Daily Technical Report
February 25, 2014
Sensex (20811) / Nifty (6186)
Exhibit 1: Nifty Daily Chart
The week began tad lower despite extreme negative cues from
other Asian bourses. The index slipped further during the initial
hour but immediately recovered from the lows and eventually,
went on to close well inside the positive territory. On the
sectoral front, the Banking, Capital Goods and Healthcare
counters were among the major gainers; whereas Power and
Metal sectors were under pressure. The advance to decline
ratio was in favor of the advancing counters. (A=1338
D=1323)(Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20579 / 6118 and 19496 / 5839 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20589 / 6117 and 20583 / 6120 levels, respectively.
Trading strategy:
Our benchmark index opened slightly on the cautious note;
Source: Falcon
but bulls managed to regain their dominance as the day
progressed. As mentioned in the previous report, the
ongoing optimism pushed the index towards the lower
Actionable points:
range of the 'Breakaway Gap' area of 6190 - 6265. Going
forward, we continue to maintain our stance that the index
View
Neutral
is likely to enter this gap area and may test 6230 - 6265
Support Levels
6130 - 6080
levels. This up move can be used to book existing long
positions and then traders would be advised to wait for
Resistance Levels
6230 - 6265
further clarification on the market. On the flipside,
yesterday’s low of 6130 now would act as immediate
support level for the market.
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Daily Technical Report
February 25, 2014
Bank Nifty Outlook - (10684)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened marginally lower in-
line with the benchmark index. Similar to Nifty, the
banking index too remained under pressure during the
initial hour; but managed to recover sharply from the
lows on the back of strong optimism seen in some of the
heavyweight constituents. In the process, the Bank Nifty
penetrated strong resistance of the daily ‘Downward
Sloping Trend Line’ (please refer the exhibit). Hence, as
mentioned in our earlier report, we expect the Bank Nifty
to march towards the major resistance zone of 10800
level, which coincides with the Daily ‘89 EMA’. On the
flipside, 10471 would now act an intraday support for the
banking index.
Actionable points:
View
Neutral
Support Levels
10470 - 10419
Source: Falcon
Resistance levels
10800 - 10975
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Daily Technical Report
February 25, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,568
20,690
20,759
20,881
20,950
NIFTY
6,109
6,147
6,170
6,208
6,231
BANKNIFTY
10,382
10,533
10,622
10,773
10,862
ACC
1,045
1,058
1,069
1,082
1,093
AMBUJACEM
156
158
161
164
167
ASIANPAINT
461
466
469
474
477
AXISBANK
1,160
1,199
1,222
1,261
1,284
BAJAJ-AUTO
1,835
1,849
1,863
1,876
1,891
BANKBARODA
507
518
523
534
539
BHARTIARTL
275
279
286
289
296
BHEL
148
152
155
159
161
BPCL
355
359
364
369
373
CAIRN
323
324
325
326
327
CIPLA
363
365
369
371
375
COALINDIA
249
250
253
254
257
DLF
140
141
143
144
145
DRREDDY
2,684
2,740
2,770
2,826
2,856
GAIL
348
356
362
370
376
GRASIM
2,472
2,489
2,509
2,526
2,546
HCLTECH
1,510
1,520
1,531
1,541
1,551
HDFC
779
795
804
819
829
HDFCBANK
649
660
667
677
684
HEROMOTOCO
1,904
1,927
1,940
1,962
1,975
HINDALCO
96
97
98
99
100
HINDUNILVR
551
553
555
557
560
ICICIBANK
1,008
1,022
1,032
1,046
1,057
IDFC
93
94
94
95
96
INDUSINDBK
382
390
396
405
410
INFY
3,721
3,735
3,745
3,759
3,768
ITC
314
317
319
322
323
JINDALSTEL
237
240
244
247
250
JPASSOCIAT
41
41
42
43
43
KOTAKBANK
655
666
673
685
692
LT
1,036
1,060
1,075
1,099
1,113
LUPIN
922
939
949
966
976
M&M
921
933
939
951
957
MARUTI
1,626
1,655
1,675
1,704
1,724
NMDC
134
134
136
137
138
NTPC
108
113
121
125
133
ONGC
273
278
281
285
289
PNB
523
531
537
545
552
POWERGRID
94
94
95
96
96
RANBAXY
349
356
361
369
373
RELIANCE
801
807
811
816
821
RELINFRA
357
360
364
368
371
SBIN
1,478
1,494
1,506
1,522
1,534
SESAGOA
181
183
185
186
188
SUNPHARMA
607
614
619
626
631
TATAMOTORS
391
394
397
400
404
TATAPOWER
80
82
83
84
86
TATASTEEL
362
366
370
373
377
TCS
2,149
2,164
2,184
2,199
2,220
ULTRACEMCO
1,744
1,791
1,818
1,865
1,892
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Daily Technical Report
February 25, 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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