Daily Technical Report
December 31, 2012
Exhibit 1: Nifty Daily Chart
Sensex (19445) / NIFTY (5908)
On Friday, our benchmark indices traded with positive bias
to close above 5900 mark with a gain of 0.65%. This was
mainly due to buying in energy stocks following the reports
of a gradual hike in fuel prices. On sectoral front, Oil & gas
counters gained the most by more than 2%. The IT and PSU
counters also contributed to the rally while the Healthcare
and Banking sectors ended with marginal loss. The advance
to decline ratio was strongly in favor of advancing counters
(A=1514 D=1371) (Source -www.bseindia.com).
Formation
The ’20-day EMA’ and the ’20-week EMA’ are placed at
19263 / 5859 and 18638 / 5662 levels, respectively.
On the weekly chart, we are witnessing a breakout from
‘Downward Sloping Trend Line’ joining two significant
swing highs of 19811 / 5944 (April 2011) and 19137 /
5815 (Oct 2012) at 19050 / 5800 level.
The 38.20% and 50% Fibonacci retracement levels of
the rise from 18255 / 5548 (low on November 20,
Source: Falcon:
2012) to 19612 / 5965 (high on December 11, 2012)
are at 19100 - 18930 / 5806 - 5755, respectively.
Actionable points:
Trading strategy:
The first and the last week of the year 2012 both ended on a
View for the day
Neutral
cheerful note. Despite so many ups and downs, our
Resistance Levels
5931 - 5965
benchmark indices eventually managed to wrap up the year
Support Levels
5860 - 5843
with a massive gain of more than 25% over the previous
year’s closing. Compared to the previous week’s closing,
However any adverse developments in the US, with regards to
there is no significant change in the chart structure. Hence,
the ‘Fiscal Cliff’ may result in enhanced volatility in the market.
we continue to mention the narrow trading range of 19613 /
Considering the overall weekly chart structure we continue to
5965 - 19149 / 5823. Only a sustainable breakout on
remain positive on the market and any corrective move towards
either side would give a clear direction for the near term. A
19000 - 18900 / 5800 - 5750 levels should be used by
move beyond 19613 / 5965 level would result in an
positional traders as a buying opportunity.
extended rally towards 20050 - 20218 / 6000 - 6070
levels. Conversely, a closing below the lower range of 19149
We wish all traders and investors a happy and profitable 2013.
/ 5823 may trigger short term pessimism in the market. In
such a scenario, we may witness a correction towards 19100
- 18930 / 5806 - 5755. These levels are the 38.20% and
50% Fibonacci retracement levels of the rise from 18255 /
5548 (low on November 20, 2012) to 19612 / 5965 (high
on December 11, 2012), respectively.
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Daily Technical Report
December 31, 2012
Exhibit 2: Bank Nifty Hourly Chart
Bank Nifty Outlook - (12458)
On Friday, Bank Nifty traded in a narrow range throughout
the session to close on a flat note. The index continues to
trade in the mention range of 12568 - 12197. There is no
significant change in the chart structure and the positive
crossover in “Stochastic” momentum oscillator on the daily
chart mentioned in our previous report is still intact. Hence we
reiterate our view that if the index sustains above 12540 level
it is likely to rally towards 12654 - 12760 levels. On the
downside 12394 - 12363 levels are likely to act as support
for the day.
Actionable points:
View for the day
Positive Above 12540
Expected targets
12654 - 12760
Support Levels
12394 - 12363
Source: Falcon:
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Daily Technical Report
December 31, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
19,299
19,372
19,419
19,492
19,539
NIFTY
5,865
5,887
5,901
5,923
5,937
BANKNIFTY
12,349
12,403
12,449
12,503
12,549
ACC
1,385
1,397
1,407
1,419
1,429
AMBUJACEM
198
200
202
203
205
ASIANPAINT
4,334
4,364
4,386
4,417
4,439
AXISBANK
1,341
1,350
1,358
1,367
1,374
BAJAJ-AUTO
2,100
2,119
2,143
2,162
2,186
BANKBARODA
841
849
859
867
876
BHARTIARTL
309
314
319
324
328
BHEL
223
225
227
229
231
BPCL
336
344
353
361
370
CAIRN
316
318
319
322
323
CIPLA
412
414
418
420
424
COALINDIA
348
351
353
356
358
DLF
221
223
225
227
229
DRREDDY
1,808
1,817
1,828
1,837
1,847
GAIL
345
348
351
354
356
GRASIM
3,105
3,124
3,150
3,168
3,194
HCLTECH
615
621
628
633
641
HDFC
819
827
834
841
849
HDFCBANK
669
674
678
682
687
HEROMOTOCO
1,861
1,879
1,891
1,909
1,921
HINDALCO
126
128
130
131
133
HINDUNILVR
515
518
521
524
527
ICICIBANK
1,123
1,132
1,139
1,149
1,156
IDFC
170
172
173
174
176
INFY
2,275
2,299
2,312
2,336
2,349
ITC
286
288
289
291
292
JINDALSTEL
435
441
446
451
456
JPASSOCIAT
95
96
97
98
99
KOTAKBANK
642
646
651
656
661
LT
1,600
1,610
1,620
1,630
1,640
LUPIN
602
608
614
620
627
M&M
910
917
928
935
945
MARUTI
1,468
1,484
1,501
1,517
1,533
NTPC
154
155
157
158
159
ONGC
257
262
264
269
271
PNB
832
837
844
849
856
POWERGRID
111
112
114
115
117
RANBAXY
496
499
502
506
509
RELIANCE
811
826
836
850
860
RELINFRA
507
512
518
523
529
SBIN
2,354
2,367
2,382
2,395
2,410
SESAGOA
191
193
194
196
197
SIEMENS
649
659
666
676
683
SUNPHARMA
719
729
741
751
763
TATAMOTORS
306
308
310
312
314
TATAPOWER
108
109
109
110
111
TATASTEEL
422
425
429
433
437
TCS
1,242
1,255
1,263
1,276
1,285
ULTRACEMCO
1,947
1,959
1,968
1,980
1,988
WIPRO
384
388
390
395
397
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Daily Technical Report
December 31, 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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