Daily Technical Report

August 06, 2013

Sensex (19164) / NIFTY (5678)

The week began on a subdued note considering quiet trading mood across the globe. After the carnage last week, the bulls tried to stage a pullback rally during the first half of the session but selling pressure near the 5 day EMA dragged indices back to the opening level. The Capital Goods, Power and Consumer Durables counters remained under pressure throughout the day; whereas the Metal, Banking and IT sectors defended our market. The Advance to Decline ratio was marginally in favor of declining counters. (A=1048 D=1157) (Sourcewww.bseindia.com )

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19465/ 5863 and 18620 / 5625 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19562 / 5840 and 19432 / 5846, respectively. The weekly Stochastic and Monthly RSI-Smoothened oscillators are signaling a negative crossover; but the daily Stochastic oscillator is contradictory by showing positive crossover. The daily chart depicts a Triangular price pattern and also, we are observing an Upward Sloping Trend Line on the weekly chart.

Source: Falcon:

Actionable points:
View Resistance Levels Neutral 5720 - 5808 5649 - 5570

Trading strategy: In our previous report, we had mentioned that the Nifty is hovering near the strong support zone of the 78.6% Fibonacci retracement level of the recent up. Yesterday, it was the fourth consecutive session where the Nifty traded and closed around this support zone. At present, the daily chart depicts a long Legged Doji Japanese candlestick pattern. An occurrence of such pattern near strong support zone indicates probability of a halt in the current trend and chances of a near term bounce. However, the said pattern will be confirmed only above the high of 5721. In this case, we may expect a bounce towards 5808 5865 in the near term. On the flipside, 5649 remains to be a key support in coming trading session. Any fall and close below this level would negate the bullish candlestick patterns and will signal further declines towards the 5570 5530 levels.

Support Levels

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Daily Technical Report

August 06, 2013

Bank Nifty Outlook - (10095)

Yesterday, the Bank Nifty too opened on a flat note in-line with our benchmark indices. Subsequently, we witnessed massive selling pressure immediately during the first hour, which dragged the index lower by more than one and half percent. However, a strong intraday bounce in some of the Banking heavyweights pushed the index higher to close well above the 10000 mark. On the daily chart, we are now observing a Bullish Hammer Japanese candlestick pattern. This pattern also suggests exhaustion in the current down trend and opens up the possibility of recovery in the near term. However, this pattern will be confirmed only if Bank Nifty stays above yesterdays high of 10118 in this scenario, we may expect a bounce towards 10220 10450. In addition, the daily RSI momentum oscillator is also on the verge of giving a positive crossover. On the flipside, yesterdays low of 9818 would act as a key support for the index. Traders should note that a close below yesterdays low will negate all bullish prospects.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Expected Targets Support Level

Bullish above 10118 10220 10450 9818 Source: Falcon:

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Daily Technical Report

August 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 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 19,045 5,630 9,711 1,153 168 449 1,054 1,837 458 328 107 269 282 386 238 121 2,163 294 2,441 924 771 607 1,760 84 608 852 100 368 2,982 327 178 27 631 793 873 843 1,316 94 128 268 492 85 263 846 301 1,639 119 534 266 80 194 1,824 1,746 S1 19,114 5,658 9,903 1,170 173 461 1,089 1,857 481 332 114 275 286 391 251 125 2,186 299 2,493 937 785 620 1,807 85 613 877 103 380 2,995 331 190 29 646 803 884 854 1,330 97 131 272 515 89 271 854 313 1,661 125 542 275 82 201 1,846 1,760 PIVOT 19,210 5,689 10,010 1,188 176 481 1,109 1,888 494 339 127 286 292 396 261 129 2,225 304 2,527 949 801 628 1,833 86 621 893 105 391 3,010 336 197 31 656 821 894 867 1,346 98 134 277 529 92 279 863 320 1,677 128 553 289 84 205 1,862 1,778 R1 19,279 5,717 10,202 1,205 181 493 1,144 1,908 517 344 133 292 297 401 273 133 2,249 309 2,579 962 815 640 1,881 88 626 919 108 402 3,024 340 209 33 671 831 905 878 1,360 101 138 281 551 96 287 871 331 1,699 133 561 298 86 212 1,883 1,791 R2 19,375 5,749 10,310 1,223 185 512 1,164 1,939 531 351 146 303 302 406 283 136 2,288 313 2,613 974 831 648 1,907 89 633 935 111 413 3,039 345 216 35 681 848 914 891 1,376 102 140 286 566 99 295 881 338 1,716 136 572 311 87 216 1,899 1,809

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Daily Technical Report

August 06, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@angelbroking.com Website: www.angelbroking.com

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

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