Daily Technical Report
September 04, 2015
Sensex (25765) / Nifty (7823)
Exhibit 1: Nifty Daily Chart
Our markets opened higher citing to positive overnight
cues form the US bourses. Subsequently, the index
managed to trade with a positive bias throughout the
session and eventually closed with
1.37% gains. All
sectors ended well inside the positive territory amongst
which the Realty, Metal, Banking and Capital goods
were the major contributors. The advance to decline
ratio was strongly in favor of the advancing counters.
(A=1719 D=969) (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
Trading strategy:
Yesterday, the Chinese (Shanghai Composite) and Hong
Actionable points:
Kong (Hang Seng) markets were shut, which probably
led to some breather in our market coupled with the
positive cues from the US bourses. Unlike previous session,
View
Neutral
the index not only managed to held early morning lead;
Resistance Levels
7880 - 7920
but also extended gains beyond the 7800 mark. We
Support Level
7760 - 7700
were certainly not surprised by this move as we were
anticipating this bounce since last couple of sessions.
Considering the chart structure of most of the
heavyweights, we maintain our view that the yesterday’s
bounce may get extended towards 7880 - 7920 levels.
On the flipside, 7760 - 7700 are likely to provide some
support for next few days. It must be noted that the
directional view remains on the downside and thus, it’s
advisable to adopt a ‘Sell on rally’ approach. Hence, it is
advisableto stay light on positions and follow strict stop
losses.
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Daily Technical Report
September 04, 2015
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (16555)
Post the gap up opening of around a percent, the
Bank Nifty remained in the positive territory throughout
the session and eventually ended the session with
gains of 1.86 percent over its previous day’s close.
Yesterday, the banking index traded within the range
of Wednesday’s price action and thus, made a ‘Bullish
Harami’ pattern on the daily chart. The formation of
such pattern can be a short term trend reversal signal
on a follow-up buying above 16715 levels. In that
scenario, a sharp move towards, 17000 - 17100 levels
cannot be ruled out. On the flipside, 16218 and 16100
levels will now act as immediate support levels for the
Bank Nifty.
Actionable points:
View
Neutral
Resistance Levels
16715 - 17000
Support Level
16218 - 16100
Source: Falcon
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Daily Technical Report
September 04, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,439
25,602
25,719
25,882
25,998
NIFTY
7,716
7,770
7,808
7,861
7,899
BANKNIFTY
16,208
16,382
16,494
16,668
16,781
ACC
1,347
1,371
1,385
1,408
1,422
AMBUJACEM
208
213
217
223
227
ASIANPAINT
796
811
822
838
849
AXISBANK
461
474
482
495
502
BAJAJ-AUTO
2,190
2,219
2,242
2,271
2,294
BANKBARODA
166
171
175
180
184
BHARTIARTL
341
344
346
349
351
BHEL
204
208
212
216
219
BOSCHLTD
21,661
21,910
22,298
22,547
22,935
BPCL
815
827
844
855
872
CAIRN
139
144
147
153
156
CIPLA
645
650
657
662
669
COALINDIA
334
339
345
351
357
DRREDDY
4,157
4,183
4,221
4,247
4,286
GAIL
284
289
293
298
301
GRASIM
3,368
3,395
3,418
3,445
3,468
HCLTECH
943
952
959
968
976
HDFC
1,108
1,140
1,158
1,190
1,209
HDFCBANK
992
1,001
1,008
1,017
1,024
HEROMOTOCO
2,286
2,304
2,333
2,352
2,381
HINDALCO
74
75
77
79
80
HINDUNILVR
804
819
830
845
857
ICICIBANK
258
262
266
271
274
IDEA
145
147
151
153
157
INDUSINDBK
806
828
841
863
876
INFY
1,082
1,091
1,101
1,110
1,121
ITC
316
318
321
323
327
KOTAKBANK
596
611
621
636
646
LT
1,525
1,547
1,559
1,581
1,594
LUPIN
1,824
1,843
1,869
1,888
1,913
M&M
1,064
1,103
1,130
1,168
1,196
MARUTI
3,993
4,068
4,115
4,190
4,237
NMDC
99
101
102
104
106
NTPC
114
116
118
119
121
ONGC
224
227
229
232
234
PNB
128
129
131
133
135
POWERGRID
124
126
127
128
130
RELIANCE
837
845
853
862
869
SBIN
228
230
233
235
237
VEDL
92
95
98
101
103
SUNPHARMA
869
877
889
898
910
TATAMOTORS
320
327
333
340
347
TATAPOWER
58
59
60
61
61
TATASTEEL
218
224
228
234
239
TCS
2,560
2,583
2,599
2,622
2,638
TECHM
516
528
540
553
565
ULTRACEMCO
2,831
2,917
2,970
3,056
3,109
WIPRO
555
561
565
571
574
YESBANK
654
663
670
678
685
ZEEL
355
362
367
373
378
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Daily Technical Report
September 04, 2015
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Technical Analyst
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