Daily Technical Report
December 12, 2013
Sensex (21171) / Nifty (6308)
Exhibit 1: Nifty Daily Chart
Yesterday, for the second consecutive session, our benchmark
indices opened marginally lower as indicated by the SGX Nifty.
The index then slipped further and extended its early morning
losses during the first half. However, post midsession,
benchmark indices managed to give a decent recovery and
close off the lows. On the sectoral front, excluding FMCG, all
other sectors closed in the negative territory. Capital Goods
and Auto counters were the major culprits in yesterday’s
session. The advance to decline ratio was in favor of the
declining
counters.
(A=1090
D=1397)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20838 / 6022 and 19142 / 5746 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20803 / 6198 and 20284 / 6035 levels, respectively.
Source: Falcon
The monthly momentum oscillators are still positively
poised.
Actionable points:
Trading strategy:
View
Bearish below 6275
Yesterday’s low precisely coincides with the mentioned support
Expected Targets
6200 - 6180
level of 6280. This level provided a strong support for the
Resistance Levels
6363 - 6415
index and the index has managed to close above the
psychological level of 6300 mark. The current daily candle
resembles a ‘Doji’ Japanese candlestick pattern. The said
pattern has occurred at the gap area near the 6280 / 6300
support band mentioned in our previous reports and around
the
‘5-Day EMA’. Going forward, any sustainable move
beyond yesterday’s high of 6327 may attract buying interest
among market participants. In this scenario, we expect the
index to retest 6363 - 6415 levels. On the other hand, 6280
holds a key support for the market. A close below this level
may apply brakes on current optimism and the index then may
slide towards the immediate support levels of 6200 - 6180.
www.angelbroking.com
1
Daily Technical Report
December 12, 2013
Bank Nifty Outlook - (11784)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened lower in line with
the weakness seen in the broader market. However, a
sharp recovery from the lows in the last hour of trade led
to close with very negligible losses. At this juncture, the
‘Runaway Gap’ mentioned in our previous report has now
been completely filled. Also, this correction can be
construed as a pull back of the recent rally. Further, the
Daily chart now depicts a Narrow range body formation,
near ‘5-day EMA’, which is a sign of uncertainty amongst
the bears. Hence, we expect the Bank Nifty to re test
12000 - 12250 levels if it manages to sustain above
yesterday’s high of 11878. On the flipside, 11687 may
act as an immediate support level for the index. A fall and
close below this level would negate all possibilities of a
near term up move.
Actionable points:
Source: Falcon
View
Neutral
Support Levels
11687 - 11580
Resistance Levels
11878 - 12068
www.angelbroking.com
2
Daily Technical Report
December 12, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
21,006
21,089
21,152
21,235
21,299
NIFTY
6,259
6,283
6,305
6,330
6,351
BANKNIFTY
11,593
11,689
11,783
11,879
11,973
ACC
1,111
1,123
1,141
1,153
1,171
AMBUJACEM
185
187
189
190
192
ASIANPAINT
495
498
502
506
509
AXISBANK
1,222
1,248
1,266
1,291
1,309
BAJAJ-AUTO
1,970
1,984
1,999
2,012
2,027
BANKBARODA
676
683
692
699
708
BHARTIARTL
319
323
331
336
343
BHEL
158
160
162
165
167
BPCL
339
345
351
357
364
CAIRN
324
325
327
329
330
CIPLA
383
385
388
391
394
COALINDIA
271
280
285
294
299
DLF
154
155
157
159
161
DRREDDY
2,404
2,423
2,439
2,458
2,474
GAIL
338
341
345
349
353
GRASIM
2,641
2,680
2,707
2,746
2,774
HCLTECH
1,142
1,159
1,172
1,190
1,203
HDFC
796
807
816
827
836
HDFCBANK
680
688
695
703
710
HEROMOTOCO
2,114
2,139
2,174
2,198
2,234
HINDALCO
120
122
124
126
128
HINDUNILVR
557
561
566
570
574
ICICIBANK
1,126
1,142
1,157
1,174
1,189
IDFC
107
108
109
110
111
INDUSINDBK
432
439
445
452
458
INFY
3,324
3,349
3,365
3,391
3,407
ITC
315
318
320
323
325
JINDALSTEL
258
263
268
272
278
JPASSOCIAT
52
53
54
55
55
KOTAKBANK
754
762
768
776
782
LT
1,067
1,074
1,083
1,089
1,098
LUPIN
860
868
876
883
891
M&M
933
941
950
959
967
MARUTI
1,714
1,733
1,755
1,774
1,796
NMDC
136
138
140
142
144
NTPC
136
138
139
141
142
ONGC
283
287
292
297
302
PNB
585
591
597
602
609
POWERGRID
97
97
98
99
99
RANBAXY
414
420
426
432
438
RELIANCE
868
875
880
888
892
RELINFRA
426
431
435
440
444
SBIN
1,746
1,771
1,807
1,833
1,868
SESAGOA
191
194
196
198
200
SUNPHARMA
575
579
585
589
594
TATAMOTORS
370
374
380
384
391
TATAPOWER
84
85
87
87
89
TATASTEEL
411
415
420
423
429
TCS
2,019
2,038
2,063
2,082
2,106
ULTRACEMCO
1,877
1,893
1,911
1,926
1,945
www.angelbroking.com
3
Daily Technical Report
December 12, 2013
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4