Daily Technical Report

September 26, 2012

Sensex (18694) / NIFTY (5674)

In line with the previous session, yesterday too our benchmark indices traded in a narrow range to close on a flat note. While action was muted in the large caps, the mid and small cap stocks were significantly active in yesterdays trade. On the sectoral front, the Realty once again headed the gainers list followed by the FMCG and Consumer Durables; whereas the Metal and Auto counters remained under pressure throughout the day. The advance to decline ratio was in favor of advancing counters (A=1552 D=1326) (Source www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 18000 / 5450 and 17500 / 5300 levels, respectively. The weekly chart depicts an Upward Sloping Trend Line breakout above 17973 / 5449 levels. The daily RSI momentum oscillator on weekly chart is still showing strength. The continuous rise in the daily ADX (14) indicator signals strength in the coming sessions. The ADX line has moved up from the 21 level (previous weeks Friday) to 30 (this Friday). The ADX line moving above the 30 mark along with rising + DI is interpreted as a strong trend.

Source: Falcon:

Actionable points:
View Resistance Levels Neutral 5720 5741 5650 - 5620

Trading strategy:
As expected, yesterday, we witnessed a very range bound and lackluster session. Once again indices found decent support near the '20-EMA' on hourly chart and eventually closed above that. Since, today is the second last day of the September series derivatives contract; we may witness some volatility in our market. All the levels remain unchanged as mentioned in our earlier report. The resistance remains at 19132 / 5741 level and support is at 18636 / 5650. A breakout on either side would dictate the trend for the session.

Support Levels

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Daily Technical Report

September 26, 2012

Bank Nifty Outlook - (11421)

Yesterday, in line with our benchmark indices, Bank Nifty also continued to consolidate for the second consecutive session. The index traded in a range to close on a flat note near its previous closing. There are no major changes in the price pattern and the momentum oscillators on the daily chart continue to be placed in overbought zone coupled with negative divergence in RSI momentum oscillator on the hourly chart. Hence we reiterate our view that if the index manages to sustain below yesterdays low of 11321 then it is likely to drift towards 11216 11060 levels. On the upside a move beyond the high of the "Shooting star" (11534) will negate the bearish implication of the said pattern.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Targets Resistance Levels Bearish Below 11321 11216 11060 11534 Source: Falcon:

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Daily Technical Report

September 26, 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 18,553 5,626 11,223 1,359 190 3,859 1,044 1,750 751 270 237 341 315 351 361 226 1,634 379 3,171 539 749 621 1,847 116 505 1,053 152 2,576 252 407 79 616 1,549 822 1,284 161 278 789 114 511 824 533 87 2,132 172 682 98 660 261 100 390 1,268 371 S1 18,624 5,650 11,322 1,368 193 3,898 1,073 1,769 765 273 246 345 324 357 365 231 1,645 382 3,211 552 759 629 1,869 118 517 1,060 156 2,587 257 416 81 629 1,562 834 1,303 163 281 806 116 521 832 546 89 2,164 175 690 100 668 265 102 395 1,280 374 PIVOT 18,707 5,676 11,420 1,374 195 3,959 1,117 1,799 779 276 251 348 333 361 369 236 1,660 385 3,244 562 767 634 1,903 119 523 1,071 159 2,599 259 431 84 636 1,582 843 1,336 166 285 826 117 527 838 558 90 2,205 179 705 102 677 270 104 402 1,295 379 R1 18,778 5,700 11,519 1,383 197 3,998 1,146 1,818 793 279 259 352 342 367 373 240 1,670 387 3,284 576 777 642 1,925 121 535 1,077 163 2,610 263 440 85 649 1,594 855 1,354 168 288 843 119 537 846 571 91 2,237 182 714 104 685 274 106 407 1,308 382 R2 18,861 5,727 11,616 1,390 199 4,059 1,190 1,848 807 283 264 355 351 372 377 245 1,685 390 3,317 586 786 647 1,958 123 542 1,088 166 2,622 266 455 88 657 1,614 865 1,387 171 293 862 121 543 853 583 93 2,278 187 729 107 694 280 108 414 1,323 386

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Daily Technical Report

September 26, 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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