daily technical report, 03.07.2013

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Daily Technical ReportJuly 03 , 2013

Sensex (19464) / NIFTY (5858)

Yesterday, indices opened marginally lower considering

mixed global cues. Markets failed to cross the previous dayshigh and overall bias was on the negative side. As a result,indices ended the session almost at the lowest point of theday. Most sectors ended in the negative territory with theRealty, PSU and Oil & Gas counters leading the decline;whereas the Consumer Durables and Health Care countersended with very nominal gains. The advance to decline ratiowas marginally in favor of declining counters. (A=1132D=1212) (Sourcewww.bseindia.com)

Formation

The 89-day EMA and the 89-Week EMA are placed a19326 / 5852 and 18499/ 5598 levels, respectively.

The 20-Day EMA and the 20-Week EMA are placedat 19198/ 5797 and 19327 / 5849, respectively.

The 50% and 61.8% Fibonacci retracement levels of thefall from 20444 / 6229 to 18467/ 5566 are placed a19455/ 5898 and 19689 / 5976, respectively.

The weekly chart now depicts a Bullish Engulfing buthe monthly chart shows a 'Bearish Engulfing" Japanesecandlestick pattern.

Trading strategy:

During yesterdays session, indices remained under pressurefor most part of the day. In the process, the Nifty preciseltested the daily 89 EMA level of 5852 but closed marginallabove it. Although the daily 5 & 20 EMA are now signaling

a positive crossover, the Japanese candlestick pattern on thedaily chart is not encouraging. The pattern is a BearishHarami candlestick pattern and needs confirmation in theform of a close below the low at 19347 / 5822 level.Considering the SGX Nifty a gap down opening in ourmarkets looks like a certainty and a close below 19347 /5822 would result in the reversal of the bullish momentuseen in the last few sessions. In this case the markets mamove lower to test Fridays low of 19093 / 5749. On theother hand Mondays high of 19599 / 5905 is the crucialresistance for the Indices. A close beyond this level may resulin a move towards the 61.8% Fibonacci retracement level(19689 / 5976) of the fall from 20444 / 6229 to 18467/5566.

Exhibit 1: Ni fty Daily Chart

Source: Falcon :

Actionabl e poin ts:

View N eutral

Resistance Level 5905 5932

Support Levels 5822 - 5749


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Daily Technical ReportJuly 03, 2013

Bank N ifty Outlook - (11614)

Yesterday, the Bank Nifty too opened on a flat note andimmediately made an attempt to cross the daily 20 EMA. Asexpected, this level acted as a strong resistance during the

day and the Bank Nifty eventually closed in the negativeterritory. Going forward, we reiterate our view that buying inthe Index is expected only if Index sustains above the high of 11753. In this scenario the Bank Nifty may rally towards the

next resistance of 11867 / 11950. On the flipside, asustainable move below yesterdays low of 11590 may triggersignificant pessimism in the index. As a result, the Bank Nifty

may slide towards 11497 / 11367 levels.

Actionable points:

View Bearish below 11 5 90

Expected Targets 11479 - 11395

Resistance Levels 11753 - 11867

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon :


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Daily Pivot Levels for Nifty 50 StocksSCRIPS S2 S1 PIVO T R1 R2

SENSEX 19,352 19,408 19,499 19,554 19,645

NIFTY 5,823 5,840 5,870 5,887 5,916BANKNIFTY

11,490 11,552 11,653 11,715 11,815ACC 1,197 1,216 1,229 1,247 1,261

AMBUJACEM 184 185 187 188 190

ASIANPAINT 4,623 4,650 4,693 4,720 4,763

AXISBANK 1,272 1,290 1,323 1,341 1,373

BAJAJ-AUTO 1,858 1,886 1,928 1,955 1,998

BANKBARODA 574 582 590 598 605

BHARTIARTL 287 295 300 308 314

BHEL 171 177 181 188 192

BPCL 365 368 373 377 382

CAIRN 288 292 296 300 305

CIPLA 390 394 396 400 402

CO ALINDIA 292 296 300 303 307

DLF 178 181 185 188 192

DRREDDY 2,216 2,240 2,264 2,288 2,312

GAIL 313 323 329 338 344

GRASIM 2,732 2,765 2,800 2,833 2,868

HCLTECH 754 760 766 773 779

HDFC 859 867 880 888 901

HDFCBANK 645 651 660 665 674

HEROMOTOCO 1,635 1,658 1,685 1,709 1,736

HINDALCO 99 101 103 104 106

HINDUNILVR 582 585 588 591 594

ICICIBANK 1,062 1,071 1,077 1,086 1,093IDFC 129 131 132 133 135

INDUSINDBK 462 469 474 481 486

INFY 2,359 2,381 2,423 2,445 2,486

ITC 321 323 325 327 329

JINDALSTEL 203 209 216 221 229

JPASSOCIAT 54 55 56 58 59

KOTAKBANK 706 711 718 723 729

LT 1,403 1,416 1,433 1,446 1,463

LUPIN 761 781 797 817 833

M&M 957 968 981 992 1,005

MARUTI 1,544 1,561 1,590 1,608 1,637

NMDC 101 102 104 106 108

NTPC 143 144 146 148 150

ONGC 314 318 325 329 336

PNB 639 647 661 669 683

POWERGRID 109 110 112 113 114

RANBAXY 300 323 340 362 379

RELIANCE 854 863 877 886 901

RELINFRA 342 350 362 369 381

SBIN 1,954 1,972 2,000 2,019 2,047

SESAGO A 145 148 151 154 157

SUNPHARMA 984 996 1,012 1,024 1,039

TATAMOTORS 279 283 286 289 292 TATAPOWER 85 86 87 88 89

TATASTEEL 276 279 283 286 289

TCS 1,477 1,489 1,499 1,510 1,520

ULTRACEMCO 1,892 1,907 1,923 1,938 1,954


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esearch Team Tel: 022 - 30940000 E-mail: [email protected] Website: www.angelbroking.com

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Research TeamShardul Kulkarni - Head Technicals Sameet Chavan - Technical AnalystSacchitanand Uttekar - Technical Analyst

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daily technical report, 03.07.2013

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