Daily Technical Report
August 12, 2015
Sensex (27866) / Nifty (8462)
Exhibit 1: Nifty Daily Chart
Yesterday’s session opened marginally higher as indicated by
the SGX Nifty. However, this early morning lead was very short
lived as witnessed a decent correction post the initial hour of
the session. As a result, the Nifty eventually closed well below
the 8500 mark. The ‘IT’ was the only sector which was bucking
the broader market trend. On the other hand, the Banking,
Capital Goods, Oil & Gas and Metal sectors ended with a
sharp cut. The advance to decline ratio was strongly in favor of
the declining counters. (A=990 D=1900) (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:
Despite overnight strong cues from the US and the European
View
Neutral
bourses, our markets opened slightly higher and then
Resistance Levels
8520 - 8560
immediately gave away these gains. The Nifty remains under
pressure during the first half and then poor set of 1QFY2016
Support Levels
8440 - 8400
numbers from the State Bank of India (SBI) added insult to
injury. In the process, the Nifty sneaked below the 8500 mark
and then remained well below it to end the session with nearly
three fourth of a percent cut. As shown in the exhibit, the Nifty
has now reached the strong support zone of the ‘Upward
Sloping Trend Line’ as well as the daily ’89 EMA’. Thus, going
forward, 8440 - 8400 would be seen as a crucial support for
the index; whereas, on the upside, The intraday resistance is
seen at 8520 and 8560 levels. It’s advisable to remain light on
positions and follow strict losses for your existing positions.
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Daily Technical Report
August 12, 2015
Bank Nifty Outlook - (18617)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened on a flat note and started
selling from the initial trades. Bears were active from the first
tick and continued to sell banking index on every bounce.
The fall was hastened in the second half as the banking
conglomerate SBI Bank post below than expected numbers.
Eventually, the banking index closed with the loss of 1.37
percent. Yesterday’s decline was in our expected lines as we
already indicated in our previous report that the sharp fall
around the resistance levels is not a good sign for the index.
Going forward, we may see continuation in the current
corrective move till the next support of 18470 and 18380
levels. On the flipside, 18840 level will now act as a crucial
resistance.
Actionable points:
View
Neutral
Resistance Levels
18840
Support Levels
18470 - 18380
Source: Falcon
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Daily Technical Report
August 12, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,586
27,726
27,966
28,106
28,345
NIFTY
8,372
8,417
8,487
8,532
8,602
BANKNIFTY
18,334
18,475
18,697
18,838
19,060
ACC
1,349
1,362
1,374
1,386
1,398
AMBUJACEM
218
220
223
226
229
ASIANPAINT
865
874
890
900
916
AXISBANK
558
565
573
579
587
BAJAJ-AUTO
2,502
2,521
2,544
2,563
2,586
BANKBARODA
170
174
179
183
189
BHARTIARTL
397
401
407
410
416
BHEL
261
264
269
272
277
BOSCHLTD
24,893
25,737
26,228
27,072
27,563
BPCL
894
910
930
945
965
CAIRN
160
161
163
164
166
CIPLA
706
712
721
727
736
COALINDIA
378
385
398
405
417
DRREDDY
4,117
4,170
4,239
4,292
4,361
GAIL
340
342
344
346
348
GRASIM
3,644
3,682
3,740
3,778
3,836
HCLTECH
932
936
941
945
950
HDFC
1,271
1,281
1,294
1,304
1,317
HDFCBANK
1,078
1,086
1,093
1,101
1,107
HEROMOTOCO
2,642
2,665
2,692
2,715
2,742
HINDALCO
99
101
105
107
110
HINDUNILVR
872
880
893
901
914
ICICIBANK
295
299
304
308
313
IDEA
157
159
162
164
168
INDUSINDBK
934
943
948
956
961
INFY
1,086
1,098
1,107
1,119
1,128
ITC
314
317
319
323
325
KOTAKBANK
694
699
705
710
716
LT
1,760
1,780
1,803
1,823
1,846
LUPIN
1,667
1,682
1,696
1,712
1,726
M&M
1,314
1,327
1,348
1,361
1,382
MARUTI
4,432
4,468
4,501
4,537
4,570
NMDC
100
102
103
104
106
NTPC
128
130
131
132
134
ONGC
264
267
272
275
280
PNB
150
153
157
160
164
POWERGRID
133
135
138
141
143
RELIANCE
950
958
966
974
982
SBIN
253
261
275
283
297
VEDL
118
121
126
128
133
SUNPHARMA
825
833
840
848
855
TATAMOTORS
354
362
375
382
395
TATAPOWER
67
68
69
69
70
TATASTEEL
237
242
251
256
265
TCS
2,518
2,561
2,585
2,629
2,653
TECHM
525
533
539
547
553
ULTRACEMCO
3,114
3,135
3,168
3,189
3,223
WIPRO
550
558
563
571
575
YESBANK
780
789
806
815
832
ZEEL
405
410
414
419
423
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Daily Technical Report
August 12, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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