Daily Technical Report
May 03, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19736) / NIFTY (5999)
Yesterday, indices opened on a flat note in-line quiet trading
mood across the globe. During the initial hour itself, indices
managed to move beyond Tuesday’s high of 19620 / 5963
and eventually closed with more than a percent gain. For the
session all the sectors ended in the positive territory amongst
which IT, Teck and Capital Goods counters were among the
major gainers. The advance to decline ratio was in favor of
advancing counters (A=1271 D=1117) (Source-
www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19146/ 5806 and 19072/ 5787 levels, respectively.
The 61.8% and 78.6% Fibonacci retracement levels of
the fall from 20204 / 6112 to 18144 / 5477 are placed
Source: Falcon:
at 19416 / 5870 and 19765 / 5976.
Trading strategy:
Actionable points:
Yesterday, our benchmark indices traded with strong positive
View
Neutral
bias throughout the session. In the process, Nifty has
Support Levels
5910 - 5860
managed to close convincingly above the stiff resistance of
Resistance Levels
6025
5976. The coming trading session is expected to trade with
immense volatility on account of RBI monetary policy. Hence,
we advise traders to remain light on positions and trade with
strict stop losses. We are of the view that a 25 bps cut in
interest rates is already factored in by the markets and would
fail to impress the street. Any bigger positive development
from the event may result in continuation of the uptrend in
the near term as well. The immediate resistance is seen at
19865 / 6025. Hence, a sustainable move beyond this level
would push indices higher to test ’52-week’ high of 20204 /
6112. On the flipside, a disappointing outcome from the
policy may trigger pessimism in the market. In this case,
indices may slide towards 19451 - 19249 / 5910 - 5860
levels.
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Daily Technical Report
May 03, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12710)
Yesterday, Bank Nifty opened on a flat note and gained
strength during the first half of session. During the second
half we witnessed a consolidation in the index. In this process
the index convincingly broke out of the narrow range of
12330 - 12680 and managed to give a close above it. Post
a steep rise in the index the risk to reward ratio is not in favor
of the bulls. Hence traders are advised to refrain from
creating fresh long positions in the index. As mentioned
previously, Today’s session is likely to be volatile on account
of ‘RBI’ monetary policy. For the day 12851 - 12952 levels
are likely to act as resistance and 12660 - 12515 levels are
likely to act as support.
Actionable points:
View
Neutral
Resistance levels
12851 - 12952
Source: Falcon:
Support Levels
12660 - 12515
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Daily Technical Report
May 03, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,319
19,527
19,660
19,868
20,000
NIFTY
5,868
5,934
5,977
6,042
6,085
BANKNIFTY
12,452
12,581
12,682
12,811
12,912
ACC
1,223
1,236
1,248
1,261
1,273
AMBUJACEM
184
187
189
192
194
ASIANPAINT
4,636
4,682
4,716
4,762
4,796
AXISBANK
1,465
1,490
1,510
1,535
1,554
BAJAJ-AUTO
1,830
1,845
1,872
1,887
1,914
BANKBARODA
683
698
706
721
729
BHARTIARTL
293
305
315
327
337
BHEL
188
190
192
193
195
BPCL
411
414
418
421
425
CAIRN
302
304
307
310
313
CIPLA
402
405
409
413
417
COALINDIA
311
314
318
322
326
DLF
232
235
239
242
245
DRREDDY
1,987
1,998
2,017
2,028
2,047
GAIL
339
343
348
352
357
GRASIM
2,889
2,919
2,949
2,979
3,009
HCLTECH
706
721
736
751
766
HDFC
835
849
860
874
885
HDFCBANK
678
685
690
697
701
HEROMOTOCO
1,571
1,593
1,632
1,654
1,693
HINDALCO
94
95
96
97
98
HINDUNILVR
563
567
575
580
588
ICICIBANK
1,146
1,159
1,173
1,186
1,200
IDFC
151
154
157
159
162
INDUSINDBK
460
466
472
478
483
INFY
2,216
2,251
2,271
2,307
2,327
ITC
321
328
331
337
341
JINDALSTEL
297
301
307
311
317
JPASSOCIAT
73
75
77
79
81
KOTAKBANK
691
704
715
728
738
LT
1,478
1,515
1,538
1,575
1,598
LUPIN
686
692
700
705
714
M&M
889
921
945
977
1,001
MARUTI
1,609
1,645
1,677
1,712
1,745
NMDC
124
126
127
128
129
NTPC
155
158
159
162
164
ONGC
319
324
328
333
337
PNB
748
758
769
780
790
POWERGRID
110
112
114
117
118
RANBAXY
446
450
454
459
463
RELIANCE
774
789
798
812
821
RELINFRA
368
379
387
398
406
SBIN
2,235
2,267
2,297
2,329
2,359
SESAGOA
154
156
158
160
163
SUNPHARMA
935
951
963
979
990
TATAMOTORS
288
293
297
301
305
TATAPOWER
93
94
95
95
96
TATASTEEL
300
302
304
307
309
TCS
1,350
1,392
1,415
1,457
1,481
ULTRACEMCO
1,830
1,857
1,893
1,919
1,955
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Daily Technical Report
May 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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