Daily Technical Report
September 11, 2014
Sensex (27057) / Nifty (8094)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened with a downside
gap considering negative cues from other Asian bourses.
Subsequently, index continued its pessimism and kept on
correcting lower as the day progressed to close with more
than half a percent losses. Barring the Power and Realty, all
other sectors closed in the negative territory. The Consumer
Durables, FMCG and Oil & Gas counters were among the
major losers. Despite a weak session, the advance to
decline ratio remained in favor of the advancing counters.
(A=1741 D=1272) (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
Actionable points:
Trading strategy:
We witnessed a slight negative session yesterday, which we
View
Neutral
feel was quite evident after witnessing a huge rally and
Support Levels
8075 - 8050
reaching important levels. As expected, the Nifty extended
Resistance Levels
8140 - 8180
its losses towards
8075 after breaching the important
intraday support level of 8125. However, we maintain our
overall positive stance on the market and expect it to
bounce back towards 8140 - 8180 as long as it remains
above the strong and crucial support level of the hourly ’89
EMA’ placed around the 8050 mark. Going forward, we
are of the opinion that if the index manages to slide below
8075 then we expect it to find a strong support around the
8050 mark. Meanwhile, traders can continue to concentrate
on the individual stocks.
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Daily Technical Report
September 11, 2014
Bank Nifty Outlook - (16152)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, unlike the benchmark index, the Bank Nifty
managed to open on a flat note and in fact, considering
the overall intraday movement, it has clearly
outperformed the Nifty by closing with very negligible
losses. This was quite in-line with our expectation as we
had clearly mentioned about the positive intraday chart
structure in our previous report. Going forward, we
maintain our positive stance on the Bank Nifty and expect
it to test previously mentioned levels of 16350 - 16450.
On the flipside, 16050 would now act as an intraday
support for the index.
Actionable points:
View
Bullish
Expected Targets
16350 - 16450
Support Level
16050
Source: Falcon
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Daily Technical Report
September 11, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,876
26,967
27,109
27,200
27,342
NIFTY
8,050
8,072
8,104
8,126
8,158
BANKNIFTY
15,995
16,074
16,132
16,210
16,269
ACC
1,504
1,518
1,535
1,549
1,566
AMBUJACEM
214
215
217
219
221
ASIANPAINT
645
649
657
662
669
AXISBANK
412
414
417
419
421
BAJAJ-AUTO
2,302
2,328
2,347
2,373
2,391
BANKBARODA
880
893
903
916
926
BHARTIARTL
400
404
408
412
416
BHEL
215
217
220
222
225
BPCL
664
670
682
688
699
CAIRN
324
329
335
339
345
CIPLA
571
574
578
582
586
COALINDIA
364
369
377
382
390
DLF
169
173
176
179
182
DRREDDY
2,968
2,985
2,999
3,016
3,030
GAIL
448
452
457
462
467
GRASIM
3,563
3,603
3,640
3,681
3,718
HCLTECH
1,612
1,624
1,640
1,651
1,667
HDFC
1,019
1,027
1,040
1,048
1,061
HDFCBANK
848
853
859
864
870
HEROMOTOCO
2,620
2,651
2,706
2,738
2,793
HINDALCO
168
170
173
175
177
HINDUNILVR
742
746
749
753
756
ICICIBANK
1,534
1,552
1,565
1,583
1,596
IDFC
138
142
144
148
150
INDUSINDBK
615
624
630
638
644
INFY
3,630
3,649
3,678
3,697
3,726
ITC
347
349
353
355
359
JINDALSTEL
232
235
238
241
244
KOTAKBANK
1,053
1,059
1,066
1,072
1,080
LT
1,569
1,577
1,588
1,596
1,607
LUPIN
1,324
1,334
1,347
1,356
1,370
M&M
1,366
1,376
1,387
1,397
1,408
MARUTI
2,869
2,888
2,904
2,923
2,939
MCDOWELL-N
2,216
2,238
2,258
2,280
2,300
NMDC
178
179
181
183
185
NTPC
138
139
140
140
142
ONGC
438
442
446
450
455
PNB
931
942
949
959
967
POWERGRID
133
134
136
137
138
RELIANCE
1,003
1,009
1,019
1,026
1,036
SBIN
2,509
2,529
2,546
2,567
2,583
SSLT
275
280
284
290
293
SUNPHARMA
849
854
861
866
873
TATAMOTORS
508
512
517
521
525
TATAPOWER
87
88
90
91
93
TATASTEEL
509
514
519
524
528
TCS
2,560
2,580
2,611
2,632
2,663
TECHM
2,406
2,425
2,450
2,469
2,494
ULTRACEMCO
2,652
2,666
2,691
2,705
2,729
WIPRO
575
578
584
588
594
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Daily Technical Report
September 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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