Daily Technical Report

June 05, 2012

Sensex (15988) / NIFTY (4848)

Yesterday, we witnessed a weak opening on the back of extremely negative clues from European and US bourses. Further, markets remained under pressure for the initial hour of the session. However, indices bounced back sharply from the lows to close at the highest point of the day. On sectoral front, Capital Goods, Realty, Oil & Gas and Banking counters bounced back sharply; whereas Consumer Durable and FMCG ended on a losing side. The advance to decline ratio was strongly in favor of declining counters (A=1204 D=1449) (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 16360 / 4960, respectively. The 20-Week EMA is placed at 16840 / 5100 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 hourly RSI-Smoothened signaling a positive crossover. oscillator is

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Expected target Support Levels Bullish above 4861 4895 - 4925 4814 - 4770

Trading strategy: Indices opened significantly lower during yesterday's session to test the 78.6% Fibonacci retracement level as mentioned above. Markets found decent support near this level and bounced back sharply to close at the highest point of the day. Going forward, hourly 20 EMA placed at 16026 / 4861 would act as an important resistance level. A sustainable move beyond this level would further augment the bullish momentum. In this case, indices are likely to rally towards 16147 - 4895 / 16240 - 4925 levels.

Conversely, yesterday's low of 15748 / 4770 holds as a key support level for the market. A violation of this level may result in a fall towards 15678 / 4695 levels.

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Daily Technical Report

June 05, 2012

Bank Nifty Outlook - (9362)

Yesterday, Bank Nifty opened with a downside gap but buying interest near support levels led the index to close in the positive territory. We had mentioned in our previous that momentum oscillators on the hourly chart are in an oversold condition and possibility of a bounce back cannot be ruled out. Looking at the current chart structure and Piercing Line candlestick pattern on the daily chart we expect volatility in coming trading session. If the index manages to sustain above yesterdays high of 9406 then it is likely to rally further towards 9493 9526 levels. On the downside 9245 9157 levels may act as support in coming trading session. Actionable points:
View Resistance Levels Support Levels Neutral 9406 9493 - 9526 9245 - 9157

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

June 05, 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 15,663 4,742 9,010 1,092 145 3,593 925 1,433 627 285 201 671 290 300 312 163 1,578 309 2,177 471 633 480 1,790 111 403 756 115 2,324 226 405 58 525 1,080 631 1,039 140 240 702 101 474 664 405 88 1,945 173 611 87 554 212 88 383 1,189 389 S1 15,829 4,798 9,186 1,108 148 3,638 956 1,465 653 290 204 694 298 303 316 175 1,600 314 2,210 482 636 488 1,814 113 408 773 118 2,355 228 411 61 536 1,127 641 1,053 142 247 721 103 482 678 421 90 1,995 175 638 88 559 221 89 393 1,201 393 PIVOT 15,915 4,826 9,287 1,121 150 3,706 976 1,485 669 295 206 707 305 305 319 181 1,623 322 2,242 489 639 493 1,829 115 414 784 120 2,376 231 418 63 543 1,153 646 1,066 143 251 732 104 487 688 433 91 2,025 178 657 89 564 226 90 400 1,208 398 R1 16,082 4,881 9,463 1,138 153 3,752 1,008 1,516 695 300 208 730 314 307 323 192 1,645 327 2,275 500 642 501 1,853 117 418 800 122 2,406 233 423 67 554 1,200 655 1,080 145 258 751 105 494 702 449 93 2,075 180 683 90 570 234 91 410 1,221 401 R2 16,168 4,909 9,563 1,150 155 3,820 1,027 1,536 710 306 210 743 320 310 327 199 1,667 334 2,308 507 644 507 1,868 119 424 811 124 2,427 236 431 68 561 1,226 660 1,093 147 262 763 106 499 711 461 95 2,105 183 702 91 575 239 93 417 1,228 406

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Daily Technical Report

June 05, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

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

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