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Daily Technical Report, 04.04.2013

- The Sensex and Nifty indices opened flat but closed lower due to selling pressure in large cap stocks. Most sectors ended lower except for healthcare and power. - Technical indicators show the indices are in a downward trend and may test recent low levels if they remain below the previous day's low. Support levels are identified between 5650-5604 for Nifty and 18568-18556 for Sensex. - Bank Nifty also closed lower due to late selling pressure. Momentum oscillators paint a mixed picture, suggesting volatility may rise in the next session. Support for Bank Nifty is seen between 11230-11176.

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189 views

Daily Technical Report, 04.04.2013

- The Sensex and Nifty indices opened flat but closed lower due to selling pressure in large cap stocks. Most sectors ended lower except for healthcare and power. - Technical indicators show the indices are in a downward trend and may test recent low levels if they remain below the previous day's low. Support levels are identified between 5650-5604 for Nifty and 18568-18556 for Sensex. - Bank Nifty also closed lower due to late selling pressure. Momentum oscillators paint a mixed picture, suggesting volatility may rise in the next session. Support for Bank Nifty is seen between 11230-11176.

Uploaded by

Angel Broking
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

April 04, 2013

Sensex (18802) / NIFTY (5673)


Yesterday, once again indices opened on a flat note considering quiet mood across the globe. However, significant selling pressure in the large cap counters during the second half led the indices to close well inside the negative territory. Most of the sectors ended well inside the negative territory except for Health Care and Power counters which ended with marginal gains. The advance to decline ratio was in favor of declining counters (A=1313 D=1449) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19069 / 5759 and 19149 / 5795 levels, respectively. The 200 Day SMA is placed at 18556 / 5627. We are witnessing a Downward Sloping trend line support drawn by joining the lows of December 18, 2012 and March 04, 2013. The daily momentum oscillators viz, the RSI Smoothened is now signaling a positive crossover.

Source: Falcon:

Trading strategy:
Despite, overnight positive cues from European and US indices, our benchmark indices opened in the red. During yesterdays session, we observed that indices were struggling to cross the stiff resistance of daily 20 EMA placed around 19043 / 5760 level mentioned in our earlier report. Eventually, markets slumped in late trades to close nearly 1.5% down on the back of massive selling pressure in major index heavyweights. Going forward, if indices sustain below yesterdays low of 18721 / 5650, then we may witness continuation of yesterdays pessimism. In this scenario indices may test the recent lows of 18568 / 5604 level. On the flipside, Tuesdays high of 19061 / 5754 would now act as strong resistance for the market. Further, the positive crossover in daily RSI-Smoothened oscillator is still intact. The impact of this technical tool would be seen once indices sustain above 19061 / 5754 level.

Actionable points:
View Resistance levels Support levels Neutral 5754 5650 - 5604

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Daily Technical Report


April 04, 2013

Bank Nifty Outlook - (11341)


Yesterday, Bank Nifty opened on a muted note in line with our benchmark indices and subsequently traded in a narrow range during initial part of the session. However, similar to the benchmark indices, selling pressure during the last hour trade led the index to close inside the negative territory. The momentum oscillators on the daily and hourly chart paint mixed picture, hence we believe that volatility is set to rise in coming session. On the downside 11230 11176 levels are likely to act as support whereas 11425 11481 levels are likely to act as resistance for the day. Actionable points:
View Resistance Levels Support Levels Neutral 11425 11481 11230 - 11176

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report


April 04, 2013

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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 18,539 5,594 11,099 1,146 166 4,807 1,244 1,639 651 271 176 369 284 380 294 234 1,824 307 2,729 757 796 613 1,455 87 455 1,002 139 2,920 302 329 66 639 1,330 626 828 1,276 142 301 705 105 440 754 324 2,051 149 511 836 249 91 310 1,506 1,817 441 S1 18,671 5,634 11,221 1,154 169 4,846 1,261 1,666 662 276 180 372 288 385 298 239 1,831 311 2,753 769 804 618 1,476 89 459 1,017 141 2,944 305 337 67 645 1,355 630 836 1,290 144 306 716 106 446 765 334 2,078 151 517 850 253 94 313 1,525 1,834 445 PIVOT 18,853 5,689 11,406 1,165 173 4,880 1,288 1,711 677 284 185 376 293 392 303 249 1,838 317 2,777 788 811 625 1,509 91 465 1,040 145 2,972 307 349 69 652 1,391 636 849 1,309 145 311 734 106 451 782 349 2,117 154 529 864 260 98 319 1,550 1,850 450 R1 18,984 5,729 11,529 1,173 176 4,919 1,306 1,738 688 289 188 379 296 396 307 254 1,845 320 2,801 800 818 630 1,531 93 469 1,054 148 2,996 310 356 70 658 1,416 641 857 1,323 147 316 745 107 457 793 358 2,144 156 535 878 264 100 323 1,569 1,867 454 R2 19,166 5,784 11,713 1,185 180 4,953 1,333 1,784 703 298 193 382 301 403 313 263 1,852 327 2,825 819 825 637 1,564 96 475 1,077 151 3,024 312 368 72 665 1,452 647 870 1,342 149 322 764 107 462 810 373 2,184 160 547 891 271 104 329 1,594 1,883 458

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Daily Technical Report


April 04, 2013
Research Team Tel: 022 - 30940000 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 endeavors 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 Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

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