Daily Technical Report

July 23 , 2013

Sensex (20159) / NIFTY (6032)

The opening session of the week began on a subdued note considering quiet trading mood across the globe. During the first half, indices managed to inch marginally higher but eventually closed with neutral bias due to minor profit booking towards the end of the session. During the session, the IT, Auto and Banking counters traded in the positive territory; whereas the Capital Goods and Oil & Gas sectors closed with a negative bias. The Advance to Decline ratio was in favor of declining counters. (A=1023 D=1245) (Sourcewww.bseindia.com )

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19440/ 5874 and 18603 / 5626 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 19682 / 5918 and 19528 / 5896, respectively. The weekly momentum oscillators are still positively poised. The 78.60% Fibonacci retracement level of the fall from 20444 / 6229 to 18467/ 5566 is placed at 20021 / 6088.

Source: Falcon:

Trading strategy: Yesterday's price action was almost a replica of the Friday's session as indices trimmed their early gains and ended on a flat note. A minor correction during the second half took place mainly on the back disappointing set of 1QFY2014 numbers from the index heavyweight, Larsen & Toubro. Since there is no major change in the chart structure, we reiterate our view that our benchmark indices may rally towards 20308 20444 / 6134 6230 if they sustain above last weeks high of 20257 / 6067. On the flipside, Fridays low of 19956 / 5974 would remain to be a crucial support in the coming trading sessions.

Actionable points:
View Resistance Levels Support Level Neutral 6067 6088 5974

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Daily Technical Report

July 23, 2013

Bank Nifty Outlook - (11087)

Friday's weak session was followed by a quiet opening in the Bank Nifty. Few heavyweights like, RIL and Larsen & Toubro put pressure on our benchmark indices but the Banking counters bounced and supported the market. There is no significant change in the price structure post yesterdays session. Considering oversold position of daily 'Stochastic' oscillator, the possibility of near term bounce cannot be ruled out if Bank Nifty stays above 11264. However, on the flipside, Wednesdays low of 10829 would act as a critical support for the Bank Nifty.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Resistance Level Support Levels

Neutral 11264 10829 10782

Source: Falcon:

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Daily Technical Report

July 23, 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 19,964 5,974 10,872 1,205 188 4,823 1,164 1,918 558 322 152 334 300 406 292 163 2,273 324 2,764 866 782 671 1,730 101 672 948 122 433 2,792 365 206 48 673 841 876 864 1,418 106 141 299 618 110 306 892 372 1,793 143 1,052 290 92 228 1,714 1,857 S1 20,062 6,003 10,980 1,223 193 4,937 1,182 1,952 574 329 157 340 303 409 296 166 2,296 327 2,786 878 806 676 1,760 103 685 961 123 446 2,834 367 209 49 687 871 883 883 1,433 107 142 303 632 110 312 900 379 1,809 145 1,081 294 93 231 1,730 1,888 PIVOT 20,163 6,033 11,056 1,250 200 5,081 1,196 1,980 584 333 165 347 308 413 299 169 2,331 329 2,806 889 820 682 1,781 104 693 969 125 454 2,865 369 211 49 695 930 895 894 1,450 108 143 310 640 111 319 908 386 1,822 146 1,097 297 93 236 1,745 1,912 R1 20,261 6,063 11,163 1,269 205 5,194 1,214 2,014 600 340 170 353 312 416 303 173 2,354 333 2,828 901 844 687 1,811 106 705 982 127 467 2,907 371 214 50 709 960 902 913 1,465 109 144 314 653 112 324 916 394 1,838 148 1,126 301 94 239 1,761 1,943 R2 20,362 6,093 11,240 1,296 212 5,339 1,229 2,042 611 344 179 359 316 421 306 175 2,388 335 2,848 912 858 693 1,832 108 713 990 129 475 2,937 373 216 51 717 1,018 913 924 1,481 110 146 321 661 113 332 924 401 1,851 149 1,142 305 95 244 1,775 1,966

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Daily Technical Report

July 23, 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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