Technical Research | November 09, 2011

Daily Technical Report

Sensex (17570) / NIFTY (5289)
Markets opened quietly and corrected marginally during the first half of the session. However, buying attracted at lower levels during the second half which pushed indices higher to close slightly below 17600 / 5300 mark. On the sectoral front, the Realty and Health Care counters were among the major losers Consumer Durables sector ended on a gaining side. The advance decline ratio was in favor of advancing counters (A=1434 D=1399). (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
On the Weekly chart, the Downward Sloping Trend Line is now placed around the 18100 / 5450 level. The Daily 200 SMA is placed at 18000 / 5400 level. The 20 EMA on the Daily and Weekly chart is placed

at 17165 / 5165 and 17300 / 5200, respectively. The positive crossover in the Weekly ADX (9) indicator is
Source: Falcon

still intact. (Note: All technical evidences mentioned in earlier report are almost unchanged; therefore, we continue to mention them)

Trading strategy:
After flat opening indices corrected towards the intraday support level of 17450 / 5250 and bounced from these levels during second half of the session. As mentioned in our earlier reports, the support remains to be at 17300 17165 / 5200 5160 levels. On the upside, yesterdays high of 17632 / 5304 level would act as an immediate resistance. If indices manage to sustain above this level then they are likely to move towards 17700 17820 / 5326 5365 levels.

Actionable points:
View Resistance Levels Support Levels Neutral 5326 5365 5200 5160

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Technical Research | November 09, 2011

Bank Nifty Outlook - (9853)

Bank nifty opened on a flat note and drifted lower during initial part of the session. However, during the second half buying emerged near days low, which led Bank Nifty to close near the initial opening level. We are witnessing a Doji candle formation, which is a sign of indecisiveness at current levels. Only a sustainable move above 9914 level will lead the index to test the next resistance level of 10080. On the downside, 9733 9647 levels may act as support levels for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points: View Resistance Levels Support Levels

Neutral 9914 10080 9733 9647
Source: Falcon

Stock Recommendations:
Stock Jet Airways (NSE Cash) Action Buy Last close - ` 267.45 Buying Range - ` 267 - ` 262 Stop Loss - ` 255.45 Target - ` 288

Exhibit 3:Jet Airways (NSE Cash) Daily chart

Justification On the Daly chart, the stock has given a downward sloping trend line breakout at ` 264 with significant rise in volumes. Moreover, we are observing a positive crossover in Weekly RSI Smoothened oscillator. Combining above technical evidences, it seems that the stock has a potential to rally in coming days. Hence, we advise traders to buy this stock from current level to a decline up to ` 262 for a target of ` 288 in coming 2 3 Weeks.

Source: Falcon

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Technical Research | November 09, 2011

Positive Bias: Stock Name Titan Inds Apollo Tyres Jain Irrigation 5 Day EMA 218.2 57.4 118.3 20 Day EMA 217 56.4 127.1 Expected Target 230 63.50 129.50 Remarks View will change below 216 View will change below 54.7 View will change below 107

Negative Bias:

Stock Name Yesbank Century Textile Ranbaxy

5 Day EMA 310.3 328.7 504.6

20 Day EMA 297 316 505.8

Expected Target 298 317 485

Remarks View will change above 318.5 View will change above 335 View will change above 520

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Technical Research | November 09, 2011

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA 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 RELCAPITAL RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,375 5,230 9,665 1,202 158 1,117 1,695 391 332 585 301 286 232 1,588 416 420 666 475 2,087 136 373 863 122 2,770 207 562 76 485 1,366 821 1,109 175 270 955 103 487 82 359 863 453 98 107 1,943 205 833 121 483 36 183 101 460 1,087 364 S1 17,472 5,259 9,759 1,210 160 1,128 1,709 394 333 594 311 289 238 1,605 419 424 673 479 2,103 138 377 872 124 2,806 209 568 77 492 1,379 828 1,117 176 274 967 104 492 84 367 873 464 100 109 1,970 209 842 122 491 37 186 102 464 1,096 367 PIVOT 17,552 5,282 9,826 1,220 162 1,141 1,732 398 336 610 317 291 244 1,619 423 431 682 483 2,127 140 382 880 127 2,827 210 575 79 499 1,392 837 1,125 178 281 977 104 500 86 372 879 471 102 110 1,987 212 853 124 503 37 189 103 468 1,105 370 R1 17,649 5,312 9,920 1,228 165 1,153 1,746 401 337 619 327 294 249 1,636 426 436 688 488 2,144 142 386 889 129 2,863 212 581 80 506 1,406 845 1,133 180 285 989 104 504 88 381 890 483 105 112 2,014 215 862 125 511 38 192 104 472 1,115 373 R2 17,729 5,334 9,988 1,238 167 1,166 1,768 405 340 635 333 296 255 1,650 430 443 697 492 2,168 144 390 896 132 2,884 214 588 82 512 1,419 854 1,141 182 292 999 104 512 90 386 896 490 106 114 2,031 218 874 126 523 38 194 106 476 1,124 376

Technical Research Team

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Technical Research | November 09, 2011 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 sameet.chavan@angelbroking.com Research Team: 022-3952 6600 Website: www.angelbroking.com

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