Daily Technical Report
March 13, 2014
Sensex (21856) / Nifty (6517)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened tad lower as indicated
by the SGX Nifty. Subsequently, index oscillated within a
percent trading range for the entire session and eventually
closed with nominal gains. On the sectoral front, the FMCG
and Healthcare sectors managed to outperform the benchmark
index; whereas Banking, Capital Goods and Realty counters
witnessed profit booking. The advance to decline ratio was in
favor of declining counters. (A=1286 D=1470)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20765 / 6175 and 19607 / 5871 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
21210 / 6310 and 20843 / 6200 levels, respectively.
The weekly chart now clearly exhibits a breakout from the
‘Bullish Flag’ pattern.
Source: Falcon
Trading strategy:
Actionable points:
Yesterday's session was a replica of Tuesday's session as our
benchmark index remained within a narrow trading throughout
the session. Our markets completely overlooked other negative
View
Neutral
Asian bourses, which clearly indicate strength. We reiterate our
Support Levels
6485 - 6450
view that we may not witness any meaningful correction in the
Resistance Levels
6570 - 6600
near term. Sooner or later we are likely to move beyond 6600
- 6620 levels. On the flipside, any sustainable move below
6485 may lead to some intraday correction towards 6450 -
6440 levels.
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Daily Technical Report
March 13, 2014
Bank Nifty Outlook - (12024)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened marginally lower in-
line with our benchmark index. The index showed a zig-
zag movement throughout the session as it kept
oscillating from the positive to negative territory and vice
versa. As a result, we witnessed a flat closing for the
second consecutive session. We reiterate that the overall
trend remains bullish and we would continue to mention
that a closing beyond 12230 would push the index
towards its next resistance levels of 12500 - 12600. On
the other hand, the immediate support levels are seen at
11850 - 11750.
Actionable points:
View
Neutral
Support Levels
11850 - 11750
Resistance levels
12230 - 12500
Source: Falcon
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Daily Technical Report
March 13, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
21,666
21,761
21,863
21,959
22,061
NIFTY
6,458
6,487
6,517
6,546
6,576
BANKNIFTY
11,763
11,894
12,018
12,149
12,273
ACC
1,203
1,217
1,235
1,249
1,267
AMBUJACEM
174
177
181
184
188
ASIANPAINT
472
483
490
501
507
AXISBANK
1,372
1,385
1,405
1,418
1,438
BAJAJ-AUTO
1,927
1,943
1,970
1,986
2,013
BANKBARODA
616
629
639
652
661
BHARTIARTL
293
297
302
305
311
BHEL
178
181
185
188
192
BPCL
406
410
412
416
418
CAIRN
326
328
329
331
332
CIPLA
374
377
379
381
383
COALINDIA
250
255
258
263
266
DLF
173
176
180
182
186
DRREDDY
2,646
2,667
2,692
2,713
2,739
GAIL
361
366
372
376
382
GRASIM
2,702
2,738
2,788
2,824
2,875
HCLTECH
1,428
1,444
1,456
1,472
1,485
HDFC
840
847
853
860
865
HDFCBANK
709
717
725
734
742
HEROMOTOCO
2,001
2,031
2,049
2,079
2,097
HINDALCO
111
113
116
117
120
HINDUNILVR
554
557
561
565
569
ICICIBANK
1,173
1,192
1,208
1,227
1,243
IDFC
109
111
113
116
118
INDUSINDBK
453
462
468
476
482
INFY
3,624
3,648
3,676
3,699
3,727
ITC
331
336
339
345
348
JINDALSTEL
246
253
256
263
266
JPASSOCIAT
46
47
49
50
51
KOTAKBANK
727
736
744
753
762
LT
1,195
1,207
1,218
1,230
1,241
LUPIN
949
955
965
971
981
M&M
976
984
991
998
1,006
MARUTI
1,634
1,699
1,745
1,810
1,856
NMDC
121
124
126
129
131
NTPC
116
116
117
118
119
ONGC
311
314
318
321
325
PNB
599
607
617
624
634
POWERGRID
97
98
98
99
99
RANBAXY
356
360
364
368
372
RELIANCE
859
865
874
880
889
RELINFRA
402
409
418
425
434
SBIN
1,616
1,630
1,652
1,667
1,689
SESAGOA
172
174
177
179
182
SUNPHARMA
572
588
598
614
624
TATAMOTORS
382
385
392
395
402
TATAPOWER
81
82
83
84
85
TATASTEEL
331
335
342
346
353
TCS
2,137
2,158
2,174
2,195
2,211
ULTRACEMCO
1,922
1,943
1,973
1,994
2,024
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Daily Technical Report
March 13, 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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