Technical Research | February 14, 2012

Daily Technical Report Sensex (17773) / NIFTY (5390)

Yesterday, for yet another session markets traded with extreme volatility throughout the day. Indices have been trading in this narrow range of 17579 17890 / 5322 5428 for the past six trading sessions. On the sectoral front, Metal, Auto and Consumer Durables counters were among the major gainers, whereas Capital Goods and Teck counters ended in a negative territory. The advance to decline ratio was marginally in favor of advancing counters. (A=1496 D=1381) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
On the Weekly chart, indices are hovering around the Horizontal Resistance Line placed at 17908 / 5400 level. The Weekly chart depicts a Doji formation. The 200-day SMA and 20-day EMA are placed at 17235 / 5178 and 17160 / 5185, respectively. The RSI-Smoothened oscillator on the daily chart is placed in extreme overbought territory.
Source: Falcon

Trading strategy:
After a quiet opening, once again for the sixth consecutive session, indices traded in a narrow range of 17579 17890 / 5322 5428. Therefore, we reiterate our view that a break out on either side would decide next move. On the downside, the negative outlook will be confirmed only if indices sustain below the low of 17579 / 5322. In this case, we may witness a corrective move up to 17200 17000 / 5250 5185 levels, which also coincides with the support zone of 200-Day SMA and 20-day EMA. Conversely, a break out above 17890 / 5428 may attract strong buying interest which would then push indices to test next resistance zone of 18440 18932 / 5552 5702.

Actionable points:
View Expected targets Support level Positive Above 5428 5552 5702 5322

Actionable points:
View Expected targets Resistance level Negative Below 5322 5250 5185 5428

For Private Circulation Only |

Technical Research | February 14, 2012

Bank Nifty Outlook - (10474)

In Yesterdays trading session, we witnessed high volatility in case of the Bank Nifty mainly on account of the results declared by countrys largest bank, State Bank of India. However, this volatility was within the mentioned range and no breakout or breakdown is visible on charts. We are again witnessing a Doji candle stick formation in yesterdays session. Also, the Bearish Harami candle stick pattern mentioned in our previous report is still intact. The index has failed to close above 10555 levels. Therefore, if the index manages to sustain below yesterdays low of 10335 then it is likely to drift towards 10183 10150 levels. On the upside, 10533 10555 levels are likely to act as resistance in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Target Resistance levels Negative Below 10335 10183 10150 10533 10555
Source: Falcon

Stock Recommendations:
Stock NATIONAL FERTILISERS (NSE CASH) Action Buy Last close Buying Range Stop Loss Target - ` 93.00 - ` 93 - 88 - ` 85.00 - ` 104.00

Exhibit 3: NATIONAL FERTISLISERS (NSE CASH)

Justification The stock has given a trend line breakout at ` 88.50 along with humongous volumes on Daily chart. Further, it is trading convincingly above 200-day SMA since past 15 20 trading sessions, which shows positivity in the stock. We are also observing a continue rise in the value of ADX (14) indicator, which is currently placed at 34.83. This indicates strength of the present uptrend. Thus, buy this stock on declines up to ` 88 for a target of ` 104 in coming 1-2 weeks.
Source: Falcon

For Private Circulation Only |

Technical Research | February 14, 2012

Negative Bias:
Expected Target 33

Stock Name Shree Renuka

CMP 37.1

5 Day EMA 38.6

20 Day EMA 36.8

Remarks View will change above 39.4

For Private Circulation Only |

Technical Research | February 14, 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 17,579 5,318 10,250 1,317 166 1,098 1,719 339 256 577 366 331 330 213 1,603 381 461 690 512 1,942 148 384 906 130 2,739 201 581 75 535 1,295 685 1,190 178 276 967 105 430 89 832 552 102 105 2,051 221 768 124 541 26 251 104 458 1,202 427 S1 17,676 5,354 10,362 1,336 168 1,107 1,733 344 259 583 369 336 333 222 1,615 385 465 693 517 1,978 152 388 921 132 2,764 202 593 76 551 1,312 695 1,207 179 278 981 107 435 91 841 577 104 107 2,090 233 787 127 547 27 254 106 472 1,214 432 PIVOT 17,763 5,388 10,447 1,355 170 1,118 1,749 348 261 593 374 345 337 227 1,627 389 470 696 521 1,999 154 391 933 134 2,782 203 604 77 560 1,333 702 1,233 181 282 995 109 441 93 850 591 106 111 2,135 243 799 130 553 29 258 109 480 1,226 440 R1 17,860 5,424 10,559 1,374 172 1,127 1,763 352 264 599 377 351 340 236 1,638 392 474 699 526 2,034 158 395 947 136 2,807 204 616 79 576 1,350 712 1,251 182 285 1,009 111 445 96 858 616 109 114 2,175 256 818 133 560 30 261 111 494 1,238 445 R2 17,947 5,457 10,645 1,393 174 1,137 1,779 356 266 608 383 359 344 241 1,650 397 479 702 530 2,055 161 397 960 137 2,825 206 627 80 586 1,371 719 1,276 184 289 1,024 113 452 97 867 630 111 118 2,220 266 830 136 566 31 265 113 503 1,250 453

Technical Research Team

For Private Circulation Only |

Technical Research |Technical14, 2012 February 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 |