Daily Technical Report
June 28, 2013
Exhibit 1: Nifty Daily Chart
Sensex (18876) / NIFTY (5682)
Yesterday, our benchmark indices opened substantially
higher on the back of strong global cues. Subsequently,
indices traded within the narrow range for the entire first
half. However, post midsession, indices resumed their initial
opening momentum and moved higher during the second
half of the session. The Oil & Gas, IT and Health Care
sectors contributed heavily in yesterday’s up move; whereas
the Consumer Durables counters remained under pressure
throughout the session. The advance to decline ratio was
marginally in favor of advancing counters.
(A=1210
D=1112)
(Source-www.bseindia.com)
Formation
The ’20-week EMA’ and the ’89-Week EMA’ are placed
at 19263 / 5834 and 18465/ 5588 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
19316/ 5851 and 19191 / 5819, respectively.
The daily momentum oscillator’s viz., the RSI and the
Stochastics are signaling a positive crossover.
Source: Falcon:
Actionable points:
Trading strategy:
Our benchmark indices opened on a cheerful note
View
Bullish Above 5700
considering modest bounce in all major equity bourses
Expected Targets
5754 - 5770
across the globe. The initial up move remained intact
Support Level
5630
throughout the session and as a result, indices posted a
sizeable gain of more than one and half percent. Indices
have now approached the higher end of the hourly
‘Downward Sloping Channel’ mentioned in our earlier
reports. We are now observing that, the daily momentum
oscillators are now signaling a positive crossover. In
addition, indices have now convincingly closed above daily
‘5 EMA’, indicating near term strength. Further, indices have
also confirmed a ‘Long Legged Doji’ Japanese candlestick
pattern. Hence, considering these technical evidences, we
are of the opinion that if indices sustain above yesterday’s
high of 18926 / 5700, then we may witness further rally
towards 19069 - 19100 / 5754 - 5770. On the flipside,
yesterday’s low of 18688 / 5630 would act as a key support
in coming trading session.
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Daily Technical Report
June 28, 2013
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (11236)
Yesterday, the Bank Nifty too opened with decent upside gap
in-line with our benchmark indices. However, the movement
was lackluster throughout the session, as compared to
benchmark indices. On the daily chart, the ‘RSI’ and the
‘Stochastics’ momentum oscillators have signaled a positive
crossover. Hence, we are of the opinion that if the Bank Nifty
sustains above yesterday’s high of 11277, then it may attract
some buying interest among market participants. In this case,
the Bank Nifty may rally towards 11326 - 11420 levels.
Conversely, yesterday’s low of 11164 would act as a crucial
intraday support for the index. It would be important to note
that the charts of the Nifty are relatively stronger than the
Bank Nifty charts.
Actionable points:
View
Bullish Above 11277
Expected Targets
11326 - 11420
Source: Falcon:
Support Level
11164
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Daily Technical Report
June 28, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,593
18,734
18,830
18,972
19,067
NIFTY
5,602
5,642
5,671
5,711
5,739
BANKNIFTY
11,114
11,175
11,226
11,287
11,338
ACC
1,160
1,181
1,197
1,218
1,234
AMBUJACEM
176
179
181
184
187
ASIANPAINT
4,390
4,464
4,582
4,656
4,774
AXISBANK
1,253
1,264
1,275
1,285
1,296
BAJAJ-AUTO
1,748
1,793
1,832
1,877
1,916
BANKBARODA
552
559
570
578
589
BHARTIARTL
274
277
282
285
289
BHEL
160
161
164
165
168
BPCL
336
341
348
353
360
CAIRN
270
279
285
294
300
CIPLA
375
381
386
392
397
COALINDIA
282
285
288
291
294
DLF
167
172
174
179
182
DRREDDY
2,074
2,116
2,148
2,191
2,222
GAIL
291
295
300
305
310
GRASIM
2,665
2,710
2,765
2,810
2,865
HCLTECH
762
779
789
806
817
HDFC
796
816
830
851
864
HDFCBANK
610
628
641
659
671
HEROMOTOCO
1,591
1,620
1,649
1,678
1,707
HINDALCO
94
95
96
97
98
HINDUNILVR
585
587
589
591
592
ICICIBANK
1,014
1,023
1,033
1,041
1,052
IDFC
120
123
127
130
135
INDUSINDBK
442
449
456
463
471
INFY
2,378
2,430
2,465
2,518
2,552
ITC
312
317
322
327
332
JINDALSTEL
188
195
201
207
214
JPASSOCIAT
47
49
51
53
55
KOTAKBANK
685
693
702
710
719
LT
1,315
1,333
1,353
1,370
1,390
LUPIN
743
757
769
783
795
M&M
907
920
935
949
964
MARUTI
1,479
1,500
1,532
1,554
1,586
NMDC
99
100
101
101
102
NTPC
136
138
141
143
145
ONGC
307
314
318
324
328
PNB
620
628
641
649
662
POWERGRID
105
106
107
108
109
RANBAXY
312
315
318
321
324
RELIANCE
805
817
827
840
850
RELINFRA
316
322
330
337
344
SBIN
1,886
1,899
1,915
1,928
1,944
SESAGOA
132
135
138
141
144
SUNPHARMA
919
945
972
999
1,026
TATAMOTORS
256
263
270
277
285
TATAPOWER
80
81
82
82
83
TATASTEEL
257
260
265
269
273
TCS
1,422
1,457
1,477
1,512
1,532
ULTRACEMCO
1,728
1,803
1,850
1,925
1,973
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Daily Technical Report
June 28, 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
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