Scribd
Upload
378 views

Daily Technical Report: Sensex (16649) / NIFTY (5050)

Daily Technical Report June 08, 2012 Sensex (16649) / NIFTY (5050) After a sharp rally on Wednesday's session, we witnessed a gap up opening for the markets. This was mainly on the back of strong positive cues from global bourses. Subsequently, indices remained in a narrow range throughout the day and closed at 5050 mark. On sectoral front, Realty, Banking and Auto counters rallied significantly during yesterday’s session; whereas Consumer Durables sector ended with a nominal loss. The advance

Uploaded by

Angel Broking
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
378 views

Daily Technical Report: Sensex (16649) / NIFTY (5050)

Daily Technical Report June 08, 2012 Sensex (16649) / NIFTY (5050) After a sharp rally on Wednesday's session, we witnessed a gap up opening for the markets. This was mainly on the back of strong positive cues from global bourses. Subsequently, indices remained in a narrow range throughout the day and closed at 5050 mark. On sectoral front, Realty, Banking and Auto counters rallied significantly during yesterday’s session; whereas Consumer Durables sector ended with a nominal loss. The advance

Uploaded by

Angel Broking
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

Daily Technical Report

June 08, 2012

Sensex (16649) / NIFTY (5050)


After a sharp rally on Wednesday's session, we witnessed a gap up opening for the markets. This was mainly on the back of strong positive cues from global bourses. Subsequently, indices remained in a narrow range throughout the day and closed at 5050 mark. On sectoral front, Realty, Banking and Auto counters rallied significantly during yesterdays session; whereas Consumer Durables sector ended with a nominal loss. The advance to decline ratio was in favor of advancing counters (A=1527 D=1172) (Source www.bseindia.com). Formation The 200-day SMA (Simple Moving Average) and 20-day EMA (Exponential Moving Average) have now shifted to 16800 / 5070 and 16360 / 4960, respectively. The 20-Week EMA is placed at 16840 / 5100 level. Indices have taken a support near 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 weekly RSI momentum signaling a positive crossover. oscillator is

Exhibit 1: Nifty Daily Chart

Source: Falcon

Actionable points:
View Expected targets Support Levels Bullish above 5060 5090 5120 4947 - 4925

Trading strategy: Yesterday, after a gap up opening, we witnessed a sideways move in the market with an underlying positive bias. Indices managed to cross mentioned swing high of 16544 / 5020 and traded well above it throughout the session. Indices are now approaching 200-day SMA' resistance zone of 16780 - 16840 / 5050 - 5090. Also, the hourly momentum oscillators are placed in the overbought territory. Hence, during the early part of todays session, the possibility of a minor pull back or consolidation in the strong upwards trend, cannot be ruled out.

Conversely, 16290 - 16220 / 4947 - 4925 levels may provide a decent support for the markets.

www.angelbroking.com

Daily Technical Report


June 08, 2012

Bank Nifty Outlook - (9951)


Yesterday, Bank Nifty opened with an upside gap in line with our benchmark indices and traded in a narrow range during first half of the session. However, during the second half strong buying emerged in banking heavyweights, which led the index to close near the highest point of the day. We are witnessing a positive crossover in directional indicators in ADX (14). Similar to the benchmark Indices, the momentum oscillators on the hourly chart on the Bank Nifty are placed in the extreme overbought zone and thus a minor pullback or consolidation during the early part of todays session cannot be ruled out. In such a scenario the index is likely to find support at 9830 - 9787 levels. On the upside, a move beyond 9975 would lead the index to test 10029 10111 levels. Actionable points:
View Expected Targets Support Levels Bullish above 9975 10029 - 10111 9787 - 9692

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon

www.angelbroking.com

Daily Technical Report


June 08, 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 16,456 4,987 9,718 1,127 148 3,779 1,002 1,514 703 292 214 692 320 304 322 186 1,599 315 2,271 486 647 517 1,945 117 420 805 126 2,423 229 429 65 556 1,237 656 1,098 149 256 743 106 474 707 451 93 2,139 181 645 94 569 229 91 404 1,222 389 S1 16,552 5,018 9,834 1,141 150 3,814 1,030 1,529 711 297 216 696 326 306 324 190 1,608 318 2,291 492 652 527 1,973 118 422 818 128 2,438 233 435 67 561 1,256 672 1,120 152 260 755 107 481 714 467 94 2,153 184 657 95 574 233 92 407 1,231 395 PIVOT 16,617 5,039 9,905 1,156 152 3,839 1,046 1,548 720 300 218 701 329 309 325 193 1,616 323 2,320 500 655 533 1,991 120 423 828 129 2,451 236 439 68 566 1,273 682 1,133 155 262 767 109 491 723 478 95 2,171 186 668 97 577 236 93 414 1,241 405 R1 16,713 5,070 10,021 1,170 153 3,873 1,073 1,563 728 304 220 706 334 311 327 197 1,625 326 2,340 507 660 544 2,019 122 425 840 131 2,466 240 444 69 570 1,292 698 1,156 158 266 779 110 497 730 494 96 2,186 189 680 98 582 240 94 417 1,250 411 R2 16,777 5,091 10,091 1,185 156 3,899 1,089 1,582 737 307 222 711 337 314 328 199 1,633 331 2,369 514 663 550 2,037 124 427 850 133 2,480 243 448 70 576 1,310 708 1,169 160 269 791 112 508 739 505 97 2,204 192 691 100 586 243 95 424 1,259 421

www.angelbroking.com

Daily Technical Report


June 08, 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

For any Queries, Suggestions and Feedback kindly mail to [email protected]

Angel Broking Pvt. Ltd.


Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3952 6600

Sebi Registration No: INB 010996539


www.angelbroking.com

You might also like