Daily Technical Report
February 25, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19317) / NIFTY (5850)
On Friday, we witnessed another gap down opening on the
back of strong pessimism across the globe. However, the
index consolidated in a narrow range throughout the session
to close at the 5850 mark. During the day Realty and Teck
counters ended on a gaining side whereas FMCG and Auto
stocks lost sheen. The advance to decline ratio was
marginally in favor of declining counters (A=1043 D=1072)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19591 / 5932 and 19203 / 5823 levels, respectively.
The Nifty has broken down from the ‘Upward Sloping
Trend Line’ (as shown in the chart).
The weekly ‘RSI Smoothened’ and ‘3 & 8 EMA’ are
signaling a negative crossover.
Source: Falcon:
Actionable points:
Trading strategy:
View
Bearish below 5835
Despite a decent up move in the first half, eventually the
Expected target
5800 - 5777
week turned out in the favor of the bears. Indices faced
Resistance levels
5875 - 5900
tremendous selling pressure near the resistance of the '20-
day EMA' placed around 19723 / 5970. Further, a strong
fall in Thursday's session has resulted in a breakdown from
On the upside, the weekly high of 19742 / 5971 would act
the 'Upward Sloping Trend Line' drawn by joining two
as a resistance in the coming trading sessions. Only a move
significant recent swing lows of 19149 / 5823 (December
beyond this level may nullify the impact of negative technical
18, 2012) and 19381 / 5853 (February 15, 2013). In Nifty,
evidences. In this case, indices may then rally towards 19768
the prices have marginally traversed the trend line; whereas
- 19865 / 5991 - 6025 levels.
in Sensex, the prices have convincingly closed below the
The coming week is likely to trade with high volatility on
trend line level. Going forward, 19149 / 5823 may act as a
account of February month derivative expiry and
crucial support for our market. Any sustainable move below
announcement of Union Budget. Thus, we advise traders to
this level would certainly trigger immense pessimism in the
trade with strict stop losses.
market. In this scenario, indices may slide towards 18973 -
18600 / 5777 - 5650 levels.
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Daily Technical Report
February 25, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12069)
On Friday, similar to our benchmark indices Bank Nifty too
opened with a downside gap and traded in a narrow range
throughout the session. The bearish ‘Head & Shoulder’
pattern breakdown mentioned in our previous report is still
intact and the target of the said pattern is near to the 11600
level. Hence we reiterate our view that going forward, every
rise from the current level should be considered as an
opportunity to go short in Bank Nifty. The pattern will be
negated only if the index trades above the 12486 level. While
the overall view remains negative, on the downside 11978 -
11826 levels may act as intraday support. On the upside,
intraday resistance is at 12140 - 12264 levels.
Actionable points:
View
Sell on Every Rise
Expected target
11978 - 11826 - 11600
Resistance levels
12140 - 12264
Source: Falcon:
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Daily Technical Report
February 25, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,224
19,271
19,336
19,383
19,448
NIFTY
5,815
5,833
5,853
5,871
5,891
BANKNIFTY
11,962
12,016
12,078
12,131
12,193
ACC
1,288
1,295
1,301
1,308
1,314
AMBUJACEM
193
196
198
200
202
ASIANPAINT
4,445
4,491
4,522
4,568
4,599
AXISBANK
1,395
1,403
1,413
1,421
1,431
BAJAJ-AUTO
1,939
1,967
1,993
2,020
2,047
BANKBARODA
730
735
741
746
752
BHARTIARTL
291
300
306
315
321
BHEL
201
203
205
206
208
BPCL
381
385
389
393
397
CAIRN
300
303
306
309
312
CIPLA
375
378
382
385
389
COALINDIA
324
328
334
338
344
DLF
268
275
279
286
290
DRREDDY
1,776
1,796
1,810
1,831
1,845
GAIL
335
338
341
344
348
GRASIM
2,978
2,999
3,022
3,042
3,066
HCLTECH
708
714
721
727
734
HDFC
780
790
801
811
822
HDFCBANK
652
656
661
665
670
HEROMOTOCO
1,646
1,662
1,678
1,693
1,710
HINDALCO
104
106
107
108
110
HINDUNILVR
446
451
459
464
472
ICICIBANK
1,068
1,080
1,090
1,102
1,111
IDFC
153
154
156
157
159
INFY
2,773
2,807
2,831
2,865
2,889
ITC
286
289
294
297
301
JINDALSTEL
347
352
357
362
367
JPASSOCIAT
68
69
71
72
74
KOTAKBANK
651
658
664
671
677
LT
1,405
1,420
1,431
1,446
1,457
LUPIN
579
590
596
607
613
M&M
865
880
890
905
914
MARUTI
1,408
1,423
1,445
1,460
1,482
NTPC
148
150
151
153
154
ONGC
317
320
324
328
332
PNB
825
839
848
862
871
POWERGRID
106
108
109
110
111
RANBAXY
408
411
414
417
420
RELIANCE
850
856
864
870
878
RELINFRA
464
470
477
483
490
SBIN
2,168
2,182
2,204
2,218
2,239
SESAGOA
160
161
163
164
166
SIEMENS
539
543
550
554
561
SUNPHARMA
793
802
808
817
823
TATAMOTORS
286
289
293
297
301
TATAPOWER
95
96
97
99
100
TATASTEEL
357
361
364
368
372
TCS
1,432
1,444
1,454
1,465
1,476
ULTRACEMCO
1,908
1,924
1,937
1,954
1,967
WIPRO
397
407
413
422
428
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Daily Technical Report
February 25, 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
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
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