Daily Technical Report
April 30, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19388) / NIFTY (5904)
The week began on a flat note considering quiet mood
across the globe and slipped into a consolidation mode for
most part of the session. A decent up move towards the final
hour led indices to close with almost half a percent gain. For
the session most of the sectors ended in the green, amongst
which Consumer Durables, FMCG and Realty counters were
among the major gainers, whereas Metal and Health Care
sectors ended with marginal loses. The advance to decline
ratio was in favor of advancing counters (A=1289 D=1070)
(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’20-day EMA’ are placed at
19071/ 5780 and 18949/ 5747 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
19063/ 5773 and 18710 / 5673, respectively.
The ‘Lower Top - Lower Bottom’ formation on the weekly
chart is still intact.
Source: Falcon:
The weekly momentum oscillators, ADX (9) indicator and
‘3 & 8 EMA’ are signaling a positive crossover.
The 61.8% and 78.6% Fibonacci retracement levels of
the fall from 20204 / 6112 to 18144 / 5477 are placed
at 19416 / 5870 and 19765 / 5976.
Actionable points:
Trading strategy:
For the second consecutive session, our benchmark indices
View
Bearish Below 5853
oscillated within the price range of Thursday’s session. Since,
Expected Target
5820 - 5791
there is no major change in the price structure, we reiterate
Resistance Levels
5900 - 5925
our view that any sustainable move below 19192 / 5853
(low on Thursday’s session) would result in a near term loss
of optimism. In this scenario, indices may correct towards
18941 / 5760 and 18790 / 5710, which are 38.20% and
50% Fibonacci retracement levels of the rise from 18144 /
5495 to 19435 / 5925, respectively. On the higher side, a
move beyond last week’s high of 19435 / 5925 would in
turn push the indices towards the
78.60% Fibonacci
retracement level placed at 19762 / 5976.
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Daily Technical Report
April 30, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (12609)
Yesterday, Bank Nifty too opened on a flat note and traded
in a narrow range during major part of the session.
However, an uptick in the final hour of trade led the index to
close well inside the positive territory. The bulls have
somehow managed to hold the level of 12470, a break of
which could trigger short term pessimism in the index. The
negative divergence in the momentum oscillator ‘RSI’ on the
hourly chart is still intact. Hence we believe that going
forward the index is likely to correct once it sustains below
Friday’s low of 12470. In this case the Bank Nifty may drift
lower towards 12330 - 12262 levels. On the upside 12680
- 12756 levels are likely to act as resistance for the day.
Actionable points:
View
Neutral
Resistance levels
12680- 12756
Support Levels
12470
Source: Falcon:
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Daily Technical Report
April 30, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,222
19,305
19,367
19,449
19,511
NIFTY
5,847
5,876
5,897
5,926
5,947
BANKNIFTY
12,440
12,525
12,593
12,677
12,746
ACC
1,201
1,221
1,234
1,254
1,267
AMBUJACEM
181
183
186
188
190
ASIANPAINT
4,629
4,672
4,719
4,762
4,809
AXISBANK
1,448
1,462
1,474
1,488
1,500
BAJAJ-AUTO
1,854
1,877
1,906
1,928
1,957
BANKBARODA
689
694
700
704
710
BHARTIARTL
307
313
318
324
330
BHEL
188
190
191
193
194
BPCL
409
411
414
417
420
CAIRN
298
302
305
310
313
CIPLA
400
404
409
413
418
COALINDIA
306
310
316
320
326
DLF
232
237
240
245
248
DRREDDY
1,960
1,979
1,999
2,018
2,038
GAIL
345
348
352
355
359
GRASIM
2,895
2,938
2,963
3,006
3,031
HCLTECH
662
682
692
711
722
HDFC
849
857
866
873
882
HDFCBANK
682
689
693
699
703
HEROMOTOCO
1,605
1,627
1,655
1,677
1,706
HINDALCO
97
98
99
100
101
HINDUNILVR
443
470
485
512
527
ICICIBANK
1,122
1,138
1,149
1,164
1,175
IDFC
152
154
156
159
160
INDUSINDBK
435
456
470
492
506
INFY
2,159
2,194
2,221
2,257
2,284
ITC
314
319
322
328
330
JINDALSTEL
283
292
304
313
325
JPASSOCIAT
73
75
76
78
80
KOTAKBANK
694
701
708
715
721
LT
1,507
1,518
1,533
1,544
1,559
LUPIN
676
681
690
695
703
M&M
885
894
900
908
914
MARUTI
1,659
1,671
1,688
1,700
1,716
NMDC
120
122
125
127
130
NTPC
154
155
156
157
158
ONGC
321
325
329
333
336
PNB
766
775
783
792
800
POWERGRID
109
110
110
111
112
RANBAXY
452
455
459
462
466
RELIANCE
783
788
793
798
804
RELINFRA
357
370
378
390
399
SBIN
2,234
2,254
2,282
2,301
2,329
SESAGOA
148
152
154
157
159
SUNPHARMA
916
928
948
960
980
TATAMOTORS
289
293
296
299
302
TATAPOWER
94
95
95
96
97
TATASTEEL
298
300
303
306
309
TCS
1,354
1,362
1,373
1,382
1,393
ULTRACEMCO
1,866
1,892
1,911
1,937
1,956
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Daily Technical Report
April 30, 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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