Daily Technical Report
September 25, 2014
Sensex (26745) / Nifty (8002)
Exhibit 1: Nifty Daily Chart
Yesterday, once again our market opened on a flat note
considering quiet trading mood across the globe.
Subsequently, the Nifty remained within a narrow range
throughout the first half; but, post the midsession; we
witnessed tremendous volatility in the market. As a result,
the index recovered from the intraday lows and closed with
very nominal losses. On the sectoral front, the FMCG,
Healthcare and Oil & Gas managed to close inside the
positive territory; whereas the Realty, Capital Goods,
Banking and Consumer Durables counters were among the
major losers. The advance to decline ratio was strongly in
favor of the declining counters. (A=1011 D=1951)
(Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25513 / 7635 and 22059 / 6599 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
Source: Falcon
26761 / 8018 and 25454 / 7607 levels, respectively.
Actionable points:
Trading strategy:
View
Neutral
A sharp sell off on Tuesday was followed by a muted
Support Levels
7950 - 7925
opening in our market. We witnessed a lethargic movement
Resistance Levels
8050 - 8060
throughout the first half; but post the Supreme Court verdict
on coal-block allocation triggered a strong selling pressure
across the broader market. In the process, the Nifty went on
to post an intraday low of 7950.05. However, it seemed
that this selling was just an immediate reaction to the
outcome as the index managed give a steep recovery from
the lows to trim major portion of the losses. We maintain
our view that as long as Nifty maintains its position below
8050 - 8060 levels, the bias would remain on the negative
side. On the Flipside, if the selling pressure re-enters into
the market then we may see Nifty testing 7950 - 7925
levels.
The coming session is likely to trade with enhanced volatility
on account of the September month derivative expiry.
Hence, it’s advisable to remain light on positions and trade
with proper strict stop losses.
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Daily Technical Report
September 25, 2014
Bank Nifty Outlook - (15740)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty’s too opened on a flat note in-
line with our benchmark index. But, as the day
progressed, the selling pressure aggravated in most of the
banking conglomerates and hence, the Bank Nifty clearly
underperformed our benchmark index by closing with a
percent loss. As mentioned, in our previous report, the
Bank Nifty precisely met with our targets of 15800 -
15750 after breaking the 15900 mark. Going forward,
15750 - 15700 would be seen as a crucial support zone
for the index. The near term chart structure may get
weakened once the index manages to sustain below
15700. In this scenario, the possibility of testing 15550-
15450 cannot be ruled out. On the flipside, 15800 -
15950 are seen as immediate resistance levels for the
Bank Nifty.
Actionable points:
View
Neutral
Resistance Levels
1
15800 - 15950
Source: Falcon
Support Levels
15700 - 15550
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Daily Technical Report
September 25, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,432
26,588
26,716
26,873
27,001
NIFTY
7,906
7,954
7,998
8,046
8,090
BANKNIFTY
15,445
15,593
15,774
15,921
16,102
ACC
1,385
1,408
1,440
1,463
1,495
AMBUJACEM
206
209
213
216
219
ASIANPAINT
618
628
635
645
651
AXISBANK
389
393
397
401
405
BAJAJ-AUTO
2,300
2,332
2,374
2,406
2,448
BANKBARODA
872
889
912
929
952
BHARTIARTL
389
396
402
409
416
BHEL
204
208
213
217
222
BPCL
616
629
642
654
667
CAIRN
309
312
315
318
321
CIPLA
563
581
592
611
622
COALINDIA
329
340
347
358
364
DLF
150
155
159
163
167
DRREDDY
3,155
3,192
3,217
3,255
3,280
GAIL
434
438
443
447
451
GRASIM
3,514
3,566
3,642
3,693
3,769
HCLTECH
1,685
1,697
1,716
1,728
1,747
HDFC
1,029
1,042
1,054
1,067
1,079
HDFCBANK
840
848
853
860
865
HEROMOTOCO
2,873
2,908
2,953
2,988
3,033
HINDALCO
142
149
156
163
170
HINDUNILVR
734
749
758
773
782
ICICIBANK
1,470
1,493
1,522
1,545
1,573
IDFC
138
140
142
144
146
INDUSINDBK
607
615
624
632
640
INFY
3,564
3,605
3,638
3,679
3,712
ITC
367
372
376
381
384
JINDALSTEL
158
174
196
212
234
KOTAKBANK
1,017
1,027
1,037
1,047
1,058
LT
1,401
1,432
1,470
1,501
1,538
LUPIN
1,330
1,349
1,362
1,381
1,394
M&M
1,332
1,345
1,356
1,368
1,379
MARUTI
3,005
3,039
3,064
3,098
3,123
NMDC
165
167
168
170
172
NTPC
134
136
138
140
141
ONGC
397
405
411
419
424
PNB
882
905
935
958
988
POWERGRID
134
135
136
137
138
RELIANCE
946
956
965
974
984
SBIN
2,388
2,437
2,505
2,554
2,623
SSLT
272
277
281
286
291
SUNPHARMA
762
771
784
793
805
TATAMOTORS
501
507
513
519
524
TATAPOWER
80
83
85
87
89
TATASTEEL
458
465
476
483
494
TCS
2,587
2,615
2,661
2,689
2,735
TECHM
2,432
2,458
2,482
2,508
2,531
ULTRACEMCO
2,574
2,602
2,630
2,659
2,687
WIPRO
582
587
592
597
602
ZEEL
295
298
300
302
305
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Daily Technical Report
September 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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