daily technical report, 04.07.2013

7/28/2019 Daily Technical Report, 04.07.2013

http://slidepdf.com/reader/full/daily-technical-report-04072013 1/4

www.angelbroking.com 1

Daily Technical Report

July 04 , 2013

Sensex (19178) / NIFTY (5771)

Yesterday, our benchmark indices opened substantially lower

as indicated by the SGX Nifty and maintained their earlmomentum throughout the session to close with a loss o

nearly one and half percent. During the session, the Realty,

Metal and Consumer Durables counters dragged indice

lower; whereas the classical defensive counters in the FMCG

and Health Care space ended with minor gains. The

advance to decline ratio was strongly in favor of declining

counters. (A=797 D=1518) (Source–www.bseindia.com)

Formation

The ’89-day EMA’ and the ’89-Week EMA’ are placed a

19323 / 5850 and 18493/ 5596 levels, respectively.

The ’20-Day EMA’ and the ‘20-Week EMA’ are placed

at 19196/ 5794 and 11299 / 5842, respectively.

The 50% and 61.8% Fibonacci retracement levels of the

fall from 20444 / 6229 to 18467/ 5566 are placed a

19455/ 5898 and 19689 / 5976, respectively.

The weekly chart depicts a ‘Bullish Engulfing’ pattern in

the previous week but the monthly chart shows a 'BearishEngulfing" Japanese candlestick pattern.

Trading strategy:

For the second consecutive session, markets opened lower

and closed well inside the negative territory. The benchmark

indices have now tested the hourly ’89-EMA’ level at 5770.

Also the momentum oscillator “Stochastic” has given a

negative crossover in yesterday’s session. Going forward, we

are of the view that if indices sustain below yesterday’s low o

19147 / 5760, then they are likely to move towards the gap

area of 18926 to 19093 / 5699 to 5749 created on June

28, 2013. On the upside, yesterday’s high would act a

important intraday resistance for the market. We advise

traders to adopt stock specific approach and trade with stric

stop losses.

Exhibit 1: Ni fty Daily Chart

Source: Falcon :

Actionable poin ts:

View Bearish below 57 60

Resistance Level 5815

Expected Targets 5699 - 5630





July 04, 2013

Bank N ifty Outlook - (11358)

Yesterday, the Bank Nifty too opened lower in-line withbenchmark indices and ended the session with more than 2%

loss. We have been mentioning in our previous reports that

the Bank Nifty charts are weaker than those of the Nifty. At

present, the Bank Nifty has closed slightly above the 61.8%

Fibonacci retracement level of the rise from 11035 to 11728.

Hence, going forward, a sustainable move below this support

level of 11300 would augment pessimism in the index. In this

scenario the index may test lower levels of 11277 / 11164.

On the upside, only a move beyond 11506 would warrant

buying interest among market participants.

Actionable poin ts:

View Bearish below 11 3 00

Expected Targets 11277 - 11164

Resistance Levels 11506

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon :





July 04, 2013

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 19,024 19,101 19,224 19,301 19,424

NIFTY 5,728 5,749 5,782 5,804 5,837BANKNIFTY

11,213 11,285 11,395 11,468 11,578ACC 1,172 1,188 1,212 1,228 1,251

AMBUJACEM 182 185 188 191 193

ASIANPAINT 4,465 4,518 4,600 4,654 4,736

AXISBANK 1,253 1,265 1,284 1,296 1,315

BAJAJ-AUTO 1,846 1,868 1,888 1,910 1,930

BANKBARODA 515 529 557 572 600

BHARTIARTL 271 283 295 307 319

BHEL 173 176 179 182 185

BPCL 345 351 360 366 374

CAIRN 283 287 293 297 303

CIPLA 390 393 397 400 403

COALINDIA 289 293 296 301 304

DLF 172 174 177 179 182

DRREDDY 2,103 2,157 2,209 2,262 2,314

GAIL 316 323 330 336 343

GRASIM 2,744 2,772 2,790 2,818 2,836

HCLTECH 747 758 767 777 786

HDFC 837 845 858 867 880

HDFCBANK 639 645 650 656 661

HEROMOTOCO 1,617 1,636 1,664 1,683 1,710

HINDALCO 95 97 99 101 103

HINDUNILVR 575 581 589 595 603

ICICIBANK 1,048 1,056 1,064 1,072 1,079

IDFC 119 122 126 129 134

INDUSINDBK 455 461 469 475 483

INFY 2,357 2,381 2,416 2,440 2,476

ITC 317 322 325 329 332

JINDALSTEL 205 210 214 220 224

JPASSOCIAT 49 50 53 54 57

KOTAKBANK 683 691 703 711 723

LT 1,370 1,381 1,399 1,411 1,429

LUPIN 784 807 821 844 857

M&M 953 967 976 990 999

MARUTI 1,541 1,551 1,566 1,576 1,591

NMDC 97 99 101 102 105

NTPC 142 143 145 145 147

ONGC 304 308 314 317 323

PNB 597 610 629 642 661

POWERGRID 106 107 109 110 112

RANBAXY 321 329 342 350 363

RELIANCE 839 845 854 860 869

RELINFRA 338 343 348 352 358

SBIN 1,839 1,869 1,923 1,952 2,006

SESAGO A 139 142 145 148 151

SUNPHARMA 981 1,000 1,011 1,031 1,041

TATAMOTORS 272 278 284 290 295

TATAPOWER 79 81 84 85 88

TATASTEEL 262 266 272 276 283

TCS 1,437 1,464 1,491 1,518 1,545

ULTRACEMCO 1,882 1,895 1,909 1,922 1,936



www angelbroking com 4


July 04, 2013

esearch Team Tel: 022 - 30940000 E-mail: [email protected] Website: www.angelbroking.com

DISCLAIMER

This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment

decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make

such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companiesreferred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and

risks of such an investment.

Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make

investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this

document are those of the analyst, and the company may or may not subscribe to all the views expressed within.

Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and

trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's

fundamentals.

The information in this document has been printed on the basis of publicly available information, internal data and other reliable

sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this

document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way

responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.

Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,

nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While

Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,

compliance, or other reasons that prevent us from doing so.

This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,

redistributed or passed on, directly or indirectly.

Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking orother advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in

the past.

Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in

connection with the use of this information.

N ote: Please refer to the im porta nt ` Stock H olding D isclosure' rep ort on the Ang el web site (Research Section). Also, plea se refer to the

latest upda te on respective stocks for the disclosure status in respect of those stocks. Ange l Broking Limited a nd its affiliates ma y ha ve

investment p ositions in the stocks recom me nded in this repo rt.

Research Team

Shardul Kulkarni - Head – Technicals Sameet Chavan - Technical Analyst

Sacchitanand Uttekar - Technical Analyst

For a ny Q ueries, Suggestions and Feedback kindly ma il to sam eet.chavan@ angelbroking.com

Ang el Broking Pvt. Ltd.Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000

Sebi Registration N o: IN B 01 09 96 53 9

daily technical report, 04.07.2013

Documents