Daily Technical Report

June 28, 2012

Sensex (16968) / NIFTY (5142)

Yesterday, our benchmark indices opened marginally higher on the back of positive cues from some Asian bourses. Subsequently, indices moved in a narrow range throughout the session to eventually close marginally in the green. On sectoral front, Oil & Gas, Power and PSU stocks bounced during yesterdays session; whereas Consumer Durables and FMCG sectors remained under pressure. The advance to decline ratio was marginally in favor of advancing counters (A=1380 D=1346 (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16803 / 5075 and 16691 / 5061, respectively. The 20-Week EMA is placed at 16854 / 5108 level. On the daily chart, indices are trading well above 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 and weekly 3 & 8 EMA is still intact. Also, the weekly RSI-Smoothened is now positively poised.
Source: Falcon

Exhibit 1: Nifty Daily Chart

Actionable points:

View Expected Target Support Levels

Bullish Above 5160 5195 5093 5041 - 5015

Trading strategy: In-line with other global indices, our markets too opened marginally higher and traded with positive bias throughout the session; the movement witnessed was extremely lackluster although overall volumes surged on account of derivative expiry. Our view remains unchanged as the trading range is still intact. The crucial support remains at 16799 / 5093. Only a sustainable move below this level may reinforce selling pressure and indices may then correct towards 16553 16636 / 5041 5015 levels. On the upside, 17030 17131 / 5160 - 5195 levels are likely to act as immediate intraday resistance in coming trading session.

Todays session is likely to trade with some volatility and choppiness due to June series derivatives expiry. Hence, traders are advised to trade with cautious approach.

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Daily Technical Report

June 28, 2012

Bank Nifty Outlook - (10018)

Yesterday, Bank Nifty opened with an upside gap in line with our benchmark indices and traded in a narrow range throughout the session. There is no significant change in the chart formation for Bank Nifty except for the formation of a Doji candlestick pattern, which represents the indecisiveness prevailing at current levels. Hence, we reiterate our view that the index is likely to trade in the range of 9760 10230. Only a sustainable move outside the said range will dictate a clear direction of the trend. Within the mentioned range 10130 10170 is likely to act as resistance and 9873 9800 is likely to act as support in coming trading session. Positional traders holding long positions can hold with a stop loss of 9800 level (Closing basis) on Bank Nifty spot. Actionable points:
View Resistance Levels Support Levels Neutral 10080 - 10130 9873 - 9800

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report

June 28, 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 16,877 5,113 9,918 1,187 167 3,743 987 1,543 709 300 218 739 318 303 336 189 1,593 350 2,424 456 640 541 2,028 115 446 842 130 2,437 246 425 67 553 1,331 677 1,103 153 271 775 108 481 712 535 87 2,083 183 697 97 611 231 96 408 1,225 394 S1 16,923 5,127 9,968 1,196 169 3,760 994 1,551 713 303 219 745 322 306 340 191 1,601 352 2,493 463 642 545 2,042 116 449 847 132 2,453 247 428 68 562 1,339 685 1,112 154 274 780 109 484 717 540 88 2,098 187 702 99 617 235 97 415 1,236 397 PIVOT 16,976 5,144 10,039 1,213 171 3,778 1,005 1,560 716 305 221 749 328 308 342 192 1,608 356 2,591 467 645 550 2,056 117 452 855 134 2,464 248 431 70 573 1,352 693 1,118 155 276 785 110 488 723 546 89 2,118 190 710 99 622 242 98 418 1,247 401 R1 17,021 5,158 10,089 1,222 172 3,795 1,012 1,568 720 308 222 754 332 311 345 194 1,616 358 2,660 474 648 554 2,070 118 455 860 137 2,479 249 434 71 582 1,360 701 1,127 156 280 790 111 491 729 551 89 2,133 194 715 101 628 246 99 424 1,258 403 R2 17,074 5,175 10,160 1,239 175 3,813 1,023 1,577 724 310 223 759 338 313 348 195 1,623 362 2,757 478 651 559 2,085 119 458 868 139 2,490 251 437 72 594 1,373 709 1,133 158 282 795 112 495 735 557 90 2,153 197 723 101 633 253 101 428 1,270 407

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Daily Technical Report

June 28, 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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