Daily Technical Report
January 14, 2013
Sensex (19664) / NIFTY (5951)
Exhibit 1: Nifty Daily Chart
On Friday, our benchmark indices opened higher since the
IT giant Infosys delivered stellar results. However, a
whopping intraday rally in excess of 15% in Infosys could not
stop the bears to push indices lower and eventually indices
closed marginally above 5950 mark. During the session, IT
(9.34%) and Teck (6.57%) sectors were the major gainers;
whereas FMCG, Realty and PSU counters ended with heavy
losses. The advance to decline ratio was strongly in favor of
declining counters (A=982 D=1964) (Source
-
www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19526 / 5933 and 18835 / 5720 levels, respectively.
On the daily chart, the benchmark indices are facing
resistance near the ‘Upward Sloping Trend Line’ drawn
by joining the highs of October 5, 2012 and December
11, 2012.
The daily ‘RSI - Smoothened’ and ‘3 & 8 EMA’ are
negatively poised.
Source: Falcon:
We are also observing a ‘Negative Divergence’ in the
Actionable points:
daily ‘RSI’ momentum oscillator.
View
Neutral
Trading strategy:
Resistance Levels
5992 - 6020
Support Levels
5935 - 5897
Last week’s strong closing is followed by a muted week.
Despite positive opening on most of the trading sessions,
In this scenario, indices may resume to their larger degree
indices traded with negative bias and corrected gradually
bullish trend and we may then expect an extended up move
during the week. At present, we are observing that indices
towards 19950 - 20100 / 6070 - 6125. However, we
are now approaching ’20-Day EMA’, which is considered as
reiterate that traders should consider reducing long positions
a decent support level. However, negative placement of ‘RSI-
and partial profit booking in individual large cap counters
Smoothened’ and ‘3 & 8 EMA’ on the daily chart amidst a
near to the 19950 - 20100 / 6070 - 6125 mark on the
corrective chart structure in many index heavyweights
benchmark indices.
indicates at a possibility of a near term correction in the
market. In addition, ‘Negative Divergence’ in the daily ‘RSI’
momentum oscillator is still intact. Hence, in the coming
week, if our benchmark indices manage to sustain below the
’20-day EMA’, then we can expect a corrective move towards
their next support levels of 19406 - 19221 / 5897 - 5842.
Conversely, a sustainable move beyond this week’s high of
19857 / 6042 would certainly nullify all possibilities of a
short term correction.
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Daily Technical Report
January 14, 2013
Bank Nifty Outlook - (12618)
Exhibit 2: Bank Nifty Daily Chart
On Friday, Bank Nifty opened near the important resistance
level of 12838 but selling pressure throughout the day led
the index to close near day’s low. The momentum oscillators
on the hourly chart are placed in extreme oversold zone and
a bounce back or further consolidation in the index cannot
be ruled out. On the daily chart there is no significant pattern
and the index continues to consolidate in a trading range of
12838 - 12442. Within the mentioned range 12555 -
12507 are likely to act as support and 12740 - 12805 are
likely to act as resistance levels.
Actionable points:
View
Neutral
Resistance Levels
12740 - 12805
Support Levels
12555 - 12507
Source: Falcon:
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Daily Technical Report
January 14, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,488
19,576
19,708
19,796
19,928
NIFTY
5,892
5,922
5,970
6,000
6,049
BANKNIFTY
12,426
12,522
12,678
12,774
12,930
ACC
1,334
1,348
1,368
1,382
1,402
AMBUJACEM
180
183
188
191
196
ASIANPAINT
4,221
4,260
4,324
4,364
4,428
AXISBANK
1,347
1,356
1,365
1,373
1,383
BAJAJ-AUTO
2,080
2,099
2,124
2,144
2,169
BANKBARODA
857
865
876
883
894
BHARTIARTL
320
322
327
330
334
BHEL
222
224
229
231
236
BPCL
360
365
374
379
388
CAIRN
332
335
340
343
347
CIPLA
415
418
423
427
432
COALINDIA
352
357
363
367
374
DLF
226
228
232
234
237
DRREDDY
1,864
1,882
1,899
1,916
1,933
GAIL
356
360
366
370
375
GRASIM
2,941
2,989
3,059
3,107
3,177
HCLTECH
634
639
648
654
663
HDFC
792
801
816
824
839
HDFCBANK
661
665
671
675
681
HEROMOTOCO
1,806
1,823
1,840
1,857
1,874
HINDALCO
124
125
128
130
132
HINDUNILVR
481
489
504
512
527
ICICIBANK
1,144
1,154
1,169
1,179
1,194
IDFC
168
171
176
178
183
INFY
2,451
2,581
2,652
2,782
2,853
ITC
267
270
275
279
284
JINDALSTEL
418
425
437
445
457
JPASSOCIAT
90
92
94
96
99
KOTAKBANK
609
619
639
649
669
LT
1,511
1,522
1,535
1,546
1,560
LUPIN
581
584
588
591
595
M&M
909
924
944
959
979
MARUTI
1,537
1,551
1,572
1,586
1,607
NTPC
151
152
153
154
156
ONGC
284
288
295
300
307
PNB
868
874
884
890
900
POWERGRID
112
113
113
114
115
RANBAXY
489
494
502
506
515
RELIANCE
826
833
843
850
860
RELINFRA
531
540
553
562
575
SBIN
2,441
2,466
2,508
2,533
2,575
SESAGOA
190
192
195
197
200
SIEMENS
640
649
663
671
686
SUNPHARMA
723
731
743
752
764
TATAMOTORS
322
326
331
335
340
TATAPOWER
105
106
107
108
110
TATASTEEL
410
414
419
423
428
TCS
1,274
1,290
1,306
1,323
1,339
ULTRACEMCO
1,840
1,862
1,881
1,903
1,923
WIPRO
398
409
416
427
434
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Daily Technical Report
January 14, 2013
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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