Daily Technical Report

January 04, 2013

Sensex (19765) / NIFTY (6010)

Yesterday, for the third consecutive session indices opened higher in-line with positive Asian bourses but struggled to build on their early gains to eventually close marginally in the positive territory. During the session, the Oil & Gas, Teck and Realty sectors have outperformed the benchmark indices; whereas the FMCG, Consumer Durables and Capital Goods counters remained marginally in the negative territory. The advance to decline ratio was strongly in favor of advancing counters (A=1713 D=1263) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19346 / 5883 and 18740 / 5693 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing highs of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level. The 38.20% and 50% Fibonacci retracement levels of the rise from 18255 / 5548 (low on November 20, 2012) to 19612 / 5965 (high on December 11, 2012) are at 19100 18930 / 5806 5755, respectively.

Source: Falcon:

Trading strategy:
It was another gap up opening yesterday and finally the Nifty has managed to close above the psychological level of 6000 mark. Despite this positive achievement, we are now observing that indices have faced a resistance at the Upward Sloping Trend Line (drawn by joining a high of October 5, 2012 and December 11, 2012) during the session. Moreover, the current daily candle resembles a Hanging Man Japanese candlestick pattern. The said pattern has a negative implication BUT needs a confirmation in the form of closing below the low of the candle i.e. 19693 / 5986. However, considering positive sentiments across the globe and bullish higher degree charts, we dont expect a complete reversal of the existing bull trend, although a minor corrective move cannot be ruled out. Thus, in case of a closing below 19693 / 5986, we may witness a short term corrective down move towards 19624 - 19509 / 5960 5935. Any sustainable move beyond yesterdays high of 19787 / 6017 would negate the pattern and Nifty may then move towards the next resistance level 6070.

Actionable points:
View for the day Resistance Levels Support Levels Neutral 6017 - 6070 5986 - 5960 5935

www.angelbroking.com

Daily Technical Report

January 04, 2013

Bank Nifty Outlook - (12778)

Yesterday, the Bank Nifty opened on a flat note and traded in a narrow range throughout the session. We had mentioned in our previous report that the momentum oscillators on the hourly chart are placed in overbought zone. At this juncture we are witnessing that the momentum oscillators on the daily chart are also placed well in the overbought territory. Hence, we reiterate our view that a minor pullback or further consolidation in the index cannot be ruled out. A correction in the index will be seen only if it sustains below the 12722 level. In this scenario the index is likely to correct towards 12615 12563 levels. The overall bias for the index remains positive and any correction in the index should not be termed as a change in trend. On the upside 12808 12838 levels are likely to act as resistance.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View for the day Resistance Levels Support Levels Neutral 12808 12838 12722 12615 Source: Falcon:

www.angelbroking.com

Daily Technical Report

January 04, 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 INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,655 5,974 12,664 1,411 203 4,340 1,377 2,192 868 316 234 359 320 412 356 231 1,821 356 3,136 619 836 675 1,856 132 524 1,159 178 2,295 281 456 99 646 1,611 599 926 1,524 155 273 880 112 510 838 534 2,417 201 681 719 314 108 436 1,251 1,993 392 S1 19,710 5,992 12,721 1,424 205 4,368 1,383 2,204 879 322 236 363 324 415 358 235 1,852 360 3,157 623 841 679 1,872 133 528 1,166 179 2,316 282 461 100 651 1,624 604 931 1,533 156 276 888 113 513 850 540 2,444 202 686 727 316 109 439 1,266 2,009 395 PIVOT 19,748 6,004 12,779 1,438 207 4,398 1,390 2,216 889 325 239 367 326 419 360 238 1,872 364 3,190 627 846 685 1,897 135 531 1,172 181 2,333 284 466 101 657 1,643 611 937 1,550 158 279 901 114 518 856 545 2,463 204 691 737 319 111 442 1,275 2,032 397 R1 19,803 6,022 12,836 1,451 208 4,426 1,397 2,228 900 332 241 370 330 421 363 242 1,902 367 3,211 631 851 689 1,913 136 535 1,178 182 2,354 286 471 102 661 1,655 616 942 1,560 159 282 909 115 521 867 551 2,491 206 696 745 321 112 445 1,290 2,048 400 R2 19,841 6,035 12,895 1,465 210 4,456 1,403 2,240 910 335 243 375 332 425 365 245 1,922 371 3,244 635 856 694 1,938 137 538 1,184 184 2,370 288 475 103 668 1,674 624 948 1,577 161 284 921 116 526 873 556 2,510 207 701 755 324 114 448 1,299 2,072 402

www.angelbroking.com

Daily Technical Report

January 04, 2013
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

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

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600

Sebi Registration No: INB 010996539

www.angelbroking.com 4