Daily Technical Report

May 30, 2012

Sensex (16439) / NIFTY (4990)

Yesterday, our benchmark indices gained some positive momentum during the initial hours of trade but pared gains in the later half to end just below the 5,000 mark. On sectoral front, IT, Teck and Realty were among the major gainers whereas; FMCG, Consumer Durables and Healthcare counters ended on a losing side. The advance to decline ratio was strongly in of advancing counters (A=1421 D=1281) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16800 / 5070 and 16429 / 4980, respectively. The 20-Week EMA is placed at 16930 / 5130 level. Indices have taken a support near 15860 / 4766 level, which is the 78.6% Fibonacci Retracement level of the rise from 15135 / 4531 (Low on December 23, 2011) to 18524 / 5630 (High on February 22, 2012). The daily RSI Smoothened oscillator has now signaled a positive crossover in the oversold territory The candlestick pattern on the weekly chart represents another bullish Hammer. On the daily chart we are witnessing positive crossover in 3&8 EMA.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Resistance Levels Support Levels Neutral 5020 - 5050 4943 4912

Trading strategy: Yesterday, our benchmark indices witnessed a range bound activity throughout the session. On the daily chart, the momentum oscillators along with ADX (9) indicator are still positively poised. However, looking at the overbought condition of oscillators on hourly charts, chances of a minor consolidation or a pullback from current levels cannot be ruled out. Also, the SGX Nifty and other Asian markets suggest that our indices could witness a gap down opening.

In such a scenario, 16290 / 4943 to 16195 / 4912 levels can act as a decent support for the markets. Conversely, momentum on the upside would resume once indices trade convincingly above 16544 / 5020 level. On crossing this level, indices are likely to move towards 16700 16840 / 5050 5090 levels, which nearly coincide with the 200-day SMA.

www.angelbroking.com

Daily Technical Report

May 30, 2012

Bank Nifty Outlook - (9708)

Yesterday, Bank Nifty opened with an upside gap and traded in a narrow range throughout the session. The momentum oscillators on the daily chart continue with their buy signal along with positive crossover in ADX (9) indicator. However similar to the benchmark Indices we are witnessing a negative crossover in RSI Smoothened oscillator on the hourly chart which suggests that we may see some consolidation. Also, the Spinning Top candlestick pattern on the daily chart indicates indecisiveness prevailing at current levels. In coming trading session, 9847 9900 levels are likely to act as resistance and 9544 9470 levels should give some support to the Index. Actionable points:
View Resistance Levels Support Levels Neutral 9847 9900 9554 9370

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

www.angelbroking.com

Daily Technical Report

May 30, 2012 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 M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,330 4,959 9,631 1,107 141 3,781 1,009 1,480 684 296 214 682 324 304 314 184 1,679 325 2,333 489 653 496 1,842 112 411 829 121 2,357 226 447 61 546 1,187 648 1,092 143 252 739 105 516 691 459 89 2,080 181 663 95 555 267 92 407 1,206 392 S1 16,384 4,975 9,669 1,123 144 3,812 1,016 1,504 690 298 216 691 330 307 318 186 1,690 327 2,359 497 657 501 1,851 113 414 834 123 2,383 229 451 61 553 1,195 652 1,110 144 254 744 106 526 696 466 91 2,100 183 671 96 561 272 93 411 1,223 401 PIVOT 16,464 4,997 9,726 1,149 146 3,832 1,027 1,519 695 301 218 705 335 312 321 189 1,699 330 2,396 502 662 506 1,860 115 417 839 125 2,404 232 457 62 558 1,206 656 1,123 145 256 751 107 534 703 472 94 2,125 187 683 98 569 277 93 415 1,236 406 R1 16,519 5,013 9,765 1,164 149 3,863 1,035 1,544 701 303 221 714 341 315 325 190 1,710 333 2,422 511 666 511 1,869 116 419 844 127 2,430 235 461 63 565 1,214 660 1,141 146 258 756 108 544 709 478 96 2,145 189 691 99 574 282 94 420 1,253 415 R2 16,599 5,035 9,822 1,190 151 3,883 1,046 1,558 706 307 223 728 346 320 328 193 1,719 336 2,459 516 671 516 1,878 117 422 849 129 2,451 238 467 64 570 1,225 665 1,154 147 260 763 110 552 715 484 99 2,170 192 704 100 582 287 95 424 1,265 420

www.angelbroking.com

Daily Technical Report

May 30, 2012
Research Team Tel: 022 - 39357800 E-mail: research@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 endeavours 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 Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst 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) 3952 6600

Sebi Registration No: INB 010996539

www.angelbroking.com