Daily Technical Report

July 12 , 2013

Sensex (19676) / NIFTY (5935)

Yesterday, our benchmark indices opened substantially higher as indicated by the SGX Nifty early in the morning. Markets then maintained their early gains and gradually moved higher to end the session with massive gain of 2%. The Metals, Banking and Reality counters outperformed significantly whereas Consumer Durables faced selling pressure. The cash segment volumes remained considerably lower in spite of such a strong rally in the markets. The advance to decline ratio was strongly in the favor of advancing counters (A=1358 D=974) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19338 / 5850 and 18526 / 5605 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19310/ 5823 and 19363 / 5859, 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 Resistance Level Neutral 5887 - 5904 5948 - 6011

Trading strategy:
All the equity markets across the globe got a booster shot after the Fed Reserve chairman Ben Bernanke announced that the central bank is not in a hurry to raise short term rates and that the accommodative monetary policy will be here to stay for the foreseeable future. We witnessed a huge gap opening in our market and a breakout beyond the stiff resistance level of 19640 / 5904. The daily chart now depicts a breakout from the 'Bullish Pennant' pattern. Considering the current momentum and the positive placement of weekly oscillators, we expect our market to rally towards 19860 / 6011 if they sustain above yesterdays high of 19723 / 5948 levels. On the flipside, 19640 - 19598/ 5904 - 5887 would act as support for our market. Traders should bear in mind that the Infosys results and the IIP numbers will be declared in todays session. Thus traders should stay light on positions and maintain strict stop losses for their trades.

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Daily Technical Report

July 12, 2013

Bank Nifty Outlook - (11655)

Yesterday, the Bank Nifty too opened with nearly two percent upside gap in-line with optimistic trading mood across the globe. During the entire session, the Bank Nifty managed on to the gains and to close well inside the positive territory. In the process, the index has given a 'Downward Sloping Trend Line' breakout as shown in the chart and also crossed the daily '20 EMA' placed at 11567. Considering the positive placement in daily momentum oscillators, we expect the Bank Nifty to test its next resistance level of 11752. Conversely, yesterday's low of 11541 would be key support in coming trading session. A fall below this low would negate all

Exhibit 2: Bank Nifty Daily Chart

bullish possibilities in the near term and traders can use this as a stop loss for their long positions. Actionable points:

View Resistance Level Support Level

Neutral 11752 11541 Source: Falcon:

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Daily Technical Report

July 12, 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 824 826 658 1,633 98 590 1,037 129 497 2,480 343 216 53 721 945 857 906 1,445 104 141 297 618 108 334 853 374 1,885 140 1,074 278 86 256 1,502 1,958 S2 19,368 5,863 11,467 1,230 194 4,780 1,266 1,852 557 290 182 334 287 395 288 175 2,243 314 S1 19,522 5,899 11,561 1,240 196 4,827 1,277 1,864 563 295 184 337 290 398 293 177 2,269 317 2,797 832 840 671 1,665 100 596 1,047 130 504 2,504 348 219 53 733 955 863 912 1,476 105 143 301 624 109 338 862 378 1,898 145 1,085 281 87 258 1,533 1,969 PIVOT 19,623 5,924 11,636 1,255 197 4,857 1,288 1,876 569 298 187 341 292 401 298 178 2,288 320 2,819 841 849 679 1,690 102 599 1,061 131 510 2,534 351 223 54 743 967 869 921 1,527 107 144 304 632 110 344 868 382 1,913 148 1,097 286 88 262 1,552 1,979 R1 19,777 5,960 11,730 1,265 199 4,905 1,299 1,889 574 303 189 343 295 403 303 180 2,314 324 2,847 849 863 691 1,722 105 605 1,071 132 517 2,558 357 226 55 755 977 875 927 1,557 108 145 308 638 111 349 876 386 1,926 153 1,107 290 89 265 1,583 1,990 R2 19,878 5,985 11,804 1,280 201 4,935 1,311 1,901 580 306 191 347 298 407 308 182 2,333 327 2,869 857 871 699 1,747 107 609 1,084 134 524 2,588 360 231 56 765 990 881 936 1,609 110 147 311 646 113 355 882 391 1,941 157 1,119 295 90 268 1,602 1,999

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Daily Technical Report

July 12, 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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