Daily Technical Report
February 20, 2014
Sensex (20723) / Nifty (6153)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened on a flat note
considering mixed trading mood across the globe.
Subsequently, index remained within a narrow trading range;
but maintained its positive bias throughout the session. A
decent up move towards the fag end led index to close with
almost half a percent gain. On the sectoral front, the
Healthcare, IT and TECK counters closed in the green; whereas
the Metal and Power sectors remained under pressure
throughout the session. The advance to decline ratio was in
favor of the advancing counters. (A=1426 D=1252)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20571 / 6116 and 19466 / 5831 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20553 / 6106 and 20561 / 6113 levels, respectively.
The Weekly ‘RSI-Smoothened’ and the ‘ADX (9)’ indicator
are still negatively poised.
Source: Falcon
Actionable points:
Trading strategy:
A strong positive session was followed by a quiet session; but
View
Neutral
the optimism remained intact. During the previous session,
Support Levels
6116 - 6066
index closed well above the ‘Downward Sloping Trend Line’ as
Resistance Levels
6170 - 6190
well as the daily ’89-EMA’, which was a clear sign of strength.
In-line with our expectation, index remained sideways but
maintained its upward momentum during the entire session.
We reiterate our view that the index is likely to move gradually
towards 6170 - 6190, which is a strong resistance zone.
Hence, we advise traders to adopt a stock specific approach
and keep booking profits on their existing long positions. On
the flipside, 6116 - 6066 levels would now act as immediate
support levels in coming trading session.
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Daily Technical Report
February 20, 2014
Bank Nifty Outlook - (10610)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened on a subdued note
considering quiet benchmark indices. Subsequently, index
remained sideways for most part of the session; but
maintained its positive bias to end the session with
nominal gains. As mentioned in our previous report,
10644 remains to be an important resistance level for the
index. We reiterate that any sustainable move beyond
10644 may push the index towards the strong resistance
zone of 10725 - 10795. On the other hand, 10520 -
10395 levels would now act as immediate support levels
for the index.
Actionable points:
View
Neutral
Support Levels
10520 - 10395
Resistance levels
10644 - 10725
Source: Falcon
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Daily Technical Report
February 20, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,580
20,652
20,701
20,772
20,822
NIFTY
6,112
6,132
6,146
6,167
6,181
BANKNIFTY
10,477
10,543
10,587
10,653
10,697
ACC
1,012
1,019
1,027
1,034
1,042
AMBUJACEM
152
153
154
156
156
ASIANPAINT
464
466
470
472
475
AXISBANK
1,147
1,157
1,167
1,177
1,187
BAJAJ-AUTO
1,788
1,804
1,833
1,849
1,877
BANKBARODA
519
525
535
541
551
BHARTIARTL
299
301
303
305
308
BHEL
148
149
151
152
154
BPCL
343
347
352
356
361
CAIRN
322
324
325
328
329
CIPLA
369
371
373
375
377
COALINDIA
252
253
255
257
259
DLF
140
142
143
144
145
DRREDDY
2,614
2,641
2,661
2,689
2,709
GAIL
353
357
360
363
366
GRASIM
2,439
2,461
2,480
2,502
2,521
HCLTECH
1,465
1,480
1,490
1,504
1,515
HDFC
787
796
802
812
818
HDFCBANK
649
659
666
677
683
HEROMOTOCO
1,905
1,925
1,960
1,980
2,015
HINDALCO
97
98
99
100
101
HINDUNILVR
554
556
560
562
565
ICICIBANK
1,019
1,025
1,034
1,040
1,049
IDFC
96
96
97
98
98
INDUSINDBK
386
389
392
396
398
INFY
3,670
3,712
3,737
3,779
3,804
ITC
314
316
317
318
320
JINDALSTEL
239
242
247
250
255
JPASSOCIAT
38
39
39
40
40
KOTAKBANK
664
675
682
693
700
LT
1,006
1,019
1,026
1,039
1,046
LUPIN
911
927
936
951
960
M&M
931
937
942
948
954
MARUTI
1,675
1,686
1,704
1,715
1,733
NMDC
135
136
137
138
139
NTPC
131
131
133
134
135
ONGC
274
277
278
281
283
PNB
529
535
542
548
554
POWERGRID
94
94
95
96
96
RANBAXY
350
356
361
368
373
RELIANCE
804
808
814
818
824
RELINFRA
355
360
366
371
377
SBIN
1,490
1,499
1,507
1,516
1,524
SESAGOA
182
184
187
189
193
SUNPHARMA
606
614
620
629
635
TATAMOTORS
386
389
391
394
396
TATAPOWER
76
76
78
79
80
TATASTEEL
366
370
375
379
384
TCS
2,139
2,168
2,192
2,221
2,244
ULTRACEMCO
1,687
1,697
1,706
1,716
1,725
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Daily Technical Report
February 20, 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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