technical report 14th march 2012
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Technical Research | March 14, 2012
Yesterday, once again our Benchmark Indices opened with
an optimistic note and traded with positive bias throughout
the day. We witnessed that, indices crossed the much
awaited hurdle of 17692 / 5382 and finally closed above
5400 mark. On the sectoral front, most of the sectors
contributed in the rally. Metal, O il & Gas and Reality
counters were among the major gainers. The advance to
decline ratio was strongly in favor of advancing counters.
(A=1712 D= 1215) (Source –www.bseindia.com)
Formation:
• We are now witnessing a positive crossover in “5 & 20-
day EMA” and “RSI Smoothened” oscillator.
• The Daily momentum oscillators viz., the RSI and the
Stochastic are positively poised.
Trading strategy:
Yesterday, indices opened with an upside gap near the
mentioned resistance of 17692 / 5382 and traded with a
positive bias throughout the day to close near days high.
The rally was in line with expectations and previously
mentioned bullish technical evidences. It was further aided
by positive global cues. Now, on the Daily chart, we are
witnessing a positive crossover in “5 & 20-day EMA” and
“RSI Smoothened” oscillator. This suggests that themomentum on the upside is likely to continue. Also, the
global indices and SGX Nifty suggests that our benchmark
indices may open with an upside gap. Therefore, on the
upside indices are likely to test 18001 – 18140 / 5459 –
5505 levels. On the downside, the immediate support is
seen around 17767 – 17680 / 5417 – 5390 levels.
Daily Technical Report
Sensex (17814) / NIFTY (5430)
Exhibit 1: N ifty Daily Chart
Source: Falcon
Actionable points:
View Bullish Above 5439Expected Targets 5459 – 5505Support level 5417 – 5390
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Yesterday, Bank Nifty opened on a flat note and traded in
a narrow range throughout the day to close with a narrow
range body. However, on the daily chart we are
witnessing a positive crossover in “RSI Smoothened”
oscillator which is a sign of strength. There is no
significant change in the outlook based on the daily chart
and hence we reiterate our view that if the Bank Nifty
manages to sustain above 10786 then it is likely to rally
towards 10850 – 11035 levels. On the downside, the
support levels have been shifted to 10671 – 10543 forthe coming trading session.
Actionable points:
View Bull ish Above 10786Expected Targets 10850 - 11035Support Levels 10671 – 10543
Bank N ifty Outlook - (10686)
Exhibit 2: Bank Nifty Daily Chart
Source: Falcon
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Positive Bias:
Stock Name CMP 5 Day EMA 20 DayEMA
PositiveAbove
ExpectedTarget
Remarks
Ranbaxy 425.5 420.3 428.2 429 440View will change below
424
SterliteIndustries
120.3 117 119.2 121.6 130View will change below
115
AmbujaCement
168 164.3 164.6 170.5 178View will change below
162.5
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SCRIPS S2 S1 PIVOT R1 R2
SENSEX 17,616 17,715 17,779 17,878 17,942
NIFTY 5,372 5,401 5,420 5,449 5,468
BANKNIFTY 10,614 10,650 10,708 10,744 10,802
ACC 1,316 1,328 1,337 1,348 1,357
AMBUJACEM 159 164 167 171 175
AXISBANK 1,230 1,235 1,242 1,247 1,254
BAJAJ-AUTO 1,749 1,766 1,785 1,802 1,822
BHARTIARTL 333 336 339 342 345
BHEL 282 286 292 296 301
BPCL 656 662 669 674 681
CAIRN 369 373 377 381 385
CIPLA 301 304 307 310 313
COALINDIA 336 340 343 346 349
DLF 202 205 208 211 214
DRREDDY 1,682 1,689 1,699 1,706 1,717
GAIL 349 360 366 376 382
HCLTECH 490 498 504 511 517
HDFC 671 677 680 685 689
HDFCBANK 517 521 524 528 531
HEROMOTOCO 1,925 1,944 1,959 1,978 1,994
HINDALCO 136 139 141 143 145
HINDUNILVR 378 380 383 385 388
ICICIBANK 918 924 934 940 949
IDFC 146 147 150 151 154
INFY 2,829 2,845 2,857 2,872 2,885
ITC 206 208 209 210 211JINDALSTEL 573 592 610 629 647
JPASSOCIAT 79 81 83 85 86
KOTAKBANK 557 563 569 575 581
LT 1,345 1,353 1,364 1,372 1,383
M&M 644 650 659 666 675
MARUTI 1,327 1,348 1,366 1,387 1,405
NTPC 171 172 173 174 175
ONGC 275 281 285 291 295
PNB 964 970 978 985 993
POWERGRID 109 110 111 112 113
RANBAXY 413 419 424 430 435
RCOM 95 97 99 102 104RELIANCE 796 808 815 827 834
RELINFRA 637 644 653 659 668
RPOWER 134 136 137 139 140
SAIL 95 98 100 103 104
SBIN 2,298 2,313 2,331 2,346 2,365
SESAGOA 198 203 207 212 216
SIEMENS 792 799 809 816 826
STER 114 117 119 123 125
SUNPHARMA 567 575 583 591 599
SUZLON 27 28 29 30 31
TATAMOTORS 279 281 284 286 290
TATAPOWER 106 107 109 110 112
TATASTEEL 456 462 466 472 476
TCS 1,176 1,186 1,201 1,211 1,226
WIPRO 424 428 431 434 437
Technical Research Team
Daily Pivot Levels for Nif ty 50 Stocks
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Technical Report
RESEARCH TEAM
Shardul Kulkarni Head - Technicals
Sameet Chavan Technical Analyst
Sacchitanand Uttekar Technical Analyst
Mehul Kothari Technical Analyst
Ankur Lakhotia 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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