Daily Technical Report

August 13, 2012

Sensex (17558) / NIFTY (5320)

We had a sluggish opening in our markets on Friday and indices drifted marginally lower post the announcement of SBI quarterly results to test the mentioned support level of 17450 / 5290. However, a sharp recovery during the second half led indices to close well above 5300 mark. On sectoral front, IT, Teck and FMCG counters traded with strong positive bias throughout the session; whereas Consumer Durables, Auto and PSU sectors were among the major losers. The advance to decline ratio was in favor of declining counters (A=1202 D=1553) (Source www.bseindia.com). Formation On the weekly chart, the indices have precisely tested the Downward Sloping Trend Line resistance near 17727 / 5386 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and the 200-day SMA are placed at 17284 / 5242 and 16900 / 5100 levels, respectively. A weekly closing above 17727 / 5386 level would confirm a Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The candlestick pattern on the daily chart resembles a Shooting star and signifies resistance near 17727 / 5386 levels.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Levels

Neutral 5354 - 5386 5294 - 5260

Trading strategy: Despite negative data pertaining to the domestic economy, our markets are currently showing strength around the 5300 mark. The minor impact of Shooting Star was seen during the last two sessions of the week as indices corrected to test strong support levels of 17450 / 5290, but eventually the Nifty closed above the 5300 mark. At his juncture, the correction can also be construed as a pull-back towards the "Downward Sloping Trend Line" drawn by joining the highs of 18524 / 5630 (February 22, 2010) 17631 / 5349 (July 10, 2012).

A weekly close above 17727 / 5386 level would indicate a breakout and a Higher Top - Higher Bottom formation is likely to begin. In this scenario, we may witness immense buying interest among market participants. Hence, this accelerated momentum may push the market higher to test 17900 18050 / 5450 - 5500 levels. Conversely, 17450 17313 / 5290 5260 levels are likely to act as decent support levels in the coming week. A sustainable move below 17313 / 5260 level may result in a loss of current positive momentum and hence, may drag indices lower to test 17208 / 5220 mark.

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Daily Technical Report

August 13, 2012

Bank Nifty Outlook - (10359)

On Friday, Bank Nifty opened on a pessimistic note and traded with immense volatility to close with a loss of 1% on the back of disappointing results from SBI. The momentum oscillators on the daily chart continue with their sell signal. On the weekly chart we are witnessing a Spinning Top candlestick indicating indecisiveness at current levels. We are of the opinion that 10240 mark is an important support level for the index and a breach of this support level would further deteriorate the sentiments. In this scenario Bank Nifty may test 10109 - 10056 levels. On the upside, 10456 10511 levels are likely to act as resistance in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 10456 10511 10270 10240 Source: Falcon

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Daily Technical Report

August 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 17,421 5,279 10,183 1,324 191 3,664 1,017 1,650 608 247 225 325 318 342 343 207 1,629 361 2,955 529 681 596 1,862 120 482 924 128 2,242 262 398 74 547 1,395 728 1,126 167 275 707 116 474 767 492 83 1,801 185 645 107 659 227 98 394 1,244 340 S1 17,489 5,300 10,271 1,333 193 3,688 1,044 1,663 618 251 227 339 321 346 346 209 1,637 364 2,975 533 685 599 1,887 121 490 939 130 2,278 265 404 74 564 1,410 734 1,146 170 277 714 118 479 775 498 84 1,845 188 652 109 667 230 99 397 1,262 345 PIVOT 17,540 5,315 10,360 1,344 194 3,721 1,067 1,679 631 257 229 347 323 351 350 210 1,646 369 3,000 536 689 603 1,923 123 494 950 133 2,299 267 409 75 574 1,419 739 1,161 171 280 726 120 487 782 506 85 1,919 190 658 110 679 233 100 402 1,274 348 R1 17,608 5,336 10,448 1,353 195 3,746 1,094 1,692 641 262 231 361 327 355 353 212 1,654 372 3,020 540 694 606 1,948 124 502 966 135 2,335 270 414 76 591 1,434 745 1,181 173 282 733 121 493 789 512 86 1,963 193 665 112 687 236 101 405 1,291 353 R2 17,659 5,351 10,537 1,364 197 3,779 1,117 1,707 654 268 233 369 329 360 357 214 1,662 376 3,045 544 698 610 1,984 126 507 977 137 2,356 272 419 77 601 1,443 750 1,196 175 285 744 123 501 797 519 87 2,037 195 671 114 698 239 102 410 1,303 357

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Daily Technical Report

August 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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