Daily Technical Report

December 21, 2012

Sensex (19454) / NIFTY (5916)

Yesterday, our benchmark indices opened on flat note and witnessed a mild correction during the first half. However, a recovery in the second half led the indices to close firmly above 5900 mark. The Gujarat and Himachal Pradesh assembly elections results had no significant impact on the market sentiments. During the session, Consumer Durables, Auto and Capital Goods sectors remained under pressure. However, the Metal, Teck and IT counters ended with minor gains. The advance to decline ratio was strongly in favor of declining counters (A=1312 D=1578) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19209 / 5844 and 18573 / 5642 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing highs of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level. The 38.20% and 50% Fibonacci retracement levels of the rise from 18255 / 5548 (low on November 20, 2012) to 19612 / 5965 (high on December 11, 2012) are at 19100 18930 / 5806 5755, respectively.

Source: Falcon:

Trading strategy:
Looking at the price action of previous two trading sessions, it can be construed that our markets are struggling for direction at this juncture. Yesterdays price pattern on the daily chart suggests indecisiveness prevailing at current levels. Also, the momentum oscillators on the daily and hourly chart are portraying a mix picture. Hence we reiterate our view that 19612 / 5965 level remains to be a key resistance for the bulls. On the flipside, a breach of yesterdays low of 19336 / 5881 would trigger intraday pessimism in the market. In this scenario, indices may test the next support level of 19149 / 5823.

Actionable points:
View for the day Resistance Level Support Levels Neutral 5965 5881 - 5823

www.angelbroking.com

Daily Technical Report

December 21, 2012

Bank Nifty Outlook - (12487)

Yesterday, Bank Nifty opened on a flat note and traded with extreme volatility throughout the session. We are now witnessing a minor negative divergence in momentum oscillator RSI on the daily chart. Thus we reiterate our view that the Bank Nifty is likely to undergo further consolidation in the range of 12570 12197. Going forward yesterdays low of 12385 is a key support level for intraday traders. A sustainable move below this level may lead the index to drift lower towards 12306 12277 level. On the other hand, a move above 12570 level will attract buying interest among the market participants. In this scenario the index is likely to test 12700 level.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View for the day Resistance Levels Support Levels Neutral 12570 12385 - 12306 Source: Falcon:

www.angelbroking.com

Daily Technical Report

December 21, 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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,252 5,856 12,333 1,387 200 4,363 1,289 2,071 836 306 227 340 312 414 349 217 1,826 346 3,179 629 818 677 1,862 125 516 1,123 173 2,264 284 450 99 653 1,591 605 935 1,500 152 262 832 115 507 824 513 2,318 189 662 724 299 105 409 1,217 1,985 372 S1 19,353 5,886 12,410 1,395 203 4,404 1,304 2,092 848 311 229 345 316 419 353 222 1,836 349 3,203 634 824 680 1,886 129 524 1,132 174 2,282 285 460 100 657 1,604 610 944 1,510 153 263 841 115 510 831 518 2,350 194 666 736 302 107 420 1,234 1,999 377 PIVOT 19,437 5,912 12,462 1,405 207 4,451 1,322 2,118 856 315 231 352 321 424 357 225 1,848 351 3,226 641 830 684 1,910 131 529 1,138 175 2,296 288 468 102 663 1,624 616 957 1,520 154 265 850 116 514 836 522 2,374 198 670 756 306 107 427 1,245 2,014 384 R1 19,538 5,942 12,539 1,413 210 4,491 1,337 2,139 868 320 234 357 325 430 360 229 1,858 354 3,251 646 837 687 1,934 135 538 1,146 177 2,314 289 478 103 667 1,637 621 967 1,530 155 267 860 117 517 843 527 2,406 203 673 767 309 109 438 1,262 2,028 389 R2 19,622 5,968 12,592 1,424 214 4,538 1,355 2,166 876 324 235 364 331 435 364 232 1,870 356 3,273 653 843 690 1,957 138 543 1,153 178 2,328 292 485 105 673 1,656 627 980 1,540 156 268 868 117 521 849 531 2,430 207 677 787 312 109 445 1,273 2,044 396

www.angelbroking.com

Daily Technical Report

December 21, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

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

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600

Sebi Registration No: INB 010996539

www.angelbroking.com 4