Daily Technical Report

July 04, 2012

Sensex (17426) / NIFTY (5288)

Yesterday, our benchmark indices opened on a positive note on the back of positive global clues. However, we witnessed a choppy trading session throughout the day and finally indices closed marginally in the positive territory. On sectoral front, Consumer Durables, Realty and PSU counters were among the major gainers whereas; FMCG, IT and Power remained under pressure. The advance to decline ratio was strongly in favor of advancing counters (A=1728 D=1139) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) is placed at 16810/ 5078 level. The weekly RSI-Smoothened oscillator and 5 & 20 EMA are now signaling a positive crossover. Markets have taken support at the Monthly Upward Sloping Trend Line and have formed a Bullish Engulfing Pattern.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points: Trading strategy: Yesterday, once again we witnessed a choppy trading session where; our indices were unable to sustain above 17500 / 5300 level. Our markets traded in a narrow range throughout the day to close near the opening levels to form another Doji Candlestick pattern similar to the previous session. Therefore, there are no major changes in the chart structure and we reiterate our view that recent low of 17363 / 5263 remains intermediate intraday support for the markets. Below 17363 / 5263 level, we may witness some profit booking and indices may test 5240 5215 levels. On the upside, if indices sustain above 17527 / 5317 level then are likely to rally further towards 17530 17687 / 5340 5386.
View Expected Target Support Levels Bullish Above 5317 5340 5386 5263 - 5240 5215

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Daily Technical Report

July 04, 2012

Bank Nifty Outlook - (10481)

Yesterday, Bank Nifty opened on a positive note and traded in a narrow range throughout the session. As expected, the zone of 10501 10555 has acted as immediate resistance level for the index. For the second consecutive session the index has formed a narrow range body formation which indicates indecisiveness prevailing at current levels. Considering the broader picture on the weekly chart and since there is hardly any significant change on the Daily chart, we continue to remain optimistic on the index. We reiterate our view that a sustainable move above 10555 levels would trigger a fresh up move and the index is then likely to test 10645 10830 levels. On the downside 10300 10250 levels is likely to act as support in coming trading session. Actionable points:
View Resistance Levels Support Levels Neutral 10501 10555 10300 - 10250

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

July 04, 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 17,259 5,239 10,390 1,265 173 3,872 1,025 1,539 713 307 226 737 306 309 343 203 1,643 351 2,644 479 659 568 2,051 120 431 891 135 2,455 243 437 72 590 1,384 709 1,177 157 284 808 110 492 725 554 91 2,163 188 732 101 618 232 102 438 1,207 395 S1 17,343 5,264 10,436 1,280 174 3,906 1,035 1,551 719 313 229 748 310 312 350 208 1,656 356 2,670 482 667 572 2,074 122 436 896 136 2,473 245 444 74 596 1,394 713 1,184 159 287 819 111 497 731 559 92 2,175 192 736 103 624 235 103 442 1,223 398 PIVOT 17,435 5,290 10,490 1,301 176 3,936 1,042 1,561 728 318 233 755 312 316 354 211 1,665 361 2,700 486 671 576 2,106 123 444 903 138 2,494 247 453 75 601 1,407 718 1,193 161 290 827 112 503 737 564 92 2,190 195 740 105 632 238 104 446 1,247 401 R1 17,518 5,315 10,536 1,316 177 3,970 1,052 1,573 733 324 235 767 316 318 361 217 1,678 366 2,726 489 679 580 2,129 125 449 909 139 2,512 249 460 76 607 1,417 722 1,200 163 293 837 113 508 742 569 93 2,202 198 744 107 638 241 105 451 1,263 404 R2 17,610 5,341 10,590 1,336 179 4,000 1,059 1,583 742 328 239 774 318 322 365 220 1,688 371 2,756 493 684 584 2,161 126 456 916 140 2,534 252 469 77 612 1,429 726 1,209 164 296 845 114 514 748 574 94 2,216 201 748 109 646 244 107 455 1,286 407

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Daily Technical Report

July 04, 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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