Daily Technical Report

May 02, 2012

Sensex (17319) / NIFTY (5248)

On Monday, we witnessed a positive opening in-line with strong cues from other Asian bourses. Subsequently, indices surged higher as the day progressed and eventually closed almost at the highest point of the day. On sectoral front, IT, TECK and Oil & Gas counters were among the major gainers, whereas FMCG and Consumer Durables counters ended with marginal loss. The advance to decline ratio was in marginally favor of advancing counters (A=1174 D=1091) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 17100 / 5135 and 17400 / 5250, respectively. The 20-Week EMA is placed at 17200 / 5200 level. We are now witnessing a Downward Sloping Trend Line resistance around 17350 / 5250 level. The RSI momentum oscillator on the daily chart is signaling a positive crossover.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Trading strategy: On Monday, after a positive opening Indices have now moved towards the Downward Sloping Trend Line resistance of 17350 / 5250 level mentioned in our earlier reports. A sustainable move beyond Mondays high of 17360 / 5262 with significant higher volumes would lead to a break out from this resistance. Considering the global cues from the Asian and American markets, it is highly probable that this breakout would sustain and we may close above the 17360 / 5262 mark. As a result, indices may rally towards 17531 17664 / 5343 5441. The daily RSI momentum oscillator is signaling a positive crossover and further augments the positive outlook on the markets. On the downside 5223 5200 levels, may act as support in the coming trading sessions.

Actionable points:
View Expected Targets Support Levels Positive Above 5262 5343 5441 5222 5200

www.angelbroking.com

Daily Technical Report

May 02, 2012

Bank Nifty Outlook - (10277)

On Monday, Bank Nifty opened on a flat note in line with our benchmark indices and gained strength as the day progressed. The index tested the mentioned resistance level of 10345. We had also mentioned in our previous report that we are witnessing a positive crossover in RSI - Smoothened momentum oscillator on the hourly chart and possibility of a bounce back cannot be ruled out. In addition, we are now witnessing positive crossover in RSI momentum oscillator on the daily chart. The effect of positive crossover will be seen if the index sustains above Mondays high of 10360. In this case the index is likely to rally towards 10408 10515 levels. On the downside 10210 10150 levels are likely to act as support in coming trading session. Actionable points:
View Expected Targets Support Levels Positive Above 10360 10408 10515 10210 10150

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

Positive Bias:
Stock Name Hanung Toys CMP 139.5 Positive Above 144 Expected Target 158 Remarks View will be negated below 135

www.angelbroking.com

Daily Technical Report

May 02, 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 17,127 5,177 10,132 1,176 146 1,080 1,559 305 220 660 331 309 346 178 1,708 326 502 666 535 2,152 118 411 862 116 2,363 242 468 71 573 1,210 692 1,336 160 259 822 107 487 73 733 503 100 92 2,102 183 762 103 581 21 307 103 455 1,188 398 S1 17,223 5,212 10,204 1,207 148 1,094 1,592 308 222 666 338 310 349 182 1,735 328 507 670 539 2,196 119 414 872 118 2,412 244 486 73 578 1,219 701 1,354 161 265 836 109 495 74 739 515 103 93 2,120 186 769 105 592 22 312 104 459 1,217 402 PIVOT 17,291 5,237 10,282 1,226 150 1,112 1,611 310 225 672 342 313 352 186 1,763 332 511 676 544 2,223 121 418 881 120 2,440 247 498 74 584 1,228 711 1,376 163 268 849 110 503 75 744 525 106 95 2,145 188 777 106 600 23 315 105 464 1,234 405 R1 17,387 5,273 10,355 1,257 153 1,125 1,644 313 227 677 349 314 355 191 1,790 334 516 680 548 2,267 122 421 891 123 2,490 248 516 76 589 1,237 720 1,394 164 273 863 113 511 76 750 537 109 97 2,163 191 783 108 612 23 319 106 469 1,263 409 R2 17,455 5,298 10,433 1,276 155 1,143 1,664 316 230 684 353 316 358 194 1,818 337 519 685 553 2,294 123 425 899 125 2,518 251 527 77 596 1,246 731 1,417 166 276 876 114 520 78 754 546 112 99 2,188 193 791 109 620 24 322 107 473 1,280 412

www.angelbroking.com

Daily Technical Report

May 02, 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

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600

Sebi Registration No: INB 010996539

www.angelbroking.com