Daily Technical Report
September 13, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18000) / NIFTY (5431)
Yesterday, our benchmark indices opened marginally higher
and consolidated till the announcement by the German
constitutional court. Post the announcement all European
markets rallied sharply and we witnessed a sharp up move in
our markets as well. On sectoral front, Metal, Auto and
Capital Goods counters contributed significantly in
yesterday’s up move; whereas Power and Health Care
sectors closed in the negative territory. The advance to
decline ratio was in favor of advancing counters (A=1575
D=1308) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
17508 / 5298 and 17254 / 5226 levels, respectively.
Looking at the “Line Chart” it is clear that indices have
now confirmed the ‘Higher Top
- Higher Bottom’
formation on the weekly chart after August 28, 2009.
The daily ‘RSI’ momentum oscillator and ‘3 & 8 EMA’
have given a positive crossover.
Source: Falcon:
The 50% Fibonacci Retracement level of the rise from
16598 to 17973 / 5032 to 5449 is at 17285 / 5240.
Actionable points:
View
Bullish above 5449
Expected Target Levels
5500 - 5550
Trading strategy:
Support Levels
5332 - 5309
Over the last 4-5 trading sessions, we are witnessing a
complete shift in trader’s sentiments across the globe.
Yesterday too indices maintained their positive bias
throughout the day and have now almost reached the first
target of 5449 mentioned in our earlier reports. Going
forward, if indices manage to sustain above 5449, then they
are likely to rally towards their next target of 5500 - 5550.
Hence, we advise traders to trade with a positive bias.
Conversely, Tuesday’s low of 17677 / 5332 level may act as
support over the next few sessions. The US Fed declares its
monetary policy tonight and that would have an effect on the
Indian markets going forward. We expect significant volatility
post the conclusion of the FOMC meet.
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Daily Technical Report
September 13, 2012
Bank Nifty Outlook - (10183)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Bank Nifty opened with an upside gap and traded
with extreme volatility throughout the session to close with a
marginal gain of 0.47%. The momentum oscillator “RSI” on
the daily chart continues to be positive. However, we are
now witnessing a “Spinning Top” candlestick pattern
indicating indecisiveness prevailing at current levels. Thus
going forward yesterday’s low of 10109 is likely to act as a
key support for the index. The mentioned pattern would be
negated if the index sustains above yesterday’s high of
10224. In this scenario the index is likely to rally towards
10275 - 10327 levels.
Actionable points:
View
Neutral
Resistance Levels
10224 - 10275 - 10327
Support Levels
10109
Source: Falcon:
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Daily Technical Report
September 13, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,838
17,919
17,966
18,047
18,094
NIFTY
5,379
5,405
5,420
5,446
5,462
BANKNIFTY
10,058
10,121
10,172
10,235
10,287
ACC
1,340
1,349
1,359
1,367
1,378
AMBUJACEM
188
190
192
194
196
ASIANPAINT
3,731
3,788
3,822
3,880
3,914
AXISBANK
930
943
955
968
979
BAJAJ-AUTO
1,662
1,678
1,700
1,716
1,738
BANKBARODA
633
638
646
651
658
BHARTIARTL
256
258
260
263
265
BHEL
191
194
198
202
206
BPCL
342
345
347
350
353
CAIRN
336
339
342
345
348
CIPLA
369
374
383
388
397
COALINDIA
362
369
373
381
385
DLF
197
200
202
205
207
DRREDDY
1,707
1,738
1,762
1,793
1,817
GAIL
358
363
369
374
380
GRASIM
2,979
2,996
3,017
3,034
3,055
HCLTECH
572
577
581
586
590
HDFC
747
752
757
762
768
HDFCBANK
592
595
598
602
604
HEROMOTOCO
1,764
1,775
1,790
1,801
1,816
HINDALCO
105
107
109
111
112
HINDUNILVR
529
535
539
545
548
ICICIBANK
932
940
950
959
968
IDFC
130
131
132
134
135
INFY
2,508
2,524
2,537
2,553
2,566
ITC
266
267
269
271
272
JINDALSTEL
310
328
339
358
368
JPASSOCIAT
66
68
69
70
71
KOTAKBANK
573
579
583
588
592
LT
1,354
1,382
1,400
1,428
1,446
M&M
753
758
763
768
773
MARUTI
1,206
1,213
1,219
1,226
1,232
NTPC
166
168
172
174
178
ONGC
275
277
279
282
284
PNB
667
676
684
693
701
POWERGRID
119
120
121
122
123
RANBAXY
555
558
563
566
571
RELIANCE
786
792
796
802
806
RELINFRA
437
444
453
460
469
SAIL
78
79
80
82
83
SBIN
1,829
1,844
1,860
1,876
1,892
SESAGOA
155
159
161
165
167
SIEMENS
664
672
679
686
694
STER
91
93
95
97
98
SUNPHARMA
670
676
686
691
701
TATAMOTORS
246
255
260
268
273
TATAPOWER
95
95
96
96
97
TATASTEEL
372
380
384
391
396
TCS
1,378
1,396
1,409
1,427
1,440
WIPRO
371
378
382
389
393
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Daily Technical Report
September 13, 2012
Research Team Tel: 022 - 39357800
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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