Daily Technical Report

May 16, 2013

Sensex (20213) / NIFTY (6147)

Yesterday, our benchmark indices opened slightly higher as suggested by the SGX Nifty. Bulls then built up on these early gains and momentum accelerated as the day progressed. Eventually, indices ended the session almost at the highest point of the day. For the day all the sectors ended with gains amongst which Realty, Banking and Capital Goods stocks were among the major gainers. The advance to decline ratio was strongly in favor of advancing counters. (A=1466 D = 973)(Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19236/ 5846 and 19541/ 5952 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19212/ 5836 and 18846 / 5724, respectively.
Source: Falcon:

Trading strategy:
After a range bound session on Tuesday, indices started yesterday's session on a positive note. Right from the first trade, indices kept moving higher on the back of tremendous buying interest. This has eventually resulted in a breakout and closing well above the 'Horizontal Line' (as shown in the chart). Indices have now registered a new '52 week high' on closing basis. Considering current strong optimism, we expect our market to move higher towards 20438 - 20700 / 6200 - 6280 levels. On the flipside, 20096 - 19938 / 6116 - 6060 would provide decent intraday support for our market. Considering the daily chart, we are of the opinion that Tuesday's low of 19652 / 5970 (also coincides with hourly '89 EMA') has now become a strong near term base for our market. Hence, only a violation of this level would result in loss of near term optimism.
View Expected targets Support Levels Bullish above 6157 6200 - 6280 6116 - 6060

Actionable points:

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Daily Technical Report

May 16, 2013

Bank Nifty Outlook - (13078)

Yesterday, Bank Nifty opened on an optimistic note and gained strength as the day progressed to close with a gain of 3.93%. In this process the index registered a new 52 Week high in line with our benchmark indices. The indices are now a blink away from its life time high of 13300 which should act as a minor resistance in coming trading sessions. Some consolidation near these levels is likely and thus we advise traders to book partial profits in their long positions and wait for a dip to create fresh longs. For the day 13300 levels are likely to act as resistance and 12961 12876 levels are likely to act as support. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 13300 12961 12876 Source: Falcon:

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Daily Technical Report

May 16, 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 19,641 5,969 12,488 1,195 184 4,713 1,450 1,759 692 312 188 406 291 392 293 228 2,018 335 2,979 731 859 683 1,671 105 582 1,134 149 483 2,335 333 299 73 712 1,506 744 933 1,690 125 153 323 748 112 438 795 385 2,273 157 951 298 93 303 1,439 1,943 S1 19,927 6,058 12,783 1,212 185 4,769 1,479 1,791 710 317 190 411 293 402 297 235 2,042 338 3,006 738 885 699 1,687 107 584 1,163 154 499 2,348 338 306 74 740 1,543 763 958 1,715 127 155 329 785 113 452 807 397 2,328 161 962 303 93 306 1,455 1,958 PIVOT 20,084 6,108 12,941 1,224 186 4,808 1,497 1,815 720 321 191 415 297 407 299 239 2,058 340 3,038 747 900 707 1,702 108 586 1,181 156 508 2,360 341 311 75 755 1,564 774 976 1,736 128 156 333 806 114 459 814 403 2,360 163 969 308 94 308 1,466 1,973 R1 20,371 6,196 13,236 1,241 188 4,864 1,526 1,846 738 326 192 420 299 417 303 246 2,082 343 3,065 754 926 723 1,718 110 588 1,209 161 523 2,373 346 317 77 783 1,601 793 1,001 1,761 130 159 339 843 115 472 826 415 2,415 166 981 313 95 310 1,483 1,988 R2 20,528 6,246 13,394 1,252 189 4,903 1,544 1,870 748 330 193 424 302 423 305 251 2,098 345 3,097 763 941 732 1,733 111 590 1,227 163 532 2,385 349 322 78 798 1,621 804 1,018 1,782 131 160 342 863 117 480 833 421 2,448 168 988 317 95 313 1,493 2,003

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Daily Technical Report

May 16, 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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