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Daily Technical Report

February 01, 2013

Sensex (19895) / NIFTY (6035)


Yesterday, indices opened marginally lower as suggested by the SGX Nifty. Subsequently, indices traded with extreme choppiness on account of January month derivatives expiry; but maintained a negative bias throughout the session to close with less than half a percent intraday loss. During the session, the Realty, PSU and Consumer Durables counters showed positive momentum; whereas the Banking, Oil & Gas and IT sectors remained under pressure. The advance to decline ratio was marginally in favor of advancing counters (A=1093 D=1066) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19877 / 6022 and 19149 / 5807 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. We are also observing a Negative Divergence in the daily RSI momentum oscillator. We are observing a Hanging Man Candlestick pattern on the weekly chart. Japanese

Source: Falcon:

Actionable points:
View Bearish below 6007 5988 5940 - 5897 6070 6112

Trading strategy:
Yesterday, indices traded in a narrow range but with a clear negative bias. The daily chart now indicates a Trend Line breakdown near 19970 / 6042 level. This trend line is formed by joining the two significant lows of 19596 / 5941 (January 11, 2013) and 19884 / 6008 (January 24, 2013). Going forward, considering the placement of momentum oscillators on the daily as well as hourly chart, we are of the opinion that a fall below 19884 / 6007 level may result in a decline towards 19596 19406 / 5940 5897 levels. On the upside, 20204 / 6072 level may act as resistance for the day.

Expected Targets Resistance Levels

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Daily Technical Report


February 01, 2013

Bank Nifty Outlook - (12709)


Yesterday, for the second consecutive session Bank Nifty opened on a flat note and traded with extreme volatility on account of the PNB and ICICI Bank quarterly results. Thus, although individual stocks showed divergent moves, the Bank Nifty ultimately closed with a loss of 0.46%. We reiterate our view that the index is likely to consolidate in the range of 12500 13000 over the next few sessions. Only a decisive breakout or breakdown from the said range will dictate a clear direction of the trend. Within the mentioned range, 12680 12606 levels are likely to act as support and 12853 12907 levels are likely to act as resistance for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance levels Support Levels Neutral 12853 - 12907 12680 - 12606 Source: Falcon:

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Daily Technical Report


February 01, 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 19,780 6,006 12,586 1,307 198 4,431 1,482 1,986 816 331 216 399 319 402 344 268 1,889 331 2,902 668 773 629 1,762 112 465 1,157 164 2,752 300 412 85 674 1,524 588 877 1,554 153 332 791 108 441 874 508 2,396 179 632 694 293 99 399 1,315 1,851 402 S1 19,838 6,021 12,647 1,315 201 4,466 1,493 2,007 842 336 222 405 321 405 349 273 1,902 337 2,954 678 780 636 1,792 114 470 1,174 167 2,771 304 416 86 677 1,533 596 883 1,568 155 336 852 109 444 881 512 2,417 183 644 706 295 100 402 1,330 1,877 407 PIVOT 19,923 6,039 12,750 1,325 203 4,518 1,502 2,041 857 341 226 413 324 408 352 276 1,922 341 3,024 690 791 647 1,813 116 474 1,203 169 2,789 307 422 87 680 1,547 608 891 1,592 157 340 886 111 450 889 517 2,437 186 653 715 298 102 404 1,341 1,896 411 R1 19,981 6,053 12,811 1,334 206 4,553 1,513 2,061 883 346 232 419 327 410 356 281 1,936 347 3,076 700 798 654 1,844 118 479 1,220 172 2,808 310 426 88 684 1,556 616 898 1,606 159 344 946 112 453 895 521 2,458 189 665 727 300 103 408 1,356 1,922 416 R2 20,066 6,072 12,914 1,344 208 4,605 1,522 2,095 898 352 236 427 330 413 359 284 1,956 351 3,147 713 809 665 1,865 119 483 1,249 175 2,826 313 432 89 687 1,571 627 906 1,630 160 349 981 113 458 904 526 2,477 192 674 736 302 105 410 1,367 1,941 420

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Daily Technical Report


February 01, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@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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