Daily Technical Report
April 12, 2013
Exhibit 1: Nifty Daily Chart
Sensex (18542) / NIFTY (5594)
Yesterday, once again indices opened with more than half a
percent upside gap in-line with other positive Asian bourses.
Subsequently indices traded with extreme volatility to finally
close in the green. Realty, IT and Banking counters were
among the major gainers whereas Power, Metal and Oil &
Gas stocks ended with nominal losses. The advance to
decline ratio was in favor of advancing counters (A=886
D=796)
(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19040 / 5760 and 18766 / 5662 levels, respectively.
The ’89-week EMA’ and ‘200 Day SMA’ are placed at
18200 / 5500 and 18634 / 5650, respectively.
Source: Falcon:
The ‘Lower Top Lower Bottom’ formation on weekly
chart is still intact.
Actionable points:
Trading strategy:
For the second consecutive session, indices opened on
View
Bullish Above 5610
higher note and showed tremendous volatility during the
Expected Targets
5650 - 5680
session. Bulls were struggling to mark their existence at
Support levels
5542 - 5477
higher levels; but eventually managed to hold their ground
for the day. Yesterday's high of 18599 / 5610 almost
coincides with the stiff resistance of a trend line (as shown in
the chart). Further, higher volatility during the session
resulted in formation of narrow range body formation which
indicates indecisiveness art current levels. Accordingly, in
case of a fall below yesterday’s low of 18297 / 5542, indices
may resume negative trend and in this scenario the
possibility testing Wednesday's low of 18173 / 5477 cannot
be ruled out. On the upside a move beyond the high of
18599 / 5610 may result in a rally towards 18630 / 5650
level. All eyes are now on Infosys which declares results prior
to market opening and is likely to take centre stage for the
coming trading session.
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Daily Technical Report
April 12, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11307)
Yesterday, Bank Nifty opened with an upside gap in line
with our benchmark indices and traded with extreme
volatility to eventually close in the positive territory. The
positive crossover in ‘RSI’ momentum oscillator on the
daily chart is still intact. We are witnessing a “Falling
Wedge” pattern formation in the index. The bullish
implication of this pattern would be seen if the index
sustains above yesterday’s high of 11342. In this scenario
the index is likely to rally towards 11460 - 11510 levels.
On the downside yesterday’s gap are of 11154 - 11144
levels are likely to act as support for the day.
Actionable points:
View
Bullish Above 11342
Expected Target
11460 - 11510
Support Levels
11154 - 11144
Source: Falcon:
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Daily Technical Report
April 12, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,312
18,427
18,513
18,628
18,714
NIFTY
5,515
5,554
5,583
5,622
5,650
BANKNIFTY
11,080
11,193
11,267
11,381
11,455
ACC
1,120
1,132
1,147
1,158
1,173
AMBUJACEM
167
169
171
173
176
ASIANPAINT
4,468
4,511
4,555
4,598
4,641
AXISBANK
1,222
1,237
1,246
1,261
1,270
BAJAJ-AUTO
1,667
1,684
1,709
1,727
1,752
BANKBARODA
630
640
648
657
665
BHARTIARTL
266
271
276
280
286
BHEL
175
177
178
180
181
BPCL
360
363
368
372
377
CAIRN
757
773
784
800
810
CIPLA
286
289
293
295
300
COALINDIA
396
401
404
409
412
DLF
300
303
308
311
315
DRREDDY
232
239
245
252
257
GAIL
1,847
1,866
1,893
1,912
1,939
GRASIM
307
311
314
319
322
HCLTECH
2,611
2,649
2,704
2,742
2,797
HDFC
745
755
768
777
791
HDFCBANK
628
633
638
644
648
HEROMOTOCO
1,427
1,441
1,454
1,469
1,482
HINDALCO
88
89
90
92
93
HINDUNILVR
461
466
470
475
479
ICICIBANK
1,013
1,027
1,038
1,051
1,063
IDFC
139
141
144
146
148
INDUSINDBK
382
392
398
407
414
INFY
2,795
2,856
2,896
2,957
2,996
ITC
280
283
286
288
291
JINDALSTEL
321
325
331
335
341
JPASSOCIAT
65
66
67
68
69
KOTAKBANK
610
620
630
641
651
LT
1,339
1,359
1,373
1,393
1,407
LUPIN
615
630
640
655
665
M&M
813
823
830
839
847
MARUTI
1,385
1,407
1,419
1,441
1,453
NMDC
123
124
125
127
128
NTPC
138
139
141
142
144
ONGC
294
300
305
312
316
PNB
688
699
707
717
725
POWERGRID
102
103
104
105
105
RANBAXY
430
439
444
452
457
RELIANCE
753
762
773
783
794
RELINFRA
322
331
340
349
358
SBIN
1,991
2,017
2,033
2,059
2,075
SESAGOA
143
145
148
149
152
SUNPHARMA
851
862
868
879
886
TATAMOTORS
272
275
278
281
284
TATAPOWER
92
93
95
96
97
TATASTEEL
291
295
302
305
312
TCS
1,507
1,522
1,536
1,551
1,565
ULTRACEMCO
1,754
1,771
1,788
1,805
1,822
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Daily Technical Report
April 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
Ankur Lakhotia
-
Technical Analyst
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