Daily Technical Report
January 13, 2015
Sensex (27585) / Nifty (8323)
Exhibit 1: Nifty Daily Chart
Trading for the week began on a flat note amid quiet global
cues. The index consolidated in a narrow range for most
part of the session. But, strong up move during the latter
part of the day resulted in a close with nearly half a percent
gains. On the sectoral front, the Capital Goods, FMCG, IT
and Banking counters posted decent gains; whereas, the
Oil & Gas and Metal sectors remained under pressure. The
advance to decline ratio was in favor of the advancing
counters. (A=1651 D=1253) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27127 / 8133 and 23696 / 7093 levels, respectively.
Source: Falcon
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27452 / 8261 and 27153 / 8142 levels, respectively.
Actionable points:
Trading strategy:
Yesterday, we witnessed a continuation of previous couple
View
Neutral
of day’s up move in the concluding hour of the session. The
Resistance Levels
8360 - 8400
index gained another half a percent and eventually
Support Levels
8245 - 8190
managed to close beyond the 8300 mark. However, the
higher degree negative technical evidences still remain
intact. Thus, we maintain our negative view and advice
traders not to remain aggressively long in this market. On
the downside, the negative momentum would be resumed
once the Nifty sustains below yesterday’s low of 8245. In
this scenario, the index may correct towards 8190 - 8130
levels. On the upside, the resistance zone is seen around
8360 - 8400 levels.
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Daily Technical Report
January 13, 2015
Bank Nifty Outlook - (18796)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened on a quiet note;
but, we observed a clear outperformance from the entire
pack throughout the session. The Bank Nifty added nearly
a percent to the bull’s kitty. In our previous report, we had
mentioned about the trading range of 18900 to 18400
for the Bank Nifty. The Index is now approaching the
higher end of the range and hence, going forward, we
will have to closely observe Bank Nifty’s price movement
around the 18900 mark. If the banking index manages to
surpass this level on a sustainable basis then we may
witness an immediate up move towards 19100 - 19200.
On the flipside, the support zone is now seen around
18600 - 18500 levels.
Actionable points:
View
Neutral
Resistance Level
18900 - 19100
Support Levels
18600 - 18500
Source: Falcon
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Daily Technical Report
January 13, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,213
27,399
27,510
27,696
27,807
NIFTY
8,213
8,268
8,300
8,355
8,387
BANKNIFTY
18,424
18,610
18,716
18,902
19,008
ACC
1,382
1,393
1,401
1,413
1,420
AMBUJACEM
221
225
227
230
232
ASIANPAINT
791
799
809
817
827
AXISBANK
488
495
499
506
511
BAJAJ-AUTO
2,278
2,306
2,351
2,379
2,424
BANKBARODA
1,039
1,060
1,075
1,096
1,112
BHARTIARTL
342
345
351
354
359
BHEL
251
254
257
260
262
BPCL
665
671
678
684
691
CAIRN
228
232
236
240
245
CIPLA
620
625
631
637
642
COALINDIA
344
351
363
370
382
DLF
134
135
137
138
140
DRREDDY
3,095
3,151
3,183
3,239
3,270
GAIL
422
426
431
435
440
GRASIM
3,371
3,403
3,426
3,458
3,481
HCLTECH
1,527
1,551
1,565
1,589
1,603
HDFC
1,084
1,106
1,121
1,143
1,157
HDFCBANK
959
963
969
973
979
HEROMOTOCO
2,886
2,911
2,950
2,975
3,014
HINDALCO
148
149
152
154
157
HINDUNILVR
851
874
887
910
922
ICICIBANK
335
341
344
350
353
IDFC
151
153
155
157
159
INDUSINDBK
780
805
822
847
864
INFY
2,059
2,088
2,103
2,132
2,148
ITC
353
356
358
361
364
JINDALSTEL
145
147
150
152
155
KOTAKBANK
1,330
1,351
1,369
1,389
1,407
LT
1,480
1,507
1,522
1,549
1,564
LUPIN
1,408
1,419
1,427
1,439
1,447
M&M
1,208
1,221
1,229
1,242
1,250
MARUTI
3,425
3,444
3,464
3,483
3,502
NMDC
131
132
135
136
138
NTPC
137
139
140
141
143
ONGC
340
344
348
352
356
PNB
201
205
209
212
216
POWERGRID
133
135
137
139
141
RELIANCE
832
841
851
860
870
SBIN
299
303
305
310
312
SSLT
202
204
206
208
210
SUNPHARMA
827
831
834
838
841
TATAMOTORS
506
514
519
528
533
TATAPOWER
79
79
80
81
81
TATASTEEL
390
393
396
400
403
TCS
2,458
2,484
2,506
2,532
2,554
TECHM
2,659
2,706
2,733
2,780
2,807
ULTRACEMCO
2,663
2,682
2,708
2,727
2,753
WIPRO
543
550
554
561
566
ZEEL
350
356
359
365
368
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Daily Technical Report
January 13, 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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