Daily Technical Report
June 26, 2013
Exhibit 1: Nifty Hourly Chart
Sensex (18629) / NIFTY (5609)
Yesterday, markets opened marginally higher neglecting
negative cues for other major Asian bourses. During the
midsession, indices rallied gradually to post a high of 18801
/ 5666. However, we witnessed massive selling pressure
near day’s high, which eventually dragged indices to close
marginally above the opening point of the day. The Oil &
Gas, Capital Goods and FMCG counters ended with modest
gains; whereas the Power, Consumer Durable and Health
Care sectors remained under pressure throughout the
session. The advance to decline ratio was strongly in favor of
declining counters.
(A=981 D=1313) (Source-
Formation
The ’20-week EMA’ and the ’89-Week EMA’ are placed
at 19230/ 5825 and 18456/ 5585 levels, respectively.
The ’89-day EMA’ and the ‘200-day SMA’ are placed at
Source: Falcon:
19359/ 5866 and 19172 / 5814, respectively.
The weekly ‘RSI-Smoothened’ oscillators, the ‘ADX (9)
Actionable points:
indicator and ‘5 & 20 EMA’ are now signaling a
negative crossover.
View
Neutral
Support Level
5570
Resistance Levels
5666 - 5705
Trading strategy:
Yesterday, indices remained sideways for the initial couple of
hours. As expected, the lower end of the ‘Upward Sloping
Trend Line’ provided decent support for our market. During
the midsession, indices rallied nearly a percent on the back
of positive placement of hourly ‘RSI-Smoothened’ oscillator.
However, we witnessed immense selling near day’s high
which resulted in sharp decline towards the latter part of the
session. The daily chart now depicts a ‘Long Legged Doji’
Japanese candlestick pattern. The said pattern indicates an
uncertainty among the market participants and possibility of
the change in the direction. However, the pattern would be
confirmed only if indices sustain above yesterday’s high of
18801 / 5666. In this scenario, indices may bounce towards
18890 - 19000 / 5705 - 5750 levels. on the flipside, the
said pattern would be negated below the low of 18487 /
5570.
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Daily Technical Report
June 26, 2013
Exhibit 2: Bank Nifty Hourly Chart
Bank Nifty Outlook - (11181)
Unlike our benchmark indices, the Bank Nifty opened on a
quiet note and oscillated within a narrow trading range
throughout the session. During the session, the Bank Nifty
made a valiant attempt to move higher but faced strong
resistance near the hourly ’20 EMA’. As a result, index pared
down all its early gains to close with very minor gain. At this
juncture, the daily chart portrays a ‘Narrow Range’ body
formation, which indicates lack of interest among market
participants. Going forward, if index sustains above
yesterday’s high of 11326, then we may witness an intraday
rally towards 11420 - 11518. Conversely, a breach of
yesterday’s low of 11107 would trigger pessimism in the
market. In this case, the Bank Nifty may slide towards 11000
- 10888.
Actionable points:
View
Neutral
Support Levels
11107 - 11100
Source: Falcon:
Resistance Levels
11326 - 11420
2
Daily Technical Report
June 26, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
18,325
18,477
18,640
18,792
18,955
NIFTY
5,519
5,564
5,615
5,660
5,711
BANKNIFTY
10,987
11,084
11,205
11,302
11,422
ACC
1,144
1,158
1,169
1,183
1,193
AMBUJACEM
175
179
182
186
189
ASIANPAINT
4,229
4,295
4,361
4,428
4,494
AXISBANK
1,185
1,208
1,231
1,254
1,277
BAJAJ-AUTO
1,735
1,767
1,789
1,821
1,842
BANKBARODA
539
553
562
576
585
BHARTIARTL
274
285
291
302
308
BHEL
159
161
164
167
170
BPCL
330
338
345
353
360
CAIRN
265
270
279
284
292
CIPLA
372
376
379
382
385
COALINDIA
285
290
296
300
306
DLF
160
163
167
170
174
DRREDDY
2,062
2,081
2,104
2,123
2,146
GAIL
279
283
286
290
293
GRASIM
2,705
2,749
2,779
2,823
2,853
HCLTECH
732
742
754
764
776
HDFC
796
807
821
832
846
HDFCBANK
610
622
634
646
658
HEROMOTOCO
1,545
1,562
1,581
1,598
1,617
HINDALCO
93
95
97
99
100
HINDUNILVR
578
583
586
591
594
ICICIBANK
1,011
1,022
1,039
1,050
1,068
IDFC
129
131
133
135
138
INDUSINDBK
436
454
467
485
498
INFY
2,327
2,350
2,369
2,392
2,410
ITC
307
313
317
324
328
JINDALSTEL
196
202
208
214
220
JPASSOCIAT
46
49
51
53
55
KOTAKBANK
679
698
712
731
745
LT
1,319
1,343
1,365
1,389
1,411
LUPIN
752
763
781
792
811
M&M
912
935
947
970
982
MARUTI
1,480
1,513
1,535
1,568
1,590
NMDC
96
98
101
103
105
NTPC
133
136
140
142
147
ONGC
294
303
309
317
323
PNB
624
636
651
663
678
POWERGRID
99
101
104
106
109
RANBAXY
285
304
321
341
358
RELIANCE
781
793
806
817
831
RELINFRA
313
322
329
338
345
SBIN
1,871
1,890
1,920
1,938
1,968
SESAGOA
130
132
135
137
139
SUNPHARMA
934
941
950
958
967
TATAMOTORS
267
274
279
287
292
TATAPOWER
77
79
81
82
84
TATASTEEL
258
262
266
270
274
TCS
1,354
1,373
1,400
1,419
1,446
ULTRACEMCO
1,755
1,771
1,791
1,806
1,827
3
Daily Technical Report
June 26, 2013
Research Team Tel: 022 - 30940000
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Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
Sacchitanand Uttekar
-
Technical Analyst
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