Daily Technical Report
June 13, 2012
Exhibit 1: Nifty Daily Chart
Sensex (16863) / NIFTY (5116)
Yesterday, markets opened marginally lower on the
back of weak global cues. However, post IIP data
announcement, indices found decent support around
5020 mark and bounced sharply from the lows. As a
result, indices closed almost at the highest point of the
day. On sectoral front, Realty, Banking and Capital
Goods counters rallied sharply during yesterday's
session; whereas Health Care sector ended with
nominal loss. The advance to decline ratio was
marginally in favor of advancing counters (A=1361
D=1312) (Source -www.bseindia.com).
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 16800 / 5070 and 16380 /
4967, respectively.
The ‘20-Week EMA’ is placed at 16830 / 5100
level.
Indices have taken a support near 15860 /
Source: Falcon
4766 level, which is the
78.6% Fibonacci
Retracement level of the rise from 15135 / 4531
(Low on December 23, 2011) to 18524 / 5630
Actionable points:
(High on February 22, 2012).
View
Neutral
Resistance Levels
5129 - 5177
On the daily chart, indices are trading near the
upper range of ‘Downward Sloping Channel’
Support Levels
5058 - 5015
drawn by joining two highs of February 22,
2012 - April 19, 2012 and low of March 7,
2012.
The resistance for the day is seen at 17121 / 5177
levels. On the lower side, yesterday's low of 16553 /
The weekly ‘RSI’ momentum oscillator is
5015 may provide decent support for the markets.
signaling a positive crossover.
Trading strategy:
We witnessed a strong upside rally during yesterday's
session as indices bounced back sharply from
mentioned hourly 20-EMA. We are now observing
that indices have closed marginally above '200-day
SMA'. Hence, a sustainable move above yesterday's
high of 16898 / 5129 would lead to a 'Downward
Sloping Channel' breakout. In this case, we may
observe enhanced buying interest among market
participants and provide the necessary push to meet
the target of 17400 / 5270 in the next few sessions.
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Daily Technical Report
June 13, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (10139)
Yesterday, Bank Nifty opened on a pessimistic note,
but gained momentum during the last hour of trade
which led the index to close near the highest point of
the day. The “Bearish Engulfing” candlestick pattern
mentioned in our previous report holds it significance
at this juncture since the index failed to give a close
above 10158 level. Yesterday’s low of 9893 is now a
crucial support for the index and a fall below this low
may increase selling pressure in the Bank Nifty in the
next few sessions. On the upside, 10158 - 10230
levels are likely to act as resistance and 10000 -
9893 levels are likely to act as support, for the day.
Actionable points:
View
Neutral
Resistance Levels
10158 - 10230
Support Levels
10000 - 9893
Source: Falcon
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Daily Technical Report
June 13, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,427
16,645
16,771
16,989
17,115
NIFTY
4,973
5,044
5,087
5,158
5,200
BANKNIFTY
9,800
9,970
10,063
10,233
10,326
ACC
1,115
1,152
1,173
1,210
1,231
AMBUJACEM
145
152
156
163
167
ASIANPAINT
3,741
3,812
3,856
3,927
3,971
AXISBANK
1,014
1,036
1,049
1,070
1,083
BAJAJ-AUTO
1,533
1,552
1,567
1,586
1,601
BANKBARODA
698
714
723
738
748
BHARTIARTL
298
303
307
312
315
BHEL
211
215
218
222
224
BPCL
705
718
727
741
750
CAIRN
313
317
320
324
327
CIPLA
298
301
303
306
308
COALINDIA
328
332
335
339
342
DLF
188
193
196
201
204
DRREDDY
1,545
1,563
1,582
1,600
1,618
GAIL
329
333
336
341
344
GRASIM
2,280
2,331
2,360
2,411
2,440
HCLTECH
467
476
481
490
495
HDFC
649
654
657
662
665
HDFCBANK
533
541
546
554
559
HEROMOTOCO
1,929
1,960
1,987
2,018
2,046
HINDALCO
117
120
122
125
126
HINDUNILVR
428
430
433
435
438
ICICIBANK
805
822
832
849
858
IDFC
127
130
133
136
139
INFY
2,376
2,417
2,443
2,485
2,511
ITC
232
238
241
246
250
JINDALSTEL
420
426
431
437
443
JPASSOCIAT
66
68
69
70
71
KOTAKBANK
566
576
583
593
599
LT
1,250
1,283
1,302
1,335
1,355
M&M
665
680
690
705
715
MARUTI
1,084
1,114
1,134
1,164
1,183
NTPC
152
155
157
160
162
ONGC
251
256
260
265
268
PNB
752
777
791
816
830
POWERGRID
105
106
107
109
109
RANBAXY
465
471
479
485
493
RELIANCE
710
716
721
728
733
RELINFRA
490
506
516
533
543
SAIL
93
94
95
95
96
SBIN
2,104
2,155
2,184
2,234
2,263
SESAGOA
179
184
188
193
196
SIEMENS
662
673
679
690
696
STER
98
101
103
106
108
SUNPHARMA
571
575
580
584
589
TATAMOTORS
229
236
240
247
251
TATAPOWER
93
95
96
98
99
TATASTEEL
402
407
411
416
420
TCS
1,209
1,228
1,241
1,260
1,273
WIPRO
382
388
393
398
403
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Daily Technical Report
June 13, 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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