Daily Technical Report

January 15, 2013

Sensex (19906) / NIFTY (6024)

The week started on a slightly positive note in-line with mixed global cues. During the day, positive momentum on the back of Inflation data and the Finance Ministers decision to defer the implementation of General Anti-Avoidance Rules (GAAR) led the index to close at the highest point of the session. Undoubtedly yesterdays rally was led by the Realty and IT counters; whereas the Auto sector remained marginally under pressure. The advance to decline ratio was strongly in favor of advancing counters (A=1305 D=790) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19562 / 5942 and 18937 / 5749 levels, respectively. On the daily chart, the benchmark indices are facing resistance near the Upward Sloping Trend Line drawn by joining the highs of October 5, 2012 and December 11, 2012. The daily RSI Smoothened is negatively poised. We are also observing a Negative Divergence in the daily RSI momentum oscillator.
Source: Falcon:

Actionable points:
View Resistance Levels Neutral 6042 6070 5978 - 5940

Trading strategy:
The first day of the week was dominated by the bulls mainly on the back of few domestic events. In the process, the Sensex has closed above previous weeks high of 19857; but the Nifty is yet to cross 6042 level. Hence, going forward, a sustainable move above 19949 / 6042 may result in extended move towards 19950 20100 / 6070 6125 levels. As mentioned in our earlier reports, we reiterate that traders should consider reducing long positions and partial profit booking in individual large cap counters near to the 19950 20100 / 6070 6125 . On the flipside, last weeks low of 19596 / 5940 would now act as a key support in coming trading session.

Support Levels

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Daily Technical Report

January 15, 2013

Bank Nifty Outlook - (12759)

Yesterday, Bank Nifty opened on a flat note and gained strength as the day progressed to close near days high. We had mentioned in our previous report that the momentum oscillators on the hourly chart are placed in extreme oversold zone and a bounce in the index cannot be ruled out. We reiterate our view that the index is likely to tade in the range of 12838 to 12442 and only a breakout or breakdown from the mentioned range will dictate the direction of the short term trend. A sustainable move above 12838 will enhance buying among market participants which would lead to a further rally towards 12902 12990 levels. On the downside 12672 12644 levels are likely to act as support in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance levels Support Levels Neutral 12838 12672 12644 Source: Falcon:

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Daily Technical Report

January 15, 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 19,589 5,933 12,551 1,322 182 4,263 1,350 2,048 855 321 224 364 328 410 355 224 1,892 361 2,977 638 793 666 1,805 124 486 1,154 170 2,714 272 414 90 618 1,520 568 921 1,502 152 283 859 110 487 833 527 2,454 191 654 727 323 105 409 1,289 1,827 413 S1 19,747 5,979 12,655 1,341 186 4,314 1,368 2,071 867 325 227 369 332 413 357 235 1,902 366 3,020 655 810 667 1,824 126 495 1,169 173 2,760 275 430 93 623 1,537 574 928 1,521 153 294 882 111 491 840 543 2,477 194 659 731 325 106 417 1,312 1,847 416 PIVOT 19,848 6,008 12,714 1,356 189 4,347 1,380 2,107 875 327 229 372 337 418 360 242 1,911 369 3,043 666 822 669 1,839 127 502 1,181 175 2,799 277 440 94 628 1,548 582 938 1,549 154 301 896 113 496 847 551 2,498 196 663 736 329 107 421 1,330 1,866 420 R1 20,007 6,053 12,818 1,375 193 4,398 1,397 2,130 887 331 231 377 340 421 362 254 1,921 375 3,085 683 839 671 1,858 130 512 1,196 178 2,845 280 456 97 633 1,565 587 945 1,568 155 312 919 114 500 854 567 2,521 199 669 740 331 107 428 1,353 1,885 424 R2 20,108 6,082 12,877 1,390 195 4,430 1,409 2,166 895 334 233 381 345 425 364 261 1,930 378 3,109 693 852 672 1,873 131 518 1,208 180 2,883 282 466 99 638 1,576 595 956 1,596 155 318 932 115 505 861 576 2,543 200 673 744 335 108 432 1,371 1,905 428

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Daily Technical Report

January 15, 2013
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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