Daily Technical Report

August 13, 2013

Sensex (18947) / NIFTY (5612)

The week started off on a cheerful note as our market opened higher in-line with strong global cues. During the initial hour indices pared down their early gains and slipped marginally in the negative territory. However, strong bullish momentum in the second half led to a close with decent gains. The Metal counters once again surged higher during the session along with the FMCG, Health Care and Capital Goods stocks; whereas Banking and Oil & Gas sectors remained under pressure. The Advance to Decline ratio was strongly in favor of advancing counters. (A=1438 D=822) (Source www.bseindia.com )

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19407/ 5837 and 18618 / 5622 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19308 / 5749 and 19352 / 5813, respectively. The monthly RSI-Smoothened oscillator is negatively poised; whereas the daily momentum oscillators are placed well inside the oversold territory. Source: Falcon: We are observing a Triangular price pattern on the daily chart. (Nifty has broken down from the pattern whereas Sensex is still within the boundaries of the pattern). The Niftys weekly chart now depicts a Lower Top - Lower Bottom formation on a closing basis.

Actionable points:
View Expected targets Support Levels Bullish above 5644 5664 - 5720 5557 5486

Trading strategy: As expected, the opening session of the week began on a positive note. We are witnessing strong pullback rallies in selective counters of the index, which kept Nifty well inside the positive territory for most part of the session. The daily momentum oscillators are now signaling a positive crossover. Thus going forward if the Nifty sustains above yesterdays high 5644 we are likely to see a further up move and the current bounce back in the Index may get extended towards 5664 5720. On the contrary, a close below yesterdays low of 5557 may trigger selling pressure and as a result, the Nifty may retest last weeks low of 5486.

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Daily Technical Report

August 13, 2013

Bank Nifty Outlook - (9711)

Yesterday, the Bank Nifty too opened higher in-line with our benchmark indices; but the price action in this index was completely contradictory as Bank Nifty shed more than a percent as compared to previous closing. Banking heavyweight, SBI posted lower-than-expected 1QFY2014 numbers and the stock remained under pressure throughout the day along with other banking counters. Going forward, we continue to mention that the momentum oscillators are placed deep inside the oversold territory. Hence, possibility of a near term bounce cannot be ruled out. However, technically speaking, the first sign of probable bounce would be seen only if index stays above 9910 level. In this case, we can expect a relief rally towards 10118 10220. On the flipside, last weeks low of 9660 remains to be a key support level for the index. Any sustainable move below this level may result in further slide towards 9619 9545 levels. Actionable points:

Exhibit 2: Bank Nifty Weekly Chart

View Resistance Levels Support Levels

Neutral 9910 10118 9660 9619 Source: Falcon:

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Daily Technical Report

August 13, 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 18,666 5,518 9,560 1,133 175 410 1,025 1,760 490 328 111 267 288 404 264 129 2,114 294 2,340 891 728 592 1,824 88 592 844 102 342 2,950 320 201 30 639 771 795 842 1,350 100 132 268 505 93 341 821 337 1,522 129 507 275 73 213 1,788 1,586 S1 18,806 5,565 9,636 1,151 177 424 1,048 1,784 504 335 115 276 295 410 269 134 2,147 297 2,375 912 749 597 1,865 91 604 855 105 358 2,978 328 214 31 644 784 807 852 1,365 104 135 273 520 94 354 833 344 1,564 132 524 278 74 225 1,801 1,637 PIVOT 18,937 5,605 9,745 1,162 179 432 1,074 1,801 514 340 119 281 299 419 274 138 2,191 302 2,414 924 766 604 1,891 93 612 873 107 373 2,999 333 222 32 652 795 818 863 1,387 107 138 277 535 96 364 853 350 1,617 135 538 282 76 232 1,821 1,678 R1 19,077 5,652 9,821 1,180 181 445 1,097 1,825 528 347 124 289 306 425 279 143 2,225 305 2,448 945 787 609 1,932 96 624 885 111 389 3,027 340 235 32 658 809 830 873 1,402 111 141 282 550 97 377 866 356 1,658 138 555 285 77 244 1,834 1,730 R2 19,208 5,692 9,930 1,191 183 453 1,123 1,842 538 351 127 294 310 435 283 147 2,269 311 2,488 957 804 616 1,958 98 632 903 113 404 3,048 345 243 33 666 820 841 884 1,424 114 143 286 565 99 388 885 363 1,711 141 569 289 79 251 1,854 1,771

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Daily Technical Report

August 13, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@angelbroking.com Website: www.angelbroking.com

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

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