Daily Technical Report

March 18, 2013

Sensex (19428) / NIFTY (5873)

On Friday, indices opened on a flat note as indicated by the in line with other Asian markets. Subsequently, indices pared all gains to close in the negative territory. The Realty, Banking and Oil & Gas counters were among the major losers; whereas Consumer Durables was the only sector that gained ground. The advance to decline ratio was in favor of declining counters (A=1114 D=1754) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19410 / 5869 and 19244 / 5830 levels, respectively. The weekly chart exhibits a Bullish Engulfing pattern but the monthly chart exhibits a Bearish Engulfing pattern. Indices have closed above the Downward Sloping Trend Line, drawn by joining two significant highs of 21109 / 6339 (high of November 05, 2010 weekly candle) and 19137 / 5816 (high of October 05, 2012 weekly candle).

Source: Falcon:

Trading strategy:
The first half of the concluded week was undoubtedly dominated by the bears. However, the second half turned out to be directionless as we witnessed very sharp movements on both sides. Indices have not confirmed the weekly Bullish Engulfing pattern mentioned in our earlier report. Going forward, only a sustainable move beyond this weeks high of 19755 / 5971 would confirm the above mentioned pattern as well as the breakout from the probable Inverse Head and Shoulder pattern. In such a scenario, we may witness strong buying interest among market participants. Indices may then resultantly rally towards 19768 - 19865 / 5991 6025 or even re-test the recent swing high of 20204 / 6112. Conversely, the weeks low of 19179 / 5791 poses as a key support level in the coming trading sessions. Any sustainable move below this level would trigger immense pessimism in the market and indices may re-test recent swing lows of 18931 18760 / 5712 5663.

Actionable points:
View Expected target Resistance levels Bearish Below 5861 5790 - 5750 5946 - 5971

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Daily Technical Report

March 18, 2013

Bank Nifty Outlook - (11817)

On Friday, Bank Nifty too opened flat in-line with our benchmark indices and eventually index slipped as the day progressed to close with a loss of nearly 1.70%. The momentum oscillators RSI on the daily and hourly chart is near the 50 mark and is indicating a rise in volatility in coming few sessions. The index has taken support on Thursday near the 78.6% Fibonacci retracement of the current rise. This level is likely to act as an intermediate support level for the index. Only a sustainable move below the 11555 mark would lead to strong selling pressure in the index. On the upside a move above the 12059 level would attract further buying interest and the index may rally towards 12107 12183 levels. Traders are advised to stay light on positions as the market nears the RBI monetary policy Tuesday.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Expected Target Resistance Levels Bearish Below 11750 11555 12059 - 12107 Source: Falcon:

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Daily Technical Report

March 18, 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 INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,205 5,808 11,582 1,217 183 4,800 1,293 1,818 708 302 194 392 289 375 313 262 1,793 313 2,922 782 802 625 1,654 93 451 1,029 153 2,842 300 346 71 652 1,480 591 908 1,367 144 313 785 108 426 819 406 2,221 160 529 817 283 100 347 1,551 1,894 433 S1 19,316 5,841 11,699 1,233 185 4,903 1,317 1,834 714 306 196 396 291 380 316 267 1,808 318 2,950 787 810 632 1,669 94 455 1,048 155 2,860 301 351 73 658 1,494 600 918 1,387 145 316 791 108 432 832 413 2,242 163 551 825 287 101 351 1,560 1,909 437 PIVOT 19,495 5,893 11,867 1,254 189 4,964 1,340 1,860 723 312 199 402 294 386 320 277 1,821 327 2,989 795 821 641 1,682 96 459 1,075 159 2,886 302 359 75 665 1,513 607 925 1,407 147 321 801 109 437 850 424 2,258 166 565 834 294 102 357 1,570 1,925 440 R1 19,606 5,925 11,984 1,270 191 5,068 1,364 1,876 729 316 201 406 296 390 323 282 1,836 332 3,017 800 828 648 1,697 98 463 1,095 161 2,904 303 364 77 671 1,527 617 935 1,427 148 324 807 110 444 863 431 2,278 168 587 843 298 103 360 1,580 1,939 444 R2 19,785 5,978 12,152 1,290 195 5,129 1,387 1,901 739 322 203 412 300 397 326 292 1,849 341 3,055 808 839 657 1,710 100 468 1,122 165 2,930 304 371 79 678 1,547 624 942 1,448 149 329 818 111 448 882 442 2,294 171 601 852 305 104 366 1,590 1,956 446

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Daily Technical Report

March 18, 2013
Research Team Tel: 022 - 30940000 E-mail: advisory@angelbroking.com Website: www.angelbroking.com

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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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