Daily Technical Report
June 19, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19223) / NIFTY (5814)
Yesterday, our benchmark indices opened marginally lower
on the back of mixed global cues. Indices then traded within
a narrow range for most part of the session. However, a
sharp fall during the final hour led indices to close in the
negative territory. The Capital Goods, Banking and
Consumer Durables counters led yesterday’s decline;
whereas the IT and Metal sectors outperformed our
benchmark indices. The advance to decline ratio was neutral
during yesterday’s session.
(A=1162 D=1164)
(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19359/ 5869 and 19500/ 5909 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
19417/ 5885 and 19128 / 5800, respectively.
The daily ‘RSI’ and ‘Stochastic’ momentum oscillators
are signaling a positive crossover.
The Monthly ‘Shooting Star’ Japanese candlestick
pattern has been activated.
Source: Falcon:
The daily chart now depicts a bullish ‘Island Reversal’
pattern.
Actionable points:
View
Bearish below 5770
Trading strategy:
Expected targets
5739 - 5701
Yesterday, we observed sudden selling pressure during the
Resistance levels
5863 - 5885
latter part of the session, which led indices to close almost at
the lowest point of the day. Also an important observation is
that yesterday’s high precisely coincides with the ’89 EMA’ in
the hourly chart. The momentum oscillators in the hourly
chart have given a negative crossover. Thus, going forward,
a sustainable move below 19084 / 5770 would trigger
immense pessimism in the market. In this scenario, indices
may correct towards 18952 - 18895 / 5739 - 5701 levels.
On the flipside, 19459 - 19417 / 5863 - 5885 would now
act as resistance in coming trading session.
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Daily Technical Report
June 19, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11821)
Yesterday, the Bank Nifty too opened marginally lower in-
line with benchmark indices and oscillated within a narrow
trading range for most part of the session. However,
strong selling pressure during the second half dragged the
index inside the negative territory. It can be seen that the
trend line joining the highs of 13016 (28th May 2013) and
12488 (7th Jun 2013) is acting as an important resistance
for the bulls. This resistance is near to 11975 at this
juncture. Going forward, a sustainable move below
yesterday’s low of 11795 would result in strong corrective
move. In this scenario, the Bank Nifty may slide towards
11735 - 11656 levels. On the flipside, 11950 - 11993
would act a resistance for the index.
Actionable points:
Source: Falcon:
View
Bearish Below 11795
Expected targets
1
11735 - 11656
Resistance Levels
11950 - 11993
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Daily Technical Report
June 19, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,074
19,149
19,266
19,341
19,458
NIFTY
5,768
5,791
5,827
5,850
5,886
BANKNIFTY
11,700
11,760
11,856
11,916
12,011
ACC
1,183
1,199
1,213
1,229
1,244
AMBUJACEM
175
177
178
181
182
ASIANPAINT
4,498
4,537
4,572
4,610
4,646
AXISBANK
1,264
1,276
1,295
1,306
1,326
BAJAJ-AUTO
1,756
1,792
1,816
1,852
1,876
BANKBARODA
603
610
622
630
642
BHARTIARTL
283
287
294
299
306
BHEL
177
179
182
183
186
BPCL
360
363
364
367
368
CAIRN
287
289
291
293
295
CIPLA
373
376
379
382
385
COALINDIA
299
301
303
305
307
DLF
183
186
190
192
196
DRREDDY
2,104
2,117
2,134
2,147
2,164
GAIL
289
292
296
298
302
GRASIM
2,746
2,764
2,790
2,808
2,834
HCLTECH
767
774
778
784
788
HDFC
822
828
837
844
853
HDFCBANK
647
652
660
665
673
HEROMOTOCO
1,606
1,622
1,636
1,652
1,666
HINDALCO
98
100
102
103
106
HINDUNILVR
591
593
596
598
600
ICICIBANK
1,077
1,084
1,092
1,099
1,106
IDFC
140
142
144
145
147
INDUSINDBK
465
471
479
485
493
INFY
2,408
2,428
2,444
2,463
2,479
ITC
326
328
330
332
334
JINDALSTEL
233
236
240
244
247
JPASSOCIAT
62
62
63
64
65
KOTAKBANK
740
751
761
773
783
LT
1,411
1,425
1,444
1,458
1,477
LUPIN
775
783
791
798
807
M&M
968
976
988
996
1,007
MARUTI
1,510
1,524
1,536
1,550
1,562
NMDC
104
106
108
110
112
NTPC
144
145
148
149
152
ONGC
302
305
309
312
316
PNB
706
716
731
741
756
POWERGRID
106
107
108
110
111
RANBAXY
331
342
354
365
377
RELIANCE
806
815
826
835
846
RELINFRA
353
358
364
369
375
SBIN
2,014
2,029
2,052
2,067
2,090
SESAGOA
137
139
142
144
146
SUNPHARMA
955
964
972
981
989
TATAMOTORS
290
294
297
300
303
TATAPOWER
79
81
83
85
87
TATASTEEL
268
276
282
291
297
TCS
1,428
1,436
1,448
1,456
1,468
ULTRACEMCO
1,834
1,850
1,879
1,895
1,924
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Daily Technical Report
June 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
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