Daily Technical Report

December 13, 2012

Sensex (19355) / NIFTY (5888)

We witnessed a flat opening yesterday in-line with quiet global cues. During the day, the index traded with extreme choppiness, although the overall range was 50 points. The Consumer Durables and the Auto sectors held indices above intraday support; whereas the Capital Goods and the Metal counters continuously imposed selling pressure on our market. The advance to decline ratio was marginally in favor of declining counters (A=1433 D=1494) (Source www.bseindia.com).

Exhibit 1: Nifty Hourly Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18980 / 5770 and 18390 / 5586 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing high of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level . The 78.60% Fibonacci retracement level of the fall from November 5, 2010 (the high was 21109 / 6339) to December 23, 2011 (the low was 15135 / 4531) is at 19812 / 5945. On the daily chart, we are observing a Hanging Man candlestick pattern, occurred on December 6, 2012.

Source: Falcon:

Actionable points:
View for the day Expected Targets Resistance Levels Bearish below 5865 5820 - 5800 5925 - 5965

Trading strategy:
Yesterdays session was a nightmare for the day traders as we witnessed a very choppy session. Just before the midsession, indices recouped their early losses on the back of better-than-expected October month IIP numbers but eventually closed in the negative territory. We reiterate our view that a move below Tuesdays low of 19285 / 5865 would confirm Lower Top Lower Bottom formation in hourly chart. In this scenario, Indices may slide down towards the next support zone of 19100 - 19050 / 5820 5800, which coincides with the 20-day EMA as well as 38.20% Fibonacci retracement level of the current up move from 18256 / 5548 to 19612 / 5965. On the flipside, 19479 19612 / 5925 5965 levels are likely to act as a strong resistance in coming trading session.

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Daily Technical Report

December 13, 2012

Bank Nifty Outlook - (12302)

Yesterday, In line with the benchmark indices the Bank Nifty too opened on a flat note but traded with extreme choppiness to finally close with a loss of 0.35%. The index is still trading above the previously mentioned support trend line formed by joining the intraday lows of 12053 and 12142. Also we are now witnessing a negative crossover in RSI momentum oscillator on the daily chart. The effect of the mentioned tool would be seen if the index sustains below yesterdays low of 12271 and the Bank Nifty is then likely to drift towards 12142 12048 levels. On the upside 12300 12388 levels are likely to act as resistance for the day.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:
View for the day Expected targets Resistance Levels Bearish Below 12271 12142 12048 12300 - 12388 Source: Falcon:

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Daily Technical Report

December 13, 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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,222 5,845 12,205 1,402 206 4,259 1,305 1,991 806 303 225 347 312 406 352 214 1,847 340 3,072 603 839 685 1,845 116 516 1,091 172 2,265 302 402 102 648 1,620 596 923 1,448 150 256 810 116 494 813 506 2,268 184 668 712 272 105 391 1,209 1,887 364 S1 19,289 5,867 12,254 1,411 208 4,290 1,315 2,024 813 307 229 350 315 411 354 215 1,860 344 3,113 610 849 690 1,867 117 523 1,102 174 2,281 304 407 103 654 1,634 601 936 1,462 152 258 818 117 498 823 516 2,282 186 676 719 274 106 393 1,218 1,916 369 PIVOT 19,384 5,896 12,320 1,427 211 4,315 1,323 2,044 822 312 235 356 318 415 357 218 1,873 349 3,175 620 865 693 1,881 119 535 1,117 176 2,303 305 415 105 663 1,655 606 945 1,477 153 261 829 117 503 829 523 2,300 188 681 724 277 107 397 1,229 1,956 377 R1 19,450 5,917 12,368 1,436 213 4,346 1,334 2,077 829 317 238 360 321 420 359 220 1,886 353 3,215 627 875 697 1,903 120 542 1,129 178 2,319 307 421 107 670 1,668 611 958 1,491 155 263 836 118 507 838 533 2,313 190 689 731 280 108 399 1,238 1,985 383 R2 19,545 5,946 12,434 1,452 215 4,371 1,341 2,097 838 322 244 366 324 424 362 222 1,898 359 3,278 637 891 700 1,917 123 553 1,144 180 2,340 308 428 108 679 1,689 615 967 1,506 156 266 848 119 512 844 540 2,331 192 694 737 283 109 403 1,249 2,025 391

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Daily Technical Report

December 13, 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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