Daily Technical Report
February 06, 2015
Sensex (28851) / Nifty (8712)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a flat opening in our market
considering quiet global cues. As the day progressed, the
Nifty gently moved upwards and gained more than a
percent until the last hour of the session; where we
witnessed a complete nosedive from the highs to close
marginally in the negative territory. Barring IT and FMCG,
all other sectors ended in the negative territory amongst
which the Consumer Durables, Oil & Gas, Metal and Realty
were the major losers. The advance to decline ratio was
strongly in favor of the declining counters. (A=1025
D=1871) (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:
Yesterday, the Nifty gave a modest bounce from the 8700
View
Neutral
mark in the initial trades. The optimism continued for the
Resistance Levels
8750 - 8800
major part and hence, the Nifty gently added more than a
Support Level
8650
percent until the concluding hour of the session. We
witnessed a complete nosedive from the high of 8838.45
on the back of sharp cut seen across the broader market.
Hence, it can be concluded that yet another attempt of
breaking the 8850 mark was turned down by the bears. As
a result, the Nifty slumped during the late trade and
precisely tested our initial target of 8680. Going forward,
8650 level is seen as a crucial support in the near term. A
sustainable move below this level may trigger further
pessimism in the market. As a result, the Nifty may correct
towards 8580 - 8550 levels. On the flipside, if the Nifty
manages to hold this level on a closing basis then we may
witness a modest recovery towards 8750 - 8800 levels.
Hence, going forward, we will closely watch Nifty’s price
action around the 8650 mark. Meanwhile, traders can
continue with their stock specific approach.
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Daily Technical Report
February 06, 2015
Bank Nifty Outlook - (19052)
Exhibit 2: Bank Nifty Daily Chart
After witnessing a massive correction over the last four
trading sessions, the banking counters finally took a
breather and gave a decent bounce during yesterday’s
session. However, the banking index faced a strong
resistance around the mentioned level of 19500 and then
corrected sharply in the concluding hour to shed another
half a percent from the previous close. The index has now
closed marginally above the crucial support of the 19000
mark. Hence, similar to the Nifty, we will closely observe
Bank Nifty’s price movement around
19000. Going
forward, if the Bank Nifty sustains below 19000 then we
may witness an extended correction towards 18800 -
18700 levels. On the flipside, 19350 - 19500 would act
as an immediate resistance zone.
Actionable points:
View
Neutral
Resistance Levels
19350 - 19500
Support Levels
19000 - 18800
Source: Falcon
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Daily Technical Report
February 06, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,436
28,644
28,961
29,168
29,485
NIFTY
8,590
8,651
8,745
8,806
8,899
BANKNIFTY
18,691
18,872
19,158
19,338
19,625
ACC
1,464
1,484
1,507
1,527
1,550
AMBUJACEM
243
245
248
251
254
ASIANPAINT
797
804
815
822
833
AXISBANK
548
557
568
577
588
BAJAJ-AUTO
2,222
2,234
2,252
2,264
2,282
BANKBARODA
169
173
180
184
190
BHARTIARTL
354
359
366
371
377
BHEL
265
271
280
286
296
BPCL
699
724
749
774
798
CAIRN
243
245
248
249
252
CIPLA
646
654
665
674
685
COALINDIA
362
366
370
374
379
DLF
165
167
171
173
177
DRREDDY
3,042
3,057
3,076
3,091
3,110
GAIL
415
419
426
431
438
GRASIM
3,812
3,850
3,888
3,925
3,963
HCLTECH
1,853
1,913
1,947
2,007
2,041
HDFC
1,165
1,206
1,249
1,290
1,333
HDFCBANK
1,057
1,067
1,080
1,089
1,102
HEROMOTOCO
2,792
2,820
2,839
2,866
2,886
HINDALCO
142
145
150
152
157
HINDUNILVR
891
900
910
919
929
ICICIBANK
325
330
338
343
350
IDFC
161
164
168
171
174
INDUSINDBK
834
850
867
882
899
INFY
2,115
2,155
2,187
2,227
2,259
ITC
360
364
368
373
377
JINDALSTEL
139
142
148
152
158
KOTAKBANK
1,259
1,273
1,291
1,306
1,324
LT
1,656
1,669
1,688
1,701
1,719
LUPIN
1,532
1,555
1,582
1,606
1,633
M&M
1,150
1,165
1,190
1,205
1,230
MARUTI
3,454
3,488
3,543
3,577
3,632
NMDC
136
137
139
140
142
NTPC
137
138
141
142
145
ONGC
345
351
360
365
374
PNB
162
166
173
178
185
POWERGRID
140
142
144
146
149
RELIANCE
905
914
927
937
949
SBIN
284
287
293
296
301
SSLT
201
204
210
213
219
SUNPHARMA
944
952
959
967
974
TATAMOTORS
570
580
591
601
612
TATAPOWER
77
80
86
89
94
TATASTEEL
369
374
383
389
398
TCS
2,482
2,517
2,554
2,590
2,627
TECHM
2,815
2,842
2,871
2,897
2,927
ULTRACEMCO
3,003
3,033
3,072
3,102
3,141
WIPRO
612
625
634
647
656
ZEEL
354
357
363
366
371
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Daily Technical Report
February 06, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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