Technical Research | January 31, 2012

Daily Technical Report Sensex (16863) / NIFTY (5087)

The week has begun on a pessimistic note and markets remained under huge selling pressure throughout yesterdays session. Indices closed almost at the lowest point of the day. On the sectoral front, Capital Goods, Power and Realty counters corrected sharply and there was no sector in the positive territory. The advance to decline ratio was strongly in favor of declining counters. (A=996 D=1819) (Source -www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA is placed at 17332 / 5202 level. The Hanging Man formation mentioned in our

previous report is now confirmed. We are witnessing a negative crossover in RSI

Source: Falcon

momentum oscillator. The 20-day EMA is placed around 16493 / 4964.

Trading strategy:
Markets opened with significant downside gap and traded with a strong negative bias after breaking Fridays low of 17106 / 5162. A close below this level has now confirmed the bearish candlestick pattern called as Hanging Man. The negative impact of this pattern was seen throughout the day as indices corrected near the mentioned level of 16757 / 5055. Further, we are witnessing a negative crossover in daily RSI oscillator which indicates possibility of a further corrective down move if indices sustain below yesterdays low of 16828 / 5076. In this case, indices are likely to drift towards 16757 16447 / 5055 4955 levels. Conversely, 17015 17138 / 5135 5166 levels are likely to act as resistance in coming trading sessions.

Actionable points:
View Sell Only below Expected target Resistance level Bearish 5076 5055 - 4955 5135 - 5166

For Private Circulation Only |

Technical Research | January 31, 2012

Bank Nifty Outlook - (9537)

In yesterdays session, Bank Nifty opened on a pessimistic note and selling pressure was witnessed throughout the session. This led the index to test the mentioned support level of 9530. The negative crossover in momentum oscillator RSI and Stochastic is still intact. Going forward, selling pressure is likely to increase if the index sustains below yesterdays low of 9509. In such a scenario, the Bank nifty is likely to find support at 9390 9300 levels. On the upside 9664 - 9742 levels may act as resistance in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Target Resistance Levels
Negative Below 9509

9390 - 9300 9664 - 9742

Source: Falcon

For Private Circulation Only |

Technical Research | January 31, 2012

Negative Bias:
Expected Target 294

Stock Name Yes Bank

CMP 313.75

5 Day EMA 315.5

20 Day EMA 289.9

Remarks View will change above 321

For Private Circulation Only |

Technical Research | January 31, 2012

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 16,634 5,021 9,364 1,140 156 984 1,511 343 231 538 334 335 328 199 1,612 359 415 676 468 1,782 133 374 827 122 2,674 197 510 63 463 1,248 636 1,160 168 269 936 100 424 87 775 487 90 96 1,916 188 724 108 515 25 227 100 426 1,092 399 S1 16,748 5,054 9,450 1,155 158 1,004 1,530 350 237 551 339 338 332 202 1,634 364 422 682 474 1,803 135 378 840 124 2,693 199 521 65 471 1,277 650 1,177 170 272 946 101 437 90 785 501 93 98 1,951 196 733 110 524 25 231 101 434 1,102 405 PIVOT 16,943 5,110 9,596 1,180 161 1,037 1,546 362 248 565 345 343 337 207 1,648 371 426 691 478 1,821 140 384 860 127 2,709 201 531 67 483 1,325 675 1,201 172 278 962 102 446 94 802 521 99 102 2,005 207 744 115 534 27 235 104 445 1,110 413 R1 17,058 5,143 9,683 1,195 163 1,056 1,565 369 255 578 349 346 340 211 1,670 376 433 697 484 1,842 142 389 873 129 2,728 203 542 69 490 1,354 690 1,218 174 281 971 103 459 97 812 535 103 104 2,039 215 753 117 543 28 238 105 453 1,120 419 R2 17,253 5,200 9,828 1,220 166 1,089 1,581 381 266 593 355 351 345 216 1,684 384 437 706 488 1,860 147 395 894 132 2,744 205 551 72 502 1,402 714 1,242 177 286 987 104 467 101 829 555 108 107 2,093 227 765 122 553 30 242 108 465 1,129 427

Technical Research Team

For Private Circulation Only |

Technical ResearchTechnical31, 2012 | January 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 |