Daily Technical Report
June 29, 2012
Exhibit 1: Nifty Daily Chart
Sensex (16991) / NIFTY (5149)
Yet another trading session of the week opened on a
flat note and despite being a derivative expiry session,
we witnessed an extremely range bound trading
session. Eventually, markets closed near the
5150
mark. On sectoral front, FMCG, Power and PSU
stayed firm during yesterday’s session; whereas Oil &
Gas and Banking sectors ended with a nominal loss.
The advance to decline ratio was marginally in favor
of advancing counters (A=1461 D=1312) (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
22, 2012 - April 19, 2012 and low of March 7,
Actionable points:
2012.
View
Bullish Above 5165
The positive crossover in weekly ‘RSI’ momentum
oscillator and weekly ‘3 & 8 EMA’ is still intact.
Expected Target
5190- 5225 - 5280
Also, the weekly ‘RSI-Smoothened’ is now
Support Levels
5125 - 5093
positively poised.
Trading strategy:
Yesterday, even on a derivative expiry session, we
witnessed lackluster activity and our benchmark
indices are still in the trading range of 16800 -
17131 / 5090 - 5195. Hence, our view remains
unchanged. Only a sustainable move outside this
trading range would dictate a clear direction of the
trend. Within the range, on the upside 17030 -
17131 / 5160 - 5195 levels are likely to act as
immediate intraday resistance in coming trading
session. However, the crucial support remains at
16799 / 5093. A sustainable move below this level
may reinforce selling pressure and indices may then
correct towards 16553 - 16636 / 5041 - 5015
levels.
1
Daily Technical Report
June 29, 2012
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (10004)
Yesterday, Bank Nifty opened on a flat note 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 as the
range of
9760
-
10230 is still intact. Only a
sustainable move outside the said range will dictate a
clear direction of the trend.
For the second
consecutive we are witnessing a narrow range body
formation, which indicates indecisiveness prevailing at
current levels. Within the mentioned range 10055 -
10110 are likely to act as resistance and 9900 -
9870 levels are 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
10055 - 10110
Support Levels
9900 - 9870
Source: Falcon
2
Daily Technical Report
June 29, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
16,866
16,928
16,981
17,043
17,096
NIFTY
5,111
5,130
5,145
5,164
5,178
BANKNIFTY
9,900
9,952
10,002
10,054
10,104
ACC
1,194
1,209
1,218
1,233
1,243
AMBUJACEM
167
170
173
176
179
ASIANPAINT
3,689
3,719
3,768
3,798
3,847
AXISBANK
956
967
979
990
1,002
BAJAJ-AUTO
1,532
1,541
1,554
1,563
1,576
BANKBARODA
709
715
720
726
731
BHARTIARTL
300
302
304
306
309
BHEL
218
219
221
223
225
BPCL
734
743
750
759
766
CAIRN
323
325
327
329
331
CIPLA
304
306
308
310
312
COALINDIA
339
344
346
351
353
DLF
190
192
194
196
198
DRREDDY
1,589
1,600
1,611
1,622
1,633
GAIL
332
339
348
355
365
GRASIM
2,527
2,551
2,575
2,599
2,623
HCLTECH
446
453
462
468
477
HDFC
638
641
645
649
653
HDFCBANK
539
544
548
553
558
HEROMOTOCO
2,016
2,052
2,075
2,111
2,134
HINDALCO
112
114
116
117
120
HINDUNILVR
447
449
452
454
457
ICICIBANK
842
850
860
867
877
IDFC
130
131
133
134
136
INFY
2,424
2,449
2,473
2,497
2,522
ITC
245
248
250
254
256
JINDALSTEL
425
429
432
436
439
JPASSOCIAT
69
70
71
72
73
KOTAKBANK
563
570
575
581
586
LT
1,323
1,333
1,347
1,358
1,372
M&M
676
684
693
700
709
MARUTI
1,099
1,110
1,121
1,132
1,143
NTPC
153
156
157
159
160
ONGC
274
276
278
280
281
PNB
778
783
787
792
796
POWERGRID
108
109
110
111
112
RANBAXY
481
484
488
492
496
RELIANCE
710
715
721
726
733
RELINFRA
518
527
538
547
557
SAIL
87
88
88
89
90
SBIN
2,049
2,073
2,099
2,124
2,149
SESAGOA
178
182
188
192
198
SIEMENS
700
708
715
722
729
STER
95
96
99
100
103
SUNPHARMA
606
611
618
623
630
TATAMOTORS
229
235
238
244
248
TATAPOWER
97
98
99
100
100
TATASTEEL
416
422
427
433
438
TCS
1,225
1,242
1,253
1,270
1,281
WIPRO
395
397
398
400
402
3
Daily Technical Report
June 29, 2012
Research Team Tel: 022 - 39357800
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavours to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or
other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in
the past.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Limited and its affiliates may have
investment positions in the stocks recommended in this report.
Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
Mehul Kothari
-
Technical Analyst
Ankur Lakhotia
-
Technical Analyst
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600
Sebi Registration No: INB 010996539
4
