Daily Technical Report
August 03, 2012
Exhibit 1: Nifty Daily Chart
Sensex (17224) / NIFTY (5228)
Once again indices opened quietly in-line with mixed
global cues and yet again traded in a narrow range
throughout the session. Volumes were significantly
lower as market participants refrained from initiating
positions prior to the ECB meet. On the sectoral front,
Consumer Durables, Power and Capital Goods
closed in the positive territory; whereas Oil & Gas,
Banking and Metal counters remained under pressure
during yesterday’s session. The advance to decline
ratio was strongly in favor of advancing counters
(A=1502 D=1181) (Source -www.bseindia.com).
Formation
On the weekly chart, we are witnessing a
“Downward Sloping Trend Line” resistance near
17500 / 5325 formed by joining the highs of
21109 / 6339 (November 5, 2010) - 18524 /
5630 (February 24, 2012).
The ’20-day EMA’ and
’200-day SMA’ are
placed at 17042 / 5169 and 16879 / 5100
Source: Falcon
levels, respectively.
We are now observing a positive crossover in
daily ‘RSI - Smoothened’.
Actionable points:
Trading strategy:
Emulating Wednesday’s session, yesterday also our
View
Neutral
markets traded in a narrow range and only stock
Resistance Levels
5257 - 5300
specific action was observed during the day. Going
Support Levels
5154 - 5129
forward, we continue to mention 17004 / 5154 level
as a key support for the markets. A fall below this
level may trigger negative sentiments in the market. In
this case, indices may slip towards 16865 - 16760 /
5110 - 5077 levels. The candlestick pattern on the
daily chart represents a narrow range body formation
reflecting the indecisiveness at current levels. The
immediate resistance is seen at 17318 / 5257 level. A
move beyond this level may push indices higher to
test 17466 - 17575 / 5300 - 5335 levels.
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Daily Technical Report
August 03, 2012
Bank Nifty Outlook - (10380)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, for the second consecutive session we
witnessed a range bound activity. The momentum
oscillator “Stochastic” on the daily chart has entered
the overbought zone and signals that further
consolidation is likely. Thus, we reiterate our view that
the index is likely to trade in the range of 10500 -
10150. Only a sustainable move outside the
mentioned range will give us clear direction of the
trend. In the mentioned range 10416 - 10468 levels
are likely to act as resistance and 10290 - 10235
levels are likely to act as support in coming trading
session.
Actionable points:
View
Neutral
Resistance Levels
10416 - 10468
Support Level
10290 - 10235
Source: Falcon
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Daily Technical Report
August 03, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,120
17,172
17,209
17,261
17,298
NIFTY
5,198
5,213
5,225
5,240
5,252
BANKNIFTY
10,263
10,321
10,369
10,428
10,476
ACC
1,306
1,312
1,320
1,326
1,334
AMBUJACEM
181
182
184
186
188
ASIANPAINT
3,545
3,598
3,648
3,702
3,752
AXISBANK
1,035
1,047
1,054
1,066
1,073
BAJAJ-AUTO
1,572
1,599
1,615
1,642
1,658
BANKBARODA
649
653
658
662
667
BHARTIARTL
293
296
299
301
304
BHEL
217
220
222
225
227
BPCL
348
351
356
360
365
CAIRN
322
326
334
338
346
CIPLA
345
347
351
353
356
COALINDIA
339
343
347
351
355
DLF
204
206
208
210
213
DRREDDY
1,608
1,627
1,639
1,658
1,670
GAIL
347
350
352
355
357
GRASIM
2,851
2,885
2,904
2,938
2,957
HCLTECH
516
520
523
527
530
HDFC
688
692
696
700
705
HDFCBANK
571
577
583
589
595
HEROMOTOCO
1,902
1,932
1,957
1,988
2,013
HINDALCO
117
118
119
120
122
HINDUNILVR
462
465
470
473
477
ICICIBANK
949
954
959
964
968
IDFC
131
132
134
135
137
INFY
2,177
2,192
2,209
2,223
2,241
ITC
258
260
261
263
264
JINDALSTEL
394
400
404
410
414
JPASSOCIAT
73
74
75
76
77
KOTAKBANK
546
550
555
559
563
LT
1,357
1,374
1,385
1,402
1,414
M&M
687
691
695
699
703
MARUTI
1,107
1,116
1,125
1,134
1,143
NTPC
155
159
162
166
169
ONGC
272
275
278
280
283
PNB
720
725
728
732
736
POWERGRID
117
118
118
119
120
RANBAXY
494
498
502
506
510
RELIANCE
730
735
741
746
752
RELINFRA
498
504
511
517
524
SAIL
84
85
86
88
89
SBIN
1,980
1,996
2,013
2,028
2,045
SESAGOA
180
183
185
187
189
SIEMENS
659
663
671
676
683
STER
102
104
105
106
107
SUNPHARMA
648
652
656
660
664
TATAMOTORS
218
221
224
226
229
TATAPOWER
95
97
99
100
102
TATASTEEL
399
402
406
410
414
TCS
1,216
1,224
1,231
1,239
1,245
WIPRO
335
338
340
342
344
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Daily Technical Report
August 03, 2012
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
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