Daily Technical Report
January 15, 2013
Sensex (19906) / NIFTY (6024)
Exhibit 1: Nifty Daily Chart
The week started on a slightly positive note in-line with mixed
global cues. During the day, positive momentum on the back
of Inflation data and the Finance Minister’s decision to defer
the implementation of ‘General Anti-Avoidance Rules (GAAR)
led the index to close at the highest point of the session.
Undoubtedly yesterday’s rally was led by the Realty and IT
counters; whereas the Auto sector remained marginally
under pressure. The advance to decline ratio was strongly in
favor of advancing counters (A=1305 D=790) (Source -
www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19562 / 5942 and 18937 / 5749 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’ is negatively poised.
Source: Falcon:
We are also observing a ‘Negative Divergence’ in the
daily ‘RSI’ momentum oscillator.
Actionable points:
View
Neutral
Trading strategy:
Resistance Levels
6042 - 6070
The first day of the week was dominated by the bulls mainly
Support Levels
5978 - 5940
on the back of few domestic events. In the process, the
Sensex has closed above previous week’s high of 19857; but
the Nifty is yet to cross 6042 level. Hence, going forward, a
sustainable move above
19949 /
6042 may result in
extended move towards 19950 - 20100 / 6070 - 6125
levels. As mentioned in our earlier reports, we reiterate that
traders should consider reducing long positions and partial
profit booking in individual large cap counters near to the
19950 - 20100 / 6070 - 6125 . On the flipside, last week’s
low of 19596 / 5940 would now act as a key support in
coming trading session.
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Daily Technical Report
January 15, 2013
Bank Nifty Outlook - (12759)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Bank Nifty opened on a flat note and gained
strength as the day progressed to close near day’s high. We
had mentioned in our previous report that the momentum
oscillators on the hourly chart are placed in extreme oversold
zone and a bounce in the index cannot be ruled out. We
reiterate our view that the index is likely to tade in the range
of 12838 to 12442 and only a breakout or breakdown from
the mentioned range will dictate the direction of the short
term trend. A sustainable move above 12838 will enhance
buying among market participants which would lead to a
further rally towards
12902
-
12990 levels. On the
downside 12672 - 12644 levels are likely to act as support
in coming trading session.
Actionable points:
View
Neutral
Resistance levels
12838
Support Levels
12672 - 12644
Source: Falcon:
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Daily Technical Report
January 15, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,589
19,747
19,848
20,007
20,108
NIFTY
5,933
5,979
6,008
6,053
6,082
BANKNIFTY
12,551
12,655
12,714
12,818
12,877
ACC
1,322
1,341
1,356
1,375
1,390
AMBUJACEM
182
186
189
193
195
ASIANPAINT
4,263
4,314
4,347
4,398
4,430
AXISBANK
1,350
1,368
1,380
1,397
1,409
BAJAJ-AUTO
2,048
2,071
2,107
2,130
2,166
BANKBARODA
855
867
875
887
895
BHARTIARTL
321
325
327
331
334
BHEL
224
227
229
231
233
BPCL
364
369
372
377
381
CAIRN
328
332
337
340
345
CIPLA
410
413
418
421
425
COALINDIA
355
357
360
362
364
DLF
224
235
242
254
261
DRREDDY
1,892
1,902
1,911
1,921
1,930
GAIL
361
366
369
375
378
GRASIM
2,977
3,020
3,043
3,085
3,109
HCLTECH
638
655
666
683
693
HDFC
793
810
822
839
852
HDFCBANK
666
667
669
671
672
HEROMOTOCO
1,805
1,824
1,839
1,858
1,873
HINDALCO
124
126
127
130
131
HINDUNILVR
486
495
502
512
518
ICICIBANK
1,154
1,169
1,181
1,196
1,208
IDFC
170
173
175
178
180
INFY
2,714
2,760
2,799
2,845
2,883
ITC
272
275
277
280
282
JINDALSTEL
414
430
440
456
466
JPASSOCIAT
90
93
94
97
99
KOTAKBANK
618
623
628
633
638
LT
1,520
1,537
1,548
1,565
1,576
LUPIN
568
574
582
587
595
M&M
921
928
938
945
956
MARUTI
1,502
1,521
1,549
1,568
1,596
NTPC
152
153
154
155
155
ONGC
283
294
301
312
318
PNB
859
882
896
919
932
POWERGRID
110
111
113
114
115
RANBAXY
487
491
496
500
505
RELIANCE
833
840
847
854
861
RELINFRA
527
543
551
567
576
SBIN
2,454
2,477
2,498
2,521
2,543
SESAGOA
191
194
196
199
200
SIEMENS
654
659
663
669
673
SUNPHARMA
727
731
736
740
744
TATAMOTORS
323
325
329
331
335
TATAPOWER
105
106
107
107
108
TATASTEEL
409
417
421
428
432
TCS
1,289
1,312
1,330
1,353
1,371
ULTRACEMCO
1,827
1,847
1,866
1,885
1,905
WIPRO
413
416
420
424
428
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Daily Technical Report
January 15, 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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