Daily Technical Report
July 23, 2015
Sensex (28505) / Nifty (8634)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened soft on weak global
cues. However, this weakness was very short lived as we
witnessed a strong buying interest throughout the session to
conclude at the highest point of the day. Tuesday’s only
positive sector remained soft throughout the session; whereas,
all the remaining sectoral indices closed well inside the
positive territory. Yesterday’s rally was mainly propelled by the
Oil & Gas, Auto and Banking conglomerates. The advance to
decline ratio was strongly in favor of the advancing counters.
(A=1770 D=1055)(Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27711 / 8381 and 25670 / 7726 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27825 / 8426 and 27768 / 8394 levels, respectively.
Source: Falcon
Trading strategy:
Actionable points:
Despite a decent correction on Tuesday, the bulls showed a
View
Neutral
tremendous resilience around the 8500 mark. After a soft
Resistance Levels
8680 - 8700
opening, we witnessed a stupendous recovery from the
Support Levels
8550 - 8500
mentioned support zone of 8500 - 8480 and in the process,
the Nifty added more than a percent to bull's kitty. Yesterday,
we witnessed a broad based rally in the market, which is an
indication of the strength. Going forward, we expect the Nifty
to continue its northward movement towards the next
resistance zone of 8680 - 8700. On the flipside, 8550 - 8500
levels are seen as immediate support for the index.
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Daily Technical Report
July 23, 2015
Bank Nifty Outlook - (18997)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty opened with a marginal loss and
then drifted towards 18600 in the initial trades. But, we
witnessed a v-shaped recovery of more than 400 points
from the lower levels. Eventually, the Bank Nifty gained 1.46
percent from the previous close to conclude the session
around the psychological level of 19000. At current juncture,
the Bank Nifty is on the verge of giving a breakout from the
‘Downward Sloping Trend line’ around 19050 on the hourly
chart, which may result into an extension of yesterday's rally
towards 19300 - 19440 levels. On the flipside, 18760 -
18600 levels will now act as a crucial support zone for the
index.
Actionable points:
View
Neutral
Resistance Levels
19050 - 19300
Support Levels
18760 - 18600
Source: Falcon
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Daily Technical Report
July 23, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,899
28,202
28,374
28,677
28,850
NIFTY
8,447
8,540
8,592
8,685
8,737
BANKNIFTY
18,458
18,728
18,883
19,152
19,307
ACC
1,410
1,424
1,436
1,449
1,461
AMBUJACEM
236
241
244
250
253
ASIANPAINT
811
827
836
852
861
AXISBANK
573
581
587
596
602
BAJAJ-AUTO
2,518
2,569
2,598
2,649
2,678
BANKBARODA
146
149
151
155
157
BHARTIARTL
431
435
442
446
453
BHEL
278
282
284
288
290
BOSCHLTD
23,203
23,533
23,730
24,059
24,256
BPCL
937
954
966
984
996
CAIRN
147
157
166
176
185
CIPLA
656
665
673
682
689
COALINDIA
423
428
431
435
438
DRREDDY
3,792
3,820
3,859
3,887
3,926
GAIL
356
363
367
374
378
GRASIM
3,626
3,682
3,716
3,773
3,807
HCLTECH
960
972
979
990
997
HDFC
1,286
1,316
1,333
1,363
1,380
HDFCBANK
1,078
1,096
1,107
1,125
1,135
HEROMOTOCO
2,651
2,681
2,700
2,730
2,750
HINDALCO
104
106
107
109
111
HINDUNILVR
880
900
912
932
943
ICICIBANK
307
312
315
320
323
IDEA
171
175
181
184
190
INDUSINDBK
923
940
950
967
977
INFY
1,062
1,083
1,097
1,118
1,133
ITC
307
311
314
318
322
KOTAKBANK
710
720
727
736
743
LT
1,814
1,834
1,851
1,871
1,888
LUPIN
1,756
1,790
1,851
1,885
1,945
M&M
1,274
1,308
1,329
1,363
1,384
MARUTI
4,110
4,150
4,175
4,215
4,240
NMDC
112
113
114
116
117
NTPC
134
136
137
138
139
ONGC
278
282
285
288
291
PNB
134
136
138
141
143
POWERGRID
137
140
142
144
146
RELIANCE
987
1,019
1,036
1,068
1,086
SBIN
259
264
267
271
274
VEDL
127
132
135
139
142
SUNPHARMA
798
816
827
845
855
TATAMOTORS
383
386
389
393
396
TATAPOWER
71
72
73
74
75
TATASTEEL
264
272
277
285
289
TCS
2,491
2,510
2,539
2,558
2,587
TECHM
491
501
507
517
523
ULTRACEMCO
3,163
3,211
3,239
3,287
3,316
WIPRO
570
578
583
590
596
YESBANK
793
808
816
832
840
ZEEL
380
393
401
415
422
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Daily Technical Report
July 23, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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