Daily Technical Report

November 01, 2012

Sensex (18505) / NIFTY (5620)

Yesterday, once again indices opened flat and tested the mentioned support level of 18400 / 5589 in the first half of the session. However, buying interest in banking, pharma and few metal stocks in the later half led the indices to close in green above 5600 mark. Sectors like Healthcare, Auto and Realty were among the major gainers. FMCG, Oil & Gas and Consumer Goods counters remained under pressure during yesterdays trading session. The advance to decline ratio was in favor of advancing counters (A=1483 D=1302) (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. 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:

Trading strategy:
Yesterday, our benchmark indices gained strength in the later half and managed to close on positive note. On technical front, this was mainly due to the Positive Divergence in RSI momentum oscillator on the hourly chart. At this juncture, we are witnessing that yesterday, indices faced resistance near hourly 20 EMA. In addition, the negative crossover in daily 5 & 20 EMA and the ADX (9) indicator mentioned in our previous report are still intact. Hence, going forward the short term pessimism in the market could continue if indices sustain below yesterdays low of 18398 / 5583. In this scenario, indices may slide towards 18194 / 5515 level, which is the 50% Fibonacci Retracement level of the rise from 17250 to 19138 / 5216 to 5815 levels. On the upside, 18522 18594 / 5624 5649 levels would now act as resistance in coming trading sessions.

Actionable points:
View for the day Expected targets Resistance levels Bearish below 5583 5550 - 5515 5624 - 5649

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Daily Technical Report

November 01, 2012

Bank Nifty Outlook - (11269)

Yesterday, Bank Nifty opened on a flat note and yet again traded in a narrow range throughout the session. As expected the index consolidated after Tuesdays fall. The momentum oscillators on the daily chart continue with their sell signal. However we are witnessing a positive crossover in RSI- Smoothened oscillator on the hourly chart. Hence, we expect the index to further consolidate in the early part of todays session. On the upside 11328 11391 levels are likely to act as resistance and 11163 11125 levels are likely to act as support levels for the day. A fall below 11125 may trigger a further downside and the Index may then test the11000 mark. Actionable points:
View for the day Resistance Levels Support Levels Neutral 11328 11391 11163 - 11125

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report

November 01, 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 18,352 5,568 11,063 1,353 200 3,819 1,157 1,785 704 264 221 333 328 351 340 193 1,712 341 3,276 599 736 628 1,836 108 537 1,028 159 2,332 279 364 83 585 1,589 558 870 1,359 164 262 707 112 513 794 455 2,037 163 672 669 245 104 385 1,299 1,969 344 S1 18,429 5,594 11,166 1,366 202 3,845 1,170 1,801 715 267 223 335 332 357 343 198 1,734 345 3,294 603 749 631 1,858 112 542 1,039 161 2,348 281 376 85 595 1,608 562 877 1,398 165 265 723 113 520 800 462 2,074 167 680 682 250 105 389 1,307 1,983 347 PIVOT 18,475 5,609 11,228 1,378 203 3,877 1,178 1,810 721 270 226 338 335 361 346 201 1,758 351 3,319 608 757 633 1,876 115 546 1,047 162 2,361 283 384 86 600 1,629 567 883 1,421 166 269 733 114 525 804 472 2,094 169 685 690 253 106 392 1,312 1,996 351 R1 18,552 5,635 11,331 1,392 204 3,904 1,191 1,826 732 273 228 340 340 367 350 206 1,780 355 3,337 612 771 637 1,898 119 551 1,058 163 2,376 285 396 89 609 1,648 572 890 1,461 167 272 749 115 531 809 479 2,131 173 692 702 257 107 396 1,320 2,010 355 R2 18,598 5,650 11,393 1,404 206 3,936 1,200 1,835 738 276 231 343 343 372 353 208 1,804 362 3,361 617 779 639 1,916 121 556 1,066 164 2,390 287 404 90 615 1,670 577 896 1,484 168 276 759 115 536 813 489 2,151 176 697 710 260 108 399 1,325 2,023 358

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Daily Technical Report

November 01, 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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