Daily Technical Report

August 30, 2012

Sensex (17491) / NIFTY (5288)

Yesterday, once again indices opened quietly on the back of mixed global clues and similar to previous session continued their slide further to close marginally below the 5300 mark. The Realty, Metal and Auto sectors continued to be among the major draggers; whereas defensive sectors like, FMCG and Health Care stood firm during yesterdays session. The advance to decline ratio was strongly in favor of declining counters (A=1069 D=1708) (Source www.bseindia.com). Formation On the weekly chart, the indices have closed above the Downward Sloping Trend Line resistance around 17650/ 5370 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 17572 / 5327 and 16900 / 5110 levels, respectively. Looking at the Line Chart it is clear that indices have now confirmed the Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The daily momentum oscillators viz., the RSI and the Stochastic are signaling a negative crossover. The weekly chart candle resembles a Shooting Star pattern.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Targets Resistance Levels

Negative Below 5280 5240 5346 - 5359

Trading strategy: For the third consecutive session, indices opened flat and drifted gradually throughout the day. The nightmare continued for some of the individual stocks in Metal, Infra and Banking sectors. Going forward, the further negative momentum is likely to be witnessed if indices sustain below yesterday's low of 17471 / 5283. In this case, indices may test 17285 / 5240 level. Conversely, the resistance levels are intact around 17676 - 17820 / 5359 5399. Traders are advised to exercise caution as the markets are likely to be volatile on account of the derivative expiry.

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Daily Technical Report

August 30, 2012

Bank Nifty Outlook - (10012)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range during first half of the session. However, during last hour of trade we witnessed selling pressure which led the index to close near days low. The positive divergence in momentum oscillator RSI on hourly chart mentioned in our previous report is still intact. We advise traders not to create any fresh short position in the Bank Nifty at this juncture as the index approaches the strong support zone of 9964 9914. Thus on the upside 10098 10134 levels are likely to act as resistance and 9964 9914 are likely to act as support in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 10098 - 10134 9964 - 9914 Source: Falcon

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Daily Technical Report

August 30, 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 17,356 5,243 9,917 1,315 183 3,636 996 1,581 613 234 209 343 335 361 354 182 1,659 358 2,975 538 701 581 1,794 100 516 903 132 2,358 266 349 59 572 1,327 754 1,146 169 268 652 115 538 769 443 74 1,805 165 667 95 664 229 97 369 1,322 357 S1 17,423 5,265 9,964 1,326 185 3,669 1,007 1,603 619 238 213 348 337 364 357 186 1,673 362 2,993 543 708 585 1,821 102 519 910 134 2,373 267 354 62 576 1,338 763 1,157 170 272 659 117 546 776 449 76 1,817 169 671 97 670 231 98 372 1,333 361 PIVOT 17,539 5,305 10,046 1,335 187 3,704 1,018 1,645 626 244 218 353 339 368 359 195 1,691 366 3,008 551 718 590 1,869 105 522 921 136 2,398 269 361 66 580 1,357 770 1,165 172 277 671 120 552 787 461 79 1,837 175 676 101 679 234 100 376 1,345 365 R1 17,606 5,328 10,093 1,346 189 3,737 1,029 1,667 631 248 222 357 341 371 362 199 1,705 369 3,025 556 725 594 1,896 107 525 927 137 2,413 271 367 68 584 1,368 779 1,176 174 280 679 122 560 793 468 81 1,850 179 679 104 684 236 101 378 1,356 368 R2 17,721 5,368 10,175 1,355 191 3,772 1,040 1,709 638 254 228 363 344 375 365 207 1,723 373 3,040 565 735 600 1,944 110 528 938 139 2,437 272 374 72 588 1,387 786 1,184 175 285 691 125 566 804 479 85 1,869 186 684 108 693 239 102 382 1,368 372

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Daily Technical Report

August 30, 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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