Technical Research | December 05, 2011

Daily Technical Report

Sensex (16847) / NIFTY (5050)
Markets opened on a flat note on Fridays session and surged higher after crossing resistance level of 5012. This positive momentum remained throughout the session and the markets closed near the highest point of the day. On the sectoral front, Banking, Metal counters were among the major gainers. There was no sector in the negative territory. The advance decline ratio was strongly in favour of advancing counters (A=1757 D=1030). www.bseindia.com) (Source

Exhibit 1: Nifty Daily Chart

Formation
The positive crossover in Daily ADX (9) indicator is still intact. The Weekly 20 EMA is placed at 17000 / 5110 level. On the Daily chart, we are witnessing a Downward

Sloping Trend Line resistance around 17400 / 5250 level.

Source: Falcon

Trading strategy:
During the week we witnessed a sharp rally after crossing a resistance level of 15970 / 4780. Unexpected but coordinated policy changes by central bankers across the world caught the bears napping and resulted in a strong short covering rally. The ADX (9) indicator on the daily chart is still positively poised. As a result, this positive momentum is likely to continue during the initial part of the coming week and indices may rally towards 16980 / 5110, which is near to the 20-week EMA". This level also coincides with the 61.8% Fibonacci retracement level of the fall from 17908 to 15478 / 5400 to 4639. If indices manage to sustain above the 16980 / 5110 level, then they are likely to rally towards the Downward Trend Line resistance of 17400 / 5250.

Actionable points:
View Resistance levels Support level Neutral 5065 - 5110 4916

On the downside, 16430 / 4916 is likely to act as a support level. A violation of this support level may attract some selling pressure, which may drag indices lower to test 16210 15849 / 4866 4754 levels. Markets are nearing the strong resistance zone; therefore, we advise short - term traders to book partial profits and follow strict stop losses for their remaining long positions.

For Private Circulation Only |

Technical Research | December 05, 2011

Bank Nifty Outlook - (9173)

Bank nifty opened marginally higher and traded with positive bias throughout the day to close well above the 20 Day EMA. On the Daily chart, we observed a positive crossover in ADX (9) indicator during the session. As a result, strong buying emerged after crossing Thursdays high of 9034 and Bank Nifty rallied towards the mentioned resistance zone of 9077 to 9275. Going forward, this positive momentum is likely to continue if the index manages to sustain above Fridays high of 9201. In such a scenario, index may test 9275 level which is the 61.8% Fibonacci retracement level of the fall from 9914 to 8240. On the downside, the support is seen at 9034 8821 levels.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance level Support levels Neutral 9275 - 9500 9034 - 8821

Source: Falcon

Stock Recommendations:
Stock Reliance Capital (NSE Cash) Action Buy Last close ` 302

Exhibit 3: Reliance Capital (NSE Cash)

Buying Range ` 300 294 Stop Loss Target ` 286 ` 324

Justification On the weekly chart, we are witnessing positive divergence in the momentum oscillator viz. RSI. Further, on the Daily chart, it has given a positive crossover in 3 & 8 EMA along with significant rise in volumes. We advise buying this stock in a range of ` 300 to ` 294 for a target of ` 324 in coming 1 - 2 weeks.

Source: Falcon

For Private Circulation Only |

Technical Research | December 05, 2011

Positive Bias: Stock Name Jubilant foods Reliance Capital IFCI 5 Day EMA 794 292 23.7 20 Day EMA 786 309 25.5 Expected Target 860 324 31 Remarks View will change below 790 View will change below 286 View will change below 22.8

For Private Circulation Only |

Technical Research | December 05, 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 16,261 4,866 8,737 1,152 146 948 1,663 364 267 501 306 326 212 1,511 391 392 649 448 2,029 126 389 745 106 2,618 201 503 63 467 1,265 710 950 162 258 878 98 426 73 286 776 397 86 83 1,765 181 685 101 511 23 178 88 387 1,109 369 S1 16,554 4,958 8,955 1,183 153 977 1,689 377 275 529 312 328 218 1,544 395 405 659 457 2,055 131 392 767 111 2,656 204 518 65 481 1,288 730 971 167 263 897 101 434 75 294 794 405 88 85 1,826 186 704 105 522 23 185 93 403 1,143 381 PIVOT 16,721 5,010 9,078 1,201 158 995 1,704 386 279 548 315 331 221 1,564 397 412 664 462 2,082 134 395 779 114 2,686 205 529 66 490 1,301 741 984 171 266 909 102 440 77 299 805 410 89 87 1,863 189 717 108 530 24 189 97 413 1,164 390 R1 17,014 5,102 9,296 1,232 165 1,023 1,730 399 287 576 321 333 227 1,597 401 424 673 472 2,108 138 398 800 119 2,724 208 544 69 504 1,324 761 1,005 176 271 928 105 448 79 307 823 418 92 88 1,923 194 736 112 541 24 196 102 429 1,199 402 R2 17,182 5,155 9,419 1,250 169 1,041 1,746 407 292 595 324 335 231 1,618 404 432 678 477 2,135 142 401 813 122 2,753 210 555 70 512 1,337 772 1,018 180 275 940 107 454 80 311 833 423 93 90 1,960 198 749 115 549 25 200 105 439 1,220 411

Technical Research Team

For Private Circulation Only |

Technical Research | December 05, 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

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 |