Daily Technical Report
August 21, 2014
Sensex (26314) / Nifty (7875)
Exhibit 1: Nifty Daily Chart
Yesterday’s session too opened slightly higher in-line with
the positive global cues. However, the overall bias
throughout the remaining session was slightly on the
negative side. As a result, index eventually managed to
close with minor losses. On the sectoral front, the Oil & Gas
and FMCG counters remained under pressure; whereas the
Healthcare and Power sectors outperformed the
Benchmark Indies. The advance to decline ratio was in favor
of the advancing counters. (A=1678 D=1306) (Source-
www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
24605 / 7356 and 21484 / 6428 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
25709 / 7688 and 24506 / 7322 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, our benchmark index opened marginally higher
View
Neutral
and unlike the previous session, immediately pared down
Support Levels
7840 - 7800
all gains. In fact, we witnessed a bit of correction
Resistance Levels
7940 - 7980
throughout the session. We maintain our view that the
index is likely to move gradually towards the 7940 - 7980,
which is the 'Upward Sloping Trend Line' resistance zone
and then consolidate for some time. Meanwhile, the
individual stocks are likely to outperform the market. On
the flipside, previous high of 7840 would now act as an
important support for the index.
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Daily Technical Report
August 21, 2014
Bank Nifty Outlook - (15482)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened higher and the
entire sessions' movement was quite similar to the Nifty.
Since there was no major change in the chart structure;
our view remains unchanged. Going forward, 15650 -
15700 is seen as a multiple resistance zone for the index.
If the index manages to surpass this resistance zone on a
closing basis then we may witness a strong upward
momentum in the market. In this scenario, the index may
immediately move towards the 16000 - 16200 levels. On
the flipside, a sustainable move below 15440 may apply
immediate brakes on the ongoing uptrend. In this
scenario, 15350 - 15250 levels can be retested.
Actionable points:
Source: Falcon
View
Neutral
Support Levels
15440 - 15350
Resistance Levels
15650 - 15700
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Daily Technical Report
August 21, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,139
26,226
26,365
26,453
26,592
NIFTY
7,829
7,852
7,887
7,911
7,946
BANKNIFTY
15,381
15,431
15,499
15,549
15,617
ACC
1,500
1,512
1,531
1,544
1,563
AMBUJACEM
213
214
216
218
220
ASIANPAINT
598
605
612
620
627
AXISBANK
389
391
395
398
402
BAJAJ-AUTO
2,166
2,182
2,199
2,215
2,231
BANKBARODA
865
873
880
888
895
BHARTIARTL
366
370
378
382
390
BHEL
223
227
230
234
237
BPCL
657
662
670
675
683
CAIRN
319
321
324
325
328
CIPLA
462
477
487
502
512
COALINDIA
362
364
367
370
373
DLF
195
198
201
204
206
DRREDDY
2,803
2,845
2,872
2,914
2,941
GAIL
416
422
428
434
441
GRASIM
3,356
3,403
3,429
3,476
3,502
HCLTECH
1,528
1,543
1,554
1,569
1,580
HDFC
1,048
1,060
1,077
1,089
1,106
HDFCBANK
809
815
825
830
840
HEROMOTOCO
2,484
2,511
2,532
2,558
2,579
HINDALCO
177
179
181
182
184
HINDUNILVR
703
707
714
719
726
ICICIBANK
1,523
1,533
1,542
1,552
1,560
IDFC
147
149
151
152
154
INDUSINDBK
555
562
568
574
580
INFY
3,526
3,540
3,561
3,576
3,597
ITC
340
342
347
349
354
JINDALSTEL
291
294
297
300
303
KOTAKBANK
965
983
992
1,010
1,020
LT
1,495
1,506
1,523
1,535
1,551
LUPIN
1,197
1,222
1,237
1,261
1,276
M&M
1,337
1,347
1,365
1,375
1,392
MARUTI
2,709
2,724
2,739
2,754
2,769
MCDOWELL-N
2,408
2,432
2,451
2,475
2,494
NMDC
174
175
177
178
179
NTPC
142
144
145
146
147
ONGC
413
419
427
433
441
PNB
910
920
928
938
947
POWERGRID
136
136
137
138
138
RELIANCE
981
990
1,004
1,013
1,027
SBIN
2,384
2,399
2,424
2,439
2,464
SSLT
291
293
296
298
301
SUNPHARMA
789
818
834
863
879
TATAMOTORS
504
508
515
519
526
TATAPOWER
91
93
94
96
97
TATASTEEL
536
541
546
551
557
TCS
2,415
2,426
2,440
2,451
2,465
TECHM
2,181
2,201
2,213
2,233
2,245
ULTRACEMCO
2,644
2,664
2,694
2,715
2,745
WIPRO
544
548
552
556
559
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Daily Technical Report
August 21, 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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