Daily Technical Report

June 07, 2013

Sensex (19519) / NIFTY (5921)

Yesterday, our benchmark indices opened with a downside gap on the back of overnight negative developments in US and European bourses. As a result, indices immediately slipped below yesterdays low but found a decent support around 5850. Post the initial hour of the session, indices managed to recover from their early losses and eventually closed on a flat note. During the session, the Banking and the Realty counters defended our benchmark indices; whereas the Health care and the Auto sectors remained under pressure throughout the session. The advance to decline ratio was marginally in favor of declining counters. (A=1140 D=1226) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19410/ 5874 and 19790/ 6000 levels, respectively.
Source: Falcon:

The 89-day EMA and the 200-day SMA are placed at 19443 / 5895 and 19086 / 5788, respectively. The current daily candle resembles a Spinning Top Japanese candlestick pattern.

Actionable points:
View Support Levels Resistance levels Neutral 5869 5850 5957 5982

Trading strategy:
Despite a strong negative closing from US and European bourses, our benchmark indices managed to briefly pull back into the green in yesterdays session. Yesterdays low of 19395 / 5869 is marginally above the 50% Fibonacci retracement level (19294 / 5853) of the rise from 18144 to 20444 / 5477 to 6230. We have been observing that indices are reluctant to give a daily close below the mentioned Downward Sloping Trend Line and the daily 89 EMA. This support zone is seen around 19443 / 5895. Hence, we continue to reiterate our view that the possibility of testing further downside levels would open up only if indices close below 19443 / 5895. In that case, indices may slide towards 19360 / 5850 level. The latest daily candle resembles a Spinning Top Japanese candlestick pattern. An occurrence of such pattern near the support indicates uncertainty among market participants. Going forward any sustainable move beyond yesterdays high of 19636 / 5957 may push indices higher to test 19743 19790 / 5982 6000 levels. We advise traders to adopt a stock specific approach and follow strict stop losses.

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Daily Technical Report

June 07, 2013

Bank Nifty Outlook - (12398)

Yesterday the Bank Nifty opened with half a percent downside gap but yet again managed to bounce back after trading marginally below the 89 EMA. We are observing that the daily Stochastic oscillator is now signaling a positive crossover. Hence, considering hourly chart price action, we are of the opinion that if Bank Nifty sustains above yesterdays high of 12475, then we may witness an intraday rally towards 12600. This level coincides with the daily 20 EMA and the hourly 89 EMA. On the flipside, yesterdays low of 12184 would act as a key support in the coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Support Level Resistance Levels

Neutral 12184 12475 - 12600

Source: Falcon:

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Daily Technical Report

June 07, 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 19,277 5,829 12,062 1,171 166 4,574 1,345 1,724 644 287 189 367 282 370 315 191 2,101 303 2,716 711 820 672 1,623 99 588 1,107 142 498 2,395 327 280 65 753 1,391 739 961 1,530 113 149 318 749 111 370 779 358 1,980 154 1,000 301 87 291 1,441 1,798 S1 19,398 5,875 12,230 1,190 170 4,597 1,382 1,735 660 291 191 370 285 373 319 197 2,119 307 2,746 729 832 677 1,635 101 590 1,131 145 504 2,412 331 282 66 764 1,411 746 976 1,558 114 150 321 762 112 375 785 370 2,015 155 1,009 304 88 293 1,456 1,846 PIVOT 19,517 5,916 12,353 1,205 174 4,628 1,405 1,745 671 297 193 372 287 377 322 201 2,140 310 2,773 739 846 683 1,647 102 590 1,147 148 510 2,433 334 285 67 771 1,428 756 987 1,579 115 151 323 770 112 379 795 377 2,041 157 1,022 307 88 295 1,467 1,876 R1 19,638 5,962 12,521 1,223 178 4,651 1,441 1,756 686 301 195 375 290 379 326 206 2,158 314 2,803 758 859 688 1,658 104 592 1,171 151 515 2,451 338 288 68 782 1,448 763 1,003 1,607 117 153 326 783 113 383 801 390 2,075 159 1,030 310 89 297 1,482 1,924 R2 19,757 6,003 12,644 1,239 182 4,683 1,464 1,766 697 307 197 378 292 383 330 210 2,178 317 2,830 768 872 695 1,670 106 593 1,187 153 521 2,472 341 291 68 789 1,465 773 1,014 1,627 118 154 328 792 113 387 810 397 2,101 161 1,043 313 89 299 1,494 1,954

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Daily Technical Report

June 07, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@angelbroking.com Website: www.angelbroking.com

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Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Head Technicals Technical Analyst Technical Analyst

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