technical format with stock 06.12.2012

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Daily Technical Report

December 06, 2012

www.angelbroking.com 1

Sensex (19392) / NIFTY (5901)

Yesterday, our benchma rk indices opened m arginally higher

in-line with strong cues from other Asian bourses (especially,Hang Sang and Shanghai Composite). This resulted in the

N i f ty edging above 5900 ma rk during the initia l hour of the

session. However, the price action during the day was

lackluster similar to previous couple of trading sessions.

Realty and Metal sectors outperformed in yesterday’s trading

session; whereas the IT and Teck counters kept our market

und er pressure. The advan ce to decline ratio wa s stron gly in

favor of advancing counters (A= 168 8 D= 12 27) (Source –

www.bseindia.com).

Formation

The ’20-day EMA’ and the ’20-week EMA’ are placed at

18 702 / 568 7 a nd 18 281 / 555 2 levels, respectively.

O n the weekly chart, we are witnessing a b reakout from

‘Downward Sloping Trend Line’ joining two significant

swing h igh of 1981 1 / 5944 (Apr i l 2011 ) and 19137 /

5815 (Oct 2012) a t 19050 / 5800 leve l.

The target of the daily ‘Cha nnel’ pattern breakout comes

around 19500 / 5950 level .

The weekly ‘Stochastic’ and the ‘RSI’ oscillators are now

sign aling a p ositive crossover.

Trading strategy:

Yesterday, we witnessed yet another session with lackluster

activity and a narrow trading range. Further, init ial gap

opening above the high of ‘Spinning Top’ candle has

negated the pattern. However, the daily chart now depicts yet

another ‘Narrow Range Body’ formation. Hence, the

uncertainty among market participants stil l persists. Going

forward, yesterday’s high of 19464 / 5918 wil l now act as aresistance in comi ng trad ing session. O nly a sustaina ble

move beyond this level, with strong volumes, may ultimately

push indices to our m entioned level of 1981 2 / 594 5. O n

the other hand, a breach of yesterday’s low would trigger

intraday pessimism in the market. In this case, we may see

weakness up to 192 57 – 1900 0 / 585 4 – 580 0 levels.

Exhibit 1: N ifty Daily Chart

Source: Falcon:

Actionable points:

View for the day N eutral

Resistance Level 59 18 - 59 45

Supp ort Levels 585 4 – 58 00




December 06, 2012


Exhibit 2: Bank Ni fty Hourly Chart

Source: Falcon:

Bank N ifty Outlook - (12282)

Yesterday, Bank N ifty opened with an upside ga p in l ine with

our benchmark indices and traded in a narrow range

throughout the session. The negative divergence in “RSI”

momentum osci l lator on the hourly chart coupled with

overbough t cond ition o n m om entum osci l lator “ Stochastic” on

daily chart mentioned in our previous report is stil l intact. The

index is now approaching the resistance zone 12335 –

12365, hence we believe that the ongoing consolidation

phase is likely to continue. Any pullback in the index would be

seen only i f the index fal ls below 1 20 53 level. O n the up side

12335 – 12365 are l ikely to act as resistance and 12219 –

12106 levels are likely to act as support for the day. Traders

are advised not to create any fresh long positions in the index

at this point of time.

Actionable poin ts:

View for the day N eutral

Resistance Levels 12 33 5 – 12 36 5

Support Levels 122 19 - 12 106




December 06, 2012


Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 19,316 19,354 19,409 19,446 19,501

NIFTY 5,877 5,889 5,903 5,915 5,930

BANKNIFTY 12,176 12,229 12,272 12,325 12,367

A C C 1 ,411 1 ,421 1 ,432 1 ,442 1 ,452

AMBUJACEM 204 206 207 209 210

ASIANPAINT 4,318 4,348 4,381 4,411 4,444

AXISBANK 1,319 1,327 1,333 1,341 1,348

BAJAJ-AUTO 1,890 1,910 1,942 1,961 1,994

BANKBARO DA 765 774 781 790 797

BHARTIARTL 323 327 330 334 337

BHEL 233 235 238 241 244

BPCL 344 352 356 363 368

C A IRN 331 332 333 334 335

CIPLA 409 412 414 417 419

C O A LIN D IA 357 359 364 366 370

D LF 210 216 220 226 230

DRREDDY 1,812 1,822 1,833 1,843 1,853

G A IL 351 352 354 355 356

GRASIM 3,257 3,275 3,298 3,317 3,340

HCLTECH 625 632 642 649 659

H D FC 823 831 841 849 859

H D FC BA N K 684 688 692 696 700

H ERO MO TO C O 1 ,793 1 ,807 1 ,821 1 ,835 1 ,849

H IN D A LC O 116 119 120 123 124

HINDUN ILVR 526 529 533 536 541

ICICIBANK 1,099 1,109 1,119 1,129 1,139ID FC 171 172 174 175 177

INFY 2,344 2,363 2,397 2,416 2,449

ITC 293 295 297 300 302

JINDALSTEL 395 399 407 412 420

JPASSO CIAT 98 99 102 103 105

KOTAKBANK 652 658 666 671 680

LT 1,648 1,657 1,669 1,679 1,691

LU PIN 582 589 596 603 610

M & M 9 1 7 9 2 3 9 3 5 9 4 2 9 5 4

MARUTI 1 ,462 1,470 1,480 1,488 1,498

N TPC 157 158 159 160 161

O N G C 2 6 3 2 6 5 2 6 7 2 7 0 2 7 2

PN B 783 798 810 825 837

PO WERGRID 118 119 120 121 122

RANBAXY 507 510 515 518 522

RELIANCE 814 823 830 840 847

RELINFRA 493 497 502 505 510

SBIN 2,229 2,250 2,267 2,288 2,304

SESAGO A 178 184 187 192 195

SIEMENS 673 678 683 688 692

SUNPHARMA 691 697 704 710 717

TATAMO TO RS 268 272 275 279 282

TATAPO WER 104 106 109 112 115

TATASTEEL 390 394 397 401 404

TCS 1,279 1,288 1,298 1,307 1,317

ULTRACEMCO 1,895 1,924 1,965 1,994 2,035

WIPRO 371 376 384 388 396




December 06, 2012

www angelbroking com 4

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Research Team

Shard ul Kulkarni - Head – Technicals Sam eet Cha van - Technical Ana lyst

Sacchitana nd Uttekar - Technical Ana lyst

M ehul Kothari - Technical Ana lyst

Anku r Lak hotia - Technical Ana lyst

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technical format with stock 06.12.2012

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