Daily Technical Report
January 15, 2015
Sensex (27347) / Nifty (8278)
Exhibit 1: Nifty Hourly Chart
Yesterday, we witnessed a flat opening in our market
considering quiet global cues. The index then corrected
sharply from morning high to test the 8250 mark. But, post
the midsession; we witnessed a modest recovery in the
market, which led to a close marginally in the negative
territory. Barring IT and Power, all other sectors closed in
the red amongst which the Metal, Healthcare, Oil & Gas
and FMCG were the major draggers. The advance to
decline ratio was in favor of the declining counters.
(A=1259 D=1599) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27127 / 8133 and 23696 / 7093 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27452 / 8261 and 27153 / 8142 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, our benchmark index opened quietly and then
View
Neutral
moved towards the 8350 mark. This level coincided with the
Resistance Levels
8340 - 8360
‘Rising Wedge’ pattern breakout point seen in the hourly
Support Levels
8236 - 8190
chart. As a result, we witnessed a sharp correction from this
resistance zone and as expected, the index managed to
break the support level of 8260. However, the bears lost
their grip and hence, we witnessed a v-shape recovery after
posting a low of 8236.55. At the end, the bears somehow
managed to maintain their dominance by ending the
session well below the 8300 mark. Going forward, we
maintain our negative view on the market and expect the
index to correct sharply after breaking yesterday’s low of
8236. In this scenario, the index may correct towards 8190
- 8130 levels. On the upside, the resistance zone is seen
around 8340 - 8360 levels.
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Daily Technical Report
January 15, 2015
Bank Nifty Outlook - (18604)
Exhibit 2: Bank Nifty Hourly Chart
Yesterday, the Bank Nifty too opened quietly and then
corrected during the first half. On the hourly chart, we
observed index finding a strong support around the
‘Upward Sloping Trend Line’ placed at 18550. Going
forward, we may witness a sharp correction once the
index manages to give an hourly close below this support
level. In this scenario, the index may immediately slide
towards 18400 - 18300 levels. On the flipside, 18700 -
18800 levels are likely to act as a strong resistance zone
for the index.
Actionable points:
View
Neutral
Resistance Levels
18700 - 18800
Support Levels
18550 - 18400
Source: Falcon
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Daily Technical Report
January 15, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,045
27,196
27,354
27,505
27,664
NIFTY
8,190
8,234
8,280
8,324
8,370
BANKNIFTY
18,379
18,491
18,630
18,743
18,882
ACC
1,429
1,454
1,469
1,494
1,509
AMBUJACEM
228
231
232
234
236
ASIANPAINT
821
832
841
852
861
AXISBANK
488
494
500
506
511
BAJAJ-AUTO
2,299
2,331
2,351
2,383
2,402
BANKBARODA
1,058
1,066
1,077
1,085
1,096
BHARTIARTL
343
344
346
348
350
BHEL
253
261
266
274
279
BPCL
632
642
659
669
686
CAIRN
228
230
233
235
237
CIPLA
621
626
634
639
647
COALINDIA
358
361
363
365
367
DLF
131
132
134
135
136
DRREDDY
3,175
3,192
3,207
3,224
3,240
GAIL
408
417
425
434
442
GRASIM
3,510
3,538
3,569
3,598
3,629
HCLTECH
1,527
1,553
1,576
1,602
1,624
HDFC
1,099
1,110
1,123
1,134
1,148
HDFCBANK
951
958
966
972
981
HEROMOTOCO
2,862
2,882
2,904
2,924
2,945
HINDALCO
134
138
145
149
155
HINDUNILVR
866
895
915
944
963
ICICIBANK
328
333
337
341
346
IDFC
154
155
157
158
160
INDUSINDBK
798
808
820
829
842
INFY
2,078
2,103
2,118
2,144
2,158
ITC
338
343
351
356
365
JINDALSTEL
141
144
148
151
155
KOTAKBANK
1,368
1,380
1,389
1,400
1,409
LT
1,483
1,501
1,517
1,535
1,551
LUPIN
1,396
1,410
1,424
1,438
1,452
M&M
1,203
1,220
1,241
1,258
1,279
MARUTI
3,433
3,475
3,503
3,544
3,572
NMDC
130
131
134
135
137
NTPC
135
137
138
140
141
ONGC
336
340
343
347
350
PNB
197
200
204
207
211
POWERGRID
134
135
136
137
138
RELIANCE
822
828
838
844
854
SBIN
300
302
305
307
309
SSLT
175
182
192
199
209
SUNPHARMA
804
813
825
833
846
TATAMOTORS
508
514
520
527
533
TATAPOWER
78
78
79
80
80
TATASTEEL
365
371
381
387
397
TCS
2,487
2,504
2,518
2,536
2,549
TECHM
2,735
2,763
2,780
2,808
2,824
ULTRACEMCO
2,796
2,852
2,886
2,942
2,975
WIPRO
538
545
557
564
577
ZEEL
355
357
361
363
367
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Daily Technical Report
January 15, 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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