Daily Technical Report
January 01, 2015
Sensex (27499) / Nifty (8283)
Exhibit 1: Nifty Daily Chart
Yesterday too we witnessed a flat opening in our market
amid mixed cues from other Asian bourses. The index
moved marginally higher during the opening hour and then
consolidated throughout the remaining session to close with
0.42% gains. Excluding Auto, all other sectors ended in the
positive territory amongst which the Power, Realty, Oil &
Gas and Consumer Durables were the major gainers. The
advance to decline ratio was strongly in favor of the
advancing counters. (A=1692 D=1177) (Source-
www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27055 / 8101 and 23512 / 7036 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 27559 / 8276 and 27040 / 8098 levels, respectively.
Actionable points:
Trading strategy:
The final session of the calendar year 2014 ended in favor
View
Neutral
of the bulls. However, the overall movement was quite
Resistance Levels
8300 - 8320
narrow and lethargic due to lack of participation by the
Support Levels
8250 - 8220
market participants. Although, the Nifty has managed to
close marginally above the daily ’20 EMA’, we would stick
to our mildly negative stance on the market. As mentioned
in our previous reports, the index is trading within a narrow
range and we expect it to continue in the coming trading
session as well. On the higher side, the resistance zone is
seen around 8300 - 8320 levels; whereas the support
levels are placed at 8250 - 8220. Meanwhile, traders can
focus on stock specific movements; but, aggressive trading
is not advisable on either side.
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Daily Technical Report
January 01, 2015
Bank Nifty Outlook - (18737)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, similar to the benchmark index, the Bank Nifty
too moved higher in the initial hour and then
consolidated throughout the remaining session to close
with half a percent gains. The index has now closed
marginally above the mentioned resistance level of
18700. However, looking at the overall price movement
and lower volumes; we do not have conviction to go long
at current level. We would rather continue with the wait-n-
watch approach and would look for further developments
on the chart. On the Higher side, 18800 - 18850 are
seen as immediate resistance levels for the index;
whereas 18600 - 18500 would provide intraday support
in coming trading session.
Actionable points:
View
Neutral
Resistance Levels
18800 - 18850
Support Levels
18600 - 18500
Source: Falcon
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Daily Technical Report
January 01, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,276
27,388
27,458
27,569
27,639
NIFTY
8,225
8,254
8,272
8,301
8,320
BANKNIFTY
18,609
18,673
18,723
18,787
18,838
ACC
1,387
1,393
1,402
1,408
1,417
AMBUJACEM
226
227
230
231
233
ASIANPAINT
744
748
753
757
762
AXISBANK
496
499
502
505
508
BAJAJ-AUTO
2,398
2,415
2,432
2,449
2,466
BANKBARODA
1,068
1,076
1,083
1,091
1,098
BHARTIARTL
348
351
352
354
356
BHEL
251
258
263
270
275
BPCL
633
640
646
653
659
CAIRN
231
236
239
244
247
CIPLA
621
624
627
629
632
COALINDIA
374
379
384
389
394
DLF
134
136
137
139
140
DRREDDY
3,164
3,205
3,233
3,274
3,302
GAIL
438
442
446
449
453
GRASIM
3,335
3,360
3,396
3,421
3,458
HCLTECH
1,544
1,571
1,590
1,617
1,636
HDFC
1,113
1,124
1,133
1,144
1,152
HDFCBANK
945
948
953
956
960
HEROMOTOCO
3,018
3,062
3,091
3,136
3,164
HINDALCO
155
156
158
159
161
HINDUNILVR
749
754
759
765
769
ICICIBANK
348
351
353
355
357
IDFC
156
157
158
159
160
INDUSINDBK
787
795
802
810
817
INFY
1,938
1,955
1,967
1,984
1,996
ITC
366
367
369
370
372
JINDALSTEL
147
150
152
154
157
KOTAKBANK
1,226
1,245
1,259
1,278
1,292
LT
1,484
1,489
1,497
1,503
1,511
LUPIN
1,411
1,420
1,430
1,439
1,450
M&M
1,218
1,226
1,235
1,244
1,253
MARUTI
3,282
3,306
3,324
3,348
3,366
NMDC
144
144
145
146
147
NTPC
140
142
143
146
147
ONGC
337
339
342
344
347
PNB
217
218
220
220
222
POWERGRID
136
137
139
140
141
RELIANCE
873
882
888
897
903
SBIN
309
310
312
313
315
SSLT
210
212
214
216
218
SUNPHARMA
811
819
824
832
837
TATAMOTORS
487
492
495
499
503
TATAPOWER
81
82
82
83
83
TATASTEEL
393
396
399
402
405
TCS
2,508
2,533
2,550
2,575
2,591
TECHM
2,563
2,578
2,600
2,616
2,638
ULTRACEMCO
2,600
2,638
2,668
2,706
2,736
WIPRO
548
551
554
558
560
ZEEL
375
378
380
383
385
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Daily Technical Report
January 01, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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