Daily Technical Report
January 10, 2013
Sensex (19667) / NIFTY (5972)
Exhibit 1: Nifty Daily Chart
Yesterday, once again our benchmark indices opened on a
flat note and made a valiant attempt to move higher.
However post mid-session, we observed immense selling
pressure and markets fell below Tuesday’s low to close in the
negative territory. During the session, Consumer Durables,
FMCG, Metal and Capital goods counters influenced the fall
in the second half; whereas the Auto and Oil & Gas sectors
defended the market. The advance to decline ratio was
marginally in favor of declining counters (A=1395 D=1575)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19495 / 5927 and 18835 / 5722 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 December
11, 2012.
Source: Falcon:
Trading strategy:
We have observed that indices are facing tremendous
Actionable points:
resistance near the ‘Upward Sloping Trend Line’ mentioned
in our earlier reports. This is also supported by the ‘Negative
View
Neutral
Divergence’ in daily ‘RSI’ momentum oscillator. The impact
Resistance Levels
6020 - 6042
of these negative technical tools was seen yesterday during
Support Levels
5958 - 5935 - 5897
the second half. This has resulted in breakdown of the
‘Upward Sloping Channel’ in hourly chart. Hence, going
forward, if our benchmark indices manage to sustain below
yesterday’s low of 19627 / 5958, then indices may drift
lower towards 19509 - 19406 / 5935 - 5897 levels. On the
flipside, Wednesday’s high of 19824 / 6020 would act as
strong resistance in coming trading session.
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Daily Technical Report
January 10, 2013
Bank Nifty Outlook - (12718)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Index opened on a flat note and traded in a
narrow range during the first half but selling pressure
during the last hour of trade led the index to close marginally
in the negative territory. The negative crossover in
momentum oscillator “RSI” and “Stochastic” on the daily
chart mentioned in our previous report is still intact. We
reiterate our view that only a move outside the range of
12838 - 12615 will dictate a clear direction of the trend.
Within the mentioned range 12793 - 12838 levels are likely
to act as resistance and 12662 - 12615 are likely to act as
support for the day.
Actionable points:
View
Neutral
Resistance Levels
12793 - 12838
Support Levels
12662 - 12615
Source: Falcon:
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Daily Technical Report
January 10, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,509
19,588
19,706
19,785
19,903
NIFTY
5,922
5,947
5,983
6,008
6,045
BANKNIFTY
12,629
12,673
12,733
12,777
12,836
ACC
1,388
1,393
1,409
1,414
1,429
AMBUJACEM
195
196
200
200
204
ASIANPAINT
4,322
4,343
4,376
4,397
4,430
AXISBANK
1,334
1,342
1,352
1,360
1,370
BAJAJ-AUTO
2,143
2,150
2,177
2,185
2,212
BANKBARODA
852
861
875
884
898
BHARTIARTL
329
331
334
336
339
BHEL
230
234
239
243
248
BPCL
366
376
384
394
403
CAIRN
342
343
344
345
346
CIPLA
421
425
430
434
439
COALINDIA
353
359
365
370
376
DLF
228
231
235
238
242
DRREDDY
1,880
1,896
1,911
1,927
1,942
GAIL
360
365
369
374
378
GRASIM
3,113
3,136
3,164
3,187
3,215
HCLTECH
627
631
637
642
647
HDFC
819
825
835
840
850
HDFCBANK
664
666
669
671
674
HEROMOTOCO
1,827
1,838
1,866
1,876
1,905
HINDALCO
129
131
133
134
136
HINDUNILVR
511
515
522
527
534
ICICIBANK
1,166
1,173
1,181
1,188
1,195
IDFC
175
177
179
180
183
INFY
2,300
2,316
2,339
2,354
2,377
ITC
277
278
282
283
287
JINDALSTEL
440
444
451
455
462
JPASSOCIAT
97
97
99
99
101
KOTAKBANK
646
648
652
653
658
LT
1,541
1,546
1,564
1,568
1,587
LUPIN
583
588
595
599
607
M&M
948
956
965
974
983
MARUTI
1,542
1,556
1,576
1,589
1,609
NTPC
153
155
157
158
160
ONGC
286
289
291
295
297
PNB
871
879
893
902
915
POWERGRID
115
115
116
116
117
RANBAXY
503
505
509
512
515
RELIANCE
843
848
854
859
865
RELINFRA
549
554
562
568
576
SBIN
2,473
2,498
2,519
2,544
2,565
SESAGOA
192
194
198
201
204
SIEMENS
668
673
679
684
690
SUNPHARMA
745
753
760
768
775
TATAMOTORS
314
321
326
332
337
TATAPOWER
107
108
110
110
112
TATASTEEL
412
417
426
432
441
TCS
1,251
1,264
1,286
1,298
1,320
ULTRACEMCO
1,901
1,931
1,976
2,007
2,052
WIPRO
390
393
397
401
405
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Daily Technical Report
January 10, 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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