Daily Technical Report
August 11, 2015
Sensex (28102) / Nifty (8526)
Exhibit 1: Nifty Daily Chart
The opening session of the week began on a flat note
considering muted global cues. Subsequently, the index
managed to extend its gains during the first half. However, a
strong profit booking towards the fag end pulled the index
well inside the negative territory. Barring Realty, all other
sectors closed in the red; amongst which Oil & Gas, Consumer
Durables and Metal were the major losers. The advance to
decline ratio was marginally in favor of the declining counters.
(A=1424 D=1529) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27824 / 8419 and 25832 / 7779 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 28032 / 8497 and 27831 / 8432 levels, respectively.
Trading strategy:
Actionable points:
Yesterday, during the first half of the session, we witnessed a
good traction in the market, which pushed the index beyond
View
Neutral
the 8600 mark in the initial trades. Things were looking good;
Resistance Levels
8630 - 8650
but, suddenly, the Nifty took a nosedive in the last 45 minutes
Support Levels
8497 - 8450
of the trade. The Nifty tumbled by more than 90 points within
a blink of an eye and as a result, the index closed on a weak
note. We have been mentioning about a stiff resistance of
8600 since last couple of weeks. Yesterday’s price action has
certainly proved its significance as the Nifty took a u-turn after
posting a high of 8621.55. We maintain our view that the
further up move is only possible if the Nifty manages to
sustain beyond 8650. On the downside, yesterday’s corrective
move may get extended once the Nifty sneaks and sustains
below yesterday’s low of 8497. It’s advisable to remain light on
positions and follow strict losses for your existing positions.
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Daily Technical Report
August 11, 2015
Bank Nifty Outlook - (18875)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened with marginal gains and
started moving upwards from the initial trades. The index
traded with a positive bias throughout the first half of the
session. But, due to decent profit booking towards the fag
end, the index pared down all its intraday gains and
eventually ended with a nominal loss of 0.10 percent over
the previous day’s close. The banking index is facing a
strong resistance at 88.6% retracement level of the previous
fall from 19229.05 to 18174.20 and also, a sharp decline
seen in yesterday’s session doesn’t bode well for bulls.
Going forward, the immediate support for the Bank Nifty is
placed at 18670 - 18565 levels; whereas, 19100 - 19200
levels are likely to act as a crucial resistance zone for the
index.
Actionable points:
View
Neutral
Resistance Levels
19100 - 19200
Source: Falcon
Support Levels
18670 - 18565
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Daily Technical Report
August 11, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,779
27,941
28,179
28,340
28,579
NIFTY
8,425
8,475
8,548
8,599
8,672
BANKNIFTY
18,619
18,747
18,909
19,037
19,199
ACC
1,356
1,371
1,390
1,405
1,424
AMBUJACEM
222
224
227
230
233
ASIANPAINT
884
893
905
914
925
AXISBANK
563
570
577
583
591
BAJAJ-AUTO
2,525
2,540
2,557
2,572
2,589
BANKBARODA
177
180
183
186
189
BHARTIARTL
404
407
411
414
418
BHEL
254
263
269
278
284
BOSCHLTD
25,523
25,775
26,062
26,315
26,602
BPCL
917
932
956
970
994
CAIRN
159
161
165
167
171
CIPLA
704
710
717
722
729
COALINDIA
398
403
411
415
423
DRREDDY
4,199
4,229
4,274
4,304
4,349
GAIL
339
341
344
347
349
GRASIM
3,694
3,733
3,785
3,825
3,876
HCLTECH
919
928
939
948
959
HDFC
1,277
1,291
1,312
1,327
1,348
HDFCBANK
1,078
1,086
1,096
1,104
1,114
HEROMOTOCO
2,631
2,668
2,699
2,735
2,766
HINDALCO
104
106
109
111
114
HINDUNILVR
897
902
905
910
913
ICICIBANK
303
307
310
313
317
IDEA
161
162
165
167
170
INDUSINDBK
925
935
946
956
968
INFY
1,047
1,067
1,086
1,106
1,126
ITC
315
318
323
326
330
KOTAKBANK
694
701
709
715
723
LT
1,786
1,803
1,824
1,841
1,862
LUPIN
1,662
1,679
1,702
1,719
1,742
M&M
1,326
1,343
1,369
1,386
1,412
MARUTI
4,422
4,459
4,484
4,521
4,546
NMDC
103
104
104
105
106
NTPC
129
130
132
134
136
ONGC
267
271
278
282
289
PNB
156
157
160
162
164
POWERGRID
135
136
139
141
143
RELIANCE
950
959
974
984
998
SBIN
277
280
283
286
289
VEDL
124
126
128
130
133
SUNPHARMA
817
829
843
855
868
TATAMOTORS
375
380
388
393
401
TATAPOWER
68
69
69
70
71
TATASTEEL
257
259
262
264
267
TCS
2,540
2,556
2,573
2,589
2,605
TECHM
518
524
533
540
549
ULTRACEMCO
3,113
3,144
3,186
3,217
3,260
WIPRO
552
558
566
571
579
YESBANK
799
808
821
830
843
ZEEL
401
405
410
415
420
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Daily Technical Report
August 11, 2015
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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