Daily Technical Report
January 20, 2015
Sensex (28262) / Nifty (8551)
Exhibit 1: Nifty Daily Chart
Trading for the week began with a small upside gap despite
unfavorable cues from the Asian bourses. The index then
consolidated within a narrow range throughout the
remaining session and eventually ended the session with
nearly half a percent gains. Barring IT and FMCG, all other
sectors closed in the positive territory amongst which the
Consumer Durables, Banking, Healthcare and Capital
Goods were the major gainers. The advance to decline ratio
was marginally in favor of the advancing counters.
(A=1659 D=1315) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27168 / 8159 and 23793 / 7125 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 27510 / 8313 and 27241 / 8177 levels, respectively.
Actionable points:
Trading strategy:
Yesterday, the leading Asian markets like, Shanghai
View
Neutral
Composite and Hang Seng closed on a very weak note.
Resistance Levels
8580 - 8626
Despite this development, positive cues from US bourses
Support Levels
8500 - 8450
underpinned gains in the rest of Asia, including us. The
Nifty opened slightly higher and then moved sideways to
protect its early morning lead. The index has now closed
precisely at the mentioned resistance level of 8550. Going
forward, we will continue with our stock centric approach
and will wait for further development on the chart to form a
direction view. On the higher side, 8580 - 8626 are seen
as immediate resistance levels; whereas 8500 - 8450 are
likely to act strong support levels for the index.
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Daily Technical Report
January 20, 2015
Bank Nifty Outlook - (19406)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened higher and then
slipped into a consolidation mode. This range bound
activity continued throughout the remaining session and
hence, the banking index managed to maintain its
position tad above the 19400 mark. As shown in the
exhibit, the Bank Nifty has a strong resistance around the
higher end of the ‘Rising Wedge’ pattern. This resistance
zone has now been shifted to 19500 - 19600. On the
downside, 19300 - 19200 levels are likely to act as a
strong support zone for the index.
Actionable points:
View
Neutral
Resistance Levels
19500 - 19600
Support Levels
19300 - 19200
Source: Falcon
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Daily Technical Report
January 20, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,128
28,195
28,264
28,332
28,401
NIFTY
8,512
8,531
8,551
8,571
8,591
BANKNIFTY
19,245
19,325
19,380
19,460
19,515
ACC
1,500
1,517
1,527
1,543
1,553
AMBUJACEM
235
241
244
250
253
ASIANPAINT
818
825
836
843
855
AXISBANK
511
520
526
535
541
BAJAJ-AUTO
2,387
2,396
2,408
2,416
2,428
BANKBARODA
1,073
1,079
1,088
1,094
1,102
BHARTIARTL
338
344
348
355
359
BHEL
269
275
279
285
288
BPCL
631
638
650
657
668
CAIRN
231
233
234
236
237
CIPLA
644
651
656
663
669
COALINDIA
369
374
379
384
389
DLF
140
143
146
148
151
DRREDDY
3,248
3,286
3,308
3,346
3,368
GAIL
411
426
436
451
461
GRASIM
3,598
3,625
3,670
3,697
3,742
HCLTECH
1,581
1,613
1,671
1,703
1,762
HDFC
1,162
1,172
1,188
1,198
1,215
HDFCBANK
992
998
1,009
1,015
1,026
HEROMOTOCO
2,782
2,812
2,866
2,896
2,950
HINDALCO
138
139
140
141
143
HINDUNILVR
847
870
909
931
970
ICICIBANK
350
356
359
364
367
IDFC
165
168
170
172
174
INDUSINDBK
821
825
831
836
842
INFY
2,072
2,087
2,110
2,125
2,148
ITC
353
356
359
362
365
JINDALSTEL
148
150
152
154
156
KOTAKBANK
1,373
1,381
1,390
1,398
1,407
LT
1,592
1,604
1,613
1,625
1,634
LUPIN
1,416
1,440
1,454
1,477
1,491
M&M
1,282
1,307
1,321
1,346
1,360
MARUTI
3,601
3,613
3,628
3,641
3,655
NMDC
134
136
137
138
139
NTPC
138
140
142
143
145
ONGC
342
345
349
352
356
PNB
204
206
207
209
210
POWERGRID
143
145
147
150
152
RELIANCE
848
864
875
891
902
SBIN
309
311
315
317
320
SSLT
190
191
194
195
198
SUNPHARMA
848
855
861
868
874
TATAMOTORS
517
528
534
544
550
TATAPOWER
82
82
83
84
84
TATASTEEL
378
381
384
388
390
TCS
2,474
2,492
2,522
2,540
2,570
TECHM
2,764
2,782
2,801
2,819
2,838
ULTRACEMCO
3,025
3,057
3,098
3,130
3,172
WIPRO
572
578
588
594
605
ZEEL
377
381
385
389
394
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Daily Technical Report
January 20, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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