Daily Technical Report

September 25, 2012

Sensex (18673) / NIFTY (5670)

The week began on a quite note in-line with mixed global cues. Subsequently, indices traded in a narrow range throughout the day and a minor correction towards the latter part of the session led the markets to close marginally in the negative territory. On the sectoral front, the Capital Goods, Power and Realty continued to surge higher; whereas FMCG, Oil & Gas and PSU counters remained under pressure. The advance to decline ratio was strongly in favor of advancing counters (A=1694 D=1198) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18000 / 5450 and 17500 / 5300 levels, respectively. The weekly chart depicts an Upward Sloping Trend Line breakout above 17973 / 5449 levels. The daily RSI momentum oscillator on weekly chart is still showing strength. The continuous rise in the daily ADX (14) indicator signals strength in the coming sessions. The ADX line has moved up from the 21 level (previous weeks Friday) to 30 (this Friday). The ADX line moving above the 30 mark along with rising + DI is interpreted as a strong trend.

Source: Falcon:

Actionable points:
View Resistance Levels Support Levels Neutral 5720 5741 5650 - 5620

Trading strategy:
After a steep intraday rally on last Friday, it was evident to have a flat opening in our markets. As mentioned in our weekly report, there is a possibility that our benchmark indices may consolidate or correct marginally before the beginning of the next leg of rally. In this process, we may witness stock specific moves. Going forward, the resistance remains at 19132 / 5741 level. Only a move above this level may push indices towards the next targets of 19542 19812 / 5850 5945. On the lower side, 18640 / 5650 level, which is 20 EMA on hourly chart, may act as support for the day. A sustainable move below this level may trigger further selling and as a result, the markets may slide towards 18580 18443 / 5620 5581 levels.

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Daily Technical Report

September 25, 2012

Bank Nifty Outlook - (11424)

Yesterday, Bank Nifty opened on an optimistic note and traded with immense volatility to close with a nominal gain of 0.57%. We are now witnessing a Shooting Star candlestick pattern on the daily chart. The mentioned candlestick is a bearish reversal pattern and requires confirmation. The momentum oscillators on the daily chart continue to be placed in overbought zone coupled with negative divergence in RSI momentum oscillator on the hourly chart. Thus if the index manages to sustain below yesterdays low of 11359 then it is likely to drift towards 11216 11060 levels. On the upside a move beyond the high of the "Shooting star" (11534) will negate the bearish implication of the said pattern.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Resistance Levels Bearish Below 11359 11216 11060 11534 Source: Falcon:

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Daily Technical Report

September 25, 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 18,551 5,634 11,264 1,353 190 3,904 1,088 1,779 756 268 226 337 338 346 364 228 1,636 373 3,171 534 741 617 1,891 115 497 1,044 152 2,560 250 415 80 607 1,528 800 1,285 163 280 793 115 507 817 537 88 2,143 175 684 100 659 268 98 398 1,257 366 S1 18,612 5,652 11,344 1,360 192 3,942 1,110 1,794 764 274 237 341 342 351 367 232 1,651 378 3,187 546 750 626 1,906 117 507 1,057 155 2,580 253 430 83 615 1,553 819 1,320 165 284 807 117 514 827 549 90 2,171 178 697 102 669 271 101 403 1,273 373 PIVOT 18,712 5,681 11,439 1,370 194 3,971 1,142 1,809 774 278 244 347 348 357 370 237 1,662 383 3,214 560 767 632 1,928 119 519 1,072 157 2,595 257 442 85 622 1,585 832 1,345 168 289 832 119 524 842 560 92 2,212 183 706 105 676 275 104 409 1,293 378 R1 18,773 5,699 11,518 1,378 196 4,008 1,165 1,824 782 284 255 351 352 362 372 240 1,678 389 3,230 572 777 640 1,943 122 530 1,086 161 2,615 260 457 87 630 1,610 852 1,380 170 293 846 121 532 852 572 93 2,239 186 720 107 686 278 106 413 1,309 386 R2 18,872 5,728 11,613 1,388 197 4,037 1,197 1,840 792 288 263 357 358 369 375 245 1,689 394 3,256 586 794 646 1,965 124 542 1,100 163 2,630 265 470 89 637 1,642 864 1,405 173 298 872 123 542 867 583 96 2,280 191 729 110 693 283 110 419 1,329 391

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Daily Technical Report

September 25, 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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