Daily Technical Report
February 13, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19561) / NIFTY (5923)
Yesterday, after a flat opening our benchmark indices
remained in a very tight range during the first half. However,
some short covering in the second half led indices to close in
green even after negative December IIP numbers. Oil & Gas,
Healtcare and PSU counters were among the major gainers
in yesterday’s trading session. Undoubtedly Realty was the
most bitten down sector since Unitech and DB Realty shares
plunged almost 18 % each. The advance to decline ratio was
strongly in favor of declining counters (A=864 D=1289)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19722 / 5976 and 19200 / 5824 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.
Source: Falcon:
The ‘Hanging Man’ Japanese Candlestick pattern on the
weekly chart is intact.
Actionable points:
Trading strategy:
View
Bearish Below 5879
Expected Targets
5842 - 5800
Our benchmark indices ended the ten-session losing streak
Resistance Levels
5953 - 5979
and closed in green during yesterday’s trading session. In
spite of the positive closing, the up move should be termed
as relief rally
/ pullback of the current fall since the
undertone still remains bearish. Throughout the session,
19414 / 5879 acted as a strong support for the market.
Since, there are no major changes in the price structure; we
continue to mention that any sustainable move below 19414
/ 5879 level 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 13, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12405)
Yesterday, Bank Nifty opened on a flat note and traded in a
narrow range during major part of the session. However,
during the last hour of trade buying interest led the index to
close with a gain of 0.59%. The ‘Inside day’ candlestick
pattern mentioned in our previous report has been confirmed
as the index has managed to give a close above 12390
level. At this juncture we are also witnessing positive
crossover in ‘Stochastic’ momentum oscillator on the daily
chart. Thus going forward, although the primary bias
remains negative, a pullback towards the breakdown level of
12500 may be seen. On the upside 12500 - 12533 levels
are likely to act as resistance and 12337 - 12301 levels are
likely to act as support for the day.
Actionable points:
View
Neutral
Resistance Levels
12500 - 12533
Support Levels
12337 - 12301
Source: Falcon:
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Daily Technical Report
February 13, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,443
19,502
19,543
19,602
19,643
NIFTY
5,871
5,897
5,912
5,938
5,953
BANKNIFTY
12,260
12,333
12,374
12,447
12,488
ACC
1,212
1,226
1,245
1,258
1,278
AMBUJACEM
185
187
189
191
192
ASIANPAINT
4,446
4,478
4,509
4,541
4,572
AXISBANK
1,454
1,469
1,486
1,501
1,519
BAJAJ-AUTO
2,022
2,049
2,067
2,094
2,112
BANKBARODA
753
762
768
777
783
BHARTIARTL
311
316
320
326
329
BHEL
205
207
208
210
212
BPCL
395
403
407
415
420
CAIRN
314
316
318
320
321
CIPLA
387
390
394
397
401
COALINDIA
334
339
343
349
353
DLF
258
263
268
273
278
DRREDDY
1,895
1,905
1,913
1,923
1,931
GAIL
329
331
334
336
339
GRASIM
2,989
3,014
3,037
3,063
3,086
HCLTECH
645
662
671
688
697
HDFC
789
795
801
806
813
HDFCBANK
651
658
663
670
674
HEROMOTOCO
1,662
1,682
1,707
1,727
1,752
HINDALCO
110
111
112
114
115
HINDUNILVR
454
457
461
464
467
ICICIBANK
1,106
1,117
1,126
1,137
1,146
IDFC
151
153
156
158
161
INFY
2,725
2,740
2,757
2,772
2,789
ITC
297
298
300
301
303
JINDALSTEL
382
387
395
401
409
JPASSOCIAT
68
70
72
74
76
KOTAKBANK
665
668
671
675
678
LT
1,466
1,481
1,492
1,506
1,517
LUPIN
581
593
600
612
619
M&M
873
879
883
889
893
MARUTI
1,528
1,543
1,564
1,579
1,600
NTPC
146
147
148
148
149
ONGC
309
314
319
324
329
PNB
845
853
860
868
876
POWERGRID
109
111
113
115
117
RANBAXY
416
419
425
428
434
RELIANCE
859
867
874
882
889
RELINFRA
479
488
493
501
507
SBIN
2,265
2,281
2,294
2,310
2,323
SESAGOA
166
168
170
173
175
SIEMENS
608
612
615
618
621
SUNPHARMA
736
754
764
782
792
TATAMOTORS
288
293
297
302
305
TATAPOWER
95
96
97
97
98
TATASTEEL
380
382
385
388
390
TCS
1,396
1,403
1,409
1,416
1,422
ULTRACEMCO
1,878
1,899
1,914
1,935
1,951
WIPRO
402
407
410
415
419
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Daily Technical Report
February 13, 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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