Daily Technical Report
March 13, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19565) / NIFTY (5914)
Yesterday, indices opened on a muted note considering quiet
mood across the globe. During the initial hour, indices
moved higher but failed to cross Monday's high. Post the
announcement of IIP data indices trimmed their early gains
and eventually closed well inside the negative territory.
During the day, FMCG and Auto counters ended with
marginal gains whereas Consumer Durables, power and
Realty sector closed in the negative territory. The advance to
decline ratio was in favor of declining counters (A=1205
D=1688) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19430 / 5880 and 19224 / 5826 levels, respectively.
The weekly chart exhibits a ‘Bullish Engulfing’ pattern but
the monthly chart exhibits a ‘Bearish Engulfing’ pattern.
The daily ‘ADX
(14)’ indicator and the weekly
‘Stochastic’ momentum oscillator is now signaling a
Source: Falcon:
positive crossover.
The level of the weekly ‘RSI’ momentum oscillator has
now bounced back sharply to 58.20 after dropping
below the 50 mark.
Actionable points:
Indices have closed above the ‘Downward Sloping Trend
View
Bearish below 5893
Line’, drawn by joining two significant highs of 21109 /
6339 (high of November 05, 2010 weekly candle) and
Expected target
5880 - 5837
19137 / 5816 (high of October 05, 2012 weekly
Resistance levels
5952 - 5971
candle).
Trading strategy:
Initially indices moved marginally higher; but strong selling
pressure near day’s high pulled indices lower to break
Monday's low of 19603 / 5930. This resulted in confirmation
of bearish implication of narrow range body formation
mentioned in our earlier report. As expected, we witnessed a
corrective move to test 19498 / 5900. Going forward, we
are of the opinion that if indices sustain below yesterday's
low of 19505 / 5893, then we may witness continuation of
corrective move seen during yesterday's session. In this
scenario, indices may slide towards 19430 - 19322 / 5880 -
5837 levels. On the upside, 19754 / 5971 level is likely to
act as an important resistance for the day.
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Daily Technical Report
March 13, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12055)
Yesterday, Bank Nifty opened on a flat note and traded
with extreme volatility throughout the session to close with
a loss of nearly 1%. However this has not resulted in a
major change in the chart structure of the index and thus
we reiterate our view that the index is likely to consolidate
in the coming sessions. The momentum oscillators on the
daily and hourly chart are painting a mixed picture and
hence volatility is likely to continue. On the upside 12184
- 12241 levels are likely to act as resistance and 11971 -
11912 levels are likely to act as support for the day.
Actionable points:
View
Neutral
Resistance levels
12184 - 12241
Support Levels
11971 - 11912
Source: Falcon:
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Daily Technical Report
March 13, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,397
19,481
19,589
19,673
19,782
NIFTY
5,862
5,888
5,920
5,946
5,978
BANKNIFTY
11,857
11,956
12,070
12,168
12,282
ACC
1,247
1,266
1,284
1,303
1,321
AMBUJACEM
186
188
190
192
194
ASIANPAINT
4,702
4,727
4,749
4,774
4,795
AXISBANK
1,364
1,375
1,388
1,398
1,412
BAJAJ-AUTO
1,907
1,931
1,960
1,984
2,013
BANKBARODA
726
733
740
747
753
BHARTIARTL
309
312
316
319
324
BHEL
197
199
202
205
208
BPCL
388
393
399
403
409
CAIRN
288
293
301
306
314
CIPLA
380
384
390
393
399
COALINDIA
311
315
319
323
328
DLF
277
280
285
288
293
DRREDDY
1,799
1,808
1,818
1,827
1,838
GAIL
341
344
347
349
352
GRASIM
2,994
3,014
3,037
3,057
3,079
HCLTECH
759
766
774
781
789
HDFC
808
816
827
835
847
HDFCBANK
631
638
647
653
662
HEROMOTOCO
1,649
1,663
1,687
1,701
1,725
HINDALCO
97
98
100
101
103
HINDUNILVR
435
440
444
449
453
ICICIBANK
1,103
1,113
1,125
1,136
1,148
IDFC
151
154
157
160
163
INFY
2,892
2,905
2,925
2,938
2,958
ITC
293
296
298
301
303
JINDALSTEL
353
359
364
370
375
JPASSOCIAT
75
76
77
78
79
KOTAKBANK
659
663
669
674
680
LT
1,469
1,485
1,503
1,519
1,537
LUPIN
592
596
600
604
608
M&M
904
910
920
927
937
MARUTI
1,388
1,402
1,416
1,431
1,445
NTPC
145
146
149
150
152
ONGC
318
322
325
328
332
PNB
791
798
809
816
827
POWERGRID
107
108
109
111
112
RANBAXY
404
411
415
422
426
RELIANCE
838
843
849
854
860
RELINFRA
415
420
427
432
438
SBIN
2,161
2,184
2,206
2,229
2,251
SESAGOA
159
161
164
167
170
SIEMENS
538
545
554
561
570
SUNPHARMA
811
819
829
838
848
TATAMOTORS
298
301
305
308
311
TATAPOWER
96
97
99
100
103
TATASTEEL
347
352
357
361
366
TCS
1,539
1,550
1,559
1,570
1,579
ULTRACEMCO
1,860
1,882
1,901
1,924
1,943
WIPRO
429
434
439
443
448
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Daily Technical Report
March 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
Ankur Lakhotia
-
Technical Analyst
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