Technical Research | August 19, 2011

Daily Technical Report

Sensex (16470) / Nifty (4944)
Markets opened on a neutral bias and traded with extreme pessimism throughout the day to give a close in the negative territory. On the sector front IT, Banking and Teck counters were among the major losers. The advance decline ratio was in favor of declining counters (A=679 D=2180). (Source www.bseindia.com)

Exhibit 1: Sensex Daily Chart

Formation
No particular formation is seen on the chart.

Trading strategy:
Markets opened on a flat note in-line with global cues and faced immense selling pressure throughout the trading session. The major sell-off was witnessed mainly in Banking and IT counters. Looking at the Global Indices, we expect our benchmark Indices to open lower. Thus, if indices breach yesterdays low of 16433 / 4932 and trade convincingly below these levels then they are likely to test lower levels of 16300 16200 - 16000 / 4900 4850 4800 levels. However, considering the oversold position of momentum oscillator on daily chart, there is a possibility of minor bounce back if indices manage to trade above 16521 / 4954. Traders who have short positions should maintain this level as their protective stop loss. In this case, indices may test 16650 16750 / 5000 5025 levels.
Source: Falcon

For Private Circulation Only |

Technical Research | August 19, 2011

Daily Pivot Levels For Nifty 50 Stocks

SCRIPS SENSEX NIFTY 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 16,123 4,839 982 129 1,052 1,378 382 1,736 667 270 278 169 1,409 429 371 616 449 1,925 132 313 826 101 2,263 201 471 56 419 1,605 689 1,121 170 270 961 101 464 73 372 723 384 81 101 1,996 219 852 122 467 37 723 1,004 451 925 311 S1 16,296 4,891 994 131 1,081 1,408 387 1,750 673 273 281 175 1,436 434 384 628 456 1,939 135 315 845 104 2,309 202 483 57 427 1,616 703 1,140 172 273 986 102 470 75 384 732 404 82 103 2,037 223 860 125 473 38 738 1,023 457 944 320 PIVOT 16,607 4,985 1,003 133 1,127 1,433 394 1,769 680 278 286 182 1,477 439 404 648 465 1,951 139 318 880 109 2,388 204 503 58 438 1,633 719 1,172 175 277 1,017 103 478 76 402 746 431 85 105 2,111 229 870 130 481 39 762 1,051 465 977 333 R1 16,780 5,038 1,014 135 1,155 1,463 399 1,782 687 281 290 189 1,504 443 417 661 472 1,965 142 320 899 112 2,434 206 515 59 447 1,645 733 1,191 177 280 1,042 104 484 78 413 755 451 86 107 2,152 232 878 133 486 40 777 1,069 471 995 341 R2 17,090 5,131 1,024 137 1,201 1,488 407 1,801 694 286 295 196 1,546 448 438 681 482 1,977 147 323 934 116 2,514 207 535 60 458 1,661 749 1,222 180 283 1,073 105 492 79 432 769 478 88 110 2,226 238 888 138 494 41 802 1,097 479 1,028 354

Technical Research Team

For Private Circulation Only |

Technical Research | August 19, 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 mehul.kothari@angelbroking.com Research Team: 022-3935 7600 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
For Private Circulation Only |