Daily Technical Report

July 10 , 2013

Sensex (19439) / NIFTY (5859)

Yesterday, our markets opened with half a percent up side gap in-line with positive Asian bourses. Subsequently, benchmark indices oscillated within a narrow trading range for the entire session to close in the positive territory. The Consumer Durables, Realty, Capital Goods & Banking counters contributed heavily in yesterdays up move. There was no sector in the negative territory. The advance to decline ratio was in favor of advancing counters. (A=1306 D=1014) (Sourcewww.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19331 / 5849 and 18521 / 5604 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19269/ 5811 and 19340 / 5852, respectively. The weekly RSI and Stochastic oscillators are positively poised. The 61.8% and 78.60% Fibonacci retracement levels of the fall from 20444 / 6229 to 18467/ 5566 are placed at 19689 / 5976 and 20021 / 6088, respectively. The weekly chart now depicts a Bullish Engulfing pattern but the monthly chart shows a 'Bearish Engulfing" Japanese candlestick pattern.
Source: Falcon:

Actionable points:
View Support Levels Neutral 5834 5760 5904

Trading strategy:
Although our markets opened higher yesterday, the actual price action was lackluster and range bound. We are now observing that indices have precisely filled Mondays downside gap and closed near that price zone. Considering the hourly chart, it is clearly seen that indices have been moving within the Channel pattern since last 5 6 trading session. The trading band is similar to the range mentioned in our earlier report i.e. 19640 19147 / 5904 5760. As there is no major change in the chart structure, we continue to wait for a decisive move beyond the upper or the lower price of the channel. In bullish scenario, any sustainable move beyond 19640 / 5904 would push indices higher to test 19688 / 5976. On the lower side, 19147 / 5760 is a critical support level for the market. We advise traders to shift their focus towards the individual stocks and avoid taking undue risks.

Resistance Level

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Daily Technical Report

July 10, 2013

Bank Nifty Outlook - (11442)

Yesterday, the Bank Nifty too opened higher in-line with our benchmark indices and traded with positive bias throughout the session. During the session, some of the individual banks gave a decent move. The Bank Nifty is now once again hovering below the hourly 89-EMA which is placed at 11465. Hence, going forward, a sustainable move beyond this level would reinforce the upward momentum. In this scenario, the Index may move towards their next resistance levels of 11530 11590. On the downside, 11353 11176 would act as immediate support levels. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected Targets Support Level

Bullish above 11465 11530 11590 11353 11176

Source: Falcon:

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Daily Technical Report

July 10, 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 809 823 657 1,648 98 599 1,018 125 491 2,465 343 209 52 673 1,401 820 918 1,510 101 139 297 615 104 337 860 362 1,864 139 1,028 282 84 258 1,481 1,871 S2 19,329 5,823 11,313 1,225 191 4,645 1,250 1,851 551 286 181 339 290 394 281 171 2,212 313 S1 19,384 5,841 11,378 1,238 193 4,704 1,257 1,875 560 289 184 342 292 397 286 174 2,248 315 2,794 816 827 664 1,654 100 602 1,026 126 497 2,481 345 213 52 693 1,414 828 928 1,527 102 141 300 624 107 343 867 370 1,879 141 1,054 286 85 260 1,493 1,901 PIVOT 19,435 5,853 11,418 1,256 194 4,739 1,267 1,895 567 293 186 348 295 400 290 177 2,269 318 2,809 822 829 669 1,660 101 607 1,034 128 502 2,498 348 219 53 706 1,424 837 944 1,538 103 142 303 629 109 347 875 376 1,896 143 1,074 288 86 262 1,507 1,919 R1 19,490 5,871 11,483 1,269 197 4,798 1,274 1,918 576 296 189 351 297 403 295 180 2,306 321 2,825 829 833 675 1,666 102 610 1,042 129 508 2,514 350 223 54 727 1,437 845 954 1,555 103 144 306 638 111 352 882 385 1,911 145 1,100 291 86 264 1,519 1,949 R2 19,541 5,883 11,523 1,288 198 4,833 1,285 1,939 584 300 192 357 300 405 298 182 2,327 324 2,841 835 835 680 1,672 103 615 1,050 130 513 2,531 352 229 54 740 1,447 854 970 1,566 104 145 309 643 113 356 889 390 1,928 146 1,120 294 87 266 1,534 1,968

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Daily Technical Report

July 10, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@angelbroking.com Website: www.angelbroking.com

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

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