Daily Technical Report

May 09, 2012

Sensex (16546) / NIFTY (5000)

Yesterday markets opened on a flat note in-line with other Asian indices, after a sharp bounce back on Mondays session. However, intense selling pressure on the back of negative sentiment in European markets led to a close almost at the lowest point of the day. All sectors corrected sharply during yesterdays session. Stocks in the Capital Goods, IT and Banking space were among the major losers. The advance to decline ratio was strongly in favor of declining counters (A=1052 D=1688) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16949 / 5115 and 17220 / 5225, respectively. We are now witnessing a negative crossover in weekly 5 & 20 EMA.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Resistance Levels Neutral 5125 4988 - 4950 4900

Trading strategy: After seeing a sharp pull back towards 5100 mark on Mondays session, once again markets lost positive momentum and corrected to close around the 5000 mark. Going forward, Tuesdays high of 16945 / 5125 level would act as a strong resistance zone. This level also coincides with the 200 day SMA and thus as long as indices stay below 16945 / 5125, we are likely to trade with negative bias. On the downside, indices may slide towards 16430 / 4950 level if markets sustain below yesterdays low of 16502 / 4983. We advise traders to avoid creating fresh long or short positions.

Support Levels

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Daily Technical Report

May 09, 2012

Bank Nifty Outlook - (9589)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range during the first half of the session. However in the second half, in line with the sell-off in the broader market, the index fell and closed well below the 200 day SMA support level. As mentioned in our previous report that we witnessed immense volatility throughout the session. Going forward, Mondays low of 9480 might provide decent support to the index. A move and close below 9480 will further intensify the selling pressure and the index may drift lower to test 9364 9270 levels. On the upside 9780 9897 are likely to as resistance in coming trading session. Actionable points:
View Support Levels Resistance Levels Neutral 9480 - 9364 9780 9897 Source: Falcon

Exhibit 2: Bank Nifty Daily Chart

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Daily Technical Report

May 09, 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 16,240 4,898 9,282 1,190 140 3,581 937 1,450 626 310 205 662 303 318 322 183 1,676 315 2,411 458 645 499 1,812 111 426 809 107 2,298 213 456 58 527 1,169 658 1,280 153 254 749 104 477 689 458 92 1,850 175 692 95 574 286 95 411 1,171 389 S1 16,393 4,949 9,436 1,206 143 3,618 960 1,470 642 313 210 671 309 321 328 186 1,693 319 2,442 468 651 507 1,856 114 428 819 110 2,346 220 470 61 541 1,186 668 1,293 154 256 766 105 485 699 474 93 1,903 178 711 97 584 291 97 419 1,186 396 PIVOT 16,656 5,035 9,680 1,228 145 3,659 995 1,501 670 316 219 683 319 325 333 191 1,712 326 2,485 485 661 522 1,923 117 432 837 116 2,377 231 491 66 561 1,197 683 1,312 156 259 793 106 498 709 496 94 1,976 181 743 100 598 300 100 432 1,210 403 R1 16,809 5,085 9,833 1,244 148 3,696 1,018 1,521 687 319 224 693 325 329 340 195 1,728 330 2,516 495 667 530 1,967 120 435 847 119 2,425 238 505 69 576 1,214 692 1,325 158 262 811 107 506 719 511 94 2,029 184 762 102 608 306 102 440 1,225 410 R2 17,071 5,171 10,077 1,266 150 3,736 1,053 1,552 714 322 233 705 336 333 345 200 1,747 337 2,559 512 677 545 2,034 123 439 865 124 2,456 249 525 74 596 1,226 708 1,345 159 265 838 108 519 729 533 95 2,102 188 794 106 621 315 104 453 1,249 417

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Daily Technical Report

May 09, 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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