Daily Technical Report
September 16, 2015
Sensex (25706) / Nifty (7829)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened marginally
lower owing to mildly negative cues from the global
bourses. The index then traded within a narrow range
throughout the session; but, maintained its negative bias
to end the session with more than half a percent cut.
Barring nominal gains from the FMCG and IT pack, all
other sectors closed well inside the negative territory;
amongst which the Metal, Capital Goods, Auto and
Consumer Durables were the major losers. The advance
to decline ratio was strongly in favor of the declining
counters. (A=1096 D=1541) (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
Source: Falcon
placed at 26123
/
7930 and 27287
/
8367 levels,
respectively.
Actionable points:
Trading strategy:
View
Neutral
A decent up move on Monday was followed by a soft
Resistance Levels
7900 - 7920
opening in our market. The index remained within a small
Support Level
7759
range by maintaining mildly negative bias throughout
the session. It appears that traders choose to take some
money off the table ahead of the FOMC meet slated on
Thursday. Despite yesterday's cautious move, we are of
the opinion that we may witness a good traction in the
market which may push the index towards 7900 - 7920
levels. In this case, traders should look to lighten their
positions before the global event (FOMC meet). For the
coming trading session, 7759 would now be seen as an
immediate support for the index.
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Daily Technical Report
September 16, 2015
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (16740)
After a flat opening, the Bears came in the front seat
from the first tick and started driving the Bank Nifty
southwards. The selling pressure persisted throughout
the session as all intraday bounces was getting sold
into. Eventually, the banking index ended the session
with a loss of 1.02 percent over its previous close. Due
to yesterday’s price action, the Bank Nifty has
breached its trend line support in the intraday chart
and managed to close below the same. However, to
extend this weakness towards 16500 - 16400, the Bank
Nifty needs to sustain below yesterday's low. In case of
absence of an intraday pessimism in the broader
market, the Bank Nifty may give a decent up move
towards 17000 - 17100. In this scenario, we maintain our
view that traders should look to book their profits and
stay light on positions. On the flipside, the immediate
support for the index is placed at 16500 - 16400.
Actionable points:
Source: Falcon
View
Neutral
Resistance Levels
17000 - 17100
Support Levels
16500 - 16400
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Daily Technical Report
September 16, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,495
25,600
25,755
25,861
26,016
NIFTY
7,756
7,793
7,836
7,873
7,917
BANKNIFTY
16,542
16,641
16,780
16,879
17,018
ACC
1,361
1,371
1,382
1,392
1,403
AMBUJACEM
198
201
206
210
215
ASIANPAINT
810
820
834
845
859
AXISBANK
470
476
487
494
505
BAJAJ-AUTO
2,264
2,280
2,298
2,314
2,331
BANKBARODA
177
179
183
186
190
BHARTIARTL
346
349
351
354
356
BHEL
208
210
212
214
216
BOSCHLTD
21,607
21,814
22,082
22,289
22,557
BPCL
860
870
881
891
902
CAIRN
139
142
145
148
151
CIPLA
646
653
660
666
673
COALINDIA
334
336
338
340
343
DRREDDY
3,956
3,981
4,005
4,030
4,055
GAIL
285
288
290
292
295
GRASIM
3,429
3,443
3,462
3,476
3,495
HCLTECH
917
923
927
933
938
HDFC
1,158
1,169
1,177
1,188
1,196
HDFCBANK
1,002
1,008
1,014
1,019
1,025
HEROMOTOCO
2,282
2,297
2,319
2,333
2,356
HINDALCO
74
75
77
78
80
HINDUNILVR
784
794
801
812
819
ICICIBANK
263
266
270
272
276
IDEA
141
143
145
147
150
INDUSINDBK
865
874
881
890
896
INFY
1,082
1,091
1,097
1,106
1,112
ITC
311
314
316
319
321
KOTAKBANK
630
635
640
645
650
LT
1,510
1,534
1,574
1,598
1,639
LUPIN
1,805
1,819
1,838
1,852
1,871
M&M
1,130
1,141
1,156
1,167
1,183
MARUTI
4,260
4,298
4,359
4,398
4,458
NMDC
101
101
102
103
104
NTPC
122
124
127
129
132
ONGC
223
226
229
232
235
PNB
132
133
136
138
141
POWERGRID
124
126
128
130
132
RELIANCE
850
859
865
874
879
SBIN
229
232
235
237
241
VEDL
93
95
98
100
103
SUNPHARMA
848
857
864
874
881
TATAMOTORS
325
329
338
342
351
TATAPOWER
60
61
61
62
63
TATASTEEL
218
224
234
239
249
TCS
2,525
2,536
2,548
2,559
2,570
TECHM
522
532
537
547
553
ULTRACEMCO
2,869
2,896
2,930
2,957
2,991
WIPRO
562
566
570
574
578
YESBANK
716
722
732
738
748
ZEEL
389
392
395
397
400
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Daily Technical Report
September 16, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website:
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Sameet Chavan
-
Technical Analyst
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