Daily Technical Report

May 04, 2012

Exhibit 1: Nifty Daily Chart

Sensex (17151) / NIFTY (5188)

Yesterday, our benchmark indices opened with a downside gap in line with other global indices and traded with negative bias throughout the day to close near days low. However it can be seen that the markets continue to trade in the range of 17530 to 16920 / 5345 to 5135 as mentioned in our weekly report. On sectoral front, Auto, Metal and Banking counters were among the major losers, whereas IT and Teck counters ended with marginal gains. The advance to decline ratio was strongly in favor of declining counters (A=1062 D=1708) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 17100 / 5135 and 17400 / 5250, respectively. The 20-Week EMA is placed at 17200 / 5200 level. We are now witnessing a Downward Sloping Trend Line resistance around 17350 / 5280 level. Actionable points:
View Neutral 5226 - 5280 5180 5135 Resistance Levels Support Levels Source: Falcon

Trading strategy: After a gap down opening below the mentioned support level of 5223, yesterday we witnessed a volatile trading session where selling pressure intensified in the later half and Nifty closed below 5200 mark. The positive crossover in 'RSI' oscillator on the Daily chart has been negated. However, we are witnessing that indices took support near the 78.6% Fibonacci retracement level of the rise from 17020 / 5154 to 17432 / 5280 which is at 17110 / 5180. Going forward, if indices trades convincingly below 17110 / 5180 then they may drift towards the next support level of 16920 / 5135. On the upside, 5226 5280 levels, may act as intermediate resistances in the coming trading sessions.

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Daily Technical Report

May 04, 2012

Bank Nifty Outlook - (10127)

Yesterday, Bank Nifty opened with a downside gap in line with our benchmark indices and selling pressure throughout the day lead the index to test 10100 level. The positive crossover in RSI momentum oscillator on the daily chart, mentioned in our previous reports has been negated. At this juncture, the index is approaching major support level of 10029. A close below the mentioned support will trigger fresh momentum on the downside and the index may drift towards 9934 9845 levels. On the upside 10208 10275 levels are likely to act as resistance in coming trading session. Actionable points:
View Resistance Levels Support Levels Neutral 10208 10275 10029 9934

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

Positive Bias:
Stock Name BHEL CMP 225.2 Positive Above 228.5 Expected Target 240 Remarks View will be negated below 218

Negative Bias:
Stock Name LICHSGFIN CMP 255.5 Negative Below 253 Expected Target 245 Remarks View will be negated above 260

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Daily Technical Report

May 04, 2012 Daily Pivot Levels for Nifty 50 Stocks
SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,030 5,159 10,005 1,171 144 3,412 1,029 1,493 706 311 220 639 338 312 326 183 1,722 320 2,437 507 661 540 1,978 117 418 834 112 2,443 238 481 71 570 1,182 694 1,256 153 261 826 107 487 730 504 93 2,044 184 741 103 586 296 98 438 1,249 399 S1 17,091 5,174 10,066 1,189 145 3,508 1,044 1,527 718 313 222 650 341 315 332 185 1,735 323 2,456 511 664 547 2,026 118 426 846 115 2,463 240 488 72 576 1,191 700 1,273 155 263 835 108 493 735 509 94 2,064 186 754 104 593 299 99 443 1,264 405 PIVOT 17,181 5,195 10,161 1,214 147 3,567 1,069 1,558 738 315 225 657 344 319 338 188 1,752 326 2,487 516 668 553 2,099 119 431 863 118 2,480 243 498 73 584 1,202 707 1,301 158 265 849 109 502 739 516 96 2,096 189 764 105 598 302 101 451 1,274 410 R1 17,242 5,210 10,222 1,232 149 3,663 1,084 1,592 751 317 228 669 347 322 343 191 1,765 328 2,507 520 671 560 2,147 120 439 874 120 2,500 245 504 74 590 1,211 713 1,319 159 267 858 109 508 744 521 97 2,116 191 776 106 605 304 103 457 1,290 416 R2 17,332 5,232 10,316 1,258 151 3,722 1,109 1,624 771 320 231 675 351 326 350 194 1,783 331 2,538 525 675 565 2,220 121 444 891 123 2,517 248 514 75 598 1,223 721 1,347 162 269 872 110 517 749 528 99 2,148 193 787 107 611 307 104 465 1,300 421

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Daily Technical Report

May 04, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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