Daily Technical Report
May 16, 2013
Exhibit 1: Nifty Daily Chart
Sensex (20213) / NIFTY (6147)
Yesterday, our benchmark indices opened slightly higher as
suggested by the SGX Nifty. Bulls then built up on these early
gains and momentum accelerated as the day progressed.
Eventually, indices ended the session almost at the highest
point of the day. For the day all the sectors ended with gains
amongst which Realty, Banking and Capital Goods stocks
were among the major gainers. The advance to decline ratio
was strongly in favor of advancing counters. (A=1466 D =
973)(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19236/ 5846 and 19541/ 5952 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
Source: Falcon:
19212/ 5836 and 18846 / 5724, respectively.
Trading strategy:
Actionable points:
After a range bound session on Tuesday, indices started
yesterday's session on a positive note. Right from the first
trade, indices kept moving higher on the back of tremendous
View
Bullish above 6157
buying interest. This has eventually resulted in a breakout
Expected targets
6200 - 6280
and closing well above the 'Horizontal Line' (as shown in the
Support Levels
6116 - 6060
chart). Indices have now registered a new '52 week high' on
closing basis. Considering current strong optimism, we
expect our market to move higher towards 20438 - 20700 /
6200 - 6280 levels. On the flipside, 20096 - 19938 / 6116
-
6060 would provide decent intraday support for our
market. Considering the daily chart, we are of the opinion
that Tuesday's low of 19652 / 5970 (also coincides with
hourly '89 EMA') has now become a strong near term base
for our market. Hence, only a violation of this level would
result in loss of near term optimism.
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Daily Technical Report
May 16, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (13078)
Yesterday, Bank Nifty opened on an optimistic note and
gained strength as the day progressed to close with a gain
of 3.93%. In this process the index registered a new ’52 -
Week’ high in line with our benchmark indices. The indices
are now a blink away from its life time high of 13300
which should act as a minor resistance in coming trading
sessions. Some consolidation near these levels is likely and
thus we advise traders to book partial profits in their long
positions and wait for a dip to create fresh longs. For the
day 13300 levels are likely to act as resistance and 12961
- 12876 levels are likely to act as support.
Actionable points:
View
Neutral
Resistance Levels
13300
Support Levels
12961 - 12876
Source: Falcon:
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Daily Technical Report
May 16, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,641
19,927
20,084
20,371
20,528
NIFTY
5,969
6,058
6,108
6,196
6,246
BANKNIFTY
12,488
12,783
12,941
13,236
13,394
ACC
1,195
1,212
1,224
1,241
1,252
AMBUJACEM
184
185
186
188
189
ASIANPAINT
4,713
4,769
4,808
4,864
4,903
AXISBANK
1,450
1,479
1,497
1,526
1,544
BAJAJ-AUTO
1,759
1,791
1,815
1,846
1,870
BANKBARODA
692
710
720
738
748
BHARTIARTL
312
317
321
326
330
BHEL
188
190
191
192
193
BPCL
406
411
415
420
424
CAIRN
291
293
297
299
302
CIPLA
392
402
407
417
423
COALINDIA
293
297
299
303
305
DLF
228
235
239
246
251
DRREDDY
2,018
2,042
2,058
2,082
2,098
GAIL
335
338
340
343
345
GRASIM
2,979
3,006
3,038
3,065
3,097
HCLTECH
731
738
747
754
763
HDFC
859
885
900
926
941
HDFCBANK
683
699
707
723
732
HEROMOTOCO
1,671
1,687
1,702
1,718
1,733
HINDALCO
105
107
108
110
111
HINDUNILVR
582
584
586
588
590
ICICIBANK
1,134
1,163
1,181
1,209
1,227
IDFC
149
154
156
161
163
INDUSINDBK
483
499
508
523
532
INFY
2,335
2,348
2,360
2,373
2,385
ITC
333
338
341
346
349
JINDALSTEL
299
306
311
317
322
JPASSOCIAT
73
74
75
77
78
KOTAKBANK
712
740
755
783
798
LT
1,506
1,543
1,564
1,601
1,621
LUPIN
744
763
774
793
804
M&M
933
958
976
1,001
1,018
MARUTI
1,690
1,715
1,736
1,761
1,782
NMDC
125
127
128
130
131
NTPC
153
155
156
159
160
ONGC
323
329
333
339
342
PNB
748
785
806
843
863
POWERGRID
112
113
114
115
117
RANBAXY
438
452
459
472
480
RELIANCE
795
807
814
826
833
RELINFRA
385
397
403
415
421
SBIN
2,273
2,328
2,360
2,415
2,448
SESAGOA
157
161
163
166
168
SUNPHARMA
951
962
969
981
988
TATAMOTORS
298
303
308
313
317
TATAPOWER
93
93
94
95
95
TATASTEEL
303
306
308
310
313
TCS
1,439
1,455
1,466
1,483
1,493
ULTRACEMCO
1,943
1,958
1,973
1,988
2,003
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Daily Technical Report
May 16, 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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