Daily Technical Report
June 13, 2014
Sensex (25576) / Nifty (7650)
Exhibit 1: Nifty Daily Chart
Yesterday’s session began with very nominal upside gap as
indicated by the SGX Nifty. During the initial hour, index
corrected sharply from day’s high; but managed to recover
immediately and remained range bound throughout the
session. On the sectoral front, the Healthcare and Auto
sectors were among the major gainers; whereas the Teck
and Oil & Gas remained slightly under pressure throughout
the session. The advance to decline ratio was marginally in
favor of the advancing counters. (A=1746 D=1356)
(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:
Yesterday’s session was slightly lull as the index recovered
View
Neutral
from early morning’s lows and then traded within a narrow
Support Level
7579 - 7500
range throughout the session. It seems that the 7600 mark
Resistance Level
7700
is now gaining more importance day by day. Due to small
range movement, we are now observing yet another
‘Narrow Range Body’ on the daily chart. The trading range
of 6579 to 6700 has now become crucial for the index in
the near term. A sustainable move below Tuesday’s low of
7579 would confirm the ‘Hanging Man’ pattern. As a result,
the current optimism may get halted and then we may
witness an immediate correction towards 7500 - 7450
levels. On the flipside,
7700 would act as a strong
resistance for the index.
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Daily Technical Report
June 13, 2014
Bank Nifty Outlook - (15465)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened slightly higher
in-line with our benchmark index and traded within a
narrow throughout the session. This lethargic movement
led to yet another ‘Narrow Range Body’ formation.
However, we are not observing any major change in the
chart structure. Thus, we reiterate our view that 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
Support Levels
15337 - 15250
Source: Falcon
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Daily Technical Report
June 13, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,331
25,453
25,532
25,655
25,734
NIFTY
7,570
7,610
7,634
7,674
7,698
BANKNIFTY
15,200
15,333
15,426
15,558
15,651
ACC
1,454
1,465
1,478
1,489
1,501
AMBUJACEM
220
223
226
229
232
ASIANPAINT
534
542
547
555
560
AXISBANK
1,872
1,887
1,908
1,923
1,943
BAJAJ-AUTO
2,141
2,164
2,178
2,200
2,215
BANKBARODA
857
866
877
886
897
BHARTIARTL
332
337
345
350
358
BHEL
236
240
244
248
253
BPCL
578
589
605
615
631
CAIRN
362
366
371
375
380
CIPLA
408
412
416
420
423
COALINDIA
383
389
397
403
412
DLF
213
218
222
227
231
DRREDDY
2,404
2,420
2,432
2,448
2,461
GAIL
418
425
431
438
444
GRASIM
3,477
3,525
3,563
3,611
3,649
HCLTECH
1,363
1,385
1,403
1,425
1,444
HDFC
939
961
973
994
1,007
HDFCBANK
800
820
833
852
865
HEROMOTOCO
2,657
2,687
2,713
2,743
2,769
HINDALCO
159
164
167
172
175
HINDUNILVR
614
622
627
635
640
ICICIBANK
1,435
1,447
1,461
1,473
1,486
IDFC
128
130
132
133
135
INDUSINDBK
539
546
551
558
563
INFY
3,021
3,098
3,198
3,275
3,374
ITC
329
331
334
336
339
JINDALSTEL
319
327
333
342
348
KOTAKBANK
909
921
931
943
953
LT
1,699
1,711
1,722
1,733
1,745
LUPIN
958
973
984
999
1,009
M&M
1,195
1,212
1,222
1,239
1,249
MARUTI
2,377
2,429
2,459
2,511
2,540
MCDOWELL-N
2,755
2,765
2,783
2,793
2,811
NMDC
175
180
183
188
191
NTPC
155
158
160
162
164
ONGC
414
421
431
438
447
PNB
956
968
982
994
1,009
POWERGRID
130
133
135
139
141
RELIANCE
1,068
1,081
1,097
1,110
1,127
RELINFRA
748
762
778
792
808
SBIN
2,654
2,678
2,694
2,718
2,734
SSLT
283
288
293
298
303
SUNPHARMA
610
620
627
638
644
TATAMOTORS
438
444
448
453
457
TATAPOWER
103
105
107
109
111
TATASTEEL
536
543
550
557
565
TCS
2,155
2,196
2,225
2,266
2,295
TECHM
1,966
1,983
2,006
2,023
2,046
ULTRACEMCO
2,681
2,725
2,764
2,808
2,847
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Daily Technical Report
June 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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