Daily Technical Report

May 10, 2013

Sensex (19939) / NIFTY (6050)

Yesterday, indices opened marginally higher in-line with global cues and traded within a narrow range during the first half. Subsequently, a correction during the last hour of trade led the index to close in the red. During the session, Healthcare, Metal and Realty sectors were among the major losers; whereas the IT and Teck counters outperformed our benchmark indices. The advance to decline ratio was in favor of declining counters. (A=1079 D=1322) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19170/ 5809 and 19371/ 5879 levels, respectively. The weekly ADX (9) indicator and the RSI-Smoothened oscillator have signaled a positive crossover.
Source: Falcon:

Trading strategy: Actionable points:

During yesterdays session, indices traded within a narrow range and remained lackluster for most part of the session. In our previous report, we had mentioned a Hanging Man Japanese candlestick pattern, which is still intact and there is no significant change in the overall chart structure. Hence, we reiterate our view that if indices sustain below Wednesdays low of 19851 / 6024, then we may witness a corrective move towards 19743 19542 / 5993 5930 levels. Conversely, any sustainable close beyond yesterdays high of 20058 / 6085 would negate the pattern and indices may then rally towards 20204 / 6112. We continue to advise positional traders to book at least partial profits and maintain strict stop losses for remaining long positions.
View Expected Targets Resistance Levels Bearish Below 6024 5980 - 5930 6072 - 6111

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Daily Technical Report

May 10, 2013

Bank Nifty Outlook - (12596)

Yesterday, Bank Nifty opened on a flat note in line with our benchmark indices and traded in a narrow range throughout the session to close with a loss of 0.37%. As there is no major change in the chart structure we reiterate our view that only a sustainable move below 12514 levels would lead to a short term loss of momentum in the index. In this scenario the index is likely to drift lower towards 12400 12330 levels. On the upside 12720 12780 levels are likely to act as resistance for the day. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected Targets Resistance Levels

Bearish below 12514 12400 12330 12720 - 12780 Source: Falcon:

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Daily Technical Report

May 10, 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 19,812 6,014 12,442 1,199 180 4,394 1,423 1,798 669 319 190 403 301 393 305 231 1,959 334 2,989 738 861 681 1,653 102 582 1,133 151 483 2,341 340 308 73 715 1,524 706 926 1,639 120 154 317 710 111 430 805 379 2,204 160 918 291 93 311 1,475 1,968 S1 19,876 6,032 12,519 1,207 184 4,532 1,439 1,812 685 322 193 406 303 397 307 233 1,973 337 3,008 754 871 686 1,664 103 583 1,143 153 486 2,351 342 313 74 719 1,543 716 937 1,649 122 155 319 746 112 434 812 391 2,248 161 933 296 93 313 1,486 1,985 PIVOT 19,967 6,058 12,619 1,217 186 4,729 1,463 1,835 697 325 195 410 305 402 310 236 1,995 341 3,024 769 886 693 1,682 103 586 1,154 155 490 2,360 344 322 75 725 1,559 727 949 1,667 126 156 321 770 114 438 822 402 2,287 163 959 300 94 318 1,495 1,997 R1 20,030 6,076 12,696 1,224 189 4,867 1,479 1,849 712 328 198 413 307 406 312 239 2,010 344 3,043 785 895 697 1,694 104 587 1,164 157 493 2,370 346 326 76 729 1,578 737 960 1,677 128 158 324 807 115 442 828 414 2,331 165 974 304 95 320 1,507 2,014 R2 20,122 6,103 12,796 1,234 192 5,064 1,504 1,872 724 331 201 416 309 411 315 242 2,032 348 3,059 800 910 704 1,712 105 590 1,175 159 498 2,379 348 335 78 734 1,594 748 972 1,695 131 159 326 831 116 446 838 425 2,370 167 1,000 308 95 325 1,515 2,026

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Daily Technical Report

May 10, 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 Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

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