Daily Technical Report
August 14, 2012
Exhibit 1: Nifty Daily Chart
Sensex (17633) / NIFTY (5348)
The week started on a flat note in-line with mixed
global cues but a sharp up move during the last hour
of the session pushed indices significantly higher to
close marginally below
5350 mark. The Realty,
Consumer Durables and capital Goods sectors
contributed heavily during yesterdays up move;
whereas only Auto sector ended with a marginal loss.
The advance to decline ratio was in favor of
advancing counters (A=1474 D=1280) (Source -
www.bseindia.com).
Formation
On the weekly chart, the indices have precisely
tested the “Downward Sloping Trend Line”
resistance near 17727 / 5386 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 17284 / 5242 and 16900 / 5100
levels, respectively.
Source: Falcon
A weekly closing above 17727 / 5386 level
would confirm a ‘Higher Top - Higher Bottom’
Actionable points:
formation on the weekly chart after August 28,
2009.
View
Neutral
The candlestick pattern on the daily chart
Resistance Levels
5354 - 5386
resembles a “Shooting star” and signifies
Support Levels
5294 - 5260
resistance near 17727 / 5386 levels.
Trading strategy:
After a flat opening, indices once again found a
decent support around 5300 mark and strong buying
during the last hour of the trade pushed indices
higher to close near days high. Going forward,
17727 / 5386 level remains to be a strong and
important resistance for the market. We continue to
mention that a move beyond this level may attract
enhanced buying interest of market participants. As a
result, indices may rally higher to test 17900 - 18050
/ 5450 - 5500 levels. Conversely, 17450 / 5290 level
remains to be an important support for the market.
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Daily Technical Report
August 14, 2012
Bank Nifty Outlook - (10401)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, similar to the benchmark indices, the Bank
Nifty opened on a flat note but closed near day’s high
due to a surge in the last hour of trade. However
there is no significant change in the chart structure of
the daily chart. On the upside a move beyond 10456
is likely to push the indices further higher to test
10511- 10615 levels. We reiterate our view that
10240 is an important support level for the index and
only a breach of this support level will confirm a
further decline in the index.
Actionable points:
View
Neutral
Resistance Levels
10456- 10511
Support Levels
10306 - 10270
Source: Falcon
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Daily Technical Report
August 14, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,479
17,556
17,599
17,677
17,720
NIFTY
5,293
5,320
5,336
5,364
5,380
BANKNIFTY
10,236
10,319
10,367
10,450
10,498
ACC
1,330
1,345
1,355
1,370
1,379
AMBUJACEM
193
195
196
198
200
ASIANPAINT
3,656
3,714
3,750
3,808
3,844
AXISBANK
1,040
1,061
1,073
1,093
1,105
BAJAJ-AUTO
1,657
1,683
1,699
1,725
1,741
BANKBARODA
616
622
628
634
640
BHARTIARTL
255
257
260
262
265
BHEL
225
229
231
235
237
BPCL
325
338
348
361
371
CAIRN
323
326
328
331
333
CIPLA
344
347
350
353
356
COALINDIA
343
345
348
350
353
DLF
207
212
215
221
224
DRREDDY
1,629
1,634
1,640
1,646
1,651
GAIL
360
365
370
374
379
GRASIM
2,923
2,954
2,982
3,012
3,040
HCLTECH
530
537
540
546
550
HDFC
677
697
708
728
739
HDFCBANK
596
602
606
611
615
HEROMOTOCO
1,849
1,869
1,898
1,918
1,947
HINDALCO
117
119
122
124
127
HINDUNILVR
481
485
492
497
504
ICICIBANK
928
939
947
957
965
IDFC
129
131
132
135
136
INFY
2,286
2,303
2,317
2,334
2,348
ITC
262
264
267
269
271
JINDALSTEL
398
403
409
414
420
JPASSOCIAT
73
74
75
76
77
KOTAKBANK
570
577
582
589
594
LT
1,403
1,422
1,432
1,450
1,461
M&M
726
733
737
744
749
MARUTI
1,168
1,176
1,186
1,194
1,204
NTPC
170
171
172
173
174
ONGC
272
276
284
288
295
PNB
707
713
721
728
736
POWERGRID
117
119
119
121
122
RANBAXY
468
476
483
491
497
RELIANCE
775
782
786
792
796
RELINFRA
496
509
516
529
536
SAIL
83
84
85
86
87
SBIN
1,840
1,873
1,892
1,926
1,945
SESAGOA
190
192
194
197
198
SIEMENS
627
648
662
683
697
STER
110
112
113
115
116
SUNPHARMA
671
676
683
688
695
TATAMOTORS
220
224
228
232
236
TATAPOWER
98
99
101
102
103
TATASTEEL
386
391
396
401
406
TCS
1,246
1,256
1,268
1,278
1,289
WIPRO
344
350
353
359
363
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Daily Technical Report
August 14, 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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