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Daily Technical Report, 01.04.2013

Daily Technical Report, 01.04.2013

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Published by Angel Broking
2nd April, 2013
2nd April, 2013

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Categories:Business/Law
Published by: Angel Broking on Apr 02, 2013
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04/02/2013

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Daily Technical Report
April 01, 2013
 
www.angelbroking.com1
Sensex (18836) / NIFTY (5683)
On Thursday, our benchmark indices opened on a flat noteand nearly tested the 5600 mark during the first half of thesession. However, a short covering rally during the latter halled the indices to close in the positive territory. Most of thesectors ended on a gaining side except for Auto counterwhich ended with marginal losses. The advance to declineratio was in favor of advancing counters (A=1625 D=1149)(Source–www.bseindia.com)
 
Formation
 
 The ’20-day EMA’ and the ’20-week EMA’ are placed a19094 / 5766
 
and
 
19161 / 5801 levels, respectively.
 
 The ‘200 Day SMA’ is placed at 18556 / 5627.
 
 The ‘Lower Top Lower Bottomformation on weeklchart is still intact.
 
We are witnessing a ‘Downward Sloping’ trend linesupport drawn by joining the lows of December 18,2012 and March 04, 2013.
 
 The daily momentum oscillators viz, the ‘RSI’ and‘Stochastic’ are signaling a positive crossover.
 Trading strategy:
 
 This week, we witnessed a very narrow trading range for thebenchmark indices. As mentioned in our earlier report, the‘Downward Sloping Trend Line’ and ‘200-day SMA’provided decent support to our benchmark indices. Despite acouple of decent attempts, the bears were unsuccessful inviolating the strong support level of 18525 / 5600. In fact,indices managed to bounce sharply during the last hour othe week to register a weekly close marginally in the positiveterritory. We are now observing that the daily ‘RSI’ and‘Stochastic’ oscillators have signaled a positive crossover.Hence, a move beyond Thursday’s high of 18883 / 5693may push indices higher to test next resistance levels o19094 – 19210 / 5766 – 5820. On the flipside, wemaintain our view that only a sustainable move below 18525/ 5600 would justify a bear case scenario and may dragindices lower to test 18255 – 17800 / 5548 – 5441 levels.
Exhibit 1: Nifty Daily Chart
Source: Falcon:
Actionable points:
View Bullish Above 5693
Expected Target 5766Support levels 5655 5600
 
 
Daily Technical Report
April 01, 2013
 
www.angelbroking.com2
Bank Nifty Outlook - (11362)
On Thursday, Bank Nifty opened on a positive note andgained strength on account of short covering to close witha gain of 1.78%. The index has bounced back aftertaking support at the trend line formed by joining thesignificant lows of December 18, 2012 and February 28,2013. In addition we are witnessing a positive crossoverin ‘RSI’ momentum oscillator on the daily chart coupledwith ‘Bullish Harami’ candlestick pattern on the weeklychart. The effect of the above mentioned technical toolswill be seen if the index sustains above 11413 level. Inthis scenario the BakNifty is likely to rally towards 1151011555 levels. On the downside 11198 – 11117 levelsare likely to act as support for the day.
Actionable points:
View Bullish Above 11413
Expected Target 11510 11555Support Level 11198 - 11117
Exhibit 2: Bank Nifty Daily Chart
Source: Falcon:
 
 
Daily Technical Report
April 01, 2013
 
www.angelbroking.com3
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS S2 S1 PIVOT R1 R2
SENSEX18,448 18,642 18,762 18,956 19,076NIFTY5,572 5,627 5,660 5,715 5,748BANKNIFTY10,952 11,157 11,285 11,490 11,618ACC1,129 1,144 1,156 1,171 1,183AMBUJACEM163 169 173 178 182ASIANPAINT4,819 4,868 4,896 4,946 4,974AXISBANK 1,262 1,281 1,296 1,316 1,330BAJAJ-AUTO1,725 1,762 1,798 1,835 1,871BANKBARODA652 664 673 685 695BHARTIARTL284 288 292 296 301BHEL172 174 177 179 182BPCL366 372 378 384 390CAIRN261 267 274 280 287CIPLA373 376 381 384 388COALINDIA297 303 306 313 316DLF224 229 233 239 243DRREDDY1,705 1,736 1,762 1,793 1,819GAIL298 308 315 325 332GRASIM2,788 2,801 2,813 2,826 2,838HCLTECH768 782 793 807 818HDFC796 811 820 836 845HDFCBANK 597 611 621 635 645HEROMOTOCO1,490 1,516 1,542 1,568 1,594HINDALCO86 89 90 93 95HINDUNILVR458 462 467 472 477ICICIBANK 986 1,015 1,036 1,066 1,086IDFC137 140 142 146 148INFY2,833 2,861 2,879 2,907 2,925ITC303 306 308 311 313 JINDALSTEL332 340 347 355 362 JPASSOCIAT62 64 65 67 68KOTAKBANK 627 640 650 663 673LT1,327 1,347 1,359 1,378 1,391LUPIN610 619 628 638 646M&M827 844 857 874 887MARUTI1,245 1,263 1,290 1,307 1,334NTPC140 141 142 143 144ONGC296 304 309 317 322PNB696 707 715 726 734POWERGRID103 104 105 107 108RANBAXY427 433 442 448 457RELIANCE753 763 774 784 796RELINFRA310 317 322 330 335SBIN2,012 2,043 2,061 2,092 2,110SESAGOA147 151 154 159 162SIEMENS496 522 541 567 585SUNPHARMA809 814 822 827 835 TATAMOTORS263 266 270 273 276 TATAPOWER92 94 96 98 99 TATASTEEL294 303 310 320 327 TCS1,525 1,550 1,567 1,592 1,609ULTRACEMCO1,783 1,826 1,860 1,903 1,937WIPRO426 432 437 442 447

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