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Daily Technical Report

July 05 , 2013

Sensex (19411) / NIFTY (5837)


Yesterday our benchmark indices opened marginally higher in line with global markets. We witnessed significant volatility throughout the second half of the trading session as the markets hit days low and then the days high within just over an hour. FMCG, IT and Pharmaceutical counters rallied in yesterdays session while the metal counters remained under pressure. The advance to decline ratio was marginally in the favor of advancing counters. (A=1194 D=1088) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-Week EMA are placed at 19325 / 5849 and 18498/ 5597 levels, respectively. The 20-Day EMA and the 20-Week EMA are placed at 19216/ 5798 and 19322 / 5848, respectively. The 50% and 61.8% Fibonacci retracement levels of the fall from 20444 / 6229 to 18467/ 5566 are placed at 19455/ 5898 and 19689 / 5976, respectively. The weekly chart now depicts a Bullish Engulfing but the monthly chart shows a 'Bearish Engulfing" Japanese candlestick pattern.
Source: Falcon:

Actionable points:
View Resistance Level Support Levels Neutral 5850 - 5898 5786 5760

Trading strategy:
Yesterday markets opened higher and significant volatility was seen during the session. The indices have now tested the 89 day EMA and the Nifty has closed just below that moving average. The gap area formed on 3rd July in the range of 18926 to 19093 / 5699 to 5749 has now nearly been filled. Going forward, we are of the opinion that if indices sustain above yesterdays high of 19445 / 5749, then they are likely to move towards the next resistance level of 19598 / 5898. On the flip side, both the hourly chart and the daily chart indicate an overbought level on the stochastic oscillator. As a result any gap up opening in todays session may lead to profit booking at higher levels. Traders are advised adopt a stock specific approach and stay light on positions in the Index futures, considering the significant volatility in yesterdays session. A fall below yesterdays low of 19245 / 5786 will confirm the beginning of a lower top lower bottom trend on the hourly chart and may lead to strong selling pressure.

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Daily Technical Report


July 05, 2013

Bank Nifty Outlook - (11381)


Yesterday, while the benchmark indices closed with substantial gains the Bank Nifty the Bank Nifty remained muted for the session. There is no significant change in the chart structure of this index and thus we reiterate our view that below the support level of 11300 would augment the pessimism in the index. As a result, it may test lower levels of 11277 / 11164. On the positive front, the positive crossover seen in daily RSI-Smoothened oscillator is still intact. Hence, any sustainable move beyond the high of 11506 would attract buying interest among market participants. In this case, it may move higher to test 11590.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Support Levels Resistance Levels

Neutral 11300 11277 11506 11590 Source: Falcon:

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Daily Technical Report


July 05, 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 19,167 5,762 11,189 1,192 184 4,478 1,238 1,844 521 289 168 344 288 387 293 168 2,178 318 2,737 753 839 641 1,626 97 575 1,036 118 459 2,399 322 208 49 685 1,369 821 966 1,512 98 141 300 591 105 324 837 332 1,848 138 926 278 82 257 1,472 1,891 S1 19,289 5,799 11,285 1,214 187 4,522 1,252 1,860 534 295 171 355 291 391 296 173 2,201 326 2,767 777 845 648 1,641 98 588 1,050 121 466 2,434 330 212 51 692 1,385 836 974 1,535 99 143 304 606 106 330 849 346 1,874 140 978 285 84 261 1,505 1,899 PIVOT 19,367 5,824 11,370 1,230 189 4,571 1,272 1,877 548 299 176 368 293 396 299 178 2,225 331 2,796 789 857 653 1,660 100 597 1,060 124 475 2,454 335 216 52 702 1,408 845 981 1,556 101 145 310 619 108 337 860 359 1,899 142 1,047 289 85 267 1,523 1,912 R1 19,489 5,861 11,466 1,252 191 4,614 1,286 1,894 561 305 180 379 296 400 303 184 2,247 339 2,826 812 863 660 1,675 101 610 1,074 127 482 2,489 344 221 54 709 1,425 860 989 1,579 103 146 314 633 109 343 872 373 1,925 144 1,100 297 87 271 1,556 1,920 R2 19,567 5,886 11,550 1,268 194 4,664 1,306 1,910 575 310 185 391 298 406 306 188 2,271 344 2,855 825 874 665 1,694 102 619 1,084 129 492 2,510 348 225 55 718 1,448 869 997 1,600 104 148 320 646 111 351 883 386 1,950 147 1,169 301 88 277 1,574 1,933

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Daily Technical Report


July 05, 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 Head Technicals Technical Analyst Technical Analyst

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