Daily Technical Report

February 20, 2013

Sensex (19636) / NIFTY (5940)
Yesterday's session too opened on a flat note in-line with muted sentiments among market participants across the globe. However, post midsession indices surprisingly picked up strong positive momentum and managed to close at the highest point of the day. On sectoral front, all the sectors contributed to yesterday’s rally among which Realty, IT and Healthcare were the major gainers. The advance to decline ratio was strongly in favor of advancing counters (A=1371 D=742) (Source –www.bseindia.com).

Exhibit 1: Nifty Daily Chart

Formation
 The ’20-day EMA’ and the ’20-week EMA’ are placed at 19652 / 5951 and 19233 / 5832 levels, respectively. The Nifty has broken down from the ‘Upward Sloping Trend Line’ (as shown in the chart). The weekly ‘RSI Smoothened’ and ‘3 & 8 EMA’ are signaling a negative crossover.

Source: Falcon:

Trading strategy:
Similar to Monday's session yesterday too, indices remained range bound and traded with very lackluster movement throughout the first half of the session. However, a strong rally in the last hour of trade eventually led the index to close well inside the positive territory. Indices are now approaching '20-day EMA' and last week's high of 19723 / 5970, which may act as a strong resistance in coming trading session. Nevertheless, the daily 'RSI' momentum oscillator is now signaling a positive crossover. The impact of this tool would be seen once indices sustain above 19723 / 5970. In this scenario, indices may move higher to test 19767 / 5991. On the flip side, yesterday's low of 19457 / 5883 would act as a key support level for our market.

Actionable points:
View Resistance Levels Support Levels Neutral 5970 – 5991 5910 - 5883

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Daily Technical Report
February 20, 2013

Bank Nifty Outlook - (12414)
Yesterday, Bank Nifty opened on a flat note and traded in a narrow range during major part of the session. However, in line with the broader markets, the Bank Nifty too moved higher to close above the 12400 mark. At this juncture we are witnessing positive crossover in “RSI” and “Stochastic” momentum oscillator on the daily chart. The effect of these technical tools would be seen only if the index sustains above 12427 level. In this scenario the index is likely to rally towards 12474 – 12525 levels. On the downside 12303 – 12245 levels are likely to act as support for the day.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:
View Resistance Levels Support Levels Neutral 12474 – 12525 12303 – 12245 Source: Falcon:

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Daily Technical Report
February 20, 2013

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 LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,374 5,859 12,258 1,243 188 4,427 1,416 1,917 747 299 205 370 304 376 333 258 1,773 326 2,981 682 813 669 1,626 109 466 1,107 159 2,746 297 366 72 661 1,434 586 889 1,438 150 310 838 107 407 825 471 2,221 165 560 770 301 95 377 1,399 1,859 396 S1 19,505 5,899 12,336 1,272 191 4,493 1,428 1,953 757 303 209 376 307 382 336 264 1,798 330 3,010 694 818 672 1,650 110 471 1,119 161 2,783 299 371 74 668 1,448 592 894 1,475 152 320 850 108 414 837 482 2,247 168 566 781 304 96 382 1,421 1,901 404 PIVOT 19,588 5,923 12,381 1,289 193 4,546 1,437 1,974 762 309 211 380 310 385 339 267 1,813 336 3,030 701 823 675 1,678 111 475 1,127 163 2,804 301 377 75 672 1,463 596 897 1,500 153 326 856 108 418 846 488 2,264 170 572 788 306 96 385 1,435 1,933 408 R1 19,719 5,964 12,459 1,317 195 4,612 1,448 2,010 771 314 214 385 313 391 342 274 1,839 340 3,058 713 829 678 1,701 113 480 1,139 165 2,841 303 382 76 679 1,477 603 902 1,536 154 336 868 109 426 858 499 2,290 173 578 800 309 97 390 1,457 1,975 415 R2 19,802 5,988 12,505 1,334 197 4,665 1,457 2,032 776 319 216 389 315 394 346 277 1,854 345 3,079 721 834 680 1,730 114 483 1,146 166 2,862 305 388 77 684 1,491 607 905 1,561 155 342 874 110 430 867 505 2,307 175 584 806 311 98 394 1,471 2,006 419

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Daily Technical Report
February 20, 2013
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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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