Daily Technical Report
August 07, 2015
Sensex (28298) / Nifty (8589)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened with marginal gains on
the back of positive global cues and then immediately
slipped inside the negative territory. However, the index
managed to find a support around the previous day’s
low of 8545 and then rebounded to register a high
above the 8600 mark in the latter half of the session.
Eventually, the Nifty closed with quarter of a percent
gains over its previous close. On sectoral front, the
Consumer Durables, Capital Goods and Healthcare
sectors were the major gainers; whereas, the FMCG,
Metals and Oil & Gas counters ended in the red. The
advance to decline ratio was in favor of the declining
counters. (A=1391 D=1532) (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:
Yesterday, the Nifty traded in a narrow range and
View
Neutral
ended the session by forming a small 'Doji' candle on
Resistance Levels
8630 - 8650
daily charts. The overall market breadth after many
Support Level
8545 - 8480
sessions turned marginally in favor of declines, thus
indicating minor profit booking at higher levels.
Although, the broader trend continues to remain bullish,
minor profit booking in the near term could not be ruled
out. The stock specific action is expected to continue
and hence, traders are advised to focus on stock
specific moves. The near term support for the index is
placed around 8480 and any corrective action near the
mentioned support should be used as a buying
opportunity. The medium term support for Nifty remains
intact around 8315. On the flip-side, 8630 - 8650 is seen as
immediate resistance zone for the index.
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Daily Technical Report
August 07, 2015
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (19029)
After a flat opening, the Bank Nifty started correcting
in the initial trades and then went on to sneak below
the previous day's low. However, due to sharp
recovery in the banking conglomerates in the latter
half, the banking index rebounded from the lower
levels and registered an intraday high at 19100 mark.
Eventually, the Bank Nifty added another 0.53 percent
to the bull's kitty. Going forward, the Bank Nifty has a
strong resistance at
19100
-
19150 levels and a
sustainable move above that zone may push the index
towards
19400 - 19600 levels. On the flipside, the
immediate support for the index is placed at 18750 -
18800 zone.
Actionable points:
View
Neutral
Resistance Levels
19150 - 19400
Support Level
Source: Falcon
18750 - 18800
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Daily Technical Report
August 07, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,078
28,188
28,274
28,384
28,470
NIFTY
8,527
8,558
8,582
8,613
8,637
BANKNIFTY
18,717
18,873
18,987
19,143
19,257
ACC
1,363
1,384
1,401
1,422
1,438
AMBUJACEM
225
228
230
233
236
ASIANPAINT
903
909
917
924
931
AXISBANK
576
580
583
588
591
BAJAJ-AUTO
2,535
2,557
2,582
2,604
2,629
BANKBARODA
183
186
189
192
195
BHARTIARTL
409
412
417
420
425
BHEL
275
279
282
286
289
BOSCHLTD
25,802
26,100
26,399
26,697
26,997
BPCL
924
931
939
947
955
CAIRN
162
164
167
169
172
CIPLA
711
717
724
730
737
COALINDIA
424
428
434
437
443
DRREDDY
4,167
4,217
4,272
4,321
4,376
GAIL
340
341
344
345
348
GRASIM
3,681
3,716
3,756
3,791
3,831
HCLTECH
938
942
946
950
954
HDFC
1,278
1,291
1,302
1,315
1,326
HDFCBANK
1,078
1,087
1,094
1,103
1,110
HEROMOTOCO
2,614
2,633
2,657
2,676
2,700
HINDALCO
106
107
109
110
111
HINDUNILVR
899
903
907
911
915
ICICIBANK
305
308
310
313
316
IDEA
163
166
168
170
173
INDUSINDBK
940
946
952
958
964
INFY
1,061
1,074
1,090
1,103
1,118
ITC
320
323
327
330
334
KOTAKBANK
683
695
703
714
722
LT
1,752
1,792
1,814
1,853
1,876
LUPIN
1,669
1,687
1,702
1,721
1,735
M&M
1,359
1,378
1,393
1,412
1,427
MARUTI
4,405
4,429
4,454
4,477
4,502
NMDC
100
101
103
104
105
NTPC
134
135
136
138
139
ONGC
267
269
271
273
275
PNB
154
158
160
164
167
POWERGRID
139
140
141
142
143
RELIANCE
968
974
983
988
997
SBIN
278
284
287
293
296
VEDL
124
125
128
129
131
SUNPHARMA
833
839
848
855
864
TATAMOTORS
369
376
380
387
392
TATAPOWER
69
69
70
70
71
TATASTEEL
252
256
261
266
270
TCS
2,536
2,555
2,569
2,588
2,602
TECHM
515
524
541
550
567
ULTRACEMCO
3,173
3,199
3,228
3,254
3,283
WIPRO
563
567
573
578
584
YESBANK
818
823
830
834
841
ZEEL
405
410
413
418
421
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Daily Technical Report
August 07, 2015
Research Team Tel: 022 - 30940000
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Technical Analyst
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