Daily Technical Report
September 22, 2015
Sensex (26193) / Nifty (7977)
Exhibit 1: Nifty Daily Chart
Trading for the week began on a weak note owing to negative
cues from the global bourses. However, the Nifty managed to
give a strady recovery throughout the remaining part of the
day. As a result, the Nifty eventually ended the session on a
flat note. On the sectoral front, the Banking, Capital Goods
and Power sectors closed with marginal gains; whereas, the
FMCG, Oil & Gas and Consumer Durables counters ended with
nominal losses. The advance to decline ratio was strongly in
favor of the advancing counters. (A=1582 D=1069) (Source:
www.bseindia.com).
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27117 / 8211 and 25904 / 7811 levels, respectively.
Source: Falcon
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 26051 / 7920 and 27161 / 8239 levels, respectively.
Actionable points:
Trading strategy:
After a smart recovery of two weeks from the lower levels, our
View
Neutral
benchmark index opened with a downside gap citing to
Resistance Levels
8090
negative cues from the global bourses. However, the bulls
Support Level
7900 - 7853
showed tremendous resilience near day's low as the Nifty
managed to give a slow and steady recovery throughout the
remaining part of the session. In the end, the Nifty ended the
session with negligible losses. For next couple of days, we may
witness a range bound action in the market in a range of 8090
to 7900 during which lot of stock specific actions are likely to
continue. We would avoid trading on the long side in case if
Nifty extends this bounce. In fact, we would rather wait for
further developments on charts to short the index with a
positional perspective. Thus, we maintain our cautious stance
on the market and advice traders to lighten up their long
positions.
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Daily Technical Report
September 22, 2015
Bank Nifty Outlook - (17543)
Exhibit 2: Bank Nifty Daily Chart
The Bank Nifty opened with a downside gap on the first
session of the week in-line with the broader market. But,
unlike the Nifty, the banking index managed to hold Friday’s
low and started rebounding from initial trades. The Bulls
were active throughout the session and as a result, the Bank
Nifty outperformed the benchmark index to end the session
almost at the highest point of the day. Yesterday, the Bank
Nifty managed to close above the 50% retracement level of
the entire fall from 19103.70 to 15762.20. Now, the 61.80%
of the mentioned fall which is seen at 17827 will act as an an
immediate resistance, which coincides with the ’89 EMA’ on
the daily chart. On the flipside, Friday’s low i.e. 17156 as well
as 17300 would be seen as immediate support levels for the
index.
Actionable points:
Source: Falcon
View
Neutral
Resistance Levels
17827
Support Levels
17300 - 17156
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Daily Technical Report
September 22, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,872
26,033
26,133
26,293
26,394
NIFTY
7,878
7,928
7,958
8,007
8,037
BANKNIFTY
17,039
17,291
17,431
17,683
17,823
ACC
1,345
1,364
1,377
1,396
1,409
AMBUJACEM
201
205
208
213
215
ASIANPAINT
816
823
831
837
845
AXISBANK
501
515
522
536
544
BAJAJ-AUTO
2,241
2,272
2,291
2,322
2,341
BANKBARODA
184
188
190
195
197
BHARTIARTL
347
349
354
357
362
BHEL
204
206
207
209
210
BOSCHLTD
21,185
21,390
21,605
21,810
22,025
BPCL
855
863
872
880
889
CAIRN
141
142
143
144
145
CIPLA
635
642
647
654
659
COALINDIA
336
339
341
344
346
DRREDDY
3,908
3,932
3,966
3,991
4,024
GAIL
280
285
289
295
299
GRASIM
3,404
3,431
3,458
3,485
3,512
HCLTECH
924
934
952
962
979
HDFC
1,177
1,192
1,201
1,216
1,225
HDFCBANK
1,029
1,041
1,048
1,060
1,067
HEROMOTOCO
2,360
2,392
2,420
2,452
2,479
HINDALCO
72
75
77
80
82
HINDUNILVR
782
786
793
798
805
ICICIBANK
268
273
277
283
286
IDEA
144
145
146
147
149
INDUSINDBK
895
904
914
924
934
INFY
1,086
1,095
1,102
1,112
1,118
ITC
311
313
315
317
319
KOTAKBANK
648
657
663
672
678
LT
1,515
1,533
1,545
1,563
1,575
LUPIN
1,852
1,866
1,885
1,899
1,917
M&M
1,166
1,176
1,187
1,196
1,208
MARUTI
4,340
4,415
4,462
4,537
4,584
NMDC
99
101
103
106
107
NTPC
124
125
126
128
129
ONGC
233
236
238
241
243
PNB
134
137
139
142
144
POWERGRID
130
133
135
138
140
RELIANCE
869
873
881
886
893
SBIN
234
240
243
248
252
VEDL
96
97
98
100
101
SUNPHARMA
885
892
903
910
921
TATAMOTORS
322
327
331
336
340
TATAPOWER
63
64
65
66
67
TATASTEEL
220
223
226
229
232
TCS
2,523
2,537
2,547
2,561
2,571
TECHM
535
551
565
581
595
ULTRACEMCO
2,848
2,877
2,902
2,931
2,956
WIPRO
579
585
591
598
604
YESBANK
748
758
765
775
782
ZEEL
393
397
400
405
408
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Daily Technical Report
September 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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