Technical Research | February 22, 2012

Daily Technical Report Sensex (18428) / NIFTY (5607)

Yesterday, markets opened on a flat note in-line with other Asian indices but continued to move in the direction of current trend to register a close well above the 5600 mark. On the sectoral front, Realty, Consumer Durables and Oil & Gas counters were among the major gainers, whereas IT sector ended with a nominal loss. The advance to decline ratio was marginally in favor of advancing counters. (A=1677 D=1299) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
On the Weekly chart, indices have closed well above the Horizontal Resistance Line placed at 17908 / 5400 level. The 200-day SMA and 20-day EMA have now shifted to 17210 / 5172 and 17522 / 5306, respectively. The RSI-Smoothened oscillator on the daily chart is still placed in extreme overbought territory.
Source: Falcon

Trading strategy:
After a quiet opening, indices showed some positive momentum and moved higher towards the immediate resistance level of 18423 / 5607. Eventually the markets registered a high of 18471 / 5622 for the day. Going forward, if indices manage to sustain above yesterdays high of 18471 / 5622, then they are likely to test 18756 18945 / 5645 5702 levels. On the downside, 18293 18234 / 5561 5545 levels may provide decent support for the markets. Only a breach of 18234 / 5545 level may attract some selling pressure, which may drag indices to test 18043 17627 / 5483 5341 levels.

Actionable points:
View Buy above Expected targets Support levels Positive 5622 5645 5702 5561 5545 5483

For Private Circulation Only |

Technical Research | February 22, 2012

Bank Nifty Outlook - (11170)

Yesterday, Bank Nifty opened on a flat note and traded in the mentioned range of 11013 11204. The candle stick pattern Spinning Top formed during Fridays session still holds as the index failed to close above the high (11204) of the mentioned pattern. On the hourly chart we are witnessing a possibility of negative divergence on RSI momentum oscillator. A consolidation or minor correction is likely only if the Bank Nifty falls below Fridays low of 11013. In such a scenario the index is likely to test 10940 10775 levels. On the upside if the index sustains above yesterdays high of 11207 then it is likely to rally towards 11325 - 11450 levels. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Buy above Expected Target Support Levels Positive 11207 11325 - 11450 11013 10938 - 10775

Source: Falcon

For Private Circulation Only |

Technical Research | February 22, 2012

Positive Bias:
Expected Target 367.5

Stock Name Bharti Airtel

CMP 358.9

5 Day EMA 353.1

20 Day EMA 355.3

Remarks View will change below 356.30

For Private Circulation Only |

Technical Research | February 22, 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 18,221 5,537 10,976 1,342 168 1,248 1,771 341 303 594 382 318 316 247 1,617 374 483 705 516 2,106 150 376 966 142 2,888 204 629 82 561 1,414 726 1,272 182 278 1,051 109 441 102 802 602 122 109 2,387 236 814 121 534 29 266 110 470 1,192 436 S1 18,325 5,572 11,073 1,356 170 1,268 1,790 350 310 604 387 320 321 253 1,633 377 488 710 524 2,127 153 379 979 146 2,913 206 637 84 569 1,430 744 1,291 184 285 1,061 110 445 105 823 621 125 110 2,420 241 821 125 538 30 269 113 481 1,215 440 PIVOT 18,398 5,597 11,140 1,368 173 1,288 1,809 355 315 614 392 323 325 257 1,647 380 492 716 529 2,142 155 384 989 149 2,936 207 646 85 577 1,455 757 1,314 187 290 1,076 111 450 106 836 632 128 112 2,447 248 830 130 544 30 272 117 491 1,227 445 R1 18,502 5,632 11,237 1,383 175 1,308 1,828 364 323 624 396 325 330 262 1,663 384 497 720 537 2,162 158 387 1,001 154 2,962 209 654 86 584 1,471 775 1,333 189 297 1,087 112 454 109 857 651 131 114 2,480 253 836 134 549 31 275 120 502 1,250 449 R2 18,575 5,657 11,304 1,395 178 1,328 1,847 370 328 634 401 328 334 266 1,676 386 500 726 542 2,177 160 391 1,012 157 2,985 210 663 88 593 1,495 788 1,356 192 301 1,101 113 458 111 869 662 134 116 2,507 260 846 139 554 32 279 124 512 1,263 455

Technical Research Team

For Private Circulation Only |

Technical Research |Technical22, 2012 February 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 |