Daily Technical Report
June 25, 2014
Sensex (25369) / Nifty (7580)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a gap up opening of nearly half a
percent as indicated by the SGX Nifty. Subsequently, index
continued to move higher as the day progressed and
eventually managed to close with more than a percent gain.
On the sectoral front, excluding Healthcare, all the sectors
closed in the positive. The Oil & Gas, Consumer Durables
and Realty counters were among the major gainers in
yesterday’s up move. The advance to decline ratio was
strongly in favor of the advancing counters. (A=2029
D=1004 (Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
23234/ 6935 and 20677/ 6188 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
24965 / 7463 and 23165 / 6916 levels, respectively.
The daily ‘RSI’ momentum oscillator confirmed its
Source: Falcon
breakdown from the ‘Horizontal Line’ level of 64.50
Actionable points:
Trading strategy:
View
Neutral
Monday’s late recovery was followed by a cheerful
Support Levels
7530 - 7490
beginning of yesterday’s session. Initially, we felt that the
Resistance Level
7620 - 7663
index would face a resistance around the hourly ’89 EMA’
level of 7520. But surprisingly, this resistance got thrashed
with an ease during the early morning trades. As a result,
index managed to add exactly 100 points to the previous
day’s closing. Despite some last hour selling pressure, index
eventually went on to close almost at the highest point of
the day. At this juncture, considering past few day’s erratic
movement and one day prior to the derivative expiry
session, we would like to remain neutral on the index. On
the upside, 7620 - 7663 levels are seen as immediate
resistance levels. However, one technical evidence, the
placement of daily ‘RSI’ momentum oscillator below its
breakdown point of 64.50 is still supporting our view that
the index is likely witness some correction in the near term.
Going forward,
7530
-
7490 would be treated as
important support levels.
www.angelbroking.com
1
Daily Technical Report
June 25, 2014
Bank Nifty Outlook - (15310)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened higher and
continued its optimism throughout the session to close
with more than one and half a percent gains. The Bank
Nifty is now trading well above the hourly ’89 EMA’ level
of 15200 and hence, it can be now considered as a
strong intraday support. On the flipside, if the index
manages to sustain above yesterday’s high of 15342 then
we may witness an extended rally towards 15462 -
15550 levels. However, in case, if the index manages to
break 15200 then there is a possibility of a correction
towards 15050 - 14950.
Actionable points:
View
Neutral
Support Levels
15050 - 14950
Source: Falcon
Resistance Levels
15462 - 15550
www.angelbroking.com
2
Daily Technical Report
June 25, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,001
25,185
25,300
25,484
25,599
NIFTY
7,485
7,532
7,563
7,611
7,641
BANKNIFTY
15,065
15,187
15,265
15,387
15,464
ACC
1,447
1,460
1,472
1,485
1,497
AMBUJACEM
219
221
222
224
226
ASIANPAINT
567
574
578
584
588
AXISBANK
1,863
1,894
1,912
1,943
1,961
BAJAJ-AUTO
2,184
2,202
2,219
2,238
2,255
BANKBARODA
826
845
858
877
889
BHARTIARTL
335
338
342
345
348
BHEL
243
247
249
253
256
BPCL
550
567
578
594
605
CAIRN
367
370
374
376
380
CIPLA
420
424
427
430
433
COALINDIA
382
387
391
396
400
DLF
205
212
217
224
229
DRREDDY
2,446
2,454
2,462
2,470
2,478
GAIL
436
448
455
467
474
GRASIM
3,400
3,456
3,501
3,558
3,603
HCLTECH
1,395
1,406
1,414
1,425
1,433
HDFC
961
979
989
1,007
1,017
HDFCBANK
821
825
829
833
837
HEROMOTOCO
2,569
2,592
2,608
2,631
2,647
HINDALCO
164
165
167
168
170
HINDUNILVR
607
612
618
622
628
ICICIBANK
1,405
1,422
1,434
1,451
1,463
IDFC
127
129
130
131
132
INDUSINDBK
563
568
572
576
581
INFY
3,168
3,186
3,210
3,228
3,253
ITC
312
316
319
324
327
JINDALSTEL
326
329
332
335
338
KOTAKBANK
857
868
884
895
911
LT
1,631
1,651
1,675
1,695
1,719
LUPIN
998
1,003
1,010
1,016
1,022
M&M
1,147
1,157
1,170
1,180
1,193
MARUTI
2,376
2,395
2,409
2,428
2,441
MCDOWELL-N
2,546
2,577
2,607
2,638
2,669
NMDC
172
176
179
183
186
NTPC
151
153
155
156
158
ONGC
425
434
440
449
456
PNB
944
958
971
985
997
POWERGRID
131
132
133
133
134
RELIANCE
1,038
1,049
1,056
1,067
1,074
RELINFRA
700
715
725
740
750
SBIN
2,572
2,618
2,646
2,691
2,719
SSLT
291
295
299
303
308
SUNPHARMA
619
624
630
635
641
TATAMOTORS
429
436
441
447
452
TATAPOWER
100
102
104
105
107
TATASTEEL
523
528
532
536
540
TCS
2,230
2,270
2,295
2,334
2,359
TECHM
1,976
1,985
1,996
2,005
2,016
ULTRACEMCO
2,658
2,682
2,711
2,735
2,764
www.angelbroking.com
3
Daily Technical Report
June 25, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4