Daily Technical Report

October 25, 2012

Sensex (18710) / NIFTY (5691)

On Tuesday, we witnessed yet another choppy trading session where our indices once again traded in a narrow range and closed below 5700 mark. On sectoral front, along with other sectors, Consumer Durables, IT and Metal counters were the major losers whereas; Consumer Goods was the only sector in green. The advance to decline ratio was in favor of declining counters (A=1308 D=1490) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18617/ 5654 and 17919/ 5434 levels, respectively. The monthly RSI oscillator is moving higher from the 50 mark and the positive in ADX (9) indicator is intact. The negative crossover in weekly Stochastic oscillator is still intact. At present, the value of Daily RSI oscillator is 56.38. The RSI trading above the 50 mark shows strength of the current up trend. The 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138 / 5216 to 5815 are placed at 18416 / 5586 and 18194 / 5515, respectively.
Source: Falcon:

Actionable points:
View for the day Resistance Levels Support Levels Neutral 5729 - 5757 5633

Trading strategy:
On Tuesdays session, markets ended in the negative territory and extremely narrow and range bound movement was witnessed. The markets are still stuck in trading band and we continue to await the breakout from the trading range of 18886 to 18535 / 5729 to 5633. Only a sustainable breakout / breakdown on either side would give clarity of the near term trend. A move beyond 5729 would push indices towards their next resistance and we may then expect our indices to move towards 18973 19138 / 5757 5816. A breach of 18535 / 5633 level would reinforce the selling momentum and in this case we may witness a correction towards 18416 - 18194 / 5586 - 5515 levels.

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Daily Technical Report

October 25, 2012

Bank Nifty Outlook - (11578)

On Tuesday, Bank Nifty opened on a flat note and traded in a narrow range throughout the day to close with a minute loss of 0.25%. The index continued its consolidation phase in the mentioned range of 11745 11245. In line with our benchmark indices there is no major change in the chart structure of Bank Nifty. Thus, we reiterate our view that any fresh positions in the index should be created only if the index sustains outside the said range. In the mentioned range 11657 11722 levels are likely to act as resistance and 11534 11470 levels are likely to act as support in coming trading session. Actionable points:
View for the day Resistance Levels Support Levels Neutral 11657 11722 11534 - 11470

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report

October 25, 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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 18,614 5,659 11,468 1,383 199 3,867 1,206 1,754 765 267 236 340 333 360 351 202 1,711 349 3,358 598 743 628 1,766 111 564 1,064 151 2,328 285 380 93 608 1,665 547 816 1,352 168 273 809 116 533 800 500 2,207 165 676 688 261 104 400 1,305 1,984 339 S1 18,662 5,675 11,523 1,394 201 3,889 1,214 1,762 774 269 238 344 336 363 355 203 1,721 352 3,379 603 747 631 1,781 112 567 1,072 152 2,341 287 385 94 614 1,683 555 822 1,359 168 275 814 117 537 805 504 2,221 166 685 693 263 105 402 1,310 2,003 341 PIVOT 18,737 5,698 11,590 1,409 204 3,916 1,222 1,773 782 272 241 347 339 366 358 206 1,736 356 3,404 608 751 635 1,797 114 570 1,080 154 2,362 291 395 95 625 1,694 567 831 1,369 169 277 821 118 541 810 509 2,244 167 694 698 265 105 406 1,317 2,021 343 R1 18,786 5,714 11,645 1,419 206 3,938 1,230 1,781 792 274 243 352 342 368 362 208 1,746 360 3,426 614 755 638 1,812 115 573 1,088 155 2,375 294 400 96 631 1,712 575 837 1,376 170 278 826 118 545 815 513 2,258 168 703 703 267 106 408 1,322 2,041 345 R2 18,861 5,737 11,712 1,434 208 3,965 1,237 1,793 800 277 246 354 345 371 366 211 1,761 364 3,451 618 759 642 1,829 117 576 1,096 156 2,396 297 410 97 641 1,723 588 845 1,386 171 280 832 119 549 820 518 2,282 170 712 708 269 107 412 1,329 2,059 347

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Daily Technical Report

October 25, 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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