Daily Technical Report
January 22, 2015
Sensex (28889) / Nifty (8730)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened slightly higher
owing positive cues from other Asian bourses. Subsequently,
the Nifty remained within a narrow trading range
throughout the session and eventually managed to close
with nearly half a percent gains. On the sectoral front, the
Consumer Durables, IT and Capital Goods traded with a
positive bias; whereas the FMCG, Metal and Oil & Gas
counters remained under pressure throughout the session.
The advance to decline ratio was in favor of the declining
counters. (A=1225 D=1717) (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
at 27510 / 8313 and 27241 / 8177 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, we witnessed a lackluster and range bound price
View
Neutral
movement for the entire session. The index opened
Resistance Levels
8750 - 8800
marginally higher and then oscillated within the narrow
Support Levels
8689 - 8650
range of merely 52 points. However, the Nifty managed
maintained its position in the positive territory and
eventually gave a close well above the 8700 mark for the
first time ever. As mentioned in our previous report, the
Nifty continued its upward movement and faced a
resistance around the 8750 mark. Looking at the overall
chart structure and the ongoing optimism, the possibility of
testing 8800 becomes quite high. On the flipside, intraday
support levels are seen around 8689 - 8650. Due to its
steep rally in last few sessions, we may witness some
volatility in the market. Thus, traders are advised to trade
with proper exit strategy and avoid taking undue risks.
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Daily Technical Report
January 22, 2015
Bank Nifty Outlook - (19843)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened marginally higher;
but, unlike the Nifty, we witnessed a decent up move in
most of the banking conglomerates in the initial hour. In
the process, the Bank Nifty made a high (19964.95) tad
below the 20000 mark and then corrected gently to end
the session with nearly half a percent gains. Going
forward, we are expecting a range bound activity in the
Bank Nifty. The trading range for the index would be
20000 - 20100 on the higher side and 19800 - 19700
on the lower side is likely to act as an immediate support
zone for the index.
Actionable points:
View
Neutral
Resistance Levels
20000 - 20100
Support Levels
19800 - 19700
Source: Falcon
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Daily Technical Report
January 22, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
28,714
28,802
28,880
28,967
29,045
NIFTY
8,668
8,699
8,720
8,751
8,773
BANKNIFTY
19,709
19,776
19,870
19,938
20,032
ACC
1,524
1,534
1,542
1,552
1,560
AMBUJACEM
241
244
246
249
251
ASIANPAINT
832
842
849
858
866
AXISBANK
539
543
550
554
561
BAJAJ-AUTO
2,377
2,412
2,434
2,469
2,491
BANKBARODA
1,068
1,098
1,118
1,148
1,169
BHARTIARTL
349
359
365
375
380
BHEL
275
279
281
285
287
BPCL
638
646
652
660
665
CAIRN
233
236
238
241
244
CIPLA
627
635
649
658
672
COALINDIA
376
384
389
397
401
DLF
139
141
144
146
149
DRREDDY
3,215
3,276
3,312
3,373
3,409
GAIL
426
430
433
437
441
GRASIM
3,593
3,688
3,749
3,844
3,905
HCLTECH
1,622
1,655
1,673
1,706
1,724
HDFC
1,234
1,261
1,279
1,306
1,324
HDFCBANK
1,009
1,015
1,024
1,029
1,038
HEROMOTOCO
2,808
2,841
2,868
2,901
2,928
HINDALCO
138
140
143
146
149
HINDUNILVR
866
904
926
964
986
ICICIBANK
362
365
368
371
374
IDFC
167
169
171
173
175
INDUSINDBK
827
835
847
855
867
INFY
2,097
2,133
2,155
2,191
2,213
ITC
335
344
358
367
382
JINDALSTEL
148
150
154
156
160
KOTAKBANK
1,363
1,376
1,397
1,410
1,431
LT
1,614
1,634
1,651
1,672
1,689
LUPIN
1,451
1,468
1,478
1,495
1,505
M&M
1,302
1,313
1,327
1,338
1,352
MARUTI
3,541
3,588
3,639
3,686
3,737
NMDC
135
136
139
141
143
NTPC
141
142
143
144
145
ONGC
340
343
347
350
353
PNB
205
211
214
219
222
POWERGRID
145
146
147
148
149
RELIANCE
884
895
903
915
923
SBIN
316
321
324
330
333
SSLT
191
195
201
205
210
SUNPHARMA
867
877
882
892
897
TATAMOTORS
540
546
552
558
564
TATAPOWER
81
82
83
84
85
TATASTEEL
386
392
399
404
411
TCS
2,474
2,494
2,508
2,528
2,542
TECHM
2,772
2,784
2,800
2,812
2,828
ULTRACEMCO
2,996
3,025
3,071
3,100
3,145
WIPRO
568
579
587
597
605
ZEEL
362
372
386
396
410
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Daily Technical Report
January 22, 2015
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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