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Technical Report 9th March 2012

- The markets opened lower but recovered in the later half of the day, closing in the green. Key support levels were found near the 200-day simple moving average. - A "Hammer" candlestick pattern formed near the 200-day SMA, which if confirmed by a close above 5244 could signal a test of resistance levels between 17362-17562/5284-5330. - Support for the indexes is seen at 17000/5164, while Bank Nifty may find support around 9900-9833 and could target resistance at 10294-10438 if it sustains above 10169.

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421 views

Technical Report 9th March 2012

- The markets opened lower but recovered in the later half of the day, closing in the green. Key support levels were found near the 200-day simple moving average. - A "Hammer" candlestick pattern formed near the 200-day SMA, which if confirmed by a close above 5244 could signal a test of resistance levels between 17362-17562/5284-5330. - Support for the indexes is seen at 17000/5164, while Bank Nifty may find support around 9900-9833 and could target resistance at 10294-10438 if it sustains above 10169.

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Angel Broking
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Technical Research | March 09, 2012

Daily Technical Report Sensex (17146) / NIFTY (5220)


One Wednesday, markets again opened lower but managed to show strength in the later half to finally close in green. As mentioned and expected, our benchmark indices found some support near 200-day SMA. On the sectoral front, the recovery was lead by Realty, IT and Banking counters whereas Oil & Gas and Metal sectors once again remained under pressure. The advance to decline ratio was in favor of declining counters. (A=1141 D=1690) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation:
The 200-day SMA and 20-day EMA have now shifted to 17180 / 5164 and 17682 / 5330, respectively. The 38.8 % and 50 % Fibonacci retracement of the rise from 15135 / 4530 to 18524 / 5630 levels are at 17230 / 5210 and 16830 / 5080 respectively. The Daily chart depicts a Japanese candlestick pattern which resembles a Hammer near 200-day SMA.
Source: Falcon

Trading strategy:
In our previous trading session, we witnessed that initially indices drifted lower to test mentioned support level of 17000 / 5167and later pulled back to close in the green. Now on the Daily chart, we are witnessing a Japanese candlestick pattern which resembles a Hammer near 200day SMA which needs confirmation. The global cues suggest that our Benchmark indices might open with positive bias. Going forward, a closing above 5244 level which is the high of Hammer would confirm the bullish implication of the pattern. In such scenario, indices are

Actionable points:
View Resistance Levels Support level Neutral 5244 5284 - 5330 5164 / 5080

likely to test 17362 17562 / 5284 5330 levels. On the downside, 17000 / 5164 may act as strong support in coming trading session.

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Technical Research | March 09, 2012

Bank Nifty Outlook - (10133)


On Wednesday, Bank Nifty opened on lower in line with our benchmark indices but contributed significantly to the bullish undertone in the later of the day. Strong buying emerged near the mentioned support zone of 9900 9838 which led the index to close near the highest point of the day. As mentioned in our earlier report, the RSI momentum oscillator is still below 50 and there is a negative crossover in 5 & 20 EMA. However, the oversold condition of stochastic momentum oscillator on daily chart indicates a possibility of a minor pullback. Thus, if the index sustains above Wednesdays high of 10169, then it is likely to test 10294 10438 levels. On the downside 9900 9833 levels are likely to act as support in coming trading session. Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Support Levels Bullish 10294 - 10438 9900 - 9833
Source: Falcon

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Technical Research | March 09, 2012

Positive Bias:
20 Day EMA 2835 Positive Above 2930 Expected Target 3040

Stock Name TTK Prestige

CMP 2889

5 Day EMA 2848

Remarks View will change below 2800

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Technical Research | March 09, 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 16,901 5,140 9,851 1,270 158 1,116 1,663 322 257 641 349 301 320 188 1,654 342 466 643 490 1,859 125 375 833 132 2,811 207 517 64 537 1,191 660 1,258 167 274 908 105 401 88 737 591 119 87 2,079 185 767 104 551 26 259 106 409 1,176 422 S1 17,023 5,180 9,992 1,287 159 1,140 1,698 326 264 650 353 305 323 194 1,673 345 481 648 503 1,874 128 380 846 135 2,848 208 527 69 545 1,214 667 1,283 168 276 920 107 409 90 749 610 126 89 2,110 189 778 106 555 27 264 107 417 1,184 431 PIVOT 17,131 5,212 10,081 1,299 160 1,155 1,726 331 271 658 359 308 327 198 1,690 349 489 654 510 1,887 131 383 857 138 2,871 210 535 72 551 1,233 675 1,306 171 280 930 109 415 91 763 623 130 92 2,137 194 788 110 559 27 267 109 423 1,195 438 R1 17,254 5,252 10,222 1,316 161 1,180 1,761 335 278 667 363 312 330 203 1,709 352 503 659 523 1,902 134 388 871 142 2,908 211 545 78 558 1,256 682 1,332 173 283 942 110 423 94 776 642 137 93 2,168 198 799 113 563 28 271 110 430 1,204 446 R2 17,362 5,284 10,310 1,327 162 1,194 1,789 341 285 675 369 315 334 207 1,725 356 511 665 531 1,915 137 391 882 145 2,931 213 553 81 564 1,275 690 1,355 176 286 952 112 429 95 790 656 141 96 2,195 203 809 117 567 28 274 112 437 1,215 453

Technical Research Team


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Technical Research | March 09, 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 [email protected] Research Team: 022-3952 6600 Website: www.angelbroking.com

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