Daily Technical Report

June 25, 2012

Sensex (16973) / NIFTY (5146)

On Friday, our Benchmark indices witnessed a gap down opening on the back of negative global clues and tested the mentioned support level of 5093 during the initial part of the trading session. However, significant buying during the second half, pushed indices higher to close near days high. On sectoral front, Realty, Auto and Power stocks remained positive during Fridays sessions; whereas Metal and Consumer Goods sectors ended on a losing side. The advance to decline ratio was marginally in favor of declining counters (A=1363 D=1392) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16803 / 5075 and 16691 / 5061, respectively. The 20-Week EMA is placed at 16854 / 5108 level. On the daily chart, indices are trading well above the upper range of Downward Sloping Channel drawn by joining two highs of February 22, 2012 April 19, 2012 and low of March 7, 2012. The positive crossover in weekly RSI momentum oscillator and weekly 3 & 8 EMA is still intact. Also, the weekly RSI-Smoothened is now positively poised.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected target Support Levels

Bullish above 5190 5270 5093 5042

Trading strategy: Broadly speaking, indices have traded in the range of 17110 to 16553 / 5190 to 5015 over the last few sessions. Despite a disappointing outcome from the RBI monetary policy, significant rupee depreciation and negative global clues, our indices remained firm and closed well above the 5100 mark. This signifies immense strength in our markets. In our last weekly report, we had advised traders to use declines as a buying opportunity. In-line with our expectation, market participants have showed immense buying interest near all support levels.

The benchmark indices are now trading well above the 200-day SMA level as well as the upper trading range of Downward Slopping Channel. The positive crossover in weekly RSI momentum oscillator and weekly 3 & 8 EMA is still intact. Further, the RSI-Smoothened oscillator is now positively poised. The impact of this technical indicator would be evident if indices sustain above 17110 / 5190 level. This may trigger enhanced buying interest among market participants. As a result, indices are expected to rally towards our mentioned target of 17400 / 5270 or even higher. We continue to be optimistic and traders are now advised to trail their stop loss from 4880 to 4995 on closing basis.

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Daily Technical Report

June 25, 2012

Bank Nifty Outlook - (10038)

On Friday, Bank Nifty opened on a flat note and traded with extreme volatility throughout the session, but managed to give a close near the highest point of the day. As expected the index traded in the mentioned range of 10225 9595 throughout the week. The momentum oscillators on the daily and weekly chart continue to be positive. Moreover we are witnessing a positive crossover in 5 & 20 EMA on the weekly chart. However, the zone of 10180 10225 levels is likely to act as intermediate resistance zone in coming trading session. A sustainable move above this resistance zone is likely to trigger fresh momentum on the upside. In this scenario Bank Nifty is likely to rally towards 10292 10374 levels. On the downside 9934 9873 levels are likely to act as support in coming trading session. Positional traders holding long positions can further trail their stop loss to 9840 level (Closing basis) on Bank Nifty spot. Actionable points:
View Resistance Levels Support Levels Neutral 10180 - 10225 9934 - 9873

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

June 25, 2012 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 M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,724 5,067 9,796 1,164 160 3,840 987 1,508 680 303 214 750 318 305 332 186 1,561 332 2,358 464 625 532 2,027 113 455 825 127 2,404 244 421 68 565 1,329 681 1,058 148 269 751 108 479 698 514 89 2,101 177 700 95 601 238 91 410 1,204 388 S1 16,848 5,107 9,917 1,190 164 3,865 1,001 1,527 694 307 217 757 322 309 335 190 1,573 336 2,442 468 633 538 2,057 115 458 838 129 2,439 247 427 70 575 1,346 689 1,080 150 274 765 109 484 705 526 89 2,129 182 708 97 605 243 93 414 1,219 394 PIVOT 16,932 5,133 9,995 1,216 166 3,889 1,011 1,543 702 310 221 764 324 313 339 193 1,581 339 2,488 476 637 542 2,084 118 461 846 131 2,462 250 434 71 581 1,358 697 1,097 152 277 775 110 489 710 534 90 2,157 186 715 99 610 247 94 421 1,229 399 R1 17,056 5,173 10,117 1,241 170 3,915 1,025 1,562 717 314 225 771 328 318 342 197 1,593 343 2,573 480 645 548 2,114 120 464 859 133 2,497 253 441 73 591 1,375 705 1,119 154 283 789 111 494 716 546 91 2,185 191 722 102 613 251 96 425 1,244 405 R2 17,140 5,199 10,195 1,267 173 3,939 1,036 1,578 725 316 229 778 331 321 346 199 1,601 346 2,618 488 649 552 2,141 123 467 867 135 2,520 256 447 75 597 1,387 712 1,135 155 286 798 112 500 721 555 92 2,213 194 730 104 618 256 97 431 1,255 411

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Daily Technical Report

June 25, 2012
Research Team Tel: 022 - 39357800 E-mail: research@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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