Technical Research | April 16, 2012

Daily Technical Report Sensex (17095) / NIFTY (5207)

On Friday, our Benchmark indices opened flat and traded with positive bias during the initial hour of the session to test the mentioned resistance zone of 5300. However, during the latter half, we witnessed a fall of more than 2% from days high and Nifty closed marginally above 5200 mark. On sectoral front, IT, and Teck counters contributed heavily in the fall whereas Health Care and FMCG sectors ended with marginal gains. The advance to decline ratio was in favor of declining counters (A=1236 D=1567) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA (Simple Moving Average) and 20Source: Falcon

day EMA (Exponential Moving Average) have now shifted to 17100 / 5150 and 17400 / 5300, respectively. The 20-Week EMA is placed at 17200 / 5200 level. We are witnessing a Downward Sloping Trend Line

Actionable points:
View Resistance levels Support Levels Neutral 5255-5307 5170 - 5135

resistance around 17400 / 5300 level.

Trading strategy:
On account of significant selling pressure in Fridays session, markets tumbled down from the days high and closed almost at the lowest point of the week. Indices are now approaching a strong support zone comprising of the 20-week EMA and 200-day SMA. This support zone is at 17200 17100 / 5200 5150 levels. Therefore, going forward, ONLY if indices sustain below recent swing low of 16920 / 5135, we may witness intense selling pressure and markets are likely to drift towards the next support levels of 16828 16600 / 5076 5000. Conversely, 17400 / 5300 level is now a crucial resistance for the indices. Only a sustainable move, with strong volumes, above the weekly high 17408 / 5307 will indicate resumption of a strong uptrend. Indices then may rally towards 17664 18041 / 5379 5500 levels. Considering, Fridays sharp correction during the second half, we advise traders to stay light on positions and trade with strict stop losses.

For Private Circulation Only |

Technical Research | April 16, 2012

Bank Nifty Outlook - (10306)

On Fridays session, Bank Nifty opened with an upside gap and traded in a narrow range during first half of the session. However during the second half strong selling pressure pushed the index to test the mentioned support level of 10250. As expected we witnessed high volatility during Fridays session. The ADX (14) indicator is currently placed at 11.38 which suggest that the current trend is sideways. Moreover, the positioning of the momentum oscillators on the daily chart reflects lack of confidence amongst trading participants. Going into the policy week we may witness volatility in Bank Nifty. On the upside 10588 10625 levels are likely to act as resistance and 10130 10000 levels are likely to act as support in coming trading sessions. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10588 10625 10130 - 10000

Source: Falcon

For Private Circulation Only |

Technical Research | April 16, 2012

Negative Bias:
Negative Below 88.9 28 Expected Target 79 24

Stock Name ROLTA GMR INFRA

CMP 91.2 28.7

5 Day EMA 93 29.2

20 Day EMA 94 29.7

Remarks View will change above 93 View will change above 30.2

For Private Circulation Only |

Technical Research | April 16, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA 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 RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,802 5,112 10,024 1,221 157 1,118 1,597 316 250 662 337 310 330 191 1,687 347 466 672 516 2,000 121 420 822 127 2,305 229 474 71 561 1,243 677 1,291 164 254 875 109 484 80 726 521 111 92 2,142 181 769 104 563 23 283 100 438 1,035 399 S1 16,948 5,160 10,165 1,240 160 1,140 1,618 320 254 670 339 312 335 195 1,711 352 473 676 523 2,028 123 423 843 130 2,354 232 486 74 571 1,263 684 1,307 165 257 889 111 492 82 739 534 113 93 2,177 184 780 105 574 24 286 101 444 1,052 409 PIVOT 17,173 5,233 10,377 1,272 163 1,178 1,653 324 258 681 342 314 340 200 1,725 359 481 681 530 2,063 126 425 872 134 2,438 237 503 78 578 1,295 698 1,328 167 261 910 112 506 86 750 554 116 94 2,230 188 798 108 583 24 290 104 453 1,078 423 R1 17,319 5,281 10,518 1,291 166 1,201 1,674 328 262 689 344 316 344 203 1,749 363 488 685 537 2,092 128 428 894 137 2,487 240 515 81 588 1,314 705 1,344 169 265 924 113 514 88 763 566 118 95 2,266 190 810 109 594 25 294 105 459 1,095 434 R2 17,544 5,355 10,729 1,324 170 1,239 1,708 333 266 701 347 318 349 208 1,763 371 496 690 544 2,127 132 431 922 142 2,572 245 532 85 594 1,346 718 1,366 170 268 945 115 528 92 775 586 122 97 2,319 194 828 111 603 25 298 107 469 1,122 448

Technical Research Team

For Private Circulation Only |

Technical Research | April 16, 2012 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 |