Daily Technical Report
September 02, 2015
Sensex (25696) / Nifty (7786)
Exhibit 1: Nifty Daily Chart
Global markets are continuing their influence on our bourses
as we witnessed yet another gap down opening due to
negative sentiments. The selling pressure aggravated as the
day progressed. As a result, the Nifty eventually ended the
session with a loss of 2.33 percent over the previous close. All
sectoral indices during the session ended well inside the
negative territory; amongst which the Banking,, Metal, capital
Goods, Auto and Oil & Gas were the major draggers. The
advance to decline ratio was strongly in favor of the declining
counters. (A=612 D=2082) (Source-www.bseindia.com).
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27623 / 8364 and 25925 / 7811 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27141 / 8232 and 27702 / 8386 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Considering yesterday’s fall, it can be concluded that the
View
Neutral
benchmark index is clearly following its current trend as we
Resistance Levels
7860 - 7950
first witnessed a bounce back towards its downside gap area
Support Levels
7746 - 7667
of 8050 - 8100 and then after hovering around it for nearly
two days, resumed it’s near term down trend. Although, we
had generated a sell around 8050 last Friday for a target of
7700; we must accept the fact that the down move began
much sooner than we had expected it to. Yesterday’s
weakness started right from the initial trade as the Nifty
opened way below its previous day’s low of 7947. This
triggered an intraday pessimism in the market and as a result,
the Nifty first tumbled towards its immediate support level of
7860 and then went on to breach the 7800 mark with an ease.
If we meticulously observe an hourly chart, we can find that
yesterday’s low precisely coincides with the 78.6% Fibonacci
retracement level of the recent bounce from 7667.35 to
8091.80. In addition, the ‘RSI-Smoothened’ momentum
oscillator on the daily chart is deeply oversold; indicating
possibility of some bounce in the market. Thus, traders
holding existing short positions can lighten up their trades
and then wait for further signal to emerge. On the upside,
7860 - 7950 would now be seen as immediate resistance
levels.
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Daily Technical Report
September 02, 2015
Bank Nifty Outlook - (16530)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the bears took a complete charge on banking
index, which eventually resulted in a massive single day fall
of 3.59 percent. Since last few trading sessions, we have
been predicting and advising about the expected weakness
in the banking stocks as well as the index. Due to
yesterday’s fall, the index is now approaching its support
level of 16300 (previous resistance which may act as a
support) and 16130 which is 38.2% retracement level of the
entire Impulsive move from 8860 (August 2013 low) to
20907 (January 2015 high). We thus advise our readers to
start booking profits in the short positions as the index
approaches the mentioned support zone. The resistance
levels for Bank Nifty index are seen around 16670 and
17000.
Actionable points:
View
Neutral
Resistance Levels
16670 - 17000
Support Levels
16300 - 16130
Source: Falcon
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Daily Technical Report
September 02, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,245
25,471
25,806
26,032
26,367
NIFTY
7,638
7,712
7,820
7,894
8,003
BANKNIFTY
16,103
16,317
16,650
16,864
17,197
ACC
1,304
1,318
1,331
1,345
1,358
AMBUJACEM
201
204
207
210
213
ASIANPAINT
781
800
822
841
863
AXISBANK
462
471
486
495
510
BAJAJ-AUTO
2,192
2,221
2,240
2,269
2,288
BANKBARODA
163
168
175
180
188
BHARTIARTL
336
341
348
352
359
BHEL
207
213
220
225
233
BOSCHLTD
21,897
22,330
22,789
23,222
23,680
BPCL
837
850
864
878
892
CAIRN
139
142
148
151
156
CIPLA
638
651
670
682
701
COALINDIA
336
345
355
365
375
DRREDDY
4,150
4,200
4,255
4,304
4,359
GAIL
281
287
293
298
305
GRASIM
3,338
3,379
3,414
3,456
3,491
HCLTECH
900
924
950
974
1,001
HDFC
1,130
1,143
1,160
1,174
1,190
HDFCBANK
977
988
1,005
1,017
1,033
HEROMOTOCO
2,335
2,359
2,377
2,402
2,420
HINDALCO
73
75
77
79
81
HINDUNILVR
841
848
854
861
867
ICICIBANK
262
267
273
277
283
IDEA
142
146
150
154
159
INDUSINDBK
795
813
833
851
871
INFY
1,063
1,076
1,095
1,108
1,128
ITC
308
312
318
321
327
KOTAKBANK
584
599
623
638
662
LT
1,513
1,535
1,561
1,584
1,610
LUPIN
1,805
1,833
1,879
1,907
1,953
M&M
1,139
1,158
1,188
1,207
1,238
MARUTI
3,949
4,005
4,102
4,159
4,256
NMDC
98
99
100
101
102
NTPC
118
119
121
122
124
ONGC
226
230
237
241
247
PNB
127
131
137
141
148
POWERGRID
126
128
129
131
133
RELIANCE
824
832
843
851
862
SBIN
233
236
241
243
248
VEDL
91
93
96
97
100
SUNPHARMA
866
884
900
918
934
TATAMOTORS
317
324
331
338
346
TATAPOWER
59
60
60
61
62
TATASTEEL
205
211
219
224
232
TCS
2,478
2,508
2,560
2,589
2,641
TECHM
497
504
514
522
531
ULTRACEMCO
2,712
2,773
2,839
2,900
2,966
WIPRO
553
559
565
571
577
YESBANK
639
653
666
680
693
ZEEL
358
365
373
380
389
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Daily Technical Report
September 02, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Sameet Chavan
-
Technical Analyst
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