Technical Research | November 04, 2011

Daily Technical Report

Sensex (17482) / NIFTY (5266)
Markets opened marginally lower and traded with negative bias during the first half. However, once again indices found strong support near 17300 / 5200 level and moved sharply higher to close almost at the highest point of the day. On the sector front, Realty, Power and Oil & Gas counters were among the major contributors in yesterdays bounce whereas Consumer Durables and IT sectors ended with a nominal loss. marginally The advance decline ratio was in favor of declining counters (A=1329

Exhibit 1: Nifty Daily Chart

D=1460). (Source www.bseindia.com)

Formation
The Daily 200 SMA is placed at the 18000 / 5400 level. The Daily chart depicts a candle which resembles a
Source: Falcon

Bullish Hammer. Also, indices have taken a support at 50% Fibonacci

Retracement level of the rise from 16669 to 17908 / 5011 to 5400 since last two sessions.

Trading strategy:
In Yesterdays trading session, we observed that indices took support near the mentioned level of 17273 / 5196 where strong buying emerged and markets closed near days high. The Daily chart exhibits a Bullish Hammer at 50% Fibonacci Retracement level of the rise from 16669 to 17908 / 5011 to 5400 which indicates possibility of an upside move till the next resistance level of 17821 17908 / 5366 5400. The said pattern will be negated on the violation of the low of 17278 / 5201.

Actionable points:
View Positive Above Expected Targets Support Levels Bullish 5282 5366 - 5400 5196 - 5160

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Technical Research | November 04, 2011

Bank Nifty Outlook - (9783)

Bank nifty has taken a support near the expected support level of 9607 and bounced back sharply during the last hour of trade to close almost at the highest point of the day. We are now observing a positive crossover of 20 & 50 SMA on Daily chart which is a sign of strength. Therefore, if Bank Nifty sustains above yesterdays high of 9815 then it is likely to test 9890 10080 levels. On the downside, 9647 9607 levels may act as support level for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points: View Positive Above Expected Target Support Levels

Bullish

9815 9890 10080 9647 9607

Source: Falcon

Stock Recommendations:
Stock Petronet LNG (Nov.Fut.) Action Buy Last close - ` 166.85 Buying Range - ` 166.30 - ` 165.80 Stop Loss - ` 164.45 Target - ` 171

Exhibit 3:Petronet LNG (Nov Fut) Hourly chart

Justification The stock has given a trend line breakout on the hourly chart around ` 165.50 with significant rise in volumes. Also, the placement of momentum oscillators and moving averages indicates possibility of a further upside move in coming trading sessions. Therefore, we advise traders to buy the stock in range of ` 166.30 - ` 165.80 for target of ` 171 in coming 2 - 3 trading sessions

Source: Falcon

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Technical Research | November 04, 2011

Positive Bias: Stock Name Jswsteel Bhel BGR Energy 5 Day EMA 645.7 322 329.2 20 Day EMA 619.5 323.6 327 Expected Target 704 345 350 Remarks View will change below 635 View will change below 314 View will change below 322

Negative Bias:

Stock Name Hind Uniliver

5 Day EMA 376.3

20 Day EMA 351.21

Expected Target 371

Remarks View will change above 392

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Technical Research | November 04, 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 17,180 5,170 9,583 1,158 153 1,088 1,690 379 311 619 293 286 227 1,609 416 427 669 467 2,012 132 376 857 125 2,729 207 546 75 487 1,349 819 1,114 173 268 965 102 508 80 357 853 443 95 104 1,890 203 828 117 493 36 182 100 448 1,078 363 S1 17,331 5,218 9,683 1,184 155 1,102 1,709 386 320 625 297 288 236 1,625 422 432 676 474 2,042 134 379 868 127 2,766 209 555 76 496 1,365 829 1,122 176 273 977 103 511 81 365 869 454 97 107 1,912 207 842 119 498 36 185 103 455 1,092 367 PIVOT 17,429 5,250 9,749 1,203 157 1,116 1,722 390 326 631 300 290 242 1,637 426 439 682 480 2,065 135 383 880 130 2,804 210 561 78 501 1,377 837 1,128 177 276 986 104 514 83 371 879 462 98 110 1,926 209 851 121 504 36 189 104 462 1,100 370 R1 17,580 5,298 9,849 1,229 159 1,130 1,741 398 335 636 303 293 251 1,653 431 445 689 487 2,095 137 387 890 132 2,840 211 570 79 510 1,392 848 1,136 180 281 997 105 518 85 379 896 473 100 112 1,949 214 865 123 510 37 192 107 469 1,114 374 R2 17,678 5,329 9,915 1,247 160 1,144 1,754 402 341 642 306 295 257 1,665 435 451 694 492 2,119 139 391 902 134 2,879 212 576 80 515 1,404 856 1,142 182 285 1,007 105 521 86 385 906 481 102 116 1,963 216 874 125 515 37 196 109 477 1,123 378

Technical Research Team

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Technical Research | November 04, 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

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