Daily Technical Report

July 26, 2012

Sensex (16846) / NIFTY (5110)

Yesterday, we witnessed a flat opening in-line with mixed global cues and fell below the 5098 mark in the first half. However, a recovery in FMCG Major ITC and few other index heavyweights resulted in bounce back and markets closed marginally above 5100 mark. On the sectoral front, Metal, Consumer Durables and Power counters were among the major losers. The advance to decline ratio was strongly in favor of declining counters (A=1091 D=1702) (Source www.bseindia.com). Formation The 20-day EMA and 20-week EMA are placed at 17200 / 5218 and 17000 / 5155 level, respectively. Also, the 200-day SMA is placed at 16880 / 5100. The 50% Fibonacci Retracement level of the rise from 15748 / 4770 (low of June 4, 2012) to 17631 / 5349 (High of July 10, 2012) is at 16690 / 5060 level. The daily chart depicts a Bullish Hammer Japanese candlestick pattern.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

Trading strategy: Yesterday, indices opened flat and drifted lower during the initial hour of the trade. However, it can be clearly seen that the 200-day SMA has acted as a substantial support for the Index. During yesterdays session also markets bounced back sharply after registering a low of 16736 / 5076. We are now observing a Bullish Hammer pattern marginally above the 50% Fibonacci Retracement level and near the 200-day SMA. Hence, the significance of this pattern cannot be ignored. The said pattern will get activated if indices sustain and close above yesterdays high of 16900 / 5122. In this scenario, we may witness a bounce back towards 17047 17142 / 5164 5197 levels. The low (16736 / 5076) of the hammer pattern may act as a support level in coming trading session.

View Expected targets Support Levels

Bullish above 5122 5145 - 5164 5197 5098 5076

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Daily Technical Report

July 26, 2012

Bank Nifty Outlook - (10268)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session. We are witnessing Positive Divergence in RSI momentum indicator on the hourly chart. In addition the RSI - Smoothened oscillator on the hourly chart is placed in extreme overbought condition. The impact of the above mentioned technical tools will be seen if the index sustains above 10315. In such a scenario the index is likely to temporary bounce towards 10400 10467 levels. On the downside 10200 10160 levels are likely to act as support in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected targets Support Level

Bullish above 10315 10400 10467 10200 10160 Source: Falcon

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Daily Technical Report

July 26, 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 16,665 5,058 10,179 1,247 163 3,474 1,004 1,519 670 292 213 358 319 322 342 195 1,573 338 2,576 499 670 570 2,001 112 456 901 126 2,136 246 387 71 530 1,319 669 1,077 147 278 773 107 477 706 479 81 2,042 178 649 97 600 209 94 378 1,189 325 S1 16,755 5,084 10,223 1,262 169 3,501 1,016 1,540 674 296 214 362 321 325 346 199 1,594 341 2,605 506 673 573 2,016 113 460 909 127 2,152 250 391 72 535 1,331 675 1,090 148 281 782 109 481 713 486 83 2,056 180 655 99 606 211 95 382 1,201 332 PIVOT 16,827 5,103 10,269 1,277 173 3,543 1,028 1,555 679 303 217 367 323 327 351 202 1,614 344 2,626 512 675 577 2,031 115 468 916 129 2,166 253 400 73 540 1,342 681 1,099 151 283 796 110 486 719 498 86 2,075 183 662 100 611 213 96 390 1,209 341 R1 16,918 5,129 10,314 1,291 178 3,570 1,041 1,576 683 308 219 372 325 331 355 207 1,635 347 2,656 520 678 580 2,046 116 472 924 131 2,182 257 404 74 544 1,354 688 1,112 152 286 806 112 490 725 505 88 2,090 186 668 102 617 215 97 394 1,221 348 R2 16,990 5,148 10,360 1,307 182 3,611 1,053 1,591 688 314 221 377 327 333 360 210 1,655 349 2,676 526 680 584 2,061 118 479 931 133 2,196 260 413 75 550 1,366 693 1,121 155 287 819 113 496 731 516 91 2,109 189 675 103 623 217 99 402 1,229 357

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Daily Technical Report

July 26, 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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