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    Daily Technical Report: Formation

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    Angel Broking
    The daily technical report provides an analysis of the movement of the Sensex, Nifty and Bank Nifty indices in the previous session. It notes that the indices opened higher based on positive global cues and maintained gains throughout the day. On a sectoral basis, metal, banking and FMCG stocks performed well while IT and tech lagged. The report examines technical indicators like simple and exponential moving averages to identify support and resistance levels. It provides trading strategies and targets for the indices as well as outlook and levels for Bank Nifty and specific stocks in the coming sessions.

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    Daily Technical Report: Formation

    Uploaded by

    Angel Broking
    290 views5 pages
    The daily technical report provides an analysis of the movement of the Sensex, Nifty and Bank Nifty indices in the previous session. It notes that the indices opened higher based on positive global cues and maintained gains throughout the day. On a sectoral basis, metal, banking and FMCG stocks performed well while IT and tech lagged. The report examines technical indicators like simple and exponential moving averages to identify support and resistance levels. It provides trading strategies and targets for the indices as well as outlook and levels for Bank Nifty and specific stocks in the coming sessions.

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    DailyTech Report 13.04.12

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    The daily technical report provides an analysis of the movement of the Sensex, Nifty and Bank Nifty indices in the previous session. It notes that the indices opened higher based on positive global cues and maintained gains throughout the day. On a sectoral basis, metal, banking and FMCG stocks performed well while IT and tech lagged. The report examines technical indicators like simple and exponential moving averages to identify support and resistance levels. It provides trading strategies and targets for the indices as well as outlook and levels for Bank Nifty and specific stocks in the coming sessions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    290 views5 pages

    Daily Technical Report: Formation

    Uploaded by

    Angel Broking
    The daily technical report provides an analysis of the movement of the Sensex, Nifty and Bank Nifty indices in the previous session. It notes that the indices opened higher based on positive global cues and maintained gains throughout the day. On a sectoral basis, metal, banking and FMCG stocks performed well while IT and tech lagged. The report examines technical indicators like simple and exponential moving averages to identify support and resistance levels. It provides trading strategies and targets for the indices as well as outlook and levels for Bank Nifty and specific stocks in the coming sessions.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Technical Research | April 13, 2012

    Daily Technical Report Sensex (17333) / NIFTY (5277)


    Yesterday, we witnessed a gap up opening on the back of strong cues from U.S. and European bourses. Indices maintained their early gains throughtout the day and closed above the 5250 mark. On sectoral front, Metal, Banking and FMCG counters surged during yesterdays session; whereas IT and Teck sectors remained under pressure. The advance to decline ratio was strongly in favor of advancing counters (A=1240 D=1524) (Source www.bseindia.com)

    Exhibit 1: Nifty Daily Chart

    Formation:
    The 200-day SMA (Simple Moving Average) and 20day EMA (Exponential Moving Average) have now shifted to 17100 / 5150 and 17360 / 5280, respectively. The 20-Week EMA is placed at 17200 / 5200 level. Indices have taken support near 78.60% Fibonacci

    Retracement level (17080 / 5187) of the rise from 16920 to 17664 / 5135 to 5379 levels. We are now observing a positive crossover in daily
    Source: Falcon

    RSI momentum oscillator.

    Trading strategy:
    After a gap up opening, indices crossed Wednesdays high of 17319 / 5264 during the initial hour of the session. As expected, indices then moved towards their immediate resistance level of 17407 / 5288. At present, Wednesdays low of 17075 / 5190, near 78.60% Fibonacci Retracement level (17080 / 5187), is a key support for the markets in coming trading sessions. Considering the global cues today, it is likely that our markets too will open on an optimistic note. We are also observing a positive crossover in daily RSI momentum oscillator which indicates possibility of an upside momentum if indices manage to sustain above yesterdays high of 17395 / 5291 level. In this case, indices are likely to rally towards 17554 17664 /5339 5379 levels. On the flip side, the immediate support levels are seen at 17276 17075 / 5246 5190.

    Actionable points:
    View Expected Targets Support Levels Positive Above 5291 5339 5379 5246 5190

    For Private Circulation Only |

    Technical Research | April 13, 2012

    Bank Nifty Outlook - (10401)


    Yesterday, Bank Nifty opened on an optimistic note and gained strength as the day progressed to close near the 10400 level. On the daily chart, the momentum oscillators, (RSI and Stochastic) have given a positive crossover. However, on the hourly chart we are witnessing narrow range body formations which suggest signs of exhaustion if the bank nifty is unable to cross 10435 levels. Looking at the mixed picture from hourly and daily chart we expect volatility to increase in coming trading session. On the upside if the Bank nifty can sustain above 10435, it is likely to test 10520 - 10625 levels. On the downside 10315 10250 levels may act as support. Exhibit 2: Bank Nifty Daily Chart

    Actionable points:
    View Target levels Support Levels Positive above 10435 10520-10625 10315 10250

    Source: Falcon

    For Private Circulation Only |

    Technical Research | April 13, 2012

    Positive Bias:
    Positive Above 258 Expected Target 264

    Stock Name BHEL

    CMP 257.5

    5 Day EMA 257.5

    20 Day EMA 263.9

    Remarks View will change below 253.9

    For Private Circulation Only |

    Technical Research | April 13, 2012

    Daily Pivot Levels for Nifty 50 Stocks


    SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM AXISBANK BAJAJ-AUTO BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RCOM RELIANCE RELINFRA RPOWER SAIL SBIN SESAGOA SIEMENS STER SUNPHARMA SUZLON TATAMOTORS TATAPOWER TATASTEEL TCS WIPRO S2 17,217 5,228 10,179 1,232 159 1,148 1,620 319 252 665 330 307 330 193 1,661 352 483 670 520 1,955 124 412 863 132 2,680 226 468 78 554 1,277 684 1,262 163 257 889 110 475 81 728 538 114 93 2,153 179 762 102 557 24 282 101 444 1,117 432 S1 17,275 5,252 10,290 1,256 161 1,172 1,629 322 255 672 335 309 331 196 1,677 356 489 675 525 1,991 126 417 871 133 2,715 231 490 79 561 1,284 690 1,287 164 259 901 111 490 84 736 546 115 93 2,190 182 775 102 565 24 284 102 449 1,125 436 PIVOT 17,335 5,271 10,361 1,270 162 1,188 1,640 325 256 677 342 313 334 201 1,705 358 496 678 530 2,013 127 419 878 135 2,774 233 502 80 565 1,295 696 1,301 166 263 912 112 499 86 741 555 117 94 2,212 184 785 103 572 25 286 104 453 1,136 441 R1 17,393 5,296 10,472 1,294 163 1,212 1,649 327 259 685 347 315 335 204 1,721 361 502 683 535 2,050 129 424 886 137 2,809 237 524 81 572 1,303 701 1,327 167 265 924 113 514 89 748 563 118 95 2,249 187 798 103 580 25 288 105 457 1,143 444 R2 17,453 5,315 10,544 1,308 164 1,227 1,660 330 260 690 354 318 338 208 1,748 363 509 687 540 2,072 130 427 893 138 2,867 239 537 82 577 1,314 707 1,341 168 269 935 115 523 91 753 572 120 96 2,271 189 808 105 587 25 290 106 461 1,155 450

    Technical Research Team


    For Private Circulation Only |

    Technical Research | April 13, 2012 Technical 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] Research Team: 022-3952 6600 Website: www.angelbroking.com

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