daily technical report, 14.02.2013

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Daily Technical Report

February 14, 2013

www.angelbroking.com 1

Sensex (19608) / NIFTY (5933)

Yesterday, our benchmark indices opened with a gap and

then moved further higher during the init ial hour of thesession to precisely test the '20-day EMA'. However, markets

pared down most of the early gains due to immense sel l ing

pressure in the second half to eventually close with very

nominal gains. Power, Metals and Reality counters were

among the major losers in yesterday’s trading session.

Whereas IT and Teck stocks were on the gaining side. The

advance to decline ratio was strongly in favor of declining

counters (A= 892 D= 12 29 ) (Source –www.bseindia.com).

Formation

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

19 711 / 597 2 an d 19 200 / 58 24 levels, respect ively.

The Nifty has broken down from the ‘Upward Sloping

Trend line’ (as show n in the char t).

The weekly ‘RSI Smoothened’ is now signaling a

neg ative crossover.

Trading strategy:

Tuesday strong closing followed by an optimistic opening

and indices carried this positive momentum throughout the

first half. N evertheless, a s expected, in dices faced

tremendous resistance near '20-da y EM A' placed a t 19 71 1 /

5972. Hence, we witnessed considerable correction post mid

- session. The daily chart now depicts a 'Narrow Range Body'

form ation. The occurrence of said p attern near '20-da y EM A'

indicates uncertainty among market participants. Going

forward, any sustainable move below yesterday's low of

195 74 / 592 2 m ay trigger further pessimism in the market.

In this scenario, indices may slide towards the recent swing

low of 1 941 4 / 58 79. O n the f l ipside, any sustainable move

beyond yesterday's high of 19723 / 5970 would negate the

pattern and indices may then ral ly towards 197 68 - 1 986 5 /

5991 - 6025 .

Exhibit 1: N ifty Daily Chart

Source: Falcon:

Actionable poin ts:

View Bearish Below 5 92 2

Expected Targets 58 79 – 58 40

Resistance Levels 59 53 - 59 79




February 14, 2013


Bank N ifty Outlook - (12385)

Yesterday, Bank N ifty opened o n a flat note and traded in a

narro w range d uring first half of the session. However, in

line with the benchmark indices selling pressure in the

second half led the index to close with a marginal loss of

0.16%. The ‘Inside day’ candlestick pattern mentioned in our

previous reports stil l hold it significance and will be negated

if the index closes below 12245 level. Thus going forward,

although the prima ry bias rema ins negative, we believe that

the ongoing consolidation is likely to continue so long as the

122 45 level holds. O n the upside 1250 0 – 1253 3 levels are

l ikely to act as resistance and 12337 – 12301 levels are

likely to a ct as sup po rt for the d ay.

Actionable poin ts:

View N eutral

Resistance Levels 12 50 0 – 12 53 3

Support Levels 123 37 – 123 01

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon:




February 14, 2013


Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SEN SEX 19 ,486 19 ,547 19 ,635 19 ,696 19 ,784

NIFTY 5 ,895 5 ,914 5 ,942 5 ,961 5 ,988

BANKNIFTY12 ,287 12 ,336 12 ,411 12 ,460 12 ,535

AC C 1,179 1 ,214 1 ,238 1 ,273 1 ,297

AMBUJACEM 1 8 6 1 8 8 1 9 1 1 9 3 1 9 6

ASIANPAINT 4 ,421 4 ,446 4 ,486 4 ,510 4 ,550

AXISBAN K 1,461 1 ,469 1 ,481 1 ,489 1 ,501

BAJAJ-AUTO 1,971 1 ,995 2 ,039 2 ,062 2 ,106

BANKBARO DA 7 4 9 7 5 5 7 6 5 7 7 1 7 8 2

BHARTIARTL 3 1 9 3 2 2 3 2 6 3 3 0 3 3 4

BHEL 2 0 2 2 0 4 2 0 7 2 0 9 2 1 2

BPCL 3 9 0 3 9 6 4 0 4 4 1 0 4 1 8

CAIRN 3 1 0 3 1 2 3 1 6 3 1 9 3 2 2

CIPLA 3 7 9 3 8 4 3 9 0 3 9 4 4 0 0

COALINDIA 3 3 8 3 4 3 3 4 6 3 5 1 3 5 3

D LF 2 4 7 2 5 3 2 6 2 2 6 7 2 7 6

DRREDDY 1,852 1 ,879 1 ,899 1 ,926 1 ,946

GAIL 3 1 9 3 2 4 3 2 9 3 3 4 3 3 9

G RASIM 2 ,997 3 ,021 3 ,039 3 ,063 3 ,081

HCLTECH 6 7 0 6 8 9 7 0 2 7 2 2 7 3 4

HDFC 7 9 7 8 0 6 8 1 2 8 2 1 8 2 6

HDFCBANK 6 5 6 6 6 0 6 6 4 6 6 8 6 7 2

HERO MO TO CO 1,605 1 ,650 1 ,680 1 ,725 1 ,755

HINDALCO 1 0 8 1 0 9 1 1 1 1 1 3 1 1 5

HINDUNILVR 4 5 0 4 5 3 4 5 6 4 5 9 4 6 3

ICICIBANK 1,125 1 ,134 1 ,140 1 ,149 1 ,155IDFC 1 5 5 1 5 6 1 5 8 1 5 9 1 6 1

INFY 2 ,725 2 ,757 2 ,777 2 ,809 2 ,829

ITC 2 9 6 2 9 8 3 0 1 3 0 4 3 0 7

JIND ALSTEL 3 8 0 3 8 4 3 9 1 3 9 6 4 0 2

JPASSO CIA T 67 69 72 74 77

KOTAKBAN K 6 5 7 6 6 2 6 7 0 6 7 6 6 8 4

LT 1 ,458 1 ,470 1 ,490 1 ,502 1 ,522

LUPIN 5 8 3 5 8 9 5 9 8 6 0 3 6 1 2

M &M 8 7 5 8 8 6 8 9 4 9 0 5 9 1 3

MARUTI 1 ,504 1 ,518 1 ,544 1 ,558 1 ,584

N TPC 1 4 7 1 4 7 1 4 8 1 4 9 1 5 0

O N G C 3 1 7 3 2 0 3 2 3 3 2 7 3 3 0

PN B 8 3 4 8 4 2 8 5 6 8 6 4 8 7 8

PO WERG RID 1 0 6 1 0 8 1 1 1 1 1 4 1 1 7

RAN BAXY 4 1 7 4 2 0 4 2 5 4 2 8 4 3 3

RELIAN CE 8 6 4 8 7 2 8 8 0 8 8 7 8 9 5

RELIN FRA 4 6 1 4 7 0 4 8 5 4 9 4 5 0 9

SBIN 2 ,193 2 ,224 2 ,273 2 ,304 2 ,354

SESAG O A 1 6 1 1 6 3 1 6 8 1 7 0 1 7 5

SIEM ENS 5 9 2 5 9 8 6 0 9 6 1 5 6 2 6

SUNPHARMA 7 6 5 7 7 0 7 7 5 7 8 0 7 8 5

TATAMO TORS 2 9 8 3 0 1 3 0 7 3 1 0 3 1 6

TATAPO WER 91 93 95 96 99

TATASTEEL 3 6 7 3 7 2 3 8 0 3 8 4 3 9 2

TC S 1,391 1 ,413 1 ,427 1 ,450 1 ,464

ULTRACEMCO 1,888 1 ,916 1 ,932 1 ,960 1 ,976

WIPRO 4 0 1 4 0 5 4 1 1 4 1 5 4 2 0




February 14, 2013

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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daily technical report, 14.02.2013

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