Daily Technical Report

November 06, 2012

Sensex (18763) / NIFTY (5704)

Considering most of the Asian indices, yesterday our benchmark indices too started the week on quiet note. Subsequently, extremely lackluster movement was seen throughout the day as indices traded within the half a percent range to close marginally above the psychological level of 5700. Yesterday, the defensive sectors like, FMCG and Heath Care were among the major gainers; whereas the Power, Metal and Auto sectors were among the major draggers. The advance to decline ratio was in favor of declining counters (A=1356 D=1496) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18625 / 5659 and 18060/ 5478 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 daily momentum oscillators and 3 & 8 EMA are now signaling a positive crossover. 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:

Actionable points:
View for the day Expected targets Support levels Bullish Above 5729 5757 - 5816 5679- 5650

Trading strategy:
Similar to most of the trading sessions in the month of October, yesterdays session too was directionless and sluggish. During the first half, indices corrected from the highs and precisely tested the hourly 20-EMA level of 18680 / 5680. The positive crossover of the daily 3 & 8 EMA and the momentum oscillators are still intact. Going forward, we reiterate our view that if our benchmark indices sustain above 18535 / 5729 level, then we are likely to witness a rally towards 18973 19138 / 5757 5816. A move beyond 19138 / 5816 would attract immense optimism in the market and as a result, the up move may get extended towards 19542 19812 / 5850 5945 levels. On the flip side, yesterdays low of 18683 / 5679 would act as an immediate support. A breach of this level may trigger intraday pessimism in the market.

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Daily Technical Report

November 06, 2012

Bank Nifty Outlook - (11475)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session to close with a minimal gain of 0.13%. The momentum oscillator Stochastic on the daily chart continues with a buy signal. There is no significant change in price structure post yesterdays session and we continue to mention that the index shows a Falling Three Candlestick pattern in the making. However, the pattern requires a confirmation in the form of a close below the 11174. On the upside 11543 11600 levels are likely to act as resistance and 11394 11298 levels are likely to act as support in coming trading session.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View for the day Resistance Levels Support Levels Neutral 11543 - 11600 11394 - 11298 Source: Falcon:

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Daily Technical Report

November 06, 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 18,636 5,668 11,367 1,389 204 3,847 1,193 1,812 736 268 226 336 327 372 347 200 1,733 351 3,308 608 759 629 1,919 112 527 1,062 163 2,356 281 370 85 607 1,649 570 899 1,446 165 263 746 116 529 799 479 2,117 172 689 691 262 104 393 1,315 1,977 356 S1 18,699 5,686 11,421 1,413 207 3,902 1,204 1,835 740 271 228 338 329 376 350 201 1,766 354 3,325 611 765 632 1,934 113 530 1,070 165 2,367 285 375 86 616 1,663 577 905 1,462 166 265 751 117 532 802 483 2,131 175 695 694 266 105 396 1,322 1,996 359 PIVOT 18,747 5,698 11,455 1,426 209 3,936 1,211 1,867 745 274 231 339 330 381 352 203 1,789 357 3,352 614 768 634 1,950 115 534 1,075 167 2,379 287 384 88 621 1,676 582 912 1,475 167 266 755 117 537 806 489 2,142 176 702 700 270 106 398 1,333 2,012 363 R1 18,811 5,716 11,509 1,450 212 3,991 1,222 1,890 749 277 233 341 332 385 356 205 1,821 360 3,369 617 774 637 1,965 117 537 1,083 169 2,390 291 389 89 631 1,690 589 918 1,491 169 268 760 118 539 809 494 2,156 178 708 703 274 107 400 1,340 2,031 367 R2 18,858 5,727 11,543 1,464 214 4,025 1,229 1,922 754 280 235 343 333 390 358 207 1,845 364 3,397 620 778 639 1,981 119 540 1,089 171 2,402 293 398 91 636 1,703 595 926 1,504 170 270 764 118 544 813 500 2,168 180 715 708 279 108 402 1,351 2,047 371

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Daily Technical Report

November 06, 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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