Daily Technical Report
September 26, 2012
Exhibit 1: Nifty Daily Chart
Sensex (18694) / NIFTY (5674)
In line with the previous session, yesterday too our
benchmark indices traded in a narrow range to close on a
flat note. While action was muted in the large caps, the mid
and small cap stocks were significantly active in yesterday’s
trade. On the sectoral front, the Realty once again headed
the gainers list followed by the FMCG and Consumer
Durables; whereas the Metal and Auto counters remained
under pressure throughout the day. The advance to decline
ratio was in favor of advancing counters (A=1552 D=1326)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
18000 / 5450 and 17500 / 5300 levels, respectively.
The weekly chart depicts an “Upward Sloping Trend
Line” breakout above 17973 / 5449 levels.
The daily ‘RSI’ momentum oscillator on weekly chart is
still showing strength.
The continuous rise in the daily ADX (14) indicator
signals strength in the coming sessions. The ADX line
Source: Falcon:
has moved up from the 21 level (previous week’s Friday)
to 30 (this Friday). The ADX line moving above the 30
Actionable points:
mark along with rising + DI is interpreted as a strong
trend.
View
Neutral
Trading strategy:
Resistance Levels
5720 - 5741
As expected, yesterday, we witnessed a very range bound
Support Levels
5650 - 5620
and lackluster session. Once again indices found decent
support near the '20-EMA' on hourly chart and eventually
closed above that. Since, today is the second last day of the
September series derivatives contract; we may witness some
volatility in our market. All the levels remain unchanged as
mentioned in our earlier report. The resistance remains at
19132 / 5741 level and support is at 18636 / 5650. A
breakout on either side would dictate the trend for the
session.
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Daily Technical Report
September 26, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11421)
Yesterday, in line with our benchmark indices, Bank Nifty
also continued to consolidate for the second consecutive
session. The index traded in a range to close on a flat note
near its previous closing. There are no major changes in the
price pattern and the momentum oscillators on the daily
chart continue to be placed in overbought zone coupled with
negative divergence in “RSI” momentum oscillator on the
hourly chart. Hence we reiterate our view that if the index
manages to sustain below yesterday’s low of 11321 then it is
likely to drift towards 11216 - 11060 levels. On the upside a
move beyond the high of the "Shooting star" (11534) will
negate the bearish implication of the said pattern.
Actionable points:
View
Bearish Below 11321
Expected Targets
11216 - 11060
Resistance Levels
11534
Source: Falcon:
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Daily Technical Report
September 26, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,553
18,624
18,707
18,778
18,861
NIFTY
5,626
5,650
5,676
5,700
5,727
BANKNIFTY
11,223
11,322
11,420
11,519
11,616
ACC
1,359
1,368
1,374
1,383
1,390
AMBUJACEM
190
193
195
197
199
ASIANPAINT
3,859
3,898
3,959
3,998
4,059
AXISBANK
1,044
1,073
1,117
1,146
1,190
BAJAJ-AUTO
1,750
1,769
1,799
1,818
1,848
BANKBARODA
751
765
779
793
807
BHARTIARTL
270
273
276
279
283
BHEL
237
246
251
259
264
BPCL
341
345
348
352
355
CAIRN
315
324
333
342
351
CIPLA
351
357
361
367
372
COALINDIA
361
365
369
373
377
DLF
226
231
236
240
245
DRREDDY
1,634
1,645
1,660
1,670
1,685
GAIL
379
382
385
387
390
GRASIM
3,171
3,211
3,244
3,284
3,317
HCLTECH
539
552
562
576
586
HDFC
749
759
767
777
786
HDFCBANK
621
629
634
642
647
HEROMOTOCO
1,847
1,869
1,903
1,925
1,958
HINDALCO
116
118
119
121
123
HINDUNILVR
505
517
523
535
542
ICICIBANK
1,053
1,060
1,071
1,077
1,088
IDFC
152
156
159
163
166
INFY
2,576
2,587
2,599
2,610
2,622
ITC
252
257
259
263
266
JINDALSTEL
407
416
431
440
455
JPASSOCIAT
79
81
84
85
88
KOTAKBANK
616
629
636
649
657
LT
1,549
1,562
1,582
1,594
1,614
M&M
822
834
843
855
865
MARUTI
1,284
1,303
1,336
1,354
1,387
NTPC
161
163
166
168
171
ONGC
278
281
285
288
293
PNB
789
806
826
843
862
POWERGRID
114
116
117
119
121
RANBAXY
511
521
527
537
543
RELIANCE
824
832
838
846
853
RELINFRA
533
546
558
571
583
SAIL
87
89
90
91
93
SBIN
2,132
2,164
2,205
2,237
2,278
SESAGOA
172
175
179
182
187
SIEMENS
682
690
705
714
729
STER
98
100
102
104
107
SUNPHARMA
660
668
677
685
694
TATAMOTORS
261
265
270
274
280
TATAPOWER
100
102
104
106
108
TATASTEEL
390
395
402
407
414
TCS
1,268
1,280
1,295
1,308
1,323
WIPRO
371
374
379
382
386
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Daily Technical Report
September 26, 2012
Research Team Tel: 022 - 39357800
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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