Daily Technical Report
July 10, 2014
Sensex (25445) / Nifty (7585)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened slightly higher as indicated
by the SGX Nifty; but failed to sustain at higher levels.
During the session, index managed to trim another half a
percent from previous day's closing. On the sectoral front,
the Realty, Power and Capital Goods sectors continue to
remain under pressure; whereas the Oil & Gas and FMCG
counters managed to close in the green. The advance to
decline ratio was strongly in favor of the declining counters.
(A=838 D=2143) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
23812 / 7110 and 20992 / 6281 levels, respectively
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
25415 / 7593 and 23774 / 7098 levels, respectively
Source: Falcon
Trading strategy:
Actionable points:
A dreadful session on Tuesday was followed by yet another
weak session one day ahead of the Union Budget. After
View
Neutral
opening slightly in the positive territory, index traded with
Support Level
7550 - 7500
immense volatility and in the process, managed to shed half
Resistance Levels
7660 - 7700
a percent. The daily chart now depicts a breakdown from
the 'Upward Sloping Trend Line' (please refer the exhibit).
The coming session is likely to trade with enhanced volatility
on the account of 'Union Budget', which we feel is likely to
dictate the near term direction. A sustainable move below
7550 would result in further correction towards 7500 -
7440 levels. On the flipside, any positive outcome from the
event may push the index beyond 7660 to test 7720 - 7800
levels.
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Daily Technical Report
July 10, 2014
Bank Nifty Outlook - (14931)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened slightly higher
and shed another half a percent as the day progressed.
The daily chart depicts a break down from the trend line;
but we didn't get a closing below 14850, which is very
important for the index. A close below the said level may
trigger strong pessimism in the index and as a result,
lower levels of 14650 - 14500 can be retested. On the
flipside, a sustainable move beyond 15100 would push
the index higher to test 15250 - 15400 levels.
Actionable points:
View
Neutral
Support Level
14850 - 14650
Resistance Levels
15100 - 15250
Source: Falcon
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Daily Technical Report
July 10, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,179
25,312
25,498
25,631
25,817
NIFTY
7,497
7,541
7,596
7,640
7,694
BANKNIFTY
14,684
14,808
14,951
15,074
15,217
ACC
1,373
1,404
1,426
1,457
1,479
AMBUJACEM
212
215
219
223
227
ASIANPAINT
579
587
595
603
610
AXISBANK
1,836
1,855
1,883
1,902
1,931
BAJAJ-AUTO
2,117
2,143
2,191
2,217
2,265
BANKBARODA
804
819
832
847
859
BHARTIARTL
335
338
341
345
348
BHEL
233
238
244
249
255
BPCL
561
572
581
592
601
CAIRN
337
344
349
357
361
CIPLA
425
431
439
445
453
COALINDIA
350
358
371
379
392
DLF
195
200
204
208
213
DRREDDY
2,588
2,625
2,658
2,696
2,728
GAIL
444
452
459
466
473
GRASIM
3,167
3,229
3,286
3,349
3,406
HCLTECH
1,435
1,454
1,475
1,494
1,514
HDFC
993
1,004
1,017
1,029
1,042
HDFCBANK
811
821
828
837
845
HEROMOTOCO
2,474
2,506
2,548
2,581
2,623
HINDALCO
162
166
172
176
182
HINDUNILVR
620
625
630
635
640
ICICIBANK
1,378
1,391
1,408
1,420
1,437
IDFC
131
135
139
143
147
INDUSINDBK
527
535
549
557
570
INFY
3,234
3,272
3,328
3,366
3,422
ITC
333
337
340
344
347
JINDALSTEL
278
288
299
309
320
KOTAKBANK
841
853
865
877
889
LT
1,588
1,620
1,658
1,690
1,728
LUPIN
995
1,017
1,043
1,065
1,091
M&M
1,119
1,149
1,182
1,212
1,245
MARUTI
2,424
2,470
2,539
2,585
2,653
MCDOWELL-N
2,249
2,272
2,314
2,337
2,379
NMDC
167
170
173
176
180
NTPC
146
148
151
154
156
ONGC
383
394
401
412
419
PNB
893
908
927
942
961
POWERGRID
131
134
136
139
142
RELIANCE
984
992
1,001
1,010
1,019
RELINFRA
707
729
752
774
798
SBIN
2,511
2,547
2,581
2,616
2,650
SSLT
285
290
293
298
301
SUNPHARMA
702
713
724
735
746
TATAMOTORS
443
450
460
467
477
TATAPOWER
97
100
103
106
109
TATASTEEL
503
511
519
526
534
TCS
2,326
2,362
2,417
2,453
2,509
TECHM
2,021
2,044
2,077
2,100
2,133
ULTRACEMCO
2,454
2,474
2,498
2,517
2,541
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Daily Technical Report
July 10, 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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