DailyTech Report 05.06.12

7/31/2019 DailyTech Report 05.06.12

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Daily Technical Report

June 05, 2012

Sensex (15988) / NIFTY (4848)

Yesterday, we witnessed a weak opening on the back

of extremely negative clues from European and US

bourses. Further, markets remained under pressure

for the initial hour of the session. However, indices

bounced back sharply from the lows to close at the

highest point of the day. On sectoral front, Capital

Goods, Realty, Oil & Gas and Banking counters

bounced back sharply; whereas Consumer Durable

and FMCG ended on a losing side. The advance to

decline ratio was strongly in favor of declining

counters (A= 1204 D= 1449) (Source –

www.bseindia.com)

Formation

The 200-day SMA (Simple Moving Average) and

20-day EMA (Exponential Moving Average) have

now shifted to 16800 / 5070 and 16360 /

4960, respectively.

The ‘20-Week EMA’ is placed at 16840 / 5100

level.

Indices have taken a support near 15860 /

4766 level, which is the 78.6% Fibonacci

Retracement level of the rise from 15135 / 4531

(Low on December 23, 2011) to 18524 / 5630

(High on February 22, 2012).

The hourly ‘RSI-Smoothened’ oscillator is

signal ing a positive crossover.

Trading strategy:

Indices opened significantly lower during yesterday's

session to test the 78.6% Fibonacci retracement level

as mentioned above. Markets found decent support

near this level and bounced back sharply to close at

the highest point of the day. Going forward, hourly

20 EMA placed at 16026 / 4861 would act as an

important resistance level. A sustainable move

beyond this level would further augment the bullish

momentum. In this case, indices are likely to rally

towards 16147 - 4895 / 16240 - 4925 levels.

Exhibit 1: N ifty Daily Chart

Source: Falcon

Actionable poin ts:

View Bullish above 4861

Expected target 4895 - 4925

Support Levels 4814 - 4770

Conversely, yesterday's low of 15748 / 4770 holds

as a key support level for the market. A violation of

this level may result in a fall towards 15678 / 4695

levels.




June 05, 2012


Bank N ifty Outlook - (9362)

Yesterday, Bank Nifty opened with a downside gap

but buying interest near support levels led the index to

close in the positive territory. We had mentioned inour previous that momentum oscillators on the hourly

chart are in an oversold condition and possibility of a

bounce back cannot be ruled out. Looking at the

current chart structure and “Piercing Line” candlestick

pattern on the daily chart we expect volatility in

coming trading session. If the index manages to

sustain above yesterday’s high of 9406 then it is likely

to rally further towards 9493 – 9526 levels. On the

downside 9245 – 9157 levels may act as support in

coming trading session.

Actionable points:

View Neutral

Resistance Levels 9406 – 9493 - 9526

Support Levels 9245 - 9157

Exhibit 2: Bank Ni fty Daily Chart

Source: Falcon





June 05, 2012

Dai ly Pivot Levels for N ifty 50 Stocks

SCRIPS S2 S1 PIVOT R1 R2

SENSEX 15,663 15,829 15,915 16,082 16,168

NIFTY 4,742 4,798 4,826 4,881 4,909

BANKNIFTY 9,010 9,186 9,287 9,463 9,563

ACC 1,092 1,108 1,121 1,138 1,150

AMBUJACEM 145 148 150 153 155

ASIANPAINT 3,593 3,638 3,706 3,752 3,820

AXISBANK 925 956 976 1,008 1,027

BAJAJ-AUTO 1,433 1,465 1,485 1,516 1,536

BANKBARODA 627 653 669 695 710

BHARTIARTL 285 290 295 300 306

BHEL 201 204 206 208 210

BPCL 671 694 707 730 743

CAIRN 290 298 305 314 320

CIPLA 300 303 305 307 310

COALINDIA 312 316 319 323 327

DLF 163 175 181 192 199DRREDDY 1,578 1,600 1,623 1,645 1,667

GAIL 309 314 322 327 334

GRASIM 2,177 2,210 2,242 2,275 2,308

HCLTECH 471 482 489 500 507

HDFC 633 636 639 642 644

HDFCBANK 480 488 493 501 507

HEROMOTOCO 1,790 1,814 1,829 1,853 1,868

HINDALCO 111 113 115 117 119

HINDUNILVR 403 408 414 418 424

ICICIBANK 756 773 784 800 811

IDFC 115 118 120 122 124

INFY 2,324 2,355 2,376 2,406 2,427

ITC 226 228 231 233 236

JINDALSTEL 405 411 418 423 431

JPASSOCIAT 58 61 63 67 68

KOTAKBANK 525 536 543 554 561

LT 1,080 1,127 1,153 1,200 1,226

M&M 631 641 646 655 660

MARUTI 1,039 1,053 1,066 1,080 1,093

NTPC 140 142 143 145 147

ONGC 240 247 251 258 262

PNB 702 721 732 751 763

POWERGRID 101 103 104 105 106RANBAXY 474 482 487 494 499

RELIANCE 664 678 688 702 711

RELINFRA 405 421 433 449 461

SAIL 88 90 91 93 95

SBIN 1,945 1,995 2,025 2,075 2,105

SESAGOA 173 175 178 180 183

SIEMENS 611 638 657 683 702

STER 87 88 89 90 91

SUNPHARMA 554 559 564 570 575

TATAMOTORS 212 221 226 234 239

TATAPOWER 88 89 90 91 93

TATASTEEL 383 393 400 410 417

TCS 1,189 1,201 1,208 1,221 1,228

WIPRO 389 393 398 401 406



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June 05, 2012

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DailyTech Report 05.06.12