Daily Technical Report
August 06, 2015
Sensex (28223) / Nifty (8568)
Exhibit 1: Nifty Daily Chart
Despite mixed global cues, our markets opened half a
percent higher and then traded within a narrow range
throughout the remaining session. Due to minor profit
booking from the intraday high; the Nifty eventually
ended the session with 0.60% gains. On the sectoral front,
the Consumer Durables, Banking and Metal sectors
ended with negligible loss; whereas, the Realty,
Healthcare, FMCG and IT counters posted strong
intraday gains. The advance to decline ratio was
strongly in favor of the advancing counters. (A=1803
D=1152) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the
’89-week EMA’ are
placed at 27771 / 8402 and 25768 / 7761 levels,
respectively.
The ’20-day EMA’ and the
‘20-week EMA’ are
Source: Falcon
placed at 27896 / 8456 and 27793 / 8418 levels,
respectively.
Actionable points:
Trading strategy:
A volatile session on Tuesday was followed by a gap up
View
Neutral
opening in our market. However, post the initial hour, the
Resistance Levels
8630 - 8650
bulls couldn’t extend this early morning lead due to
Support Level
8480
modest profit booking in some of the index
heavyweights. Although, our benchmark index added
more than half a percent; the overall intraday price
action was very lethargic and range bound. However,
in-line with our expectation, lot of individual stocks
showed their clear outperformance. Going forward, we
continue to mention that the current optimism is likely to
remain in the market so long as we trade above the
8480 mark on a closing basis. On the higher side, 8630 -
8650 are seen as next resistance levels for the index.
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Daily Technical Report
August 06, 2015
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (18929)
Yesterday, the Bank Nifty opened with marginal gains
in-line with the broader indices. The banking index
started moving upwards from the initial trades and
then went on to surpass the 19100 mark in the first hour
of trading. But, this optimism was very short lived as we
witnessed a modest selling pressure in the banking
counters at higher levels. Eventually, the Bank Nifty
broke its winning streak of six consecutive sessions and
under-performed the benchmark indices to give a
close with a marginal loss of 0.23 percent. Going
forward, the index has a strong resistance at 19100 -
19270 levels. On the downside, the immediate support
is placed at 18750.
Actionable points:
View
Neutral
Resistance Levels
19100 - 19270
Support Level
18750
Source: Falcon
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Daily Technical Report
August 06, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,045
28,134
28,225
28,314
28,405
NIFTY
8,523
8,545
8,569
8,591
8,615
BANKNIFTY
18,732
18,830
18,967
19,065
19,202
ACC
1,363
1,373
1,385
1,395
1,407
AMBUJACEM
227
228
230
232
234
ASIANPAINT
871
897
912
938
953
AXISBANK
569
575
582
588
595
BAJAJ-AUTO
2,476
2,526
2,557
2,607
2,637
BANKBARODA
183
186
189
192
195
BHARTIARTL
408
413
420
425
432
BHEL
274
277
283
286
291
BOSCHLTD
25,490
25,895
26,210
26,615
26,930
BPCL
913
922
936
945
960
CAIRN
164
166
168
170
172
CIPLA
704
711
717
724
729
COALINDIA
430
434
441
445
451
DRREDDY
4,111
4,151
4,181
4,221
4,251
GAIL
339
342
345
348
351
GRASIM
3,705
3,734
3,761
3,790
3,818
HCLTECH
924
931
938
945
952
HDFC
1,288
1,295
1,307
1,315
1,327
HDFCBANK
1,079
1,086
1,092
1,098
1,104
HEROMOTOCO
2,610
2,638
2,656
2,684
2,703
HINDALCO
105
107
109
111
113
HINDUNILVR
901
905
909
913
917
ICICIBANK
303
307
313
318
324
IDEA
163
165
166
167
169
INDUSINDBK
941
947
955
961
968
INFY
1,051
1,069
1,079
1,097
1,107
ITC
324
328
330
334
337
KOTAKBANK
678
685
690
697
703
LT
1,757
1,769
1,780
1,791
1,803
LUPIN
1,630
1,655
1,670
1,695
1,710
M&M
1,335
1,361
1,375
1,401
1,416
MARUTI
4,398
4,435
4,459
4,496
4,521
NMDC
100
101
102
103
105
NTPC
134
135
136
138
139
ONGC
266
268
270
272
274
PNB
155
157
160
162
166
POWERGRID
139
140
141
141
142
RELIANCE
974
981
991
998
1,008
SBIN
280
283
287
290
295
VEDL
125
126
129
130
133
SUNPHARMA
821
831
838
849
855
TATAMOTORS
367
372
380
385
393
TATAPOWER
68
69
70
71
72
TATASTEEL
255
259
264
267
272
TCS
2,497
2,522
2,536
2,561
2,575
TECHM
534
542
550
559
567
ULTRACEMCO
3,117
3,167
3,198
3,248
3,280
WIPRO
553
564
571
582
589
YESBANK
818
824
835
842
853
ZEEL
402
408
413
419
423
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Daily Technical Report
August 06, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website:
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Research Team
Sameet Chavan
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Technical Analyst
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