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Daily Technical Report, 17.05.2013

The daily technical report provided an overview of the movement of key indices like Sensex and Nifty on the previous day. It noted that while the indices opened lower, they recovered from the lows and oscillated within a narrow range for most of the session. Certain sectors like Realty, Oil & Gas and Healthcare saw gains, while FMCG, IT and other stocks declined. The report also examined charts of Nifty and Bank Nifty to identify support and resistance levels and provided trading strategies, maintaining a positive outlook on the indices.

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273 views

Daily Technical Report, 17.05.2013

The daily technical report provided an overview of the movement of key indices like Sensex and Nifty on the previous day. It noted that while the indices opened lower, they recovered from the lows and oscillated within a narrow range for most of the session. Certain sectors like Realty, Oil & Gas and Healthcare saw gains, while FMCG, IT and other stocks declined. The report also examined charts of Nifty and Bank Nifty to identify support and resistance levels and provided trading strategies, maintaining a positive outlook on the indices.

Uploaded by

Angel Broking
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We take content rights seriously. If you suspect this is your content, claim it here.
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Daily Technical Report

May 17, 2013

Sensex (20247) / NIFTY (6170)


Yesterday, our benchmark indices opened slightly lower inline with subdued global cues. However, indices managed to recover from the lows immediately after the opening tick and then oscillated within a narrow trading range till end of the session. For the day Realty, Oil & Gas and Health Care counters were among the major gainers, whereas FMCG, IT and Teck stocks ended in the red. The advance to decline ratio was in favor of declining counters. (A=1197 D = 1278) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19289/ 5849 and 19667/ 5973 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19278/ 5843 and 18894 / 5730, respectively.
Source: Falcon:

Trading strategy:
Wednesdays humongous rally was followed by a range bound session. However, the bias remained positive throughout the session. There is no major change in the price structure. Hence, we continue to expect that the market may move higher towards 20438 - 20700 / 6200 - 6280 levels in the near term. On the flipside, 20096 / 6116 level would act as an immediate support for our market. Considering the daily chart, we are of the opinion that Tuesday's low of 19652 / 5970 (also coincides with hourly '89 EMA') has now become a strong near term base for our market. Hence, only a violation of this level would result in loss of near term optimism.

Actionable points:
View Expected targets Support Levels Bullish above 6187 6200 - 6280 6116 - 6060

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Daily Technical Report


May 17, 2013

Bank Nifty Outlook - (13239)


Yesterday, Bank Nifty opened on a subdued note in line with our benchmark indices and nearly tested its life time high of 13300 during the initial part of the session. Considering the present placement of the momentum oscillators, we reiterate our view that some consolidation in the index is likely to take place in the coming sessions. However a close above 13300 will attract fresh buying and may lead the index higher towards 13360 13467 levels. On the downside 13200 13099 levels are likely to act as support for the day. Actionable points:

Exhibit 2: Bank Nifty Daily Chart

View Resistance Levels Support Levels

Neutral 13300 - 13360 13200 13099 Source: Falcon:

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Daily Technical Report


May 17, 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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 20,081 6,103 12,922 1,220 184 4,748 1,486 1,739 712 316 189 405 293 403 294 237 2,053 330 2,987 727 896 706 1,660 105 580 1,170 155 502 2,289 327 301 73 754 1,552 748 960 1,706 121 154 327 798 112 458 805 403 2,343 160 953 298 92 304 1,435 1,952 S1 20,164 6,136 13,081 1,235 185 4,805 1,508 1,773 720 319 191 414 295 412 297 240 2,086 334 3,037 733 902 715 1,677 108 581 1,189 159 513 2,311 332 305 77 766 1,572 777 973 1,717 123 155 332 807 113 467 823 410 2,381 164 961 301 93 308 1,445 1,977 PIVOT 20,245 6,162 13,181 1,245 187 4,857 1,524 1,828 732 323 193 421 298 419 300 244 2,115 340 3,083 741 910 719 1,697 110 584 1,204 162 520 2,335 338 310 79 774 1,589 794 985 1,733 126 157 339 821 114 472 833 417 2,410 166 971 305 93 311 1,457 1,993 R1 20,329 6,195 13,340 1,260 188 4,914 1,547 1,862 740 326 195 429 300 428 302 247 2,148 344 3,133 747 916 728 1,714 113 585 1,223 166 531 2,357 343 313 82 786 1,609 824 998 1,745 127 158 344 831 115 481 851 424 2,448 171 979 308 94 315 1,466 2,018 R2 20,410 6,221 13,441 1,270 189 4,966 1,563 1,917 752 331 197 437 304 435 305 250 2,177 351 3,179 755 924 732 1,734 116 587 1,238 169 538 2,382 349 318 84 793 1,625 841 1,010 1,761 130 160 351 844 116 486 862 431 2,477 173 990 312 95 318 1,478 2,033

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Daily Technical Report


May 17, 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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