Daily Technical Report

March 04, 2013

Sensex (18919) / NIFTY (5720)

On Friday, our benchmark indices opened on a flat note and traded in a narrow range to close marginally above the 5700 mark. During the day, Consumer Durables, capital Goods and Auto counters ended on a winning streak whereas Realty ended on the losing side. The advance to decline ratio was strongly in favor of declining counters (A=1336 D=1522) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19372 / 5863 and 19175 / 5813 levels, respectively. The monthly chart exhibits a Bearish Engulfing pattern. The monthly momentum oscillators are signaling a negative crossover. The level of the weekly RSI momentum oscillator has now dropped below the 50 mark. Indices have closed marginally above the Downward Sloping Trend Line, drawn by joining two significant highs of 21109 / 6339 (high of November 05, 2010 weekly candle) and 19137 / 5816 (high of October 05, 2012 weekly candle).
Source: Falcon:

Actionable points: Trading strategy:

For the sixth consecutive week, our benchmark indices have closed in the negative territory. As mentioned in our January 25, 2013 weekly report, the bearish impact of the Hanging Man (at market top) Japanese candlestick pattern is now clearly seen. Indices have now finally broken down below the 19149 / 5823 mark, which has been acting as a crucial support level. This level also coincides with the 89-day EMA and the 20-week EMA. Since the February month is over, the monthly chart now depicts a Bearish Engulfing pattern. This pattern has a bearish implication but needs a confirmation. In addition, the monthly momentum oscillators are signaling a negative crossover. Also, the weekly RSI momentum oscillator has now sneaked below the 50 mark. RSI level dropping below 50 from the upside is an additional sign of caution for the bulls.
View Expected target Resistance levels SELL BELOW 5672 5600 5740 - 5766

On the contrary, indices have now precisely closed above the support level of the Downward Sloping Trend Line (please refer exhibit 1). Hence, the impact of all the above mentioned negative technical evidences would be seen once indices sustain below this weeks low of 18793 / 5671. In this scenario, indices are likely to fall towards 18450 18255 / 5600 5548 levels. On the flipside, this weeks high of 19412 / 5879 would now act as a crucial resistance in the coming week. Only a move beyond this level may nullify the impact of negative technical evidences. With such a move the markets may rally towards 19768 - 19865 / 5991 6025 levels.

www.angelbroking.com

Daily Technical Report

March 04, 2013

Bank Nifty Outlook - (11540)

On Friday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session to close near the initial opening level. As there is no major change in the chart structure we reiterate our view that creation of fresh short positions at current level is not advisable. The momentum oscillators on the daily chart continue to be oversold territory and hence further consolidation or a relief rally in the index cannot be ruled out. For the day 11593 11810 levels are likely to act as resistance and 11392 11256 levels are likely to act as support. Traders holding short position in the index should maintain a stop loss of 11810. Actionable points:
View Resistance Levels Support levels Neutral 11593 - 11810 11392 - 11256

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

www.angelbroking.com

Daily Technical Report

March 04, 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 18,741 5,653 11,397 1,234 187 4,223 1,294 1,911 676 297 196 367 288 347 306 245 1,693 325 2,861 709 746 610 1,590 97 433 1,037 139 2,853 284 342 67 646 1,351 557 851 1,334 146 300 768 102 365 798 407 2,045 150 483 776 276 91 335 1,487 1,836 415 S1 18,830 5,687 11,468 1,251 190 4,291 1,329 1,969 692 304 199 376 290 359 310 252 1,718 328 2,918 716 762 616 1,619 98 443 1,047 143 2,883 288 350 70 650 1,376 576 869 1,379 148 307 778 105 375 804 420 2,066 152 489 788 282 94 338 1,495 1,861 418 PIVOT 18,909 5,713 11,530 1,265 192 4,338 1,354 2,006 707 315 201 382 293 365 315 265 1,745 331 2,962 723 772 623 1,643 99 450 1,057 146 2,922 293 359 71 655 1,393 587 881 1,408 149 313 792 107 381 811 431 2,088 155 500 797 288 96 343 1,505 1,890 422 R1 18,998 5,746 11,602 1,282 195 4,406 1,388 2,065 724 322 203 392 295 377 319 272 1,769 335 3,019 729 788 629 1,671 100 460 1,066 150 2,953 296 367 74 659 1,418 606 899 1,453 152 321 802 110 391 817 444 2,109 157 507 809 294 99 346 1,513 1,915 425 R2 19,077 5,773 11,664 1,297 197 4,453 1,413 2,101 739 334 206 398 298 383 323 285 1,796 338 3,064 736 799 636 1,696 101 466 1,076 153 2,992 301 375 75 664 1,435 617 911 1,482 153 327 815 112 396 824 455 2,130 160 518 819 299 102 350 1,523 1,944 429

www.angelbroking.com

Daily Technical Report

March 04, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@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 Ankur Lakhotia Head Technicals 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) 30940000

Sebi Registration No: INB 010996539

www.angelbroking.com