8/2/2019 Technical Report 16th April 2012

http://slidepdf.com/reader/full/technical-report-16th-april-2012 1/5

 

For Private Circulation Only |   1

Technical Research | April 16, 2012

 

On Friday, our Benchmark indices opened flat and traded

with positive bias during the initial hour of the session to test

the mentioned resistance zone of 5300. However, during

the latter half, we witnessed a fall of more than 2% from

day’s high and Nifty closed marginally above 5200 mark.

On sectoral front, IT, and Teck counters contributed heavily

in the fall whereas Health Care and FMCG sectors ended

with marginal gains. The advance to decline ratio was in

favor of declining counters (A= 1236 D= 1567) (Source – 

www.bseindia.com)

Formation:

• The 200-day SMA (Simple Moving Average) and 20-

day EMA (Exponential Moving Average) have now shifted to

17100 / 5150 and 17400 / 5300, respectively.

• The ‘20-Week EMA’ is placed at 17200 / 5200 level.

• We are witnessing a ‘Downward Sloping Trend Line’

resistance around 17400 / 5300 level.

Trading strategy:

On account of significant selling pressure in Friday’s

session, markets tumbled down from the day’s high and

closed almost at the lowest point of the week. Indices are

now approaching a strong support zone comprising of the

‘20-week EMA’ and ‘200-day SMA’. This support zone is at

17200 – 17100 / 5200 – 5150 levels. Therefore, going

forward, ONLY if indices sustain below recent swing low of

16920 / 5135, we may witness intense selling pressure and

markets are likely to drift towards the next support levels of

16828 – 16600 / 5076 – 5000. Conversely, 17400 / 5300

level is now a crucial resistance for the indices. Only a

sustainable move, with strong volumes, above the weekly

high 17408 / 5307 will indicate resumption of a strong

uptrend. Indices then may rally towards 17664 – 18041 / 

5379 – 5500 levels.

Daily Technical Report

Sensex (17095) / NIFTY (5207) 

Exhibit 1: N ifty Daily Chart

Source: Falcon 

Actionable points:

View NeutralResistance levels 5255-5307Support Levels 5170 - 5135

Considering, Friday’s sharp correction during the second

half, we advise traders to stay light on positions and trade

with strict stop losses.

8/2/2019 Technical Report 16th April 2012

http://slidepdf.com/reader/full/technical-report-16th-april-2012 2/5

 

Technical Research | April 16, 2012 

For Private Circulation Only |   2

 

On Friday’s session, Bank Nifty opened with an upside

gap and traded in a narrow range during first half of the

session. However during the second half strong selling

pressure pushed the index to test the mentioned support

level of 10250. As expected we witnessed high volatility

during Friday’s session. The ADX (14) indicator is

currently placed at 11.38 which suggest that the current

trend is sideways. Moreover, the positioning of the

momentum oscillators on the daily chart reflects lack of

confidence amongst trading participants. Going into thepolicy week we may witness volatility in Bank Nifty. On

the upside 10588 – 10625 levels are likely to act as

resistance and 10130 – 10000 levels are likely to act as

support in coming trading sessions.

Actionable points:

View NeutralResistance Levels 10588 – 10625Support Levels 10130 - 10000

Bank N ifty Outlook - (10306) 

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon 

8/2/2019 Technical Report 16th April 2012

http://slidepdf.com/reader/full/technical-report-16th-april-2012 3/5

 

Technical Research | April 16, 2012 

For Private Circulation Only |   3

 Negative Bias:

Stock Name CMP 5 Day EMA 20 Day EMA NegativeBelow

ExpectedTarget

Remarks

ROLTA 91.2 93 94 88.9 79 View will change above 93

GMR INFRA 28.7 29.2 29.7 28 24View will change above

30.2

8/2/2019 Technical Report 16th April 2012

http://slidepdf.com/reader/full/technical-report-16th-april-2012 4/5

 

Technical Research | April 16, 2012 

For Private Circulation Only |   4

 

SCRIPS S2 S1 PIVOT R1 R2

SENSEX 16,802 16,948 17,173 17,319 17,544

NIFTY 5,112 5,160 5,233 5,281 5,355

BANKNIFTY 10,024 10,165 10,377 10,518 10,729

ACC 1,221 1,240 1,272 1,291 1,324

AMBUJACEM 157 160 163 166 170

AXISBANK 1,118 1,140 1,178 1,201 1,239

BAJAJ-AUTO 1,597 1,618 1,653 1,674 1,708

BHARTIARTL 316 320 324 328 333

BHEL 250 254 258 262 266

BPCL 662 670 681 689 701

CAIRN 337 339 342 344 347

CIPLA 310 312 314 316 318

COALINDIA 330 335 340 344 349

DLF 191 195 200 203 208

DRREDDY 1,687 1,711 1,725 1,749 1,763

GAIL 347 352 359 363 371

HCLTECH 466 473 481 488 496

HDFC 672 676 681 685 690

HDFCBANK 516 523 530 537 544

HEROMOTOCO 2,000 2,028 2,063 2,092 2,127

HINDALCO 121 123 126 128 132

HINDUNILVR 420 423 425 428 431

ICICIBANK 822 843 872 894 922

IDFC 127 130 134 137 142

INFY 2,305 2,354 2,438 2,487 2,572

ITC 229 232 237 240 245JINDALSTEL 474 486 503 515 532

JPASSOCIAT 71 74 78 81 85

KOTAKBANK 561 571 578 588 594

LT 1,243 1,263 1,295 1,314 1,346

M&M 677 684 698 705 718

MARUTI 1,291 1,307 1,328 1,344 1,366

NTPC 164 165 167 169 170

ONGC 254 257 261 265 268

PNB 875 889 910 924 945

POWERGRID 109 111 112 113 115

RANBAXY 484 492 506 514 528

RCOM 80 82 86 88 92RELIANCE 726 739 750 763 775

RELINFRA 521 534 554 566 586

RPOWER 111 113 116 118 122

SAIL 92 93 94 95 97

SBIN 2,142 2,177 2,230 2,266 2,319

SESAGOA 181 184 188 190 194

SIEMENS 769 780 798 810 828

STER 104 105 108 109 111

SUNPHARMA 563 574 583 594 603

SUZLON 23 24 24 25 25

TATAMOTORS 283 286 290 294 298

TATAPOWER 100 101 104 105 107

TATASTEEL 438 444 453 459 469

TCS 1,035 1,052 1,078 1,095 1,122

WIPRO 399 409 423 434 448

Technical Research Team  

Daily Pivot Levels for Nif ty 50 Stocks 

8/2/2019 Technical Report 16th April 2012

http://slidepdf.com/reader/full/technical-report-16th-april-2012 5/5

 

Technical Research | April 16, 2012 

For Private Circulation Only |   5

 

Technical Report

RESEARCH TEAM

Shardul Kulkarni Head - Technicals

Sameet Chavan Technical Analyst

Sacchitanand Uttekar Technical Analyst

Mehul Kothari Technical Analyst

Ankur Lakhotia 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