Daily Technical Report

February 07, 2013

Sensex (19640) / NIFTY (5959)

Yesterday, indices opened higher considering overnight rally in US as well as European bourses but struggled to sustain at higher levels. As a result, all the early gains got wiped out and eventually the session closed on a flat note. On sectoral front, Capital Goods, PSU and Power counters were among the top losers. The Realty, IT and Teck sectors outperformed during the session. The advance to decline ratio was in just marginally favor of advancing counters (A=1165 D=1017) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19820 / 6006 and 19178 / 5819 levels, respectively. On the daily chart, the benchmark indices are facing resistance near the Upward Sloping Trend Line drawn by joining the highs of October 5, 2012 and January 18, 2012. The weekly RSI momentum oscillator as well as the Daily ADX (9) indicator are now signaling a negative crossover. The Hanging Man Japanese Candlestick pattern on the weekly chart has been confirmed.

Source: Falcon:

Actionable points:
View Expected Target Resistance Levels Bearish Below 5940 5897 5972 - 6039

Trading strategy:
Indices opened higher and precisely tested hourly 20-EMA, which acted as a strong resistance for the entire trading session. Eventually traders pared down all their opening gains. Going forward, we continue to mention possibility of further down move if indices sustain below 19596 / 5940. In this case, our indices may slide towards their next support level of 19406 / 5897. On the flipside, yesterdays high of 19765 / 5990 would act as immediate resistance in coming trading session. Any move beyond this level is likely to attract short covering by market participants.

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Daily Technical Report

February 07, 2013

Bank Nifty Outlook - (12418)

In line with our benchmark indices, the Bank Nifty too closed flat near the support level of 12415 during yesterdays trading session. Along with the daily chart, the momentum oscillators (RSI & RSI-Smoothened) on the weekly chart too are signaling negative crossovers and a possibility of further decline in the index in coming trading sessions. Hence, we continue to mention that the index may test the lower levels of 12265 12140 - 12000 once it sustains below yesterdays low of 12397. However, due to oversold condition of momentum oscillators on hourly charts, the possibility of some sideways consolidation or a minor pullback from current levels cannot be ruled out. On the upside, 12525 12633 levels, are likely to act as resistance for the day.

Exhibit 2: Bank Nifty Weekly Chart

Actionable points:
View Expected Targets Resistance Levels Bearish Below 12397 12265 12140 - 12000 12525 - 12633 Source: Falcon:

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Daily Technical Report

February 07, 2013

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 19,517 5,930 12,318 1,306 201 4,582 1,448 2,047 780 321 204 404 319 396 332 268 1,871 338 2,960 664 794 632 1,750 112 444 1,137 156 2,741 299 407 70 675 1,480 590 872 1,597 148 314 866 108 430 864 512 2,314 175 616 737 281 97 392 1,356 1,882 398 S1 19,578 5,945 12,368 1,320 204 4,603 1,454 2,064 788 324 206 411 322 401 337 271 1,885 341 2,995 667 801 636 1,765 113 449 1,146 158 2,759 302 416 71 685 1,497 595 879 1,612 150 318 873 109 433 870 517 2,331 177 621 743 283 98 395 1,363 1,922 402 PIVOT 19,673 5,968 12,447 1,331 205 4,634 1,462 2,091 796 327 210 417 324 405 346 274 1,902 344 3,017 672 810 641 1,787 114 456 1,160 160 2,773 304 421 75 691 1,521 598 886 1,626 152 324 885 110 438 876 521 2,360 179 630 751 287 99 399 1,369 1,951 406 R1 19,734 5,982 12,496 1,345 208 4,655 1,468 2,109 804 330 212 424 328 410 351 277 1,916 347 3,053 675 816 645 1,802 115 461 1,169 162 2,791 307 430 76 701 1,537 602 893 1,641 154 328 892 110 441 882 526 2,377 181 636 757 290 100 401 1,377 1,991 410 R2 19,829 6,006 12,575 1,356 209 4,686 1,476 2,136 813 334 216 430 330 414 360 280 1,934 350 3,075 680 825 651 1,824 117 469 1,182 164 2,806 309 435 79 707 1,561 606 900 1,655 157 334 903 111 446 889 530 2,405 184 644 766 293 101 405 1,383 2,020 414

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Daily Technical Report

February 07, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@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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