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8/3/2019 Technical Report 27th January 2012
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Technical Research | January 27, 2012
On Wednesday, markets opened on a higher note for the
second consecutive session. After immense volatility on
account of derivative expiry for the January series, Indices
managed to close marginally above 17000 / 5150 mark.
On the sectoral front, Metal, PSU and Teck counters were
among the major gainers, whereas Capital goods ended
with a marginal loss. The advance to decline ratio was
strongly in favor of advancing counters. (A= 1808 D= 1040)
(Source -www.bseindia.com)
Formation:
• We are witnessing a positive crossover on weekly “RSI –
Smoothened” oscillator.
• Indices are now trading above a “Downward Sloping
Trend Line” joining July 8, 2011 high of 19132 / 5740 and
October 20, 2011 high of 17908 / 5400
• The 200-day SMA is now placed around 17356 / 5210
level.
Trading strategy:
We witnessed a very volatile session on Wednesday due to
derivative expiry. However, indices maintained their early
gains and managed to close above the “Downward Sloping
Trend Line” resistance. Thus Indices are likely to test 200-
day SMA placed around 17356 / 5210 level if they manage
to sustain above Wednesday’s high of 17130 / 5174 level.
However, we are now observing a “Narrow range body”
formation on daily chart, which indicates an uncertainty
among the bulls and the bears. Thus, if Wednesday’s low of
17016 / 5130 is violated, then indices are likely to drift
towards 16846 / 5080 level.
Daily Technical Report
Sensex (17077) / NIFTY (5158)
Exhibit 1: Ni fty Daily Chart
Source: Falcon
Actionable points:
View BearishSell Only below 5130Expected target 5080 – 5050Resistance levels 5174 - 5210
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On Wednesday, Bank Nifty opened on a flat note and
traded with immense volatility to close marginally below the
initial opening level. Similar to the benchmark indices, we
are now witnessing a narrow range body formation on the
daily charts, which is a sign of indecision prevailing at
current levels. Therefore, if the index manages to sustain
above Wednesday’s high of 9906 then it is likely to test
9967 – 10017 levels. At present, the momentum indicators
suggest that the Index is in an overbought condition and a
small correction cannot be ruled out. In such a scenario, ifBank Nifty sustains below Wednesday’s low of 9762 then it
is likely to test 9680 – 9550 levels.
Actionable points:
View Positive Above 9906
Expected TargetSupport Levels
9967 - 100179760 – 9680 - 9550
View Negative Below 9760
Expected Target
Resistance Levels
9680 - 9550
9906 – 9967 - 10017
Bank N ifty Outlook - (9857)
Exhibit 2: Bank Ni fty Daily Chart
Source: Falcon
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Positive Bias:
Stock Name CMP 5 Day EMA 20 Day EMA ExpectedTarget
Remarks
CromptonGreaves
142.3 137.8 133.5 147.5 View will change below 137
GMDC 185 180.8 174.6 193 View will change below 179
Negative Bias:
Stock Name CMP 5 Day EMA 20 Day EMAExpectedTarget
Remarks
Hero Motor 1853.9 1873.2 1857.4 1770 View will change above 1913
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SCRIPS S2 S1 PIVOT R1 R2
SENSEX 16,961 17,019 17,075 17,133 17,188
NIFTY 5,110 5,134 5,154 5,178 5,198
BANKNIFTY 9,699 9,778 9,842 9,921 9,985
ACC 1,151 1,162 1,179 1,191 1,208
AMBUJACEM 157 159 161 163 166
AXISBANK 998 1,031 1,053 1,086 1,109
BAJAJ-AUTO 1,548 1,568 1,589 1,609 1,629
BHARTIARTL 349 354 359 364 370
BHEL 276 279 282 285 288
BPCL 544 562 576 594 608
CAIRN 329 337 352 360 375
CIPLA 338 340 343 345 348
DLF 216 217 220 222 224
DRREDDY 1,616 1,633 1,644 1,661 1,672
GAIL 361 364 367 370 373
HCLTECH 410 415 423 428 436
HDFC 699 704 708 713 717
HDFCBANK 482 486 490 494 497
HEROMOTOCO 1,801 1,828 1,862 1,888 1,922
HINDALCO 138 140 143 145 148
HINDUNILVR 384 389 394 399 404
ICICIBANK 856 868 881 894 907
IDFC 125 127 129 131 132
INFY 2,605 2,636 2,655 2,686 2,705
ITC 204 205 206 207 208
JINDALSTEL 525 533 543 551 561
JPASSOCIAT 69 71 72 74 76
KOTAKBANK 476 486 492 502 508
LT 1,287 1,309 1,338 1,360 1,389
M&M 676 681 687 692 698
MARUTI 1,118 1,149 1,174 1,205 1,230
NTPC 173 174 175 176 178
ONGC 267 270 273 276 279
PNB 972 986 1,002 1,016 1,032
POWERGRID 99 100 101 102 103
RANBAXY 460 467 473 480 486
RCOM 92 94 96 98 99
RELCAPITAL 331 338 344 351 357RELIANCE 777 784 790 796 802
RELINFRA 461 487 503 529 544
RPOWER 93 95 97 99 100
SAIL 94 96 98 100 101
SBIN 2,015 2,037 2,061 2,083 2,107
SESAGOA 181 191 198 207 214
SIEMENS 736 745 757 765 778
STER 111 112 114 115 116
SUNPHARMA 511 514 518 521 525
SUZLON 26 27 27 28 28
TATAMOTORS 218 224 229 236 241
TATAPOWER 102 104 106 108 110TATASTEEL 429 437 442 450 455
TCS 1,081 1,089 1,100 1,108 1,119
WIPRO 413 416 419 423 426
Technical Research Team
Daily Pivot Levels for N ifty 50 Stocks
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Technical Report
RESEARCH TEAM
Shardul Kulkarni Head - Technicals
Sameet Chavan Technical Analyst
Sacchitanand Uttekar Technical Analyst
Mehul Kothari Technical Analyst
Ankur Lakhotia Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Research Team: 022-3952 6600 Website: www.angelbroking.com
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