Daily Technical Report
April 25, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19179) / NIFTY (5837)
On Tuesday, our benchmark indices opened marginally
higher in-line with mixed global cues but faced tremendous
selling pressure for most part of the session. A sharp short
covering rally towards the fag end led indices to end the
session with very nominal gain. During the day, Capital
Goods, Consumer Durables and Realty counters were
among the major losers; whereas Health Care, IT and Oil &
Gas sectors ended with marginal gains. The advance to
decline ratio was in favor of declining counters (A=1134
D=1227)
(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19028 / 5764 and 18805 / 5694 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
19050 / 5767 and 18691 / 5667, respectively.
The ‘Lower Top - Lower Bottom’ formation on the weekly
Source: Falcon:
chart is still intact.
The weekly momentum oscillators and daily ‘5 & 20
EMA’ have signaled a positive crossover.
The 61.8% Fibonacci retracement level of the fall from
20204 / 6112 to 18144 / 5477 is placed at 19416 /
5870.
Actionable points:
Trading strategy:
View
Neutral
In our previous report, we had mentioned that indices are
Resistance levels
5850 - 5870
hovering around 19416 / 5870, which is the
61.80%
Support level
5789
Fibonacci retracement level of the fall from 20204 / 6112 to
18144 / 5477. Hence, a minor correction / consolidation
was expected. The price action seen in the previous session
On the flipside, positive placement of weekly oscillators and
has resulted in formation of 'Hanging Man' Japanese
'3 & 8 EMA' are still intact. The impact of these evidences
candlestick pattern. The said pattern has a bearish
would be seen once indices sustain above 19416 / 5870. In
implication when seen at the resistance level but needs
this scenario, indices may test 19755 / 5971.
confirmation in the form of closing below the low of the
candle which is 19042 / 5791. In this scenario we may see
Traders are advised to trade with caution in the coming
some further correction and indices may fall towards the
session as the markets are likely to trade with higher volatility
support levels of 18950 - 18870 / 5765 - 5732.
on account of April month derivative expiry.
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Daily Technical Report
April 25, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12543)
On Tuesday, Bank Nifty too opened marginally higher in-line
with the benchmark indices but traded with a negative bias
for most part of the session. Considering oversold position of
hourly momentum oscillators, we had mentioned the
possibility of a minor intraday correction or sideways
movement in the index. The daily chart of Bank Nifty too
depicts a 'Hanging Man' pattern. Hence, the index may
experience further weakness if it stays below Tuesday’s low of
12333. In this case, index may slide lower to test 12242 /
12112 levels. Conversely, a sustainable move beyond
Tuesday’s high of
12606 would negate the bearish
implications of the candlestick pattern and may push the
Bank Nifty higher to test 12724 / 12780 levels.
Actionable points:
View
Neutral
Resistance level
12606 - 12724
Support Levels
12242 - 12112
Source: Falcon:
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Daily Technical Report
April 25, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,976
19,078
19,144
19,246
19,312
NIFTY
5,772
5,804
5,824
5,857
5,877
BANKNIFTY
12,221
12,382
12,494
12,655
12,767
ACC
1,194
1,205
1,214
1,225
1,234
AMBUJACEM
182
184
186
188
189
ASIANPAINT
4,574
4,612
4,653
4,691
4,733
AXISBANK
1,396
1,420
1,438
1,462
1,480
BAJAJ-AUTO
1,732
1,769
1,792
1,828
1,851
BANKBARODA
663
678
690
705
717
BHARTIARTL
290
295
301
306
312
BHEL
183
186
189
192
196
BPCL
401
407
411
417
421
CAIRN
283
286
290
293
296
CIPLA
390
393
395
398
401
COALINDIA
304
308
312
317
321
DLF
240
244
248
252
257
DRREDDY
1,869
1,885
1,901
1,918
1,934
GAIL
322
326
332
336
342
GRASIM
2,772
2,821
2,853
2,902
2,934
HCLTECH
714
723
731
739
747
HDFC
814
826
836
847
857
HDFCBANK
668
679
689
700
710
HEROMOTOCO
1,502
1,538
1,559
1,594
1,615
HINDALCO
94
95
96
98
99
HINDUNILVR
470
475
482
487
494
ICICIBANK
1,110
1,136
1,150
1,176
1,191
IDFC
152
154
157
159
161
INDUSINDBK
443
452
460
469
477
INFY
2,233
2,248
2,259
2,274
2,285
ITC
313
315
317
319
321
JINDALSTEL
314
322
335
343
356
JPASSOCIAT
75
77
79
80
82
KOTAKBANK
661
676
686
702
712
LT
1,465
1,485
1,509
1,529
1,553
LUPIN
670
675
680
685
690
M&M
866
876
887
897
908
MARUTI
1,503
1,520
1,532
1,549
1,561
NMDC
127
128
129
130
131
NTPC
147
148
149
150
151
ONGC
315
321
326
332
338
PNB
753
766
776
789
798
POWERGRID
108
109
109
110
111
RANBAXY
445
452
458
465
471
RELIANCE
779
791
799
811
818
RELINFRA
365
372
380
387
395
SBIN
2,222
2,255
2,299
2,332
2,376
SESAGOA
147
149
153
155
158
SUNPHARMA
913
932
943
961
972
TATAMOTORS
274
278
281
285
289
TATAPOWER
93
94
95
96
96
TATASTEEL
303
306
309
312
315
TCS
1,410
1,420
1,434
1,444
1,458
ULTRACEMCO
1,842
1,854
1,867
1,879
1,892
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Daily Technical Report
April 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
Ankur Lakhotia
-
Technical Analyst
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