DailyTech Report 19.07.12

7/31/2019 DailyTech Report 19.07.12

1/4

www.angelbroking.com 1

Daily Technical Report

July 19, 2012

Sensex (17185) / NIFTY (5216)

We witnessed yet another flat opening during

yesterdays session on the back of mixed global cues

but a minor up move during the second half led

indices to close abo ve 520 0 m ark. O n the sectoral

front, the buying interest was seen in Metal, Capital

G ood s and Realty counters; whereas O il & G as and

Health Ca re ended with a m arg inal loss. The advance

to decline ratio was marginally in favor of advancing

counters (A= 14 07 D= 137 2) (Source

www.bseindia.com).

Formation

The weekly 61.8% Fibonacci retracement of thefa l l f rom 18524 /5630 (February 22, 2012)

157 49 / 477 0 (June 4, 2012) is seen at 17464 /

5302 .

O n the weekly chart, we are witnessing aDownward Sloping Trend Line resistance near

17687 / 5386 formed by jo in ing the h ighs of

21109 / 6339 (November 5, 2010) 18524 /

56 30 (February 24 , 201 2).

A horizontal consolidation band is observed inthe range o f 17034 / 5159 and 1763 5 / 5350.

The 20 day EMA is placed at 17200 / 5218level.

Trading strategy:

Yesterday, after a flat opening our b enchmark indices

drifted lower to test the gap area of (17135 - 17034 /

5189 5159 levels) formed on 29 thJune 2012. As

expected and mentioned in our previous report,

indices found support near the gap area in the later

half a nd witnessed sma rt recovery from the days low

to close above 5200 mark. Going forward, on the

upside Mondays h igh of 17282 / 5247 may act as

an immediate intraday resistance level. A sustainable

m ove abo ve this ma rk m ay push indices higher to test

173 43 1746 7 / 5267 530 0 levels. On the

downside, 17034 / 5159 now remains crucial

supp ort for the ma rkets.

Exhibit 1: N ifty Daily Chart

Source: Falco n

Actionable poin ts:

View Bullish abo ve 52 23

Expected Targets 524 7 526 7 - 530 0

Supp ort Levels 51 59


2/4


July 19, 2012


Bank N ifty Outlook - (10607)

Yesterday, Bank Nifty opened on a flat note and

drifted lower during the first half of trade. However,

during second half buying emerged near the supportlevel which led the index to close higher. We had

mentioned in our previous report that RSI

Smoothened oscillator on the hourly chart is placed

in oversold condition and a pullback cannot be ruled

ou t. O n the upside, the Index now faces resistance at

the 10673 mark. A move beyond this resistance may

lead the Index to rise further to 10 72 1 107 82 levels.

O n The downside, 105 00 m ay act as suppo rt for the

com ing trading sessions.

Actionable points:

View Bullish Above 10 67 3

Expected targets 107 21 107 82

Supp ort Level 10 50 0

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon


3/4



July 19, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 16,976 17,081 17,143 17,247 17,310

NIFTY 5,149 5,183 5,203 5,236 5,257

BANKNIFTY 10,448 10,527 10,578 10,658 10,709

ACC 1,225 1,246 1,264 1,285 1,303

AM BUJACEM 165 168 170 172 174

ASIANPAINT 3,582 3,624 3,651 3,693 3,720

AXISBANK 1,015 1,027 1,034 1,046 1,053

BAJAJ-AUTO 1,390 1,456 1,490 1,556 1,590

BANKBARODA 701 708 720 728 740

BHARTIARTL 311 318 322 329 333

BHEL 218 224 227 233 237

BPCL 371 374 378 381 385

CAIRN 311 313 315 317 319

CIPLA 324 327 331 334 338

COALINDIA 353 357 359 363 366

DLF 198 202 204 208 211DRREDDY 1,630 1,651 1,683 1,704 1,736

GAIL 349 352 355 358 361

GRASIM 2,549 2,588 2,616 2,656 2,684

HCLTECH 465 471 477 483 489

HDFC 680 684 686 689 692

HDFCBANK 577 582 585 590 594

HEROM OTOCO 2,035 2,075 2,099 2,139 2,163

HINDALCO 117 119 120 121 123

HINDUN ILVR 441 444 446 448 450

ICICIBANK 916 928 935 946 954

IDFC 132 134 136 138 140

INFY 2,151 2,165 2,177 2,191 2,203

ITC 252 254 255 257 258

JINDALSTEL 407 417 423 432 438

JPASSOCIAT 75 76 76 77 78

KOTAKBANK 580 587 592 599 605

LT 1,349 1,375 1,390 1,416 1,431

M &M 6 8 6 6 9 8 7 0 5 7 1 6 7 2 4

M ARUTI 1,172 1,199 1,214 1,241 1,256

NTPC 155 156 157 158 160

ONGC 281 283 286 288 291

PNB 812 822 840 850 868

POWERGRID 110 110 112 112 113RANBAXY 480 484 491 495 502

RELIANCE 707 711 717 721 726

RELINFRA 501 515 524 538 547

SAIL 91 92 93 94 95

SBIN 2,143 2,164 2,183 2,205 2,224

SESAGOA 184 187 190 193 196

SIEM ENS 676 681 685 689 694

STER 100 102 103 105 106

SUNPHARM A 620 624 628 631 636

TATAMOTORS 216 219 221 224 227

TATAPOW ER 94 96 98 100 102

TATASTEEL 400 406 410 416 419

TCS 1,167 1,181 1,193 1,207 1,219

W IPRO 361 363 365 367 369


4/4

www angelbroking com 4


July 19, 2012

Research Team Tel: 02 2 - 39 35 78 00 E-m ail: research@a ngelbroking .com Website: www.a ngelbrok ing.com

D ISC LAIM ER

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

decision. N othing in this document should be construed as investment or fina ncial advice. Each recipient of this document should m ake

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

do cument are those of the ana lyst, and the compa ny ma y or m ay no t subscribe to a ll the views expressed w ithin.

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

do cument is for general guida nce only. Angel Broking Limited or any of its affiliates/ group comp anies shall not be in an y 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 ind ependently verified all the informa tion contained w ithin this document. According ly, 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 endeavours to upda te on a rea sonab le basis the informa tion discussed in this material, there ma y be regulatory,

comp liance, or other reasons that prevent us from do ing 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 o n, d irectly or indirectly.

Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or

other ad visory services in a m erger or specific transaction to the com panies referred to in this report, as on the date of this report o r in

the pa st.

N either Angel Broking Limited, nor its directors, employees or a ffiliates shall be liable for any loss or d am age that ma y arise from or in

connection with the use of this inform ation.

N ote: Plea se refer to the im portan t ` Stock H olding D isclosure' report on the Ange l website (Research Section). A lso, p lease refer to the

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

investment p ositions in the stocks recomm ende d in this report.

Research Team

Shard ul Kulkarni - Head TechnicalsSam eet Ch avan - Technica l Ana lyst

Sacchitana nd Uttekar - Technica l Ana lyst

M ehul Kothari - Technica l Ana lyst

Anku r Lakhotia - Technica l Ana lyst

For any Q ueries, Sugge stions an d Feedba ck kindly m ail to sa m eet.chavan@ an gelbroking.com

Ang el Broking Pvt. Ltd.

Registered O ffice: G-1 , Ackruti Trade Centre, Rd. N o. 7, M IDC, And heri (E), M umba i - 400 09 3.

Co rporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mum bai - 4 00 093 . Tel: (022) 3952 660 0

Sebi Registration N o: IN B 010 99 65 39

Documents

DailyTech Report 19.07.12