Daily Technical Report
February 03, 2015
Sensex (29122) / Nifty (8797)
Exhibit 1: Nifty Daily Chart
The trading for the week began on a flat note considering
mixed global cues. Subsequently, the index drifted lower
and shed more than half a percent. However, we witnessed
a sharp bounce back from the low in the concluding hour.
As a result, the Nifty eventually managed to close with very
nominal loss. On the sectoral front, the IT, Capital Goods
and Consumer Durables were the major gainers; whereas
the FMCG, Oil & Gas and Metal counters traded with a
negative bias throughout the session.The advance to decline
ratio was in favor of the advancing counters. (A=1616
D=1303) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27549 / 8276 and 24033 / 7199 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 28549 / 8614 and 27605 / 8294 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Our markets continued their weakness as the banking
View
Neutral
conglomerates remained under tremendous pressure
Resistance Levels
8850 - 8920
throughout the first half. As a result, the Nifty went on to test
Support Levels
8750 - 8700
the 8750 mark in the first half. However, we witnessed a
fair amount of buying interest around day's low, which
pulled the index back into the positive territory. Due to
higher volatility, the index eventually closed tad below the
8800 mark. On the daily chart, we are observing a 'Doji'
pattern, which indicates uncertainty among market
participants. Going forward, we maintain our view that so
long as Nifty trades below 8850, the index is likely to
remain a bit weak and can correct further up to 8750 -
8700 levels. However, if the Nifty manages to sustain above
the 8850 mark then we may witness a resumption of the
larger degree uptrend to retest 8950 - 9000 levels. Today's
session may trade with enhanced volatility on account of RBI
monetary policy. Traders are advised to trade with proper
stop losses and avoid taking undue risks.
www.angelbroking.com
1
Daily Technical Report
February 03, 2015
Bank Nifty Outlook - (19866)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index opened slightly lower and
continued its Friday's corrective mode throughout the first
half. However, we witnessed a v-shaped recovery from
the lower level towards the latter part of the session.
Yesterday's low precisely coincides with the 50% Fibonacci
retracement level of the recent up move. Hence, going
forward, this level would act as an important support for
the index. In addition, we are observing a formation of
the 'Bullish Hammer' pattern on the daily chart. Hence, if
the index manages to give a close above yesterday's high
of 19991 then we may witness a resumption of the
uptrend to test 20300 - 20500 levels. On the flipside,
19750 - 19550 levels are seen as immediate supports for
the index.
Actionable points:
View
Neutral
Resistance Levels
19991 - 20300
Source: Falcon
Support Levels
19750 - 19550
www.angelbroking.com
2
Daily Technical Report
February 03, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,807
28,964
29,116
29,274
29,426
NIFTY
8,707
8,752
8,796
8,842
8,886
BANKNIFTY
19,380
19,623
19,807
20,050
20,234
ACC
1,488
1,507
1,532
1,550
1,575
AMBUJACEM
241
245
248
252
255
ASIANPAINT
773
791
821
838
869
AXISBANK
571
594
608
631
644
BAJAJ-AUTO
2,269
2,309
2,365
2,405
2,461
BANKBARODA
180
184
188
192
196
BHARTIARTL
346
353
363
370
380
BHEL
287
291
294
297
300
BPCL
718
734
750
766
782
CAIRN
231
234
236
238
240
CIPLA
683
689
698
704
713
COALINDIA
347
351
354
358
361
DLF
166
169
172
176
178
DRREDDY
3,104
3,121
3,153
3,170
3,202
GAIL
419
424
429
435
439
GRASIM
3,751
3,779
3,829
3,858
3,907
HCLTECH
1,761
1,826
1,863
1,928
1,965
HDFC
1,225
1,247
1,266
1,288
1,307
HDFCBANK
1,035
1,058
1,076
1,099
1,116
HEROMOTOCO
2,765
2,799
2,844
2,878
2,923
HINDALCO
137
141
143
147
150
HINDUNILVR
889
899
914
924
939
ICICIBANK
343
348
354
358
365
IDFC
168
172
176
180
184
INDUSINDBK
848
861
870
883
891
INFY
2,112
2,125
2,138
2,151
2,164
ITC
353
357
363
367
373
JINDALSTEL
149
152
156
159
163
KOTAKBANK
1,283
1,318
1,339
1,373
1,395
LT
1,680
1,707
1,724
1,751
1,768
LUPIN
1,508
1,531
1,569
1,592
1,629
M&M
1,202
1,222
1,253
1,273
1,305
MARUTI
3,566
3,618
3,671
3,723
3,776
NMDC
138
140
141
143
145
NTPC
140
141
143
144
146
ONGC
343
346
352
356
361
PNB
186
189
191
194
197
POWERGRID
145
146
148
149
150
RELIANCE
897
903
911
917
925
SBIN
301
304
308
311
315
SSLT
193
196
200
203
208
SUNPHARMA
910
920
932
941
953
TATAMOTORS
575
584
590
599
605
TATAPOWER
88
89
91
93
94
TATASTEEL
374
379
387
392
400
TCS
2,440
2,477
2,499
2,536
2,559
TECHM
2,798
2,846
2,921
2,969
3,044
ULTRACEMCO
2,968
3,028
3,098
3,158
3,229
WIPRO
602
614
621
632
639
ZEEL
365
369
372
375
379
www.angelbroking.com
3
Daily Technical Report
February 03, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4