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Daily Technical Report: Sensex (16222) / NIFTY (4921)

Daily Technical Report May 25, 2012 Sensex (16222) / NIFTY (4921) Yesterday, markets opened marginally higher and traded with extreme optimism after crossing Wednesday’s high of 4854. Strong positive momentum during the latter part of the session led indices to close at the highest point of the day. On sectoral front, Consumer Durables, Banking, Oil & Gas, Teck and Metal counters contributed heavily in yesterday’s rally. There was no sector in the negative territory. The advance to decline rati

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600 views

Daily Technical Report: Sensex (16222) / NIFTY (4921)

Daily Technical Report May 25, 2012 Sensex (16222) / NIFTY (4921) Yesterday, markets opened marginally higher and traded with extreme optimism after crossing Wednesday’s high of 4854. Strong positive momentum during the latter part of the session led indices to close at the highest point of the day. On sectoral front, Consumer Durables, Banking, Oil & Gas, Teck and Metal counters contributed heavily in yesterday’s rally. There was no sector in the negative territory. The advance to decline rati

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Angel Broking
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Download as PDF, TXT or read online on Scribd
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Daily Technical Report

May 25, 2012

Sensex (16222) / NIFTY (4921)


Yesterday, markets opened marginally higher and traded with extreme optimism after crossing Wednesdays high of 4854. Strong positive momentum during the latter part of the session led indices to close at the highest point of the day. On sectoral front, Consumer Durables, Banking, Oil & Gas, Teck and Metal counters contributed heavily in yesterdays rally. There was no sector in the negative territory. The advance to decline ratio was strongly in favor of advancing counters (A=1544 D=1140) (Source www.bseindia.com) Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16837 / 5079 and 16452 / 4986, respectively. Indices have now tested the 15860 / 4766 level, which is the 78.6% Fibonacci Retracement level of the rise from 15135 / 4531 (Low on December 23, 2011) to 18524 / 5630 (High on February 22, 2012). The daily RSI Smoothened oscillator is signaling a positive crossover. The candlestick pattern on the weekly and the daily chart represents a bullish Hammer.

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Expected Targets Support Levels Positive above 4957 4986 - 5040 4800 4759

Trading strategy: After a mixed session on Wednesday, we witnessed a flat opening during yesterday's session. As mentioned in our previous report, once indices crossed Wednesdays high of 4854 the positive impact of bullish hammer was seen for the rest of the session. We have been mentioning the extreme oversold condition of daily "RSI-Smoothened" oscillator. This technical tool has now signaled a positive crossover. Hence, if indices break 16391 / 4957 level, then we are likely to witness enhanced buying interest among market participants. As a result, indices may rally higher to test 16452 - 16672 / 4986 - 5040 levels. Conversely, last Fridays low of 15809 / 4789 remains to be a decent support in coming trading sessions.

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Daily Technical Report


May 25, 2012

Bank Nifty Outlook - (9438)


Yesterday, Bank Nifty opened on an optimistic note and gained strength as the day progressed to close near the highest point of the day. As mentioned in our previous report we witnessed high volatility during yesterdays session. The momentum oscillators on the daily chart continue with their buy signal. Going forward a move above yesterdays high will push the index towards the strong resistance zone of 9525 9605. On the downside 9270 9108 levels are likely to act as support in coming trading session. Actionable points:
View Resistance Levels Support Levels Neutral 9525 9605 9270 9108

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

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Daily Technical Report


May 25, 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 15,819 4,793 9,102 1,099 135 3,632 950 1,435 633 272 202 697 307 306 302 178 1,631 315 2,327 475 633 478 1,776 106 417 779 117 2,285 229 442 57 521 1,128 625 1,103 138 244 699 101 491 680 426 88 1,907 172 659 93 552 253 84 386 1,197 375 S1 16,021 4,857 9,270 1,127 138 3,691 974 1,468 658 285 205 712 312 308 306 181 1,669 320 2,361 480 648 489 1,799 108 421 800 121 2,333 231 455 58 533 1,148 639 1,124 140 251 712 103 508 688 440 89 1,936 176 671 94 561 260 87 393 1,209 384 PIVOT 16,136 4,894 9,367 1,145 140 3,725 987 1,488 675 293 209 736 318 310 309 185 1,693 327 2,385 485 658 496 1,817 110 425 813 123 2,361 233 464 60 541 1,162 648 1,136 142 255 720 105 518 694 448 91 1,955 179 678 95 569 264 88 398 1,219 389 R1 16,338 4,959 9,535 1,173 144 3,784 1,011 1,521 701 306 212 750 323 312 313 188 1,731 332 2,419 490 673 507 1,839 112 428 834 127 2,409 235 477 61 553 1,182 662 1,157 144 262 733 107 536 702 463 92 1,985 182 689 97 578 271 91 404 1,231 397 R2 16,454 4,996 9,632 1,191 146 3,818 1,024 1,541 718 314 215 774 329 314 316 191 1,755 340 2,443 495 683 514 1,858 114 432 847 129 2,437 237 485 63 560 1,195 671 1,170 145 266 742 108 546 708 471 93 2,004 185 697 98 586 275 93 409 1,241 402

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Daily Technical Report


May 25, 2012
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com

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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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