Daily Technical Report

December 11, 2012 

www.angelbroking.com 1

Sensex (19410) / NIFTY (5909)

The week began on a subdued note in-l ine with global

indices. Similar to previous trading session, yesterday also

we witnessed range bound activity with significantly lower

volumes. O nce again Realty counters outperformed the index

along with Healthcare sector; whereas the Consumer

Dura bles and IT sectors remained under pressure throug hout

the session. The advance to decline ratio was in favor of

advancing counters (A= 153 6 D = 14 06) (Source –

www.bseindia.com).

Formation

 

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

18 980 / 577 0 and 183 90 / 558 6 levels, respect ively.

 

O n the weekly chart, we are witnessing a b reakout from

‘Downward Sloping Trend Line’ joining two signif icant

swing h igh o f 1981 1 / 5944 (Apr i l 2011 ) and 19137 /  

5815 (Oct 2012) a t 19050 / 5800 leve l .

  The 78.60% Fibonacci retracement level of the fall from

November 5, 2010 ( the high was 21109 / 6339) to

December 23, 2011 ( the low was 15135 / 4531) is at

1 9 8 1 2 / 5 9 4 5 .

  O n the daily chart, we are observing a ‘H angin g Ma n’

candlestick pa ttern, occurred on D ecember 6 , 201 2.

Trading strategy: 

The opening session of the week ended on a flat note,

show ing lack of participa tion / interest by ma rket

participants. As a result, one more narrow range body

formation is seen on the daily chart. Since, there is no major

change in the chart structure; we reiterate our view that a

close below the low of the ‘Hang ing Ma n’ i .e. 191 86 / 58 39

would trigger short term pessimism in the market. As a

result, indices then may slide towards 19000 – 18900 / 

58 00 – 575 0 levels. O n the fl ipside, closing a bove Friday’s

high of 19562 / 5950 would certainly negate the bearish

implication of the ‘Hanging Man’ pattern. In this scenario,

we may witness an extended rally towards 20050 – 20218 / 

6000 – 6070 levels. Considering the overall weekly chart

structure we continue to remain positive on the market and

any corrective move towards 1900 0 – 189 00 / 580 0 – 575 0

levels should be used by positional traders as buying

opportunity.

Exhibit 1: N ifty Daily Chart

Source: Falcon: 

Actionable poin ts:

View for the day N eutral

Resistance Level 595 0 - 60 00

Supp ort Levels 588 9 – 58 00

 

 

Daily Technical Report

December 11, 2012  

www.angelbroking.com 2

Exhibit 2: Bank Ni fty Hourly Chart

Source: Falcon: 

Bank N ifty Outlook - (12382)

Yesterday, Bank Nifty opened on a flat note in l ine with our

benchmark indices and traded in a narrow range throughout

the session . We witnessed im men se buying interest in the

PSU a nd the mid / sma ll cap ba nking counters but the Bank

Nifty does not reflect the same degree of optimism. We

reiterate our view as long as the index holds the range of

12306 – 12481; the ongoing consolidation is l ikely to

continue. O nly a sustain ab le move outside this range will give

a clear direction. O n the upside 1243 9 – 12 48 1 a re l ikely to

act as resistance and 1 223 0 – 1 21 80 levels for the day.

Actionable poin ts:

View for the day N eutral

Resistance Levels 12 43 9 – 12 48 1

Support Levels 122 30 - 12 180

 

 

Daily Technical Report

December 11, 2012  

www.angelbroking.com 3

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS S2 S1 PIVO T R1 R2

SENSEX 19,301 19,355 19,417 19,471 19,532

NIFTY 5 ,874 5 ,891 5 ,906 5 ,923 5 ,938

BANKNIFTY 12,309 12,345 12,378 12,414 12,446

ACC 1 ,387 1 ,400 1 ,416 1 ,429 1 ,444

AMBUJACEM 205 206 207 208 209

ASIANPAINT 4 ,275 4 ,296 4 ,321 4 ,341 4 ,366

AXISBANK 1,304 1 ,313 1 ,325 1 ,334 1 ,345

BAJAJ-AUTO 1,907 1 ,934 1 ,953 1 ,980 1 ,998

BANKBARO DA 780 804 818 842 855

BHARTIARTL 309 314 320 324 330

BHEL 240 242 244 246 248

BPCL 346 351 356 361 366

CAIRN 320 323 329 332 337

CIPLA 405 411 415 421 425

COAL INDIA 358 361 364 366 370

DLF 217 219 222 225 228

DRREDDY 1,802 1 ,843 1 ,874 1 ,915 1 ,946

GAIL 349 351 355 358 361

GRASIM 3,135 3 ,168 3 ,214 3 ,248 3 ,294

HCLTECH 605 613 619 627 633

HDFC 820 843 857 879 893

HDFCBANK 686 690 693 696 700

HERO MO TOCO 1 ,816 1 ,829 1 ,838 1 ,851 1 ,860

H INDALCO 120 122 123 124 126

HINDUN ILVR 529 532 534 537 540

ICICIBANK 1,105 1 ,113 1 ,127 1 ,135 1 ,149

IDFC 167 170 173 176 179

INFY 2 ,274 2 ,294 2 ,319 2 ,339 2 ,364

ITC 296 299 301 304 306

JINDALSTEL 400 405 409 414 418

JPASSO CIAT 102 103 104 106 107

KOTAKBANK 656 665 671 679 685

LT 1 ,647 1 ,656 1 ,669 1 ,678 1 ,692

LUPIN 591 598 604 610 616

M & M 9 1 3 9 2 1 9 3 2 9 4 0 9 5 0

MARUTI 1 ,469 1 ,481 1 ,502 1 ,515 1 ,536

NTPC 154 155 158 159 162

O N G C 2 6 2 2 6 4 2 6 8 2 7 0 2 7 3

PNB 805 822 833 850 860

PO WERGRID 117 118 119 119 120

RANBAXY 501 504 508 511 514

RELIANCE 812 820 829 837 846

RELINFRA 506 512 516 522 526

SBIN 2 ,290 2 ,305 2 ,316 2 ,331 2 ,342

SESAGO A 178 183 187 192 195

SIEMENS 668 672 680 684 692

SUNPHARMA 688 696 703 712 719

TATAMO TO RS 273 277 281 285 290

TATAPO WER 106 107 109 111 112

TATASTEEL 392 396 399 403 405

TCS 1,209 1 ,223 1 ,245 1 ,259 1 ,281

ULTRACEMCO 1,927 1 ,937 1 ,951 1 ,961 1 ,975

WIPRO 375 379 384 388 393

 

 

Daily Technical Report

December 11, 2012  

www.angelbroking.com 4

Research Team Tel: 02 2 - 39 35 78 00 E-m ail: research@ang elbroking.com Web site: www.an gelbrok ing.com

DISCLAIMER

This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment

decision. N othing in this docum ent shou ld be construed a s investment or fina ncial advice. Each recipient of this documen t should m ake

such investigations as they deem necessary to arrive at a n ind ependent evaluation o f an investment in the securities of the comp anies

referred to in this docum ent (including the merits and risks involved), and should consult their own advisors to determine the m erits and

risks of such an investment.

Angel Broking Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make

investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this

do cument are those of the ana lyst, and the compa ny may o r m ay not subscribe to all the views expressed w ithin.

Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and

trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's

fundamentals.

The information in this document has been printed on the basis of publicly available information, internal data and other reliable

sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this

do cument is for general guida nce only. Angel Broking Limited o r any of its affiliates/ group comp anies shall not be in an y way

responsible for an y loss or d am age that m ay arise to any person from any inad vertent error in the informa tion contained in this report.

Angel Broking Limited ha s not independently verified all the informa tion contained w ithin this document. According ly, we cannot testify,

nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While

Angel Broking Limited endeavours to upda te on a rea sona ble ba sis the inform ation d iscussed in this material, there ma y be regulatory,

comp liance, or other reasons that prevent us from d oing so.

This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,

redistributed o r pa ssed o n, directly or indirectly.

Angel Broking Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or

other ad visory services in a m erger or specific transaction to the com pan ies referred to in this report, a s on the da te of this report or in

the pa st.

N either Angel Broking Limited, no r its directors, emp loyees or affiliates shall be liab le for any loss or d am age that m ay arise from o r in

connection with the use of this information.

N ote: Please refer to the im porta nt ` Stock H olding D isclosure' repo rt on the Ange l website (Research Section). Also, plea se refer to the

latest upda te on respective stocks for the disclosure status in respect of those stocks. Ange l Broking Limited a nd its affiliates ma y ha ve

investment p ositions in the stocks recom me nded in this repo rt. 

Research Team

Shard ul Kulkarni - Head – Technicals Sam eet Cha van - Technical Ana lyst

Sacchitana nd Uttekar - Technical Ana lyst

M ehul Kothari - Technical Ana lyst

Anku r Lak hotia - Technical Ana lyst

For a ny Q ueries, Suggestions and Feedback kindly ma il to sam eet.chavan@ ange lbroking.com

Ang el Broking Pvt. Ltd.Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.Co rporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mum bai - 4 00 093 . Tel: (022) 3952 660 0

Sebi Registration N o: IN B 01 09 96 53 9