Technical Report 9th February 2012

8/3/2019 Technical Report 9th February 2012

http://slidepdf.com/reader/full/technical-report-9th-february-2012 1/5



Technical Research | February 09, 2012

For Private Circulation Only | 2

Yesterday, Bank Nifty opened on a flat note and traded with

extreme volatility throughout the day to close near the initial

opening level. We are witnessing a “Doji” candle stick

formation which is a sign of indecision in the minds of the

bulls and the bears. We are now of the opinion that the

index is in a broad range of 10180 - 10430 levels and only

a sustainable move outside the said range will dictate the

direction of the trend. However we reiterate our view, on the

Daily chart; we are witnessing a possibility of negative

divergence in “RSI” oscillator which is coupled with otheroverbought momentum oscillators. Thus the chances of a

breakdown are higher as compared to that of a breakout.

However traders are advised to wait for further confirmatory

signals before taking aggressive positions. On the upside

resistance of 10430 - 10517 remains intact.

Actionable points:

View Neutral

Resistance Levels

Support Levels

10430 - 10517

10180 - 9916

Bank N ifty Outlook - (10320)

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon





Positive Bias:

Stock Name CMP 5 Day EMA 20 Day EMAExpectedTarget

Remarks

Uflex 138 137.6 132.6 151 View will change below 127

IL&FS Eng. 84 79.3 72.1 93 View will change below 73

Venky’s India 473.4 451 430.8 520 View will change below 431





SCRIPS S2 S1 PIVOT R1 R2

SENSEX 17,469 17,588 17,699 17,818 17,928

NIFTY 5,292 5,330 5,363 5,402 5,435

BANKNIFTY 10,117 10,218 10,310 10,412 10,503

ACC 1,315 1,350 1,371 1,406 1,428

AMBUJACEM 172 174 177 180 182

AXISBANK 1,085 1,106 1,124 1,145 1,162

BAJAJ-AUTO 1,617 1,633 1,648 1,664 1,678

BHARTIARTL 340 347 358 366 377

BHEL 253 257 262 266 270

BPCL 559 569 574 584 589

CAIRN 362 367 372 378 382

CIPLA 344 348 352 356 360

COALINDIA 322 328 332 337 341

DLF 226 231 234 239 243

DRREDDY 1,575 1,598 1,616 1,639 1,657

GAIL 371 382 388 398 405

HCLTECH 457 462 465 470 473

HDFC 681 689 695 702 708

HDFCBANK 495 502 510 517 525

HEROMOTOCO 1,931 1,964 1,987 2,021 2,043

HINDALCO 149 155 159 165 169

HINDUNILVR 380 384 387 391 394

ICICIBANK 902 911 920 930 939

IDFC 135 137 138 140 142

INFY 2,724 2,746 2,764 2,787 2,805

ITC 199 202 205 207 210JINDALSTEL 562 572 586 595 609

JPASSOCIAT 73 75 76 79 80

KOTAKBANK 521 527 533 539 545

LT 1,336 1,352 1,366 1,382 1,396

M&M 660 673 686 699 711

MARUTI 1,229 1,248 1,264 1,283 1,299

NTPC 174 176 177 179 181

ONGC 275 279 283 287 290

PNB 962 971 984 994 1,006

POWERGRID 104 106 108 110 113

RANBAXY 444 449 455 460 465

RCOM 87 90 92 95 97RELIANCE 836 847 856 867 876

RELINFRA 536 564 580 607 624

RPOWER 98 100 101 103 104

SAIL 102 103 106 107 110

SBIN 2,128 2,153 2,170 2,195 2,213

SESAGOA 212 220 226 233 239

SIEMENS 763 774 781 792 799

STER 120 122 124 126 128

SUNPHARMA 530 540 548 558 565

SUZLON 29 29 30 30 31

TATAMOTORS 242 246 250 254 258

TATAPOWER104 106 107 110 111

TATASTEEL 432 441 452 461 471

TCS 1,203 1,211 1,219 1,227 1,235

WIPRO 423 429 434 439 444

Technical Research Team

Daily Pivot Levels for Nifty 50 Stocks





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 [email protected]

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

Documents

Technical Report 9th February 2012