Daily Technical Report
July 25, 2012
Exhibit 1: Nifty Daily Chart
Sensex (16918) / NIFTY (5128)
Yesterday, our markets opened on a flat note in-line
with other Asian markets and subsequently traded in
a narrow range to close marginally in the positive
territory. On the sectoral front, FMCG, Consumer
Durables and Oil & Gas counters bounced back
during yesterday’s session; whereas Capital Goods, IT
and Teck sectors remained under pressure. The
advance to decline ratio was marginally in favor of
declining counters (A=1391 D=1395) (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 /
Source: Falcon
5630 (February 24, 2012).
The ’20-day EMA’ and
’20-week EMA’ are
Actionable points:
placed at 17200 / 5218 and 17000 / 5155
level, respectively.
View
Neutral
Resistance
5164 - 5197
Support Levels
5098 - 5041
Trading strategy:
Despite extreme negative overnight cues from
European and US markets, our markets opened on a
quiet note and traded sideways throughout the
session. As expected, ‘200-day SMA’ provided decent
support for the markets during yesterday’s session.
Going forward, we continue to mention 16808 /
5098 level as an important support level for the
markets. If indices sustain below this level then they
may slide further down to test 16636 / 5041. On the
upside, Monday’s high of 17048 / 5164 remains to
be a strong immediate resistance in coming trading
session. Only a sustainable move above this level
may lead to some upside and then indices may move
upwards to test 17142 - 17205 / 5197 - 5219 level.
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Daily Technical Report
July 25, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (10299)
Yesterday, Bank Nifty opened on a flat note and
traded in a narrow range throughout the session. We
had mentioned in our previous report that the
momentum oscillators on the hourly chart are placed
in oversold conditions and a bounce back in the index
is likely. We are now witnessing a negative crossover
in “5 & 20 EMA” on the daily chart which is a cause
of concern. On the flip side we are witnessing a
“Bullish Harami” candlestick pattern. This pattern
needs confirmation in the form of a close above the
10350
mark. Considering these technical
observations we expect the coming trading session to
be volatile. On the upside 10423 - 10473 levels are
likely to act as resistance and on the downside 10200
- 10160 levels are likely to act as support for the day.
Actionable points:
View
Neutral
Resistance Levels
10423 - 10473
Source: Falcon
Support Level
10200 - 10160
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Daily Technical Report
July 25, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,784
16,851
16,907
16,974
17,030
NIFTY
5,084
5,106
5,125
5,147
5,166
BANKNIFTY
10,183
10,241
10,295
10,353
10,407
ACC
1,241
1,255
1,266
1,281
1,292
AMBUJACEM
165
166
169
171
173
ASIANPAINT
3,506
3,536
3,581
3,612
3,657
AXISBANK
1,024
1,033
1,039
1,048
1,054
BAJAJ-AUTO
1,534
1,547
1,563
1,576
1,592
BANKBARODA
675
681
686
692
697
BHARTIARTL
297
303
306
312
315
BHEL
213
215
218
220
223
BPCL
365
368
374
377
383
CAIRN
317
320
324
327
331
CIPLA
321
324
327
329
333
COALINDIA
351
353
356
358
360
DLF
194
198
200
203
206
DRREDDY
1,588
1,608
1,623
1,643
1,658
GAIL
334
339
342
346
350
GRASIM
2,559
2,584
2,625
2,650
2,690
HCLTECH
468
474
478
485
489
HDFC
669
672
675
677
681
HDFCBANK
567
570
574
578
581
HEROMOTOCO
2,004
2,020
2,042
2,057
2,080
HINDALCO
114
116
117
118
119
HINDUNILVR
441
458
468
486
496
ICICIBANK
904
910
916
922
928
IDFC
128
129
131
133
135
INFY
2,135
2,152
2,182
2,199
2,229
ITC
247
248
250
252
254
JINDALSTEL
408
411
416
419
424
JPASSOCIAT
71
73
74
75
76
KOTAKBANK
532
538
548
555
565
LT
1,325
1,340
1,366
1,381
1,406
M&M
673
679
690
696
706
MARUTI
1,070
1,088
1,104
1,122
1,137
NTPC
151
152
153
154
155
ONGC
278
281
284
288
291
PNB
798
802
808
813
818
POWERGRID
107
109
111
113
114
RANBAXY
471
480
485
494
500
RELIANCE
715
720
723
728
732
RELINFRA
499
504
510
515
521
SAIL
87
88
90
91
93
SBIN
2,062
2,079
2,097
2,113
2,131
SESAGOA
180
183
185
188
190
SIEMENS
658
663
667
672
676
STER
99
100
102
103
105
SUNPHARMA
599
604
611
616
623
TATAMOTORS
211
214
216
218
220
TATAPOWER
95
96
97
98
99
TATASTEEL
389
393
398
402
406
TCS
1,187
1,198
1,208
1,220
1,230
WIPRO
334
340
347
352
359
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Daily Technical Report
July 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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