Daily Technical Report
June 18, 2014
Sensex (25521) / Nifty (7632)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened slightly lower and then
traded within a narrow range for the most part of session.
However, we witnessed a sudden spurt from lower levels,
which pushed the index much higher to close with nearly
one and half a percent gains. Barring FMCG, all other
sectors ended in the positive territory. The Banking, Oil &
Gas and Capital Goods were among the major gainers.
The advance to decline ratio was strongly in favor of the
advancing counters. (A=2047 D=952) (Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
22994 / 6861 and 20576 / 6158 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
Source: Falcon
24785 / 7404 and 22961 / 6853 levels, respectively.
Actionable points:
Trading strategy:
Yesterday’s opening and initial movement was very much
View
Neutral
in-line with our expectation. The Nifty consolidated within a
Support Levels
7600 - 7570
narrow range until the last hour of the day. But, what we
Resistance Level
7700
witnessed during the initial part of the concluding hour was
way beyond our expectation. Honestly speaking, we did not
expect the index to cross 7600 so soon; but a strong buying
interest in most of the index heavyweights pushed the index
well above
7600 mark in merely
15 minutes. This
movement has happened on sizable volumes and hence,
we have to respect it. Considering the current momentum,
we expect the index to re-test 7700 once it manages to
sustain above 7640 level. On the flipside, 7600 - 7570
would act as a strong support in coming trading session.
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Daily Technical Report
June 18, 2014
Bank Nifty Outlook - (15373)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty’s movement was almost a
replica of our benchmark index. In fact, the banking
conglomerates were among the major contributors in
yesterday’s sharp up move. Looking at the daily chart, it
can be now concluded that the index has stuck in a tight
range and is now bouncing back from the lower end of
14800. Going forward, if the momentum persists in the
market then we may witness a rally towards the higher
end of 15660. On the flipside, 15250 - 15100 are now
seen as strong support levels for the index.
Actionable points:
View
Neutral
Support Levels
15250 - 15100
Resistance Levels
15450 - 15660
Source: Falcon
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Daily Technical Report
June 18, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
24,949
25,235
25,391
25,677
25,832
NIFTY
7,465
7,548
7,593
7,676
7,721
BANKNIFTY
14,773
15,073
15,233
15,534
15,694
ACC
1,450
1,475
1,493
1,518
1,536
AMBUJACEM
217
221
224
228
231
ASIANPAINT
530
545
555
570
580
AXISBANK
1,729
1,784
1,816
1,872
1,904
BAJAJ-AUTO
2,116
2,138
2,156
2,179
2,197
BANKBARODA
831
854
866
889
902
BHARTIARTL
330
334
337
341
344
BHEL
234
241
245
252
256
BPCL
562
586
602
626
641
CAIRN
361
367
373
378
384
CIPLA
407
410
414
416
420
COALINDIA
382
391
397
406
411
DLF
199
206
210
217
221
DRREDDY
2,365
2,388
2,409
2,433
2,453
GAIL
427
436
441
450
456
GRASIM
3,485
3,531
3,572
3,618
3,658
HCLTECH
1,416
1,435
1,455
1,474
1,493
HDFC
929
947
960
978
990
HDFCBANK
819
833
841
854
862
HEROMOTOCO
2,555
2,573
2,594
2,612
2,633
HINDALCO
154
159
161
165
168
HINDUNILVR
622
626
630
634
638
ICICIBANK
1,391
1,420
1,436
1,465
1,481
IDFC
127
129
131
133
134
INDUSINDBK
521
537
547
562
572
INFY
3,196
3,221
3,244
3,270
3,293
ITC
332
334
336
338
340
JINDALSTEL
311
318
324
331
337
KOTAKBANK
901
919
930
949
960
LT
1,613
1,649
1,672
1,708
1,730
LUPIN
966
971
977
983
989
M&M
1,155
1,168
1,181
1,194
1,208
MARUTI
2,364
2,389
2,406
2,431
2,447
MCDOWELL-N
2,691
2,719
2,753
2,782
2,816
NMDC
172
176
179
182
185
NTPC
149
152
154
157
159
ONGC
417
431
439
453
462
PNB
916
948
966
998
1,016
POWERGRID
129
131
133
135
137
RELIANCE
1,045
1,068
1,080
1,103
1,116
RELINFRA
730
749
761
780
791
SBIN
2,508
2,580
2,626
2,699
2,745
SSLT
283
290
296
303
309
SUNPHARMA
629
639
647
657
665
TATAMOTORS
421
431
437
447
453
TATAPOWER
101
104
106
108
110
TATASTEEL
505
519
527
540
548
TCS
2,257
2,268
2,283
2,294
2,309
TECHM
1,997
2,012
2,028
2,043
2,058
ULTRACEMCO
2,674
2,736
2,775
2,836
2,875
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Daily Technical Report
June 18, 2014
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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