Daily Technical Report
December 12, 2014
Sensex (27602) / Nifty (8293)
Exhibit 1: Nifty Daily Chart
Yesterday, once again, we witnessed a minor gap down
opening in our market as indicated by the pre-opening
session. However, the selling pressure aggravated right
from the initial trades and as a result, the index slipped
below the 8300 mark. Despite a decent recovery post the
mid session, the index eventually managed to close with
0.75% losses. Barring Healthcare, all other sectors ended in
the negative territory amongst which the Oil & Gas, Realty
and IT sectors were the major draggers. The advance to
decline ratio was strongly in favor of the declining counters.
(A=1139 D=1745) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 26898 / 8053 and 23250 / 6954 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 28180 / 8444 and 26953 / 8058 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
The impact of negative global cues was seen on our market
View
Neutral
during the initial hour as the index opened marginally lower
Support Levels
8250 - 8200
and then fell sharply to breach the psychological level of
Resistance Level
8347
8300. However, the 38.2% Fibonacci retracement level
(8280) of the recent rally from 7723.85 (Low on October
17,
2014) to 8626.95 (high on December 04,
2014)
coincided around yesterday’s low of 8272. Hence, the index
took a v-shape recovery post the mid session. However, the
hourly ’20 EMA’ level of 8340 acted as a strong resistance
for the Nifty. As a result, the index once again came off
sharply to close below the 8300 mark. As mentioned in our
previous report, the initial target of 8280 got achieved
during yesterday’s session and we continue to expect lower
levels of 8250 - 8200 in coming trading sessions. On the
flipside, Yesterday’s high of 8347.90 would now act as an
immediate resistance for the index. Only a sustainable
move beyond this level may push the index towards 8410 -
8430 levels.
www.angelbroking.com
1
Daily Technical Report
December 12, 2014
Bank Nifty Outlook - (18405)
Exhibit 2: Bank Nifty Daily Chart
Yesteray, similar to the benchmark index, the Bank Nifty
too corrected sharply during the initial hour and then
pared down all losses. However, towards the fag end of
the session, the Bank Nifty didn’t fall much as compared
to the Nifty. The banking index showed its
outperformance by losing merely
0.31% from the
previous close. Looking at the daily chart, it can be clearly
seen that the Bank Nifty has a strong support at 18183,
which coincides with the daily ’20 EMA’. Hence, going
forward, only a sustainable move below this support level
may trigger a strong pessimism in the index. As a result,
we may witness immediate correction towards 17950 -
17850 levels. On the flipside, if the index manages to
surpass the
18550 mark then we may witness a
resumption of the higher degree uptrend to test 18750 -
18800 levels.
Actionable points:
View
Neutral
Resistance Level
18550
Support Level
18183
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
December 12, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,389
27,496
27,646
27,752
27,903
NIFTY
8,229
8,261
8,305
8,337
8,380
BANKNIFTY
18,073
18,239
18,384
18,550
18,696
ACC
1,401
1,415
1,425
1,439
1,449
AMBUJACEM
220
221
224
226
228
ASIANPAINT
750
760
775
785
800
AXISBANK
474
482
488
497
503
BAJAJ-AUTO
2,513
2,538
2,565
2,590
2,617
BANKBARODA
1,028
1,051
1,070
1,092
1,111
BHARTIARTL
332
338
348
353
363
BHEL
242
248
255
261
268
BPCL
645
654
667
676
689
CAIRN
247
249
252
254
257
CIPLA
634
638
645
649
656
COALINDIA
351
358
361
368
371
DLF
150
153
157
160
164
DRREDDY
3,286
3,358
3,403
3,475
3,520
GAIL
435
439
446
450
457
GRASIM
3,301
3,330
3,370
3,399
3,438
HCLTECH
1,522
1,537
1,558
1,574
1,595
HDFC
1,074
1,084
1,097
1,106
1,119
HDFCBANK
921
927
931
938
942
HEROMOTOCO
3,053
3,084
3,130
3,161
3,208
HINDALCO
149
152
155
158
160
HINDUNILVR
784
790
796
803
809
ICICIBANK
340
344
348
353
357
IDFC
151
155
158
162
165
INDUSINDBK
764
771
778
785
792
INFY
1,891
1,906
1,930
1,945
1,969
ITC
387
392
395
400
404
JINDALSTEL
138
141
145
148
152
KOTAKBANK
1,221
1,234
1,243
1,256
1,265
LT
1,478
1,508
1,533
1,563
1,589
LUPIN
1,405
1,421
1,434
1,450
1,462
M&M
1,245
1,256
1,269
1,280
1,293
MARUTI
3,261
3,301
3,327
3,366
3,392
NMDC
133
135
137
139
141
NTPC
132
133
134
135
136
ONGC
340
345
352
357
365
PNB
1,064
1,083
1,104
1,123
1,144
POWERGRID
133
134
136
138
139
RELIANCE
887
897
913
922
938
SBIN
306
310
314
318
322
SSLT
215
218
222
225
228
SUNPHARMA
820
827
836
843
852
TATAMOTORS
490
497
505
512
520
TATAPOWER
83
84
86
87
88
TATASTEEL
406
412
424
430
442
TCS
2,465
2,478
2,501
2,514
2,537
TECHM
2,528
2,574
2,601
2,646
2,674
ULTRACEMCO
2,425
2,455
2,498
2,528
2,572
WIPRO
539
543
548
552
558
ZEEL
361
365
370
375
379
www.angelbroking.com
3
Daily Technical Report
December 12, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4