Daily Technical Report
October 22, 2014
Sensex (26576) / Nifty (7928)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened quietly amid mixed
global cues. Despite witnessing few ups and downs during
the session, the Nifty managed to close with over half a
percent gains. On the sectoral front, excluding Oil & Gas
and Healthcare, all other sectors managed to close in the
green. The Power and Realty counters ended on a positive
note along with Banking and Metal counters. The advance
to decline ratio was in favor of the advancing counters.
(A=1494 D=1332) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25827 / 7718 and 22431 / 6710 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26742 / 7911 and 25757 / 7697 levels, respectively.
Trading strategy:
Source: Falcon
Our markets witnessed a relatively volatile session
yesterday. However, the Nifty managed to maintain its
Actionable points:
optimism for the major part of the day. As expected, the
Nifty has now closed well above the 7910 mark, which
View
Neutral
confirms the breakout from the 'Falling Wedge' pattern.
Support Level
7850
Hence, as mentioned in our previous report, we expect the
Resistance Levels
7980 - 8050
Nifty to move towards 7980 - 8050 levels. On the flipside,
7850 would now act as a strong support for the Nifty.
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Daily Technical Report
October 22, 2014
Bank Nifty Outlook - (16427)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Banking index opened on a positive note
considering a strong optimism in some of the heavyweight
constituents. As a result, the Bank Nifty managed to
surpass its 'Horizontal Line' resistance of 16310 on a
closing basis. Hence, we expect this upward momentum
to continue to test 16550 - 16650 levels. On the flipside,
16310 - 16150 levels would now be seen as a strong
support zone for the index.
Actionable points:
View
Neutral
Resistance Levels
16550 - 16650
Support Levels
16300 - 16150
Source: Falcon
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Daily Technical Report
October 22, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,324
26,450
26,533
26,658
26,741
NIFTY
7,851
7,889
7,913
7,951
7,975
BANKNIFTY
16,199
16,313
16,383
16,497
16,567
ACC
1,416
1,431
1,443
1,457
1,470
AMBUJACEM
211
212
214
215
216
ASIANPAINT
631
637
645
652
660
AXISBANK
415
419
422
426
429
BAJAJ-AUTO
2,374
2,393
2,414
2,433
2,454
BANKBARODA
869
876
882
890
896
BHARTIARTL
398
405
410
416
421
BHEL
224
231
235
243
247
BPCL
676
682
691
697
706
CAIRN
270
274
277
281
284
CIPLA
595
602
606
613
618
COALINDIA
346
351
356
361
366
DLF
111
116
120
125
128
DRREDDY
2,910
2,937
2,956
2,983
3,001
GAIL
449
465
475
491
501
GRASIM
3,296
3,318
3,340
3,362
3,385
HCLTECH
1,472
1,489
1,501
1,518
1,530
HDFC
998
1,010
1,018
1,030
1,038
HDFCBANK
878
887
896
905
914
HEROMOTOCO
2,890
2,943
2,973
3,026
3,056
HINDALCO
145
146
149
150
152
HINDUNILVR
722
736
745
759
768
ICICIBANK
1,523
1,553
1,570
1,599
1,616
IDFC
138
141
143
147
149
INDUSINDBK
657
668
674
684
690
INFY
3,638
3,705
3,778
3,845
3,918
ITC
346
349
351
354
356
JINDALSTEL
134
140
144
149
153
KOTAKBANK
993
1,004
1,010
1,020
1,027
LT
1,483
1,498
1,507
1,521
1,530
LUPIN
1,323
1,346
1,372
1,395
1,421
M&M
1,199
1,214
1,237
1,252
1,275
MARUTI
2,982
3,029
3,057
3,104
3,132
NMDC
158
160
162
165
166
NTPC
144
146
147
149
150
ONGC
396
402
411
417
427
PNB
884
908
942
966
1,000
POWERGRID
133
136
139
142
144
RELIANCE
921
925
931
935
941
SBIN
2,550
2,567
2,587
2,604
2,624
SSLT
236
242
248
254
260
SUNPHARMA
784
790
799
806
814
TATAMOTORS
489
495
500
506
510
TATAPOWER
87
87
88
88
89
TATASTEEL
447
451
457
461
467
TCS
2,402
2,418
2,431
2,446
2,459
TECHM
2,253
2,292
2,320
2,359
2,387
ULTRACEMCO
2,341
2,370
2,420
2,449
2,499
WIPRO
552
562
569
580
586
ZEEL
325
331
334
339
342
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Daily Technical Report
October 22, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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