Technical Research | December 30, 2011

Daily Technical Report

Sensex (15544) / NIFTY (4646)
Markets opened on a pessimistic note in-line with global cues, traded with extreme volatility during the first half and drifted lower during the last hour of the trade to close well in the negative territory. On the sectoral front, Oil & Gas, Capital Goods and Realty sectors were among the major losers, whereas Metal and Health Care counters ended with a nominal gain. The advance to decline ratio was strongly in favor of declining counters. (A=1154 D=1525). (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20 EMA on the daily chart is placed at 16020 / 4800 level. Markets have closed near 61.8% Fibonacci Retracement

level of the rise from 15135 to 16049 / 4531 to 4801 levels.

Source: Falcon

Trading strategy:
Yesterday, markets opened lower and traded with immense volatility mainly due to the expiry of derivative contracts for the month of December. A sharp down move towards the end of the session dragged indices lower to test mentioned support level of 15472 / 4632. This level nearly coincides with the 61.8% Fibonacci Retracement level of the rise from 15135 to 16049 / 4531 to 4801 levels. Considering the optimism in Global markets, it is likely that our markets too may open on a positive note. On the upside, yesterdays high of 15725 / 4702 is likely to act as a resistance in coming trading session. A sustainable move above this mark may push indices higher to test 15887 - 16020 / 4756 - 4800 levels. However, if indices manage to sustain below the above mentioned Fibonacci retracement support level then they are likely to fall further towards 15333 15135 / 4590 4531 levels.

Actionable points:
View Resistance levels Support levels Neutral 4702 4756 4632 4590 4531

For Private Circulation Only |

Technical Research | December 30, 2011

Bank Nifty Outlook - (8027)

Yesterday, we witnessed a volatile trading session in Bank Nifty where the index tested both, the mentioned support (8028) as well as resistance (8150) levels in the initial hour of trade. However, selling pressure intensified during the final hour of trade and Bank Nifty made a fresh low of 7986. On the upside, Bank Nifty is now likely to face resistance near 8090 8150 levels. Once above these resistance levels, it may shoot up higher to the 8220 mark. On the flip side, the negative crossover in Stochastic and RSI momentum oscillator on the daily chart is still intact. Thus a fall below yesterdays low of 7986 would increase momentum on the downside and the index may fall further towards 7936. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Level Support Level
Neutral 8090 8150 8220 7986 7936

Source: Falcon

For Private Circulation Only |

Technical Research | December 30, 2011

Positive Bias:

Stock Name Polaris Jsw Steel

CMP 121 524.8

5 Day EMA 118.5 517

20 Day EMA 121.6 539

Expected Target 127 550

Remarks View will change below 117.5 View will change below 503

Negative Bias:

Stock Name Cipla India Cem

CMP 321.5 67

5 Day EMA 324 68.7

20 Day EMA 324.8 70.1

Expected Target 310 62

Remarks View will change above 332 View will change above 71

For Private Circulation Only |

Technical Research | December 30, 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 15,385 4,600 7,900 1,134 153 791 1,585 328 223 459 293 317 180 1,550 366 373 649 417 1,879 113 403 664 92 2,706 198 425 52 434 973 667 888 157 252 739 99 391 65 231 688 331 70 77 1,572 155 619 87 488 17 176 85 336 1,149 392 S1 15,465 4,623 7,964 1,143 155 803 1,594 335 230 469 299 319 183 1,560 374 380 653 423 1,892 115 409 675 94 2,724 199 444 53 440 986 677 905 159 255 760 99 398 66 234 700 337 71 79 1,600 157 629 89 492 17 177 87 339 1,157 395 PIVOT 15,595 4,662 8,051 1,154 158 820 1,603 343 239 485 307 322 189 1,571 385 390 658 433 1,906 117 413 688 95 2,749 201 455 54 448 1,007 687 932 160 259 774 100 403 69 240 719 349 72 80 1,619 160 642 90 497 18 180 90 344 1,168 398 R1 15,674 4,686 8,114 1,163 161 833 1,612 349 245 495 312 324 192 1,581 393 397 662 439 1,918 119 418 699 96 2,768 203 474 54 454 1,020 696 949 162 262 795 101 410 71 244 732 356 73 82 1,647 163 652 92 501 19 182 91 347 1,176 401 R2 15,804 4,725 8,201 1,174 164 850 1,621 357 254 511 320 327 197 1,593 404 407 668 449 1,932 121 422 712 98 2,793 205 485 55 461 1,041 706 976 163 266 809 101 415 73 249 751 367 74 83 1,666 165 666 94 505 20 184 94 352 1,186 404

Technical Research Team

For Private Circulation Only |

Technical Research | December 30, 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 |