Daily Technical Report

April 17, 2013

Sensex (18745) / NIFTY (5689)

Despite pessimism across the globe, our benchmark indices opened on a flat note and crossed last weeks high of 18600 / 5611 during the initial hour of the trade. Indices then maintained their positive bias throughout the session to end almost at the highest point of the day. During the day nearly all the sectors ended with stupendous gains whereas IT and Teck counters ended with marginal losses. The advance to decline ratio was in favor of advancing counters (A=1388 D=1022) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 18987 / 5748 and 18688 / 5646 levels, respectively. The 89-week EMA and the 200-day SMA are placed at 18203 / 5506 and 18657 / 5656, respectively. The Lower Top Lower Bottom formation on weekly chart is still intact. We are observing a Spinning Top (only in Nifty) Japanese candlestick pattern on the weekly chart.
Source: Falcon:

Trading strategy:
For the second consecutive session, indices have neglected the negative developments in all other equity markets across the globe. Indices traded with immense optimism from the initial hour of the session. As a result, prices managed to cross the high of the Spinning Top pattern mentioned in the previous reports i.e. 18600 / 5611. This coincided with the breakout from the Downward Sloping Channel in hourly chart. As expected, we witnessed tremendous buying interest which resulted in massive intraday rally of 2%. We are now observing that indices have convincingly traversed 200-day SMA. Also, the daily ADX (9) indicator is now signaling a positive crossover. These evidences indicate possibility of a further upside rally in the near term. Hence, we expect our indices to test 19061 / 5755 level in coming trading sessions. On the flipside, 18600 / 5611 would now provide decent support for the market.

Actionable points:
View Expected Targets Support levels Bullish Above 5700 5755 - 5780 5611 - 5555

www.angelbroking.com

Daily Technical Report

April 17, 2013

Bank Nifty Outlook - (11872)

Yesterday, Bank Nifty opened on a flat to positive note ignoring the bearish global sentiments and continued to soar higher throughout the session to close with a massive gain of 3 %. The momentum oscillators on the hourly chart continue to be placed well inside the overbought territory. However, one should remember that the oscillators can stay in the overbought zone for a long period of time. We are now approaching the Falling Wedge pattern target of 12100. We are also witnessing a trend line breakout by joining the two significant highs of January 29, 2013 and March 11, 2013. Traders holding long positions in the index can book partial profits near 12100 and should trail their stop losses to 11480 levels. We reiterate our view that any dip in the index should be used to create long positions. For the day 12058 12169 levels are likely to act as resistance, whereas 11720 11680 levels are likely to act as support. Actionable points:
View Expected Target Support Levels Bullish Above 11906 12058 12169 11720 - 11680

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

www.angelbroking.com

Daily Technical Report

April 17, 2013

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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 18,168 5,505 11,373 1,105 170 4,597 1,252 1,688 670 276 176 391 283 391 290 236 1,821 315 2,721 751 760 634 1,415 88 466 1,029 142 396 2,264 294 319 71 628 1,357 643 795 1,389 125 138 315 718 102 432 776 344 2,118 139 859 259 94 289 1,443 1,825 S1 18,457 5,597 11,623 1,140 175 4,642 1,308 1,729 675 280 179 399 286 396 292 241 1,872 318 2,777 757 782 649 1,452 91 476 1,054 148 407 2,280 301 328 73 641 1,392 650 820 1,435 127 141 324 729 105 441 790 356 2,151 141 874 265 95 294 1,463 1,861 PIVOT 18,614 5,648 11,764 1,163 178 4,681 1,338 1,755 680 283 181 404 288 399 294 244 1,904 320 2,808 764 794 657 1,475 92 481 1,069 152 414 2,303 305 335 74 649 1,411 656 834 1,462 128 143 328 739 106 445 800 363 2,172 143 884 269 97 297 1,478 1,886 R1 18,902 5,740 12,013 1,198 184 4,726 1,394 1,796 686 288 184 412 290 403 297 248 1,956 323 2,864 770 817 672 1,512 94 491 1,094 158 425 2,319 312 344 75 662 1,446 663 859 1,508 130 146 337 751 109 454 815 374 2,205 145 900 275 98 302 1,498 1,922 R2 19,060 5,791 12,155 1,221 187 4,764 1,425 1,821 690 291 187 417 293 406 299 251 1,988 325 2,895 776 829 681 1,536 96 497 1,110 161 433 2,342 316 350 76 671 1,465 668 873 1,535 131 148 341 761 110 459 825 381 2,226 146 910 278 101 305 1,514 1,947

www.angelbroking.com

Daily Technical Report

April 17, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000

Sebi Registration No: INB 010996539

www.angelbroking.com