Daily Technical Report

March 19, 2013

Sensex (19293) / NIFTY (5835)

The opening session of the week started off on a pessimistic note in-line with weak global cues. Subsequently, indices traded 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) (Sourcewww.bseindia.com)

Exhibit 1: Nifty Daily Chart

Formation
The 20-day EMA and the 20-week EMA are placed at 19400 / 5865 and 19244 / 5830 levels, respectively.

Trading strategy:
After a gap down opening, indices oscillated within merely half a percent trading range. Looking at the hourly chart, it is 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 this 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-test 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 from the event may dictate the near term direction for our market.

Source: Falcon:

Actionable points:
View Expected target Resistance levels Bearish Below 5814 5790 5750 5860 - 5893

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Daily Technical Report

March 19, 2013

Bank Nifty Outlook - (11736)

Yesterday, Bank Nifty opened with a downside gap in line with 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 as resistance for the day. Actionable points:
View Resistance Levels Support Levels Neutral 11850 - 12059 11625 - 11555

Exhibit 2: Bank Nifty Daily Chart

Source: Falcon:

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Daily Technical Report

March 19, 2013

Daily Pivot Levels for Nifty 50 Stocks

SCRIPS SENSEX NIFTY BANKNIFTY ACC AMBUJACEM ASIANPAINT AXISBANK BAJAJ-AUTO BANKBARODA BHARTIARTL BHEL BPCL CAIRN CIPLA COALINDIA DLF DRREDDY GAIL GRASIM HCLTECH HDFC HDFCBANK HEROMOTOCO HINDALCO HINDUNILVR ICICIBANK IDFC INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SIEMENS SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO WIPRO S2 19,177 5,797 11,539 1,194 177 4,908 1,283 1,768 706 297 193 385 287 376 295 264 1,767 307 2,890 778 801 618 1,660 92 450 1,027 149 2,828 299 346 72 642 1,460 596 899 1,332 143 311 776 108 424 824 407 2,222 159 554 820 282 96 344 1,546 1,874 427 S1 19,235 5,816 11,637 1,210 179 4,955 1,304 1,790 712 302 195 389 292 384 298 267 1,785 310 2,919 790 805 631 1,675 94 457 1,039 150 2,845 301 350 73 648 1,485 605 906 1,347 145 314 785 109 429 829 409 2,236 160 569 826 285 97 346 1,556 1,889 430 PIVOT 19,290 5,833 11,724 1,235 184 4,993 1,320 1,826 718 306 196 392 295 388 304 269 1,804 316 2,954 798 811 642 1,685 95 462 1,048 153 2,867 303 354 74 657 1,503 613 916 1,370 145 318 795 109 434 836 413 2,247 162 579 834 287 99 349 1,565 1,913 436 R1 19,348 5,852 11,822 1,251 186 5,040 1,341 1,848 725 312 197 396 300 396 308 272 1,822 319 2,983 810 815 655 1,700 96 468 1,060 155 2,884 306 358 75 663 1,529 622 924 1,385 147 321 804 109 439 842 416 2,262 164 593 840 290 100 352 1,576 1,928 439 R2 19,403 5,869 11,909 1,276 190 5,078 1,358 1,885 731 316 199 399 303 400 313 275 1,841 325 3,018 817 821 666 1,710 98 473 1,068 158 2,906 308 362 76 672 1,547 630 934 1,408 147 324 813 109 444 849 419 2,273 165 603 848 292 102 355 1,584 1,952 444

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Daily Technical Report

March 19, 2013
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Research Team
Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Ankur Lakhotia Head Technicals Technical Analyst Technical Analyst Technical Analyst

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