Daily Technical Report

November 15, 2012

Sensex (18619) / NIFTY (5667)

The week began on a quiet note in-line with other global bourses. Our benchmark indices then inched marginally higher during the initial hour of the trade but corrected post midsession. A minor recovery towards the latter part of the day pushed indices near last Fridays closing level. A similar movement was seen on Muhurat Trading Session also as indices slipped marginally to close in the negative territory. During Mondays session, the Consumer Durable, Banking and Realty sectors supported the market; whereas the Metal, Capital Goods and Oil & Gas counters were among the major draggers. The advance to decline ratio was in favor of declining counters (A=1334 D=1461) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18693 / 5683 and 18119/ 5498 levels, respectively. The monthly RSI oscillator is moving higher from the 50 mark and the positive in the ADX (9) indicator is intact. The daily momentum oscillators viz, the RSI and the Stochastic are now signaling a negative crossover.

Source: Falcon:

Trading strategy:
Considering last couple of trading sessions, we can infer that in line with the global bourses our markets too are facing selling pressure at higher levels. The mentioned negative crossover in daily momentum oscillators is intact. In addition, the daily 3 & 8 EMA are also now signaling a negative crossover. The impact of these technical evidences would be seen if our markets sustain below 18608 / 5666 level. In this case, we may witness further correction towards 18589 18393 / 5650 5583 levels. A breach of 18393 / 5583 may reinforce negative momentum and as a result, we may witness further correction towards 18194 / 5515, which is the 50% Fibonacci Retracement level of the rise from 17250 to 19138 / 5216 to 5815. On the flipside, 18733 / 5700 levels would act as intraday resistance in the coming trading session.

Actionable points:
View for the day Expected Target Resistance Levels Bearish Below 5666 5650 - 5583 5700 - 5735

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Daily Technical Report

November 15, 2012

Bank Nifty Outlook - (11534)

On Monday, Bank Nifty opened on a flat note and traded in a narrow range to close with a gain of 0.94%. The index continued to take support near the 20 day EMA and managed to give a close well above it. Going forward we believe the index is likely to trade in a broad range of 11800 11427. The negative positioning of momentum oscillator RSI and Stochastic on the daily chart is still intact. In the mentioned range 11648 11720 levels are likely to act as resistance and 11502 11427 levels are likely to act as support in coming trading session.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:
View for the day Expected Targets Resistance Levels Bearish Below 11427 11350 11252 11533 - 11600 Source: Falcon:

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Daily Technical Report

November 15, 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 18,507 5,637 11,464 1,401 208 4,043 1,208 1,828 749 279 230 328 330 391 343 199 1,722 347 3,280 610 775 643 1,850 112 525 1,051 159 2,317 281 372 89 611 1,595 578 899 1,438 165 254 753 118 528 780 465 2,144 172 671 683 274 99 382 1,313 1,932 364 S1 18,563 5,652 11,499 1,412 209 4,063 1,215 1,835 752 281 231 331 331 392 345 201 1,739 349 3,298 613 780 645 1,860 113 527 1,056 161 2,328 283 375 90 614 1,601 581 903 1,450 166 255 760 119 530 785 468 2,158 173 675 686 276 99 384 1,319 1,960 367 PIVOT 18,648 5,675 11,549 1,428 211 4,091 1,223 1,846 759 282 232 333 332 394 346 203 1,763 351 3,325 617 787 648 1,872 113 529 1,059 163 2,344 284 378 91 619 1,607 585 906 1,459 167 256 772 120 532 788 472 2,174 174 678 690 279 100 386 1,328 1,990 370 R1 18,704 5,690 11,584 1,440 212 4,112 1,231 1,853 762 284 233 335 333 396 347 204 1,780 353 3,343 620 792 651 1,882 114 531 1,063 164 2,355 286 381 92 622 1,613 588 910 1,471 168 258 779 120 534 793 475 2,188 175 682 693 281 101 388 1,334 2,017 372 R2 18,788 5,713 11,633 1,456 213 4,140 1,239 1,864 769 286 234 338 334 397 349 206 1,804 355 3,370 624 799 654 1,894 114 533 1,067 166 2,371 287 384 93 627 1,619 592 914 1,479 169 259 791 121 537 797 479 2,204 176 685 697 284 101 389 1,343 2,047 375

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Daily Technical Report

November 15, 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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