Daily Technical Report

November 02, 2012

Sensex (18562) / NIFTY (5645)

Yesterday in line with global markets, our benchmark indices too opened on a quiet note. Further, in the later half indices picked up substantial upward momentum to close at the highest point of the session. The Consumer Durables sector led the rally and was supported by the Realty and Auto counters. The FMCG and Oil & Gas counters remained under pressure for yet another trading session. The advance to decline ratio was strongly in favor of advancing counters (A=1673 D=1162) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18650 / 5667 and 17986 / 5456 levels, respectively. The monthly RSI oscillator is moving higher from the 50 mark and the positive in the ADX (9) indicator is intact. The negative crossover in the weekly Stochastic oscillator is still intact. The 38.2% and 50% Fibonacci Retracement levels of the rise from 17250 to 19138 / 5216 to 5815 are placed at 18416 / 5586 and 18194 / 5515, respectively.

Source: Falcon:

Trading strategy:
Our benchmark indices are showing tremendous resilience since last two trading sessions as prices are not willing to sustain below the 5600 (Nifty) mark. We are observing immense buying interest in many individual stocks. Indices are now hovering around their 20-day EMA placed at 18610 /5655 level. After breaking this support zone on Tuesdays session, indices have now bounced back towards it. We advise traders to create intraday long positions only if indices manage to sustain above 18610 / 5655 level. In this case, indices may bounce further to test their next resistance level of 18718 / 5690. On the flipside, the downward momentum is likely to resume only on the violation of Wednesdays low of 18398 / 5583.

Actionable points:
View for the day Expected targets Support levels Bullish Above 5655 5690 - 5729 5602- 5583

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Daily Technical Report

November 02, 2012

Bank Nifty Outlook - (11315)

Unlike our benchmark indices, yesterday Bank Nifty remained in a narrow range and ended with marginal gain of 0.41%. As mentioned in our previous report the index consolidated for yet another session. Yesterday, we witnessed that the positive sentiments led the Bank Nifty to test 38% Fibonacci retracement level of the recent fall from 11656 11125 levels. Going forward, if index sustain above yesterdays high of 11349 then we may witness further bounce till 11391 11454 levels. Since, we are observing negative crossover in 5&20 day EMA, yesterdays low of 11230 will now act as a crucial support level in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View for the day Expected Targets Support Levels Bullish Above 11349 11391 - 11454 11230 - 11163 Source: Falcon:

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Daily Technical Report

November 02, 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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 18,388 5,584 11,179 1,360 198 3,823 1,165 1,794 714 265 222 334 329 361 342 200 1,752 341 3,249 601 755 622 1,848 114 527 1,039 159 2,330 274 378 85 591 1,607 560 870 1,426 164 261 725 114 519 781 467 2,087 168 680 683 252 104 389 1,305 1,959 340 S1 18,475 5,615 11,247 1,378 201 3,851 1,186 1,820 724 273 224 336 331 368 345 202 1,759 343 3,299 604 759 626 1,879 115 532 1,048 163 2,347 277 385 87 602 1,619 563 885 1,443 165 263 738 116 525 794 474 2,101 170 688 692 260 105 393 1,310 1,978 351 PIVOT 18,532 5,632 11,298 1,389 203 3,869 1,198 1,837 731 277 226 338 335 372 347 204 1,765 347 3,330 609 762 631 1,898 116 536 1,055 165 2,359 280 390 89 608 1,631 567 894 1,455 165 265 746 117 529 802 480 2,113 172 693 698 265 106 396 1,315 1,995 358 R1 18,619 5,663 11,366 1,406 206 3,897 1,219 1,862 741 286 228 340 338 379 350 206 1,772 349 3,381 613 766 634 1,929 117 542 1,064 168 2,376 282 397 90 619 1,643 570 909 1,472 166 267 760 118 535 814 487 2,127 174 702 707 272 107 401 1,320 2,014 369 R2 18,676 5,680 11,417 1,417 208 3,916 1,231 1,879 747 290 230 342 341 383 352 207 1,778 353 3,412 617 769 639 1,949 118 546 1,070 171 2,387 285 402 92 625 1,655 573 919 1,484 167 270 767 119 540 822 493 2,139 176 707 713 277 108 404 1,325 2,031 376

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Daily Technical Report

November 02, 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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