Daily Technical Report
September 10, 2014
Sensex (27265) / Nifty (8153)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened tad lower as
indicated by the pre-opening session. Subsequently, index
traded with a slightly negative bias throughout the first half;
but, eventually managed to recover some part of losses and
close marginally in the negative territory. On the sectoral
front, the Consumer Durables, FMCG and Health Care
sectors were among the major gainers; whereas the IT,
Capital Goods and Oil & Gas counters remained under
pressure throughout the session. The advance to decline
ratio was in favor of the advancing counters. (A=1669
D=1336) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25147 / 7523 and 21829 / 6529 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26458 / 7925 and 25098 / 7495 levels, respectively.
Source: Falcon
Trading strategy:
Actionable points:
Monday’s strong session was followed by a quiet and
View
Neutral
slightly cautious session. Our benchmark index remained
Support Levels
8125 - 8100
slightly under pressure during the most part of the day.
Resistance Levels
8180 - 8220
Looking at the hourly chart, it can be clearly seen that the
’89 EMA’ provided a strong support for our market as the
index managed to give a modest recovery immediately after
testing it. Hence, going forward, 8125 would act as an
immediate support for the Nifty. Any sustainable move
below this level may lead to some intraday weakness
towards 8100 - 8075 levels. On the flipside, 8180 - 8220
is seen as an immediate resistance zone for the index.
Meanwhile, we continue to expect an outperformance from
the individual stocks.
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Daily Technical Report
September 10, 2014
Bank Nifty Outlook - (16157)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too traded with a slightly
cautious approach throughout the session. However, the
hourly chart of the Bank Nifty is still positively poised.
Looking at the current chart structure of few index
heavyweights like, the SBI and HDFC Bank, we expect the
index to continue its northward journey to reach 16350 -
16450 in the near term. On the flipside, 16000 would
provide a psychological support for the index.
Actionable points:
View
Bullish
Expected Targets
16350 - 16450
Support Level
16000
Source: Falcon
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Daily Technical Report
September 10, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,106
27,185
27,257
27,337
27,408
NIFTY
8,103
8,128
8,151
8,176
8,199
BANKNIFTY
16,034
16,095
16,147
16,209
16,261
ACC
1,511
1,528
1,544
1,561
1,578
AMBUJACEM
215
217
219
221
223
ASIANPAINT
652
658
670
676
688
AXISBANK
413
416
419
422
425
BAJAJ-AUTO
2,278
2,299
2,337
2,359
2,396
BANKBARODA
872
887
899
914
925
BHARTIARTL
394
400
406
411
417
BHEL
218
220
222
224
226
BPCL
678
685
696
704
714
CAIRN
333
338
341
345
349
CIPLA
562
569
573
580
584
COALINDIA
371
376
379
384
387
DLF
171
172
175
176
178
DRREDDY
2,964
2,986
3,007
3,029
3,050
GAIL
444
452
455
463
466
GRASIM
3,586
3,612
3,641
3,667
3,696
HCLTECH
1,614
1,627
1,650
1,663
1,686
HDFC
1,039
1,044
1,051
1,057
1,063
HDFCBANK
852
859
864
871
877
HEROMOTOCO
2,703
2,726
2,763
2,786
2,823
HINDALCO
167
170
172
175
178
HINDUNILVR
739
745
751
757
763
ICICIBANK
1,526
1,536
1,549
1,559
1,573
IDFC
139
140
142
144
146
INDUSINDBK
603
619
628
643
653
INFY
3,702
3,719
3,737
3,754
3,773
ITC
348
353
356
362
365
JINDALSTEL
222
232
240
249
258
KOTAKBANK
1,060
1,067
1,077
1,083
1,093
LT
1,584
1,595
1,612
1,623
1,640
LUPIN
1,320
1,334
1,344
1,358
1,368
M&M
1,387
1,395
1,404
1,412
1,421
MARUTI
2,886
2,898
2,915
2,927
2,944
MCDOWELL-N
2,234
2,261
2,285
2,312
2,336
NMDC
179
180
182
184
186
NTPC
139
140
141
142
143
ONGC
437
443
450
457
464
PNB
928
940
949
960
969
POWERGRID
133
133
134
135
136
RELIANCE
1,021
1,027
1,034
1,040
1,047
SBIN
2,532
2,550
2,570
2,588
2,608
SSLT
277
279
282
284
286
SUNPHARMA
850
855
864
869
877
TATAMOTORS
504
510
514
521
525
TATAPOWER
87
88
89
89
90
TATASTEEL
506
512
516
523
527
TCS
2,599
2,615
2,641
2,657
2,683
TECHM
2,402
2,420
2,454
2,472
2,506
ULTRACEMCO
2,636
2,666
2,716
2,746
2,796
WIPRO
576
582
588
594
600
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Daily Technical Report
September 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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