Daily Technical Report
October 12, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18805) / NIFTY (5708)
Yesterday, our markets opened marginally on the higher
side, considering mixed global cues. As expected, our
benchmark indices found a decent intraday support around
the 18552 / 5638 level and we witnessed a sharp rally
during the second half. Eventually, Sensex / Nifty managed
to close above the psychological level of 18800 / 5700. The
rally was mainly led by some of the high beta sectors like,
Realty, Metals, Banking and Capital Goods. The defensive
sectors like, Health Care ended with very nominal losses. The
advance to decline ratio was strongly in favor of advancing
counters (A=1652 D=1179) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18542 / 5624 and 17835 / 5405 levels, respectively.
The monthly ‘RSI’ oscillator is moving higher from the 50
mark and the ADX (9) indicator is now signaling a
positive crossover.
Source: Falcon:
Trading strategy:
Actionable points:
The bulls showed tremendous resilience during yesterday's
session, as we witnessed more than 1% intraday rally from
the lows. This was mainly on the back of hopes that Infosys
View
Bullish Above 5721
will post decent numbers to kick start the earnings season.
Expected Targets
5757 - 5800
The sentiment was also boosted by anticipation of favorable
Support Levels
5697 - 5635
IIP data, which will be released during the session. As
expected, the support zone of '20-day EMA' and '5-week
We would advise traders to trade with proper stop losses and
EMA' turned out to be a biggest hurdle for the bears. Going
avoid taking undue risks as volatility is expected to increase
forward, we continue to mention the support zone of 18582
before the announcement of IIP numbers.
- 18542 / 5635 - 5624. Only a sustainable move below this
may trigger short term pessimism in the market. Conversely,
yesterday's high of 18848 / 5721 would be the immediate
resistance for the market. A move beyond this level may
attract further buying interest and hence, the indices may
rally towards their next resistance level of 18973 - 19100 /
5757 - 5800.
www.angelbroking.com
1
Daily Technical Report
October 12, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11431)
Yesterday, in line with our benchmark indices, Bank Nifty
too opened on a flat note and drifted below the mentioned
support level of 11270. However, a sharp intraday bounce
in banking heavyweights SBI
(+1.9%) and Axis Bank
(+2.4%) led the index to close near days high. Now on the
hourly chart, we are witnessing a positive crossover in
“RSI-Smoothened” and “5&20 EMA”. Hence we could see
further rally once the index trades convincingly above
yesterday’s high of 11477. In this case, index can test
higher levels of 11503 - 11540. On the downside, 11395
- 11375 is likely to act as support for the day.
Actionable points:
View
Bullish Above 11477
Expected Targets
11503 - 11540
Support Levels
11395 - 11375
Source: Falcon:
www.angelbroking.com
2
Daily Technical Report
October 12, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,478
18,642
18,745
18,908
19,011
NIFTY
5,605
5,656
5,689
5,740
5,773
BANKNIFTY
11,152
11,292
11,384
11,524
11,617
ACC
1,412
1,427
1,439
1,454
1,465
AMBUJACEM
205
207
210
212
214
ASIANPAINT
3,844
3,870
3,899
3,925
3,954
AXISBANK
1,063
1,098
1,119
1,155
1,175
BAJAJ-AUTO
1,699
1,729
1,747
1,777
1,795
BANKBARODA
742
766
779
802
816
BHARTIARTL
259
263
266
271
274
BHEL
237
244
249
256
260
BPCL
348
350
354
356
359
CAIRN
327
328
330
331
332
CIPLA
350
355
363
368
376
COALINDIA
351
355
357
361
364
DLF
208
215
219
225
229
DRREDDY
1,657
1,680
1,705
1,728
1,753
GAIL
366
371
376
381
386
GRASIM
3,278
3,312
3,337
3,371
3,395
HCLTECH
557
567
574
584
590
HDFC
730
739
745
754
759
HDFCBANK
614
620
624
629
633
HEROMOTOCO
1,776
1,791
1,810
1,825
1,844
HINDALCO
114
116
117
119
121
HINDUNILVR
553
562
568
577
582
ICICIBANK
1,038
1,048
1,058
1,068
1,078
IDFC
146
150
152
157
159
INFY
2,433
2,483
2,531
2,582
2,630
ITC
273
278
282
287
290
JINDALSTEL
411
415
418
422
425
JPASSOCIAT
84
88
90
93
95
KOTAKBANK
622
628
632
638
642
LT
1,573
1,613
1,636
1,676
1,700
LUPIN
522
536
553
567
584
M&M
835
843
850
858
865
MARUTI
1,326
1,347
1,369
1,391
1,413
NTPC
165
167
167
169
170
ONGC
274
277
279
282
285
PNB
778
800
812
834
846
POWERGRID
117
118
119
120
121
RANBAXY
522
528
535
541
548
RELIANCE
804
812
817
825
830
RELINFRA
491
504
512
525
533
SBIN
2,155
2,211
2,247
2,303
2,340
SESAGOA
166
170
172
176
179
SIEMENS
678
683
689
694
701
SUNPHARMA
705
713
718
725
730
TATAMOTORS
262
268
271
277
281
TATAPOWER
99
100
101
103
104
TATASTEEL
406
413
417
425
429
TCS
1,277
1,283
1,292
1,299
1,308
ULTRACEMCO
2,019
2,029
2,043
2,053
2,068
WIPRO
353
356
360
363
367
www.angelbroking.com
3
Daily Technical Report
October 12, 2012
Research Team Tel: 022 - 39357800
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or
other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in
the past.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have
investment positions in the stocks recommended in this report.
Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600
Sebi Registration No: INB 010996539
www.angelbroking.com
4