Daily Technical Report

June 20, 2013

Sensex (19246) / NIFTY (5822)

Yesterday, our benchmark indices opened quietly on the back of mixed global cues and then traded lower to post a low of 19100 / 5777 during the first half. However, a decent recovery during the second half led the Indices to close with very minor gains. During the session, the Consumer Durables, Metal and Realty counters traded with a positive bias; whereas the Auto and Power sectors remained under pressure. The advance to decline ratio was marginally in favor of advancing counters. (Sourcewww.bseindia.com) (A=1261 D=1113)

Exhibit 1: Nifty Daily Chart

Formation
The 20-week EMA and the 20-day EMA are placed at 19359/ 5869 and 19500/ 5909 levels, respectively. The 89-day EMA and the 200-day SMA are placed at 19417/ 5885 and 19128 -/ 5800, respectively. The daily RSI and Stochastic momentum oscillators are signaling a positive crossover.

Source: Falcon:

The Monthly Shooting Star Japanese candlestick

pattern has been activated.

Actionable points:
View Expected targets Resistance levels Bearish below 5770 5739 5701 5863 5885

The daily chart now depicts a bullish Island Reversal

pattern.

Trading strategy:
Yesterday, although indices gradually managed to inch higher during the second half, the overall price activity was within a narrow range. Since, there is no major change in the price structure; we continue to mention that 19459 19417 / 5863 5885 levels would act as strong and important resistance for our market. Only a closing beyond these levels would indicate the possibility of buying interest among market participants. In todays trading session the markets are likely to open with a downside gap on the back of important announcements by the US FED and weak global sentiments. Going forward, any sustainable move below 19084 / 5770 would result in the breach of crucial support levels and would trigger immense pessimism in the market. In this scenario, indices may correct towards 18952 18895 / 5739 5701 levels.

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June 20, 2013

Bank Nifty Outlook - (11853)

Yesterday, the Bank Nifty too opened on a flat note and the movement was quite similar to our benchmark indices. We continue to mention the trend line (drawn by joining the high of 13016 and 12488) is acting as an important resistance for the bulls. Only a sustainable breakout from this resistance level (11980) would result in the possibility of a pullback. Conversely, a fall below Mondays low of 11735 would result in the beginning of a strong down move. In this scenario, the Bank Nifty may slide towards 11590 - 11334 levels.

Exhibit 2: Bank Nifty Daily Chart

Actionable points:

View Expected targets Resistance Levels

Bearish Below 11735 11590 - 11334 11980

Source: Falcon:

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Daily Technical Report

June 20, 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 19,033 5,759 11,691 1,192 175 4,528 1,258 1,798 606 288 177 99 355 287 373 293 185 2,042 291 2,731 773 822 648 1,576 593 1,072 141 467 2,390 326 228 62 754 1,416 778 965 1,514 105 142 299 716 106 343 808 356 2,019 139 940 288 81 279 1,404 1,787 S1 19,139 5,791 11,772 1,204 179 4,569 1,272 1,817 611 294 179 102 360 291 376 296 187 2,071 295 2,759 776 832 657 1,598 594 1,079 143 473 2,414 328 237 63 760 1,427 787 972 1,529 106 144 304 721 107 349 820 360 2,032 142 951 290 82 285 1,416 1,813 PIVOT 19,207 5,810 11,820 1,215 182 4,595 1,281 1,829 616 298 181 103 363 293 379 300 189 2,107 297 2,778 780 839 662 1,627 594 1,085 145 477 2,431 329 248 63 765 1,433 796 980 1,539 107 145 307 726 108 354 827 364 2,042 144 964 293 83 289 1,435 1,846 R1 19,313 5,841 11,900 1,227 187 4,636 1,294 1,848 621 304 182 106 368 297 382 303 191 2,136 300 2,806 783 849 670 1,649 595 1,092 147 483 2,456 331 257 64 771 1,444 804 987 1,554 108 147 313 731 108 360 838 368 2,056 148 974 295 84 295 1,447 1,871 R2 19,381 5,860 11,948 1,237 189 4,661 1,303 1,860 626 308 184 108 372 299 385 307 192 2,172 302 2,825 786 855 675 1,678 596 1,098 149 488 2,473 333 268 64 776 1,451 814 994 1,565 109 148 316 737 109 365 845 372 2,066 150 988 298 85 300 1,467 1,904

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June 20, 2013
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Shardul Kulkarni Sameet Chavan Sacchitanand Uttekar Head Technicals Technical Analyst Technical Analyst

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