Daily Technical Report

August 07, 2012

Sensex (17413) / NIFTY (5283)

Yesterday we witnessed a gap up opening on the back of strong closing in the European as well as US markets on Fridays session. Indices then traded in a very narrow range throughout the session to close marginally below 5300 mark. The Oil & Gas, Banking and Auto sectors contributed heavily during yesterdays session; whereas FMCG and IT counters closed with a nominal loss. The advance to decline ratio was strongly in favor of advancing counters (A=1676 D=1162) (Source www.bseindia.com). Formation The weekly 50% and 61.8% Fibonacci retracement levels of the rise from 15748 / 4770 (June 08, 2012) to 17631 / 5349 (July 13, 2012) are seen at 16690 / 5059 and 16467 / 4991 levels, respectively. On the weekly chart, we are witnessing a Downward Sloping Trend Line resistance near 17450 / 5300 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and 200-day SMA are placed at 17110 / 5190 and 16879 / 5100 levels, respectively. The positive crossover in daily RSI Smoothened oscillator and 5 & 20 EMA is still intact.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Levels

Neutral 5300 - 5349 5260 - 5220

Trading strategy: Yesterday, after a gap up opening indices maintained their early gains throughout the day and closed firmly near 5300 mark. Yesterday's rally was mainly led by a single heavyweight, Reliance Industries. Indices have now closed precisely below the "Downward Sloping Trend Line" drawn by joining the highs of 18524 / 5630 (February 22, 2010) 17631 / 5349 (July 10, 2012). Hence, a sustainable move above this trend line resistance of 17450 / 5300 would confirm the breakout and indices then may immediately move towards 17631/ 5349 level. Considering, the broader picture, a close beyond 17631 / 5349 level would signal the start of a fresh rally. On the downside, yesterday's low of 17313 / 5260 is a crucial support in the near term.

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Daily Technical Report

August 07, 2012

Bank Nifty Outlook - (10462)

Yesterday, Bank Nifty opened with an upside gap and traded in a narrow range throughout the session. The index is in trading in the range of 10150 10500 for the last 5 sessions. Thus we reiterate our view that a sustainable move outside the said range will dictate a clear direction of the trend. If the index moves above 10500 then it is likely to rally towards 10570 10627 levels. On the downside 10354 10315 levels are likely to act as support in the coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Level

Neutral 10500 10570 10354 - 10315

Source: Falcon

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Daily Technical Report

August 07, 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 17,254 5,247 10,389 1,308 183 3,689 1,045 1,615 647 290 225 336 327 347 338 205 1,633 355 2,873 516 697 589 1,953 117 463 945 128 2,192 255 392 74 547 1,386 683 1,119 163 277 732 118 502 733 504 83 1,996 181 662 102 657 225 96 397 1,211 338 S1 17,333 5,265 10,426 1,313 184 3,719 1,054 1,626 650 293 227 340 330 349 341 208 1,645 360 2,894 519 704 595 1,966 118 465 949 130 2,205 257 396 75 554 1,396 689 1,128 164 279 738 119 507 760 509 84 2,007 182 668 103 664 227 96 401 1,220 342 PIVOT 17,393 5,279 10,464 1,319 185 3,754 1,064 1,635 656 297 229 346 336 352 344 211 1,665 364 2,922 522 708 598 1,975 118 468 955 131 2,220 259 401 76 559 1,405 693 1,135 166 281 747 120 513 775 515 86 2,022 184 675 104 670 228 98 405 1,234 347 R1 17,472 5,297 10,500 1,324 186 3,784 1,073 1,646 659 300 231 351 339 354 347 214 1,678 369 2,943 526 715 604 1,988 119 470 959 133 2,232 261 404 77 567 1,415 699 1,144 168 283 753 122 519 801 520 87 2,033 185 681 105 677 231 99 408 1,243 351 R2 17,531 5,311 10,538 1,330 187 3,819 1,082 1,655 664 304 233 357 345 357 350 216 1,697 373 2,970 529 720 607 1,998 120 472 965 134 2,247 264 409 77 572 1,425 703 1,151 170 285 761 123 525 816 526 88 2,048 186 688 105 682 232 100 412 1,257 357

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Daily Technical Report

August 07, 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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