Daily Technical Report

July 13, 2012

Sensex (17233) / NIFTY (5235)

Yesterday, our benchmark indices opened lower below the mentioned support level of 17344 / 5258 and traded with extreme pessimism throughout the day. Although some recovery was seen from the days low during the second half, Indices closed below the 5250 mark. On the sectoral front, the fall was mainly led by IT and Teck counters; whereas Realty and Oil & Gas sector ended with nominal gain. The advance to decline ratio was strongly in favor of declining counters (A=1169 D=1635) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) is placed at 16824 / 5083 level. Markets have taken support at the Monthly Upward Sloping Trend Line and have formed a Bullish Engulfing Pattern. We are witnessing a narrow range body formation near 61.8% Fibonacci retracement of the fall from 18524 / 5630 (February 22, 2012) 15749 / 4770 (June 4, 2012). This level is at 17464 / 5302. On the weekly chart we are witnessing a Downward Sloping Trend Line resistance near 17780 / 5420 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012).

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Levels

Neutral 5262 - 5300 5217 5189 - 5159

Trading strategy: Yesterday, we witnessed a gap down opening on the back of negative global clues. Disappointing earnings from Infosys further dented sentiment as the counter tumbled to close 8% lower. At this juncture we are witnessing that the markets have taken support near 20 day EMA which is placed at 17169 / 5217. However, on the contrary RSI-Smoothened momentum oscillator, on the daily chart has given a negative crossover which is a sign of concern in coming trading session. Therefore, on the downside if indices sustain below 17169 / 5217, then they are likely to correct further towards the gap area formed at 17135 - 16919 / 5189 5159 levels.

On the upside 17329 17467 / 5262 5300 levels would now act as resistance in coming trading sessions. While the undertone remains bullish, the indices are likely to trade in a narrow range between 16919 / 5159 to 17635 / 5350 over the next 3 to 5 sessions.

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Daily Technical Report

July 13, 2012

Bank Nifty Outlook - (10616)

Yesterday, Bank Nifty opened with a downside gap in line with our benchmark indices and traded with extreme volatility throughout the session to close near the initial opening level. We had mentioned in our previous report that we are witnessing a negative crossover in RSI - Smoothened oscillator on the hourly chart. The impact of the mentioned tool was seen and the index tested the support level of 10524. We are now witnessing a negative crossover in RSI momentum oscillator on the daily chart. The impact of this technical indicator will be seen once the index sustains below 10524 level. In such a scenario the index is likely to drift further lower towards 10440 10365 levels. On the upside 10670 10700 levels are likely to act as resistance in coming trading session. Positional traders holding long positions are advised to book profits at current levels. Fresh long positions in Bank Nifty can be added on a close above 10783 level on Bank Nifty Spot. Actionable points:
View Expected Targets Resistance Levels Bearish Below 10524 10440 - 10365 10670 - 10700

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

July 13, 2012 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 INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,099 5,194 10,498 1,246 166 3,647 1,033 1,465 708 299 226 769 308 322 349 204 1,625 349 2,606 474 667 567 1,998 120 435 915 133 2,193 248 435 73 595 1,386 712 1,173 155 273 826 111 478 710 535 90 2,173 190 689 103 613 233 98 421 1,204 348 S1 17,166 5,215 10,557 1,255 168 3,685 1,041 1,478 714 303 229 777 311 324 352 207 1,637 355 2,625 477 671 574 2,030 122 439 922 135 2,229 250 440 76 600 1,397 715 1,185 157 278 835 112 483 716 544 91 2,197 191 697 104 617 235 99 425 1,220 354 PIVOT 17,248 5,238 10,617 1,264 169 3,721 1,050 1,498 724 309 232 783 313 326 354 210 1,648 359 2,639 481 677 582 2,053 123 443 928 137 2,254 253 446 77 603 1,415 719 1,200 159 280 849 113 488 723 551 93 2,218 194 710 105 622 238 101 431 1,235 361 R1 17,314 5,259 10,676 1,273 171 3,759 1,057 1,511 730 313 234 792 316 328 356 213 1,660 365 2,658 485 681 589 2,085 125 447 935 139 2,290 255 450 80 608 1,425 723 1,211 161 285 858 113 493 728 561 94 2,242 195 718 106 625 240 102 434 1,251 367 R2 17,396 5,282 10,735 1,282 172 3,795 1,067 1,531 740 320 237 798 318 330 358 215 1,671 369 2,672 489 687 598 2,108 126 452 941 142 2,315 259 456 81 611 1,443 727 1,227 162 288 872 114 498 735 567 95 2,263 197 731 107 630 243 103 440 1,266 375

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Daily Technical Report

July 13, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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