Daily Technical Report

August 22, 2012

Sensex (17885) / NIFTY (5421)

The weak began on a flat note in line with globe clues but strong buying in the final hour of trade resulted in a close well above 5400 mark for the first time after March 14, 2012. On sectoral front, IT, Power, TECK and Realty counters contributed heavily during yesterdays session; whereas only Health Care sector ended with nominal loss. The advance to decline ratio was in favor of advancing counters (A=1498 D=1358) (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 5425 5450 5500 5342

Trading strategy: Finally, we have witnessed the much awaited breakout above the psychological level of 5400 and a closing above 17727 / 5386. As expected, significant gush of liquidity was seen beyond the 5400 mark. Hence, indices surged during the last hour of the session and registered a high of 17899 / 5425.Going forward, we advise traders to 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 17899 / 5425. 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 22, 2012

Bank Nifty Outlook - (10470)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session. However, during the last hour of trade we witnessed buying interest in the index which led to a close near days high. We are now witnessing a Tweezer Bottom candlestick near the upward sloping trend line formed by joining the lows of June 19, 2012 July 26, 2012. The above mentioned candlestick will have its bullish implication as long as the index stays above the 10354 level. In this scenario, if the index sustains above yesterdays high of 10485 then it is likely to rally towards 10614 10641 levels. On the downside, the 10354 mark 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 10485 10614 - 10641 10354 Source: Falcon

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Daily Technical Report

August 22, 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 17,636 5,349 10,305 1,304 186 3,617 1,088 1,690 629 251 229 331 326 351 343 205 1,631 354 2,986 549 702 584 1,883 109 496 951 139 2,330 258 393 74 580 1,414 758 1,166 165 278 711 115 507 805 500 82 1,879 182 643 105 650 239 95 382 1,266 347 S1 17,761 5,385 10,387 1,331 190 3,656 1,100 1,701 633 255 230 335 329 356 348 211 1,646 362 3,017 553 717 590 1,902 111 505 963 142 2,370 259 399 76 584 1,440 772 1,177 169 283 715 117 511 810 507 83 1,897 188 651 110 658 242 98 387 1,282 351 PIVOT 17,830 5,405 10,436 1,347 193 3,685 1,109 1,709 637 259 231 340 333 360 351 214 1,656 366 3,041 556 726 594 1,917 112 510 971 143 2,404 261 403 77 588 1,456 780 1,187 172 285 724 119 516 817 512 84 1,907 191 658 112 664 245 99 392 1,294 355 R1 17,954 5,441 10,518 1,374 197 3,723 1,120 1,721 641 263 233 344 336 365 355 219 1,670 374 3,071 561 741 601 1,936 114 519 983 146 2,444 262 409 78 592 1,483 794 1,198 177 290 728 121 519 821 519 86 1,926 197 665 117 671 249 101 397 1,310 359 R2 18,023 5,461 10,567 1,390 199 3,752 1,129 1,729 645 268 234 348 340 370 358 222 1,680 379 3,095 564 750 605 1,951 115 524 991 147 2,478 264 413 79 595 1,498 802 1,208 179 292 736 122 524 828 524 87 1,936 201 672 119 677 251 102 403 1,321 363

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Daily Technical Report

August 22, 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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