Daily Technical Report
July 19 , 2013
Exhibit 1: Nifty Daily Chart
Sensex (20128) / NIFTY (6038)
Yesterday, our benchmark indices opened tad higher
considering mixed cues from other Asian bourses. For the
most part of the session, we witnessed a range bound
movement; but during the latter half, indices managed to
move beyond early morning high and eventually closed at
the highest point of the day. All sectors ended in the positive
territory. Previously underperforming sectors like, the Realty,
Banking and Consumer Durables led yesterday’s rally. The
Advance to Decline ratio was in favor of advancing counters.
(A=1184 D=1137) (Source-www.bseindia.com )
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
19407 / 5866 and 18568 / 5616 levels respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
19577 / 5893 and 19460 / 5882, respectively.
Source: Falcon:
The weekly ‘RSI’ and ‘Stochastic’ oscillators are positively
poised.
Actionable points:
The 61.8% and 78.60% Fibonacci retracement levels of
the fall from 20444 / 6229 to 18467/ 5566 are placed
View
Bullish above 6051
at 19689 / 5976 and 20021 / 6088, respectively.
Expected Target
6088
The daily chart depicts a ‘Bullish Pennant’ pattern
Support Levels
5974 - 5926
breakout.
Trading strategy:
Yesterday, during the first half, our benchmark indices
slipped into a consolidation mode. Considering the hourly
chart, it is clearly seen that indices found a decent support
near ’20 EMA’ placed at 19915 / 5971. A sharp up move
towards the fag end of the session pushed indices
substantially higher and in the process, indices managed to
break Monday’s high of 20073 / 6038. We continue to
maintain our stance that indices are likely to test the near
term target of 20200 / 6088 or even may move beyond it.
On the flipside, 19778 - 19649 / 5926- 5910 is now likely
to act as a strong support band for our market.
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Daily Technical Report
July 19, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11188)
Yesterday, the Bank Nifty opened nearly half a percent higher
considering positive opening of our benchmark indices.
However, as per the general previous trend, index
experienced a strong selling pressure in the first half. As a
result, the Bank Nifty initially corrected nearly 2% lower from
its opening price. However, post midsession, the Banking
heavyweight, Axis Bank, posted a stellar set of 1QFY2014
numbers. As a result, the stock price surged nearly 6% from
the day’s low. This had a rub off effect on other banking
counters, which eventually pulled the Bank Nifty substantially
higher from the low. Going forward, Wednesday’s low of
10829 would now act as a key support for Bank Nifty. On the
higher side, any move beyond previous high of 11264 would
push the index higher to test 11460 - 11589 levels.
Actionable points:
View
Bullish above 11264
Expected targets
11460 - 11589
Support Level
10829
Source: Falcon:
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Daily Technical Report
July 19, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,866
19,997
20,087
20,218
20,308
NIFTY
5,945
5,991
6,021
6,068
6,098
BANKNIFTY
10,688
10,938
11,087
11,337
11,487
ACC
1,255
1,265
1,279
1,289
1,303
AMBUJACEM
201
206
209
215
218
ASIANPAINT
4,927
5,070
5,149
5,293
5,372
AXISBANK
1,125
1,182
1,215
1,271
1,304
BAJAJ-AUTO
1,865
1,881
1,900
1,916
1,935
BANKBARODA
534
550
561
577
587
BHARTIARTL
311
317
321
328
331
BHEL
179
184
187
193
196
BPCL
337
340
344
347
350
CAIRN
291
298
301
308
312
CIPLA
402
408
412
418
422
COALINDIA
283
287
291
295
298
DLF
164
168
170
173
176
DRREDDY
2,298
2,319
2,333
2,354
2,368
GAIL
315
320
323
328
332
GRASIM
2,735
2,770
2,790
2,825
2,845
HCLTECH
841
850
864
873
888
HDFC
807
818
826
838
846
HDFCBANK
645
665
677
696
708
HEROMOTOCO
1,661
1,696
1,721
1,756
1,781
HINDALCO
101
103
104
106
107
HINDUNILVR
642
665
692
715
742
ICICIBANK
938
961
976
1,000
1,015
IDFC
123
125
127
130
131
INDUSINDBK
447
456
463
472
479
INFY
2,707
2,754
2,786
2,833
2,864
ITC
361
365
368
372
376
JINDALSTEL
209
213
217
220
225
JPASSOCIAT
48
49
51
52
53
KOTAKBANK
659
685
705
732
751
LT
960
973
981
993
1,001
LUPIN
862
876
891
905
919
M&M
848
861
876
889
904
MARUTI
1,387
1,417
1,436
1,465
1,485
NMDC
101
103
105
107
108
NTPC
143
145
147
148
150
ONGC
296
305
311
320
326
PNB
606
622
631
647
656
POWERGRID
110
110
111
112
112
RANBAXY
326
331
335
340
344
RELIANCE
905
911
915
922
926
RELINFRA
353
369
380
396
407
SBIN
1,775
1,800
1,815
1,840
1,855
SESAGOA
144
147
150
152
155
SUNPHARMA
1,098
1,108
1,120
1,131
1,143
TATAMOTORS
278
282
285
290
293
TATAPOWER
90
92
93
94
95
TATASTEEL
237
241
243
247
249
TCS
1,617
1,639
1,666
1,687
1,714
ULTRACEMCO
1,899
1,912
1,925
1,938
1,952
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Daily Technical Report
July 19, 2013
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
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Head - Technicals
Sameet Chavan
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Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
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