Daily Technical Report
February 12, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19461) / NIFTY (5898)
The week began on a flat note as Asian markets were shut
on account of the Chinese New Year. Subsequently, indices
lingered in very narrow trading range of less than half a
percent to eventually close marginally in the negative
territory. Capital Goods, Teck and IT counters ended with
minor correction whereas; Realty, Healthcare and PSU stocks
were among the major gainers. The advance to decline ratio
was strongly in favor of declining counters (A=938 D=1061)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19739 / 5981 and 19190 / 5821 levels, respectively.
The Nifty has broken down from the ‘Upward Sloping
Channel’ (as shown in the chart).
The weekly ‘RSI Smoothened’ is now signaling a
negative crossover.
The ‘Hanging Man’ Japanese Candlestick pattern on the
Source: Falcon:
weekly chart is intact.
Actionable points:
Trading strategy:
The opening session of the week ended on a very quiet note.
View
Bearish Below 5879
Nevertheless, the bias remained negative throughout the
Expected Targets
5842 - 5800
session. During the session, 19414 / 5883 level provided
Resistance Levels
5953 - 5979
decent support for the market. Since, there is no major
change in the price structure; we continue to mention that
any sustainable move below 19414 / 5879 may trigger
strong pessimism in the market. . In this scenario, we may
witness a corrective move towards 19000 - 18870 / 5800 -
5735 levels. On the flipside, 19648 - 19768 / 5953 - 5991
levels would act as strong resistance for our benchmark
indices.
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Daily Technical Report
February 12, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12333)
Yesterday, Bank Nifty opened on a flat note and traded in a
narrow range throughout the session. We are now witnessing
a ‘Inside day’ candlestick pattern on the daily chart. The
mentioned pattern is a reversal pattern but requires
confirmation in the form of a close above the 12390 level.
As there is no major change in the chart structure we
reiterate that the primary bias remains negative but the
consolidation phase which started yesterday, may continue in
today’s session. On the upside 12390 - 12475 levels are
likely to act as resistance levels and 12230 - 12197 levels
are likely to act support for the day.
Actionable points:
View
Neutral
Resistance Levels
12390 - 12475
Support Levels
12230 - 12197
Source: Falcon:
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Daily Technical Report
February 12, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,347
19,404
19,474
19,530
19,600
NIFTY
5,855
5,877
5,900
5,922
5,945
BANKNIFTY
12,235
12,284
12,323
12,372
12,410
ACC
1,220
1,239
1,273
1,292
1,325
AMBUJACEM
184
186
189
191
194
ASIANPAINT
4,428
4,481
4,528
4,580
4,627
AXISBANK
1,436
1,465
1,482
1,511
1,528
BAJAJ-AUTO
2,017
2,031
2,047
2,060
2,076
BANKBARODA
753
759
769
775
784
BHARTIARTL
311
314
317
320
324
BHEL
204
206
208
210
212
BPCL
390
396
400
407
411
CAIRN
313
314
316
318
320
CIPLA
372
384
390
401
408
COALINDIA
333
336
339
342
345
DLF
265
268
271
274
277
DRREDDY
1,855
1,877
1,893
1,915
1,932
GAIL
331
333
336
338
341
GRASIM
2,932
2,985
3,018
3,071
3,105
HCLTECH
640
650
662
672
684
HDFC
788
794
802
809
817
HDFCBANK
646
651
656
661
666
HEROMOTOCO
1,667
1,686
1,705
1,724
1,743
HINDALCO
106
109
111
114
116
HINDUNILVR
445
453
458
466
471
ICICIBANK
1,107
1,115
1,125
1,132
1,142
IDFC
154
156
159
161
165
INFY
2,767
2,780
2,797
2,810
2,827
ITC
293
296
300
303
307
JINDALSTEL
395
400
409
414
423
JPASSOCIAT
71
72
73
74
75
KOTAKBANK
661
666
674
679
687
LT
1,468
1,479
1,497
1,508
1,526
LUPIN
587
591
594
598
601
M&M
869
876
884
891
899
MARUTI
1,531
1,545
1,570
1,584
1,609
NTPC
146
147
148
149
150
ONGC
303
306
310
313
317
PNB
846
853
863
869
879
POWERGRID
109
111
112
113
114
RANBAXY
422
424
428
431
434
RELIANCE
854
861
868
875
882
RELINFRA
477
486
493
502
508
SBIN
2,260
2,277
2,295
2,312
2,329
SESAGOA
166
169
171
174
176
SIEMENS
607
610
615
618
623
SUNPHARMA
741
745
750
754
759
TATAMOTORS
287
289
291
293
294
TATAPOWER
94
96
97
99
100
TATASTEEL
380
382
386
389
393
TCS
1,402
1,408
1,419
1,425
1,435
ULTRACEMCO
1,834
1,874
1,899
1,938
1,964
WIPRO
400
405
413
418
426
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Daily Technical Report
February 12, 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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