Daily Technical Report

November 30, 2012

Sensex (19171) / NIFTY (5825)

Yesterday once again we witnessed a gap up opening on the back of positive Asian cues and markets surged higher to close beyond 5800 mark. Most of the sectors contributed to the rally. Once again Realty counters were the major gainers followed by Banking and Auto sector. The Teck and IT stocks remained under pressure and ended with marginal loss. The advance to decline ratio was strongly in favor of advancing counters (A=1681 D=1264) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18638 / 5667 and 18267 / 5547 levels, respectively. The negative crossover in weekly RSI Smoothened is still intact. We are witnessing a Channel pattern breakout at 5750 level on the daily chart.

Trading strategy:
For the second consecutive session we have witnessed a gap up opening in-line with the global cues. As a result, indices opened above Tuesdays high of 18863 / 5733 level and then precisely met with our target of 19137 / 5815 during the latter part of the day. Yesterdays strong intraday rally was the impact of positive crossover of daily 5 & 20 EMA and the RSI-Smoothened oscillator mentioned in our previous report. We are also witnessing a Channel pattern breakout on the daily chart. In addition, our benchmark indices have closed at 52-week high and we expect further upside in the coming trading sessions. Considering the Channel pattern breakout mentioned above, we now expect the indices to move towards 19697 - 19811 / 5900 5944 levels. However, a brief consolidation / minor correction cannot be ruled out as Indices have now rallied almost 4% in last two sessions. Nevertheless, bias remains on the positive side and we advise positional traders to buy into every decline. The breakout point of the channel pattern i.e. 18900 / 5750 level is now expected to act as a strong support in coming trading sessions.

Source: Falcon:

Actionable points:
View for the day Expected Targets Support Levels Bullish Above 5834 5900 5789 - 5750

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Daily Technical Report

November 30, 2012

Bank Nifty Outlook - (11993)

Yesterday, in line with the benchmark indices the Bank Nifty too showed significant optimism and tested the psychological 12000 mark. On the Daily chart, we are witnessing a horizontal trend line breakout at 11745 level. In addition, the momentum oscillators are positively poised which suggests further upside in the coming trading sessions. Hence, if the Bank Nifty, trades convincingly above yesterdays high of 12035 then the index may rally higher towards 12128 - 12200 levels. On the flipside, since the hourly chart structure is in overbought condition, a minor consolidation or a pullback from current levels cannot be ruled out. In this scenario, 11820 level may act as a decent support. Bias remains positive and traders are advised to buy on every decline.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:
View for the day Expected Targets Support Levels Bullish Above 12035 12128 - 12200 11820 - 11714 Source: Falcon:

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Daily Technical Report

November 30, 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 18,752 5,701 11,578 1,373 203 4,010 1,281 1,822 724 323 218 322 326 385 359 204 1,773 337 3,170 627 789 665 1,776 112 536 1,031 160 2,411 291 374 92 626 1,604 569 912 1,459 156 248 748 116 498 774 469 2,090 168 655 689 263 102 372 1,281 1,858 372 S1 18,961 5,763 11,786 1,384 205 4,165 1,295 1,886 732 326 220 329 327 395 364 206 1,791 341 3,239 633 806 682 1,796 112 542 1,056 164 2,428 294 378 93 639 1,634 573 923 1,474 158 251 757 117 506 786 473 2,111 173 662 700 271 104 374 1,290 1,886 379 PIVOT 19,083 5,798 11,910 1,397 208 4,270 1,305 1,932 739 329 222 334 329 401 369 208 1,809 343 3,281 642 816 693 1,833 113 546 1,071 166 2,444 297 381 94 648 1,651 577 933 1,489 160 253 765 118 510 795 477 2,127 176 673 707 275 105 378 1,301 1,910 384 R1 19,293 5,860 12,118 1,408 210 4,425 1,319 1,996 746 333 225 342 330 411 374 211 1,827 347 3,350 647 832 711 1,853 114 553 1,097 169 2,461 301 385 96 661 1,680 581 944 1,504 162 256 774 119 518 807 480 2,147 181 680 718 283 107 380 1,309 1,938 392 R2 19,415 5,896 12,243 1,421 212 4,529 1,329 2,042 754 336 227 347 332 417 379 213 1,844 350 3,393 656 842 721 1,890 115 557 1,111 171 2,476 304 389 97 671 1,697 585 954 1,520 164 257 782 120 523 816 484 2,163 184 691 725 287 108 384 1,320 1,962 397

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Daily Technical Report

November 30, 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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