Technical Report 15th May 2012
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Transcript of Technical Report 15th May 2012
7/31/2019 Technical Report 15th May 2012
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Daily Technical Report
May 15, 2012
Sensex (16216) / NIFTY (4908)
Yesterday, we witnessed a quiet opening on the backof mix global cues. However, inflation data
disappointed the street and markets tumbled down to
test mentioned support level of 16000 – 4850. A
minor recovery during the second half of the session
led indices to close just above 4900 mark. On the
sectoral front, O il & Gas, Banking and Realty were
among the major losers; whereas Health Care and IT
sectors ended marginally in the positive territory. The
advance to decline ratio was strongly in favor of
declining counters (A= 1047 D= 1657) (Source –
www.bseindia.com)
Formation
The 200-day SMA (Simple Moving Average) and
20-day EMA (Exponential Moving Average) have
now shifted to 16920 / 5100 and 16940 /
5130, respectively.
The ‘20-Week EMA’ is placed at 17100 / 5180
level.
Indices have now tested 16430 / 4950 level,which is the 61.8 % Fibonacci Retracement level
of the rise from 15135 / 4531 (Low on
December 23, 2011) to 18524 / 5630 (High on
February 22, 2012).
Trading strategy:
Yesterday, selling pressure dragged indices
significantly lower to test mentioned support level of
16000 / 4850. Going forward, we reiterate thatconsidering oversold position of momentum
oscillators on the daily chart, it is not advisable to
create fresh short position at this juncture. However,
loss of momentum or an oversold condition in the
momentum oscillators does not necessarily signal a
price reversal. Hence, only a move beyond yesterday's
high of 16390 / 4957 may provide bounce for the
markets up to 16447 - 16700 / 4976 -5050 levels.
On the downside, 16000 - 15860 / 4850 - 4800
levels are likely to act as decent support for the
markets.
Exhibit 1: N ifty Daily Chart
Source: Falcon
Actionable poin ts:
View Neutral
Resistance Level 4957 – 5050
Support Levels 4850 – 4800
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Daily Technical Report
May 15, 2012
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Bank N ifty Outlook - (9258)
Yesterday, Bank Nifty opened on a flat note and
selling pressure lead the index to test the lower end of
the mentioned range of 9700 – 9200. The “SpinningTop” candlestick pattern mentioned in our previous
report has been negated as the index managed to
give a close below 9296 level. However, in line with
the benchmark indices the momentum oscillators on
the daily chart continue to remain in an oversold
zone. The “Positive divergence” in momentum
oscillator “RSI” on the hourly chart mentioned in our
previous report is still intact. We reiterate that the
Bank Nifty is likely to trade in the mentioned range of
9200 – 9700. Within the mentioned range, 9380 –
9536 are likely to act as temporary resistance levels.
Only a close below 9200 will signal further weakness
in the index.
Actionable points:
View Neutral
Resistance Levels 9380 – 9536
Support Levels 9200 – 9106
Exhibit 2: Bank Ni fty Daily Chart
Source: Falcon
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Daily Technical Report
May 15, 2012
Dai ly Pivot Levels for N ifty 50 Stocks
SCRIPS S2 S1 PIVOT R1 R2
SENSEX 15,978 16,097 16,244 16,363 16,509
NIFTY 4,830 4,869 4,913 4,952 4,996
BANKNIFTY 9,007 9,132 9,316 9,441 9,624
ACC 1,129 1,151 1,169 1,192 1,210
AMBUJACEM 138 141 144 147 150
ASIANPAINT 3,509 3,603 3,669 3,763 3,829
AXISBANK 957 977 995 1,016 1,034
BAJAJ-AUTO 1,531 1,559 1,579 1,607 1,627
BANKBARODA 596 610 633 647 669
BHARTIARTL 299 303 307 311 315
BHEL 208 213 218 223 229
BPCL 698 706 711 719 724
CAIRN 289 296 308 315 327
CIPLA 309 315 319 324 328
COALINDIA 311 313 317 320 323
DLF 175 179 184 188 193DRREDDY 1,630 1,651 1,673 1,694 1,716
GAIL 311 315 319 323 328
GRASIM 2,279 2,307 2,346 2,374 2,413
HCLTECH 466 476 483 492 499
HDFC 631 638 644 651 657
HDFCBANK 484 492 502 510 520
HEROMOTOCO 1,794 1,819 1,843 1,868 1,893
HINDALCO 107 110 113 115 118
HINDUNILVR 429 431 433 436 438
ICICIBANK 775 788 809 822 843
IDFC 114 116 120 122 126
INFY 2,288 2,314 2,330 2,355 2,371
ITC 230 232 234 236 238
JINDALSTEL 431 444 457 470 482
JPASSOCIAT 58 60 62 63 65
KOTAKBANK 524 532 539 547 553
LT 1,067 1,113 1,156 1,202 1,244
M&M 645 651 660 666 676
MARUTI 1,220 1,235 1,246 1,261 1,272
NTPC 144 146 148 150 152
ONGC 245 248 251 255 257
PNB 699 711 734 746 768
POWERGRID 99 100 101 102 103RANBAXY 470 479 485 494 499
RELIANCE 663 672 688 697 712
RELINFRA 442 451 466 475 489
SAIL 83 85 88 90 92
SBIN 1,768 1,804 1,850 1,886 1,932
SESAGOA 174 177 180 184 186
SIEMENS 691 702 710 721 729
STER 91 93 95 97 99
SUNPHARMA 555 566 574 585 593
TATAMOTORS 277 284 292 299 307
TATAPOWER 89 92 93 96 97
TATASTEEL 394 401 409 416 425
TCS 1,213 1,219 1,227 1,233 1,241
WIPRO 395 399 403 407 411
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Daily Technical Report
May 15, 2012
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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Research Team
Shardul Kulkarni - Head – Technicals Sameet Chavan - Technical Analyst
Sacchitanand Uttekar - Technical Analyst
Mehul Kothari - Technical Analyst
Ankur Lakhotia - Technical Analyst
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