Daily Technical Report

June 26, 2013

Sensex (18629) / NIFTY (5609)

Yesterday, markets opened marginally higher neglecting negative cues for other major Asian bourses. During the midsession, indices rallied gradually to post a high of 18801 / 5666. However, we witnessed massive selling pressure near days high, which eventually dragged indices to close marginally above the opening point of the day. The Oil & Gas, Capital Goods and FMCG counters ended with modest gains; whereas the Power, Consumer Durable and Health Care sectors remained under pressure throughout the session. The advance to decline ratio was strongly in favor of declining counters. www.bseindia.com) (A=981 D=1313) (Source

Exhibit 1: Nifty Hourly Chart

Formation
The 20-week EMA and the 89-Week EMA are placed at 19230/ 5825 and 18456/ 5585 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19359/ 5866 and 19172 / 5814, respectively.
Source: Falcon:

The weekly RSI-Smoothened oscillators, the ADX (9)

indicator and 5 & 20 EMA are now signaling a negative crossover.

Actionable points:
View Support Level Neutral 5570 5666 5705

Trading strategy:
Yesterday, indices remained sideways for the initial couple of hours. As expected, the lower end of the Upward Sloping Trend Line provided decent support for our market. During the midsession, indices rallied nearly a percent on the back of positive placement of hourly RSI-Smoothened oscillator. However, we witnessed immense selling near days high which resulted in sharp decline towards the latter part of the session. The daily chart now depicts a Long Legged Doji Japanese candlestick pattern. The said pattern indicates an uncertainty among the market participants and possibility of the change in the direction. However, the pattern would be confirmed only if indices sustain above yesterdays high of 18801 / 5666. In this scenario, indices may bounce towards 18890 19000 / 5705 5750 levels. on the flipside, the said pattern would be negated below the low of 18487 / 5570.

Resistance Levels

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Daily Technical Report

June 26, 2013

Bank Nifty Outlook - (11181)

Unlike our benchmark indices, the Bank Nifty opened on a quiet note and oscillated within a narrow trading range throughout the session. During the session, the Bank Nifty made a valiant attempt to move higher but faced strong resistance near the hourly 20 EMA. As a result, index pared down all its early gains to close with very minor gain. At this juncture, the daily chart portrays a Narrow Range body formation, which indicates lack of interest among market participants. Going forward, if index sustains above yesterdays high of 11326, then we may witness an intraday rally towards 11420 11518. Conversely, a breach of yesterdays low of 11107 would trigger pessimism in the market. In this case, the Bank Nifty may slide towards 11000 10888.

Exhibit 2: Bank Nifty Hourly Chart

Actionable points:

View Support Levels Resistance Levels

Neutral 11326 11420 11107 11100 Source: Falcon:

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Daily Technical Report

June 26, 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 INDUSINDBK INFY ITC JINDALSTEL JPASSOCIAT KOTAKBANK LT LUPIN M&M MARUTI NMDC NTPC ONGC PNB POWERGRID RANBAXY RELIANCE RELINFRA SBIN SESAGOA SUNPHARMA TATAMOTORS TATAPOWER TATASTEEL TCS ULTRACEMCO S2 18,325 5,519 10,987 1,144 175 4,229 1,185 1,735 539 274 159 330 265 372 285 160 2,062 279 2,705 732 796 610 1,545 93 578 1,011 129 436 2,327 307 196 46 679 1,319 752 912 1,480 96 133 294 624 99 285 781 313 1,871 130 934 267 77 258 1,354 1,755 S1 18,477 5,564 11,084 1,158 179 4,295 1,208 1,767 553 285 161 338 270 376 290 163 2,081 283 2,749 742 807 622 1,562 95 583 1,022 131 454 2,350 313 202 49 698 1,343 763 935 1,513 98 136 303 636 101 304 793 322 1,890 132 941 274 79 262 1,373 1,771 PIVOT 18,640 5,615 11,205 1,169 182 4,361 1,231 1,789 562 291 164 345 279 379 296 167 2,104 286 2,779 754 821 634 1,581 97 586 1,039 133 467 2,369 317 208 51 712 1,365 781 947 1,535 101 140 309 651 104 321 806 329 1,920 135 950 279 81 266 1,400 1,791 R1 18,792 5,660 11,302 1,183 186 4,428 1,254 1,821 576 302 167 353 284 382 300 170 2,123 290 2,823 764 832 646 1,598 99 591 1,050 135 485 2,392 324 214 53 731 1,389 792 970 1,568 103 142 317 663 106 341 817 338 1,938 137 958 287 82 270 1,419 1,806 R2 18,955 5,711 11,422 1,193 189 4,494 1,277 1,842 585 308 170 360 292 385 306 174 2,146 293 2,853 776 846 658 1,617 100 594 1,068 138 498 2,410 328 220 55 745 1,411 811 982 1,590 105 147 323 678 109 358 831 345 1,968 139 967 292 84 274 1,446 1,827

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Daily Technical Report

June 26, 2013
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