Daily Technical Report
January 15, 2014
Sensex (21033) / Nifty (6242)
Exhibit 1: Nifty Daily Chart
On Tuesday, our benchmark indices opened on a flat note
considering mixed global cues. Throughout the session, the
index remained range bound with slight negative bias and
eventually closed with half a percent cut. On the sectoral front,
excluding Healthcare and Oil & Gas, all other sectors closed in
the red. The Metal and Realty counters underperformed the
benchmark indices.The advance to decline ratio was in favor of
the
declining
counters.
(A=1173 D=1523)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20518 / 6105 and 19329 / 5796 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20908 / 6222 and 20529 / 6107 levels, respectively.
The ‘Bearish Engulfing’ Japanese candlestick pattern on
the weekly chart is still intact.
The daily ‘Stochastic’ momentum oscillator is now showing
Source: Falcon
a positive crossover.
Actionable points:
Trading strategy:
View
Neutral
Yesterday, our market opened on a subdued note but
Support Levels
6229 - 6189
gradually descended throughout the session. The Nifty is
Resistance Levels
6330 - 6360
currently trading above the hourly '89 EMA' placed at 6229
and this can be considered as a decent support in the coming
trading session. A sustainable move below this level may result
in a decline towards 6189 - 6129 levels. On the flipside, the
positive placement of daily momentum oscillators indicate a
possibility of testing 6330 - 6360 if the index manages to
sustain above 6289.
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Daily Technical Report
January 15, 2014
Bank Nifty Outlook - (10949)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened flat in line with the
benchmark indices and traded in a range with negative
bias throughout the session to close in the red. Since there
is no major change in the chart structure, we reiterate our
view that, the index is likely to face the strong resistance
zone of the hourly '89 EMA' and the daily '20 EMA' placed
at 11118 and 11148, respectively. Only a sustainable
move beyond this zone may open up bullish prospects for
the banking index. On the other hand, 10814 would act
as a support and a fall below this level may result in a
decline towards 10780 - 10620 levels.
Actionable points:
View
Neutral
Support Levels
10814 - 10780 - 10620
Source: Falcon
Resistance levels
11143 - 11169
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Daily Technical Report
January 15, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,920
20,976
21,066
21,122
21,211
NIFTY
6,206
6,224
6,252
6,270
6,298
BANKNIFTY
10,836
10,892
10,979
11,036
11,122
ACC
1,000
1,010
1,027
1,037
1,054
AMBUJACEM
165
166
169
170
172
ASIANPAINT
480
483
490
494
500
AXISBANK
1,156
1,166
1,180
1,191
1,204
BAJAJ-AUTO
1,844
1,857
1,878
1,891
1,912
BANKBARODA
605
613
619
627
633
BHARTIARTL
323
325
329
331
335
BHEL
160
161
163
164
166
BPCL
323
326
330
332
336
CAIRN
322
326
329
334
337
CIPLA
397
404
408
415
419
COALINDIA
281
285
290
294
300
DLF
153
155
158
160
163
DRREDDY
2,595
2,622
2,644
2,671
2,693
GAIL
340
342
345
348
351
GRASIM
2,529
2,547
2,578
2,596
2,627
HCLTECH
1,299
1,310
1,326
1,337
1,354
HDFC
813
819
823
828
832
HDFCBANK
665
668
672
676
680
HEROMOTOCO
2,014
2,026
2,038
2,049
2,061
HINDALCO
107
108
110
111
112
HINDUNILVR
530
534
542
546
553
ICICIBANK
1,015
1,026
1,043
1,054
1,071
IDFC
98
99
100
101
102
INDUSINDBK
407
413
417
423
427
INFY
3,620
3,653
3,674
3,708
3,729
ITC
320
322
326
328
332
JINDALSTEL
246
250
256
260
266
JPASSOCIAT
46
47
48
48
49
KOTAKBANK
698
705
714
721
730
LT
950
961
979
990
1,008
LUPIN
906
920
930
944
953
M&M
873
882
892
900
910
MARUTI
1,742
1,758
1,775
1,790
1,807
NMDC
135
136
139
141
144
NTPC
130
131
132
132
133
ONGC
283
287
290
293
296
PNB
591
596
602
607
613
POWERGRID
96
97
98
98
99
RANBAXY
417
423
432
439
447
RELIANCE
867
874
880
887
892
RELINFRA
393
397
401
405
409
SBIN
1,608
1,618
1,633
1,643
1,659
SESAGOA
187
190
194
197
202
SUNPHARMA
594
599
603
608
612
TATAMOTORS
364
368
372
376
379
TATAPOWER
77
78
78
79
79
TATASTEEL
363
369
379
384
395
TCS
2,279
2,303
2,344
2,368
2,409
ULTRACEMCO
1,615
1,631
1,651
1,667
1,687
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Daily Technical Report
January 15, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
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