Daily Technical Report
February 18, 2014
Sensex (20464) / Nifty (6073)
Exhibit 1: Nifty Daily Chart
The week began slightly higher in-line with optimistic trading
mood across the globe. Subsequently, the index traded within
a narrow range most part of the session. However, a small
surge towards the fag end led index to close with modest
gains. The Banking, Power and Auto sectors were among the
major gainers; whereas the Realty, Consumer Durable and Oil
& Gas counters remained under pressure throughout the
session. The advance to decline ratio was in favor of the
declining
counters.
(A=1217
D=1394)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20566 / 6115 and 19461 / 5829 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20525 / 6099 and 20536 / 6106 levels, respectively.
The Weekly ‘RSI-Smoothened’ and the ‘ADX (9)’ indicator
are still negatively poised.
Source: Falcon
Actionable points:
Trading strategy:
Our market started quietly just ahead of the ‘Interim Budget’
View
Neutral
announcement. However, it turned out to be a non-event and
Support Levels
6038 - 5984
post the announcement; we observed a gradual rise
Resistance Levels
6106 - 6120
throughout the remaining session. Considering the hourly chart
structure, it is clearly seen that if the Nifty manages to give
hourly closing above the 'Downward Sloping Trendline'
resistance level of 6082 then we may witness retesting of recent
high of 6106. A move beyond 6106 may lead to an extended
rally towards 6170 - 6190 levels on the Nifty. On the flipside,
6038 - 5980 levels would act as immediate support levels in
coming trading session.
www.angelbroking.com
1
Daily Technical Report
February 18, 2014
Bank Nifty Outlook - (10327)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened slightly higher in-
line with the benchmark index. Subsequently, index
remained sideways during the first half; but post mid
session picked up a strong momentum to end the session
with more than a percent gains. This clearly showed an
outperformance of some of the heavyweight
conglomerates throughout the session. Going forward,
considering yesterday's optimism, if the index manages to
sustain above last week's high of 10395 then we may
witness a rally towards 10500 - 10550 levels. On the
other hand, 10205 would now act as an immediate
support level for the index.
Actionable points:
View
Neutral
Support Levels
10205 - 10064
Source: Falcon
Resistance levels
10390 - 10500
www.angelbroking.com
2
Daily Technical Report
February 18, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,278
20,371
20,432
20,525
20,585
NIFTY
6,022
6,048
6,064
6,090
6,106
BANKNIFTY
10,145
10,236
10,297
10,388
10,449
ACC
994
1,002
1,010
1,019
1,027
AMBUJACEM
149
150
152
153
155
ASIANPAINT
468
471
473
476
479
AXISBANK
1,098
1,107
1,113
1,122
1,128
BAJAJ-AUTO
1,782
1,814
1,842
1,873
1,901
BANKBARODA
520
526
534
540
548
BHARTIARTL
298
301
306
309
314
BHEL
144
146
148
150
152
BPCL
348
353
356
361
364
CAIRN
320
321
322
323
325
CIPLA
368
371
375
378
381
COALINDIA
252
254
258
260
263
DLF
138
140
144
146
150
DRREDDY
2,558
2,601
2,627
2,670
2,696
GAIL
356
360
362
365
368
GRASIM
2,435
2,452
2,467
2,484
2,499
HCLTECH
1,483
1,493
1,507
1,517
1,531
HDFC
757
768
778
790
800
HDFCBANK
637
644
648
655
659
HEROMOTOCO
1,872
1,922
1,969
2,019
2,065
HINDALCO
96
97
99
100
102
HINDUNILVR
553
557
561
565
569
ICICIBANK
979
994
1,004
1,019
1,029
IDFC
93
95
97
99
100
INDUSINDBK
371
377
380
386
389
INFY
3,628
3,643
3,664
3,679
3,700
ITC
315
318
320
322
325
JINDALSTEL
229
233
236
239
242
JPASSOCIAT
37
38
39
40
40
KOTAKBANK
639
645
649
655
659
LT
981
990
997
1,006
1,013
LUPIN
892
903
910
922
929
M&M
882
905
920
943
959
MARUTI
1,619
1,642
1,659
1,682
1,698
NMDC
135
137
139
140
142
NTPC
132
133
133
135
135
ONGC
270
274
277
281
284
PNB
518
525
534
541
549
POWERGRID
95
95
96
96
96
RANBAXY
339
342
346
350
354
RELIANCE
799
806
814
821
829
RELINFRA
345
351
357
363
369
SBIN
1,452
1,463
1,474
1,485
1,496
SESAGOA
185
187
189
191
193
SUNPHARMA
594
599
607
613
620
TATAMOTORS
378
382
389
393
400
TATAPOWER
73
75
77
79
80
TATASTEEL
363
369
372
377
381
TCS
2,127
2,146
2,166
2,185
2,205
ULTRACEMCO
1,646
1,657
1,668
1,679
1,691
www.angelbroking.com
3
Daily Technical Report
February 18, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to sameet.chav[email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4