Daily Technical Report
April 04, 2013
Exhibit 1: Nifty Daily Chart
Sensex (18802) / NIFTY (5673)
Yesterday, once again indices opened on a flat note
considering quiet mood across the globe. However,
significant selling pressure in the large cap counters during
the second half led the indices to close well inside the
negative territory. Most of the sectors ended well inside the
negative territory except for Health Care and Power counters
which ended with marginal gains. The advance to decline
ratio was in favor of declining counters (A=1313 D=1449)
(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.
Source: Falcon:
The daily momentum oscillators viz, the ‘RSI
-
Smoothened’ is now signaling a positive crossover.
Actionable points:
Trading strategy:
Despite, overnight positive cues from European and US
View
Neutral
indices, our benchmark indices opened in the red. During
Resistance levels
5754
yesterday’s session, we observed that indices were struggling
Support levels
5650 - 5604
to cross the stiff resistance of daily ’20 EMA’ placed around
19043
/
5760 level mentioned in our earlier report.
Eventually, markets slumped in late trades to close nearly
1.5% down on the back of massive selling pressure in major
index heavyweights. Going forward, if indices sustain below
yesterday’s low of 18721 / 5650, then we may witness
continuation of yesterday’s pessimism. In this scenario
indices may test the recent lows of 18568 / 5604 level. On
the flipside, Tuesday’s high of 19061 / 5754 would now act
as strong resistance for the market. Further, the positive
crossover in daily ‘RSI-Smoothened’ oscillator is still intact.
The impact of this technical tool would be seen once indices
sustain above 19061 / 5754 level.
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Daily Technical Report
April 04, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11341)
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,
similar to the benchmark indices, selling pressure during
the last hour trade led the index to close inside the
negative territory. The momentum oscillators on the daily
and hourly chart paint mixed picture, hence we believe
that volatility is set to rise in coming session. On the
downside 11230 - 11176 levels are likely to act as
support whereas 11425 - 11481 levels are likely to act as
resistance for the day.
Actionable points:
View
Neutral
Resistance Levels
11425 - 11481
Support Levels
11230 - 11176
Source: Falcon:
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Daily Technical Report
April 04, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,539
18,671
18,853
18,984
19,166
NIFTY
5,594
5,634
5,689
5,729
5,784
BANKNIFTY
11,099
11,221
11,406
11,529
11,713
ACC
1,146
1,154
1,165
1,173
1,185
AMBUJACEM
166
169
173
176
180
ASIANPAINT
4,807
4,846
4,880
4,919
4,953
AXISBANK
1,244
1,261
1,288
1,306
1,333
BAJAJ-AUTO
1,639
1,666
1,711
1,738
1,784
BANKBARODA
651
662
677
688
703
BHARTIARTL
271
276
284
289
298
BHEL
176
180
185
188
193
BPCL
369
372
376
379
382
CAIRN
284
288
293
296
301
CIPLA
380
385
392
396
403
COALINDIA
294
298
303
307
313
DLF
234
239
249
254
263
DRREDDY
1,824
1,831
1,838
1,845
1,852
GAIL
307
311
317
320
327
GRASIM
2,729
2,753
2,777
2,801
2,825
HCLTECH
757
769
788
800
819
HDFC
796
804
811
818
825
HDFCBANK
613
618
625
630
637
HEROMOTOCO
1,455
1,476
1,509
1,531
1,564
HINDALCO
87
89
91
93
96
HINDUNILVR
455
459
465
469
475
ICICIBANK
1,002
1,017
1,040
1,054
1,077
IDFC
139
141
145
148
151
INFY
2,920
2,944
2,972
2,996
3,024
ITC
302
305
307
310
312
JINDALSTEL
329
337
349
356
368
JPASSOCIAT
66
67
69
70
72
KOTAKBANK
639
645
652
658
665
LT
1,330
1,355
1,391
1,416
1,452
LUPIN
626
630
636
641
647
M&M
828
836
849
857
870
MARUTI
1,276
1,290
1,309
1,323
1,342
NTPC
142
144
145
147
149
ONGC
301
306
311
316
322
PNB
705
716
734
745
764
POWERGRID
105
106
106
107
107
RANBAXY
440
446
451
457
462
RELIANCE
754
765
782
793
810
RELINFRA
324
334
349
358
373
SBIN
2,051
2,078
2,117
2,144
2,184
SESAGOA
149
151
154
156
160
SIEMENS
511
517
529
535
547
SUNPHARMA
836
850
864
878
891
TATAMOTORS
249
253
260
264
271
TATAPOWER
91
94
98
100
104
TATASTEEL
310
313
319
323
329
TCS
1,506
1,525
1,550
1,569
1,594
ULTRACEMCO
1,817
1,834
1,850
1,867
1,883
WIPRO
441
445
450
454
458
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Daily Technical Report
April 04, 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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