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Daily Technical Report

May 22, 2013

Sensex (20112) / NIFTY (6114)


Yesterday, indices opened quietly on the back of subdued cues from other Asian bourses. For most part of the session, indices remained under tremendous selling pressure except a sharp bounce that lasted hardly for an hour. Eventually, indices closed almost at the lowest point of the day. For the day IT and Teck stocks were among the major gainers, whereas Realty, Auto and Power sectors ended in the red. The advance to decline ratio was strongly in favor of declining counters. (A=940 D=1129) (Source www.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19370/ 5875 and 19805/ 6019 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19300/ 5851 and 18912 / 5745, respectively. The weekly RSI-Smoothened oscillator remains
Source: Falcon:

positively poised.

Trading strategy:
Yesterdays session can be perfectly described as tug-of-war between the bulls and the bears. During the session, due to such immense volatility, indices oscillated thrice within a percent range. However, the closing turned out to be in favor of the bears. In our previous report, we had mentioned that indices may show some weakness if trades below 20155 / 6146. In-line with our expectation, indices then went on to test next support level of 20048 / 6100. This price correction led to a closing below 5-day EMA. The possibility of further corrective down move would increase if indices sustain below 20048 / 6100. In this scenario, indices may slide towards 19955 / 6070 level, which precisely coincides with the hourly 89 EMA. Conversely, yesterdays high of 20308 / 6180 would act as immediate intraday resistance for our market. Only a sustainable move beyond this level may propel indices to resume its existing up trend. As a result, indices may move towards Mondays high of 20444 / 6230.

Actionable points:
View Expected targets Support Levels Bullish above 6160 6180 6230 6100 6070

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Daily Technical Report


May 22, 2013

Bank Nifty Outlook - (13067)


Yesterday, Bank Nifty opened on a quite note in line with our benchmark indices and traded with extreme volatility throughout the session to close with a loss of 0.87%. The index has managed to give a close below the mentioned support of 13100 which may trigger some loss of momentum in the index. Going forward we expect the ongoing volatility to continue, thus traders are advised to trade with strict stop losses. For the day a sustainable move below yesterdays low of 13038 may lead to a further fall towards the 12928 12859 levels. On the upside 13268 13333 are likely to act as resistance for the day. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 13268 13333 13038 12928 Source: Falcon:

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Daily Technical Report


May 22, 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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 19,929 6,070 12,894 1,196 182 4,677 1,497 1,819 716 298 198 394 291 412 302 233 1,981 329 2,963 724 882 697 1,659 108 582 1,182 155 486 2,344 325 297 74 750 1,572 750 969 1,658 120 146 318 801 110 427 817 406 2,306 157 950 285 91 301 1,450 1,845 S1 20,020 6,092 12,980 1,209 184 4,731 1,509 1,837 726 301 202 398 294 415 305 237 2,001 333 3,013 730 892 703 1,671 109 584 1,197 158 491 2,371 328 300 75 758 1,589 759 978 1,678 121 149 323 810 111 432 823 411 2,333 160 962 289 92 305 1,471 1,887 PIVOT 20,164 6,136 13,124 1,229 186 4,778 1,527 1,862 737 306 205 405 298 418 307 244 2,034 337 3,080 737 900 710 1,689 111 587 1,216 160 499 2,394 332 305 78 770 1,607 773 990 1,711 122 154 330 825 113 437 831 417 2,381 163 971 296 93 311 1,487 1,956 R1 20,256 6,158 13,211 1,242 188 4,832 1,539 1,880 747 309 209 410 301 421 310 248 2,054 340 3,130 743 911 716 1,702 112 589 1,231 162 505 2,421 335 308 79 778 1,624 782 1,000 1,731 123 157 335 834 114 441 837 422 2,409 166 983 300 94 315 1,508 1,998 R2 20,399 6,202 13,355 1,262 190 4,879 1,557 1,905 758 314 212 417 306 424 312 254 2,087 344 3,197 750 919 723 1,719 114 592 1,250 165 513 2,444 338 312 82 790 1,643 795 1,011 1,764 124 163 342 849 116 446 846 428 2,456 169 993 307 95 320 1,524 2,067

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Daily Technical Report


May 22, 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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