Daily Technical Report

September 03, 2013

Sensex (18886) / NIFTY (5551)

The opening session of the week started off on a flat note but momentum picked up as the day progressed. Strong global clues and buying by FIIs led to a closing near the highest point of the session. Yesterday, all the sectors ended in the positive territory with Metal, Realty, FMCG and Oil & Gas counters leading the rally. The advance to decline ratio was strongly in favor of advancing counters. (A=1388 D=872) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 89-day EMA and the 89-week EMA are placed at 19157 / 5734 and 18615 / 5612 levels, respectively. The 20-day EMA and the 20-week EMA are placed at 18669/ 5518 and 19155 / 5725 levels, respectively. The monthly RSI-Smoothened oscillator is still negatively poised; whereas the weekly Stochastic momentum oscillator has given a positive crossover.
Source: Falcon:

The weekly chart depicts yet another Bullish Hammer Japanese candlestick pattern. The Lower Top - Lower Bottom formation in weekly chart is still intact.

Actionable points:
View Bullish above 5565 5600 5640 5500 5455

Trading strategy: Yesterday, we had mentioned of a breakout from the hourly Downward Sloping Channel and the positive crossover in weekly Stochastic momentum oscillator. In-line with our expectations, Nifty traded with a positive bias throughout the session and almost precisely met with our mentioned target of 5578. At this juncture, we are observing a breakout from the Downward Sloping Trend Line (please refer the exhibit) on daily chart. Moreover, it has also managed to close above the daily 20-EMA, which is a sign of strength. Hence, going forward, if Nifty continues to stay above 5565 then we may expect this rally to continue towards 5600 5640. On the flipside, 5500 5455 would act as immediate support levels in coming trading session.

Expected targets Support levels

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Daily Technical Report

September 03, 2013

Bank Nifty Outlook - (9049)

Yesterday unlike benchmark indices, the Bank Nifty opened higher but traded in very narrow trading range throughout the session. We have observed that the index has been oscillating within the Downward Sloping Channel' formed in an hourly chart and has now approached the upper range of the channel. Moreover, yesterday's high precisely coincides with the hourly' 89 EMA' level. Hence, it can be concluded that the Bank Nifty is now hovering around the strong resistance zone. Going forward, if the index sustains above 9234 level then that would be the first sign of a breakout from the resistance zone and we expect higher levels of 9369 -9450 to be tested. On the flipside, yesterdays low of 9086 would act as immediate support in coming trading session.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:

View Expected targets Support levels

Bullish above 9234 9369 - 9450 9140 - 9086 Source: Falcon:

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Daily Technical Report

September 03, 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 18,573 5,445 9,006 926 165 413 819 1,819 454 291 117 266 312 409 250 127 2,241 287 2,196 1,019 714 570 1,955 103 625 799 80 349 3,030 303 218 32 589 719 786 741 1,206 117 127 244 418 96 394 840 339 1,493 181 517 288 72 268 1,996 1,435 S1 18,729 5,498 9,073 939 167 418 841 1,837 464 296 119 271 316 413 254 132 2,262 295 2,238 1,029 726 580 1,989 106 633 813 82 365 3,058 312 223 34 608 723 803 753 1,253 120 129 248 428 98 413 863 345 1,504 185 523 294 73 279 2,027 1,467 PIVOT 18,836 5,532 9,153 954 171 423 857 1,854 471 300 120 276 320 419 257 135 2,287 299 2,271 1,039 736 592 2,042 108 640 823 83 374 3,093 318 227 35 641 729 815 768 1,280 122 130 251 437 99 426 877 350 1,522 190 528 298 75 285 2,048 1,500 R1 18,992 5,584 9,220 968 173 427 880 1,872 480 304 122 281 324 423 261 140 2,308 307 2,313 1,049 748 602 2,076 111 648 837 85 390 3,121 327 232 38 660 733 832 781 1,327 124 132 255 448 100 444 900 356 1,534 193 533 304 76 295 2,078 1,532 R2 19,099 5,618 9,300 983 177 432 896 1,889 488 308 124 285 329 429 263 143 2,332 311 2,347 1,059 757 614 2,129 113 656 846 86 400 3,156 333 236 39 694 739 845 796 1,355 126 133 259 457 101 457 913 361 1,552 198 538 308 78 301 2,099 1,566

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Daily Technical Report

September 03, 2013
Research Team Tel: 022 - 30940000 E-mail: sameet.chavan@angelbroking.com Website: www.angelbroking.com

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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Head Technicals Technical Analyst Technical Analyst

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