strongly in favour of advancing counters (A=1793 D=946). (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
On the Daily chart, the momentum oscillator viz. the RSI has given a positive crossover. The 20 Days EMA is placed at 16510 / 4960. Volumes in yesterdays session were significantly lower
Source: Falcon

Actionable points:
View Resistance levels Support level Neutral 4859 - 4930 4766

than average traded volumes (NSE Cash segment) in the past few sessions.

Trading strategy:
Indices opened significantly higher and crossed immediate resistance level of 15970 / 4780 during the initial hour of the trade. After crossing 15970 / 4780 level, indices moved towards the mentioned resistance level of 16213 / 4854 and closed marginally below this level. We are now witnessing a positive crossover in RSI momentum oscillator on the Daily chart. Therefore, going forward, if indices manage to sustain above yesterdays high of 16187 / 4859 and volumes in cash segment increase with increase in prices, then markets are likely to rally towards the next resistance level of 16400 / 4930 which is the 38.2% Fibonacci retracement level of the fall from 17908 to 15478 / 5400 to 4639. Moreover, the daily 20 EMA is placed around 16510 / 4960 level. Hence, 16400 16510 / 4930 4960 levels are likely to act as a strong resistance zone in coming trading sessions. On the downside, the support is seen at 15888 / 4766 level.

For Private Circulation Only |

Technical Research | November 29, 2011

Bank Nifty Outlook - (8793)

Bank nifty opened with an upside gap and gained strength as the day progressed to close near days high. As stated in our previous report, momentum oscillators on daily chart were in oversold territory and this pullback was in line with expectations. We are now witnessing a positive crossover in RSI momentum oscillator. Therefore if Bank Nifty sustains above yesterdays high of 8810 then it is likely to test 8880 8970 levels. On the downside, 8661 - 8599 levels may act as support levels for the day. Actionable points: View
Resistance levels Support Levels Neutral 8880 - 8970 8661 - 8599

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

For Private Circulation Only |

Technical Research | November 29, 2011

Positive Bias: Stock Name Patel Engg Sesa Goa 5 Day EMA 85.44 177.50 20 Day EMA 88.60 190.85 Expected Target 102 190 Remarks View will change below 83 View will change below 173.50

Negative Bias:

Stock Name Sun TV Hero Motor

5 Day EMA 265.65 2079.50

20 Day EMA 266.41 2108.60

Expected Target 251 1985

Remarks View will change above 285 View will change above 2083

For Private Circulation Only |

Technical Research | November 29, 2011

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 15,782 4,733 8,523 1,100 144 965 1,558 373 272 499 299 314 205 1,529 378 377 607 429 1,988 112 374 718 105 2,595 191 485 60 440 1,243 692 941 156 249 857 95 436 69 275 754 396 85 82 1,683 171 664 101 479 23 170 90 374 1,064 365 S1 15,975 4,792 8,658 1,146 147 978 1,588 380 277 517 302 320 207 1,540 383 384 627 435 2,011 118 378 734 109 2,616 193 496 62 454 1,261 703 953 158 255 889 96 443 71 280 769 402 87 84 1,731 176 685 103 496 23 176 92 380 1,076 369 PIVOT 16,081 4,826 8,734 1,173 149 988 1,627 385 280 529 305 322 210 1,553 389 390 638 440 2,047 122 381 744 112 2,633 196 505 63 464 1,279 713 970 159 259 912 97 448 72 284 777 407 88 85 1,760 179 701 104 507 23 180 94 385 1,086 373 R1 16,273 4,885 8,869 1,219 152 1,001 1,657 392 285 548 308 327 212 1,564 394 397 658 446 2,069 128 385 760 116 2,653 199 517 66 479 1,297 724 982 161 265 944 98 455 73 290 792 412 89 87 1,808 184 722 106 524 23 185 95 391 1,098 376 R2 16,379 4,918 8,945 1,245 154 1,010 1,697 397 289 560 311 330 214 1,576 400 403 669 451 2,105 132 388 770 118 2,670 202 526 67 489 1,314 734 999 163 269 968 99 460 74 294 801 417 90 88 1,836 187 738 107 535 24 189 97 396 1,108 380

Technical Research Team

For Private Circulation Only |

Technical Research | November 29, 2011 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 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.

Sebi Registration No: INB 010996539

For Private Circulation Only |