Daily Technical Report
July 19, 2012
Exhibit 1: Nifty Daily Chart
Sensex (17185) / NIFTY (5216)
We witnessed yet another flat opening during
yesterday’s session on the back of mixed global cues
but a minor up move during the second half led
indices to close above 5200 mark. On the sectoral
front, the buying interest was seen in Metal, Capital
Goods and Realty counters; whereas Oil & Gas and
Health Care ended with a marginal loss. The advance
to decline ratio was marginally in favor of advancing
counters
(A=1407 D=1372) (Source
-
www.bseindia.com).
Formation
The weekly 61.8% Fibonacci retracement of the
fall from 18524 /5630 (February 22, 2012) -
15749 / 4770 (June 4, 2012) is seen at 17464 /
5302.
On the weekly chart, we are witnessing a
“Downward Sloping Trend Line” resistance near
17687 / 5386 formed by joining the highs of
21109 / 6339 (November 5, 2010) - 18524 /
5630 (February 24, 2012).
Source: Falcon
A horizontal consolidation band is observed in
the range of 17034 / 5159 and 17635 / 5350.
Actionable points:
The ‘20 day EMA’ is placed at 17200 / 5218
level.
View
Bullish above 5223
Expected Targets
5247 - 5267 - 5300
Support Levels
5159
Trading strategy:
Yesterday, after a flat opening our benchmark indices
drifted lower to test the gap area of (17135 - 17034 /
5189 - 5159 levels) formed on 29thJune 2012. As
expected and mentioned in our previous report,
indices found support near the gap area in the later
half and witnessed smart recovery from the day’s low
to close above 5200 mark. Going forward, on the
upside Monday’s high of 17282 / 5247 may act as
an immediate intraday resistance level. A sustainable
move above this mark may push indices higher to test
17343 - 17467 / 5267 - 5300 levels. On the
downside,
17034
/
5159 now remains crucial
support for the markets.
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Daily Technical Report
July 19, 2012
Bank Nifty Outlook - (10607)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, Bank Nifty opened on a flat note and
drifted lower during the first half of trade. However,
during second half buying emerged near the support
level which led the index to close higher. We had
mentioned in our previous report that “RSI
-
Smoothened” oscillator on the hourly chart is placed
in oversold condition and a pullback cannot be ruled
out. On the upside, the Index now faces resistance at
the 10673 mark. A move beyond this resistance may
lead the Index to rise further to 10721 - 10782 levels.
On The downside, 10500 may act as support for the
coming trading sessions.
Actionable points:
View
Bullish Above 10673
Expected targets
10721 - 10782
Support Level
10500
Source: Falcon
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Daily Technical Report
July 19, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,976
17,081
17,143
17,247
17,310
NIFTY
5,149
5,183
5,203
5,236
5,257
BANKNIFTY
10,448
10,527
10,578
10,658
10,709
ACC
1,225
1,246
1,264
1,285
1,303
AMBUJACEM
165
168
170
172
174
ASIANPAINT
3,582
3,624
3,651
3,693
3,720
AXISBANK
1,015
1,027
1,034
1,046
1,053
BAJAJ-AUTO
1,390
1,456
1,490
1,556
1,590
BANKBARODA
701
708
720
728
740
BHARTIARTL
311
318
322
329
333
BHEL
218
224
227
233
237
BPCL
371
374
378
381
385
CAIRN
311
313
315
317
319
CIPLA
324
327
331
334
338
COALINDIA
353
357
359
363
366
DLF
198
202
204
208
211
DRREDDY
1,630
1,651
1,683
1,704
1,736
GAIL
349
352
355
358
361
GRASIM
2,549
2,588
2,616
2,656
2,684
HCLTECH
465
471
477
483
489
HDFC
680
684
686
689
692
HDFCBANK
577
582
585
590
594
HEROMOTOCO
2,035
2,075
2,099
2,139
2,163
HINDALCO
117
119
120
121
123
HINDUNILVR
441
444
446
448
450
ICICIBANK
916
928
935
946
954
IDFC
132
134
136
138
140
INFY
2,151
2,165
2,177
2,191
2,203
ITC
252
254
255
257
258
JINDALSTEL
407
417
423
432
438
JPASSOCIAT
75
76
76
77
78
KOTAKBANK
580
587
592
599
605
LT
1,349
1,375
1,390
1,416
1,431
M&M
686
698
705
716
724
MARUTI
1,172
1,199
1,214
1,241
1,256
NTPC
155
156
157
158
160
ONGC
281
283
286
288
291
PNB
812
822
840
850
868
POWERGRID
110
110
112
112
113
RANBAXY
480
484
491
495
502
RELIANCE
707
711
717
721
726
RELINFRA
501
515
524
538
547
SAIL
91
92
93
94
95
SBIN
2,143
2,164
2,183
2,205
2,224
SESAGOA
184
187
190
193
196
SIEMENS
676
681
685
689
694
STER
100
102
103
105
106
SUNPHARMA
620
624
628
631
636
TATAMOTORS
216
219
221
224
227
TATAPOWER
94
96
98
100
102
TATASTEEL
400
406
410
416
419
TCS
1,167
1,181
1,193
1,207
1,219
WIPRO
361
363
365
367
369
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Daily Technical Report
July 19, 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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