Daily Technical Report
August 17, 2015
Sensex (28067) / Nifty (8519)
Exhibit 1: Nifty Daily Chart
The concluding session on Friday opened slightly higher
owing to positive global cues. Subsequently, we witnessed a
tremendous buying emerging in our market after three weak
sessions. In fact, the momentum accelerated as the day
progressed which resulted in a stupendous rally of nearly two
percent. On sectoral indices front, all the sectors managed to
end in positive territory. Amongst the, the Banking, Realty,
Auto and Healthcare indices rallied the most. The advance to
decline ratio was strongly in favor of the advancing counters.
(A=1797 D=1040) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27818 / 8421 and 25870 / 7795 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 27933 / 8475 and 27840 / 8440 levels, respectively.
Trading strategy:
Actionable points:
The price action in the concluded week can be perfectly
described as a see-saw between the market participants. After
View
Neutral
a couple of weeks’ pause, global uncertainties once again
Resistance Levels
8580 - 8650
spooked our markets. In line with the depreciation in most
Support Levels
8480 - 8440
leading global currencies, particularly the Chinese Yuan, vis-à-
vis the USD, the Indian Rupee (INR) too depreciated and is
currently trading at a two-year low level.
We maintain our view that in order to scale higher, the Nifty
Coming back to our domestic equity markets, technically
will have to convincingly surpass the 8650 mark. In this
speaking, we have been clearly observing a major hurdle for
scenario, a possibility of moving towards 8720 - 8800 levels
the Nifty around the 8650 mark since the last few weeks.
increases. To summarize, the Nifty is stuck in a small range
During the week’s trading, the inability to cross this resistance
of 8650 to 8315. A sustainable breakout in either direction
contrarily led to a sharp correction of more than 250 points in
beyond these levels will dictate the near term direction of
the Nifty in a short span of three days. Things were looking
the market. It’s advisable to focus on individual stocks as
extremely bleak until Thursday; but a stupendous rally on
long as the Nifty remains in this consolidation phase.
Friday gave a sigh of relief to the bulls. The recent swing low
of 8315 on the Nifty played the role of a sheet anchor for the
fourth time in the recent past and thus, it has now become a
strong as well as crucial support for the Nifty.
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Daily Technical Report
August 17, 2015
Bank Nifty Outlook - (18724)
Exhibit 2: Bank Nifty Daily Chart
The Bank Nifty witnessed a gap up opening of around 100
points on Friday. Surprisingly for most of the traders, the
mighty Bulls extended this lead to a great extent after few
extremely pessimistic sessions. The banking counters, mainly
PSU Banks rallied too sharply as if there is no tomorrow.
Eventually, the Bank Nifty ended the session at its highest
point of the day, with gains of 3.02 percent. Going forward,
the Banking index has an immediate support at 18500 and
18280 levels. On the other side, 18850 - 18925 levels will
now act as an immediate resistance zone for the index.
Actionable points:
View
Neutral
Resistance Levels
18850 - 18925
Support Levels
18500 - 18280
Source: Falcon
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Daily Technical Report
August 17, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,480
27,773
27,937
28,231
28,394
NIFTY
8,328
8,423
8,477
8,572
8,626
BANKNIFTY
17,988
18,356
18,561
18,929
19,134
ACC
1,353
1,363
1,374
1,384
1,395
AMBUJACEM
219
223
225
229
231
ASIANPAINT
871
883
892
904
912
AXISBANK
547
558
566
578
586
BAJAJ-AUTO
2,439
2,499
2,536
2,596
2,633
BANKBARODA
172
178
182
188
193
BHARTIARTL
378
387
392
400
405
BHEL
254
258
261
265
268
BOSCHLTD
24,478
24,933
25,217
25,672
25,956
BPCL
846
860
884
898
921
CAIRN
144
150
154
160
163
CIPLA
726
733
737
744
749
COALINDIA
369
373
378
382
386
DRREDDY
4,165
4,211
4,275
4,321
4,385
GAIL
323
330
334
341
345
GRASIM
3,580
3,642
3,682
3,744
3,784
HCLTECH
951
962
973
984
995
HDFC
1,071
1,087
1,095
1,110
1,119
HDFCBANK
2,611
2,662
2,692
2,743
2,773
HEROMOTOCO
87
90
93
96
99
HINDALCO
848
859
869
881
891
HINDUNILVR
1,240
1,270
1,289
1,318
1,337
ICICIBANK
288
295
299
307
311
IDEA
153
157
160
164
167
INDUSINDBK
915
937
950
972
986
INFY
1,128
1,139
1,154
1,164
1,179
ITC
312
315
318
321
323
KOTAKBANK
682
700
710
727
737
LT
1,730
1,765
1,785
1,819
1,839
LUPIN
1,758
1,776
1,787
1,805
1,816
M&M
1,332
1,355
1,368
1,392
1,405
MARUTI
4,452
4,512
4,551
4,611
4,649
NMDC
92
95
97
99
101
NTPC
127
128
129
131
131
ONGC
265
268
271
273
276
PNB
147
157
162
171
177
POWERGRID
137
138
138
139
140
RELIANCE
920
944
958
981
995
SBIN
256
262
266
272
276
VEDL
98
103
106
110
113
SUNPHARMA
873
885
900
912
927
TATAMOTORS
339
347
353
362
368
TATAPOWER
69
69
70
70
71
TATASTEEL
225
231
235
242
245
TCS
2,604
2,654
2,687
2,736
2,769
TECHM
528
541
552
566
576
ULTRACEMCO
3,036
3,070
3,102
3,136
3,168
WIPRO
562
569
573
580
584
YESBANK
753
775
787
809
821
ZEEL
389
405
413
428
437
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Daily Technical Report
August 17, 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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