Daily Technical Report

June 22, 2012

Sensex (17033) / NIFTY (5165)

Yesterday, for the third consecutive session indices opened on a flat note and traded in a narrow range in the first half. However, strong buying during the second half pushed indices significantly higher to close at the highest point of the day. On sectoral front, Realty, Capital Goods and Banking counters rallied sharply during yesterdays sessions; whereas Oil & Gas and IT sectors ended on a losing side. The advance to decline ratio was strongly in favor of advancing counters (A=1658 D=1079) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16800 / 5070 and 16550 / 5019, respectively. The 20-Week EMA is placed at 16830 / 5100 level. On the daily chart, indices are trading near the upper range of Downward Sloping Channel drawn by joining two highs of February 22, 2012 April 19, 2012 and low of March 7, 2012. The positive crossover in weekly RSI momentum oscillator is still intact. Also, the weekly 3 & 8 EMA is signaling a positive crossover.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected target Support Levels

Bullish above 5190 5270 5093 5146

Trading strategy: Yesterday after a quite opening, substantial buying by market participants led the indices to close on a strong footing. Going forward, we continue to maintain that the 17110 / 5190 level is an intermediate resistance level for the market. Once indices manage to sustain above this level then we may witness a continuation of the prior uptrend. In this scenario, indices are likely to move upwards to test 17400 / 5270 level which is the target of the 'Channel' pattern mentioned above. Conversely, the support is seen at 16968 - 16799 / 5146 - 5093 levels. Albeit we may witness a gap down opening in today's session, we are of the opinion that positional traders with a 2 to 3 week time frame should use this fall to accumulate long positions.

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Daily Technical Report

June 22, 2012

Bank Nifty Outlook - (10034)

Yesterday, Bank Nifty opened on a flat note and traded in a narrow range during first half of the session. However, in line with the broader market, momentum picked up during the second half which led the index to close near the highest point of the day. Considering the bigger picture, we reiterate our view that index is likely to trade in a broad range of 10225 9595. Positional traders holding long positions should hold with a trailing stop loss of 9764 (spot level) on closing basis. Within the mentioned range intermediate resistance levels are seen at 10100 10180 and support levels are near to 9764 9661 mark. Actionable points:
View Resistance Levels Support Levels Neutral 10100 - 10180 9764 - 9661

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

June 22, 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 M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,710 5,066 9,672 1,211 167 3,820 976 1,504 660 307 213 752 320 307 331 181 1,556 334 2,452 472 633 526 1,996 119 447 818 125 2,415 243 427 69 558 1,318 677 1,050 148 267 734 106 477 697 498 90 2,049 179 702 95 594 240 90 419 1,185 393 S1 16,871 5,116 9,853 1,232 170 3,858 1,001 1,520 679 309 218 758 323 308 337 188 1,571 337 2,478 477 641 535 2,034 120 454 834 129 2,453 247 433 72 567 1,345 686 1,069 150 271 757 108 483 708 517 91 2,114 183 711 97 604 244 92 425 1,205 398 PIVOT 16,961 5,143 9,950 1,249 172 3,883 1,015 1,532 691 312 221 766 327 310 340 191 1,585 339 2,496 483 645 540 2,057 121 459 844 131 2,478 250 438 73 573 1,362 692 1,082 151 275 769 109 488 721 527 91 2,149 185 718 98 612 247 94 428 1,228 401 R1 17,122 5,192 10,131 1,270 174 3,922 1,039 1,549 711 314 226 772 330 311 346 198 1,599 342 2,522 488 652 548 2,095 122 466 860 135 2,516 254 444 76 582 1,390 700 1,101 153 279 792 111 494 732 546 92 2,214 188 727 101 622 251 96 434 1,248 405 R2 17,212 5,220 10,228 1,286 177 3,947 1,054 1,561 722 317 229 781 333 313 349 201 1,613 345 2,540 494 657 553 2,118 124 471 870 137 2,541 256 448 78 588 1,406 706 1,114 154 283 805 112 498 745 556 93 2,249 191 734 102 629 254 97 437 1,271 408

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Daily Technical Report

June 22, 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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