Daily Technical Report
January 11, 2013
Sensex (19664) / NIFTY (5969)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a gap up opening on the back
positive global cues but indices pared early gains to
eventually close marginally below yesterday’s close. During
the session, Power, Healthcare, Metal and Capital goods
counters were among the biggest losers; whereas Banking
and Oil & Gas sectors defended the market. The advance to
decline ratio was strongly in favor of declining counters
(A=1183 D=1797) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19511 / 5931 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.
Trading strategy:
Despite the strong corrective move during the second half on
Source: Falcon:
Wednesday, indices managed to open with a decent upside
gap in yesterday’s session. At present, indices have closed
Actionable points:
below the hourly ‘Upward Sloping Channel’ mentioned in
our previous report. Considering the ‘Negative Divergence’
View
Neutral
in daily ‘RSI’ momentum oscillator, we reiterate our view that
Resistance Levels
6020 - 6042
the possibility of testing 19509 - 19406 / 5935 - 5897
Support Levels
5935 - 5897
levels, is quite high. On the flipside, Wednesday’s high of
19824 / 6020 would act as strong resistance in coming
trading session. The earning season kicks off with Infosys
declaring results today and that can prove to be a catalyst
for a decisive move.
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Daily Technical Report
January 11, 2013
Bank Nifty Outlook - (12802)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Bank Nifty opened on a positive note and traded
in a narrow range throughout the session. Looking at the
chart structure on the hourly chart we can see a trend line
breakout coupled with positive placement of momentum
oscillators. Thus if the index manages to move beyond the
12838 level, we expect a rally towards 12892 - 12964
levels. On the downside 12715 - 12688 levels are likely to
act as support for the day.
Actionable points:
View
Bullish Above 12838
Expected Targets
12892 - 12964
Support Levels
12715 - 12688
Source: Falcon:
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Daily Technical Report
January 11, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,494
19,579
19,681
19,766
19,869
NIFTY
5,916
5,942
5,974
6,000
6,032
BANKNIFTY
12,649
12,726
12,774
12,851
12,899
ACC
1,354
1,367
1,385
1,398
1,416
AMBUJACEM
187
189
194
196
200
ASIANPAINT
4,310
4,336
4,377
4,403
4,444
AXISBANK
1,332
1,350
1,363
1,381
1,395
BAJAJ-AUTO
2,104
2,121
2,149
2,166
2,194
BANKBARODA
865
874
880
890
896
BHARTIARTL
323
327
330
334
337
BHEL
227
229
234
236
241
BPCL
369
375
385
391
402
CAIRN
334
337
341
344
349
CIPLA
419
422
427
430
435
COALINDIA
359
362
367
371
376
DLF
229
231
234
236
239
DRREDDY
1,880
1,895
1,909
1,924
1,938
GAIL
359
363
370
375
382
GRASIM
3,053
3,090
3,137
3,174
3,221
HCLTECH
629
635
643
650
658
HDFC
812
819
827
834
842
HDFCBANK
662
669
673
680
685
HEROMOTOCO
1,829
1,839
1,852
1,862
1,875
HINDALCO
126
128
131
133
136
HINDUNILVR
509
513
517
521
526
ICICIBANK
1,150
1,165
1,176
1,191
1,203
IDFC
176
178
179
181
183
INFY
2,291
2,307
2,325
2,340
2,358
ITC
277
279
281
283
284
JINDALSTEL
442
445
450
453
457
JPASSOCIAT
94
96
97
99
100
KOTAKBANK
643
648
655
661
667
LT
1,515
1,531
1,546
1,562
1,577
LUPIN
571
578
588
595
605
M&M
943
952
963
972
983
MARUTI
1,550
1,561
1,575
1,586
1,600
NTPC
151
152
155
156
158
ONGC
292
297
300
305
308
PNB
877
882
891
897
905
POWERGRID
112
113
115
116
118
RANBAXY
498
502
507
511
516
RELIANCE
840
845
852
857
864
RELINFRA
551
558
565
573
580
SBIN
2,509
2,524
2,538
2,553
2,567
SESAGOA
188
191
195
197
201
SIEMENS
673
675
679
681
684
SUNPHARMA
742
748
756
763
771
TATAMOTORS
327
330
334
337
341
TATAPOWER
107
108
109
110
111
TATASTEEL
413
417
422
425
430
TCS
1,238
1,248
1,265
1,275
1,292
ULTRACEMCO
1,825
1,862
1,927
1,964
2,029
WIPRO
386
391
398
403
411
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Daily Technical Report
January 11, 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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