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Daily Technical Report, 03.04.2013

Daily Technical Report, 03.04.2013

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Published by Angel Broking
3rd April, 2013
3rd April, 2013

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Categories:Business/Law
Published by: Angel Broking on Apr 03, 2013
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Daily Technical Report
April 03, 2013
 
www.angelbroking.com1
Sensex (19041) / NIFTY (5748)
 Yesterday, indices opened on a flat note considering quiemood across the globe. We witnessed a sideways priceaction during the first half but post midsession indices surgedhigher and maintained their positive bias till the fag end othe session. All the sectors ended on a positive note. Theadvance to decline ratio was strongly in favor of advancingcounters (A=1953 D=827) (Source–www.bseindia.com)
 
Formation
 
 The ’20-day EMA’ and the ’20-week EMA’ are placed a19069 / 5759
 
and
 
19149 / 5795 levels, respectively.
 
 The ‘200 Day SMA’ is placed at 18556 / 5627.
 
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 -Smoothened’ is now signaling a positive crossover.
 Trading strategy:
 
 Yesterday post midsession, we witnessed immense buyinginterest among market participants. As a result, indicetraversed the stiff resistance of hourly '89 EMA' and graduallmoved higher. We are now observing that indices have noapproached '20-day EMA' at 5760, which may act asresistance for the day. On the other hand, the daily 'RSI-Smoothened' oscillator is now signaling a positive crossover.Hence, the possibility of crossing the '20-day EMA' and asurge in price action over the next few sessions cannot beruled out. Going forward, a move beyond 19108 / 5772may push indices higher to test the next resistance level o19210 / 5820. Conversely, yesterday's low of 18826 / 5687may provide decent support for the market.
Exhibit 1: Nifty Daily Chart
Source: Falcon:
Actionable points:
View Bullish Above 5772
Expected Target 5820Support levels 5687 - 5675
 
 
Daily Technical Report
April 03, 2013
 
www.angelbroking.com2
Bank Nifty Outlook - (11523)
 Yesterday, Bank Nifty opened on a muted note in linewith our benchmark indices and subsequently traded in anarrow range during initial part of the session. However,during the second half, buying interest mainly in the PSUbanking counters led the index to close near day’s high.On the hourly chart we are now witnessing a Bullish‘Head & Shoulder’ pattern breakout implying a target of 11950. In addition the momentum oscillators on the dailychart continue to be positively poised. Hence any dip inthe index should be used as a buying opportunity. On thedownside 11460 – 11330 levels are likely to act assupport for the day. The stop loss for the trade should beplaced at the 11300 mark.
Actionable points:
View Bullish Above 11550
Expected Target 11656 11719Support Level 11460 - 11330
Exhibit 2: Bank Nifty Daily Chart
Source: Falcon:
 
 
Daily Technical Report
April 03, 2013
 
www.angelbroking.com3
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS S2 S1 PIVOT R1 R2
SENSEX 18,742 18,891 18,976 19,125 19,210NIFTY 5,663 5,705 5,730 5,773 5,797BANKNIFTY11,291 11,407 11,478 11,594 11,664ACC 1,145 1,161 1,171 1,187 1,197AMBUJACEM 172 175 177 179 181ASIANPAINT 4,818 4,854 4,912 4,948 5,006AXISBANK 1,278 1,290 1,305 1,317 1,332BAJAJ-AUTO 1,715 1,734 1,759 1,778 1,803BANKBARODA 676 686 693 703 710BHARTIARTL 288 290 292 294 297BHEL 179 182 184 187 189BPCL 367 372 377 383 388CAIRN 280 287 291 298 302CIPLA 383 388 391 395 398COALINDIA 303 306 308 311 313DLF 243 250 254 260 265DRREDDY 1,805 1,822 1,833 1,850 1,861GAIL 316 319 321 324 327GRASIM 2,768 2,784 2,799 2,815 2,830HCLTECH 783 789 794 801 805HDFC 804 811 819 826 834HDFCBANK 611 620 627 637 644HEROMOTOCO 1,510 1,521 1,530 1,541 1,549HINDALCO 90 92 93 94 95HINDUNILVR 466 468 471 474 476ICICIBANK 1,032 1,039 1,047 1,054 1,062IDFC 140 144 146 149 151INDUSINDBK 405 415 421 431 437INFY 2,883 2,926 2,958 3,001 3,033ITC 303 305 307 309 311 JINDALSTEL 336 343 348 356 361 JPASSOCIAT 67 68 69 70 71KOTAKBANK 641 649 654 662 668LT 1,380 1,403 1,417 1,440 1,454LUPIN 624 630 638 644 651M&M 844 853 859 868 875MARUTI 1,239 1,273 1,295 1,329 1,350NMDC 133 135 136 138 139NTPC 142 143 144 145 146ONGC 302 310 314 322 326PNB 712 728 737 753 762POWERGRID 104 105 106 108 109RANBAXY 438 444 451 456 463RELIANCE 771 783 790 801 808RELINFRA 327 339 347 360 368SBIN 2,049 2,095 2,121 2,167 2,194SESAGOA 148 152 155 160 163SUNPHARMA 796 824 839 866 881 TATAMOTORS 255 261 265 271 275 TATAPOWER 94 95 96 96 97 TATASTEEL 310 315 318 323 326 TCS 1,530 1,549 1,560 1,579 1,590ULTRACEMCO 1,815 1,836 1,850 1,871 1,885

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