Daily Technical Report

July 20, 2012

Sensex (17279) / NIFTY (5243)

Yesterday, our benchmark indices opened higher on the back of strong rally in the US and European markets but remained in narrow range throughout the day to close well above 5200 mark. On the sectoral front, the buying interest was seen in IT, Consumer Durables and Oil & Gas counters; whereas Auto sector ended with a marginal loss. The advance to decline ratio was in favor of advancing counters (A=1513 D=1299) (Source www.bseindia.com). Formation The weekly 61.8% Fibonacci retracement of the fall from 18524 /5630 (February 22, 2012) 15749 / 4770 (June 4, 2012) is seen at 17464 / 5302. On the weekly chart, we are witnessing a Downward Sloping Trend Line resistance near 17687 / 5386 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). A horizontal consolidation band is observed in the range of 17034 / 5159 and 17635 / 5350. The 20 day EMA is placed at 17200 / 5218 level.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Trading strategy: Yesterday, indices opened higher and maintained their early gains throughout the day. Our markets have now convincingly closed above '20-day EMA'. This gives a slight hint of optimism. Indices are now approaching their immediate intraday resistance of 17343 / 5267 level. A sustainable move above this level may attract enhanced buying interest among market participants. In this scenario, indices are likely to rally towards 17467 - 17583 / 5300 - 5336. On the downside, the gap area of (17135 - 17034 / 5189 5159 levels) formed on 29thJune 2012 remains to be an important support zone for our markets.

Actionable points:

View Expected Targets Support Levels

Bullish above 5267 5300 - 5336 5189 - 5159

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Daily Technical Report

July 20, 2012

Bank Nifty Outlook - (10622)

Yesterday, Bank Nifty opened with an upside gap in line with our benchmark indices but selling pressure at higher levels led the index to close near days low. The momentum oscillators on the daily chart and hourly chart are painting a mixed picture. Thus we expect volatility to increase in coming trading session. At present the index is hovering around its hourly 20 EMA which coincides with yesterdays low of 10606. A move below the 10606 mark would lead to a further fall and the Index is likely to drift lower to test 10544 10500 levels. On the upside 10666 10690 levels are likely to act as resistance in coming trading session. Actionable points:
View Resistance Levels Support Level Neutral 10666 - 10690 10544 - 10500

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

July 20, 2012 Daily Pivot Levels for Nifty 50 Stocks
SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,207 5,220 10,544 1,244 168 3,563 1,035 1,481 669 308 231 374 313 329 355 204 1,610 349 2,614 474 685 583 2,028 120 442 940 136 2,173 251 416 75 560 1,388 700 1,069 155 281 802 111 485 713 515 92 2,113 190 680 104 619 222 99 411 1,187 363 S1 17,243 5,231 10,583 1,253 169 3,591 1,046 1,514 682 312 233 381 318 331 358 206 1,632 353 2,633 477 689 586 2,058 121 444 945 138 2,209 253 421 76 570 1,397 705 1,093 156 283 813 111 487 721 522 93 2,136 192 687 105 623 224 100 413 1,194 366 PIVOT 17,281 5,245 10,646 1,266 170 3,643 1,056 1,540 704 320 235 386 322 333 361 208 1,665 357 2,649 481 692 589 2,097 122 447 951 139 2,229 254 428 77 586 1,409 712 1,134 158 285 828 112 491 725 529 94 2,176 193 695 106 627 225 101 415 1,202 368 R1 17,317 5,256 10,685 1,275 171 3,671 1,067 1,573 718 324 237 394 327 335 363 209 1,687 361 2,668 484 697 592 2,128 123 449 957 141 2,266 256 433 78 597 1,418 717 1,158 159 287 839 113 494 732 536 94 2,199 195 702 107 631 226 102 417 1,209 370 R2 17,355 5,269 10,748 1,287 172 3,723 1,078 1,599 740 331 239 399 331 337 366 211 1,720 365 2,684 488 700 594 2,166 124 451 962 142 2,286 258 441 79 613 1,430 723 1,199 160 289 854 113 498 737 544 95 2,240 197 710 107 635 228 102 419 1,217 372

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Daily Technical Report

July 20, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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