Daily Technical Report
June 19, 2012
Exhibit 1: Nifty Daily Chart
Sensex (16706) / NIFTY (5064)
Yesterday, we witnessed a gap opening on the back
of favorable news flow from Greece election.
However, post announcement of RBI monetary policy,
indices lost their early gains and plunged into the red
to test 5050 mark. On sectoral front, Banking, Realty
and FMCG counters corrected sharply during
yesterday’s session; whereas Consumer Durables
ended with a nominal gain. The advance to decline
ratio was strongly in favor of declining counters
(A=1001 D=1688) (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 16550 /
5019, respectively.
The ‘20-Week EMA’ is placed at 16830 / 5100
level.
On the daily chart, indices are trading near the
Source: Falcon
upper range of ‘Downward Sloping Channel’
drawn by joining two highs of February 22,
2012 - April 19, 2012 and low of March 7,
Actionable points:
2012.
View
Neutral
The positive crossover in weekly ‘RSI’ momentum
Expected target
5146 - 5190
oscillator is still intact. Also, the weekly ‘3 & 8
Support Levels
5040 - 5015
EMA’ is signaling a positive crossover.
Trading strategy:
Yesterday's RBI's decision of keeping Repo rate and
CRR unchanged soured sentiment amongst market
participants. This resulted in massive sell off post the
announcement and indices corrected more than 2%
from the day's high during the session. However this
has not changed the short term uptrend and can be
considered as a correction of the previous up move.
Thus going forward, we expect the index to take
support around 16553 / 5015 level, if in case indices
breach yesterday's low of 16636 / 5041. On the
upside, yesterday's high of 17110 / 5190 has now
become a major hindrance for the bulls. We are likely
to witness range bound activity over the next few
sessions within the mentioned range of 16553 / 5015
to 17110 / 5190 levels.
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Daily Technical Report
June 19, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (9750)
Yesterday, Bank Nifty opened on a positive note and
faced resistance near the level of 10225. However,
post RBI monetary policy announcement we witnessed
selling pressure which lead the index to close in the
negative territory. The “Evening Star” candlestick
pattern mentioned in our previous report is confirmed
as the index has managed to give a close well below
9813 level. However the momentum oscillator
stochastic, on the hourly chart, is placed in extreme
oversold condition and a pullback cannot be ruled
out. Thus on the upside 9898 - 9960 levels are likely
to act as resistance in coming trading session. On the
downside a move below 9695 level may lead to a
further decline and the index may test the strong
support zone of 9610 - 9595.
Actionable points:
View
Neutral
Resistance Levels
9898 - 9960
Support Levels
9610 - 9595
Source: Falcon
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Daily Technical Report
June 19, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,343
16,525
16,817
16,998
17,291
NIFTY
4,950
5,007
5,099
5,156
5,247
BANKNIFTY
9,379
9,564
9,881
10,067
10,383
ACC
1,200
1,213
1,231
1,244
1,262
AMBUJACEM
162
164
168
170
173
ASIANPAINT
3,743
3,804
3,892
3,952
4,040
AXISBANK
953
977
1,014
1,037
1,074
BAJAJ-AUTO
1,504
1,523
1,539
1,558
1,574
BANKBARODA
645
662
687
704
729
BHARTIARTL
303
306
310
314
318
BHEL
206
210
217
220
227
BPCL
724
731
740
748
757
CAIRN
322
327
331
336
339
CIPLA
300
303
307
310
315
COALINDIA
333
336
340
343
347
DLF
177
182
192
197
206
DRREDDY
1,503
1,523
1,556
1,576
1,609
GAIL
316
322
330
335
344
GRASIM
2,374
2,410
2,468
2,504
2,562
HCLTECH
442
456
473
487
504
HDFC
629
634
642
647
656
HDFCBANK
516
526
539
548
561
HEROMOTOCO
1,938
1,966
2,005
2,033
2,072
HINDALCO
117
120
123
126
130
HINDUNILVR
438
442
448
452
458
ICICIBANK
776
796
830
850
884
IDFC
121
124
129
132
137
INFY
2,470
2,491
2,518
2,539
2,565
ITC
238
240
245
248
253
JINDALSTEL
416
423
433
440
450
JPASSOCIAT
66
67
70
71
74
KOTAKBANK
551
560
575
584
598
LT
1,262
1,291
1,325
1,354
1,388
M&M
670
682
696
707
721
MARUTI
1,057
1,074
1,101
1,118
1,145
NTPC
145
147
150
152
155
ONGC
258
260
264
267
271
PNB
719
740
776
796
833
POWERGRID
105
106
107
108
109
RANBAXY
464
468
475
479
486
RELIANCE
699
709
722
732
744
RELINFRA
476
489
512
526
549
SAIL
89
91
92
94
95
SBIN
1,984
2,036
2,134
2,186
2,284
SESAGOA
176
179
185
188
194
SIEMENS
653
667
686
700
719
STER
90
93
98
101
105
SUNPHARMA
582
587
593
599
605
TATAMOTORS
226
232
240
246
254
TATAPOWER
88
90
93
95
97
TATASTEEL
408
414
420
425
431
TCS
1,228
1,243
1,265
1,279
1,301
WIPRO
380
387
395
403
411
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Daily Technical Report
June 19, 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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