Daily Technical Report
January 09, 2015
Sensex (27275) / Nifty (8235)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a gap up opening in our market
considering strong cues from other global bourses. The
index then took a pause for some time and then resumed its
early morning uptrend to close with more than one and half
a percent gains. All sectors ended in the positive territory
amongst which the Banking, FMCG, Realty and Metal were
the major gainers. The advance to decline ratio was
strongly in favor of the advancing counters. (A=2050
D=823) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27089 / 8121 and 23525 / 7066 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27601 / 8285 and 27085 / 8126 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, we witnessed a gap up opening by nearly 100
View
Neutral
points in the Nifty on the back of positive cues from the US
Resistance Levels
8250 - 8300
as well as Asian bourses. This momentum continued
Support Levels
8180 - 8130
throughout the session and hence, the Nifty managed to
regain the 8200 mark on a closing basis. The gap up
opening by such a margin was not unexpected for us; but,
in our previous report, we had clearly mentioned about the
possibility of a bounce back towards 8180 - 8220 levels.
Since, the index has now reached the mentioned resistance
zone (the hourly 89 EMA); we maintain our negative stance
on the market. Thus, it’s advisable to use this opportunity to
exit existing longs or create short positions in the market.
We continue to remain bearish on the market and expect
the index to test 8000 - 7960 levels in next few sessions.
The above mentioned hypothesis may negate if the index
manages to sustain above the 8300 mark.
www.angelbroking.com
1
Daily Technical Report
January 09, 2015
Bank Nifty Outlook - (18701)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, similar to our benchmark index, the Bank Nifty
too opened substantially higher and traded with a positive
bias throughout the session. As a result, the Bank Nifty
managed to recover two percent from its previous day’s
losses. However, we maintain our cautious stance on the
Bank Nifty and expect it to face a strong resistance
around 18800 - 18900 levels. On the flipside, the
downside momentum in the index may reinforce once the
index manages to give an hourly close below the 18600
mark. In this scenario, we may expect an immediate
correction towards 18400 - 18300 levels.
Actionable points:
View
Neutral
Resistance Levels
18550 - 18650
Support Levels
18400 - 18200
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
January 09, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,017
27,146
27,231
27,360
27,445
NIFTY
8,139
8,187
8,215
8,263
8,291
BANKNIFTY
18,381
18,541
18,647
18,807
18,913
ACC
1,364
1,378
1,387
1,401
1,411
AMBUJACEM
219
223
225
229
231
ASIANPAINT
762
791
807
836
852
AXISBANK
489
495
501
508
514
BAJAJ-AUTO
2,422
2,436
2,451
2,465
2,479
BANKBARODA
1,063
1,070
1,077
1,084
1,091
BHARTIARTL
349
355
359
365
369
BHEL
253
255
258
260
263
BPCL
637
657
670
690
702
CAIRN
231
236
239
245
248
CIPLA
608
613
617
622
627
COALINDIA
373
376
381
384
388
DLF
132
137
141
146
149
DRREDDY
3,014
3,040
3,067
3,093
3,120
GAIL
415
423
429
437
444
GRASIM
3,365
3,395
3,428
3,459
3,492
HCLTECH
1,478
1,506
1,523
1,551
1,568
HDFC
1,102
1,113
1,121
1,131
1,139
HDFCBANK
940
952
961
973
981
HEROMOTOCO
2,931
2,957
2,978
3,005
3,026
HINDALCO
147
150
151
154
156
HINDUNILVR
793
805
815
827
837
ICICIBANK
338
343
346
350
353
IDFC
155
156
157
158
159
INDUSINDBK
781
790
797
806
813
INFY
1,926
1,950
1,973
1,997
2,020
ITC
353
357
360
365
368
JINDALSTEL
150
154
156
160
163
KOTAKBANK
1,260
1,300
1,327
1,367
1,393
LT
1,493
1,502
1,513
1,521
1,532
LUPIN
1,367
1,388
1,400
1,421
1,433
M&M
1,221
1,229
1,238
1,246
1,255
MARUTI
3,411
3,443
3,476
3,509
3,542
NMDC
136
137
137
138
139
NTPC
142
144
144
146
147
ONGC
332
337
340
345
349
PNB
204
205
207
209
211
POWERGRID
135
137
138
139
140
RELIANCE
826
834
848
857
871
SBIN
300
303
305
307
309
SSLT
202
206
210
214
217
SUNPHARMA
811
815
818
822
825
TATAMOTORS
495
504
509
518
523
TATAPOWER
78
79
80
81
81
TATASTEEL
388
391
394
398
400
TCS
2,409
2,427
2,438
2,455
2,466
TECHM
2,506
2,536
2,558
2,588
2,610
ULTRACEMCO
2,635
2,681
2,707
2,753
2,779
WIPRO
533
539
549
555
565
ZEEL
356
360
366
370
376
www.angelbroking.com
3
Daily Technical Report
January 09, 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