Daily Technical Report

September 13, 2012

Sensex (18000) / NIFTY (5431)

Yesterday, our benchmark indices opened marginally higher and consolidated till the announcement by the German constitutional court. Post the announcement all European markets rallied sharply and we witnessed a sharp up move in our markets as well. On sectoral front, Metal, Auto and Capital Goods counters contributed significantly in yesterdays up move; whereas Power and Health Care sectors closed in the negative territory. The advance to decline ratio was in favor of advancing counters (A=1575 D=1308) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 17508 / 5298 and 17254 / 5226 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 RSI momentum oscillator and 3 & 8 EMA have given a positive crossover. The 50% Fibonacci Retracement level of the rise from 16598 to 17973 / 5032 to 5449 is at 17285 / 5240.

Source: Falcon:

Actionable points:
View Expected Target Levels Bullish above 5449 5500 - 5550 5332 5309

Trading strategy:
Over the last 4-5 trading sessions, we are witnessing a complete shift in traders sentiments across the globe. Yesterday too indices maintained their positive bias throughout the day and have now almost reached the first target of 5449 mentioned in our earlier reports. Going forward, if indices manage to sustain above 5449, then they are likely to rally towards their next target of 5500 - 5550. Hence, we advise traders to trade with a positive bias. Conversely, Tuesdays low of 17677 / 5332 level may act as support over the next few sessions. The US Fed declares its monetary policy tonight and that would have an effect on the Indian markets going forward. We expect significant volatility post the conclusion of the FOMC meet.

Support Levels

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Daily Technical Report

September 13, 2012

Bank Nifty Outlook - (10183)

Yesterday, Bank Nifty opened with an upside gap and traded with extreme volatility throughout the session to close with a marginal gain of 0.47%. The momentum oscillator RSI on the daily chart continues to be positive. However, we are now witnessing a Spinning Top candlestick pattern indicating indecisiveness prevailing at current levels. Thus going forward yesterdays low of 10109 is likely to act as a key support for the index. The mentioned pattern would be negated if the index sustains above yesterdays high of 10224. In this scenario the index is likely to rally towards 10275 10327 levels.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 10224 10275 - 10327 10109 Source: Falcon:

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Daily Technical Report

September 13, 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 17,838 5,379 10,058 1,340 188 3,731 930 1,662 633 256 191 342 336 369 362 197 1,707 358 2,979 572 747 592 1,764 105 529 932 130 2,508 266 310 66 573 1,354 753 1,206 166 275 667 119 555 786 437 78 1,829 155 664 91 670 246 95 372 1,378 371 S1 17,919 5,405 10,121 1,349 190 3,788 943 1,678 638 258 194 345 339 374 369 200 1,738 363 2,996 577 752 595 1,775 107 535 940 131 2,524 267 328 68 579 1,382 758 1,213 168 277 676 120 558 792 444 79 1,844 159 672 93 676 255 95 380 1,396 378 PIVOT 17,966 5,420 10,172 1,359 192 3,822 955 1,700 646 260 198 347 342 383 373 202 1,762 369 3,017 581 757 598 1,790 109 539 950 132 2,537 269 339 69 583 1,400 763 1,219 172 279 684 121 563 796 453 80 1,860 161 679 95 686 260 96 384 1,409 382 R1 18,047 5,446 10,235 1,367 194 3,880 968 1,716 651 263 202 350 345 388 381 205 1,793 374 3,034 586 762 602 1,801 111 545 959 134 2,553 271 358 70 588 1,428 768 1,226 174 282 693 122 566 802 460 82 1,876 165 686 97 691 268 96 391 1,427 389 R2 18,094 5,462 10,287 1,378 196 3,914 979 1,738 658 265 206 353 348 397 385 207 1,817 380 3,055 590 768 604 1,816 112 548 968 135 2,566 272 368 71 592 1,446 773 1,232 178 284 701 123 571 806 469 83 1,892 167 694 98 701 273 97 396 1,440 393

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Daily Technical Report

September 13, 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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