Daily Technical Report

August 28, 2012

Sensex (17679) / NIFTY (5350)

The week started on a flat note in-line with mixed global cues but strong selling pressure during the second half of the session led to a close at the lowest point of the day. The selling pressure was observed mainly in Banking, Realty and Capital Goods counters; whereas Oil & Gas and FMCG sectors were in the green during yesterdays session. The advance to decline ratio was strongly in favor of declining counters (A=1020 D=1786) (Source www.bseindia.com). Formation On the weekly chart, the indices have closed above the Downward Sloping Trend Line resistance around 17650/ 5370 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 17554 / 5324 and 16900 / 5110 levels, respectively. Looking at the Line Chart it is clear that indices have now confirmed the Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The daily momentum oscillators viz., the RSI and the Stochastic are signaling a negative crossover. The weekly chart candle resembles a Shooting Star pattern.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Targets Resistance Levels

Negative Below 5346 5290 - 5240 5370 - 5399

Trading strategy: After a quiet opening, the selling pressure intensified during the second half, which led to a fall below the last week's low of 17705 / 5368. As a result, the negative momentum continued till the end of the session. As mentioned in our previous report, the momentum oscillators remain in the sell mode. Going forward, we are of the opinion that if indices sustain below yesterday's low of 17662 / 5346, then they are likely to slip towards 17450 - 17285 / 5290 5240 levels. Conversely, yesterday's high of 17820 / 5399 would act as immediate resistance for our markets.

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Daily Technical Report

August 28, 2012

Bank Nifty Outlook - (10150)

Yesterday, Bank Nifty opened on a pessimistic note and selling pressure throughout the day led the index to close near days low. After a strong sideways consolidation, the index has broken down from the mentioned range of 10641 10240 and has closed well below it. The momentum oscillators on the daily chart continue with their sell signal. However, the momentum oscillators on the hourly chart are placed in extreme oversold territory and a minor pullback or consolidation during the day cannot be ruled out. On the upside 10250 10276 are likely to act as resistance in coming trading session. However, if the index sustains below yesterdays low of 10134 then it is likely to drift towards 10056 9964. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected Targets Resistance Levels

Negative Below 10134 10056 - 9964 10250 - 10276 Source: Falcon

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Daily Technical Report

August 28, 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 17,563 5,313 10,004 1,325 185 3,617 1,006 1,693 608 244 219 346 342 361 358 195 1,645 360 2,988 552 712 588 1,894 108 515 917 133 2,380 263 360 70 564 1,370 759 1,142 166 283 650 116 539 776 455 83 1,800 183 658 108 660 236 95 380 1,306 356 S1 17,621 5,332 10,077 1,336 187 3,640 1,023 1,707 617 247 222 350 344 365 361 198 1,658 363 3,010 555 717 591 1,912 109 518 926 135 2,396 264 369 72 569 1,383 766 1,155 167 285 665 117 547 782 464 83 1,822 185 663 109 665 239 96 383 1,313 359 PIVOT 17,720 5,365 10,208 1,343 189 3,675 1,051 1,719 630 250 228 354 346 368 366 203 1,678 367 3,023 558 723 595 1,929 110 522 942 139 2,421 265 384 74 578 1,402 772 1,177 169 287 690 118 554 789 478 84 1,861 189 668 111 668 243 97 387 1,322 363 R1 17,779 5,384 10,281 1,354 191 3,697 1,068 1,733 639 253 231 358 348 372 369 206 1,691 370 3,045 561 728 598 1,947 111 525 951 142 2,437 266 393 75 583 1,415 779 1,190 170 290 704 119 563 795 486 84 1,883 191 673 112 673 245 99 390 1,329 365 R2 17,878 5,418 10,412 1,361 193 3,733 1,096 1,745 652 256 236 361 351 375 373 211 1,711 374 3,057 563 733 602 1,964 113 529 967 146 2,462 267 408 77 592 1,433 785 1,211 171 292 729 120 570 802 501 85 1,922 195 678 114 676 249 100 394 1,338 370

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Daily Technical Report

August 28, 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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