Daily Technical Report
September 15, 2015
Sensex (25857) / Nifty (7872)
Exhibit 1: Nifty Daily Chart
The opening session of the week started slightly higher
despite mixed global cues. Subsequently, the index corrected
a bit from day’s high in the initial trades. However, a smart
recovery throughout the remaining part of the day resulted in
a decent up move of 1.06 percent over the previous close.
Barring nominal loss from the Consumer Durables pack, all
other sectors closed well inside the positive territory amongst
which The Metal, Power, Banking and Oil & Gas were the
major gainers. The advance to decline ratio was strongly in
favor of the advancing counters. (A=1703 D=951) (Source:
www.bseindia.com).
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27205 / 8242 and 25903 / 7807 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 26123 / 7930 and 27287 / 8367 levels, respectively.
Actionable points:
Trading strategy:
Better-than-expected IIP (Index of Industrial Production)
View
Neutral
numbers post the market hours on Friday led to a kick start for
Resistance Levels
7920 - 7980
the current week as the benchmark index shrugged off mixed
Support Level
7759
global cues and opened nearly half a percent higher.
Subsequently, we witnessed some correction during the initial
trades and in the process, the Nifty slipped into a negative
territory. However, Friday’s low of 7759.90 provided a strong
support for our market. In addition, a strong optimistic mood
throughout the remaining part pushed the index much higher
from the intraday low of 7761.85 and then went on to break
the 7850 mark on a closing basis. As mentioned in our earlier
report, the hourly chart structure now indicates possibility of a
further bounce towards 7920 - 7980 levels. However, it must
be noted that the directional view still remains negative and
thus, traders are advised not to trade aggressively in this
bounce. In fact, momentum traders should focus on stock
specific moves and should lighten up their positions in the
bounce. On the downside, 7759 would now be seen as an
immediate support for the index.
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Daily Technical Report
September 15, 2015
Bank Nifty Outlook - (16912)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened on a flat note and then
started its movement in an upward direction from the initial
trades. The index continuously managed to make ‘Higher
Highs’ throughout the session. Eventually, the Banking index
outperformed the broader indices by giving a close with
gains of 1.80 percent. Due to yesterday’s price action, the
index is now approaching the resistance zone of 17000 -
17100 levels. Any sustainable move above this mentioned
zone may push the index further to test 17330 - 17500
levels. On the flipside, the immediate support is placed at
16780 and 16500 levels.
Actionable points:
View
Neutral
Resistance Levels
17100 - 17330
Support Levels
16780 - 16500
Source: Falcon
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Daily Technical Report
September 15, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,399
25,628
25,760
25,989
26,120
NIFTY
7,720
7,796
7,838
7,914
7,956
BANKNIFTY
16,379
16,645
16,792
17,058
17,204
ACC
1,351
1,370
1,384
1,403
1,417
AMBUJACEM
203
207
210
214
216
ASIANPAINT
810
825
834
849
857
AXISBANK
472
484
491
503
510
BAJAJ-AUTO
2,270
2,292
2,318
2,341
2,367
BANKBARODA
179
183
185
189
191
BHARTIARTL
343
349
352
357
361
BHEL
209
211
213
215
216
BOSCHLTD
21,635
21,969
22,179
22,514
22,724
BPCL
846
863
875
892
903
CAIRN
137
140
143
146
149
CIPLA
646
653
658
666
671
COALINDIA
328
333
337
343
346
DRREDDY
3,950
3,996
4,023
4,069
4,096
GAIL
281
286
289
295
298
GRASIM
3,435
3,456
3,477
3,498
3,520
HCLTECH
912
920
926
934
939
HDFC
1,154
1,169
1,179
1,194
1,204
HDFCBANK
993
1,002
1,012
1,021
1,031
HEROMOTOCO
2,303
2,326
2,343
2,366
2,383
HINDALCO
75
77
78
80
81
HINDUNILVR
782
788
795
801
807
ICICIBANK
259
266
270
276
280
IDEA
144
147
148
151
152
INDUSINDBK
863
870
875
882
887
INFY
1,074
1,087
1,095
1,108
1,117
ITC
310
312
313
315
317
KOTAKBANK
623
634
642
653
661
LT
1,573
1,590
1,604
1,621
1,635
LUPIN
1,753
1,781
1,814
1,842
1,875
M&M
1,142
1,157
1,169
1,184
1,195
MARUTI
4,255
4,287
4,317
4,349
4,379
NMDC
99
101
102
104
106
NTPC
117
122
124
128
131
ONGC
224
227
229
231
233
PNB
133
135
136
139
140
POWERGRID
122
125
126
129
131
RELIANCE
847
855
860
869
874
SBIN
228
232
234
238
240
VEDL
94
98
100
103
105
SUNPHARMA
840
849
854
862
867
TATAMOTORS
338
342
347
351
355
TATAPOWER
59
60
61
63
64
TATASTEEL
230
236
240
245
249
TCS
2,531
2,541
2,553
2,563
2,575
TECHM
510
518
524
532
537
ULTRACEMCO
2,901
2,925
2,944
2,968
2,988
WIPRO
554
563
568
577
583
YESBANK
696
714
724
742
752
ZEEL
389
392
395
397
400
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Daily Technical Report
September 15, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Sameet Chavan
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Technical Analyst
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