Daily Technical Report
February 26, 2014
Sensex (20852) / Nifty (6200)
Exhibit 1: Nifty Daily Chart
Yesterday's session opened slightly higher as indicated by the
SGX Nifty early in the morning. Subsequently, index moved
further but started experiencing some profit post the initial
hour. This resulted in a muted closing precisely at the 6200
mark. On the sectoral front, the Banking, Metal and Power
counters were under pressure; whereas Consumer Durables
and Capital goods sectors closed in the green. The advance to
decline ratio was in favor of the declining counters. (A=1312
D=1355)(Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20585 / 6120 and 19497 / 5839 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20614 / 6125 and 20587 / 6122 levels, respectively.
Trading strategy:
Yesterday, our benchmark index continued its previous day's
Source: Falcon
optimism and opened tad above the 6200 mark. After
moving slightly higher, the bulls chose to book profits and
remain cautious throughout the session. As a result, index
Actionable points:
remained range bound and formed a 'Narrow Range' body
formation on the daily chart. It has formed near the 61.8%
View
Neutral
Fibonacci retracement level of the fall from 6356 to 5933.
Support Levels
6176 - 6130
Hence, any sustainable move below yesterday's low of 6176
Resistance Levels
6230 - 6265
may result in further correction towards 6130 level. On the
flipside,
6230
-
6265 levels remain to be a strong
resistance zone for the market.
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Daily Technical Report
February 26, 2014
Bank Nifty Outlook - (10667)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened slightly on the
positive note. However, the index remained under
pressure for major part of the session and eventually
closed with nominal losses. Yesterday's high precisely
coincides with the daily '89 EMA', which acted as a strong
resistance for the index. Going forward, a move below
10611 may lead to some intraday correction towards
10471 - 10419 levels. On the other hand, 10770 -
10800 zone remains to be an immediate resistance levels
for the Bank Nifty.
Actionable points:
View
Neutral
Support Levels
10611 - 10471
Resistance levels
10770 - 10800
Source: Falcon
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Daily Technical Report
February 26, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,713
20,783
20,848
20,917
20,982
NIFTY
6,158
6,179
6,198
6,219
6,238
BANKNIFTY
10,525
10,596
10,682
10,753
10,840
ACC
1,067
1,075
1,082
1,090
1,096
AMBUJACEM
160
162
164
166
168
ASIANPAINT
468
470
472
475
477
AXISBANK
1,212
1,224
1,238
1,250
1,263
BAJAJ-AUTO
1,835
1,868
1,889
1,923
1,943
BANKBARODA
522
530
535
542
547
BHARTIARTL
281
284
287
290
292
BHEL
155
158
159
161
163
BPCL
361
366
371
376
380
CAIRN
321
323
325
327
328
CIPLA
365
370
373
378
381
COALINDIA
241
243
248
251
256
DLF
139
140
142
144
146
DRREDDY
2,739
2,754
2,777
2,793
2,816
GAIL
347
352
359
364
371
GRASIM
2,481
2,504
2,522
2,545
2,563
HCLTECH
1,526
1,538
1,546
1,558
1,566
HDFC
802
806
812
817
823
HDFCBANK
661
666
671
676
681
HEROMOTOCO
1,919
1,935
1,946
1,961
1,973
HINDALCO
96
98
98
100
100
HINDUNILVR
551
553
555
557
559
ICICIBANK
1,012
1,021
1,035
1,044
1,058
IDFC
93
94
96
97
99
INDUSINDBK
393
398
402
407
411
INFY
3,740
3,761
3,777
3,798
3,814
ITC
318
320
321
323
324
JINDALSTEL
236
239
243
245
249
JPASSOCIAT
39
40
41
42
43
KOTAKBANK
666
671
677
682
688
LT
1,066
1,077
1,083
1,094
1,101
LUPIN
941
947
958
964
975
M&M
929
937
943
950
957
MARUTI
1,660
1,669
1,681
1,690
1,703
NMDC
126
129
133
136
139
NTPC
111
114
116
118
121
ONGC
277
279
282
284
287
PNB
527
532
539
545
551
POWERGRID
95
95
95
96
96
RANBAXY
345
356
365
376
385
RELIANCE
803
807
811
815
820
RELINFRA
352
356
363
367
373
SBIN
1,487
1,496
1,509
1,518
1,531
SESAGOA
174
177
181
184
188
SUNPHARMA
611
615
620
624
629
TATAMOTORS
391
395
397
401
403
TATAPOWER
78
80
82
83
85
TATASTEEL
352
356
364
369
377
TCS
2,170
2,179
2,189
2,199
2,209
ULTRACEMCO
1,815
1,840
1,860
1,885
1,905
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Daily Technical Report
February 26, 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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