Technical Research | March 15, 2012

Daily Technical Report Sensex (17919) / NIFTY (5464)

Yesterday, for the fourth consecutive session, we witnessed a gap up opening due to positive sentiments across global markets. However, after the gap up opening, markets witnessed some profit booking in the later half and closed marginally above 5450 mark. On the sectoral front, Banking, Capital Goods and PSU counters were among the major gainers, whereas Realty and IT sectors remained under pressure. The advance to decline ratio was marginally in favor of declining counters. (A=1401 D=1505) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The positive crossover in 5 & 20-day EMA and RSI Smoothened oscillator is still intact.
Source: Falcon

Trading strategy:
In todays trading session, it is likely that our markets open lower in line with global clues. The US DOLLAR INDEX has strengthened and the charts indicate probability of a further upside move in this index. With regards to our markets, the volatility is expected to rise on account of the RBI monetary policy. Thus, going forward, positive momentum is likely to resume ONLY if markets sustain above yesterdays high of 18041 / 5500. In this case, indices are likely to rally towards 18250 18524 / 5538 5610 levels. On the downside, the immediate support is seen around 17837 17692 / 5437 5382 levels.

Actionable points:
View Resistance Levels Support Levels Neutral 5500 - 5538 5610 5437 5382

For Private Circulation Only |

Technical Research | March 15, 2012

Bank Nifty Outlook - (10890)

Yesterday, Bank Nifty opened with an upside gap and gained momentum as the day progressed to close near the highest point of the day. The positive crossover in RSI Smoothened oscillator on the daily chart mentioned in our previous report is still intact. Conversely on the hourly chart the RSI Smoothened oscillator is placed in an extreme overbought condition, hence possibility of a minor pullback in the index cannot be ruled out. In such a scenario the index is likely to find support at 10768 10671- 10543 levels. On the upside if the index sustains above yesterdays high of 10912 then it is likely to rally towards 11013 11227 levels. Note: In view of RBI monetary policy we expect Bank Nifty to be volatile. Hence traders are advised to trade with strict stop losses and stay light on their positions. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10912 11013 - 11227 10768 10671 - 10543

Source: Falcon

For Private Circulation Only |

Technical Research | March 15, 2012

Positive Bias:
20 Day EMA 236.3 816 Positive Above 249.6 837 Expected Target 255 888

Stock Name Union Bank Financial Technologies

CMP 246.6 828.2

5 Day EMA 239.2 810.1

Remarks View will change below 238 View will change below 775

Negative Bias:
Stock Name Tata Steel CMP 460.8 5 Day EMA 457.2 20 Day EMA 457.3 Negative Below 458.6 Expected Target 438 Remarks View will change above 476

For Private Circulation Only |

Technical Research | March 15, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA 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 RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,729 5,405 10,713 1,327 164 1,247 1,722 332 288 659 369 307 342 199 1,647 365 492 660 518 1,928 141 377 939 147 2,822 209 588 78 561 1,370 649 1,346 173 283 961 111 418 96 794 646 132 98 2,312 204 800 117 572 29 283 108 448 1,110 416 S1 17,824 5,435 10,802 1,341 165 1,260 1,743 335 291 670 372 308 345 202 1,663 370 498 669 523 1,950 143 379 947 149 2,850 211 596 79 567 1,383 659 1,359 175 289 994 112 422 97 804 652 134 99 2,333 207 805 119 578 29 287 109 454 1,132 421 PIVOT 17,932 5,467 10,857 1,353 169 1,272 1,776 340 294 680 376 311 347 207 1,691 373 509 679 527 1,973 144 383 952 152 2,883 212 609 82 571 1,396 670 1,379 177 292 1,014 113 426 100 817 660 137 101 2,354 211 812 121 586 30 289 110 465 1,173 426 R1 18,028 5,496 10,945 1,367 171 1,286 1,798 344 297 691 379 312 351 211 1,707 378 515 688 532 1,995 145 385 959 154 2,911 214 618 84 577 1,409 681 1,392 179 297 1,047 113 430 101 827 666 139 102 2,375 214 817 123 592 31 293 111 472 1,195 432 R2 18,136 5,529 11,000 1,380 174 1,297 1,831 349 301 701 384 315 353 216 1,735 382 526 698 535 2,017 146 388 965 157 2,944 215 631 87 581 1,421 692 1,413 180 300 1,068 114 434 103 840 674 141 104 2,396 218 824 125 600 31 295 112 482 1,236 437

Technical Research Team

For Private Circulation Only |

Technical Research | March 15, 2012 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 |