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Daily Technical Report

May 28, 2013

Sensex (20031) / NIFTY (6083)


The opening session of the week began on a subdued note in-line with quiet global cues. Indices moved higher during the initial hour of the session; but then slipped into a consolidation mode for most part of the day. However, a sharp rally in the last hour led indices to close well inside the positive territory. For the day all the sectors ended in the green amongst which Consumer Durables, Oil & Gas and Metal counters were among the major gainers. The advance to decline ratio was strongly in favor of advancing counters. (A=1364 D=981) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19398/ 5884 and 19825/ 6023 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19369/ 5873 and 18997 / 5760, respectively. The weekly RSI momentum oscillator and the daily ADX (9) indicator are negatively poised. We are observing a Bearish Engulfing Japanese candlestick pattern on weekly chart.

Source: Falcon:

Trading strategy:
The week has begun on an optimistic note considering strong intraday rally of nearly one and half percent. During the session, indices convincingly managed to traverse the hourly 20 EMA and the 89 EMA. As a result, strong positive momentum was seen during the last hour of the session. Going forward, the hourly 89 EMA and 20 EMA level of 19925 / 6055 and 19875 / 6035, respectively, would act as a key levels for the indices. At present, both indices are hovering around the 50% Fibonacci retracement level of the fall from 20444 / 6230 to 19569 / 5936. Thus, a sustainable move beyond yesterdays high of 20084 / 6100 would push indices higher to test next resistance levels of 20110 20155 / 6116 6146. On the flip side, weakness would be seen only below the 19819 / 6012 level.

Actionable points:
View Resistance levels Support Levels Neutral 6100 6116 6035 6012

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Daily Technical Report


May 28, 2013

Bank Nifty Outlook - (12962)


On Friday, Bank Nifty opened on a flat note in line with our benchmark indices and traded in a narrow range for the major part of the session. However, an uptick in the final hour of trade led the index to close well inside the positive territory. In the process the index has confirmed the Bullish Harami candlestick pattern mentioned in our previous report. However, the Bearish Engulfing pattern on the weekly chart is still very much intact. Thus, going forward we believe that the trading environment will remain challenging as the daily and weekly chart depict contradictory patterns. For the day 13097 13124 are likely to act as resistance levels whereas 12795 12715 levels may act as support. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 13097 13124 12795 - 12715 Source: Falcon:

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Daily Technical Report


May 28, 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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 19,526 5,929 12,624 1,198 182 4,743 1,427 1,728 671 296 189 368 277 394 312 207 2,046 316 2,880 724 887 692 1,590 104 582 1,183 151 485 2,307 328 290 66 760 1,429 734 930 1,615 115 150 317 770 108 377 789 371 2,128 155 937 281 90 308 1,446 1,909 S1 19,778 6,006 12,793 1,222 184 4,785 1,453 1,773 676 302 193 373 282 398 313 211 2,068 320 2,936 733 908 703 1,622 108 587 1,201 154 507 2,340 331 298 68 775 1,448 747 941 1,632 117 151 322 787 110 391 809 378 2,145 160 975 288 91 312 1,472 1,962 PIVOT 19,931 6,053 12,904 1,235 185 4,812 1,470 1,798 684 307 195 381 285 403 314 214 2,085 323 2,967 741 920 710 1,646 110 590 1,213 156 519 2,363 333 303 69 784 1,461 760 954 1,651 118 152 325 797 111 400 821 382 2,164 162 1,001 292 92 316 1,486 1,993 R1 20,183 6,130 13,073 1,259 187 4,854 1,496 1,843 690 313 199 385 289 407 315 218 2,108 327 3,023 750 941 722 1,678 113 594 1,231 159 542 2,396 336 312 70 799 1,480 772 965 1,668 119 153 330 814 114 414 840 390 2,181 167 1,039 299 92 320 1,512 2,045 R2 20,336 6,177 13,183 1,272 188 4,882 1,513 1,868 697 318 201 393 292 413 316 221 2,125 330 3,054 758 953 729 1,702 115 597 1,243 161 554 2,419 338 317 71 809 1,493 785 978 1,687 120 154 334 824 115 423 853 394 2,201 169 1,065 303 93 323 1,526 2,077

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Daily Technical Report


May 28, 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 Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

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