Daily Technical Report
August 19, 2015
Sensex (27832) / Nifty (8467)
Exhibit 1: Nifty Daily Chart
Yesterday’s session opened higher as indicated by the
SGX Nifty. However, this early morning lead was very
short lived as the index corrected sharply post the initial
hour. The Nifty then recovered a bit from the low and
consolidated throughout the remaining part of the day.
On the sectoral front, the IT, Auto, Consumer Durables
and Capital Goods traded with a strong positive bias;
whereas, the Metal, Healthcare and Banking counters
remained under pressure. The advance to decline ratio
was strongly in favor of the advancing counters. (A=1631
D=1239) (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
Source: Falcon
placed at 27933
/
8475 and 27840
/
8440 levels,
respectively.
Actionable points:
Trading strategy:
Yesterday’s price action was more or less same what we
View
Neutral
witnessed on Monday. The Nifty opened slightly higher
and then plunged towards yesterday’s low of 8428. This
Resistance Levels
8531 - 8620
level provided a decent support and as a result, the Nifty
Support Levels
8428 - 8340
managed to recover a bit to close marginally in the red.
Yesterday’s movement has now provided us a small
trading range of 8531 - 8428 within the broader near
term range (8650 - 8315). Thus, a breakout on either side
from this range of 8531 - 8428 would provide some
direction to our market. In a bullish scenario, an
extended rally towards 8620 - 8650 cannot be ruled out
and in case of a breakdown from the lower end of 8428
may lead to an immediate correction towards 8340 -
8315 levels. Meanwhile, a prudent strategy would be to
focus on stock specific movements.
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Daily Technical Report
August 19, 2015
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (18781)
Yesterday, the Bank Nifty opened marginally higher in-
line with our benchmark indices. Despite the positive
momentum in PSU banks, the Bank Nifty failed to cross
previous day’s high. Due to enhanced selling pressure,
the Bank Nifty corrected sharply throughout the first
half. However, a decent recovery in the latter half
restricted its losses to 0.22 percent. Since, the Bank Nifty
traded within the boundaries of Monday’s price
action, the chart structure remains unchanged. Going
forward, 18900 - 19000 would act as an immediate
resistance zone for the index; whereas, the support
levels are placed at 18580 - 18440.
Actionable points:
View
Neutral
Resistance Levels
18900 - 19000
Support Levels
18580 - 18440
Source: Falcon
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Daily Technical Report
August 19, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,580
27,706
27,873
27,999
28,167
NIFTY
8,383
8,425
8,475
8,517
8,567
BANKNIFTY
18,472
18,626
18,750
18,905
19,029
ACC
1,359
1,373
1,383
1,398
1,408
AMBUJACEM
223
225
227
229
231
ASIANPAINT
880
891
903
914
926
AXISBANK
550
555
561
567
573
BAJAJ-AUTO
2,490
2,508
2,539
2,557
2,588
BANKBARODA
205
209
213
217
220
BHARTIARTL
377
381
389
393
400
BHEL
256
259
262
264
267
BOSCHLTD
24,775
25,084
25,279
25,589
25,784
BPCL
851
874
888
910
924
CAIRN
144
147
152
155
160
CIPLA
663
673
691
702
720
COALINDIA
345
355
369
379
393
DRREDDY
4,127
4,159
4,192
4,224
4,256
GAIL
317
323
335
342
354
GRASIM
3,639
3,675
3,711
3,747
3,784
HCLTECH
953
961
974
982
994
HDFC
1,249
1,258
1,272
1,280
1,294
HDFCBANK
1,069
1,078
1,087
1,095
1,105
HEROMOTOCO
2,609
2,625
2,651
2,667
2,693
HINDALCO
85
87
90
92
95
HINDUNILVR
863
868
873
878
883
ICICIBANK
295
298
301
304
308
IDEA
156
158
161
163
166
INDUSINDBK
942
955
963
976
985
INFY
1,136
1,150
1,164
1,178
1,192
ITC
309
312
315
318
321
KOTAKBANK
686
696
709
718
731
LT
1,768
1,784
1,799
1,816
1,831
LUPIN
1,705
1,728
1,770
1,793
1,834
M&M
1,342
1,353
1,363
1,374
1,383
MARUTI
4,494
4,564
4,606
4,676
4,718
NMDC
92
94
97
98
101
NTPC
126
126
128
129
130
ONGC
256
258
262
265
269
PNB
164
167
172
175
179
POWERGRID
136
136
138
139
140
RELIANCE
934
939
947
953
961
SBIN
270
278
283
290
295
VEDL
99
101
104
106
110
SUNPHARMA
868
879
897
908
926
TATAMOTORS
341
345
352
355
362
TATAPOWER
67
67
68
69
70
TATASTEEL
243
248
251
256
260
TCS
2,667
2,704
2,727
2,764
2,787
TECHM
547
555
559
567
571
ULTRACEMCO
3,034
3,081
3,113
3,160
3,192
WIPRO
557
564
576
583
595
YESBANK
771
779
789
797
808
ZEEL
399
403
408
411
416
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Daily Technical Report
August 19, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website:
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Technical Analyst
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