Daily Technical Report

August 23, 2012

Sensex (17847) / NIFTY (5413)

Yesterday, our markets opened marginally lower on the back of weak closing in the US markets and eventually closed marginally in the negative territory. On sectoral front, Realty, Power and TECK counters remained under pressure during yesterdays session; whereas Health Care and Auto sectors ended with a nominal gain. The advance to decline ratio was in favor of declining counters (A=1333 D=1458) (Source www.bseindia.com). Formation On the weekly chart, the indices have precisely closed at the Downward Sloping Trend Line resistance near 17802 / 5391 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and the 200-day SMA are placed at 17400 / 5296 and 16900 / 5113 levels, respectively. A weekly closing above 17727 / 5386 level would confirm a Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Targets

Bullish Above 5434 5450 5500 5342

Trading strategy: Despite a strong closing above 5400 mark on Monday, our markets could not continue the same momentum during yesterdays session. Going forward, our view remains intact as there is negligible change in the price structure after incorporating yesterdays session. We reiterate that traders can remain long on the market and trade with a positive bias. Indices are now likely to rally further and may test mentioned levels of 17950 18050 / 5450 5500 once they sustain above yesterday's high of 17912 / 5434. On the downside, Friday's low of 17622 / 5342 would provide a decent support in coming trading session.

Support Levels

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Daily Technical Report

August 23, 2012

Bank Nifty Outlook - (10472)

Yesterday, Bank Nifty opened on pessimistic note in line with our benchmark indices and gained strength as the day progressed to close in positive territory. The Tweezer Bottom candlestick still holds its bullish significance as the index is above 10354 level. Hence we continue to maintain a bullish stance on the index. On the upside, if the index sustains above yesterdays high of 10534 then it is likely to rally towards 10614 10641 levels. On the downside, the 10401 - 10354 levels will act as an important support level for the index in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected Targets Support Levels

Bullish Above 10534 10614 - 10641 10401 - 10354 Source: Falcon

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Daily Technical Report

August 23, 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 17,741 5,375 10,337 1,333 191 3,637 1,090 1,693 625 243 227 328 330 356 346 211 1,637 363 3,010 547 715 587 1,890 110 508 959 140 2,377 258 395 75 579 1,440 774 1,164 169 282 699 118 500 800 499 84 1,878 187 645 110 655 241 97 385 1,275 347 S1 17,794 5,394 10,405 1,347 192 3,665 1,099 1,709 635 246 230 339 332 358 351 213 1,657 365 3,028 550 721 592 1,913 111 510 966 141 2,405 260 400 76 586 1,448 780 1,173 170 284 704 118 517 804 505 84 1,895 189 654 111 660 245 98 389 1,284 351 PIVOT 17,853 5,414 10,469 1,359 194 3,696 1,109 1,723 642 251 233 345 333 361 354 215 1,676 367 3,049 553 728 596 1,934 113 513 974 142 2,423 261 403 77 591 1,457 786 1,190 172 287 714 119 527 810 512 85 1,914 192 661 113 667 247 99 393 1,296 354 R1 17,906 5,433 10,537 1,373 195 3,724 1,119 1,739 652 254 235 355 335 363 359 217 1,696 370 3,067 556 733 601 1,957 114 515 982 143 2,451 263 407 78 599 1,466 792 1,199 173 289 719 120 544 814 518 86 1,931 194 670 114 672 251 100 396 1,304 358 R2 17,965 5,452 10,601 1,385 196 3,755 1,129 1,753 658 259 238 361 336 366 362 220 1,716 372 3,088 559 740 605 1,978 116 518 990 145 2,468 265 410 79 604 1,475 797 1,216 175 291 728 120 554 819 525 86 1,950 197 676 116 680 253 100 400 1,317 361

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Daily Technical Report

August 23, 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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