Daily Technical Report
August 14, 2013
Exhibit 1: Nifty Daily Chart
Sensex (19230) / NIFTY (5699)
Yesterday, we witnessed a flat opening in our market
considering mixed global cues. Similar to Monday’s session,
the markets slipped lower during the initial hour and then
rallied in the second half to close with one and half a percent
gains. During the session, the Realty counters surged higher
along with the Banking and Auto stocks; whereas the
Consumer Durables ended with nominal losses. The Advance
to Decline ratio was strongly in favor of advancing counters.
(A=1432 D=913) (Source-www.bseindia.com )
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
19403/ 5834 and 18625 / 5624 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
19301 / 5744 and 19379 / 5821, respectively.
The monthly ‘RSI-Smoothened’ oscillator is negatively
poised; whereas the daily ‘RSI’ momentum oscillator is
now signaling a positive crossover.
Source: Falcon:
The Nifty’s weekly chart continues to depict a ‘Lower Top -
Lower Bottom’ formation on a closing basis.
Actionable points:
View
Bullish above 5721
Trading strategy:
Expected targets
5744 - 5790
We have been mentioning that the momentum oscillators on
Support Levels
5658 - 5644
daily chart are placed well inside the extreme oversold territory
and hence, the possibility of near term bounce is quite high. In-
line with our expectations, we witnessed a substantial bounce
in markets from the early morning lower levels. This price
development has negated the breakdown from the ‘Triangular’
pattern mentioned in our previous reports. We are now
observing a positive crossover in daily ‘RSI’ momentum
oscillator. This indicates the possibility of a further rally if the
Nifty sustains above last week’s high of 5721. In this scenario,
we can expect the continuation of the current momentum and
the markets may rally towards 5744 - 5790 levels. Here, 5744
is the daily
’20 EMA’ level and 5790 is 50% Fibonacci
retracement level of the fall from 6094 to 5486. On the
flipside, the immediate intraday support levels are seen around
5644 - 5579.
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Daily Technical Report
August 14, 2013
Bank Nifty Outlook - (9986)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, unlike our benchmark indices, the Bank Nifty
opened slightly lower and slipped inside the negative
territory by more than a percent. The bears made a valiant
attempt to sneak below the support level 9660 - 9619; but
failed to do so considering the extreme oversold position
of momentum oscillators. As a result, we witnessed
massive intraday rally of nearly 4% from the early morning
low of
9582. The daily ‘RSI-Smoothened’ momentum
oscillator is now signaling a positive crossover. Also the
price action depicts a strong “Bullish Engulfing” Japanese
candlestick pattern. Going forward, any sustainable move
above 10008 may push the index towards 10118 - 10220
-10348 levels. On the flipside, yesterday’s low of 9582 will
now act as a key support level for Bank Nifty.
Actionable points:
View
Bullish above 10008
Expected targets
10118 - 10220- 10348
Source: Falcon:
Support Levels
9832 - 9660
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Daily Technical Report
August 14, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,731
18,980
19,114
19,364
19,498
NIFTY
5,535
5,617
5,661
5,743
5,787
BANKNIFTY
9,434
9,710
9,859
10,135
10,284
ACC
1,131
1,146
1,163
1,178
1,195
AMBUJACEM
168
171
175
178
182
ASIANPAINT
427
433
438
444
448
AXISBANK
1,007
1,075
1,117
1,185
1,227
BAJAJ-AUTO
1,768
1,814
1,842
1,887
1,915
BANKBARODA
499
509
519
529
538
BHARTIARTL
327
337
343
353
359
BHEL
114
118
121
124
127
BPCL
270
278
283
291
296
CAIRN
291
295
301
305
311
CIPLA
409
417
422
430
435
COALINDIA
262
265
269
273
277
DLF
137
143
147
154
158
DRREDDY
2,131
2,185
2,215
2,269
2,300
GAIL
290
299
306
315
321
GRASIM
2,324
2,383
2,422
2,481
2,519
HCLTECH
926
933
942
950
959
HDFC
742
767
781
806
820
HDFCBANK
588
604
614
631
641
HEROMOTOCO
1,894
1,919
1,942
1,966
1,989
HINDALCO
87
89
92
94
96
HINDUNILVR
599
610
618
629
636
ICICIBANK
834
863
880
910
927
IDFC
104
108
111
115
117
INDUSINDBK
356
370
379
393
402
INFY
2,976
3,030
3,062
3,116
3,148
ITC
329
331
335
338
342
JINDALSTEL
219
222
226
230
234
JPASSOCIAT
30
31
32
34
35
KOTAKBANK
629
644
653
668
677
LT
767
785
798
817
830
LUPIN
803
821
834
852
866
M&M
847
861
879
893
912
MARUTI
1,330
1,364
1,388
1,422
1,446
NMDC
106
107
109
111
112
NTPC
133
139
142
147
150
ONGC
266
270
275
279
283
PNB
513
526
536
549
559
POWERGRID
93
95
96
97
98
RANBAXY
347
372
387
413
428
RELIANCE
824
839
849
864
874
RELINFRA
340
351
358
370
377
SBIN
1,555
1,588
1,607
1,640
1,659
SESAGOA
132
134
136
138
140
SUNPHARMA
526
537
544
555
563
TATAMOTORS
269
280
287
298
305
TATAPOWER
72
74
76
78
79
TATASTEEL
227
234
239
246
251
TCS
1,790
1,805
1,825
1,840
1,860
ULTRACEMCO
1,620
1,658
1,684
1,722
1,748
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Daily Technical Report
August 14, 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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