Daily Technical Report

August 17, 2012

Sensex (17657) / NIFTY (5363)

Yesterday yet again we witnessed a flat opening on the back of quiet global cues and indices corrected marginally in the second half to close in the negative territory. On the sectoral front, the capital Goods, Oil & Gas and Auto ended in the positive territory; whereas Metal, Capital Goods and FMCG remained under pressure throughout the day. The advance to decline ratio was in favor of declining counters (A=1305 D=1522) (Source www.bseindia.com). Formation On the weekly chart, the indices have precisely tested the Downward Sloping Trend Line resistance near 17727 / 5386 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and the 200-day SMA are placed at 17284 / 5242 and 16900 / 5100 levels, respectively. A weekly closing above 17727 / 5386 level would confirm a Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The candlestick pattern on the daily chart resembles a Shooting star and signifies resistance near 17727 / 5386 levels.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Resistance Levels Support Levels

Neutral 5391 5425 5329 - 5290

. Trading strategy: Looking at the past couple of trading sessions, it is clear that 17754 / 5387 level is proving to be strong resistance level. Failure to close above this level (17754 / 5387) in multiple sessions is a clear evidence of the same. Yesterday too was no exception. Going forward, the coming trading session can be decisive as it would dictate the weekly closing for our markets. For the day, if our markets sustain above 17764 / 5391, then they are likely to rally higher to test 17840 / 5425 level. Conversely, 17572 - 17450 / 5329 - 5290 levels may provide decent support for the day.

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Daily Technical Report

August 17, 2012

Bank Nifty Outlook - (10427)

We had mentioned a broad trading range of 10240 to 10622. Yesterday, Bank Nifty corrected sharply during the second half of the session and contributed significantly to the fall in the broader markets. Going forward, we are of the opinion that if Bank Nifty sustains below 10375 level, then the negative momentum is likely to increase further and in this scenario, the support level of 10240 may be tested. Conversely, 10551 10641 levels would act as strong and decisive resistance levels for Bank Nifty. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 10551 10641 10375 10240 Source: Falcon

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Daily Technical Report

August 17, 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 17,564 5,336 10,316 1,321 189 3,640 1,100 1,671 635 258 226 340 328 346 346 212 1,624 361 2,987 544 699 592 1,871 114 487 939 136 2,288 250 404 74 578 1,439 740 1,152 168 280 718 117 494 790 518 83 1,869 182 649 106 651 228 100 389 1,243 343 S1 17,611 5,350 10,371 1,330 190 3,676 1,107 1,682 639 259 228 342 331 351 350 214 1,641 364 3,006 551 704 596 1,900 115 491 948 139 2,302 254 412 75 582 1,458 753 1,162 169 282 724 118 503 803 523 84 1,882 185 653 108 657 232 100 394 1,253 346 PIVOT 17,687 5,370 10,461 1,344 193 3,731 1,115 1,694 644 261 231 345 334 356 352 217 1,655 369 3,028 555 711 602 1,920 118 494 962 141 2,315 261 417 76 587 1,470 761 1,180 171 285 732 120 510 812 530 85 1,903 190 660 110 664 236 101 402 1,262 350 R1 17,734 5,384 10,517 1,353 194 3,767 1,121 1,705 648 262 233 347 336 361 356 219 1,673 372 3,047 562 717 606 1,949 119 497 970 144 2,329 265 424 77 591 1,489 774 1,190 171 287 738 122 519 826 535 86 1,915 193 664 112 669 239 102 406 1,273 354 R2 17,810 5,404 10,607 1,367 197 3,822 1,129 1,717 653 264 236 349 339 366 358 221 1,687 377 3,068 566 723 612 1,969 121 500 985 146 2,342 272 430 78 597 1,501 782 1,208 173 290 746 124 526 835 543 88 1,936 198 671 115 676 243 103 414 1,282 358

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Daily Technical Report

August 17, 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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