Daily Technical Report
August 27, 2014
Sensex (26444) / Nifty (7905)
Exhibit 1: Nifty Daily Chart
Yesterday, our benchmark index opened slightly lower as
indicated by the pre-opening session. Subsequently, the
index remained under pressure for the major part of the
session. A decent recovery towards the fag end led to a flat
closing in our market. After a massive beating on Monday,
the Metal sector managed to bounce a bit. The FMCG and
Health Care sectors were the other two major gainers;
whereas the Power, Oil & Gas and Capital Goods
remained under pressure throughout the session. The
advance to decline ratio was strongly in favor of the
declining
counters.
(A=1104 D=1859) (Source-
www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
24859 / 7434 and 21708 / 6493 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26039 / 7793 and 24869 / 7428 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
Yesterday, our benchmark index opened marginally in the
View
Neutral
red and traded with a negative bias until the final hour of
Support Levels
7840 - 7800
the trade where we witnessed a complete recovery from the
Resistance Levels
7940 - 7980
day’s low. Although, the trading range in the Nifty was
merely 50 points; we witnessed massive sell off in some of
the individual counters. The Nifty has now closed around
the midpoint of the trading range (7980 - 7840). Going
forward, we maintain our view that so long as Nifty
manages to hold 7840 - 7820, our bias remains positive.
Only a sustainable move below 7820 may trigger possibility
of a near term correction in the market. On the flipside,
7940 - 7980 are seen as immediate resistance levels for
the index.
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Daily Technical Report
August 27, 2014
Bank Nifty Outlook - (15624)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened lower in-line with
our benchmark index. The entire day’s movement was
quite similar to the Nifty as the banking index too traded
lower throughout the last of the trade and eventually
managed to trim a major portion of losses. As mentioned
in our previous report, the banking index found a strong
support marginally above the 15500 and then recovered
nearly a percent. Going forward, we maintain our positive
stance on the Bank Nifty and expect it to extend its gains
once it manages to sustain above the 15700 mark. In this
scenario, we can immediately expect 15800 - 15900
levels. The stop loss for the mentioned trade set up can be
kept below 15500.
Actionable points:
View
Bullish
Expected Targets
15800 - 15900
Support Levels
15500
Source: Falcon
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Daily Technical Report
August 27, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,246
26,344
26,413
26,512
26,580
NIFTY
7,841
7,873
7,894
7,926
7,947
BANKNIFTY
15,430
15,527
15,601
15,698
15,772
ACC
1,441
1,466
1,499
1,524
1,556
AMBUJACEM
205
207
210
212
214
ASIANPAINT
599
604
608
612
616
AXISBANK
386
392
396
402
406
BAJAJ-AUTO
2,196
2,228
2,256
2,289
2,317
BANKBARODA
872
882
889
899
906
BHARTIARTL
360
365
370
375
381
BHEL
219
226
231
238
243
BPCL
637
651
662
676
687
CAIRN
316
320
322
325
328
CIPLA
500
506
512
518
524
COALINDIA
344
350
358
364
372
DLF
185
189
191
194
196
DRREDDY
2,830
2,860
2,895
2,924
2,959
GAIL
419
427
431
439
443
GRASIM
3,269
3,325
3,399
3,455
3,529
HCLTECH
1,547
1,574
1,596
1,623
1,645
HDFC
1,046
1,054
1,062
1,070
1,078
HDFCBANK
833
838
843
848
853
HEROMOTOCO
2,502
2,534
2,565
2,596
2,627
HINDALCO
153
162
167
176
181
HINDUNILVR
712
720
725
733
738
ICICIBANK
1,467
1,488
1,503
1,523
1,538
IDFC
139
141
144
146
149
INDUSINDBK
550
556
564
570
578
INFY
3,581
3,603
3,621
3,643
3,661
ITC
348
350
352
354
356
JINDALSTEL
226
231
238
244
250
KOTAKBANK
1,032
1,043
1,051
1,062
1,071
LT
1,474
1,490
1,506
1,523
1,539
LUPIN
1,246
1,267
1,279
1,301
1,313
M&M
1,379
1,389
1,398
1,408
1,417
MARUTI
2,731
2,752
2,776
2,797
2,821
MCDOWELL-N
2,329
2,363
2,399
2,433
2,469
NMDC
166
169
170
173
174
NTPC
138
140
141
142
143
ONGC
401
409
421
429
440
PNB
927
941
953
967
979
POWERGRID
129
130
131
133
134
RELIANCE
977
985
991
999
1,005
SBIN
2,446
2,471
2,490
2,515
2,534
SSLT
269
275
279
285
289
SUNPHARMA
837
851
863
877
889
TATAMOTORS
489
501
508
520
527
TATAPOWER
85
87
87
89
89
TATASTEEL
505
515
522
532
538
TCS
2,478
2,506
2,528
2,556
2,578
TECHM
2,289
2,321
2,343
2,375
2,396
ULTRACEMCO
2,542
2,576
2,613
2,647
2,684
WIPRO
538
545
552
559
567
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Daily Technical Report
August 27, 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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