DailyTech Report 25.07.12

7/31/2019 DailyTech Report 25.07.12

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Daily Technical Report

July 25, 2012

Sensex (16918) / NIFTY (5128)

Yesterday, our markets opened on a flat note in-line

with other Asian markets and subsequently traded in

a narrow range to close marginally in the positive

territory. O n the sectoral front, FMC G , Con sum er

Dura bles and O il & Ga s counters bounced back

during yesterdays session; whereas Capital Goods, IT

and Teck sectors remained under pressure. The

advance to decline ratio was marginally in favor of

declining counters (A= 139 1 D= 139 5) (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).

The 20-day EMA and 20-week EMA arep laced a t 17200 / 5218 and 17000 / 5155

level, respectively.

Trading strategy:

Despite extreme negative overnight cues from

European and US markets, our markets opened on a

quiet note and traded sideways throughout the

session. As expected, 200-day SMA provided decent

support for the markets during yesterdays session.Going forward, we continue to mention 16808 /

5098 level as an important support level for the

markets. If indices sustain below this level then they

ma y sl ide further down to test 1663 6 / 504 1. O n the

upside, Mondays high of 17048 / 5164 remains to

be a strong immediate resistance in coming trading

session. O nly a sustaina ble m ove abo ve this level

may lead to some upside and then indices may move

upwards to test 17 142 17205 / 51 97 521 9 level.

Exhibit 1: N ifty Daily Chart

Source: Falco n

Actionable poin ts:

View N eutral

Resistance 51 64 51 97

Supp ort Levels 509 8 50 41


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July 25, 2012


Bank N ifty Outlook - (10299)

Yesterday, Bank Nifty opened on a flat note and

traded in a narrow range throughout the session. Wehad mentioned in our previous report that the

momentum oscillators on the hourly chart are placed

in oversold cond itions and a bo unce back in the index

is likely. We ar e now witnessing a neg ative crossover

in 5 & 20 EMA on the daily chart which is a cause

of concern. O n the flip side we are witnessing a

Bullish Harami candlestick pattern. This pattern

needs confirmation in the form of a close above the

10350 mark. Considering these technical

observations we expect the coming trading session to

be volat ile. On the upside 104 23 104 73 levels are

likely to act as resistance and on the downside 10200

1 0160 levels are li ke ly to act as support fo r the day.

Actionable points:

View N eutral

Resistance Levels 10 42 3 10 47 3

Support Level 102 00 10 160

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon


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July 25, 2012

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 16,784 16,851 16,907 16,974 17,030

NIFTY 5,084 5,106 5,125 5,147 5,166

BANKNIFTY 10,183 10,241 10,295 10,353 10,407

ACC 1,241 1,255 1,266 1,281 1,292

AM BUJACEM 165 166 169 171 173

ASIANPAINT 3,506 3,536 3,581 3,612 3,657

AXISBANK 1,024 1,033 1,039 1,048 1,054

BAJAJ-AUTO 1,534 1,547 1,563 1,576 1,592

BANKBARODA 675 681 686 692 697

BHARTIARTL 297 303 306 312 315

BHEL 213 215 218 220 223

BPCL 365 368 374 377 383

CAIRN 317 320 324 327 331

CIPLA 321 324 327 329 333

COALINDIA 351 353 356 358 360

DLF 194 198 200 203 206DRREDDY 1,588 1,608 1,623 1,643 1,658

GAIL 334 339 342 346 350

GRASIM 2,559 2,584 2,625 2,650 2,690

HCLTECH 468 474 478 485 489

HDFC 669 672 675 677 681

HDFCBANK 567 570 574 578 581

HEROM OTOCO 2,004 2,020 2,042 2,057 2,080

HINDALCO 114 116 117 118 119

HINDUN ILVR 441 458 468 486 496

ICICIBANK 904 910 916 922 928

IDFC 128 129 131 133 135

INFY 2,135 2,152 2,182 2,199 2,229

ITC 247 248 250 252 254

JINDALSTEL 408 411 416 419 424

JPASSOCIAT 71 73 74 75 76

KOTAKBANK 532 538 548 555 565

LT 1,325 1,340 1,366 1,381 1,406

M &M 6 7 3 6 7 9 6 9 0 6 9 6 7 0 6

M ARUTI 1,070 1,088 1,104 1,122 1,137

NTPC 151 152 153 154 155

ONGC 278 281 284 288 291

PNB 798 802 808 813 818

POWERGRID 107 109 111 113 114RANBAXY 471 480 485 494 500

RELIANCE 715 720 723 728 732

RELINFRA 499 504 510 515 521

SAIL 87 88 90 91 93

SBIN 2,062 2,079 2,097 2,113 2,131

SESAGOA 180 183 185 188 190

SIEM ENS 658 663 667 672 676

STER 99 100 102 103 105

SUNPHARM A 599 604 611 616 623

TATAMOTORS 211 214 216 218 220

TATAPOW ER 95 96 97 98 99

TATASTEEL 389 393 398 402 406

TCS 1,187 1,198 1,208 1,220 1,230

W IPRO 334 340 347 352 359


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July 25, 2012

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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

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DailyTech Report 25.07.12