Daily Technical Report

December 12, 2012

Sensex (19387) / NIFTY (5899)

Yesterday, our markets opened slightly higher as suggested by the SGX Nifty and then we witnessed a sudden spurt in the Index during the initial hour of the session. However, as the day progressed, strong selling pressure by the bears dragged indices significantly lower from the days high to eventually close in the negative territory. The IT and Teck sectors continued their down move and the high beta space (Realty, Oil & Gas) contributed to the bearish sentiment; The FMCG sector was the only sector in green. Undoubtedly, the advance to decline ratio was in favor of declining counters (A=1154 D=1766) (Source www.bseindia.com).

Exhibit 1: Nifty Hourly Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18980 / 5770 and 18390 / 5586 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing high of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level . The 78.60% Fibonacci retracement level of the fall from November 5, 2010 (the high was 21109 / 6339) to December 23, 2011 (the low was 15135 / 4531) is at 19812 / 5945. On the daily chart, we are observing a Hanging Man candlestick pattern, occurred on December 6, 2012.
Source: Falcon:

Actionable points:
View for the day Resistance Level Support Levels Neutral 5965 - 6000 5865 5820

Trading strategy:
Yesterday, our benchmark indices surged nearly 1% in the initial hour of the trade but failed to carry the positive momentum throughout the session, to eventually close in the red. The Indices have now tested the upper trend line of the Channel (please refer exhibit) formed in hourly chart. The fall in the later half has resulted in the breakdown from this Channel and a move below yesterdays low of 19285 / 5865 would also confirm Lower Top Lower Bottom formation in hourly chart. In this scenario, Indices may slide down towards the next support zone of 19100 - 19050 / 5820 5800 which coincides with the 20-day EMA as well as 38.20% Fibonacci retracement level of the current up move from 18256 / 5548 to 19612 / 5965. On the flipside, yesterdays high of 19612 / 5965 would act as a strong resistance in coming trading session.

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Daily Technical Report

December 12, 2012

Bank Nifty Outlook - (12345)

Yesterday, in line with our benchmark indices the Bank Nifty too witnessed a volatile session with a trading range of more than 2%. On the hourly chart, we are witnessing that the index took support at an Upward Sloping Trend line (12248) formed by joining the recent intraday lows of 12053 and 12143 levels. Also, the hourly 5&20 EMA are signaling negative crossover. Hence, going forward if Bank Nifty sustains below yesterdays low of 12238 then we could see minor correction towards the 12143 level. On the upside 12375 12484 are likely to act as resistance for the day.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:
View for the day Resistance Levels Support Levels Neutral 12375 12484 12238 - 12143 Source: Falcon:

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Daily Technical Report

December 12, 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 19,101 5,810 12,073 1,395 204 4,238 1,295 1,907 807 307 228 351 312 405 349 209 1,836 349 3,154 598 859 679 1,830 115 524 1,086 169 2,251 299 404 101 649 1,637 585 918 1,448 145 258 800 116 492 800 501 2,254 182 666 689 268 104 387 1,192 1,927 367 S1 19,244 5,854 12,209 1,411 208 4,269 1,310 1,957 816 310 233 355 315 411 353 213 1,859 352 3,182 606 867 685 1,842 117 535 1,104 171 2,273 301 412 102 658 1,652 593 924 1,463 150 261 815 117 498 810 509 2,281 185 672 702 273 106 392 1,206 1,953 373 PIVOT 19,428 5,910 12,374 1,433 211 4,306 1,325 1,986 828 316 239 359 322 417 359 219 1,887 354 3,213 616 875 692 1,852 121 544 1,127 173 2,304 303 418 104 668 1,666 603 929 1,482 154 264 833 118 506 824 516 2,310 188 678 720 278 108 397 1,224 1,977 381 R1 19,571 5,954 12,510 1,449 215 4,338 1,340 2,035 837 319 243 364 325 422 364 224 1,910 358 3,240 625 883 698 1,863 123 555 1,145 176 2,326 306 426 105 676 1,681 611 935 1,496 158 267 848 119 513 834 524 2,337 190 683 733 283 110 402 1,238 2,002 387 R2 19,755 6,010 12,675 1,471 218 4,375 1,355 2,064 848 325 250 367 332 429 370 230 1,938 360 3,272 635 890 705 1,874 126 565 1,168 177 2,358 308 431 106 686 1,695 622 941 1,515 163 271 867 120 521 848 531 2,366 193 689 750 288 112 407 1,257 2,026 394

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Daily Technical Report

December 12, 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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