Daily Technical Report
April 03, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19041) / NIFTY (5748)
Yesterday, indices opened on a flat note considering quiet
mood across the globe. We witnessed a sideways price
action during the first half but post midsession indices surged
higher and maintained their positive bias till the fag end of
the session. All the sectors ended on a positive note. The
advance to decline ratio was strongly in favor of advancing
counters (A=1953 D=827) (Source-www.bseindia.com)
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19069 / 5759 and 19149 / 5795 levels, respectively.
The ‘200 Day SMA’ is placed at 18556 / 5627.
We are witnessing a ‘Downward Sloping’ trend line
support drawn by joining the lows of December 18,
2012 and March 04, 2013.
The daily momentum oscillators viz, the ‘RSI
-
Source: Falcon:
Smoothened’ is now signaling a positive crossover.
Actionable points:
Trading strategy:
Yesterday post midsession, we witnessed immense buying
View
Bullish Above 5772
interest among market participants. As a result, indices
Expected Target
5820
traversed the stiff resistance of hourly '89 EMA' and gradually
Support levels
5687 - 5675
moved higher. We are now observing that indices have now
approached '20-day EMA' at 5760, which may act as
resistance for the day. On the other hand, the daily 'RSI-
Smoothened' oscillator is now signaling a positive crossover.
Hence, the possibility of crossing the '20-day EMA' and a
surge in price action over the next few sessions cannot be
ruled out. Going forward, a move beyond 19108 / 5772
may push indices higher to test the next resistance level of
19210 / 5820. Conversely, yesterday's low of 18826 / 5687
may provide decent support for the market.
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Daily Technical Report
April 03, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11523)
Yesterday, Bank Nifty opened on a muted note in line
with our benchmark indices and subsequently traded in a
narrow range during initial part of the session. However,
during the second half, buying interest mainly in the PSU
banking counters led the index to close near day’s high.
On the hourly chart we are now witnessing a Bullish
‘Head & Shoulder’ pattern breakout implying a target of
11950. In addition the momentum oscillators on the daily
chart continue to be positively poised. Hence any dip in
the index should be used as a buying opportunity. On the
downside 11460 - 11330 levels are likely to act as
support for the day. The stop loss for the trade should be
placed at the 11300 mark.
Actionable points:
View
Bullish Above 11550
Expected Target
11656 - 11719
Support Level
11460 - 11330
Source: Falcon:
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Daily Technical Report
April 03, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,742
18,891
18,976
19,125
19,210
NIFTY
5,663
5,705
5,730
5,773
5,797
BANKNIFTY
11,291
11,407
11,478
11,594
11,664
ACC
1,145
1,161
1,171
1,187
1,197
AMBUJACEM
172
175
177
179
181
ASIANPAINT
4,818
4,854
4,912
4,948
5,006
AXISBANK
1,278
1,290
1,305
1,317
1,332
BAJAJ-AUTO
1,715
1,734
1,759
1,778
1,803
BANKBARODA
676
686
693
703
710
BHARTIARTL
288
290
292
294
297
BHEL
179
182
184
187
189
BPCL
367
372
377
383
388
CAIRN
280
287
291
298
302
CIPLA
383
388
391
395
398
COALINDIA
303
306
308
311
313
DLF
243
250
254
260
265
DRREDDY
1,805
1,822
1,833
1,850
1,861
GAIL
316
319
321
324
327
GRASIM
2,768
2,784
2,799
2,815
2,830
HCLTECH
783
789
794
801
805
HDFC
804
811
819
826
834
HDFCBANK
611
620
627
637
644
HEROMOTOCO
1,510
1,521
1,530
1,541
1,549
HINDALCO
90
92
93
94
95
HINDUNILVR
466
468
471
474
476
ICICIBANK
1,032
1,039
1,047
1,054
1,062
IDFC
140
144
146
149
151
INDUSINDBK
405
415
421
431
437
INFY
2,883
2,926
2,958
3,001
3,033
ITC
303
305
307
309
311
JINDALSTEL
336
343
348
356
361
JPASSOCIAT
67
68
69
70
71
KOTAKBANK
641
649
654
662
668
LT
1,380
1,403
1,417
1,440
1,454
LUPIN
624
630
638
644
651
M&M
844
853
859
868
875
MARUTI
1,239
1,273
1,295
1,329
1,350
NMDC
133
135
136
138
139
NTPC
142
143
144
145
146
ONGC
302
310
314
322
326
PNB
712
728
737
753
762
POWERGRID
104
105
106
108
109
RANBAXY
438
444
451
456
463
RELIANCE
771
783
790
801
808
RELINFRA
327
339
347
360
368
SBIN
2,049
2,095
2,121
2,167
2,194
SESAGOA
148
152
155
160
163
SUNPHARMA
796
824
839
866
881
TATAMOTORS
255
261
265
271
275
TATAPOWER
94
95
96
96
97
TATASTEEL
310
315
318
323
326
TCS
1,530
1,549
1,560
1,579
1,590
ULTRACEMCO
1,815
1,836
1,850
1,871
1,885
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Daily Technical Report
April 03, 2013
Research Team Tel: 022 - 30940000
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
Ankur Lakhotia
-
Technical Analyst
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