Technical Research | January 06, 2012
Daily Technical Report
Sensex (15857) / NIFTY (4750)
Exhibit 1: Nifty Daily Chart
Yesterday, markets opened flat and similar to Wednesday’s
session traded with extreme volatility throughout the day. As
a result, indices closed near the 4750 mark. On the sectoral
front, Oil & Gas, Realty and Metal sectors were among the
major losers, whereas Auto and Capital Goods counters
ended on a gaining side. The advance to decline ratio was
in favor of gaining counters. (A=1443 D=1236). (Source -
www.bseindia.com)
Formation
• The 20 day EMA has now shifted to 15839 / 4743
level.
• On the Daily chart, the positive crossover in RSI,
Stochastic, “3 & 8” EMA and ADX (9) is still intact.
• The Daily chart depicts a candlestick pattern which
Source: Falcon
resembles a “Long Legged Doji”.
Actionable points:
Trading strategy:
View
Positive Above 4820
Expected Targets
4881 - 4920
Yet another trading session ended with high volatility and
Support levels
4725 - 4675
indices failed to cross 16070 / 4820 level. Therefore, this
level remains to be a stiff and important resistance level for
View
Negative Below 4728
Expected Targets
4708 - 4685
the markets. The positive crossover in mentioned technical
Resistance levels
4783 - 4820
tools may come into action if indices break and sustain
above 16070 / 4820. In this case, strong buying is likely to
emerge and indices then may head towards the next
resistance levels of
16286
-
16421/
4881
-
4920.
Conversely, we are now observing a “Long Legged Doji”
candlestick pattern, which indicates uncertainty among the
bulls and the bears. Thus, a selling pressure may increase
on the violation of yesterday’s low of 15809 / 4728. In this
scenario, indices may test 15756 - 15680 / 4708 - 4685
levels.
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1
Technical Research | January 06, 2012
Bank Nifty Outlook - (8455)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Bank Nifty opened on an optimistic note and
traded with extreme volatility throughout the session. The
index has closed well above the “20 EMA” which is a sign of
strength. On the contrary, we are witnessing a negative
crossover in “RSI - Smoothened” oscillator on the hourly
chart, which indicates bearishness. Therefore, if Bank Nifty
sustains below yesterday’s low of 8394, then it is likely to test
the 8322 - 8275 levels. On the upside, 8520 is likely to act
as resistance in coming trading session. A sustainable move
above 8520 level may lead to a further rise and index may
test the resistance zone of 8580 - 8604.
Actionable points:
View
Positive Above 8520
Expected Target
8580 - 8604
Support Levels
8322 -8275
View
Negative Below 8394
Expected Target
8322 - 8275
Resistance Levels
8520
Stock Recommendations:
Exhibit 3: TATA COFFEE ltd. (NSE Cash)
Stock - TATA COFFEE ltd. (NSE Cash)
Action - Buy
Last close
` 797.45
Buying Range
` 795 - `801
Stop Loss
` 777
Target
` 852
Justification - On the Daily chart, the stock has given a
trend line breakout at ` 796 with significant rise in volumes.
We are even witnessing a positive crossover in “5 & 20
EMA” on a daily chart, which suggest further upside in
coming trading sessions. Hence, we advise buying the stock
in the range of ` 795 - ` 801 for a target of ` 852 in
coming 3 - 4 trading sessions.
Source: Falcon
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2
Technical Research | January 06, 2012
Positive Bias:
Expected
Stock Name
CMP
5 Day EMA
20 Day EMA
Remarks
Target
PNB
826.8
803.5
822.1
865
View will change below 806
Mundra Port
126.7
122.8
124.5
133.5
View will change below 123.5
Negative Bias:
Expected
Stock Name
CMP
5 Day EMA
20 Day EMA
Remarks
Target
Jain Irrigation
90.5
90.8
94
84
View will change above 95.5
Biocon
274
275.2
280.6
261
View will change above 284
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3
Technical Research | January 06, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
15,711
15,784
15,882
15,955
16,053
NIFTY
4,704
4,727
4,753
4,776
4,803
BANKNIFTY
8,333
8,394
8,455
8,516
8,577
ACC
1,065
1,089
1,106
1,130
1,147
AMBUJACEM
142
148
151
157
161
AXISBANK
831
851
865
885
899
BAJAJ-AUTO
1,400
1,434
1,454
1,488
1,508
BHARTIARTL
338
341
345
348
352
BHEL
247
251
256
260
264
BPCL
448
454
464
470
480
CAIRN
322
331
336
345
350
CIPLA
327
331
335
339
342
DLF
173
177
182
185
191
DRREDDY
1,553
1,567
1,585
1,599
1,616
GAIL
369
375
385
391
401
HCLTECH
405
410
417
422
430
HDFC
655
663
668
676
681
HDFCBANK
437
440
444
447
450
HEROMOTOCO
1,757
1,793
1,818
1,853
1,879
HINDALCO
114
115
117
118
120
HINDUNILVR
384
389
394
398
403
ICICIBANK
730
739
748
757
766
IDFC
95
98
100
103
105
INFY
2,805
2,822
2,849
2,867
2,894
ITC
197
198
199
201
202
JINDALSTEL
470
476
481
486
491
JPASSOCIAT
52
54
56
57
59
KOTAKBANK
426
436
442
452
458
LT
1,053
1,070
1,083
1,100
1,113
M&M
620
635
643
659
667
MARUTI
913
923
936
946
958
NTPC
152
154
158
160
163
ONGC
255
259
264
267
273
PNB
785
806
821
842
856
POWERGRID
100
101
101
102
103
RANBAXY
428
434
439
445
451
RCOM
72
73
74
75
76
RELCAPITAL
240
244
247
251
255
RELIANCE
675
687
706
718
737
RELINFRA
349
354
360
365
371
RPOWER
70
70
71
72
73
SAIL
82
83
84
85
87
SBIN
1,659
1,675
1,697
1,714
1,736
SESAGOA
159
162
165
168
171
SIEMENS
649
655
661
667
673
STER
91
93
95
96
98
SUNPHARMA
489
495
503
508
516
SUZLON
17
18
19
19
20
TATAMOTORS
197
200
203
205
208
TATAPOWER
90
92
93
95
96
TATASTEEL
352
358
365
370
377
TCS
1,157
1,165
1,175
1,182
1,192
WIPRO
405
410
416
422
428
Technical Research Team
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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 sam[email protected]
Research Team: 022-3952 6600
Website: www.angelbroking.com
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