Daily Technical Report
March 19, 2014
Sensex (21833) / Nifty (6517)
Exhibit 1: Nifty Daily Chart
The opening session of the week started half a percent higher
as indicated by the SGX Nifty. This optimism continued
throughout the first half and in the process, Nifty advanced by
nearly a percent. However, post the midsession, index pared
down major portion of their gains and eventually managed to
close with nominal gain. On the sectoral front, the FMCG and
Power sectors managed to outperform the index; whereas IT,
Realty and Capital Goods counters were under pressure. The
advance to decline ratio was in favor of advancing counters.
(A=1515 D=1298)(Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20833 / 6196 and 19656 / 5885 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
21365 / 6361 and 20934 / 6229 levels, respectively.
The weekly chart now clearly exhibits a breakout from the
‘Bullish Flag’ pattern.
Source: Falcon
Trading strategy:
Actionable points:
Yet another session ended with a tug-of-war between the bulls
View
Neutral
and bears. Despite early morning optimism, the index closed
Support Levels
6440 - 6400
with very negligible gains. However, the undertone still remains
Resistance Levels
6563 - 6600
bullish and any correction (if any) towards 6440 - 6400 should
be used to create fresh long positions. On the upside 6600 -
6630 levels are seen as strong resistance zone, which we feel
would be taken out very soon.
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Daily Technical Report
March 19, 2014
Bank Nifty Outlook - (12115)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened higher in-line with
our benchmark index. It was the fourth attempt of Bank
Nifty to surpass 12250 on a closing basis; but eventually
failed to do it. Hence, we reiterate our view that a closing
beyond 12250 is very much important to trigger strong
optimism. In this scenario, 12450 - 12550 levels can be
tested. On the flipside, the immediate support levels are
seen around 11867 - 11750.
Actionable points:
View
Neutral
Support Levels
11867 - 11750
Resistance levels
12250 - 12450
Source: Falcon
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Daily Technical Report
March 19, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
21,631
21,732
21,886
21,987
22,142
NIFTY
6,448
6,483
6,529
6,563
6,609
BANKNIFTY
11,929
12,022
12,145
12,238
12,362
ACC
1,229
1,243
1,260
1,274
1,291
AMBUJACEM
179
182
184
186
188
ASIANPAINT
490
496
500
506
511
1,318
1,334
1,358
1,374
1,398
AXISBANK
BAJAJ-AUTO
1,962
1,978
1,990
2,006
2,018
BANKBARODA
648
654
663
669
678
BHARTIARTL
291
293
296
298
301
BHEL
182
186
190
193
197
BPCL
438
444
451
456
463
CAIRN
324
328
331
335
339
CIPLA
377
382
386
391
395
COALINDIA
263
267
269
273
275
DLF
165
170
174
178
183
DRREDDY
2,755
2,771
2,794
2,810
2,833
GAIL
359
364
373
378
386
GRASIM
2,656
2,686
2,732
2,762
2,807
HCLTECH
1,397
1,405
1,416
1,424
1,435
HDFC
832
842
851
861
870
HDFCBANK
719
727
736
743
752
HEROMOTOCO
2,057
2,095
2,121
2,159
2,186
HINDALCO
113
114
115
116
117
HINDUNILVR
546
551
556
561
565
ICICIBANK
1,179
1,192
1,211
1,224
1,244
IDFC
110
112
114
116
118
INDUSINDBK
464
474
479
488
494
INFY
3,296
3,323
3,367
3,395
3,439
ITC
344
350
354
359
363
JINDALSTEL
249
255
260
266
272
JPASSOCIAT
45
47
48
49
51
748
757
766
774
784
KOTAKBANK
LT
1,212
1,226
1,247
1,262
1,283
LUPIN
912
921
936
945
960
M&M
973
991
1,023
1,041
1,073
MARUTI
1,820
1,844
1,876
1,901
1,933
NMDC
127
128
130
131
133
NTPC
115
116
118
119
120
ONGC
316
320
326
331
337
PNB
620
628
636
644
652
POWERGRID
97
99
101
103
104
RANBAXY
335
340
344
349
353
RELIANCE
879
888
898
907
918
RELINFRA
394
401
410
416
425
SBIN
1,634
1,668
1,688
1,722
1,742
SESAGOA
168
170
173
175
177
SUNPHARMA
564
572
579
586
593
TATAMOTORS
370
375
386
392
403
TATAPOWER
81
83
84
85
87
TATASTEEL
334
337
343
346
352
TCS
2,078
2,100
2,126
2,148
2,174
ULTRACEMCO
1,948
1,958
1,971
1,981
1,994
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Daily Technical Report
March 19, 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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