Daily Technical Report
February 11, 2014
Sensex (20334) / Nifty (6053)
Exhibit 1: Nifty Hourly Chart
The opening session of the week started on a flat note as
indicated by the SGX nifty. Throughout the session, the index
traded within half a percent range and finally managed to
close tad below the previous close. On the sectoral front, the IT
and TECH counters closed with nominal losses; whereas the
Realty and Healthcare counters continue to outperformed the
benchmark indices. The advance to decline ratio was in favor
of the advancing counters. (A=1328 D=1246)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20590 / 6122 and 19437 / 5824 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20625 / 6128 and 20541 / 6109 levels, respectively.
The ‘Shooting Star’ pattern on the weekly chart is still
intact.
The Weekly ‘RSI-Smoothened’ and the ‘ADX (9)’ indicator
Source: Falcon
are still negatively poised; but the daily ‘RSI’ momentum
oscillator is showing a contradictory signal (positive
crossover).
Actionable points:
View
Neutral
Trading strategy:
Support Levels
6030 - 5965
As expected, yet another session ended with a lackluster
Resistance Levels
6100 - 6120
movement. During the session, neither Bulls nor Bears could
take the complete control on the market. Monday’s entire price
action was within the range of Friday’s price action. Due to this
there is no major change in the daily as well as the hourly
chart. Hence, we reiterate our view that 6120 - 6150 levels
would act as strong supply zone for the index. On the
downside, index may find support at 6030 - 5965 levels. Any
closing below this level would open up possibilities of further
downside move towards 5900 - 5850 levels.
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Daily Technical Report
February 11, 2014
Bank Nifty Outlook - (10214)
Exhibit 2: Bank Nifty Hourly Chart
On Monday, the banking index too opened o a flat note
in line with the benchmark index and traded within the
Friday's range for the entire session. From last three
consecutive sessions, we are witnessing range bound and
lethargic movement which eventually led to an
unchanged chart structure. Hence, we continue to
reiterate our view that only a sustainable move above
10322 level would attract some buying interest in the
market. In this scenario, the Bank Nifty may rally towards
10406 (gap area formed on 30th Jan 2013) - 10500
levels. On the flip-side, 10180 - 10100 levels would act
as key supports in coming trading session.
Actionable points:
View
Neutral
Support Levels
10180 - 10100
Resistance levels
10322 - 10406
Source: Falcon
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Daily Technical Report
February 11, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,238
20,286
20,360
20,408
20,483
NIFTY
6,024
6,039
6,061
6,076
6,098
BANKNIFTY
10,115
10,164
10,237
10,287
10,360
ACC
1,021
1,035
1,045
1,058
1,068
AMBUJACEM
159
161
163
164
166
ASIANPAINT
479
483
489
493
499
AXISBANK
1,096
1,108
1,123
1,135
1,151
BAJAJ-AUTO
1,898
1,917
1,929
1,948
1,960
BANKBARODA
554
558
562
566
571
BHARTIARTL
300
303
309
313
319
BHEL
153
154
156
158
160
BPCL
347
351
354
358
360
CAIRN
327
331
333
336
338
CIPLA
402
408
416
422
430
COALINDIA
266
268
270
272
273
DLF
139
140
143
145
148
DRREDDY
2,617
2,645
2,666
2,694
2,715
GAIL
346
348
351
354
357
GRASIM
2,522
2,545
2,567
2,590
2,612
HCLTECH
1,386
1,401
1,412
1,427
1,438
HDFC
748
757
771
780
794
HDFCBANK
629
637
643
651
658
HEROMOTOCO
1,967
1,983
2,002
2,018
2,036
HINDALCO
105
106
107
108
109
HINDUNILVR
552
558
569
575
586
ICICIBANK
950
955
962
967
973
IDFC
95
96
97
99
100
INDUSINDBK
378
381
387
391
396
INFY
3,544
3,559
3,572
3,587
3,601
ITC
319
322
324
327
328
JINDALSTEL
238
241
244
247
251
JPASSOCIAT
38
39
40
40
42
KOTAKBANK
633
640
651
658
669
LT
970
983
992
1,005
1,014
LUPIN
911
918
924
931
938
M&M
879
887
895
902
910
MARUTI
1,649
1,669
1,685
1,705
1,722
NMDC
139
142
145
148
151
NTPC
132
133
135
137
138
ONGC
267
269
272
275
277
PNB
549
553
557
561
565
POWERGRID
96
96
97
98
99
RANBAXY
334
338
341
345
349
RELIANCE
805
814
820
828
834
RELINFRA
359
363
368
371
376
SBIN
1,493
1,503
1,518
1,529
1,544
SESAGOA
182
185
189
192
197
SUNPHARMA
599
606
610
616
621
TATAMOTORS
354
359
363
368
373
TATAPOWER
74
75
75
76
77
TATASTEEL
373
378
385
390
398
TCS
2,049
2,071
2,108
2,130
2,166
ULTRACEMCO
1,702
1,713
1,732
1,743
1,762
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Daily Technical Report
February 11, 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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