Daily Technical Report
March 19, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19293) / NIFTY (5835)
The opening session of the week started off on a pessimistic
note in-line with weak global cues. Subsequently, indices
traded within a narrow trading range to eventually close in
the negative territory. Most of the sectors ended in the
negative territory except for the defensive counters in the
FMCG, Consumer Durables and Health Care space. The
advance to decline ratio was strongly in favor of declining
counters (A=1091 D=1757) (Source-www.bseindia.com)
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19400 / 5865 and 19244 / 5830 levels, respectively.
Trading strategy:
After a gap down opening, indices oscillated within merely
half a percent trading range. Looking at the hourly chart, it is
Source: Falcon:
seen that indices have a strong resistance of '20-EMA' and
'89-EMA' placed around 19396 / 5861 - 19366 / 5860
levels respectively. Only a move beyond these resistance
Actionable points:
levels may attract intraday buyers in the market. In this
scenario, indices may bounce towards 19492 - 19526 /
5895 - 5910. On the flipside, Yesterdays low of 19232 /
View
Bearish Below 5814
5814 poses as a key support level in the coming trading
Expected target
5790 - 5750
sessions. Any sustainable move below this level would trigger
Resistance levels
5860 - 5893
immense pessimism in the market and indices may re-test
recent swing lows of 18931 - 18760 / 5712 - 5663. The
coming trading session is likely to trade with high volatility on
account of 'RBI Monetary' policy. Any decisive outcome from
the event may dictate the near term direction for our market.
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Daily Technical Report
March 19, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11736)
Yesterday, Bank Nifty opened with a downside gap in line
with our benchmark indices and traded in a narrow range
throughout the session. We had mentioned in our previous
report that the momentum oscillators on the daily and
hourly chart are near the 50 mark and hence volatility is
set to rise. As there is no major change in the chart
structure we reiterate our view that volatility is set to rise in
the coming session as well. Traders are advised to stay
light on their positions on account of RBI monetary policy.
On the downside 11625 - 11555 levels are likely to act as
support whereas 11850 - 12059 levels are likely to act as
resistance for the day.
Actionable points:
View
Neutral
Resistance Levels
11850 - 12059
Support Levels
11625 - 11555
Source: Falcon:
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Daily Technical Report
March 19, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,177
19,235
19,290
19,348
19,403
NIFTY
5,797
5,816
5,833
5,852
5,869
BANKNIFTY
11,539
11,637
11,724
11,822
11,909
ACC
1,194
1,210
1,235
1,251
1,276
AMBUJACEM
177
179
184
186
190
ASIANPAINT
4,908
4,955
4,993
5,040
5,078
AXISBANK
1,283
1,304
1,320
1,341
1,358
BAJAJ-AUTO
1,768
1,790
1,826
1,848
1,885
BANKBARODA
706
712
718
725
731
BHARTIARTL
297
302
306
312
316
BHEL
193
195
196
197
199
BPCL
385
389
392
396
399
CAIRN
287
292
295
300
303
CIPLA
376
384
388
396
400
COALINDIA
295
298
304
308
313
DLF
264
267
269
272
275
DRREDDY
1,767
1,785
1,804
1,822
1,841
GAIL
307
310
316
319
325
GRASIM
2,890
2,919
2,954
2,983
3,018
HCLTECH
778
790
798
810
817
HDFC
801
805
811
815
821
HDFCBANK
618
631
642
655
666
HEROMOTOCO
1,660
1,675
1,685
1,700
1,710
HINDALCO
92
94
95
96
98
HINDUNILVR
450
457
462
468
473
ICICIBANK
1,027
1,039
1,048
1,060
1,068
IDFC
149
150
153
155
158
INFY
2,828
2,845
2,867
2,884
2,906
ITC
299
301
303
306
308
JINDALSTEL
346
350
354
358
362
JPASSOCIAT
72
73
74
75
76
KOTAKBANK
642
648
657
663
672
LT
1,460
1,485
1,503
1,529
1,547
LUPIN
596
605
613
622
630
M&M
899
906
916
924
934
MARUTI
1,332
1,347
1,370
1,385
1,408
NTPC
143
145
145
147
147
ONGC
311
314
318
321
324
PNB
776
785
795
804
813
POWERGRID
108
109
109
109
109
RANBAXY
424
429
434
439
444
RELIANCE
824
829
836
842
849
RELINFRA
407
409
413
416
419
SBIN
2,222
2,236
2,247
2,262
2,273
SESAGOA
159
160
162
164
165
SIEMENS
554
569
579
593
603
SUNPHARMA
820
826
834
840
848
TATAMOTORS
282
285
287
290
292
TATAPOWER
96
97
99
100
102
TATASTEEL
344
346
349
352
355
TCS
1,546
1,556
1,565
1,576
1,584
ULTRACEMCO
1,874
1,889
1,913
1,928
1,952
WIPRO
427
430
436
439
444
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Daily Technical Report
March 19, 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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