Daily Technical Report

October 12, 2012

Sensex (18805) / NIFTY (5708)

Yesterday, our markets opened marginally on the higher side, considering mixed global cues. As expected, our benchmark indices found a decent intraday support around the 18552 / 5638 level and we witnessed a sharp rally during the second half. Eventually, Sensex / Nifty managed to close above the psychological level of 18800 / 5700. The rally was mainly led by some of the high beta sectors like, Realty, Metals, Banking and Capital Goods. The defensive sectors like, Health Care ended with very nominal losses. The advance to decline ratio was strongly in favor of advancing counters (A=1652 D=1179) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18542 / 5624 and 17835 / 5405 levels, respectively. The monthly RSI oscillator is moving higher from the 50 mark and the ADX (9) indicator is now signaling a positive crossover.
Source: Falcon:

Trading strategy:
The bulls showed tremendous resilience during yesterday's session, as we witnessed more than 1% intraday rally from the lows. This was mainly on the back of hopes that Infosys will post decent numbers to kick start the earnings season. The sentiment was also boosted by anticipation of favorable IIP data, which will be released during the session. As expected, the support zone of '20-day EMA' and '5-week EMA' turned out to be a biggest hurdle for the bears. Going forward, we continue to mention the support zone of 18582 - 18542 / 5635 - 5624. Only a sustainable move below this may trigger short term pessimism in the market. Conversely, yesterday's high of 18848 / 5721 would be the immediate resistance for the market. A move beyond this level may attract further buying interest and hence, the indices may rally towards their next resistance level of 18973 - 19100 / 5757 - 5800.

Actionable points:
View Expected Targets Support Levels Bullish Above 5721 5757 - 5800 5697 - 5635

We would advise traders to trade with proper stop losses and avoid taking undue risks as volatility is expected to increase before the announcement of IIP numbers.

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Daily Technical Report

October 12, 2012

Bank Nifty Outlook - (11431)

Yesterday, in line with our benchmark indices, Bank Nifty too opened on a flat note and drifted below the mentioned support level of 11270. However, a sharp intraday bounce in banking heavyweights SBI (+1.9%) and Axis Bank (+2.4%) led the index to close near days high. Now on the hourly chart, we are witnessing a positive crossover in RSI-Smoothened and 5&20 EMA. Hence we could see further rally once the index trades convincingly above yesterdays high of 11477. In this case, index can test higher levels of 11503 11540. On the downside, 11395 11375 is likely to act as support for the day. Actionable points:
View Expected Targets Support Levels Bullish Above 11477 11503 11540 11395 - 11375

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report

October 12, 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 18,478 5,605 11,152 1,412 205 3,844 1,063 1,699 742 259 237 348 327 350 351 208 1,657 366 3,278 557 730 614 1,776 114 553 1,038 146 2,433 273 411 84 622 1,573 522 835 1,326 165 274 778 117 522 804 491 2,155 166 678 705 262 99 406 1,277 2,019 353 S1 18,642 5,656 11,292 1,427 207 3,870 1,098 1,729 766 263 244 350 328 355 355 215 1,680 371 3,312 567 739 620 1,791 116 562 1,048 150 2,483 278 415 88 628 1,613 536 843 1,347 167 277 800 118 528 812 504 2,211 170 683 713 268 100 413 1,283 2,029 356 PIVOT 18,745 5,689 11,384 1,439 210 3,899 1,119 1,747 779 266 249 354 330 363 357 219 1,705 376 3,337 574 745 624 1,810 117 568 1,058 152 2,531 282 418 90 632 1,636 553 850 1,369 167 279 812 119 535 817 512 2,247 172 689 718 271 101 417 1,292 2,043 360 R1 18,908 5,740 11,524 1,454 212 3,925 1,155 1,777 802 271 256 356 331 368 361 225 1,728 381 3,371 584 754 629 1,825 119 577 1,068 157 2,582 287 422 93 638 1,676 567 858 1,391 169 282 834 120 541 825 525 2,303 176 694 725 277 103 425 1,299 2,053 363 R2 19,011 5,773 11,617 1,465 214 3,954 1,175 1,795 816 274 260 359 332 376 364 229 1,753 386 3,395 590 759 633 1,844 121 582 1,078 159 2,630 290 425 95 642 1,700 584 865 1,413 170 285 846 121 548 830 533 2,340 179 701 730 281 104 429 1,308 2,068 367

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Daily Technical Report

October 12, 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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