Daily Technical Report
May 25, 2012
Sensex (16222) / NIFTY (4921)
Exhibit 1: Nifty Daily Chart
Yesterday, markets opened marginally higher and
traded with extreme optimism after crossing
Wednesday’s high of
4854. Strong positive
momentum during the latter part of the session led
indices to close at the highest point of the day. On
sectoral front, Consumer Durables, Banking, Oil &
Gas, Teck and Metal counters contributed heavily in
yesterday’s rally. There was no sector in the negative
territory. The advance to decline ratio was strongly in
favor of advancing counters (A=1544 D=1140)
(Source -www.bseindia.com)
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 16837 / 5079 and 16452 /
4986, respectively.
Indices have now tested the 15860 / 4766 level,
Source: Falcon
which is the 78.6% Fibonacci Retracement level
of the rise from
15135
/
4531 (Low on
December 23, 2011) to 18524 / 5630 (High on
February 22, 2012).
Actionable points:
The daily ‘RSI
- Smoothened’ oscillator is
View
Positive above 4957
signaling a positive crossover.
Expected Targets
4986 - 5040
The candlestick pattern on the weekly and the
Support Levels
4800 - 4759
daily chart represents a bullish “Hammer”.
Trading strategy:
After a mixed session on Wednesday, we witnessed a
flat opening during yesterday's session. As mentioned
in our previous report, once indices crossed
Wednesday’s high of 4854 the positive impact of
bullish hammer was seen for the rest of the session.
We have been mentioning the extreme oversold
condition of daily "RSI-Smoothened" oscillator. This
technical tool has now signaled a positive crossover.
Hence, if indices break 16391 / 4957 level, then we
are likely to witness enhanced buying interest among
market participants. As a result, indices may rally
higher to test 16452 - 16672 / 4986 - 5040 levels.
Conversely, last Friday’s low of
15809
/
4789
remains to be a decent support in coming trading
sessions.
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Daily Technical Report
May 25, 2012
Bank Nifty Outlook - (9438)
Yesterday, Bank Nifty opened on an optimistic note
Exhibit 2: Bank Nifty Daily Chart
and gained strength as the day progressed to close
near the highest point of the day. As mentioned in our
previous report we witnessed high volatility during
yesterday’s session. The momentum oscillators on the
daily chart continue with their buy signal. Going
forward a move above yesterday’s high will push the
index towards the strong resistance zone of 9525 -
9605. On the downside 9270 - 9108 levels are likely
to act as support in coming trading session.
Actionable points:
View
Neutral
Resistance Levels
9525 - 9605
Support Levels
9270 - 9108
Source: Falcon
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Daily Technical Report
May 25, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
15,819
16,021
16,136
16,338
16,454
NIFTY
4,793
4,857
4,894
4,959
4,996
BANKNIFTY
9,102
9,270
9,367
9,535
9,632
ACC
1,099
1,127
1,145
1,173
1,191
AMBUJACEM
135
138
140
144
146
ASIANPAINT
3,632
3,691
3,725
3,784
3,818
AXISBANK
950
974
987
1,011
1,024
BAJAJ-AUTO
1,435
1,468
1,488
1,521
1,541
BANKBARODA
633
658
675
701
718
BHARTIARTL
272
285
293
306
314
BHEL
202
205
209
212
215
BPCL
697
712
736
750
774
CAIRN
307
312
318
323
329
CIPLA
306
308
310
312
314
COALINDIA
302
306
309
313
316
DLF
178
181
185
188
191
DRREDDY
1,631
1,669
1,693
1,731
1,755
GAIL
315
320
327
332
340
GRASIM
2,327
2,361
2,385
2,419
2,443
HCLTECH
475
480
485
490
495
HDFC
633
648
658
673
683
HDFCBANK
478
489
496
507
514
HEROMOTOCO
1,776
1,799
1,817
1,839
1,858
HINDALCO
106
108
110
112
114
HINDUNILVR
417
421
425
428
432
ICICIBANK
779
800
813
834
847
IDFC
117
121
123
127
129
INFY
2,285
2,333
2,361
2,409
2,437
ITC
229
231
233
235
237
JINDALSTEL
442
455
464
477
485
JPASSOCIAT
57
58
60
61
63
KOTAKBANK
521
533
541
553
560
LT
1,128
1,148
1,162
1,182
1,195
M&M
625
639
648
662
671
MARUTI
1,103
1,124
1,136
1,157
1,170
NTPC
138
140
142
144
145
ONGC
244
251
255
262
266
PNB
699
712
720
733
742
POWERGRID
101
103
105
107
108
RANBAXY
491
508
518
536
546
RELIANCE
680
688
694
702
708
RELINFRA
426
440
448
463
471
SAIL
88
89
91
92
93
SBIN
1,907
1,936
1,955
1,985
2,004
SESAGOA
172
176
179
182
185
SIEMENS
659
671
678
689
697
STER
93
94
95
97
98
SUNPHARMA
552
561
569
578
586
TATAMOTORS
253
260
264
271
275
TATAPOWER
84
87
88
91
93
TATASTEEL
386
393
398
404
409
TCS
1,197
1,209
1,219
1,231
1,241
WIPRO
375
384
389
397
402
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Daily Technical Report
May 25, 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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