Daily Technical Report
December 26, 2014
Sensex (27209) / Nifty (8174)
Exhibit 1: Nifty Daily Chart
On Wednesday, once again we witnessed a flat opening in
our market on the back of mixed global cues. Subsequently,
the Nifty consolidated for the major part of the session.
However, a strong selling across the broader market in the
concluding hour dragged the index lower to shed more
than a percent as compared to the previous close. Barring
Realty, all sectors ended the session in the negative territory
amongst which the IT, FMCG, Healthcare and Oil & Gas
were the major losers. The advance to decline ratio was
marginally in favor of the declining counters. (A=1340
D=1487) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27017 / 8082 and 23339 / 6982 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 28009 / 8395 and 26982 / 8073 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
On Wednesday, we witnessed a flat opening in the market
View
Neutral
considering quiet global cues. The index then consolidated
Resistance Level
8250
until the final hour of the trade. Towards the fag end of the
Support Levels
8150 - 8100
session, we witnessed tremendous volatility on the back of
December month derivative series expiry. A strong selling
pressure in most of the heavyweight constituents dragged
the index lower to close well below the 8200 mark. As
mentioned in our earlier report, we witnessed tremendous
weakness in the Nifty after breaking the important support
level of 8250. As a result, the Nifty precisely met with our
both targets of 8200 - 8150 (low was 8158.55). Going
forward, we maintain our negative stance on the market as
long as Nifty remains below the 8250 mark. On the
downside, a sustainable move below 8150 may extend
these losses towards 8100 - 8060 levels.
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Daily Technical Report
December 26, 2014
Bank Nifty Outlook - (18535)
Exhibit 2: Bank Nifty Daily Chart
On Wednesday, the banking index too opened on a flat
note and then traded with a negative bias throughout the
session. However, it can be concluded that the Bank Nifty
managed to outperform our benchmark index by
restricting its losses to 0.37% compared to the previous
close. Looking at the hourly chart, it can be observed that
the index has a strong support around the ’89 EMA’
placed at 18400. Only a sustainable move below this
level may trigger pessimism in the index. In this scenario,
the index may correct towards 18250 - 18150 levels. On
the flipside, 18700 would act as an immediate resistance
level.
Actionable points:
View
Neutral
Resistance Levels
18700
Support Levels
18400 - 18250
Source: Falcon
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Daily Technical Report
December 26, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,884
27,046
27,309
27,471
27,734
NIFTY
8,074
8,124
8,205
8,255
8,336
BANKNIFTY
18,363
18,449
18,579
18,665
18,795
ACC
1,366
1,380
1,394
1,408
1,422
AMBUJACEM
222
225
228
230
234
ASIANPAINT
714
721
732
739
750
AXISBANK
488
491
494
498
501
BAJAJ-AUTO
2,416
2,447
2,493
2,524
2,570
BANKBARODA
1,047
1,054
1,061
1,067
1,074
BHARTIARTL
347
350
354
357
361
BHEL
245
250
257
262
269
BPCL
625
632
643
650
661
CAIRN
235
238
243
247
252
CIPLA
613
619
628
634
642
COALINDIA
364
370
380
387
396
DLF
129
130
133
134
137
DRREDDY
3,080
3,107
3,147
3,174
3,213
GAIL
420
427
438
445
456
GRASIM
3,301
3,355
3,435
3,490
3,570
HCLTECH
1,357
1,449
1,506
1,597
1,655
HDFC
1,067
1,084
1,109
1,125
1,150
HDFCBANK
927
936
950
960
974
HEROMOTOCO
3,025
3,063
3,112
3,150
3,200
HINDALCO
147
149
151
153
155
HINDUNILVR
744
750
759
765
774
ICICIBANK
348
350
354
356
360
IDFC
150
152
154
156
158
INDUSINDBK
772
778
786
792
800
INFY
1,872
1,901
1,944
1,973
2,016
ITC
361
366
372
377
384
JINDALSTEL
140
143
146
149
151
KOTAKBANK
1,227
1,236
1,245
1,254
1,263
LT
1,448
1,463
1,485
1,500
1,522
LUPIN
1,363
1,382
1,413
1,433
1,464
M&M
1,216
1,234
1,259
1,277
1,302
MARUTI
3,286
3,326
3,373
3,413
3,460
NMDC
142
144
145
146
148
NTPC
135
137
141
143
146
ONGC
334
339
347
351
359
PNB
216
218
221
223
226
POWERGRID
132
134
136
139
141
RELIANCE
870
877
887
894
904
SBIN
302
304
307
309
312
SSLT
198
202
205
209
212
SUNPHARMA
791
797
807
813
823
TATAMOTORS
475
479
486
491
497
TATAPOWER
80
81
81
82
83
TATASTEEL
387
391
395
400
404
TCS
2,434
2,457
2,489
2,512
2,544
TECHM
2,462
2,490
2,531
2,559
2,601
ULTRACEMCO
2,527
2,574
2,619
2,666
2,711
WIPRO
532
539
547
554
562
ZEEL
375
378
380
383
385
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Daily Technical Report
December 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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