Daily Technical Report

December 18, 2012

Sensex (19244) / NIFTY (5858)

Yesterday, the week began with another lackluster trading session where our benchmark indices remained subdued with negative bias throughout the day. Traders refrained from initiating fresh positions ahead of the RBI monetary policy and thus volumes were below normal. On sectoral front, Metal counters continued to move higher followed by Auto and Healthcare; whereas the Teck, IT and FMCG sectors remained under pressure. The advance to decline ratio was in favor of advancing counters (A=1540 D=1350) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19117 / 5815 and 18480 / 5613 levels, respectively. On the weekly chart, we are witnessing a breakout from Downward Sloping Trend Line joining two significant swing highs of 19811 / 5944 (April 2011) and 19137 / 5815 (Oct 2012) at 19050 / 5800 level. The 38.20% and 50% Fibonacci retracement levels of the rise from 18255 / 5548 (low on November 20, 2012) to 19612 / 5965 (high on December 11, 2012) are at 19100 18930 / 5806 5755, respectively.
Source: Falcon:

Actionable points:
View for the day Expected Targets Resistance Levels Bearish below 5836 5806 5755 5925 - 5965

Trading strategy:
Yesterday, our benchmark indices traded within the half a percent range along with very thin volumes. As a result there is no significant change in the chart structure. In todays session, we expect volatility to increase post the announcement of the RBI monetary policy. In case of any disappointing outcome, and a fall below 19186 / 5836, indices may slide further towards 19100 18930 / 5806 5755 levels. On the contrary, any favorable announcement in the form of an Interest rate cut by the RBI, may lead to a strong buying interest among participants. In this scenario, the recent swing high of 19612 / 5965 may be tested. Traders are advised to avoid taking undue risk and follow strict stop losses.

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Daily Technical Report

December 18, 2012

Bank Nifty Outlook - (12427)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range throughout the session to close flat. In line with our benchmark indices, Volumes were significantly lower and there is no change in the price structure on the daily chart. Thus we reiterate our view that a move outside the trading range of 12539 12238 will dictate the direction of the trend. Within the range, 12485 12539 levels are likely to act as resistance and 12327 12238 are likely to act as support for the day. Note: On account of the RBI Monetary Policy we expect high volatility and choppiness in todays session. Traders are advised to trade with strict stop loss.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View for the day Resistance Levels Support Levels Neutral 12485 12539 12327 - 12238 Source: Falcon:

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Daily Technical Report

December 18, 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 19,146 5,829 12,371 1,380 198 4,200 1,336 2,047 827 292 217 336 323 400 347 215 1,822 340 3,115 623 817 665 1,841 119 512 1,122 171 2,237 290 421 98 647 1,610 589 928 1,467 151 253 830 115 495 823 508 2,298 182 659 709 289 103 392 1,172 1,939 360 S1 19,195 5,843 12,399 1,397 201 4,225 1,347 2,077 834 296 219 341 324 405 349 217 1,833 342 3,149 628 827 671 1,853 121 517 1,133 172 2,252 292 431 99 654 1,622 594 944 1,483 153 255 834 115 501 829 512 2,321 188 664 715 292 105 395 1,189 1,959 365 PIVOT 19,271 5,865 12,431 1,408 205 4,250 1,357 2,099 842 304 222 348 326 408 352 218 1,842 345 3,171 632 843 679 1,868 123 520 1,141 174 2,272 293 441 101 660 1,634 603 956 1,497 154 260 838 116 504 837 518 2,335 191 674 720 294 106 399 1,219 1,979 372 R1 19,320 5,879 12,459 1,425 208 4,274 1,368 2,129 849 308 225 352 327 412 355 219 1,853 347 3,205 637 853 685 1,880 126 526 1,152 175 2,286 295 451 102 667 1,646 609 972 1,513 156 262 841 117 510 842 521 2,358 196 679 726 296 107 403 1,236 2,000 377 R2 19,396 5,901 12,490 1,436 211 4,299 1,378 2,151 857 315 228 359 329 416 357 221 1,863 350 3,227 642 869 694 1,895 127 529 1,160 177 2,307 297 460 104 673 1,657 618 983 1,527 157 266 845 118 514 850 527 2,372 199 689 731 298 108 406 1,266 2,020 383

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Daily Technical Report

December 18, 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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