Daily Technical Report
September 19, 2014
Sensex (27112) / Nifty (8115)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened slightly lower as
indicated by the SGX Nifty. After a small consolidation, we
witnessed a sudden spurt in the market, which continued
throughout the remaining session. In the process, the Nifty
managed to close with mammoth gains of one and half a
percent. On the sectoral front, all the sectors closed on a
positive note. The Capital Goods, Realty and Auto counters
were the major gainer in yesterdays rally. The advance to
decline ratio was strongly in favor of the advancing
counters. (A=2207 D=859) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25395 / 7587 and 21944 / 6564 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26753 / 8001 and 25280 / 7553 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
What we witnessed in the initial hour yesterday was quite
View
Neutral
surprising for many traders including us. It was a complete
Support Levels
8080 - 8040
turnaround for our market as the Nifty surpassed the 8000
Resistance Levels
8130 - 8180
mark with an ease before anyone could realize it. Then the
hourly '89 EMA' resistance level of 8030 was the only hurdle
for the bulls, which immediately got conquered on the back
of a strong momentum seen in most of the index
heavyweights. As a result, the Nifty went on to even cross
the 8100 mark on a closing basis. Going forward, a
sustainable move beyond the immediate resistance level of
8130 would open up the possibilities of a new all time high.
On the flipside, 8080 - 8040 would now act as intraday
support levels for the Nifty.
www.angelbroking.com
1
Daily Technical Report
September 19, 2014
Bank Nifty Outlook - (16157)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too took complete u-turn
from the lower levels and eventually managed to close
with nearly two percent gains. The index extended its up
move immediately after surpassing a strong resistance
level of 16000. Going forward, if the Bank Nifty manages
sustain above 16200 then we may expect the up move to
continue towards 16350 - 16450 levels. On the flipside,
16000 is now seen as an immediate support for the
index.
Actionable points:
View
Neutral
Resistance Levels
16200 - 16350
Support Level
16000
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
September 19, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,287
26,699
26,916
27,329
27,545
NIFTY
7,877
7,996
8,058
8,177
8,240
BANKNIFTY
15,631
15,894
16,034
16,297
16,437
ACC
1,474
1,492
1,503
1,521
1,532
AMBUJACEM
205
209
212
216
218
ASIANPAINT
632
646
655
669
678
AXISBANK
389
397
402
410
414
BAJAJ-AUTO
2,265
2,329
2,367
2,431
2,469
BANKBARODA
907
932
947
972
987
BHARTIARTL
408
412
415
419
423
BHEL
215
222
225
232
236
BPCL
622
642
653
673
684
CAIRN
320
323
325
328
330
CIPLA
600
610
617
626
633
COALINDIA
336
340
344
348
352
DLF
165
170
173
178
182
DRREDDY
3,040
3,117
3,158
3,234
3,276
GAIL
436
444
449
457
463
GRASIM
3,483
3,545
3,587
3,648
3,690
HCLTECH
1,591
1,614
1,633
1,656
1,675
HDFC
995
1,024
1,040
1,069
1,085
HDFCBANK
835
847
854
865
873
HEROMOTOCO
2,747
2,870
2,940
3,063
3,133
HINDALCO
157
160
163
166
168
HINDUNILVR
733
741
748
756
763
ICICIBANK
1,507
1,536
1,552
1,581
1,596
IDFC
142
144
147
149
151
INDUSINDBK
609
619
625
636
642
INFY
3,618
3,658
3,694
3,733
3,769
ITC
351
355
357
361
363
JINDALSTEL
210
216
219
224
227
KOTAKBANK
1,007
1,027
1,039
1,059
1,071
LT
1,486
1,530
1,556
1,600
1,626
LUPIN
1,346
1,362
1,376
1,392
1,406
M&M
1,358
1,375
1,385
1,402
1,412
MARUTI
2,921
2,982
3,021
3,082
3,121
MCDOWELL-N
2,304
2,342
2,378
2,416
2,452
NMDC
172
174
175
177
179
NTPC
131
134
136
139
140
ONGC
400
407
411
419
423
PNB
946
968
982
1,004
1,017
POWERGRID
134
135
137
138
139
RELIANCE
973
989
1,000
1,015
1,026
SBIN
2,513
2,567
2,597
2,651
2,681
SSLT
279
282
285
288
291
SUNPHARMA
793
799
806
812
820
TATAMOTORS
492
508
518
535
544
TATAPOWER
83
85
87
90
91
TATASTEEL
490
498
504
511
517
TCS
2,554
2,598
2,625
2,669
2,696
TECHM
2,380
2,403
2,420
2,444
2,461
ULTRACEMCO
2,539
2,593
2,627
2,681
2,715
WIPRO
557
569
577
590
597
www.angelbroking.com
3
Daily Technical Report
September 19, 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 [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