Daily Technical Report
June 12, 2014
Sensex (25474) / Nifty (7627)
Exhibit 1: Nifty Daily Chart
Yesterday, once again our benchmark index managed to
open slightly higher and kept on moving upwards
throughout the first half. However, post midsession, we
witnessed a sharp correction from day’s high, which pulled
the index into the negative territory. On the sectoral front,
the Realty, Oil & Gas, Consumer Durables and Metal
witnessed a strong profit booking; whereas the Defensive
sectors like, the IT and Health Care outperformed our
benchmark index. The advance to decline ratio was
marginally in favor of the advancing counters. (A=1647
D=1487) (Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
22428 / 6690 and 20359 / 6094 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
23918 / 7137 and 22441 / 6696 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Our market made a positive start of the day and continued
View
Neutral
its optimism to test the 7700 mark for the first time ever.
Support Level
7579 - 7500
However, some of the skeptical traders chose to take some
Resistance Level
7700
money off the table and hence, we witnessed a sharp
correction of more than 100 points from day’s high during
the second half. A modest recovery towards the end led to
close with less than half a percent loss. Going forward,
Tuesday’s low of 7579 would hold a crucial support for the
index. We reiterate that a sustainable move below this level
would confirm the ‘Hanging Man’ pattern, which may apply
immediate brakes on the ongoing optimism. In this
scenario, we may witness a correction towards 7500 -
7450 levels. On the flipside, yesterday’s high of
7700
would act as a strong resistance for the index.
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Daily Technical Report
June 12, 2014
Bank Nifty Outlook - (15451)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened slightly higher
in-line with our benchmark index and continued its
upward movement during the first half. Similar to Nifty,
the banking index too witnessed a strong selling pressure
near morning high and trimmed all its gains. However,
index somehow managed to close with marginally in the
positive territory. Going forward, Tuesday’s low of 15337
would hold a key support for the index. Any sustainable
move below this level would extend this correction to test
15250 - 15200 levels. On the flipside, 15528 - 15660
would act as immediate resistance levels for the Bank
Nifty.
Actionable points:
View
Neutral
Resistance Levels
15528 - 15660
Source: Falcon
Support Levels
15337 - 15250
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Daily Technical Report
June 12, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,155
25,314
25,525
25,685
25,895
NIFTY
7,528
7,577
7,639
7,688
7,750
BANKNIFTY
15,200
15,325
15,493
15,618
15,785
ACC
1,443
1,464
1,489
1,509
1,534
AMBUJACEM
220
224
228
232
236
ASIANPAINT
532
538
543
549
554
AXISBANK
1,905
1,923
1,946
1,964
1,986
BAJAJ-AUTO
2,094
2,138
2,164
2,207
2,233
BANKBARODA
864
878
894
907
923
BHARTIARTL
342
349
357
363
372
BHEL
236
242
251
256
265
BPCL
589
598
611
620
633
CAIRN
358
365
374
381
391
CIPLA
403
408
413
418
422
COALINDIA
388
396
410
418
432
DLF
210
215
225
230
240
DRREDDY
2,375
2,404
2,421
2,449
2,466
GAIL
414
423
432
441
450
GRASIM
3,433
3,495
3,583
3,645
3,733
HCLTECH
1,373
1,389
1,404
1,420
1,434
HDFC
922
939
950
967
978
HDFCBANK
800
810
820
830
840
HEROMOTOCO
2,610
2,657
2,688
2,735
2,766
HINDALCO
155
159
165
169
176
HINDUNILVR
607
617
629
638
650
ICICIBANK
1,435
1,453
1,477
1,495
1,519
IDFC
129
131
134
136
139
INDUSINDBK
532
545
558
571
585
INFY
3,013
3,103
3,180
3,270
3,347
ITC
325
329
335
339
344
JINDALSTEL
312
320
331
339
350
KOTAKBANK
890
909
922
941
953
LT
1,688
1,703
1,724
1,739
1,760
LUPIN
959
970
981
992
1,004
M&M
1,199
1,213
1,226
1,240
1,253
MARUTI
2,405
2,427
2,455
2,476
2,504
MCDOWELL-N
2,737
2,764
2,808
2,835
2,880
NMDC
174
178
184
189
195
NTPC
152
155
160
163
167
ONGC
412
419
433
441
455
PNB
953
968
991
1,005
1,029
POWERGRID
129
131
134
137
140
RELIANCE
1,077
1,090
1,105
1,117
1,132
RELINFRA
745
764
790
809
835
SBIN
2,629
2,663
2,698
2,733
2,768
SSLT
282
288
295
301
307
SUNPHARMA
599
606
613
621
627
TATAMOTORS
430
438
446
454
461
TATAPOWER
102
105
109
111
115
TATASTEEL
533
541
553
562
574
TCS
2,111
2,159
2,186
2,235
2,262
TECHM
1,988
2,004
2,026
2,041
2,063
ULTRACEMCO
2,736
2,756
2,783
2,803
2,830
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Daily Technical Report
June 12, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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