Download - Technical Format With Stock 11.01.2013
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Daily Technical Report
anuary 11, 2013
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Sensex (19664) / NIFTY (5969)
Yesterday, we witnessed a gap up opening on the back
positive global cues but indices pared early gains toeventually close marginally below yesterdays close. During
the session, Power, Healthcare, Metal and Capital good
counters were among the biggest losers; whereas Banking
and O il & Gas sectors defended the market. The advance to
decline ratio was strongly in favor of declining counter
(A=1183 D=1797) (Source www.bseindia.com).
Formation
The 20-day EMA and the 20-week EMA are placed a19511 / 5931 and 18835 / 5722 levels, respectively.
On the daily chart, the benchmark indices are facingresistance near the Upward Sloping Trend Line drawn
by joining the highs of October 5, 2012 and December
11, 2012.
Trading strategy:
Despite the strong corrective move during the second half onWednesday, indices managed to open with a decent upside
gap in yesterdays session. At present, indices have closed
below the hourly Upward Sloping Channel mentioned in
our previous report. Considering the Negative Divergence
in daily RSI momentum oscillator, we reiterate our view that
the possibility of testing 19509 19406 / 5935 5897
levels, is quite high. On the flipside, Wednesdays high o
19824 / 6020 would act as strong resistance in coming
trading session. The earning season kicks off with Infosy
declaring results today and that can prove to be a catalys
for a decisive move.
Exhibit 1: Nifty Daily Chart
Source: Falcon:
Actionable points:
View Neutral
Resistance Levels 6020 6042
Support Levels 5935 - 5897
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Bank Nifty Outlook - (12802)
Yesterday, Bank Nifty opened on a positive note and traded
in a narrow range throughout the session. Looking at the
chart structure on the hourly chart we can see a trend line
breakout coupled with positive placement of momentum
oscillators. Thus if the index manages to move beyond the
12838 level, we expect a rally towards 12892 12964
levels. On the downside 12715 12688 levels are likely to
act as support for the day.
Actionable points:
View Bullish Above 12838
Expected Targets 12892 12964
Support Levels 12715 12688
Exhibit 2: Bank Nifty Daily Chart
Source: Falcon:
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Daily Pivot Levels for N ifty 50 StocksSCRIPS S2 S1 PIVOT R1 R2
SENSEX 19,494 19,579 19,681 19,766 19,869
NIFTY 5,916 5,942 5,974 6,000 6,032
BANKNIFTY 12,649 12,726 12,774 12,851 12,899
ACC 1,354 1,367 1,385 1,398 1,416
AMBUJACEM 187 189 194 196 200
ASIANPAINT 4,310 4,336 4,377 4,403 4,444
AXISBANK 1,332 1,350 1,363 1,381 1,395
BAJAJ-AUTO 2,104 2,121 2,149 2,166 2,194
BANKBARODA 865 874 880 890 896
BHARTIARTL 323 327 330 334 337
BHEL 227 229 234 236 241
BPCL 369 375 385 391 402
CAIRN 334 337 341 344 349
CIPLA 419 422 427 430 435
COALINDIA 359 362 367 371 376
DLF 229 231 234 236 239
DRREDDY 1,880 1,895 1,909 1,924 1,938
GAIL 359 363 370 375 382
GRASIM 3,053 3,090 3,137 3,174 3,221
HCLTECH 629 635 643 650 658
HDFC 812 819 827 834 842
HDFCBANK 662 669 673 680 685
HEROMOTOCO 1,829 1,839 1,852 1,862 1,875
HINDALCO 126 128 131 133 136
HINDUNILVR 509 513 517 521 526
ICICIBANK 1,150 1,165 1,176 1,191 1,203IDFC 176 178 179 181 183
INFY 2,291 2,307 2,325 2,340 2,358
ITC 277 279 281 283 284
JINDALSTEL 442 445 450 453 457
JPASSOCIAT 94 96 97 99 100
KOTAKBANK 643 648 655 661 667
LT 1,515 1,531 1,546 1,562 1,577
LUPIN 571 578 588 595 605
M&M 943 952 963 972 983
MARUTI 1,550 1,561 1,575 1,586 1,600
NTPC 151 152 155 156 158
ONGC 292 297 300 305 308
PNB 877 882 891 897 905
POWERGRID 112 113 115 116 118
RANBAXY 498 502 507 511 516
RELIANCE 840 845 852 857 864
RELINFRA 551 558 565 573 580
SBIN 2,509 2,524 2,538 2,553 2,567
SESAGO A 188 191 195 197 201
SIEMENS 673 675 679 681 684
SUNPHARMA 742 748 756 763 771
TATAMOTORS 327 330 334 337 341
TATAPOWER 107 108 109 110 111TATASTEEL 413 417 422 425 430
TCS 1,238 1,248 1,265 1,275 1,292
ULTRACEMCO 1,825 1,862 1,927 1,964 2,029
WIPRO 386 391 398 403 411
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Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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Research Team
Shardul Kulkarni - Head TechnicalsSameet Chavan - Technical Analyst
Sacchitanand Uttekar - Technical Analyst
Mehul Kothari - Technical Analyst
Ankur Lakhotia - Technical Analyst
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