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Daily Technical Report: Sensex (17185) / NIFTY (5216)

The daily technical report provides an analysis of the Sensex, Nifty, and Bank Nifty stock indices. It notes that the indices closed slightly higher after an initially flat session. Key support and resistance levels are identified, and a bullish outlook is given contingent on the indices moving above defined resistance levels. Downside support levels are also defined. The report concludes by providing daily pivot levels for 50 Nifty stocks to identify trading opportunities.

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39 views

Daily Technical Report: Sensex (17185) / NIFTY (5216)

The daily technical report provides an analysis of the Sensex, Nifty, and Bank Nifty stock indices. It notes that the indices closed slightly higher after an initially flat session. Key support and resistance levels are identified, and a bullish outlook is given contingent on the indices moving above defined resistance levels. Downside support levels are also defined. The report concludes by providing daily pivot levels for 50 Nifty stocks to identify trading opportunities.

Uploaded by

angelbroking
Copyright
© Attribution Non-Commercial (BY-NC)
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Download as PDF, TXT or read online on Scribd
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Daily Technical Report

July 19, 2012

Sensex (17185) / NIFTY (5216)


We witnessed yet another flat opening during yesterdays session on the back of mixed global cues but a minor up move during the second half led indices to close above 5200 mark. On the sectoral front, the buying interest was seen in Metal, Capital Goods and Realty counters; whereas Oil & Gas and Health Care ended with a marginal loss. The advance to decline ratio was marginally in favor of advancing counters (A=1407 D=1372) (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 / 5630 (February 24, 2012). A horizontal consolidation band is observed in the range of 17034 / 5159 and 17635 / 5350. The 20 day EMA is placed at 17200 / 5218 level.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:

View Expected Targets

Bullish above 5223 5247 5267 - 5300 5159

Trading strategy: Yesterday, after a flat opening our benchmark indices drifted lower to test the gap area of (17135 - 17034 / 5189 5159 levels) formed on 29thJune 2012. As expected and mentioned in our previous report, indices found support near the gap area in the later half and witnessed smart recovery from the days low to close above 5200 mark. Going forward, on the upside Mondays high of 17282 / 5247 may act as an immediate intraday resistance level. A sustainable move above this mark may push indices higher to test 17343 17467 / 5267 5300 levels. On the downside, 17034 / 5159 now remains crucial support for the markets.

Support Levels

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Daily Technical Report


July 19, 2012

Bank Nifty Outlook - (10607)


Yesterday, Bank Nifty opened on a flat note and drifted lower during the first half of trade. However, during second half buying emerged near the support level which led the index to close higher. We had mentioned in our previous report that RSI Smoothened oscillator on the hourly chart is placed in oversold condition and a pullback cannot be ruled out. On the upside, the Index now faces resistance at the 10673 mark. A move beyond this resistance may lead the Index to rise further to 10721 10782 levels. On The downside, 10500 may act as support for the coming trading sessions. Actionable points:
View Expected targets Support Level Bullish Above 10673 10721 10782 10500

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report


July 19, 2012 Daily Pivot Levels for Nifty 50 Stocks
SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 16,976 5,149 10,448 1,225 165 3,582 1,015 1,390 701 311 218 371 311 324 353 198 1,630 349 2,549 465 680 577 2,035 117 441 916 132 2,151 252 407 75 580 1,349 686 1,172 155 281 812 110 480 707 501 91 2,143 184 676 100 620 216 94 400 1,167 361 S1 17,081 5,183 10,527 1,246 168 3,624 1,027 1,456 708 318 224 374 313 327 357 202 1,651 352 2,588 471 684 582 2,075 119 444 928 134 2,165 254 417 76 587 1,375 698 1,199 156 283 822 110 484 711 515 92 2,164 187 681 102 624 219 96 406 1,181 363 PIVOT 17,143 5,203 10,578 1,264 170 3,651 1,034 1,490 720 322 227 378 315 331 359 204 1,683 355 2,616 477 686 585 2,099 120 446 935 136 2,177 255 423 76 592 1,390 705 1,214 157 286 840 112 491 717 524 93 2,183 190 685 103 628 221 98 410 1,193 365 R1 17,247 5,236 10,658 1,285 172 3,693 1,046 1,556 728 329 233 381 317 334 363 208 1,704 358 2,656 483 689 590 2,139 121 448 946 138 2,191 257 432 77 599 1,416 716 1,241 158 288 850 112 495 721 538 94 2,205 193 689 105 631 224 100 416 1,207 367 R2 17,310 5,257 10,709 1,303 174 3,720 1,053 1,590 740 333 237 385 319 338 366 211 1,736 361 2,684 489 692 594 2,163 123 450 954 140 2,203 258 438 78 605 1,431 724 1,256 160 291 868 113 502 726 547 95 2,224 196 694 106 636 227 102 419 1,219 369

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Daily Technical Report


July 19, 2012
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com

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 Sameet Chavan Sacchitanand Uttekar Mehul Kothari Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst Technical Analyst

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