Daily Technical Report

August 16, 2013

Sensex (19368) / NIFTY (5742)

On Wednesday, our benchmark indices opened marginally higher considering mixed global cues. Post the announcement of disappointing inflation numbers, Nifty trimmed major part of early morning gains. However, strong buying interest in the second half led the index to close at the highest point of the day. During the session, the Auto, Consumer Durables, Oil & Gas and Metal counters let the up move; whereas the Capital Goods and IT stocks remained under pressure. The Advance to Decline ratio was strongly in favor of advancing counters. (A=1274 D=1061) (Sourcewww.bseindia.com )

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19402/ 5832 and 18628 / 5625 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19307 / 5744 and 19392 / 5826, respectively.
Source: Falcon:

The monthly RSI-Smoothened oscillator is negatively poised; whereas the daily RSI momentum oscillator is now signaling a positive crossover. The Niftys weekly chart continues to depict a Lower Top Lower Bottom formation on a closing basis.

Actionable points:
View Resistance Levels Support Levels Neutral 5755 5790 5690 5658

Trading strategy: Despite disappointing inflation numbers the index has managed to hold its previous days optimism. This was mainly on the back of the positive crossover in daily' RSI-Smoothened' oscillator. We are now observing that Nifty has precisely tested the daily' 20 EMA'. This technical tool is considered as a strong resistance. Hence, any selling pressure near this resistance may pull the index lower to test 5690 - 5644 levels. On the flipside, if Nifty stays above previous days high of 5755 then we expect the current up move to continue towards 5790 level, which is the 50% Fibonacci retracement level of the fall from 6094 to 5486.

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Daily Technical Report

August 16, 2013

Bank Nifty Outlook - (10026)

In the previous session, the Bank Nifty too opened marginally higher in-line with our benchmark index. However, narrow range price action was seen during the session. The daily momentum oscillators are now positively poised. Also the Bullish Engulfing candlestick pattern mentioned in the previous report is still very much intact. The impact of these technical evidences would be seen if Bank Nifty sustains above the high of 10071. In this scenario, we may witness a rally in the index towards 10118 10220 levels. On the flipside, 9912 -9832 levels would act as immediate support levels for Bank Nifty.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Expected targets Support Levels

Bullish above 10071 10220- 10348 9912- 9832

Source: Falcon:

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Daily Technical Report

August 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 S2 19,132 5,665 9,844 1,135 169 422 1,104 1,854 510 335 112 284 295 413 266 146 2,176 302 2,360 893 761 603 1,910 89 607 875 110 363 3,017 326 211 31 646 780 823 853 1,361 106 141 267 520 94 376 840 346 1,590 134 528 288 75 236 1,775 1,644 S1 19,250 5,703 9,935 1,162 173 429 1,127 1,881 517 339 116 294 302 417 269 153 2,193 311 2,387 906 771 612 1,923 94 612 890 111 372 3,043 330 218 32 654 790 835 863 1,376 111 143 278 529 96 384 852 352 1,607 137 539 303 76 243 1,804 1,686 PIVOT 19,321 5,729 10,003 1,179 176 436 1,145 1,897 522 345 119 300 307 423 270 157 2,218 316 2,422 927 785 618 1,935 96 617 902 112 382 3,069 334 227 33 662 800 847 874 1,400 113 144 285 540 97 397 860 358 1,625 139 549 314 77 253 1,831 1,713 R1 19,439 5,768 10,094 1,206 180 442 1,168 1,925 529 350 122 310 315 427 272 163 2,235 324 2,448 940 795 627 1,948 101 622 918 114 391 3,096 338 234 34 669 809 859 884 1,415 117 146 296 549 98 405 873 364 1,643 142 560 330 79 260 1,860 1,755 R2 19,510 5,793 10,162 1,223 182 450 1,186 1,940 533 356 126 316 320 434 274 167 2,259 330 2,484 961 809 633 1,961 103 627 930 115 401 3,121 342 244 35 677 819 871 895 1,439 120 148 303 561 100 418 881 370 1,661 144 570 340 80 270 1,887 1,782

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Daily Technical Report

August 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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