Daily Technical Report

August 08, 2013

Sensex (18665) / NIFTY (5519)

Yesterday, we witnessed a flat opening in our market considering mixed global cues. During the first half the Nifty slipped below the 5500 mark but eventually bounced back post the midsession. However, once again indices experienced strong selling pressure towards the fag end to close in the negative territory. Realty and Metal counters were outperformers in yesterdays session whereas the IT, Auto and FMCG sectors remained under pressure. After quite a few days of pain, the Advance to Decline ratio was marginally in favor of advancing counters. (A=1248 D=1044) (Sourcewww.bseindia.com )

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19432/ 5848 and 18608 / 5621 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19405 / 5784 and 19383 / 5830, respectively. The weekly Stochastic and Monthly RSI-Smoothened oscillators are signaling a negative crossover; but the daily Stochastic oscillator is extremely oversold. 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 Expected Targets Support Levels Bullish above 5562 5607 - 5664 5477

Trading strategy: Tuesdays massive intraday correction was followed by a subdued opening. However, the bears made an early attempt to resume its downtrend during the initial hour. As a result, the Nifty slipped below the psychological level of 5500 and tested the mentioned support level of 5477. A modest bounce in some of the heavyweights pushed the Nifty above the 5500 mark. Since, there is no major change in the chart structure; we continue to mention the support level of 5477. Only a sustainable move below this level may result in an extended down move towards 5400 5380 levels. On the flipside, the momentum oscillators in the daily chart are extremely oversold and the charts of index heavyweights such as Reliance and State bank of India are showing the possibility of a decent up move in the coming trading sessions. As a result a bounce in the benchmark indices cannot be ruled out if the Nifty stays above yesterdays high of 5562. In this case, we expect a relief rally towards 5607 5664 levels.

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Daily Technical Report

August 08, 2013

Bank Nifty Outlook - (9757)

Yesterday, the Bank Nifty too opened on a flat note in-line with our benchmark indices and then oscillated within a narrow trading range throughout the session. We are now observing a Bullish Harami candlestick formation on the daily chart. An occurrence of such candlestick pattern after a steep fall indicates the possibility of a halt of the current downtrend. However the pattern needs confirmation in the form of a close above the high of the candle (9848). The daily momentum oscillators are also placed well inside the extreme oversold zone. Hence, if Bank Nifty stays above 9848 levels, we may witness a bounce towards 10120. On the flipside, 9660 remains to be a key support level for the index.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Expected Targets Support Level

Bullish Above 9848 10014 -10120 9660 Source: Falcon:

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Daily Technical Report

August 08, 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 18,416 5,448 9,577 1,135 172 397 1,036 1,705 472 314 111 251 284 379 245 116 2,144 295 2,297 863 701 591 1,788 81 588 850 100 345 2,921 310 182 28 626 759 773 825 1,280 88 129 266 508 91 249 811 314 1,601 120 500 264 65 190 1,765 1,596 S1 18,540 5,483 9,667 1,147 175 410 1,052 1,738 487 320 113 262 288 385 254 124 2,199 300 2,347 885 715 596 1,811 84 595 859 103 359 2,942 316 193 29 633 769 801 834 1,305 94 133 269 521 92 265 842 325 1,658 125 511 272 71 199 1,794 1,619 PIVOT 18,676 5,522 9,758 1,164 178 425 1,072 1,782 499 326 115 271 292 390 261 129 2,231 303 2,402 920 737 605 1,840 86 604 869 105 369 2,972 324 200 31 640 781 848 846 1,328 99 136 272 532 94 278 862 332 1,694 129 526 279 75 204 1,842 1,648 R1 18,800 5,558 9,848 1,176 181 438 1,089 1,815 514 332 117 282 296 395 269 136 2,286 308 2,453 942 752 610 1,863 89 611 878 109 382 2,994 330 211 32 647 792 875 855 1,353 105 140 275 544 95 294 893 342 1,751 134 537 287 80 213 1,871 1,672 R2 18,936 5,597 9,939 1,192 185 452 1,109 1,858 525 338 119 291 300 401 276 141 2,317 312 2,508 978 774 620 1,891 91 620 889 111 392 3,024 339 219 34 653 804 922 867 1,375 109 143 277 556 96 306 913 349 1,787 138 552 294 84 218 1,920 1,701

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Daily Technical Report

August 08, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@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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