Daily Technical Report

September 05, 2013

Sensex (18568) / NIFTY (5448)

Yesterday, our benchmark indices opened on a flat note and rallied during the first half. Subsequently, post a small correction during the mid session, the market surged higher to close at the highest point of the day. Apart from Realty, all the other sectors ended in the positive territory. The Metal, Healthcare and Auto counters dominated the rally. The advance to decline ratio was strongly in favor of advancing counters. (A=1347 D=942) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Hourly Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19124 / 5719 and 18608 / 5610 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 18622/ 5496 and 19125 / 5715 levels, respectively. The monthly RSI-Smoothened oscillator is still negatively poised; whereas the weekly Stochastic momentum oscillator has given a positive crossover. The weekly chart depicts yet another Bullish Hammer Japanese candlestick pattern. The Lower Top - Lower Bottom formation in weekly chart is still intact.

Source: Falcon:

Actionable points:
View Bullish above 5461 5500 5565 5383 5318

Trading strategy: As expected and mentioned in yesterdays report, the Nifty found a decent support around 5295 level, which is the upper trend line level of the Channel pattern formed in an hourly chart. This level also coincides with the 61.8% Fibonacci

Expected targets Support levels

retracement level of rise from 5118 to 5581. At this juncture, the hourly 89 EMA is the immediate resistance level for the Index. This level is near to the 5450 mark. Going forward, we are of the opinion that if Nifty manages to stay above yesterdays high of 5461, then we may witness a surge towards 5500 5565 levels. On the flipside, 5383 5318 remains to be an immediate support for the index.

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Daily Technical Report

September 05, 2013

Bank Nifty Outlook - (8846)

Yesterday, unlike our benchmark indices the Bank Nifty opened on a quiet note. The 78.6% Fibonacci retracement level of 8552 provided significant support for the index and buying interest around this support eventually led to a closing at the highest point of the session. Considering the price action in hourly chart, we are of the view that if index sustains above 8917 then we may expect a rally towards 9000 - 9100 levels. These levels coincide with the upper band of the' Channel' (please refer the exhibit) pattern formed in an hourly chart. A move and close beyond the 9100 would result in a strong breakout on the higher degree charts and would signal a reversal of the ongoing downtrend. On the flipside, 8728 8606 levels would act as important supports in coming trading session.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:

View Expected targets Support Levels

Bullish above 8917 9000 - 9100 8728 - 8606

Source: Falcon:

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Daily Technical Report

September 05, 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 18,032 5,268 8,478 893 158 393 740 1,818 443 274 116 261 318 398 254 117 2,168 289 2,058 999 675 549 1,851 102 594 764 77 331 3,018 288 214 33 575 674 819 749 1,226 115 123 239 391 93 395 817 319 1,431 174 490 295 70 275 1,962 1,360 S1 18,300 5,358 8,662 912 164 398 771 1,854 454 285 122 266 326 409 259 122 2,221 296 2,121 1,019 692 557 1,889 105 605 791 79 349 3,066 294 220 35 592 687 849 765 1,251 118 126 248 402 95 420 833 327 1,463 180 505 303 71 282 2,016 1,424 PIVOT 18,456 5,409 8,789 933 168 404 794 1,876 461 292 125 270 332 415 264 126 2,260 301 2,169 1,035 702 567 1,931 107 615 807 80 362 3,103 299 223 36 608 700 865 777 1,267 120 129 255 411 96 435 849 334 1,487 185 515 309 73 287 2,047 1,466 R1 18,724 5,499 8,973 952 173 409 825 1,911 472 304 131 275 340 426 270 130 2,314 308 2,232 1,055 719 574 1,969 111 626 833 81 380 3,150 305 230 37 625 712 894 793 1,292 124 132 264 422 97 460 865 342 1,519 191 530 317 74 295 2,101 1,530 R2 18,880 5,550 9,100 973 177 414 848 1,934 479 311 134 278 346 432 275 134 2,353 313 2,280 1,071 729 584 2,011 113 636 849 83 393 3,187 311 233 38 641 726 910 805 1,308 126 134 271 431 99 475 881 349 1,543 196 539 322 75 299 2,132 1,573

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Daily Technical Report

September 05, 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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