Daily Technical Report
February 12, 2015
Sensex (28534) / Nifty (8627)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened slightly higher despite
unfavorable cues from the SGX Nifty. The index then
maintained its positive momentum throughout the session
and eventually closed with 0.72% gains. All sectors during
the session ended in the positive territory amongst which the
Capital Goods, Banking, Oil & Gas and Healthcare were
the major gainers. The advance to decline ratio was
strongly in favor of the advancing counters. (A=1728
D=1074) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27671 / 8325 and 24140 / 7232 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 28682 / 8657 and 27724 / 8329 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, the SGX Nifty was indicating a gap down start;
View
Neutral
but, our market shrugged off this signal and opened higher
Resistance Levels
8650 - 8670
by nearly half a percent. The index then continued it’s
Support Levels
8500 - 8450
gentle up move throughout the session and eventually
closed tad lower than the 8650 mark. As mentioned in our
previous report, we maintain our view that so long as the
Nifty sustains below 8650 - 8670 on a closing basis , the
index is likely to remain under pressure and hence, can
slide towards 8500 - 8450 levels. A negative crossover of
daily
‘5 &
20 EMA’ also supports this hypothesis.
Considering enhanced volatility in the market, we advise
traders to trade with proper exit strategy and avoid taking
undue risks.
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Daily Technical Report
February 12, 2015
Bank Nifty Outlook - (18941)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened marginally
higher and then consolidated throughout the remaining
session. However, the bias remained positive and hence,
the Bank Nifty managed to close with a percent gain.
Since, there is no major change in the chart structure; we
maintain our view that the Bank Nifty has a strong
resistance zone around 19200 - 19300 levels. If the
index manages to surpass this resistance zone on a
closing basis then only we may witness further bounce
towards 19500 - 19600 levels. However, if we witness a
selling pressure in the index heavyweights then we may
again witness Bank Nifty correcting back to 18400 -
18200 levels.
Actionable points:
View
Neutral
Resistance Level
19200 - 19300
Source: Falcon
Support Levels
18400 - 18200
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Daily Technical Report
February 12, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,331
28,433
28,526
28,627
28,720
NIFTY
8,566
8,597
8,624
8,655
8,683
BANKNIFTY
18,800
18,870
18,961
19,031
19,122
ACC
1,529
1,541
1,558
1,570
1,586
AMBUJACEM
247
249
251
252
254
ASIANPAINT
821
831
838
848
855
AXISBANK
549
559
566
576
583
BAJAJ-AUTO
2,236
2,258
2,276
2,298
2,316
BANKBARODA
175
178
180
183
186
BHARTIARTL
342
349
355
362
368
BHEL
247
251
258
262
269
BPCL
686
699
708
721
730
CAIRN
246
249
251
254
256
CIPLA
626
631
636
641
646
COALINDIA
365
368
373
376
381
DLF
154
156
158
161
163
DRREDDY
3,095
3,124
3,152
3,181
3,209
GAIL
402
406
410
414
418
GRASIM
3,750
3,797
3,842
3,890
3,935
HCLTECH
1,902
1,929
1,948
1,975
1,994
HDFC
1,226
1,236
1,252
1,262
1,277
HDFCBANK
1,047
1,053
1,059
1,064
1,071
HEROMOTOCO
2,676
2,715
2,740
2,779
2,804
HINDALCO
145
147
149
152
154
HINDUNILVR
878
889
896
907
914
ICICIBANK
330
332
336
338
342
IDFC
164
166
168
171
173
INDUSINDBK
835
845
854
864
873
INFY
2,241
2,263
2,278
2,300
2,315
ITC
366
368
371
373
376
JINDALSTEL
136
144
149
156
162
KOTAKBANK
1,272
1,285
1,294
1,307
1,315
LT
1,567
1,590
1,607
1,630
1,647
LUPIN
1,539
1,565
1,582
1,608
1,626
M&M
1,107
1,120
1,136
1,150
1,166
MARUTI
3,379
3,417
3,444
3,482
3,509
NMDC
136
138
139
141
142
NTPC
135
138
139
142
144
ONGC
336
341
348
353
361
PNB
164
167
169
171
173
POWERGRID
143
144
147
148
150
RELIANCE
874
888
896
909
918
SBIN
278
282
288
292
298
SSLT
198
203
207
213
217
SUNPHARMA
911
918
928
935
944
TATAMOTORS
543
551
561
569
579
TATAPOWER
81
82
82
83
83
TATASTEEL
347
356
362
371
378
TCS
2,425
2,442
2,465
2,482
2,505
TECHM
2,735
2,788
2,823
2,877
2,911
ULTRACEMCO
2,956
2,982
3,001
3,027
3,046
WIPRO
624
631
640
647
656
ZEEL
336
341
346
351
357
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Daily Technical Report
February 12, 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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