daily technical report, 12.07.2013

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Daily Technical Report

July 12 , 2013

Sensex (19676) / NIFTY (5935)

Yesterday, our benchmark indices opened substantiallhigher as indicated by the SGX Nifty early in the morning.

Markets then maintained their early gains and graduall

moved higher to end the session with massive gain of 2%.

The Metals, Banking and Reality counters outperformed

significantly whereas Consumer Durables faced selling

pressure. The cash segment volumes remained considerabl

lower in spite of such a strong rally in the markets. The

advance to decline ratio was strongly in the favor o

advancing counters (A=1358 D=974) (Source–

www.bseindia.com).

Formation

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

19338 / 5850 and 18526 / 5605 levels, respectively.

The ’20-day EMA’ and the ‘20-week EMA’ are placed a

19310/ 5823 and 19363 / 5859, respectively.

The weekly ‘RSI’ and ‘Stochastic’ oscillators are positivel

poised.

The 61.8% and 78.60% Fibonacci retracement levels o

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

at 19689 / 5976 and 20021 / 6088, respectively.

The weekly chart now depicts a ‘Bullish Engulfing’

pattern but the monthly chart shows a 'Bearish Engulfing"

Japanese candlestick pattern.

Trading strategy:

All the equity markets across the globe got a booster shot

after the Fed Reserve chairman Ben Bernanke announced

that the central bank is not in a hurry to raise short terrates and that the accommodative monetary policy will be

here to stay for the foreseeable future. We witnessed a huge

gap opening in our market and a breakout beyond the stif

resistance level of 19640 / 5904. The daily chart no

depicts a breakout from the 'Bullish Pennant' pattern.

Considering the current momentum and the positive

placement of weekly oscillators, we expect our market to rall

towards 19860 / 6011 if they sustain above yesterday’s high

of 19723 / 5948 levels. On the flipside, 19640 - 19598/

5904 - 5887 would act as support for our market. Trader

should bear in mind that the Infosys results and the IIPnumbers will be declared in today’s session. Thus trader

should stay light on positions and maintain strict stop losse

for their trades.

Exhibit 1: Ni fty Daily Chart

Source: Falcon :

Actionable poin ts:

View N eutral

Support Levels 5887 - 5904

Resistance Level 5948 - 6011





July 12, 2013

Bank N ifty Outlook - (11655)

Yesterday, the Bank Nifty too opened with nearly two percentupside gap in-line with optimistic trading mood across the

globe. During the entire session, the Bank Nifty managed on

to the gains and to close well inside the positive territory. In

the process, the index has given a 'Downward Sloping Trend

Line' breakout as shown in the chart and also crossed the

daily '20 EMA' placed at 11567. Considering the positive

placement in daily momentum oscillators, we expect the Bank

Nifty to test its next resistance level of 11752. Conversely,

yesterday's low of 11541 would be key support in coming

trading session. A fall below this low would negate allbullish possibilities in the near term and traders can use

this as a stop loss for their long positions.

Actionable points:

View N eutral

Resistance Level 11752

Support Level 11541

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon :





July 12, 2013

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 19,368 19,522 19,623 19,777 19,878

NIFTY 5,863 5,899 5,924 5,960 5,985BANKNIFTY

11,467 11,561 11,636 11,730 11,804ACC 1,230 1,240 1,255 1,265 1,280

AMBUJACEM 194 196 197 199 201

ASIANPAINT 4,780 4,827 4,857 4,905 4,935

AXISBANK 1,266 1,277 1,288 1,299 1,311

BAJAJ-AUTO 1,852 1,864 1,876 1,889 1,901

BANKBARODA 557 563 569 574 580

BHARTIARTL 290 295 298 303 306

BHEL 182 184 187 189 191

BPCL 334 337 341 343 347

CAIRN 287 290 292 295 298

CIPLA 395 398 401 403 407

COALINDIA 288 293 298 303 308

DLF 175 177 178 180 182

DRREDDY 2,243 2,269 2,288 2,314 2,333

GAIL 314 317 320 324 327

GRASIM 2,797 2,819 2,847 2,869

HCLTECH 824 832 841 849 857

HDFC 826 840 849 863 871

HDFCBANK 658 671 679 691 699

HEROMOTOCO 1,633 1,665 1,690 1,722 1,747

HINDALCO 98 100 102 105 107

HINDUNILVR 590 596 599 605 609

ICICIBANK 1,037 1,047 1,061 1,071 1,084

IDFC 129 130 131 132 134

INDUSINDBK 497 504 510 517 524

INFY 2,480 2,504 2,534 2,558 2,588

ITC 343 348 351 357 360

JINDALSTEL 216 219 223 226 231

JPASSOCIAT 53 53 54 55 56

KOTAKBANK 721 733 743 755 765

LT 945 955 967 977 990

LUPIN 857 863 869 875 881

M&M 906 912 921 927 936

MARUTI 1,445 1,476 1,527 1,557 1,609

NMDC 104 105 107 108 110

NTPC 141 143 144 145 147

ONGC 297 301 304 308 311

PNB 618 624 632 638 646

POWERGRID 108 109 110 111 113

RANBAXY 334 338 344 349 355

RELIANCE 853 862 868 876 882

RELINFRA 374 378 382 386 391

SBIN 1,885 1,898 1,913 1,926 1,941

SESAGO A 140 145 148 153 157

SUNPHARMA 1,074 1,085 1,097 1,107 1,119

TATAMOTORS 278 281 286 290 295

TATAPOWER 86 87 88 89 90

TATASTEEL 256 258 262 265 268

TCS 1,502 1,533 1,552 1,583 1,602

ULTRACEMCO 1,958 1,969 1,979 1,990 1,999



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July 12, 2013

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Sacchitanand Uttekar - Technical Analyst

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daily technical report, 12.07.2013

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