Daily Technical Report

December 31, 2012

Sensex (19445) / NIFTY (5908)

On Friday, our benchmark indices traded with positive bias to close above 5900 mark with a gain of 0.65%. This was mainly due to buying in energy stocks following the reports of a gradual hike in fuel prices. On sectoral front, Oil & gas counters gained the most by more than 2%. The IT and PSU counters also contributed to the rally while the Healthcare and Banking sectors ended with marginal loss. The advance to decline ratio was strongly in favor of advancing counters (A=1514 D=1371) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19263 / 5859 and 18638 / 5662 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing highs of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level. The 38.20% and 50% Fibonacci retracement levels of the rise from 18255 / 5548 (low on November 20, 2012) to 19612 / 5965 (high on December 11, 2012) are at 19100 18930 / 5806 5755, respectively.

Source: Falcon:

Trading strategy:
The first and the last week of the year 2012 both ended on a cheerful note. Despite so many ups and downs, our benchmark indices eventually managed to wrap up the year with a massive gain of more than 25% over the previous years closing. Compared to the previous weeks closing, there is no significant change in the chart structure. Hence, we continue to mention the narrow trading range of 19613 / 5965 19149 / 5823. Only a sustainable breakout on either side would give a clear direction for the near term. A move beyond 19613 / 5965 level would result in an extended rally towards 20050 20218 / 6000 6070 levels. Conversely, a closing below the lower range of 19149 / 5823 may trigger short term pessimism in the market. In such a scenario, we may witness a correction towards 19100 18930 / 5806 5755. These levels are the 38.20% and 50% Fibonacci retracement levels of the rise from 18255 / 5548 (low on November 20, 2012) to 19612 / 5965 (high on December 11, 2012), respectively.

Actionable points:
View for the day Resistance Levels Support Levels Neutral 5931 5965 5860 - 5843

However any adverse developments in the US, with regards to the Fiscal Cliff may result in enhanced volatility in the market. Considering the overall weekly chart structure we continue to remain positive on the market and any corrective move towards 19000 18900 / 5800 5750 levels should be used by positional traders as a buying opportunity. We wish all traders and investors a happy and profitable 2013.

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Daily Technical Report

December 31, 2012

Bank Nifty Outlook - (12458)

On Friday, Bank Nifty traded in a narrow range throughout the session to close on a flat note. The index continues to trade in the mention range of 12568 12197. There is no significant change in the chart structure and the positive crossover in Stochastic momentum oscillator on the daily chart mentioned in our previous report is still intact. Hence we reiterate our view that if the index sustains above 12540 level it is likely to rally towards 12654 12760 levels. On the downside 12394 12363 levels are likely to act as support for the day.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:
View for the day Expected targets Support Levels Positive Above 12540 12654 12760 12394 - 12363 Source: Falcon:

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Daily Technical Report

December 31, 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 19,299 5,865 12,349 1,385 198 4,334 1,341 2,100 841 309 223 336 316 412 348 221 1,808 345 3,105 615 819 669 1,861 126 515 1,123 170 2,275 286 435 95 642 1,600 602 910 1,468 154 257 832 111 496 811 507 2,354 191 649 719 306 108 422 1,242 1,947 384 S1 19,372 5,887 12,403 1,397 200 4,364 1,350 2,119 849 314 225 344 318 414 351 223 1,817 348 3,124 621 827 674 1,879 128 518 1,132 172 2,299 288 441 96 646 1,610 608 917 1,484 155 262 837 112 499 826 512 2,367 193 659 729 308 109 425 1,255 1,959 388 PIVOT 19,419 5,901 12,449 1,407 202 4,386 1,358 2,143 859 319 227 353 319 418 353 225 1,828 351 3,150 628 834 678 1,891 130 521 1,139 173 2,312 289 446 97 651 1,620 614 928 1,501 157 264 844 114 502 836 518 2,382 194 666 741 310 109 429 1,263 1,968 390 R1 19,492 5,923 12,503 1,419 203 4,417 1,367 2,162 867 324 229 361 322 420 356 227 1,837 354 3,168 633 841 682 1,909 131 524 1,149 174 2,336 291 451 98 656 1,630 620 935 1,517 158 269 849 115 506 850 523 2,395 196 676 751 312 110 433 1,276 1,980 395 R2 19,539 5,937 12,549 1,429 205 4,439 1,374 2,186 876 328 231 370 323 424 358 229 1,847 356 3,194 641 849 687 1,921 133 527 1,156 176 2,349 292 456 99 661 1,640 627 945 1,533 159 271 856 117 509 860 529 2,410 197 683 763 314 111 437 1,285 1,988 397

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Daily Technical Report

December 31, 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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