Daily Technical Report
February 27, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19015) / NIFTY (5761)
Yesterday's trading session opened with more than half a
percent downside gap in-line with weak global cues. This
early momentum continued throughout the session and
eventually markets closed with a 2% intraday loss. During the
day, most of the sectors ended on a losing side except for IT
and Teck counters. The advance to decline ratio was in
strongly in favor of declining counters (A=774 D=2072)
(Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19591 / 5909 and 19203 / 5817 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:
Trading strategy:
Indices opened lower and gained significant momentum as
Actionable points:
the day progressed. Index heavyweights such as Reliance
Industries, ICICI Bank and Axis Bank led the sharp correction
View
Neutral
during yesterday's session. As expected, indices precisely met
Support levels
5763 - 5748
with our initial target of 18973 / 5777 and even sneaked
Resistance levels
5875 - 5900
below that level. Indices have now approached
61.8%
Fibonacci retracement level (19000 / 5763) of the rise from
18256 / 20204 to 5549 / 6112. Nevertheless, considering
strong momentum, there is high possibility testing lower
levels if indices sustain below yesterday's low of 18976 /
5748. In this scenario, indices may slide towards 18850 -
18600 / 5700 - 5650 levels. On the upside, yesterday's high
of 19294 / 5839 would act as an immediate resistance in
the coming trading sessions.
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Daily Technical Report
February 27, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11845)
Yesterday, Bank Nifty opened with a negative bias and
selling pressure throughout the day led the index to test the
11800 mark. We continue to see the Bank Nifty trade in a
strong lower top lower bottom cycle and maintain that
every rise can be used to initiate fresh short positions.
Traders holding short positions in the index can now trail
their stop losses to the 12140 level. After yesterday’s
massive fall, the Index may show some intraday relief rally
in today’s session. For the day 11940 - 12140 levels are
likely to act as resistance and 11800 - 11719 levels are
likely to act as support.
Actionable points:
View
Neutral
Resistance Levels
11940 - 12140
Support levels
11800 - 11719
Source: Falcon:
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Daily Technical Report
February 27, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,779
18,897
19,095
19,213
19,412
NIFTY
5,693
5,727
5,783
5,817
5,873
BANKNIFTY
11,696
11,770
11,883
11,957
12,070
ACC
1,280
1,289
1,301
1,310
1,321
AMBUJACEM
193
195
198
200
202
ASIANPAINT
4,294
4,347
4,423
4,476
4,552
AXISBANK
1,336
1,352
1,376
1,392
1,417
BAJAJ-AUTO
1,848
1,885
1,942
1,979
2,036
BANKBARODA
716
721
727
733
738
BHARTIARTL
284
298
317
331
350
BHEL
195
199
204
208
213
BPCL
363
370
378
384
392
CAIRN
304
305
307
309
310
CIPLA
352
357
364
369
376
COALINDIA
305
310
318
322
330
DLF
262
266
271
275
280
DRREDDY
1,728
1,749
1,778
1,799
1,829
GAIL
334
337
340
343
347
GRASIM
2,976
3,012
3,036
3,072
3,096
HCLTECH
717
722
729
734
741
HDFC
745
758
779
792
813
HDFCBANK
636
643
653
661
671
HEROMOTOCO
1,662
1,676
1,688
1,702
1,713
HINDALCO
98
100
103
105
109
HINDUNILVR
444
448
455
459
466
ICICIBANK
1,032
1,048
1,068
1,084
1,105
IDFC
149
151
153
155
158
INFY
2,895
2,927
2,948
2,981
3,002
ITC
283
287
293
297
302
JINDALSTEL
347
350
355
358
363
JPASSOCIAT
66
67
68
70
71
KOTAKBANK
652
657
661
665
669
LT
1,337
1,351
1,375
1,389
1,413
LUPIN
585
592
601
608
617
M&M
839
852
873
886
906
MARUTI
1,363
1,384
1,412
1,433
1,461
NTPC
147
149
151
153
154
ONGC
296
301
309
314
322
PNB
811
819
832
840
852
POWERGRID
109
110
111
112
113
RANBAXY
396
406
423
434
450
RELIANCE
800
812
831
843
862
RELINFRA
445
451
461
468
478
SBIN
2,174
2,186
2,201
2,213
2,228
SESAGOA
156
157
159
160
162
SIEMENS
511
519
533
541
554
SUNPHARMA
781
790
807
816
832
TATAMOTORS
280
285
290
295
301
TATAPOWER
96
97
98
98
99
TATASTEEL
341
345
353
357
364
TCS
1,454
1,475
1,487
1,509
1,521
ULTRACEMCO
1,876
1,891
1,905
1,919
1,933
WIPRO
409
412
416
420
424
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Daily Technical Report
February 27, 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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