Daily Technical Report

February 06, 2013

Sensex (19660) / NIFTY (5957)

Yesterday, our benchmark indices opened gap down in line with global markets. Subsequently, indices oscillated within the narrow range of less than half a percent. However the bias was negative throughout the session. Apart from Healthcare counters, all the sectoral indices ended in red. The Consumer Durables, FMCG and Power sectors were the biggest losers for the day. The advance to decline ratio was strongly in favor of declining counters (A=819 D=1417) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19839 / 6011 and 19178 / 5819 levels, respectively. On the daily chart, the benchmark indices are facing resistance near the Upward Sloping Trend Line drawn by joining the highs of October 5, 2012 and January 18, 2012. The weekly RSI momentum oscillator as well as the Daily ADX (9) indicator are now signaling a negative crossover. The Hanging Man Japanese Candlestick pattern on the weekly chart has been confirmed.

Source: Falcon:

Actionable points:
View Expected Target Resistance Levels Bearish Below 5940 5897 5970 - 6039

Trading strategy:
As expected, yesterday we witnessed a gap down opening on the back of negative cues from US and European bourses. In the process, indices missed our initial target of 19596 / 5940 by a whisker. For the coming trading session, 19596 / 5940 would act as an important support level for the market. Any sustainable move below this level would augment existing negative momentum. In this case, our indices may slide towards their next support level of 19406 / 5897. On the flipside, 19717 / 5970 19903 / 6039 levels would act as resistance in coming trading session.

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Daily Technical Report

February 06, 2013

Bank Nifty Outlook - (12467)

Yesterday, in line with our benchmark indices Bank Nifty too opened with a downside gap and traded in a narrow range throughout the session and closed below the support level of 12500. The Trend line Break down mentioned in our previous report was followed by the negative crossover of 5&20 day EMA during yesterdays trading session. Hence, we reiterate our view that the index may test the lower levels of 12265 12140 if it sustains below yesterdays low of 12415. However, due to oversold condition of momentum oscillators on hourly charts, a possibility of consolidation or a minor pullback from current levels cannot be ruled out. It would be important to note that the primary bias remains negative. On the upside, 12502 12633 levels, could act as resistance in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Resistance Levels Bearish Below 12415 12265 12140 12502 - 12633 Source: Falcon:

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Daily Technical Report

February 06, 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 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 19,584 5,935 12,375 1,271 188 4,582 1,432 2,024 764 317 208 400 318 395 341 262 1,885 337 2,909 661 787 632 1,764 110 455 1,152 154 2,724 299 406 73 666 1,513 583 868 1,580 152 321 863 108 424 865 503 2,308 174 622 723 282 96 388 1,337 1,853 401 S1 19,622 5,946 12,421 1,297 195 4,610 1,445 2,059 773 321 210 406 319 401 345 267 1,892 341 2,960 666 792 638 1,778 112 458 1,159 156 2,740 301 410 74 673 1,524 589 878 1,590 154 323 872 109 432 870 510 2,340 176 629 736 284 97 392 1,348 1,889 404 PIVOT 19,670 5,958 12,461 1,312 199 4,644 1,467 2,084 785 327 213 413 321 405 349 271 1,902 344 2,987 674 797 643 1,795 113 463 1,169 157 2,761 304 413 77 678 1,532 594 885 1,600 156 326 880 110 437 878 516 2,360 178 634 744 288 99 395 1,357 1,911 406 R1 19,707 5,969 12,508 1,339 206 4,672 1,481 2,120 794 331 214 419 323 411 353 277 1,910 348 3,038 679 802 649 1,809 115 466 1,176 159 2,777 305 417 78 685 1,542 600 894 1,611 157 328 888 111 445 883 523 2,392 179 641 757 291 101 398 1,368 1,947 409 R2 19,755 5,982 12,548 1,354 211 4,705 1,502 2,144 807 337 217 426 325 415 357 281 1,920 350 3,066 687 806 653 1,826 116 471 1,186 161 2,798 308 421 81 690 1,551 605 901 1,621 159 330 897 112 450 891 529 2,413 181 647 765 294 103 401 1,377 1,969 411

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Daily Technical Report

February 06, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@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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