Daily Technical Report

May 14, 2013

Sensex (19692) / NIFTY (5980)

The opening session of the week started on a flat note but immediately witnessed selling pressure in FMCG heavyweight ITC. The trade deficit data proved to be extremely disappointing and the marked cracked further to close at the lowest point of the session. For the day all the sectors ended in the red among which FMCG, Capital Goods and Metal counters were among the major losers. The advance to decline ratio was strongly in favor of declining counters. (A=808 D=1542) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19236/ 5830 and 19522/ 5925 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19212/ 5822 and 18846 / 5714, respectively. The daily RSI and RSI Smoothened momentum oscillators have given a negative crossover.
Source: Falcon:

Trading strategy:
In line with our expectations, the market fell below the crucial support level of 19903 / 6040 and corrected lower to test the mentioned level of 19743 / 5993. The market has witnessed broad based selling and the leading sectors such as Banking and FMCG fell significantly in yesterdays session. Also, the RSI and RSI smoothened momentum oscillators have given a negative crossover in the overbought zone. Going forward, if the market sustains below yesterdays low of 19667 / 5972, then the possibility of testing the 19542 19450 / 5928 5900 levels cannot be ruled out. On the upside 19851 19964 / 6030 6060 levels may act as resistance for the day.

Actionable points:
View Expected targets Resistance Levels Sell below 5972 5928 - 5900 6030 - 6060

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Daily Technical Report

May 14, 2013

Bank Nifty Outlook - (12569)

Yesterday, Bank Nifty too opened on a flat note in line with our benchmark indices but selling pressure throughout the day led the index to close with a loss of 1.65%. Similar to the charts of the benchmark indices the momentum oscillators in the Bank Nifty daily chart have given a negative crossover The effect of this technical tool would be seen only if the index sustains below the 12514 level. In this scenario the index is likely to drift lower towards 12447 - 12378 levels. On the upside 12670 12720 levels are likely to act as resistance for the day. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Expected Targets Resistance Levels

Bearish Below 12514 12447 12348 12670 - 12720 Source: Falcon:

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Daily Technical Report

May 14, 2013

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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 19,381 5,887 12,341 1,176 182 4,621 1,413 1,778 668 301 186 398 287 386 290 228 1,994 321 2,963 740 849 678 1,646 102 578 1,126 146 481 2,312 322 297 71 715 1,480 734 938 1,673 123 151 314 741 111 428 782 370 2,238 154 927 287 92 294 1,424 1,930 S1 19,536 5,934 12,455 1,191 184 4,660 1,433 1,798 679 306 188 404 291 391 293 230 2,036 326 2,988 749 856 685 1,662 104 580 1,137 148 487 2,326 329 301 73 720 1,499 744 947 1,689 124 152 317 749 111 434 793 379 2,258 157 935 292 92 300 1,438 1,943 PIVOT 19,823 6,019 12,660 1,217 187 4,725 1,465 1,833 693 316 192 412 298 398 299 233 2,094 336 3,024 763 867 698 1,689 105 583 1,157 151 498 2,344 341 307 75 728 1,531 758 960 1,715 127 154 324 763 112 442 809 394 2,288 161 949 301 93 311 1,459 1,966 R1 19,978 6,066 12,774 1,232 189 4,764 1,485 1,854 704 321 194 418 303 403 302 235 2,135 341 3,048 772 874 706 1,706 106 586 1,168 153 504 2,358 348 310 76 733 1,550 767 969 1,730 128 156 327 771 113 447 819 403 2,308 164 958 306 94 316 1,473 1,979 R2 20,264 6,151 12,979 1,258 192 4,828 1,517 1,888 719 330 199 427 310 411 308 238 2,194 350 3,084 786 884 719 1,733 108 589 1,188 156 515 2,376 361 316 78 742 1,582 781 981 1,756 130 157 334 785 114 455 836 418 2,339 168 971 315 95 327 1,495 2,002

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Daily Technical Report

May 14, 2013
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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

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