Technical Research | January 27, 2012

Daily Technical Report Sensex (17077) / NIFTY (5158)

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)

Exhibit 1: Nifty Daily Chart

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
Source: Falcon

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 200day SMA placed around 17356 / 5210 level if they manage to sustain above Wednesdays 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 Wednesdays low of 17016 / 5130 is violated, then indices are likely to drift towards 16846 / 5080 level.

Actionable points:
View Sell Only below Expected target Resistance levels Bearish 5130 5080 5050 5174 - 5210

For Private Circulation Only |

Technical Research | January 27, 2012

Bank Nifty Outlook - (9857)

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 Wednesdays 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, if Bank Nifty sustains below Wednesdays low of 9762 then it is likely to test 9680 9550 levels.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Target Support Levels View Expected Target Resistance Levels
Positive Above 9906

9967 - 10017 9760 9680 - 9550

Negative Below 9760

9680 - 9550 9906 9967 - 10017

Source: Falcon

For Private Circulation Only |

Technical Research | January 27, 2012

Positive Bias:
Expected Target 147.5 193

Stock Name Crompton Greaves GMDC

CMP 142.3 185

5 Day EMA 137.8 180.8

20 Day EMA 133.5 174.6

Remarks View will change below 137 View will change below 179

Negative Bias:
Expected Target 1770

Stock Name Hero Motor

CMP 1853.9

5 Day EMA 1873.2

20 Day EMA 1857.4

Remarks View will change above 1913

For Private Circulation Only |

Technical Research | January 27, 2012

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 16,961 5,110 9,699 1,151 157 998 1,548 349 276 544 329 338 216 1,616 361 410 699 482 1,801 138 384 856 125 2,605 204 525 69 476 1,287 676 1,118 173 267 972 99 460 92 331 777 461 93 94 2,015 181 736 111 511 26 218 102 429 1,081 413 S1 17,019 5,134 9,778 1,162 159 1,031 1,568 354 279 562 337 340 217 1,633 364 415 704 486 1,828 140 389 868 127 2,636 205 533 71 486 1,309 681 1,149 174 270 986 100 467 94 338 784 487 95 96 2,037 191 745 112 514 27 224 104 437 1,089 416 PIVOT 17,075 5,154 9,842 1,179 161 1,053 1,589 359 282 576 352 343 220 1,644 367 423 708 490 1,862 143 394 881 129 2,655 206 543 72 492 1,338 687 1,174 175 273 1,002 101 473 96 344 790 503 97 98 2,061 198 757 114 518 27 229 106 442 1,100 419 R1 17,133 5,178 9,921 1,191 163 1,086 1,609 364 285 594 360 345 222 1,661 370 428 713 494 1,888 145 399 894 131 2,686 207 551 74 502 1,360 692 1,205 176 276 1,016 102 480 98 351 796 529 99 100 2,083 207 765 115 521 28 236 108 450 1,108 423 R2 17,188 5,198 9,985 1,208 166 1,109 1,629 370 288 608 375 348 224 1,672 373 436 717 497 1,922 148 404 907 132 2,705 208 561 76 508 1,389 698 1,230 178 279 1,032 103 486 99 357 802 544 100 101 2,107 214 778 116 525 28 241 110 455 1,119 426

Technical Research Team

For Private Circulation Only |

Technical ResearchTechnical27, 2012 | January 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 |