Daily Technical Report

June 29, 2012

Sensex (16991) / NIFTY (5149)

Yet another trading session of the week opened on a flat note and despite being a derivative expiry session, we witnessed an extremely range bound trading session. Eventually, markets closed near the 5150 mark. On sectoral front, FMCG, Power and PSU stayed firm during yesterdays session; whereas Oil & Gas and Banking sectors ended with a nominal loss. The advance to decline ratio was marginally in favor of advancing counters (A=1461 D=1312) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16803 / 5075 and 16691 / 5061, respectively. The 20-Week EMA is placed at 16854 / 5108 level. On the daily chart, indices are trading well above the upper range of Downward Sloping Channel drawn by joining two highs of February 22, 2012 April 19, 2012 and low of March 7, 2012. The positive crossover in weekly RSI momentum oscillator and weekly 3 & 8 EMA is still intact. Also, the weekly RSI-Smoothened is now positively poised.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Target Support Levels

Bullish Above 5165 5190- 5225 - 5280 5125 - 5093

Trading strategy: Yesterday, even on a derivative expiry session, we witnessed lackluster activity and our benchmark indices are still in the trading range of 16800 17131 / 5090 5195. Hence, our view remains unchanged. Only a sustainable move outside this trading range would dictate a clear direction of the trend. Within the range, on the upside 17030 17131 / 5160 - 5195 levels are likely to act as immediate intraday resistance in coming trading session. However, the crucial support remains at 16799 / 5093. A sustainable move below this level may reinforce selling pressure and indices may then correct towards 16553 16636 / 5041 5015 levels.

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Daily Technical Report

June 29, 2012

Bank Nifty Outlook - (10004)

Yesterday, Bank Nifty opened on a flat note in line with our benchmark indices and traded in a narrow range throughout the session. There is no significant change in the chart formation for Bank Nifty as the range of 9760 10230 is still intact. Only a sustainable move outside the said range will dictate a clear direction of the trend. For the second consecutive we are witnessing a narrow range body formation, which indicates indecisiveness prevailing at current levels. Within the mentioned range 10055 10110 are likely to act as resistance and 9900 9870 levels are likely to act as support, in coming trading session. Positional traders holding long positions can hold with a stop loss of 9800 level (Closing basis) on Bank Nifty spot. Actionable points:
View Resistance Levels Support Levels Neutral 10055 - 10110 9900 - 9870

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

June 29, 2012 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 INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,866 5,111 9,900 1,194 167 3,689 956 1,532 709 300 218 734 323 304 339 190 1,589 332 2,527 446 638 539 2,016 112 447 842 130 2,424 245 425 69 563 1,323 676 1,099 153 274 778 108 481 710 518 87 2,049 178 700 95 606 229 97 416 1,225 395 S1 16,928 5,130 9,952 1,209 170 3,719 967 1,541 715 302 219 743 325 306 344 192 1,600 339 2,551 453 641 544 2,052 114 449 850 131 2,449 248 429 70 570 1,333 684 1,110 156 276 783 109 484 715 527 88 2,073 182 708 96 611 235 98 422 1,242 397 PIVOT 16,981 5,145 10,002 1,218 173 3,768 979 1,554 720 304 221 750 327 308 346 194 1,611 348 2,575 462 645 548 2,075 116 452 860 133 2,473 250 432 71 575 1,347 693 1,121 157 278 787 110 488 721 538 88 2,099 188 715 99 618 238 99 427 1,253 398 R1 17,043 5,164 10,054 1,233 176 3,798 990 1,563 726 306 223 759 329 310 351 196 1,622 355 2,599 468 649 553 2,111 117 454 867 134 2,497 254 436 72 581 1,358 700 1,132 159 280 792 111 492 726 547 89 2,124 192 722 100 623 244 100 433 1,270 400 R2 17,096 5,178 10,104 1,243 179 3,847 1,002 1,576 731 309 225 766 331 312 353 198 1,633 365 2,623 477 653 558 2,134 120 457 877 136 2,522 256 439 73 586 1,372 709 1,143 160 281 796 112 496 733 557 90 2,149 198 729 103 630 248 100 438 1,281 402

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Daily Technical Report

June 29, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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