Daily Technical Report
February 05, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19751) / NIFTY (5987)
Yesterday, the week started slightly on the higher side in-line
with positive global cues. However, as expected, we
observed tremendous selling pressure at higher levels. This
resulted in a corrective move post midsession and markets
eventually closed in the negative territory. PSU Banks,
Healthcare and Power contributed heavily in yesterday’s fall
whereas the Auto sector was the only sector in green. The
advance to decline ratio was strongly in favor of declining
counters (A=886 D=1308) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19858 / 6016 and 19187 / 5821 levels, respectively.
On the daily chart, the benchmark indices are facing
resistance near the ‘Upward Sloping Trend Line’ drawn
by joining the highs of October 5, 2012 and January
18, 2012.
The weekly ‘RSI’ momentum oscillator as well as the
Source: Falcon:
Daily ‘ADX (9)’ indicator are now signaling a negative
crossover.
Actionable points:
The ‘Hanging Man’ Japanese Candlestick pattern on the
weekly chart has been confirmed.
View
Bearish below 5980
Expected Targets
5940 - 5897
Trading strategy:
Resistance Levels
6011 - 6039 - 6053
In our weekly report, we have mentioned the possibilities of
corrective down move in the near term. In-line with our
expectation, first day of the week ended lower despite having
positive opening. We continue to maintain our negative
stance on the market and expect the market to trend lower
towards levels of
19596
-
19406
/
5940
-
5897.
Considering negative closing from US and
European
markets, we expect gap down in today's trading session. On
the other hand, yesterday's high of 19902 / 6039 would act
as immediate resistance for our markets. Aggressive traders
should look at every bounce to add on to existing short
positions.
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Daily Technical Report
February 05, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12548)
Yesterday, we witnessed a positive opening and index traded
with a positive bias during the first half. However immense
selling pressure in PSU banks post the results of Bank of
Baroda, led the index to close just above the crucial support
level of 12500. Now on the daily chart, we are witnessing an
‘Upward Sloping Trend Line’ breakdown as mentioned in the
chart. Also, the placement of moving averages and
momentum oscillators suggests further correction once the
index breaches the support level of 12500. In this scenario,
we expect the Bank Nifty to test 12265 - 12140 levels. On
the flipside, 12615 - 12723 levels may act as resistance in
coming trading sessions.
Actionable points:
View
Bearish Below 12500
Expected Targets
12265 - 12140
Resistance Levels
12615 - 12723
Source: Falcon:
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Daily Technical Report
February 05, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,620
19,685
19,794
19,860
19,968
NIFTY
5,945
5,966
6,002
6,023
6,060
BANKNIFTY
12,388
12,468
12,596
12,676
12,804
ACC
1,276
1,288
1,309
1,321
1,342
AMBUJACEM
192
195
198
200
204
ASIANPAINT
4,490
4,566
4,617
4,693
4,744
AXISBANK
1,449
1,463
1,489
1,503
1,529
BAJAJ-AUTO
2,026
2,045
2,065
2,084
2,104
BANKBARODA
748
776
826
854
904
BHARTIARTL
324
328
331
335
338
BHEL
212
215
221
225
231
BPCL
409
414
421
427
434
CAIRN
318
320
324
327
331
CIPLA
391
397
407
414
424
COALINDIA
343
347
352
356
361
DLF
263
267
272
276
280
DRREDDY
1,871
1,892
1,926
1,947
1,981
GAIL
334
337
342
345
350
GRASIM
2,924
2,952
2,998
3,026
3,072
HCLTECH
672
677
685
690
697
HDFC
771
785
793
807
815
HDFCBANK
636
641
645
651
655
HEROMOTOCO
1,794
1,806
1,819
1,831
1,845
HINDALCO
111
112
114
115
116
HINDUNILVR
456
461
465
471
475
ICICIBANK
1,163
1,172
1,188
1,197
1,212
IDFC
149
154
163
167
176
INFY
2,723
2,745
2,768
2,790
2,813
ITC
303
305
308
310
313
JINDALSTEL
410
414
420
424
429
JPASSOCIAT
76
78
81
83
86
KOTAKBANK
663
670
675
682
688
LT
1,514
1,525
1,537
1,548
1,560
LUPIN
582
589
603
610
623
M&M
873
879
884
890
895
MARUTI
1,577
1,588
1,602
1,614
1,628
NTPC
153
154
156
157
159
ONGC
317
322
329
333
340
PNB
865
874
890
899
915
POWERGRID
110
111
111
112
112
RANBAXY
423
428
437
442
451
RELIANCE
874
880
891
897
908
RELINFRA
505
510
518
523
532
SBIN
2,291
2,322
2,376
2,406
2,460
SESAGOA
176
178
182
184
188
SIEMENS
628
632
639
644
650
SUNPHARMA
709
714
720
726
732
TATAMOTORS
285
289
293
296
300
TATAPOWER
98
99
101
103
105
TATASTEEL
388
391
398
402
408
TCS
1,334
1,345
1,356
1,368
1,379
ULTRACEMCO
1,857
1,877
1,895
1,916
1,934
WIPRO
404
406
408
410
413
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Daily Technical Report
February 05, 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
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
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