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Daily Technical Report

October 30, 2012

Sensex (18636) / NIFTY (5666)


The beginning of the week was slightly on the optimistic side, but once again Indices pared their early gains during the second half and eventually closed on a flat note. Yesterday, the Capital Goods, Realty and Power sectors were among the major draggers; whereas the Oil & Gas heavyweight Reliance Industries along with Capital Durables counters supported the market. The advance to decline ratio was strongly in favor of declining counters (A=1234 D=1604) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18650 / 5667 and 17986 / 5456 levels, respectively. The monthly RSI oscillator is moving higher from the 50 mark and the positive in the ADX (9) indicator is intact. The negative crossover in the weekly Stochastic oscillator is still intact. At present, the value of the Daily RSI oscillator is 52.58. The RSI trading above the 50 mark shows strength of the current up trend. The 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138 / 5216 to 5815 are placed at 18416 / 5586 and 18194 / 5515, respectively.

Source: Falcon:

Actionable points:
View for the day Resistance Levels Support Levels Neutral 5729 - 5757 5633 - 5586

Trading strategy:
Every trading session is proving out to be a replica of the previous trading sessions. Its been 14 trading sessions that we have been experiencing a range-bound activity. The markets are clearly awaiting some trigger on the domestic or the global front and todays RBI Monetary Policy might just be the event traders are looking for. The technical levels are still unchanged. We continue to mention that the sustainable breakout or breakdown on either side of the trading range (18886 to 18535 / 5729 to 5633) will provide clear direction for our market. A move beyond 18886 / 5729 level may push indices higher towards 18973 19138 / 5757 5816. A move beyond 19138 / 5816 would attract further buying in the market and as a result, the up move may extend towards 19542 19812 / 5850 5945 levels.

Conversely, a breach of 18535 / 5633 level may trigger nearterm pessimism in the market and as a result, the market may slide towards 18416 / 5586 and 18194 / 5515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138 / 5216 to 5815, respectively. Traders are advised to trade with strict stop losses as we expect the volatility to increase on account of the RBI monetary policy.

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Daily Technical Report


October 30, 2012

Bank Nifty Outlook - (11472)


Yesterday, Bank Nifty opened on a pessimistic note and traded in a narrow range throughout the session. The momentum oscillator Stochastic on the daily chart continues with its sell signal. In addition, now we are witnessing a negative crossover in RSI- Smoothened oscillator on the daily chart. The impact of the negative crossover would be seen if the index sustains below yesterdays low of 11432. In this case the index is likely to drift towards 11364 11303 levels. On the upside 11535 11598 levels are likely to act as resistance for the day. Actionable points:
View for the day Expected Targets Resistance Levels Bearish Below 11432 11364 11303 11535 - 11598

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report


October 30, 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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 18,479 5,616 11,343 1,397 206 3,869 1,198 1,780 741 264 214 338 333 354 344 198 1,671 353 3,317 602 746 633 1,846 112 536 1,051 156 2,296 284 378 87 600 1,660 556 874 1,344 165 271 734 113 512 797 479 2,129 164 671 676 248 104 397 1,291 2,010 335 S1 18,557 5,641 11,407 1,406 208 3,900 1,210 1,795 748 267 220 340 334 357 347 201 1,684 357 3,349 606 752 637 1,875 113 541 1,060 157 2,316 286 383 89 605 1,674 561 881 1,353 166 273 745 114 518 804 487 2,148 166 679 682 253 105 399 1,300 2,023 340 PIVOT 18,650 5,670 11,497 1,413 210 3,924 1,225 1,804 756 269 233 345 336 359 352 204 1,695 362 3,397 610 757 640 1,898 114 546 1,072 158 2,327 288 390 90 613 1,697 568 890 1,363 168 275 754 115 524 809 492 2,176 169 684 686 258 106 402 1,310 2,035 343 R1 18,729 5,694 11,561 1,422 211 3,955 1,237 1,819 763 272 239 347 337 362 355 206 1,708 366 3,429 614 763 644 1,927 115 552 1,081 160 2,347 290 395 92 618 1,711 572 898 1,372 170 276 765 116 530 816 499 2,196 171 692 692 263 108 405 1,319 2,047 348 R2 18,822 5,723 11,650 1,429 213 3,979 1,252 1,828 771 274 252 351 338 364 360 209 1,718 371 3,478 618 768 647 1,949 116 557 1,093 161 2,359 292 402 93 627 1,734 580 907 1,382 171 278 774 116 536 821 504 2,224 174 696 697 269 108 407 1,329 2,059 351

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Daily Technical Report


October 30, 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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