Daily Technical Report

August 16, 2012

Sensex (17728) / NIFTY (5380)

On Tuesdays session, once again indices opened quietly in-line with mixed global cues and buying throughout the session pushed indices higher to close near mentioned resistance level of 17727 / 5386. Tuesdays up move was mainly led by Oil & Gas, Banking and Metal counters; whereas Realty and FMCG remained under pressure throughout the day. The advance to decline ratio was in favor of advancing counters (A=1412 D=1385) (Source www.bseindia.com). Formation On the weekly chart, the indices have precisely tested the Downward Sloping Trend Line resistance near 17727 / 5386 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and the 200-day SMA are placed at 17284 / 5242 and 16900 / 5100 levels, respectively. A weekly closing above 17727 / 5386 level would confirm a Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The candlestick pattern on the daily chart resembles a Shooting star and signifies resistance near 17727 / 5386 levels.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Levels

Neutral 5387 5425 5329 - 5290

Trading strategy: The sharp up move in the last session was seen after the announcement of July month inflation numbers. Going forward, as mentioned in our weekly report, only a weekly closing above 17727 / 5386 level would confirm a "Higher Top Higher Bottom" formation in weekly chart. Hence, we would still await Fridays closing, which can be very decisive for our markets. For coming trading session, if our markets sustain above 17754 / 5387, then they are likely to rally higher to test 17840 / 5425 level. Conversely, 17572 - 17450 / 5329 - 5290 levels may provide decent support for the day.

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Daily Technical Report

August 16, 2012

Bank Nifty Outlook - (10519)

On Tuesday, Bank Nifty opened on a positive note and gained strength as the day progressed to close in the positive territory. Going forward we expect the Bank Nifty to trade in the broad range of 10240 to 10622. Within the mentioned range intraday traders should watch out for the 10410 10375 levels which may act as support for the day. On the upside, intermediate resistance is seen at 10547 and 10600 levels. The broad range is likely to continue so long as individual stocks display a divergence in trend. At this juncture, we can clearly infer that SBI is expected to underperform the market whilst the private sector banks such as ICICI and HDFC bank have a substantially bullish outlook. Actionable points: Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 10547 10600 10410 10375 Source: Falcon

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Daily Technical Report

August 16, 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 17,504 5,307 10,326 1,343 193 3,732 1,063 1,651 617 257 227 340 326 345 347 210 1,621 364 2,936 527 691 601 1,855 117 485 941 131 2,272 263 400 74 575 1,412 729 1,148 168 277 708 118 476 781 504 84 1,881 189 650 110 652 224 99 382 1,253 350 S1 17,616 5,344 10,422 1,349 194 3,757 1,085 1,670 628 259 229 343 328 347 351 213 1,633 369 2,975 539 697 605 1,867 119 491 955 134 2,301 265 409 75 580 1,433 739 1,166 170 281 720 119 488 790 516 85 1,896 191 656 112 660 230 100 394 1,261 353 PIVOT 17,685 5,365 10,485 1,356 195 3,787 1,098 1,691 636 261 232 348 330 350 353 216 1,643 373 3,000 545 706 607 1,883 121 494 964 136 2,318 267 415 76 585 1,446 745 1,179 171 285 728 120 495 796 527 86 1,913 193 665 112 668 233 101 401 1,267 355 R1 17,797 5,402 10,582 1,362 196 3,812 1,120 1,710 647 263 235 352 332 352 357 219 1,655 379 3,039 557 712 610 1,895 122 499 979 138 2,346 270 424 78 591 1,467 755 1,197 173 289 739 121 508 805 539 88 1,928 195 671 114 676 238 102 412 1,275 358 R2 17,866 5,424 10,644 1,370 197 3,842 1,132 1,732 656 265 238 357 335 355 359 222 1,665 382 3,064 564 722 613 1,911 124 502 988 140 2,364 272 429 79 595 1,480 761 1,210 175 292 747 122 515 811 549 88 1,945 197 680 115 684 241 102 419 1,281 360

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Daily Technical Report

August 16, 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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