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Daily Technical Report
July 12 , 2013
Sensex (19676) / NIFTY (5935)
Yesterday, our benchmark indices opened substantiallhigher as indicated by the SGX Nifty early in the morning.
Markets then maintained their early gains and graduall
moved higher to end the session with massive gain of 2%.
The Metals, Banking and Reality counters outperformed
significantly whereas Consumer Durables faced selling
pressure. The cash segment volumes remained considerabl
lower in spite of such a strong rally in the markets. The
advance to decline ratio was strongly in the favor o
advancing counters (A=1358 D=974) (Source–
www.bseindia.com).
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed a
19338 / 5850 and 18526 / 5605 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed a
19310/ 5823 and 19363 / 5859, respectively.
The weekly ‘RSI’ and ‘Stochastic’ oscillators are positivel
poised.
The 61.8% and 78.60% Fibonacci retracement levels o
the fall from 20444 / 6229 to 18467/ 5566 are placed
at 19689 / 5976 and 20021 / 6088, respectively.
The weekly chart now depicts a ‘Bullish Engulfing’
pattern but the monthly chart shows a 'Bearish Engulfing"
Japanese candlestick pattern.
Trading strategy:
All the equity markets across the globe got a booster shot
after the Fed Reserve chairman Ben Bernanke announced
that the central bank is not in a hurry to raise short terrates and that the accommodative monetary policy will be
here to stay for the foreseeable future. We witnessed a huge
gap opening in our market and a breakout beyond the stif
resistance level of 19640 / 5904. The daily chart no
depicts a breakout from the 'Bullish Pennant' pattern.
Considering the current momentum and the positive
placement of weekly oscillators, we expect our market to rall
towards 19860 / 6011 if they sustain above yesterday’s high
of 19723 / 5948 levels. On the flipside, 19640 - 19598/
5904 - 5887 would act as support for our market. Trader
should bear in mind that the Infosys results and the IIPnumbers will be declared in today’s session. Thus trader
should stay light on positions and maintain strict stop losse
for their trades.
Exhibit 1: Ni fty Daily Chart
Source: Falcon :
Actionable poin ts:
View N eutral
Support Levels 5887 - 5904
Resistance Level 5948 - 6011
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Daily Technical Report
July 12, 2013
Bank N ifty Outlook - (11655)
Yesterday, the Bank Nifty too opened with nearly two percentupside gap in-line with optimistic trading mood across the
globe. During the entire session, the Bank Nifty managed on
to the gains and to close well inside the positive territory. In
the process, the index has given a 'Downward Sloping Trend
Line' breakout as shown in the chart and also crossed the
daily '20 EMA' placed at 11567. Considering the positive
placement in daily momentum oscillators, we expect the Bank
Nifty to test its next resistance level of 11752. Conversely,
yesterday's low of 11541 would be key support in coming
trading session. A fall below this low would negate allbullish possibilities in the near term and traders can use
this as a stop loss for their long positions.
Actionable points:
View N eutral
Resistance Level 11752
Support Level 11541
Exhibit 2: Bank Ni fty Daily Chart
Source: Falcon :
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Daily Technical Report
July 12, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS S2 S1 PIVO T R1 R2
SENSEX 19,368 19,522 19,623 19,777 19,878
NIFTY 5,863 5,899 5,924 5,960 5,985BANKNIFTY
11,467 11,561 11,636 11,730 11,804ACC 1,230 1,240 1,255 1,265 1,280
AMBUJACEM 194 196 197 199 201
ASIANPAINT 4,780 4,827 4,857 4,905 4,935
AXISBANK 1,266 1,277 1,288 1,299 1,311
BAJAJ-AUTO 1,852 1,864 1,876 1,889 1,901
BANKBARODA 557 563 569 574 580
BHARTIARTL 290 295 298 303 306
BHEL 182 184 187 189 191
BPCL 334 337 341 343 347
CAIRN 287 290 292 295 298
CIPLA 395 398 401 403 407
COALINDIA 288 293 298 303 308
DLF 175 177 178 180 182
DRREDDY 2,243 2,269 2,288 2,314 2,333
GAIL 314 317 320 324 327
GRASIM 2,797 2,819 2,847 2,869
HCLTECH 824 832 841 849 857
HDFC 826 840 849 863 871
HDFCBANK 658 671 679 691 699
HEROMOTOCO 1,633 1,665 1,690 1,722 1,747
HINDALCO 98 100 102 105 107
HINDUNILVR 590 596 599 605 609
ICICIBANK 1,037 1,047 1,061 1,071 1,084
IDFC 129 130 131 132 134
INDUSINDBK 497 504 510 517 524
INFY 2,480 2,504 2,534 2,558 2,588
ITC 343 348 351 357 360
JINDALSTEL 216 219 223 226 231
JPASSOCIAT 53 53 54 55 56
KOTAKBANK 721 733 743 755 765
LT 945 955 967 977 990
LUPIN 857 863 869 875 881
M&M 906 912 921 927 936
MARUTI 1,445 1,476 1,527 1,557 1,609
NMDC 104 105 107 108 110
NTPC 141 143 144 145 147
ONGC 297 301 304 308 311
PNB 618 624 632 638 646
POWERGRID 108 109 110 111 113
RANBAXY 334 338 344 349 355
RELIANCE 853 862 868 876 882
RELINFRA 374 378 382 386 391
SBIN 1,885 1,898 1,913 1,926 1,941
SESAGO A 140 145 148 153 157
SUNPHARMA 1,074 1,085 1,097 1,107 1,119
TATAMOTORS 278 281 286 290 295
TATAPOWER 86 87 88 89 90
TATASTEEL 256 258 262 265 268
TCS 1,502 1,533 1,552 1,583 1,602
ULTRACEMCO 1,958 1,969 1,979 1,990 1,999
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Daily Technical Report
July 12, 2013
esearch Team Tel: 022 - 30940000 E-mail: amee [email protected] Website: www.angelbroking.com
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Shardul Kulkarni - Head – Technicals Sameet Chavan - Technical Analyst
Sacchitanand Uttekar - Technical Analyst
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