Daily Technical Report, 19.03.2013

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Daily Technical Report

March 19, 2013

www.angelbroking.com 1

Sensex (19293) / NIFTY (5835)

The opening session of the week started off on a pessimistic

note in-line with weak global cues. Subsequently, indicetraded within a narrow trading range to eventually close in

the negative territory. Most of the sectors ended in the

negative territory except for the defensive counters in the

FMCG, Consumer Durables and Health Care space. The

advance to decline ratio was strongly in favor of declining

counters (A=1091 D=1757) (Source–www.bseindia.com)

Formation

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

19400 / 5865 and 19244 / 5830 levels, respectively.

Trading strategy:

After a gap down opening, indices oscillated within merel

half a percent trading range. Looking at the hourly chart, it i

seen that indices have a strong resistance of '20-EMA' and

'89-EMA' placed around 19396 / 5861 - 19366 / 5860

levels respectively. Only a move beyond these resistance

levels may attract intraday buyers in the market. In thi

scenario, indices may bounce towards 19492 - 19526 /

5895 - 5910. On the flipside, Yesterdays low of 19232 /

5814 poses as a key support level in the coming trading

sessions. Any sustainable move below this level would trigger

immense pessimism in the market and indices may re-tes

recent swing lows of 18931 – 18760 / 5712 – 5663. The

coming trading session is likely to trade with high volatility on

account of 'RBI Monetary' policy. Any decisive outcome fro

the event may dictate the near term direction for our market.

Exhibit 1: Nifty Daily Chart

Source: Falcon:

Actionable points:

View Bearish Below 5814

Expected target 5790 – 5750

Resistance levels 5860 - 5893




March 19, 2013


Bank Nifty Outlook - (11736)

Yesterday, Bank Nifty opened with a downside gap in linewith our benchmark indices and traded in a narrow range

throughout the session. We had mentioned in our previous

report that the momentum oscillators on the daily and

hourly chart are near the 50 mark and hence volatility is

set to rise. As there is no major change in the chart

structure we reiterate our view that volatility is set to rise in

the coming session as well. Traders are advised to stay

light on their positions on account of RBI monetary policy.

On the downside 11625 – 11555 levels are likely to act as

support whereas 11850 – 12059 levels are likely to act asresistance for the day.

Actionable points:

View Neutral

Resistance Levels 11850 - 12059

Support Levels 11625 - 11555

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:




March 19, 2013


Daily Pivot Levels for N ifty 50 StocksSCRIPS S2 S1 PIVOT R1 R2

SENSEX 19,177 19,235 19,290 19,348 19,403

NIFTY 5,797 5,816 5,833 5,852 5,869

BANKNIFTY11,539 11,637 11,724 11,822 11,909

ACC 1,194 1,210 1,235 1,251 1,276

AMBUJACEM 177 179 184 186 190

ASIANPAINT 4,908 4,955 4,993 5,040 5,078

AXISBANK 1,283 1,304 1,320 1,341 1,358

BAJAJ-AUTO 1,768 1,790 1,826 1,848 1,885

BANKBARODA 706 712 718 725 731

BHARTIARTL 297 302 306 312 316

BHEL 193 195 196 197 199

BPCL 385 389 392 396 399

CAIRN 287 292 295 300 303

CIPLA 376 384 388 396 400

COALINDIA 295 298 304 308 313

DLF 264 267 269 272 275

DRREDDY 1,767 1,785 1,804 1,822 1,841

GAIL 307 310 316 319 325

GRASIM 2,890 2,919 2,954 2,983 3,018

HCLTECH 778 790 798 810 817

HDFC 801 805 811 815 821

HDFCBANK 618 631 642 655 666

HEROMOTOCO 1,660 1,675 1,685 1,700 1,710

HINDALCO 92 94 95 96 98

HINDUNILVR 450 457 462 468 473

ICICIBANK 1,027 1,039 1,048 1,060 1,068IDFC 149 150 153 155 158

INFY 2,828 2,845 2,867 2,884 2,906

ITC 299 301 303 306 308

JINDALSTEL 346 350 354 358 362

JPASSOCIAT 72 73 74 75 76

KOTAKBANK 642 648 657 663 672

LT 1,460 1,485 1,503 1,529 1,547

LUPIN 596 605 613 622 630

M&M 899 906 916 924 934

MARUTI 1,332 1,347 1,370 1,385 1,408

NTPC 143 145 145 147 147

ONGC 311 314 318 321 324

PNB 776 785 795 804 813

POWERGRID 108 109 109 109 109

RANBAXY 424 429 434 439 444

RELIANCE 824 829 836 842 849

RELINFRA 407 409 413 416 419

SBIN 2,222 2,236 2,247 2,262 2,273

SESAGO A 159 160 162 164 165

SIEMENS 554 569 579 593 603

SUNPHARMA 820 826 834 840 848

TATAMOTORS 282 285 287 290 292

TATAPOWER 96 97 99 100 102 TATASTEEL 344 346 349 352 355

TCS 1,546 1,556 1,565 1,576 1,584

ULTRACEMCO 1,874 1,889 1,913 1,928 1,952

WIPRO 427 430 436 439 444




March 19, 2013

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Daily Technical Report, 19.03.2013

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