Daily Technical Report

July 11 , 2013

Sensex (19294) / NIFTY (5817)

Yesterday, once again indices opened marginally higher as suggested by the SGX Nifty early in the morning. Indices then slipped into a consolidation mode and traded with very lackluster movement throughout the first half. However, during the latter part of the session, markets corrected sharply to close inside the negative territory. The Oil & Gas, Realty and Auto counters remained under pressure; whereas the Consumer Durables and IT sectors outperformed our benchmark indices. The advance to decline ratio was neutral during yesterdays session. (A=1131 D=1183) (Source www.bseindia.com).

Exhibit 1: Nifty Hourly Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19330 / 5849 and 18517 / 5603 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19271/ 5811 and 19326 / 5848, respectively. The weekly RSI and Stochastic oscillators are positively poised. The 61.8% and 78.60% Fibonacci retracement levels of the fall from 20444 / 6229 to 18467/ 5566 are placed at 19689 / 5976 and 20021 / 6088, respectively. The weekly chart now depicts a Bullish Engulfing pattern but the monthly chart shows a 'Bearish Engulfing" Japanese candlestick pattern.

Source: Falcon:

Actionable points:
View Support Levels Resistance Level Neutral 5802 5760 5904

Trading strategy:
Our benchmark indices came off sharply during the second half to close with more than half a percent loss. In our previous report, we had mentioned a Channel pattern seen in the hourly chart, which is still intact. Indices are now trading near the hourly 89 EMA, which is considered as a decent support. Hence, a breach of yesterdays low (19237 / 5802) would lead to an intraday correction towards the 19147 / 5760. However, considering slightly broader perspective, only a sustainable move below 19147 / 5760 would trigger immense pessimism in our market. On the upside, 19640 / 5904 remains to be an important resistance level for our market. A close beyond this level will result in a breakout from a trading range and markets may head higher to test 19711 / 5972 levels.

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Daily Technical Report

July 11, 2013

Bank Nifty Outlook - (11364)

Yesterday, the Bank Nifty too opened higher in-line with our benchmark indices and then traded sideways for the entire first half. A sharp correction during the last couple of hours resulted in closing almost at the lowest point of the day. The charts of this Index are weak and the prices continue to remain below the 20 day EMA placed at 11567. For the coming trading session, we are mentioning a trading range of 11567 to 11317. A sustainable move below the lower end of the range would pull the index towards its next support level of 11176. On the flipside, 11567 would act as important supply zone for Bank Nifty in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Level Support Level

Neutral 11567 - 11590 11317 - 11176 Source: Falcon:

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Daily Technical Report

July 11, 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 813 816 647 1,628 95 585 1,026 126 477 2,478 340 210 52 708 1,386 826 882 1,521 102 138 289 608 106 340 817 364 1,830 138 1,051 277 85 250 1,483 1,886 S2 19,078 5,756 11,184 1,237 190 4,722 1,231 1,799 534 286 180 326 280 394 286 169 2,217 311 S1 19,186 5,787 11,274 1,243 192 4,752 1,244 1,831 543 288 182 331 283 397 288 171 2,239 313 2,761 826 822 653 1,640 97 590 1,032 127 487 2,489 343 214 53 717 1,400 844 897 1,532 103 140 292 615 107 343 837 370 1,853 140 1,066 280 86 253 1,498 1,920 PIVOT 19,346 5,833 11,408 1,252 194 4,801 1,263 1,874 559 291 185 338 288 401 290 175 2,268 315 2,792 835 828 662 1,652 99 596 1,041 128 500 2,505 346 218 54 727 1,420 855 923 1,541 104 142 298 627 109 347 858 377 1,888 142 1,081 284 86 258 1,512 1,947 R1 19,454 5,863 11,498 1,258 196 4,831 1,276 1,906 569 293 187 343 291 404 292 178 2,290 317 2,813 848 834 669 1,664 101 601 1,047 129 509 2,516 349 222 54 736 1,434 872 938 1,552 106 143 302 634 110 350 878 383 1,912 144 1,097 288 87 261 1,527 1,981 R2 19,614 5,909 11,631 1,266 198 4,879 1,294 1,949 585 296 190 350 295 408 294 181 2,319 320 2,844 857 840 678 1,676 103 608 1,056 131 523 2,532 352 226 55 746 1,453 883 964 1,561 107 145 308 646 112 355 899 391 1,947 147 1,112 292 88 266 1,541 2,009

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Daily Technical Report

July 11, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@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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