Daily Technical Report
January 02, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19581) / NIFTY (5951)
The opening session of the New Year began with an upside
gap as indicated by the SGX Nifty and subsequently indices
traded with a positive bias for the entire trading session to
close just above the 5950 mark. All the sectors ended in the
positive territory, out of which, the Realty, Metal and Banking
sectors contributed significantly in yesterday’s rally. The
advance to decline ratio was strongly in favor of advancing
counters (A=1930 D=977) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19307 / 5871 and 18728 / 5689 levels, respectively.
On the weekly chart, we are witnessing a breakout from
‘Downward Sloping Trend Line’ joining two significant
swing highs of 19811 / 5944 (April 2011) and 19137 /
5815 (Oct 2012) at 19050 / 5800 level.
The 38.20% and 50% Fibonacci retracement levels of
the rise from 18255 / 5548 (low on November 20,
2012) to 19612 / 5965 (high on December 11, 2012)
are at 19100 - 18930 / 5806 - 5755, respectively.
Source: Falcon:
Trading strategy:
Yesterday, positive news with regards to the fiscal cliff deal
resulted in an intraday rally in our markets. During the day,
Actionable points:
indices moved towards the 19613 / 5965 level which we
have been mentioning the upper end of the trading range in
View for the day
Positive above 5965
our earlier reports. Markets were unable to cross this level
Expected targets
6000 - 6025
yesterday; but going forward, any sustainable move beyond
Support Levels
5935 - 5919
this resistance would lead to a breakout from the range. This
may attract strong buying interest among market
participants. In this scenario, we expect an extended rally
towards 20050 - 20218 / 6000 - 6070 levels. Conversely,
19509 - 19491 / 5935 - 5919 levels may now provide
decent support in coming trading session.
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Daily Technical Report
January 02, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12654)
Yesterday, Bank Nifty opened with an upside gap and gained
strength as the day progressed to close near day’s high. As
expected we witnessed buying interest in the index above the
12540 level. The “ADX (14)” indicator is now placed at 32.68
level indicating that the up move is gaining strength. Thus if
the index sustains above yesterday’s high of 12664 then it is
likely to rally further towards 12760 - 12827 levels. On the
downside yesterday’s gap area of 12547 - 12513 may act as
support for the day.
Actionable points:
View for the day
Positive Above 12664
Expected targets
12760 - 12827
Support Levels
12547 - 12513
Source: Falcon:
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Daily Technical Report
January 02, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,456
19,519
19,571
19,633
19,686
NIFTY
5,921
5,936
5,950
5,965
5,979
BANKNIFTY
12,505
12,580
12,622
12,696
12,738
ACC
1,415
1,423
1,432
1,440
1,449
AMBUJACEM
200
201
202
203
205
ASIANPAINT
4,384
4,404
4,429
4,449
4,474
AXISBANK
1,354
1,358
1,365
1,369
1,376
BAJAJ-AUTO
2,107
2,120
2,135
2,147
2,162
BANKBARODA
866
875
880
889
894
BHARTIARTL
315
319
321
324
326
BHEL
227
230
232
235
236
BPCL
351
354
356
359
361
CAIRN
316
319
320
323
324
CIPLA
413
415
418
420
423
COALINDIA
354
357
359
362
364
DLF
230
233
234
237
239
DRREDDY
1,813
1,825
1,832
1,843
1,851
GAIL
354
356
358
360
362
GRASIM
3,164
3,182
3,191
3,209
3,218
HCLTECH
615
619
623
627
631
HDFC
826
830
835
839
844
HDFCBANK
678
681
683
687
689
HEROMOTOCO
1,871
1,884
1,898
1,911
1,925
HINDALCO
130
132
133
135
137
HINDUNILVR
522
526
530
534
538
ICICIBANK
1,136
1,147
1,155
1,166
1,173
IDFC
172
173
174
175
176
INFY
2,290
2,300
2,315
2,324
2,339
ITC
285
286
288
289
290
JINDALSTEL
445
453
459
467
473
JPASSOCIAT
97
98
99
99
100
KOTAKBANK
644
647
652
655
660
LT
1,607
1,616
1,624
1,633
1,642
LUPIN
607
611
616
620
625
M&M
931
936
940
946
949
MARUTI
1,469
1,492
1,508
1,531
1,547
NTPC
153
154
156
157
159
ONGC
264
266
268
270
272
PNB
867
880
888
901
909
POWERGRID
112
113
114
115
116
RANBAXY
500
504
507
511
514
RELIANCE
835
838
842
845
850
RELINFRA
514
529
538
553
562
SBIN
2,383
2,405
2,419
2,441
2,456
SESAGOA
195
197
198
200
202
SIEMENS
665
670
673
677
681
SUNPHARMA
729
734
742
747
755
TATAMOTORS
313
315
317
319
320
TATAPOWER
110
111
111
112
113
TATASTEEL
428
433
437
442
445
TCS
1,256
1,260
1,264
1,268
1,272
ULTRACEMCO
1,975
1,999
2,015
2,038
2,054
WIPRO
388
392
396
400
404
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Daily Technical Report
January 02, 2013
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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