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com

Index Open High Low Current Previous Close Change (Pts.) % Change
SENSEX 19,274.21 19,484.77 19,171.03 19,470.98 19,121.83 349.15 2.0%

Chart – I
BSE SENSEX (19,470.98)
The SENSEX opened on a buoyant note on the back of positive
cues from its global peers. The SENSEX spent the initial hours of
the day’s trade in a narrow range of 19260—19180 levels.
Thereafter, strong gains amongst Auto and IT stock like TCS and
HCL Tech propelled the index to an intraday high of 19485 levels.
The SENSEX finally closed the day’s trade at the 19471 levels
with a strong gain of 350 points.

The overall market breadth remained strong throughout the

day’s trade and the advance decline ratio closed in favour of the
advances in the ratio of 2:1

All the benchmark and sectoral indices closed the session on the
green territory. The Auto and IT indices were amongst the two
biggest gainers amongst the sectoral indices with gains of 2.50%.
The FMCG, Banking and Consumer durable indices also closed
the session with gains between 1.50%--2.0%.

We had pointed out in our previous trading note that the SENSEX
was holding on to its 200 DMA and taking support between the
19000—19100 zone over the past couple of trading sessions. (All Price Charts as on 20th Apr 2011)
Yesterday the SENSEX witnessed a strong up move from these
key support levels and closed with strong gains. But, the SENSEX ADVANCE / DECLINES BSE
has stiff resistance between the 19600—19800 levels and Advances 1962
upsides towards the 20000—20300 levels can be seen only if the Declines 951
SENSEX closes above these levels for a few sessions. Unchanged 93
The 19100—19000 zone will act as strong support zone for the
SENSEX on the downside. BSE TURNOVER (Rs. In Crores)
Cash 3770
We booked full profits on our BTST Call given on HPCL Ltd at Future --
`375.35 levels (initiated at `368 levels). The recommendation
Total 3770
fetched a smart gain of `3675/- per lot to the subscribers of our
product BTST/STBT calls section.
KEY SENSEX AVERAGES
We recommend subscribing to our product BTST/STBT calls section
Daily
to avail such profitable BTST/STBT calls.
Short Term Avg 18960
Near Term Avg 1 19340
Near Term Avg 2 19040
Today’s supports for the SENSEX are placed at the 19200 and 200 DMA 19010
19350 levels whereas resistances are placed at the 19600 and
19750 levels

SENSEX TOP GAINERS / LOSERS

Gainers Losers

Scrip CMP Prev. Close % Chg Scrip CMP Prev. Close % Chg

BF Utilities 893.45 800.60 11.6 Unitech 40.65 42.85 (5.1)

HCL Tech 522.85 475.60 9.9 Container Corp 1207.35 1263.20 (4.4)

Jubilant Food 680.55 624.60 8.9 DB Realty 102.25 106.75 (4.2)

Suzlon Energy 57.35 54.40 5.4 Power Finance 236.90 246.70 (3.9)
Manappuram
Gen 132.35 125.85 5.1 IRB Infra 200.95 208.35 (3.5)

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 21st Apr 2011 www.devangvisaria.com E-mail: research@devangvisaria.com

Index Open High Low Current Previous Close Change (Pts.) % Change
2.0%
NIFTY 5,786.05 5,857.35 5,759.65 5,851.65 5,740.75 110.90
Chart-II
NSE NIFTY (5,851.65)
The NIFTY opened on a buoyant note on the back of positive
cues from its global peers. The NIFTY spent the initial hours of
the day’s trade in a narrow range of 5800—5770 levels.
Thereafter, strong gains amongst Auto and IT stock like TCS and
HCL Tech propelled the NIFTY to an intraday high of 5858 levels.
The NIFTY finally closed the day’s trade at the 5852 levels with a
strong gain of 111 points.

We had pointed out in our previous trading note that the NIFTY
was holding on to its 200 DMA and taking support between the
5700—5750 zone over the past couple of trading sessions.
Yesterday the NIFTY witnessed a strong up move from these key
support levels and closed above the 5850 levels. But, the NIFTY
has stiff resistance between the 5900—5950 levels and upsides
towards the 6000—6070 levels can be seen only if the NIFTY
closes above these levels for a few sessions.

The 5700—5750 zone will act as strong support zone for the
NIFTY on the downside. (All Price Charts as on 20th Apr 2011)
ADVANCE / DECLINES NSE
We booked full profits on our short Call given on NIFTY 5700 CALL Advances 1048
April at `122 levels (initiated at `130 levels). The recommendation Declines 389
fetched a smart return of 6.50% to the subscribers of our product Unchanged 20
NIFTY calls section.
NSE TURNOVER (Rs. In Crores)
We recommend subscribing to our product NIFTY calls section to Cash 13008
avail such profitable NIFTY Trading strategies. Future 37261
Options 118269
We booked full profits on our BTST Call given on Bata India Ltd at Total 168538
`424 levels (initiated at `418.50 levels). The recommendation
fetched a gain of `5500/- per lot to the subscribers of our product KEY NIFTY AVERAGES
BTST/STBT calls section. Daily
Short Term 5678
We recommend subscribing to our product BTST/STBT calls Near Term Avg 1 5809
section to avail such profitable BTST/STBT calls. Near Term Avg 2 5748
200 DMA 5732

Today’s supports for the NIFTY are placed at the 5800 and 5825
levels whereas resistances are placed at the 5880 and 5900
levels.

NIFTY (5,851.65) SU—5800--5825 RE—5880—5900. A rally towards the 6000—6050 levels can be seen, if the NIFTY closes above the
5900 levels for a few sessions. The 5700—5750 zone will act as good support for the NIFTY.

NIFTY FUTURES TOP GAINERS / LOSERS

Gainers Losers

Scrip CMP Prev. Close % Chg Scrip CMP Prev. Close % Chg

HCL Tech 524.95 476.55 10.1 Unitech 40.50 42.85 (5.4)

Triveni 105.00 96.05 9.3 CONCOR 1197.75 1256.30 (4.6)

APIL 611.25 577.00 5.9 IRB Infra 200.35 208.05 (3.7)

On Mobile 280.25 265.00 5.7 PFC 236.90 245.65 (3.5)

Suzlon Energy 57.40 54.30 5.7 Wel Crop 203.50 208.15 (2.2)

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 21st Apr 2011 www.devangvisaria.com E-mail: research@devangvisaria.com

TRADING RECOMMENDATIONS

NTPC Ltd. CMP—`186.95

We recommend going long in this counter at current levels.
Technical Outlook:-
The important observation to be made on the daily charts of NTPC is that the price movement since 10th Jan, 2011 till date
is forming an inverted Head & Shoulders pattern. This acclaimed bullish reversal pattern will open up upside targets of
`193 levels in the stock over the upcoming few sessions of trade. The stock also has good support of its key near term and
short term moving average clusters. The momentum indicators on the Daily charts have also given a buy signal.
Suggested Trading Strategy:-
We recommend buying between `187.20---`185 levels for the above mentioned targets with a stop loss placed below
`183.40 levels.

Disclaimer:

This represents views based purely on Technical studies. The information and views presented in this report are prepared by Devang
Visaria. The information contained herein is based on my analysis of the Charts and up on sources that I consider reliable. I, however, do
not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss
incurred based upon it.

The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own
investment decisions based on their specific investment objectives and financial position and using such independent advice, as they
believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither
Devang Visaria nor any person connected with him accepts any liability arising from the use of this information and views mentioned in
this document.

Devang Visaria and his affiliates may hold long or short positions in the above-mentioned companies from time to time.

The report is intended for a restricted audience and I am not soliciting any action based on it. Neither the information nor any opinion
expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures nor other
derivatives related to such securities.

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