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Daily Technical Report, 13.06.2013

Daily Technical Report, 13.06.2013

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Published by Angel Broking
13th June, 2013
13th June, 2013

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Categories:Types, Business/Law
Published by: Angel Broking on Jun 13, 2013
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10/12/2013

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www.angelbroking.com1
Daily Technical Report
June 13, 2013
 
Sensex (19041) / NIFTY (5760)
 Yesterday, our benchmark indices opened slightly lower, inline with global peers. The bears’ continue to have an upperhand and pessimism was seen in case of individual indecounters. Overall, the markets ended the session with a hala percent cut. During the session, the Consumer Durablecounters corrected heavily along with the Metal and ITstocks; whereas the Health Care and Oil & Gas sectordefended the market. The advance to decline ratio was infavor of declining counters. (A=967 D=1398)(Source–www.bseindia.com)
 
Formation
 
 The ’20-week EMA’ and the ’20-day EMA’ are placed a19378/ 5875 and 19754/ 5991 levels, respectively.
 
 The ’89-day EMA’ and the ‘200-day SMA’ are placed a19443/ 5897 and 19095 / 5790, respectively.
 
 The weekly ‘RSI’ and ‘Stochastic’ momentum oscillatorare still negatively poised.
 
 The weekly ‘Bearish Engulfing’ and the monthl‘Shooting Star’ Japanese candlestick patterns are stillintact.
 
Trading strategy:
 
For the third consecutive session, our benchmark indiceposted a closing in the negative territory. During the session,indices breached the 61.8% Fibonacci retracement level o19022 / 5764 and corrected towards the mentioned supporlevel of 18870 / 5732. This level provided a decent supporand as a result, indices bounced to eventually close near19022 / 5764. Yesterday’s price action has resulted information of candlestick pattern, which resembles a‘Spinning Top’. An occurrence of such pattern near supporlevel indicates uncertainty among market participants.Hence, any sustainable move beyond yesterday’s high o19143 / 5793 may attract intraday buying interest in themarket. In this scenario, indices may rally towards 19271 –19395 / 5830 – 5869 levels. On the flipside, if indicesustain below 18870 / 5732, then it may slide toward18673 – 5669.
Exhibit 1: Nifty Daily Chart
Source: Falcon
Actionable points:
View Bearish below 5732
Expected Targets 5669 - 5650Resistance levels 5793 5830
 
 
www.angelbroking.com2
Daily Technical Report
June 13, 2013
 
Bank Nifty Outlook - (11815)
 Yesterday, the Bank Nifty opened slightly lower but tradedin a range throughout the session. At present, the BankNifty has closed marginally below the 61.8% Fibonacciretracement level of 11853. Further, similar to thebenchmark indices, the current daily candle resembles a‘Spinning Top’ pattern. Hence, only a sustainable movebeyond yesterday’s high of 11899 may attract intradayoptimism. In this case the Bank Nifty may bounce towardsthe next resistance levels of 12032 – 12184. Conversely, abreach of yesterday’s low of 11732 would negate thepattern and the Bank Nifty then may correct towards11590 / 11330. It must be noted that the overall chartstructure of the Bank nifty is significantly weaker than thebenchmark indices and selling pressure may intensifygoing forward in the next few sessions.
Actionable points:
View Bearish below 11732
Expected Targets 11590 - 11330Resistance Levels 12032 12184
Exhibit 2: Bank Nifty Daily Chart
Source: Falcon
 
 
www.angelbroking.com3
Daily Technical Report
June 13, 2013
 
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS S2 S1 PIVOT R1 R2
SENSEX 18,877 18,959 19,051 19,133 19,225NIFTY 5,710 5,735 5,764 5,789 5,818BANKNIFTY11,649 11,732 11,815 11,898 11,982ACC 1,161 1,187 1,221 1,246 1,281AMBUJACEM 170 172 174 176 178ASIANPAINT 4,406 4,451 4,485 4,531 4,565AXISBANK 1,238 1,256 1,285 1,303 1,332BAJAJ-AUTO 1,689 1,716 1,750 1,777 1,811BANKBARODA 636 644 651 659 666BHARTIARTL 271 274 278 281 285BHEL 175 177 180 183 186BPCL 350 356 362 368 374CAIRN 1,453 1,472 1,481 1,500 1,509CIPLA 284 287 289 292 295COALINDIA 378 381 383 386 388DLF 294 299 304 309 314DRREDDY 182 186 189 193 197GAIL 2,150 2,164 2,179 2,194 2,209GRASIM 301 303 306 308 311HCLTECH 2,736 2,758 2,782 2,804 2,828HDFC 745 754 762 771 779HDFCBANK 808 815 822 829 837HEROMOTOCO 650 657 665 672 680HINDALCO 1,545 1,578 1,621 1,653 1,696HINDUNILVR 90 91 93 94 96ICICIBANK 592 593 594 595 596IDFC 1,059 1,070 1,080 1,091 1,100INDUSINDBK 136 139 142 145 148INFY 464 478 488 502 512ITC 2,353 2,387 2,447 2,481 2,540 JINDALSTEL 325 328 331 334 337 JPASSOCIAT 210 223 232 245 254KOTAKBANK 60 61 62 64 65LT 733 740 747 754 761LUPIN 1,372 1,384 1,397 1,409 1,422M&M 746 758 767 780 789MARUTI 908 928 946 965 983NMDC 110 111 113 114 116NTPC 147 149 151 153 154ONGC 304 307 310 312 316PNB 730 742 752 764 774POWERGRID 106 107 108 109 110RANBAXY 367 374 380 386 392RELIANCE 775 783 790 798 805RELINFRA 330 337 350 357 370SBIN 1,944 1,975 2,002 2,033 2,060SESAGOA 140 142 146 148 151SUNPHARMA 961 971 981 991 1,001 TATAMOTORS 287 290 293 297 300 TATAPOWER 77 78 81 82 85 TATASTEEL 267 271 276 279 284 TCS 1,442 1,455 1,475 1,488 1,508ULTRACEMCO 1,813 1,827 1,844 1,858 1,874

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