Daily Technical Report

July 15 , 2013

Exhibit 1: Nifty Daily Chart

Sensex (19958) / NIFTY (6009)

On Friday, our benchmark indices opened higher on account of better-than-expected 1QFY2014 results of IT giant, Infosys. Despite a minor corrective move, our markets managed to inch higher during the latter part of the day and as a result, indices closed almost at the highest point of the week. On the sectoral front, the IT & TECH counters dominated Fridays gains; whereas the Consumer Durables, Realty & PSU sectors ended on the losing side. The Advance to Decline ratio was in the favor of declining counters. (A=1061 D=1249) (Sourcewww.bseindia.com

Formation
The 89-day EMA and the 89-week EMA are placed at 19352 / 5854 and 18532 / 5607 levels respectively. The 20-day EMA and the 20-week EMA are placed at 19371 / 5841 and 19390 / 5866, 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 daily chart depicts a Bullish Pennant pattern breakout.

Source: Falcon:

Actionable points:
View Support Levels Resistance Level Neutral 5904 5879 6019 6088

Trading strategy:
For the first half of the week, our benchmark indices traded within the range of 19640 19147 / 5904 5760 as mentioned in our previous report. The breakout above 19640 / 5904 has now confirmed a Bullish Pennant (please refer exhibit 2) pattern. The theoretical target of this pattern also coincides with the 78.6% Fibonacci retracement level placed at 20021 / 6088 (the target is computed by adding length of the pole to the lowest point of the pennant). Considering the positive placement of weekly momentum oscillators, a test of the 20254 / 6134 levels is also possible if the indices manage to stay above 20021 / 6088. On the flipside, if indices breach Fridays low of 19785 / 5951, then we may witness a correction towards 19640 19500 / 5904 5879. These levels should ideally provide decent support for our benchmark indices. An important point to note is that the rally of the last 2 days has been led only by selective large cap counters and the broader market has shown no movement. We advise traders to adopt a stock-centric approach and avoid taking undue risks.

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Daily Technical Report

July 15, 2013

Bank Nifty Outlook - (11723)

On Friday, the Bank Nifty opened with minor upside gap and immediately slipped lower to test the hourly 20 EMA level of 11600. As expected, this technical tool provided decent support for the index and eventually, the index closed higher on the back of buying seen during the second half the day. At present, the 'Downward Sloping Trend Line' breakout witnessed on Thursday is still intact. Considering positive placement of daily RSI-Smoothened oscillator, we are of the opinion that if Bank Nifty sustains above 11753, then we are likely to witness a rally towards 12018, which is the daily 89EMA level. Conversely, Friday's low of 11589 would act as a key support in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Resistance Level Support Level

Bullish above 11753 12018 11589

Source: Falcon:

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Daily Technical Report

July 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 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 841 827 676 1,661 99 586 1,043 129 491 2,664 345 217 50 727 947 848 879 1,397 104 140 283 622 107 329 859 371 1,860 146 1,080 281 85 256 1,559 1,873 S2 19,706 5,925 11,531 1,212 192 4,732 1,260 1,830 552 293 183 333 286 385 291 171 2,216 315 S1 19,832 5,967 11,627 1,227 195 4,779 1,276 1,850 562 299 186 338 289 395 295 174 2,283 319 2,779 852 839 686 1,688 101 594 1,052 132 497 2,734 348 220 51 743 971 859 893 1,423 105 143 290 628 109 334 874 378 1,876 149 1,094 287 87 259 1,585 1,906 PIVOT 19,912 5,993 11,685 1,241 196 4,839 1,287 1,865 569 303 188 342 292 401 298 177 2,321 322 2,805 858 849 692 1,706 102 598 1,060 134 505 2,820 350 222 53 752 985 867 909 1,464 107 145 299 632 110 339 885 383 1,898 151 1,105 291 89 262 1,605 1,953 R1 20,038 6,035 11,781 1,256 199 4,887 1,303 1,885 579 309 190 347 295 411 303 180 2,387 326 2,837 869 862 702 1,733 103 606 1,069 137 511 2,890 353 225 54 768 1,010 878 923 1,489 108 148 306 638 111 344 901 391 1,915 154 1,119 296 91 265 1,630 1,987 R2 20,118 6,061 11,839 1,270 201 4,947 1,315 1,901 587 313 192 351 297 417 305 183 2,425 329 2,863 876 872 708 1,750 105 611 1,077 139 519 2,976 356 226 56 777 1,024 887 939 1,530 110 150 315 642 112 349 912 396 1,937 156 1,130 300 92 267 1,650 2,034

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Daily Technical Report

July 15, 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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