Daily Technical Report

June 21, 2013

Sensex (18719) / NIFTY (5656)

Yesterday, our benchmark indices opened with substantial downside gap on the back of extremely negative global cues. Pessimism increased as the day progressed and as a result, indices slumped more than two and half percent during the session. All the sectors ended in the red with the Realty, Metal, Banking and Oil & Gas counters leading the decline. The advance to decline ratio was strongly in favor of declining counters. www.bseindia.com) (A=654 D=1647) (Source

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19298/ 5848 and 19370/ 5865 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19391/ 5877 and 19159 -/ 5809, respectively. The daily RSI and Stochastic momentum oscillators are signaling a positive crossover.

Source: Falcon:

The Monthly Shooting Star Japanese candlestick

pattern has been activated.

Actionable points:
View Expected targets Resistance levels Bearish below 5638 5585 - 5550 5683 - 5740

The daily chart now depicts a bullish Island Reversal

pattern.

Trading strategy:
Yesterday, indices opened more than a percent downside gap considering extreme pessimism seen across the globe. Weakness in rupee added to the woes and as a result, indices closed almost at the lowest point of the day. At present, we are observing that indices have closed marginally above the 78.6% Fibonacci retracement level of the rise from 18144 / 5477 to 20444 / 6230. This level is placed at 18636 / 5638. Going forward, any sustainable move below this level may trigger further pessimism in the market. In this scenario, indices may slide towards 18450 / 5585, which is the 89 EMA on weekly chart. On the flipside, 18820 19000 / 5683 5740 would act as immediate resistance levels.

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Daily Technical Report

June 21, 2013

Bank Nifty Outlook - (11375)

In-line with our benchmark indices, the Bank Nifty too opened substantially lower and continued to experience tremendous selling pressure on the back of global and domestic developments. This selling pressure and significant built up in open interest has let the Index to close below the 78.6% Fibonacci retracement level (11435) of the rise from of 10888 and 13414. Going forward, considering current momentum we expect the index to head lower and test lower level of 11200 11000 levels. On the flipside, the intraday resistance levels are seen at 11500 11650

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Expected targets Resistance Levels

Bearish Below 11340 11200 - 11000 11500-11650 Source: Falcon:

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Daily Technical Report

June 21, 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 18,443 5,576 11,137 1,150 174 4,481 1,212 1,770 556 282 166 345 285 369 291 166 2,032 287 2,675 747 799 619 1,544 94 591 1,019 132 430 2,281 314 205 56 715 1,368 759 918 1,472 97 136 293 664 104 333 781 327 1,969 137 924 279 79 261 1,378 1,757 S1 18,581 5,616 11,256 1,164 179 4,527 1,226 1,795 566 285 169 348 287 374 294 171 2,055 289 2,713 753 808 628 1,573 96 592 1,033 134 440 2,325 319 213 57 727 1,382 770 930 1,499 101 138 296 676 105 338 789 333 1,983 138 947 284 80 267 1,391 1,787 PIVOT 18,825 5,686 11,467 1,184 182 4,561 1,246 1,825 586 290 173 354 290 378 296 178 2,075 292 2,743 765 821 643 1,597 99 594 1,050 138 456 2,387 323 227 60 743 1,400 780 948 1,520 103 141 301 697 106 348 804 345 2,002 141 966 288 81 276 1,412 1,805 R1 18,963 5,725 11,586 1,198 187 4,607 1,260 1,850 597 294 176 357 293 384 298 182 2,098 294 2,781 772 830 652 1,626 101 595 1,064 140 465 2,430 327 236 61 755 1,414 790 961 1,546 106 143 304 709 107 353 812 351 2,016 142 989 293 83 282 1,425 1,836 R2 19,207 5,795 11,797 1,218 191 4,641 1,280 1,880 617 299 181 363 295 388 300 189 2,118 296 2,811 784 843 668 1,649 104 596 1,082 144 482 2,492 332 249 63 772 1,432 801 978 1,567 109 146 309 730 108 363 827 363 2,034 145 1,008 297 84 291 1,446 1,854

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Daily Technical Report

June 21, 2013
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