Daily Technical Report

July 30, 2012

Sensex (16839) / NIFTY (5100)

On Friday, our benchmark indices opened on an optimistic note and rallied nearly 2% in early trade on the back of positive global cues. However, profit booking at higher levels trimmed gains and Indices closed at the 5100 mark. On the sectoral front, Metal, FMCG and IT counters contributed heavily in Fridays rally whereas; Realty, Consumer Goods and PSU sectors remained under pressure. The advance to decline ratio was strongly in favor of declining counters (A=1060 D=1703) (Source www.bseindia.com). Formation The weekly 50% and 61.8% Fibonacci retracement levels of the rise from 15748 / 4770 (June 08, 2012) to 17631 / 5349 (July 13, 2012) are seen at 16690 / 5059 and 16467 / 4991 levels, respectively. On the weekly chart, we are witnessing a Downward Sloping Trend Line resistance near 17500 / 5325 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and 200-day SMA are placed at 17042 / 5169 and 16879 / 5100 levels, respectively. The daily Stochastic oscillator is signaling a positive crossover.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Level

Neutral 5150 5198 5078 5032

Trading strategy: Despite strong global cues, our benchmark indices faced immense selling pressure near days high on Fridays session. The selling pressure was mainly seen in PSU Banks and other midcap counters. Indices are now hovering around the strong support zone of 200-day SMA and 50% Fibonacci retracement level, which is around 16879 16598 / 5100 5032,respectively. We are also observing a positive crossover in the daily Stochastic oscillator. Hence, the possibility of a bounce back from current levels cannot be ruled out.

The immediate resistance for the market is seen at 16975 / 5150 level. If indices manage to sustain above this level, then the indices may rally further towards 17318 17466 / 5257 - 5300 levels. On the downside, last weeks low of 16598 / 5032 would act as a strong support level for the markets. A breach of this level would augment pessimism and indices are likely to test 16467 16250 / 4991 4950 levels The coming week is likely to be volatile on account of RBI Monetary policy announcement on Tuesdays session. Hence, we advise traders to stay light on the positions and avoid taking undue risks prior to the policy announcement.

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Daily Technical Report

July 30, 2012

Bank Nifty Outlook - (10141)

On Friday, Bank Nifty opened on an optimistic note and tested the gap formed on July 23, 2012 during the first half of trade. However during the second half, selling pressure near this gap dragged the index lower. At this juncture the index is hovering around its 20 Week EMA at 10090. The momentum oscillator Stochastic on the daily chart has given a fresh buy signal. Considering the price pattern, momentum oscillators and time retracements, we expect the index to rally towards 10402 10460 in the coming week. On the downside 10100 10050 are likely to act as support levels. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected targets Support Level

Neutral 10402 10460 10100 10050 Source: Falcon

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Daily Technical Report

July 30, 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 16,644 5,037 9,916 1,266 178 3,432 963 1,551 624 301 201 341 310 322 348 186 1,597 334 2,644 510 666 555 1,932 115 460 906 124 2,086 250 382 66 508 1,283 674 1,096 150 269 664 111 475 711 452 81 1,844 177 639 98 611 206 93 384 1,193 329 S1 16,742 5,068 10,028 1,280 180 3,469 980 1,567 637 304 204 348 313 324 351 190 1,609 340 2,672 514 670 570 1,971 116 462 917 126 2,117 253 388 68 519 1,301 681 1,104 152 273 689 113 479 716 463 82 1,893 180 646 100 622 210 94 392 1,209 332 PIVOT 16,858 5,109 10,215 1,294 182 3,508 1,009 1,587 659 308 210 359 319 327 353 197 1,623 347 2,696 517 675 579 2,018 117 465 933 129 2,141 254 397 71 535 1,326 688 1,115 154 278 734 114 485 721 479 84 1,980 183 659 101 628 212 95 397 1,220 334 R1 16,956 5,141 10,327 1,308 184 3,546 1,026 1,603 671 311 214 367 322 330 356 200 1,635 352 2,724 521 679 594 2,057 119 468 944 131 2,172 256 403 73 546 1,345 695 1,123 155 282 759 116 489 726 490 85 2,028 186 666 103 639 216 96 405 1,236 337 R2 17,073 5,182 10,514 1,323 186 3,585 1,055 1,622 693 315 220 378 327 333 357 207 1,649 359 2,748 524 685 603 2,104 120 471 960 134 2,195 258 411 76 563 1,370 702 1,134 157 287 804 117 495 732 505 86 2,116 188 678 105 645 219 98 410 1,247 340

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Daily Technical Report

July 30, 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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