Daily Technical Report
June 26, 2014
Sensex (25314) / Nifty (7569)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a flat opening in our market
considering quiet trading mood across the broader market.
Subsequently, index remained within a narrow range
throughout the session and eventually closed with very
minor losses. On the sectoral front, the Realty, Consumer
Durables, Healthcare and Auto sectors ended marginally in
the positive territory; whereas the Oil & Gas and Capital
Goods counters remained slightly under pressure. The
advance to decline ratio was in favor of the advancing
counters. (A=1681 D=1350) (Source-www.bseindia.com)
Formations
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
breakdown from the ‘Horizontal Line’ level of 64.50
Source: Falcon
Actionable points:
Trading strategy:
Our benchmark index vacillated within a very narrow range
View
Neutral
throughout the session just one day ahead of the June
Support Levels
7530 - 7490
series derivative expiry. The movement was very lethargic
Resistance Level
7620 - 7663
and hence, we are not seeing any major change in the
chart structure. We reiterate that 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. On the
flipside,
7620
-
7663 levels are seen as immediate
resistance levels.
The coming session is likely trade with higher volatility.
Hence, we advise traders to follow strict stop losses and
avoid taking undue risks.
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Daily Technical Report
June 26, 2014
Bank Nifty Outlook - (15238)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the banking index too opened on a subdued
note and the overall movement was almost similar to the
Nifty. The index managed to shed half a percent despite a
lackluster session. However, this movement does not lead
to any change in our opinion. We continue to mention
that the hourly ’89 EMA’ level of 15200 is likely to act as
an immediate and crucial intraday support for the index.
Any sustainable move below this level may attract some
selling pressure. In this scenario, lower levels of 15050 -
14950 can be re-tested. On the flipside, 15342 is seen as
an immediate resistance for the index.
Actionable points:
View
Neutral
Support Levels
15050 - 14950
Source: Falcon
Resistance Levels
15462 - 15550
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Daily Technical Report
June 26, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,185
25,249
25,339
25,403
25,492
NIFTY
7,540
7,554
7,572
7,587
7,604
BANKNIFTY
15,160
15,199
15,260
15,299
15,360
ACC
1,448
1,459
1,468
1,479
1,489
AMBUJACEM
218
220
222
223
226
ASIANPAINT
567
577
583
593
599
AXISBANK
1,888
1,900
1,917
1,929
1,946
BAJAJ-AUTO
2,185
2,230
2,261
2,307
2,338
BANKBARODA
854
861
868
876
883
BHARTIARTL
329
333
336
340
343
BHEL
245
247
251
253
257
BPCL
567
574
581
588
594
CAIRN
364
367
371
374
378
CIPLA
420
423
427
430
434
COALINDIA
389
393
397
401
405
DLF
212
215
218
220
223
DRREDDY
2,440
2,459
2,472
2,491
2,504
GAIL
457
462
466
471
475
GRASIM
3,454
3,471
3,498
3,515
3,542
HCLTECH
1,393
1,406
1,422
1,435
1,452
HDFC
982
989
996
1,003
1,010
HDFCBANK
817
820
827
831
837
HEROMOTOCO
2,567
2,605
2,633
2,671
2,699
HINDALCO
164
166
167
168
169
HINDUNILVR
607
616
622
631
636
ICICIBANK
1,407
1,414
1,424
1,431
1,441
IDFC
126
127
129
130
132
INDUSINDBK
561
570
576
585
591
INFY
3,182
3,197
3,221
3,236
3,260
ITC
313
314
317
319
321
JINDALSTEL
325
328
331
334
337
KOTAKBANK
866
875
885
894
904
LT
1,623
1,637
1,658
1,671
1,693
LUPIN
993
1,008
1,020
1,036
1,048
M&M
1,140
1,160
1,178
1,197
1,215
MARUTI
2,326
2,399
2,463
2,536
2,600
MCDOWELL-N
2,544
2,593
2,642
2,691
2,739
NMDC
179
180
181
183
184
NTPC
154
155
157
158
159
ONGC
426
431
440
445
454
PNB
953
959
969
976
985
POWERGRID
131
131
132
133
134
RELIANCE
1,042
1,046
1,053
1,058
1,064
RELINFRA
728
735
742
748
755
SBIN
2,624
2,658
2,681
2,715
2,738
SSLT
291
294
298
300
305
SUNPHARMA
620
626
631
638
643
TATAMOTORS
434
439
444
448
453
TATAPOWER
103
104
105
106
106
TATASTEEL
525
528
533
536
541
TCS
2,281
2,296
2,308
2,323
2,335
TECHM
1,984
2,001
2,012
2,029
2,039
ULTRACEMCO
2,660
2,692
2,714
2,746
2,767
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Daily Technical Report
June 26, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
-
Technical Analyst
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