Daily Technical Report
June 26, 2012
Exhibit 1: Nifty Daily Chart
Sensex (16882) / NIFTY (5115)
The week began on a flat note in-line with mixed
global cues. Subsequently, indices moved higher
towards 5200 mark, but yet again failed to cross this
strong resistance zone as markets plunged post
announcement of the grossly inadequate financial
measures by RBI and Finance Ministry. On sectoral
front, Banking, Power and PSU stocks corrected
sharply during yesterday’s session; whereas
Consumer Durables sector ended with a marginal
gain. The advance to decline ratio was marginally in
favor of advancing counters (A=1420 D=1332)
(Source -www.bseindia.com).
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 16803 / 5075 and 16691 /
5061, respectively.
The ‘20-Week EMA’ is placed at 16854 / 5108
Source: Falcon
level.
Actionable points:
On the daily chart, indices are trading well
above the upper range of ‘Downward Sloping
Channel’ drawn by joining two highs of February
View
Neutral
22, 2012 - April 19, 2012 and low of March 7,
Resistance Levels
5150 - 5195
2012.
Support Levels
5093 - 5041 - 5015
The positive crossover in weekly ‘RSI’ momentum
oscillator and weekly ‘3 & 8 EMA’ is still intact.
Also, the weekly ‘RSI-Smoothened’ is now
positively poised.
Trading strategy:
Indices opened on a quiet note and made an attempt
to break 5200 mark during the first session of the
week. However the steps taken by the RBI proved to
be below market expectations and soured sentiment
yet again. This led indices to correct sharply lower to
test the 5100 mark. Going forward, 16799 / 5093
level is likely to act as an important intraday support
level. A sustainable move below this level may trigger
further selling pressure and indices then may correct
towards 16553 - 16636 / 5041 - 5015 levels. On
the upside, yesterday’s high of 17131 / 5195 remains
to be an intermediate resistance for the markets.
www.angelbroking.com
1
Daily Technical Report
June 26, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (9926)
Yesterday, Bank Nifty opened on a positive note and
traded in a narrow range during first half of the
session. However during the last hour of trade, selling
pressure near the resistance band of 10180 - 10225
led the index to close near the lowest point of the day.
We reiterate our view that the zone of 10180 - 10225
is likely to act as immediate resistance in coming
trading session. The price patterns and the placement
of oscillators on the daily chart indicate that ongoing
volatility is likely to continue for a few more sessions
before we get a sustainable move on either side. On
the downside, 9800 - 9760 levels are likely to act as
support in coming trading session. Positional traders
holding long positions can hold with a stop loss of
9800 level (Closing basis) on Bank Nifty spot.
Actionable points:
View
Neutral
Resistance Levels
10180 - 10225
Support Levels
9893 - 9800
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
June 26, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,677
16,780
16,955
17,058
17,234
NIFTY
5,049
5,082
5,138
5,171
5,227
BANKNIFTY
9,703
9,815
10,004
10,115
10,305
ACC
1,186
1,198
1,215
1,227
1,244
AMBUJACEM
165
166
169
170
172
ASIANPAINT
3,712
3,760
3,838
3,885
3,963
AXISBANK
990
1,001
1,018
1,029
1,045
BAJAJ-AUTO
1,527
1,538
1,549
1,559
1,571
BANKBARODA
676
687
705
716
733
BHARTIARTL
303
306
310
313
317
BHEL
212
215
220
222
227
BPCL
729
739
754
763
778
CAIRN
324
327
331
334
337
CIPLA
298
302
309
313
320
COALINDIA
329
333
339
343
349
DLF
185
188
193
196
200
DRREDDY
1,567
1,579
1,587
1,598
1,607
GAIL
336
340
345
349
354
GRASIM
2,411
2,440
2,490
2,519
2,569
HCLTECH
453
459
467
473
481
HDFC
639
642
644
647
649
HDFCBANK
527
532
540
545
554
HEROMOTOCO
1,966
1,998
2,054
2,086
2,141
HINDALCO
111
113
116
118
120
HINDUNILVR
456
458
461
463
466
ICICIBANK
826
836
854
864
881
IDFC
128
129
132
133
136
INFY
2,442
2,455
2,471
2,485
2,501
ITC
246
248
251
253
256
JINDALSTEL
416
422
433
440
451
JPASSOCIAT
67
68
70
72
74
KOTAKBANK
560
566
577
583
594
LT
1,331
1,343
1,363
1,375
1,395
M&M
673
681
694
702
716
MARUTI
1,091
1,102
1,118
1,130
1,145
NTPC
150
151
153
154
155
ONGC
263
268
275
280
287
PNB
751
763
779
791
808
POWERGRID
105
107
109
110
112
RANBAXY
474
479
487
491
499
RELIANCE
706
711
717
722
728
RELINFRA
513
521
536
544
558
SAIL
88
89
90
91
92
SBIN
2,040
2,078
2,139
2,176
2,237
SESAGOA
183
185
188
190
192
SIEMENS
675
687
706
718
737
STER
96
98
100
101
103
SUNPHARMA
602
606
612
615
621
TATAMOTORS
241
244
248
250
255
TATAPOWER
89
92
94
97
99
TATASTEEL
404
409
417
422
430
TCS
1,195
1,206
1,222
1,233
1,250
WIPRO
395
398
400
402
405
www.angelbroking.com
3
Daily Technical Report
June 26, 2012
Research Team Tel: 022 - 39357800
E-mail: [email protected]
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
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
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
4