Daily Technical Report
June 28, 2012
Sensex (16968) / NIFTY (5142)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark indices opened marginally
higher on the back of positive cues from some Asian
bourses. Subsequently, indices moved in a narrow
range throughout the session to eventually close
marginally in the green. On sectoral front, Oil & Gas,
Power and PSU stocks bounced during yesterday’s
session; whereas Consumer Durables and FMCG
sectors remained under pressure. The advance to
decline ratio was marginally in favor of advancing
counters
(A=1380
D=1346 (Source
-
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 16803 / 5075 and 16691 /
5061, respectively.
The ‘20-Week EMA’ is placed at 16854 / 5108
level.
On the daily chart, indices are trading well
above the upper range of ‘Downward Sloping
Source: Falcon
Channel’ drawn by joining two highs of February
Actionable points:
22, 2012 - April 19, 2012 and low of March 7,
2012.
View
Bullish Above 5160
The positive crossover in weekly ‘RSI’ momentum
oscillator and weekly ‘3 & 8 EMA’ is still intact.
Expected Target
5195
Also, the weekly ‘RSI-Smoothened’ is now
Support Levels
5093 - 5041 - 5015
positively poised.
Today’s session is likely to trade with some volatility
Trading strategy:
and choppiness due to June series derivatives expiry.
Hence, traders are advised to trade with cautious
In-line with other global indices, our markets too
approach.
opened marginally higher and traded with positive
bias throughout the session; the movement witnessed
was extremely lackluster although overall volumes
surged on account of derivative expiry. Our view
remains unchanged as the trading range is still intact.
The crucial support remains at 16799 / 5093. Only a
sustainable move below this level may reinforce
selling pressure and indices may then correct towards
16553 - 16636 / 5041 - 5015 levels. On the upside,
17030 - 17131 / 5160 - 5195 levels are likely to act
as immediate intraday resistance in coming trading
session.
1
Daily Technical Report
June 28, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (10018)
Yesterday, Bank Nifty opened with an upside gap in
line with our benchmark indices and traded in a
narrow range throughout the session. There is no
significant change in the chart formation for Bank
Nifty except for the formation of a “Doji” candlestick
pattern, which represents the indecisiveness prevailing
at current levels. Hence, we reiterate our view that the
index is likely to trade in the range of 9760 - 10230.
Only a sustainable move outside the said range will
dictate a clear direction of the trend. Within the
mentioned range 10130 - 10170 is likely to act as
resistance and 9873 - 9800 is likely to act as support
in coming trading session. Positional traders holding
long positions can hold with a stop loss of 9800 level
(Closing basis) on Bank Nifty spot.
Actionable points:
View
Neutral
Resistance Levels
10080 - 10130
Support Levels
9873 - 9800
Source: Falcon
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Daily Technical Report
June 28, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,877
16,923
16,976
17,021
17,074
NIFTY
5,113
5,127
5,144
5,158
5,175
BANKNIFTY
9,918
9,968
10,039
10,089
10,160
ACC
1,187
1,196
1,213
1,222
1,239
AMBUJACEM
167
169
171
172
175
ASIANPAINT
3,743
3,760
3,778
3,795
3,813
AXISBANK
987
994
1,005
1,012
1,023
BAJAJ-AUTO
1,543
1,551
1,560
1,568
1,577
BANKBARODA
709
713
716
720
724
BHARTIARTL
300
303
305
308
310
BHEL
218
219
221
222
223
BPCL
739
745
749
754
759
CAIRN
318
322
328
332
338
CIPLA
303
306
308
311
313
COALINDIA
336
340
342
345
348
DLF
189
191
192
194
195
DRREDDY
1,593
1,601
1,608
1,616
1,623
GAIL
350
352
356
358
362
GRASIM
2,424
2,493
2,591
2,660
2,757
HCLTECH
456
463
467
474
478
HDFC
640
642
645
648
651
HDFCBANK
541
545
550
554
559
HEROMOTOCO
2,028
2,042
2,056
2,070
2,085
HINDALCO
115
116
117
118
119
HINDUNILVR
446
449
452
455
458
ICICIBANK
842
847
855
860
868
IDFC
130
132
134
137
139
INFY
2,437
2,453
2,464
2,479
2,490
ITC
246
247
248
249
251
JINDALSTEL
425
428
431
434
437
JPASSOCIAT
67
68
70
71
72
KOTAKBANK
553
562
573
582
594
LT
1,331
1,339
1,352
1,360
1,373
M&M
677
685
693
701
709
MARUTI
1,103
1,112
1,118
1,127
1,133
NTPC
153
154
155
156
158
ONGC
271
274
276
280
282
PNB
775
780
785
790
795
POWERGRID
108
109
110
111
112
RANBAXY
481
484
488
491
495
RELIANCE
712
717
723
729
735
RELINFRA
535
540
546
551
557
SAIL
87
88
89
89
90
SBIN
2,083
2,098
2,118
2,133
2,153
SESAGOA
183
187
190
194
197
SIEMENS
697
702
710
715
723
STER
97
99
99
101
101
SUNPHARMA
611
617
622
628
633
TATAMOTORS
231
235
242
246
253
TATAPOWER
96
97
98
99
101
TATASTEEL
408
415
418
424
428
TCS
1,225
1,236
1,247
1,258
1,270
WIPRO
394
397
401
403
407
3
Daily Technical Report
June 28, 2012
Research Team Tel: 022 - 39357800
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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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