Daily Technical Report
June 19, 2014
Sensex (25246) / Nifty (7558)
Exhibit 1: Nifty Daily Chart
Yesterday, our market opened on a muted note after
witnessing a sharp rally on Tuesday. Subsequently, index
moved slightly higher and remained range bound
throughout the first half. However, post the mid session, we
witnessed a massive sell off in our market, which dragged
the index to close with a percent loss. Barring Healthcare,
all other sectors ended in the negative territory. The Realty,
Oil & Gas and Consumer Durables were among the major
losers. The advance to decline ratio was marginally in favor
of the declining counters. (A=1400 D=1631) (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
24785 / 7404 and 22961 / 6853 levels, respectively.
Source: Falcon
Trading strategy:
Actionable points:
Yesterday’s session was completely a nightmare as our
View
Neutral
market completely whipsawed most of the traders after
Support Levels
7515 - 7486
seeing a sharp reversal on Tuesday from the 7500 mark.
Resistance Levels
7612 - 7663
Index traded quietly and maintained its optimism during the
first half.
But, post the mid session, we witnessed a
meltdown after seeing the news of Iraq crisis. In the process,
Nifty managed to trim major portion of yesterday’s gain
and closed well below the
7600 mark. We are now
observing that the Nifty’s low in last three consecutive
sessions is placed at the ‘Upward Sloping Trend Line’
(please refer the exhibit). Hence, going forward, 7515 -
7486 can be seen as a crucial support zone for the index.
Any sustainable move below this support zone would
certainly augment the pessimism in our market. In this
scenario, the possibility of an immediate correction towards
7430 - 7400 cannot be ruled out. On the flipside, 7612 -
7663 would be seen as immediate resistance levels for the
Nifty.
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Daily Technical Report
June 19, 2014
Bank Nifty Outlook - (15220)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened on a subdued note
and remained range bound throughout the first half.
However, the banking conglomerates followed other
index heavyweights post the mid session and witnessed a
decent correction untill the closing point of the day. On
the hourly chart, we are now observing a trading range of
15462 to 15128. Only a sustainable breakout on either
sides would dictate the near term direcion for the index.
At present, we are trading near the lower end of the
range and hence, any move below yesterday’s low of
15128 would result in further correction towards 14950 -
14850 levels.
Actionable points:
View
Neutral
Support Levels
15128 - 15950
Resistance Levels
15462
Source: Falcon
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Daily Technical Report
June 19, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
24,828
25,037
25,323
25,532
25,818
NIFTY
7,431
7,495
7,579
7,642
7,726
BANKNIFTY
14,937
15,079
15,270
15,412
15,603
ACC
1,433
1,454
1,487
1,508
1,541
AMBUJACEM
215
218
224
227
232
ASIANPAINT
543
550
560
567
576
AXISBANK
1,796
1,822
1,849
1,875
1,902
BAJAJ-AUTO
2,110
2,130
2,155
2,176
2,200
BANKBARODA
831
845
866
880
901
BHARTIARTL
332
336
341
345
349
BHEL
231
236
243
248
256
BPCL
559
575
597
614
636
CAIRN
362
367
373
378
384
CIPLA
404
414
429
440
454
COALINDIA
382
388
396
402
409
DLF
198
203
210
214
221
DRREDDY
2,381
2,402
2,425
2,445
2,468
GAIL
430
441
450
462
471
GRASIM
3,440
3,495
3,555
3,610
3,670
HCLTECH
1,409
1,423
1,440
1,454
1,471
HDFC
941
950
961
970
981
HDFCBANK
816
825
838
848
861
HEROMOTOCO
2,492
2,518
2,561
2,587
2,630
HINDALCO
158
162
166
170
174
HINDUNILVR
608
613
623
629
638
ICICIBANK
1,385
1,403
1,431
1,449
1,476
IDFC
124
126
130
132
136
INDUSINDBK
527
534
546
553
565
INFY
3,181
3,211
3,243
3,273
3,305
ITC
329
331
334
336
339
JINDALSTEL
300
309
319
327
338
KOTAKBANK
932
946
959
973
986
LT
1,620
1,646
1,677
1,703
1,734
LUPIN
961
980
993
1,012
1,025
M&M
1,127
1,144
1,168
1,184
1,209
MARUTI
2,379
2,407
2,428
2,456
2,477
MCDOWELL-N
2,568
2,685
2,758
2,875
2,947
NMDC
169
172
177
180
185
NTPC
146
149
153
155
159
ONGC
421
432
443
453
464
PNB
942
961
979
998
1,016
POWERGRID
129
131
134
136
139
RELIANCE
1,035
1,051
1,076
1,092
1,117
RELINFRA
719
734
755
770
791
SBIN
2,567
2,604
2,644
2,682
2,722
SSLT
283
290
297
305
312
SUNPHARMA
619
626
638
646
658
TATAMOTORS
422
427
436
442
451
TATAPOWER
101
103
106
108
111
TATASTEEL
505
513
527
535
548
TCS
2,175
2,201
2,247
2,273
2,319
TECHM
1,984
1,998
2,018
2,031
2,051
ULTRACEMCO
2,730
2,767
2,820
2,857
2,910
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Daily Technical Report
June 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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