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Technical Format With Stock 11.09

Technical Format With Stock 11.09

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Daily Technical Report

September 11, 2012

Sensex (17767) / NIFTY (5363)
The week opened on a very quiet note after a strong rally in Friday’s session. The consolidation process continued throughout the day and indices closed marginally in the positive territory. On sectoral front, Consumer Goods, Health Care and Metal counters were among the major gainers; whereas Realty and Banking remained under pressure. The advance to decline ratio was in favor of advancing counters (A=1521 D=1308) (Source –www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
 The ’20-day EMA’ and the ’20-week EMA’ are placed at 17508 / 5298 and 17254 / 5226 levels, respectively. Looking at the “Line Chart” it is clear that indices have now confirmed the ‘Higher Top - Higher Bottom’ formation on the weekly chart after August 28, 2009. The daily ‘RSI’ momentum oscillator and ‘3 & 8 EMA’ have given a positive crossover. The 50% Fibonacci Retracement level of the rise from 16598 to 17973 / 5032 to 5449 is at 17285 / 5240.

Source: Falcon:

Actionable points: Trading strategy:
Yesterday, we witnessed a lackluster session despite a strong closing on Friday. However it is historically observed that prices have a tendency to move sideways or correct marginally after witnessing a strong intraday rally. Since, there is no major change in the chart structure, we continue to mention that positional traders with a 5 to 8 day perspective can create fresh long positions on every decline up to 5275 (Nifty Spot) for a target of 5449 – 5550 (Nifty Spot). The stop loss for this trade set up can be placed below 5190 (Nifty Spot) mark. A breach of 5190 level would trigger complete loss of current optimism in the market.
View Expected Target Levels Support Levels Bullish 5375 – 5400 - 5449 5343 – 5309 - 5275

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Daily Technical Report
September 11, 2012

Bank Nifty Outlook - (10070)
Yesterday, Bank Nifty opened on a flat note and traded lower as the day progressed to close with a loss of 0.76%. At this juncture the index is facing resistance near it “20 Day EMA”. Going forward we expect the index to take support near the gap area formed during Friday’s session (10036 9947) and eventually move to higher levels. The momentum oscillators on the daily chart continue to be positive. For the coming trading session the index is likely to trade in the range of 9947 – 10187 while the overall view for the next 6 to 8 days remains optimistic.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10126 - 10160 10036 – 9947 Source: Falcon:

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Daily Technical Report
September 11, 2012

Daily Pivot Levels for Nifty 50 Stocks
SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,686 5,336 9,957 1,319 186 3,688 929 1,661 626 251 193 338 334 379 356 198 1,687 357 2,927 565 724 585 1,783 105 528 915 125 2,458 261 324 65 563 1,349 752 1,185 170 275 676 120 548 781 448 78 1,826 167 657 97 657 240 94 371 1,356 371 S1 17,726 5,350 10,013 1,328 188 3,713 941 1,685 630 256 195 340 337 383 361 200 1,702 362 2,952 570 733 588 1,802 107 532 925 126 2,485 263 334 66 567 1,364 759 1,196 171 277 681 121 554 786 453 79 1,843 168 666 98 670 244 95 376 1,364 374 PIVOT 17,769 5,363 10,098 1,339 190 3,747 962 1,700 633 259 200 343 339 389 366 203 1,726 365 2,966 573 739 593 1,815 108 537 935 127 2,506 264 342 67 574 1,376 767 1,208 172 278 688 122 559 795 458 79 1,874 170 675 99 678 247 96 379 1,374 378 R1 17,809 5,376 10,154 1,348 192 3,772 975 1,724 636 264 202 345 342 393 371 205 1,741 370 2,991 577 747 596 1,834 110 541 945 129 2,533 266 353 68 578 1,391 774 1,219 173 280 693 123 565 801 462 80 1,892 172 683 100 691 252 96 384 1,382 381 R2 17,851 5,389 10,238 1,359 194 3,805 996 1,739 639 267 207 347 344 399 375 207 1,765 373 3,005 581 753 600 1,848 111 546 956 130 2,554 267 361 69 585 1,403 782 1,231 174 281 700 124 571 809 467 81 1,923 173 692 101 699 254 97 388 1,392 385

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Daily Technical Report
September 11, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the 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. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions 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. 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, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours 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. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its 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. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this 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

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