Daily Technical Report

August 26, 2013

Sensex (18519) / NIFTY (5472)

On Friday, our Benchmark indices opened on a flat note in line with global cues. During the initial hour, the index drifted slightly lower and then rallied from the lows to close with more than a percent gain. During the session, except Realty all the other sectors ended in the positive territory with the Capital goods, Banking, Oil & Gas and Consumer Durables leading the rally. The Advance to Decline ratio was strongly in favor of advancing counters. (A=1352 D=975) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19265 / 5780 and 18609 / 5616 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 18858 / 5596 and 19243 / 5772, respectively. The monthly RSI-Smoothened oscillator is negatively poised; whereas the daily momentum oscillators are contradictory and signaling a positive crossover. The Stochastic momentum oscillator on the weekly chart is extremely oversold. The weekly chart depicts a Bullish Hammer Japanese candlestick pattern. The Lower Top - Lower Bottom formation in weekly chart is still intact.

Source: Falcon:

Actionable points:
View Expected targets Support Level Bullish above 5478 5504 5600 5377

Trading strategy: This weeks price action can be aptly termed as a Tug of War, as the first half was dominated by the bears and the second half belonged to the bulls. The weekly chart now depicts a Bullish Hammer candlestick pattern. The said pattern is a reversal pattern but needs confirmation in the form of a close beyond the 5504 mark. In this scenario, we expect the ongoing relief rally to continue and the 5600 5670 levels may be tested. The momentum oscillators on the daily chart are also positively poised; but contradict the negative crossover seen in monthly RSI-Smoothened oscillator. On the flip side a breach of the 5377 mark may again trigger some selling pressure and the index may re-test this weeks low of 5254. This 5254 level remains to be a key level in the coming week and violation of this support would negate the implication of Bullish Hammer. All long bets should be squared off in this scenario and the possibility of testing 5180 / 5100 levels may then be considered.

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Daily Technical Report

August 26, 2013

Bank Nifty Outlook - (9269)

On Friday, the Bank Nifty too opened marginally higher and corrected in line with our benchmark index. A relief rally in the second half led the index to close at the highest point of the session. This was mainly on the back of extreme oversold position of momentum oscillators (daily chart) which are now signaling a positive crossover. On the weekly chart, we are now observing the formation of a Doji Japanese candlestick pattern. This pattern has formed after a significant correction and indicates the possibility of a change in trend. However the reversal pattern needs confirmation in the form of a close above 9766 level. Going forward, from a trading perspective, if Bank Nifty sustains above 9494 then we are likely to a see further bounce towards 9610 9766. On the other hand,
9361 9219 levels would act as a key support for the index.

Exhibit 2: Bank Nifty Weekly Chart

Actionable points:

Source: Falcon:

View Expected targets Support levels

Bullish above 9494 9610 - 9766 9361 9219

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Daily Technical Report

August 26, 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 18,090 5,342 9,115 956 152 410 938 1,733 445 298 104 288 301 386 261 128 2,035 293 2,226 878 708 581 1,844 99 580 802 100 352 2,963 298 228 31 615 713 756 772 1,236 111 125 258 468 96 358 801 330 1,518 142 482 289 72 265 1,764 1,520 S1 18,305 5,407 9,293 973 156 415 960 1,756 458 304 110 294 306 391 266 132 2,077 299 2,262 912 725 594 1,872 101 591 828 102 361 2,982 303 234 33 629 726 773 793 1,265 114 127 267 475 97 371 810 344 1,539 148 495 295 75 274 1,797 1,550 PIVOT 18,426 5,443 9,393 990 158 420 975 1,777 466 309 114 299 310 398 269 140 2,105 303 2,291 933 736 602 1,899 103 598 847 103 368 3,001 306 239 34 638 734 786 806 1,294 117 130 274 485 98 384 818 353 1,563 153 503 300 77 279 1,817 1,595 R1 18,640 5,508 9,571 1,007 162 426 997 1,800 479 314 120 306 314 403 273 145 2,147 309 2,326 967 752 615 1,927 106 608 872 105 377 3,020 312 246 35 652 748 803 827 1,323 119 132 283 492 98 397 827 366 1,583 159 516 306 80 288 1,850 1,625 R2 18,761 5,544 9,671 1,025 164 431 1,013 1,820 488 319 123 310 318 409 277 152 2,174 314 2,355 987 764 623 1,954 108 615 891 106 383 3,039 315 251 36 661 756 816 841 1,352 122 135 289 503 99 410 834 375 1,607 164 524 310 81 293 1,871 1,670

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Daily Technical Report

August 26, 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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