Daily Technical Report
August 17, 2012
Exhibit 1: Nifty Daily Chart
Sensex (17657) / NIFTY (5363)
Yesterday yet again we witnessed a flat opening on
the back of quiet global cues and indices corrected
marginally in the second half to close in the negative
territory. On the sectoral front, the capital Goods, Oil
& Gas and Auto ended in the positive territory;
whereas Metal, Capital Goods and FMCG remained
under pressure throughout the day. The advance to
decline ratio was in favor of declining counters
(A=1305 D=1522) (Source -www.bseindia.com).
Formation
On the weekly chart, the indices have precisely
tested the “Downward Sloping Trend Line”
resistance near 17727 / 5386 formed by joining
the highs of 21109 / 6339 (November 5, 2010)
- 18524 / 5630 (February 24, 2012).
The ’20-day EMA’ and the ’200-day SMA’ are
placed at 17284 / 5242 and 16900 / 5100
levels, respectively.
Source: Falcon
A weekly closing above 17727 / 5386 level
would confirm a ‘Higher Top - Higher Bottom’
Actionable points:
formation on the weekly chart after August 28,
2009.
View
Neutral
The candlestick pattern on the daily chart
Resistance Levels
5391 - 5425
resembles a “Shooting star” and signifies
Support Levels
5329 - 5290
resistance near 17727 / 5386 levels.
Trading strategy:
Looking at the past couple of trading sessions, it is
clear that 17754 / 5387 level is proving to be strong
resistance level. Failure to close above this level
(17754
/
5387) in multiple sessions is a clear
evidence of the same. Yesterday too was no
exception. Going forward, the coming trading session
can be decisive as it would dictate the weekly closing
for our markets. For the day, if our markets sustain
above 17764 / 5391, then they are likely to rally
higher to test 17840 / 5425 level. Conversely, 17572
- 17450 / 5329 - 5290 levels may provide decent
support for the day.
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Daily Technical Report
August 17, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (10427)
We had mentioned a broad trading range of 10240
to 10622. Yesterday, Bank Nifty corrected sharply
during the second half of the session and contributed
significantly to the fall in the broader markets. Going
forward, we are of the opinion that if Bank Nifty
sustains below
10375 level, then the negative
momentum is likely to increase further and in this
scenario, the support level of 10240 may be tested.
Conversely, 10551 - 10641 levels would act as
strong and decisive resistance levels for Bank Nifty.
Actionable points:
View
Neutral
Resistance Levels
10551- 10641
Support Levels
10375 - 10240
Source: Falcon
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Daily Technical Report
August 17, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,564
17,611
17,687
17,734
17,810
NIFTY
5,336
5,350
5,370
5,384
5,404
BANKNIFTY
10,316
10,371
10,461
10,517
10,607
ACC
1,321
1,330
1,344
1,353
1,367
AMBUJACEM
189
190
193
194
197
ASIANPAINT
3,640
3,676
3,731
3,767
3,822
AXISBANK
1,100
1,107
1,115
1,121
1,129
BAJAJ-AUTO
1,671
1,682
1,694
1,705
1,717
BANKBARODA
635
639
644
648
653
BHARTIARTL
258
259
261
262
264
BHEL
226
228
231
233
236
BPCL
340
342
345
347
349
CAIRN
328
331
334
336
339
CIPLA
346
351
356
361
366
COALINDIA
346
350
352
356
358
DLF
212
214
217
219
221
DRREDDY
1,624
1,641
1,655
1,673
1,687
GAIL
361
364
369
372
377
GRASIM
2,987
3,006
3,028
3,047
3,068
HCLTECH
544
551
555
562
566
HDFC
699
704
711
717
723
HDFCBANK
592
596
602
606
612
HEROMOTOCO
1,871
1,900
1,920
1,949
1,969
HINDALCO
114
115
118
119
121
HINDUNILVR
487
491
494
497
500
ICICIBANK
939
948
962
970
985
IDFC
136
139
141
144
146
INFY
2,288
2,302
2,315
2,329
2,342
ITC
250
254
261
265
272
JINDALSTEL
404
412
417
424
430
JPASSOCIAT
74
75
76
77
78
KOTAKBANK
578
582
587
591
597
LT
1,439
1,458
1,470
1,489
1,501
M&M
740
753
761
774
782
MARUTI
1,152
1,162
1,180
1,190
1,208
NTPC
168
169
171
171
173
ONGC
280
282
285
287
290
PNB
718
724
732
738
746
POWERGRID
117
118
120
122
124
RANBAXY
494
503
510
519
526
RELIANCE
790
803
812
826
835
RELINFRA
518
523
530
535
543
SAIL
83
84
85
86
88
SBIN
1,869
1,882
1,903
1,915
1,936
SESAGOA
182
185
190
193
198
SIEMENS
649
653
660
664
671
STER
106
108
110
112
115
SUNPHARMA
651
657
664
669
676
TATAMOTORS
228
232
236
239
243
TATAPOWER
100
100
101
102
103
TATASTEEL
389
394
402
406
414
TCS
1,243
1,253
1,262
1,273
1,282
WIPRO
343
346
350
354
358
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Daily Technical Report
August 17, 2012
Research Team Tel: 022 - 39357800
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
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
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