Daily Technical Report

February 28, 2013

Sensex (19152) / NIFTY (5797)

Yesterday's trading session opened higher as suggested by the SGX Nifty and a strong up move post midsession led indices to close well inside the positive territory. During the day, most of the sectors ended on a gaining side except for IT and Teck counters. It was evident that traders did not want to go into the Budget session with heavy positions and some degree of short covering was seen in major index counters. The advance to decline ratio was marginally in favor of advancing counters (A=1441 D=1359) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19514 / 5898 and 19203 / 5820 levels, respectively. The Nifty has broken down from the Upward Sloping Trend Line (as shown in the chart). The weekly RSI Smoothened and 3 & 8 EMA are signaling a negative crossover.

Source: Falcon:

Actionable points: Trading strategy:

View SELL BELOW 5748 5700 5650 5839 - 5875

Despite positive opening indices were struggling at higher level during the initial hour of the trade. However, post midsession, we witnessed a bounce which led indices to close in the positive territory. Yesterday's movement was within Tuesdays price range and has thus led to the formation of an Inside day Japanese candlestick pattern. Hence, we continue to mention that Tuesdays high of 19294 / 5839 would act as an immediate resistance in the coming trading sessions. Only a sustainable move beyond this level would push indices higher to test 19514 - 19620 / 5900 - 5938. On the flipside, 18976 / 5748 remains to be a crucial support level for the market. A violation of this level may trigger strong pessimism and lead to fall towards 18850 18600 / 5700 5650 levels. The coming trading session is likely to trade with high volatility on account of announcement of Union Budget 2013 and derivatives expiry. Hence, we advise traders to remain light on positions and avoid taking undue risks.

Expected target Resistance levels

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Daily Technical Report

February 28, 2013

Bank Nifty Outlook - (11931)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session to close with a gain of 0.72%. On the daily chart we are witnessing a Bullish Harami candlestick pattern at 61.8% Fibonacci retracement of the rise from 11125 12961. The mentioned pattern requires confirmation in the form of a close above 11971 level. A close above the 11971 level may push the index higher towards 12140 12190 level. On the downside 11800 11719 levels are likely to act as support for the day. Traders holding short positions in the index should maintain a strict stop loss of 12140. The mentioned candlestick pattern would be negated only if the index closes below the 11808 mark.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support levels Neutral 11971 - 12140 - 1210 11800 - 11719 Source: Falcon:

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Daily Technical Report

February 28, 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 18,906 5,720 11,780 1,285 193 4,285 1,351 1,884 714 311 201 367 293 358 306 265 1,717 323 2,965 701 768 633 1,633 98 448 1,060 147 2,874 288 347 67 641 1,354 579 832 1,353 149 293 819 107 381 819 445 2,179 156 507 778 277 96 342 1,462 1,881 409 S1 19,029 5,758 11,855 1,294 195 4,321 1,376 1,924 725 316 204 373 298 361 309 271 1,737 328 2,990 710 774 638 1,653 100 451 1,072 152 2,892 292 353 70 647 1,382 588 862 1,381 152 304 828 108 390 825 454 2,196 158 513 789 282 96 350 1,473 1,891 414 PIVOT 19,121 5,788 11,913 1,304 197 4,373 1,393 1,950 732 321 206 379 305 365 314 275 1,753 335 3,025 721 781 646 1,680 102 455 1,080 155 2,920 294 358 71 656 1,402 595 881 1,405 153 311 834 110 404 833 461 2,214 160 524 799 286 97 354 1,488 1,902 418 R1 19,244 5,827 11,988 1,313 200 4,409 1,417 1,990 744 326 208 386 310 369 317 282 1,772 340 3,049 730 787 651 1,700 104 458 1,092 160 2,938 298 364 74 662 1,429 605 911 1,433 155 322 843 111 413 839 469 2,232 163 531 809 291 98 361 1,498 1,911 423 R2 19,336 5,857 12,046 1,323 202 4,461 1,434 2,016 751 330 210 391 317 373 322 286 1,788 347 3,084 740 794 659 1,728 105 463 1,100 163 2,966 301 370 75 671 1,449 611 930 1,458 157 329 850 113 427 847 476 2,250 165 542 820 296 99 366 1,514 1,922 428

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Daily Technical Report

February 28, 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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