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Daily Technical Report

July 11, 2012

Sensex (17618) / NIFTY (5345)

We witnessed a quiet opening yesterday in-line with other Asian bourses. However, post mid-session, strong buying by market participants ultimately led indices to close marginally above the crucial resistance of 5340 mark. On the sectoral front, Consumer goods, FMCG, Auto and Banking counters contributed heavily during yesterday’s sharp up move. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of advancing counters (A=1760 D=1157) (Source – www.bseindia.com).

Formation

The 200-day SMA (Simple Moving Average) is placed at 16824 / 5083 level.

Markets have taken support at the Monthly ‘Upward Sloping Trend Line’ and have formed a ‘Bullish Engulfing’ Pattern.

We are witnessing a narrow range body formation near 61.8% Fibonacci retracement of the fall from 18524 / 5630 (February 22, 2012)

– 15749 / 4770 (June 4, 2012). This level is at

17464 / 5302.

On the weekly chart we are witnessing a

“Downward Sloping Trend Line” resistance near

17780

/ 5420 formed by joining the highs of

21109

/ 6339 (November 5, 2010) – 18524 /

5630 (February 24, 2012).

Trading strategy:

Yesterday, after a flat opening, positive momentum picked up during the second half on the back of sharp upticks in European markets. The benchmark indices are now trading out of the 7 day zone of

17350 - 17570 / 5260 - 5340 and have clearly given

a strong upward breakout. Going forward, 17664 –

17775 / 5380 - 5420 levels are the next potential

targets. Considering the price action in many individual heavy weight stocks, and the strong advance decline ratio of the broader markets, it is clear that the undertone remains bullish. On the downside, Monday’s low of 17344 / 5258 would act as an important support level.

low of 17344 / 5258 would act as an important support level. Exhibit 1: Nifty Daily

Exhibit 1: Nifty Daily Chart

as an important support level. Exhibit 1: Nifty Daily Chart Source: Falcon Actionable points: View Bullish

Source: Falcon

Actionable points:

View

Bullish Above 5350

Expected Targets

5380 - 5420

Support Levels

5300 - 5280

Daily Technical Report

July 11, 2012

Bank Nifty Outlook - (10752)

Yesterday, Bank Nifty opened on a flat to positive note and traded in a narrow range during first half of the session. However during the second half, strong buying in both mid and large cap banks, led the index to close near the highest point of the day. Considering the momentum oscillators on daily chart and overbought condition of oscillators on hourly chart we believe that volatility is likely to increase in the next few sessions. Thus if the index sustains above yesterday’s high of 10767 then it is likely to rally towards 10910 – 11040 levels. On the downside, 10665 – 10615 levels are likely to act as support in coming trading session. Positional traders holding long positions can further trail their stop loss to 10300 level (Closing basis) on Bank Nifty Spot.

Actionable points:

View

Bullish Above 10767

Expected Targets

10910 - 11040

Support Levels

10665 - 10615

Targets 10910 - 11040 Support Levels 10665 - 10615 Exhibit 2: Bank Nifty Daily Chart Source:

Exhibit 2: Bank Nifty Daily Chart

- 11040 Support Levels 10665 - 10615 Exhibit 2: Bank Nifty Daily Chart Source: Falcon www.angelbroking.com

Source: Falcon

Daily Technical Report

July 11, 2012

Daily Pivot Levels for Nifty 50 Stocks

Report July 11, 2012 Daily Pivot Levels for Nifty 50 Stocks SCRIPS S2 S1 PIVOT R1

SCRIPS

S2

S1

PIVOT

R1

R2

SENSEX

17,351

17,485

17,558

17,692

17,765

NIFTY

5,262

5,304

5,326

5,368

5,390

BANKNIFTY

10,559

10,655

10,711

10,807

10,863

ACC

1,246

1,259

1,273

1,286

1,301

AMBUJACEM

167

169

170

171

173

ASIANPAINT

3,634

3,663

3,704

3,734

3,775

AXISBANK

1,021

1,048

1,064

1,091

1,106

BAJAJ-AUTO

1,491

1,508

1,522

1,538

1,552

BANKBARODA

700

715

724

739

747

BHARTIARTL

312

317

321

326

330

BHEL

230

233

235

237

239

BPCL

757

763

769

775

780

CAIRN

308

310

312

314

316

CIPLA

318

323

326

331

334

COALINDIA

345

350

355

359

364

DLF

210

212

214

216

218

DRREDDY

1,628

1,643

1,656

1,671

1,684

GAIL

347

353

357

362

366

GRASIM

2,587

2,617

2,637

2,668

2,688

HCLTECH

479

489

494

504

509

HDFC

673

678

681

685

688

HDFCBANK

571

580

586

595

601

HEROMOTOCO

2,013

2,039

2,053

2,079

2,093

HINDALCO

123

126

127

129

130

HINDUNILVR

437

442

445

450

453

ICICIBANK

926

935

940

948

953

IDFC

136

139

141

144

146

INFY

2,433

2,446

2,455

2,468

2,477

ITC

245

252

256

262

266

JINDALSTEL

435

445

451

461

468

JPASSOCIAT

74

76

77

79

80

KOTAKBANK

589

594

598

603

607

LT

1,376

1,397

1,409

1,429

1,441

M&M

727

730

734

737

741

MARUTI

1,162

1,191

1,210

1,239

1,258

NTPC

156

158

159

161

163

ONGC

273

276

279

282

285

PNB

821

843

856

878

891

POWERGRID

111

112

113

114

115

RANBAXY

487

492

495

500

503

RELIANCE

726

733

738

744

749

RELINFRA

542

555

564

578

587

SAIL

92

93

93

94

95

SBIN

2,202

2,216

2,225

2,239

2,248

SESAGOA

192

196

199

203

206

SIEMENS

704

720

729

744

753

STER

104

106

107

110

111

SUNPHARMA

619

623

626

630

634

TATAMOTORS

239

243

246

249

252

TATAPOWER

99

100

101

102

103

TATASTEEL

428

434

438

443

447

TCS

1,240

1,251

1,261

1,271

1,281

WIPRO

379

382

386

389

394

Daily Technical Report

July 11, 2012

Research Team Tel: 022 - 39357800

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E-mail: research@angelbroking.com

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Research Team

Shardul Kulkarni

-

Head – Technicals

Sameet Chavan

-

Technical Analyst

Sacchitanand Uttekar

-

Technical Analyst

Mehul Kothari

-

Technical Analyst

Ankur Lakhotia

-

Technical Analyst

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