Daily Technical Report
April 30, 2012
Sensex (17187) / NIFTY (5209)
Exhibit 1: Nifty Daily Chart
On Friday, our benchmark indices opened on a flat
note and traded with negative bias in the first half.
However, positive results posted by ICICI bank lead
the indices to close near the initial opening level. On
sectoral front, Consumer Durables, IT and TECK
counters were among the major gainers, whereas
PSU, FMCG and Metal counters ended on the losing
side. The advance to decline ratio was in marginally
favor of declining counters (A=1023 D=1113)
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 17100 / 5135 and 17400 /
Source: Falcon
5250, respectively.
The ‘20-Week EMA’ is placed at 17200 / 5200
level.
We are witnessing a ‘Downward Sloping Trend
Line’ resistance around 17400 / 5250 level.
Trading strategy:
Actionable points:
View
Neutral
We continue to mention the trading range of 17530
Resistance Levels
5236 - 5311
to 16920 / 5345 to 5135 as stated in the last couple
Support Levels
5135
of reports. We witnessed a lack luster week in spite of
derivative expiry. This indicates market participants
Thus we may see increase in buying interest among
are reluctant to create fresh positions. This is also
market participants and indices may then rally
reflected by a cluster of narrow range body
towards 17531 - 16664 / 5343 - 5441. A breach of
formations on daily chart. Going forward, the ‘200-
16920
/
5135 may intensify pessimism among
day SMA’ holds key support for the markets. If the
traders and indices are likely to then slide towards the
markets are to move higher, then a base formation
next support levels of 16828 - 16600 / 5076 - 5000.
near this important support level of 16920 / 5135 is
extremely crucial. On the upside, the immediate
resistance is seen around the ’20-day EMA’ placed at
17250
/
5250, which also coincides with the
‘Downward Sloping Trend Line’ (Refer Exhibit 1). A
sustainable move beyond this mark would confirm a
breakout from the mentioned trend line resistance.
1
Daily Technical Report
April 30, 2012
Bank Nifty Outlook - (10213)
Exhibit 2: Bank Nifty Daily Chart
On Friday, for the third consecutive session Bank Nifty
opened on a flat note in line with our benchmark
indices and traded in a narrow range throughout the
session. We are witnessing a “Doji” candle stick
pattern on the daily chart which is a sign of
indecisiveness prevailing at current levels. The
negative crossover in “RSI - Smoothened” momentum
oscillator on the daily chart mentioned in our previous
report is still intact. On the contrary we are witnessing
a positive crossover in “RSI - Smoothened” on the
hourly chart and possibility of a bounce back cannot
be ruled out. On the upside 10280 - 10345 levels
are likely to act as resistance whereas 10029 - 9985
levels may act as support in the coming trading
Source: Falcon
sessions.
Actionable points:
Positive Bias:
View
Neutral
Stock
Positive Expected
CMP
Remarks
Name
Above
Target
Resistance Levels
10280 -10345
View will be
Support Levels
10029 - 9985
Pantaloon
171.6
173
180 negated below
166.5
2
Daily Technical Report
April 30, 2012
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
17,134
16,913
17,024
17,133
17,244
NIFTY
5,191
5,121
5,156
5,189
5,224
BANKNIFTY
10,149
9,923
10,036
10,142
10,255
ACC
1,195
1,159
1,177
1,207
1,225
AMBUJACEM
149
145
147
150
152
AXISBANK
1,104
1,076
1,090
1,103
1,117
BAJAJ-AUTO
1,582
1,545
1,564
1,599
1,618
BHARTIARTL
307
298
303
308
313
BHEL
228
222
225
230
233
BPCL
663
653
658
665
670
CAIRN
336
329
332
338
341
CIPLA
311
304
307
310
313
COALINDIA
351
342
347
352
357
DLF
182
171
176
180
186
DRREDDY
1,781
1,749
1,765
1,777
1,794
GAIL
328
321
325
328
331
HCLTECH
511
496
503
508
516
HDFC
674
666
670
675
679
HDFCBANK
541
529
535
540
547
HEROMOTOCO
2,175
2,125
2,150
2,178
2,203
HINDALCO
119
115
117
118
120
HINDUNILVR
415
410
413
415
418
ICICIBANK
861
825
843
859
877
IDFC
117
111
114
118
121
INFY
2,391
2,338
2,365
2,381
2,408
ITC
246
240
243
248
251
JINDALSTEL
481
462
471
485
494
JPASSOCIAT
72
69
71
72
74
KOTAKBANK
583
566
574
583
591
LT
1,220
1,185
1,203
1,221
1,238
M&M
713
697
705
713
721
MARUTI
1,383
1,367
1,375
1,382
1,389
NTPC
162
160
161
162
163
ONGC
263
257
260
263
266
PNB
834
808
821
840
854
POWERGRID
108
106
107
109
110
RANBAXY
500
489
494
499
505
RCOM
74
71
73
75
77
RELIANCE
742
731
737
742
747
RELINFRA
511
492
501
513
523
RPOWER
101
97
99
101
103
SAIL
95
91
93
96
98
SBIN
2,126
2,064
2,095
2,132
2,162
SESAGOA
184
177
180
185
188
SIEMENS
786
762
774
787
799
STER
104
101
102
105
107
SUNPHARMA
599
581
590
596
605
SUZLON
21
20
21
22
22
TATAMOTORS
313
305
309
311
315
TATAPOWER
104
101
102
103
105
TATASTEEL
461
447
454
461
468
TCS
1,204
1,180
1,192
1,202
1,214
WIPRO
406
399
402
406
409
3
Daily Technical Report
April 30, 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
Angel Broking Pvt. Ltd.
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