Daily Technical Report
October 09, 2014
Sensex (26247) / Nifty (7843)
Exhibit 1: Nifty Daily Chart
Yesterday’s session opened slightly lower amid mixed
global cues. Subsequently, the Nifty traded within a narrow
range throughout the session and eventually managed to
close with very negligible loss. Barring Healthcare and IT,
all other sectors closed in the positive territory. The Oil &
Gas, Capital Goods and Banking sectors were among the
major gainers. The advance to decline ratio was strongly in
favor of the declining counters. (A=1310 D=1606)
(Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25678 / 7675 and 22160 / 6629 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26770 / 8011 and 25564 / 7642 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
View
Bearish below 7840
Yesterday, our benchmark index opened tad lower and
Expected Targets
7780 - 7750
immediately slipped below the important support level of
Resistance Levels
7880 - 7920
7840. However, the bulls managed to defend this support
during the session as various attempts to stay below 7840
were turned down successfully. Hence, this important level
has now gained more significance. Going forward, we
maintain our view that any sustainable move below the
7840 mark may reinforce the negativity in the market. As a
result, the possibility of correcting towards 7780 - 7750
cannot be ruled out. On the flipside, 7880 - 7920 levels
would now act as an immediate resistance zone for the
index.
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Daily Technical Report
October 09, 2014
Bank Nifty Outlook - (15344)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened lower in-line with
our benchmark index. But, the overall intraday movement
was quite different as the banking index completely
outperformed the Nifty by gaining more than a percent
during the session. In our previous report, we had
mentioned about the strong support zone of the daily ’89
EMA’ placed around 15150 - 15100. This support zone
proved its significance as the Bank Nifty took a u-turn
after posting a low of 15130.35. Going forward, we
reiterate that only a sustainable move below this crucial
support zone may lead to further correction towards
14900 - 14800 levels. On the other hand, if the Bank
Nifty manages to sustain above 15400 then we may
witness an extended up move towards 15500 - 15550
levels.
Actionable points:
View
Neutral
Resistance Levels
15400 - 15500
Support Levels
15150 - 15100
Source: Falcon
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Daily Technical Report
October 09, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,057
26,152
26,245
26,340
26,433
NIFTY
7,789
7,816
7,843
7,870
7,897
BANKNIFTY
15,041
15,192
15,282
15,434
15,524
ACC
1,346
1,363
1,374
1,392
1,403
AMBUJACEM
204
206
209
211
214
ASIANPAINT
616
626
633
643
651
AXISBANK
369
374
377
382
385
BAJAJ-AUTO
2,302
2,325
2,341
2,364
2,380
BANKBARODA
830
844
861
874
891
BHARTIARTL
392
396
401
405
411
BHEL
193
198
202
206
210
BPCL
640
657
668
685
695
CAIRN
283
288
292
298
301
CIPLA
564
575
589
600
615
COALINDIA
336
339
341
344
347
DLF
137
143
146
152
156
DRREDDY
2,843
2,905
3,011
3,073
3,179
GAIL
434
438
441
444
447
GRASIM
3,372
3,416
3,446
3,490
3,519
HCLTECH
1,615
1,644
1,694
1,723
1,774
HDFC
997
1,006
1,016
1,025
1,035
HDFCBANK
854
861
865
872
877
HEROMOTOCO
2,757
2,778
2,799
2,820
2,841
HINDALCO
144
146
148
151
152
HINDUNILVR
720
727
736
743
751
ICICIBANK
1,416
1,432
1,443
1,460
1,471
IDFC
132
136
137
141
143
INDUSINDBK
582
602
615
636
649
INFY
3,543
3,597
3,694
3,748
3,845
ITC
360
363
365
368
371
JINDALSTEL
158
162
165
169
172
KOTAKBANK
989
995
1,003
1,009
1,017
LT
1,382
1,415
1,434
1,466
1,485
LUPIN
1,287
1,309
1,342
1,365
1,398
M&M
1,345
1,358
1,370
1,384
1,395
MARUTI
2,904
2,927
2,948
2,971
2,992
NMDC
155
158
160
164
166
NTPC
140
142
143
145
146
ONGC
393
399
403
410
414
PNB
859
868
878
887
896
POWERGRID
136
137
138
139
140
RELIANCE
913
925
933
945
953
SBIN
2,319
2,365
2,392
2,439
2,466
SSLT
246
252
255
261
265
SUNPHARMA
771
786
809
824
847
TATAMOTORS
497
503
508
514
519
TATAPOWER
81
81
82
83
84
TATASTEEL
428
442
450
464
472
TCS
2,600
2,642
2,691
2,732
2,782
TECHM
2,249
2,322
2,419
2,492
2,589
ULTRACEMCO
2,494
2,521
2,555
2,582
2,616
WIPRO
571
582
601
612
630
ZEEL
300
305
308
313
316
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Daily Technical Report
October 09, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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