Daily Technical Report

July 16 , 2013

Exhibit 1: Nifty Daily Chart

Sensex (20034) / NIFTY (6031)

First day of the week began on a muted note in-line with quiet trading mood across the globe. During the initial hour, indices slipped marginally inside the negative territory but eventually managed to recover from the lows and closed with modest gains. The Realty, FMCG and Consumer Durables counters were the front gainers; whereas the Power and IT sectors remained under pressure throughout the day. The Advance to Decline ratio was strongly in favor of Advancing counters. (A=1316 D=991) (Source www.bseindia.com )

Formation
The 89-day EMA and the 89-week EMA are placed at 19367 / 5858 and 18566 / 5616 levels respectively. The 20-day EMA and the 20-week EMA are placed at 19435 / 5859 and 19451 / 5882, 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 daily chart depicts a Bullish Pennant pattern breakout.

Source: Falcon:

Actionable points:
View Support Levels Resistance Level Neutral 5980 5951 6038 - 6088

Trading strategy:
Yesterday, indices maintained their positive momentum after crossing Fridays high of 19992 / 6019 and closed almost at the highest point of the day. Considering yesterdays price action and the overbought conditions of the Stochastic oscillator, some profit booking may be seen in todays trading session. On the downside, 19883 19785 / 5980 5951 remains to be key support levels for our market. A fall and close below this level would be a sign that the short term uptrend is under threat. As expected and mentioned in our previous reports, we have witnessed stock specific movement in many individual counters and this is likely to continue in coming trading session. Thus, we advise traders to adopt a stock-centric approach and avoid taking undue risks.

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Daily Technical Report

July 16, 2013

Bank Nifty Outlook - (11790)

Yesterday, the Bank Nifty too opened flat and traded with slightly negative bias during the initial hour of the session. In our previous report, we had mentioned that the Bank Nifty broke out from the 'Downward Sloping Trend Line' breakout on Thursday. During yesterdays session, it has once again managed to take a support around this trend line and moved higher to close at days high. However, it must be noted that yesterday evening the RBI has taken certain key steps to control liquidity and this is likely to have a near term negative impact on the Banking counters. Thus going forward a fall and close below Friday's low of 11589 would indicate a failure of the positive breakout and would negate all bullish prospects. On the upside, yesterdays high of11812 will now prove to be a key resistance of the Bank Nifty. Only a move beyond this level would warrant a positive outlook for banking counters.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

Source: Falcon:

View Resistance levels Support Level

Neutral 11812 11867 11589 - 11541

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Daily Technical Report

July 16, 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 850 835 678 1,671 98 591 1,045 133 495 2,692 346 217 50 739 984 855 896 1,416 104 139 292 610 108 331 880 377 1,850 149 1,085 283 87 249 1,581 1,914 S2 19,807 5,959 11,551 1,224 192 4,760 1,270 1,830 549 297 182 334 286 403 288 171 2,283 318 S1 19,921 5,995 11,671 1,233 195 4,786 1,289 1,866 570 306 184 337 294 405 290 175 2,316 321 2,784 863 842 687 1,698 102 603 1,053 135 501 2,717 349 220 52 748 995 865 912 1,432 106 140 294 636 109 336 889 384 1,881 153 1,098 286 88 253 1,612 1,928 PIVOT 19,997 6,017 11,741 1,241 196 4,812 1,302 1,886 583 311 187 342 299 407 294 178 2,360 323 2,797 873 848 693 1,716 104 610 1,059 137 505 2,754 351 223 54 755 1,003 879 922 1,448 108 144 296 652 110 340 894 388 1,899 155 1,111 289 89 256 1,629 1,939 R1 20,110 6,052 11,861 1,250 199 4,838 1,322 1,922 604 320 189 346 307 410 296 181 2,392 325 2,813 885 854 701 1,742 108 622 1,067 139 511 2,779 355 227 56 765 1,014 889 938 1,463 110 146 298 678 111 345 903 395 1,930 159 1,124 291 90 261 1,660 1,953 R2 20,186 6,074 11,931 1,258 200 4,864 1,335 1,943 618 325 191 351 312 412 300 184 2,437 327 2,826 895 860 707 1,760 110 630 1,072 141 515 2,815 357 230 57 772 1,022 903 948 1,480 112 149 301 694 112 349 908 399 1,948 162 1,136 295 92 264 1,677 1,964

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Daily Technical Report

July 16, 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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