Daily Technical Report

August 29, 2012

Sensex (17632) / NIFTY (5335)

Yesterday, indices opened on a flat note in-line with mixed global cues and registered a low of 17570 / 5312. Subsequently, a minor bounce towards the end led indices to close marginally in the negative territory. Once again the selling pressure was observed mainly in Metal, Capital Goods and Banking counters; whereas IT, FMCG and Teck sectors were in the green during yesterdays session. The advance to decline ratio was strongly in favor of declining counters (A=929 D=1889) (Source www.bseindia.com). Formation On the weekly chart, the indices have closed above the Downward Sloping Trend Line resistance around 17650/ 5370 formed by joining the highs of 21109 / 6339 (November 5, 2010) 18524 / 5630 (February 24, 2012). The 20-day EMA and the 200-day SMA are placed at 17572 / 5327 and 16900 / 5110 levels, respectively. Looking at the Line Chart it is clear that indices have now confirmed the Higher Top - Higher Bottom formation on the weekly chart after August 28, 2009. The daily momentum oscillators viz., the RSI and the Stochastic are signaling a negative crossover. The weekly chart candle resembles a Shooting Star pattern.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Targets Resistance Levels

Negative Below 5312 5290 - 5240 5359 - 5399

Trading strategy: Yesterday, after a quiet opening, immense selling pressure resulted in a breach of Monday's low i.e. 5346 during the initial hour of trade. As expected, we witnessed a sharp down move in the markets but the '20-day EMA' level provided a decent support for the day. Going forward, a breach of yesterday's low of 17570 / 5312 would reinforce selling pressure and in this scenario, indices may slip towards 17450 - 17285 / 5290 5240 levels. Conversely, the resistance levels are seen around 17676 - 17820 / 5359 5399.

www.angelbroking.com

Daily Technical Report

August 29, 2012

Bank Nifty Outlook - (10059)

Yesterday, Bank Nifty opened on a pessimistic note in line with our benchmark indices and traded with extreme volatility throughout the session. As mentioned in our previous reports the momentum oscillators on daily chart continue with their sell signal. However, we are now witnessing Positive Divergence in momentum oscillator RSI on the hourly chart. Hence a minor pullback during the day cannot be ruled out. In this scenario the index may bounce towards 10151 10230 levels. On the downside 9964 9914 levels are likely to act as support in coming trading session. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 10151 - 10230 9964 - 9914 Source: Falcon

www.angelbroking.com

Daily Technical Report

August 29, 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 17,497 5,289 9,949 1,310 182 3,609 987 1,653 600 243 220 349 333 358 353 195 1,654 361 2,951 552 716 582 1,879 102 517 906 134 2,369 264 322 67 562 1,329 758 1,141 167 273 661 116 538 772 453 81 1,815 175 650 99 659 232 95 364 1,301 357 S1 17,564 5,312 10,004 1,323 185 3,667 1,002 1,672 613 246 221 352 337 363 356 198 1,675 364 2,980 555 720 586 1,897 104 520 914 136 2,395 266 341 69 569 1,345 765 1,153 170 277 669 119 544 781 460 82 1,830 179 662 102 670 235 96 371 1,326 360 PIVOT 17,638 5,335 10,078 1,337 187 3,709 1,022 1,700 623 248 223 355 342 367 361 201 1,687 367 3,010 558 724 590 1,918 107 523 927 137 2,423 267 361 71 575 1,372 771 1,168 171 283 677 121 552 788 466 83 1,845 183 671 106 677 238 98 380 1,340 363 R1 17,706 5,358 10,133 1,349 189 3,767 1,037 1,719 636 251 225 357 346 372 364 204 1,708 369 3,039 561 727 594 1,936 110 527 935 139 2,449 269 380 72 582 1,388 778 1,180 173 287 685 124 558 797 473 84 1,859 187 683 109 688 240 100 387 1,365 366 R2 17,780 5,382 10,206 1,363 192 3,808 1,057 1,748 646 253 226 360 351 377 369 207 1,720 372 3,069 565 732 598 1,957 113 529 948 140 2,478 270 400 74 588 1,414 784 1,195 175 294 693 126 566 803 480 85 1,874 192 691 113 694 243 101 397 1,380 369

www.angelbroking.com

Daily Technical Report

August 29, 2012
Research Team Tel: 022 - 39357800 E-mail: research@angelbroking.com Website: www.angelbroking.com

DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment. Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed on, directly or indirectly. Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past. Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with the use of this information. Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have investment positions in the stocks recommended in this report.

Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

For any Queries, Suggestions and Feedback kindly mail to sameet.chavan@angelbroking.com

Angel Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600

Sebi Registration No: INB 010996539

www.angelbroking.com