Daily Technical Report

April 25, 2013

Sensex (19179) / NIFTY (5837)

On Tuesday, our benchmark indices opened marginally higher in-line with mixed global cues but faced tremendous selling pressure for most part of the session. A sharp short covering rally towards the fag end led indices to end the session with very nominal gain. During the day, Capital Goods, Consumer Durables and Realty counters were among the major losers; whereas Health Care, IT and Oil & Gas sectors ended with marginal gains. The advance to decline ratio was in favor of declining counters (A=1134 D=1227) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19028 / 5764 and 18805 / 5694 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19050 / 5767 and 18691 / 5667, respectively. The Lower Top - Lower Bottom formation on the weekly chart is still intact. The weekly momentum oscillators and daily 5 & 20 EMA have signaled a positive crossover. The 61.8% Fibonacci retracement level of the fall from 20204 / 6112 to 18144 / 5477 is placed at 19416 / 5870.
Source: Falcon:

Actionable points:
View Resistance levels Support level Neutral 5850 - 5870 5789

Trading strategy:
In our previous report, we had mentioned that indices are hovering around 19416 / 5870, which is the 61.80% Fibonacci retracement level of the fall from 20204 / 6112 to 18144 / 5477. Hence, a minor correction / consolidation was expected. The price action seen in the previous session has resulted in formation of 'Hanging Man' Japanese candlestick pattern. The said pattern has a bearish implication when seen at the resistance level but needs confirmation in the form of closing below the low of the candle which is 19042 / 5791. In this scenario we may see some further correction and indices may fall towards the support levels of 18950 - 18870 / 5765 - 5732. On the flipside, positive placement of weekly oscillators and '3 & 8 EMA' are still intact. The impact of these evidences would be seen once indices sustain above 19416 / 5870. In this scenario, indices may test 19755 / 5971. Traders are advised to trade with caution in the coming session as the markets are likely to trade with higher volatility on account of April month derivative expiry.

www.angelbroking.com

Daily Technical Report

April 25, 2013

Bank Nifty Outlook - (12543)

On Tuesday, Bank Nifty too opened marginally higher in-line with the benchmark indices but traded with a negative bias for most part of the session. Considering oversold position of hourly momentum oscillators, we had mentioned the possibility of a minor intraday correction or sideways movement in the index. The daily chart of Bank Nifty too depicts a 'Hanging Man' pattern. Hence, the index may experience further weakness if it stays below Tuesdays low of 12333. In this case, index may slide lower to test 12242 / 12112 levels. Conversely, a sustainable move beyond Tuesdays high of 12606 would negate the bearish implications of the candlestick pattern and may push the Bank Nifty higher to test 12724 / 12780 levels.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance level Support Levels Neutral 12606 12724 12242 12112 Source: Falcon:

www.angelbroking.com

Daily Technical Report

April 25, 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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 18,976 5,772 12,221 1,194 182 4,574 1,396 1,732 663 290 183 401 283 390 304 240 1,869 322 2,772 714 814 668 1,502 94 470 1,110 152 443 2,233 313 314 75 661 1,465 670 866 1,503 127 147 315 753 108 445 779 365 2,222 147 913 274 93 303 1,410 1,842 S1 19,078 5,804 12,382 1,205 184 4,612 1,420 1,769 678 295 186 407 286 393 308 244 1,885 326 2,821 723 826 679 1,538 95 475 1,136 154 452 2,248 315 322 77 676 1,485 675 876 1,520 128 148 321 766 109 452 791 372 2,255 149 932 278 94 306 1,420 1,854 PIVOT 19,144 5,824 12,494 1,214 186 4,653 1,438 1,792 690 301 189 411 290 395 312 248 1,901 332 2,853 731 836 689 1,559 96 482 1,150 157 460 2,259 317 335 79 686 1,509 680 887 1,532 129 149 326 776 109 458 799 380 2,299 153 943 281 95 309 1,434 1,867 R1 19,246 5,857 12,655 1,225 188 4,691 1,462 1,828 705 306 192 417 293 398 317 252 1,918 336 2,902 739 847 700 1,594 98 487 1,176 159 469 2,274 319 343 80 702 1,529 685 897 1,549 130 150 332 789 110 465 811 387 2,332 155 961 285 96 312 1,444 1,879 R2 19,312 5,877 12,767 1,234 189 4,733 1,480 1,851 717 312 196 421 296 401 321 257 1,934 342 2,934 747 857 710 1,615 99 494 1,191 161 477 2,285 321 356 82 712 1,553 690 908 1,561 131 151 338 798 111 471 818 395 2,376 158 972 289 96 315 1,458 1,892

www.angelbroking.com

Daily Technical Report

April 25, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000

Sebi Registration No: INB 010996539

www.angelbroking.com