Daily Technical Report
December 27, 2013
Sensex (21075) / Nifty (6279)
Exhibit 1: Nifty Daily Chart
Yesterday, once again we witnessed a quiet opening in our
market considering muted global cues. The index then
oscillated within a trading throughout the session and
eventually, closed with very nominal gains. On the sectoral
front, the Power, Consumer Durables and Banking counters
closed in the positive territory; whereas the Auto and Health
Care sectors remained slightly under pressure. The advance to
decline ratio was strongly in favor of the advancing counters.
(A=1424 D=1043)(Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20362 / 6052 and 19218 / 5767 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20873 / 6206 and 20395 / 6069 levels, respectively.
The ‘Bearish Engulfing’ Japanese candlestick pattern on
the weekly chart is still intact.
Source: Falcon
Trading strategy:
Yesterday, some volatility was seen in the last 30 min on
Actionable points:
account of derivative expiry but that too was within a 40 point
range. It’s been three consecutive sessions where our markets
oscillated between 6315 and 6260. Hence, the synopsis of our
View
Neutral
report remains unchanged. We maintain our view that the
Support Levels
6259 - 6129
index may witness a corrective move towards 6160 - 6129 if
Resistance Levels
6318 - 6363
the Nifty sustains below 6250. On the flip side, if the index
manages to sustain above yesterday's high of 6318, then it is
likely to re test 6363 - 6415 levels. With the derivative expiry
out of the way and the New Year celebrations on the cards,
volumes are likely to remain muted in the coming trading
sessions.
www.angelbroking.com
1
Daily Technical Report
December 27, 2013
Bank Nifty Outlook - (11386)
Exhibit 2: Bank Nifty Daily Chart
The Bank Nifty movement has been identical to our
benchmark index in last three trading sessions. The
overall chart structure remains intact and hence, we
reiterate our view that the hourly 89 EMA (11363) is
proving to be a strong supply level for the index. During
yesterday’s session, the banking index managed to close
tad higher; but this move can be termed as a convincing
closing only if the index sustains above 11454. In this
scenario, we may witness a rally towards 11572 - 11622
levels. On the downside, 11258 - 11074 may provide a
decent support for the index.
Actionable points:
View
Neutral
Support Levels
11258 - 11074
Resistance levels
11454 - 11572
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
December 27, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,952
21,013
21,075
21,136
21,197
NIFTY
6,237
6,258
6,280
6,301
6,324
BANKNIFTY
11,268
11,327
11,377
11,436
11,486
ACC
1,090
1,100
1,112
1,122
1,134
AMBUJACEM
179
181
183
186
188
ASIANPAINT
484
487
489
492
494
AXISBANK
1,259
1,278
1,298
1,318
1,338
BAJAJ-AUTO
1,894
1,922
1,968
1,996
2,042
BANKBARODA
635
641
649
654
662
BHARTIARTL
321
325
328
333
336
BHEL
171
173
174
176
178
BPCL
344
349
355
360
366
CAIRN
316
318
322
324
328
CIPLA
391
394
400
403
409
COALINDIA
277
280
283
285
288
DLF
168
169
170
172
173
DRREDDY
2,443
2,478
2,518
2,553
2,593
GAIL
335
338
340
343
345
GRASIM
2,639
2,681
2,713
2,754
2,786
HCLTECH
1,231
1,238
1,242
1,249
1,253
HDFC
768
774
780
786
792
HDFCBANK
651
660
666
675
681
HEROMOTOCO
2,051
2,075
2,113
2,137
2,175
HINDALCO
119
120
121
122
124
HINDUNILVR
557
561
565
568
573
ICICIBANK
1,086
1,093
1,099
1,106
1,113
IDFC
104
105
107
108
110
INDUSINDBK
410
415
422
427
434
INFY
3,462
3,491
3,513
3,542
3,564
ITC
316
318
320
322
323
JINDALSTEL
255
259
262
266
269
JPASSOCIAT
54
54
55
55
56
KOTAKBANK
715
720
728
733
741
LT
1,056
1,064
1,074
1,083
1,093
LUPIN
886
897
913
923
939
M&M
948
954
962
969
976
MARUTI
1,767
1,780
1,792
1,805
1,817
NMDC
134
136
139
141
144
NTPC
134
136
138
139
141
ONGC
284
288
291
295
299
PNB
613
620
632
640
652
POWERGRID
96
98
99
100
101
RANBAXY
451
456
465
470
478
RELIANCE
872
880
890
898
908
RELINFRA
416
421
431
436
446
SBIN
1,733
1,743
1,757
1,768
1,782
SESAGOA
196
198
200
202
204
SUNPHARMA
561
566
571
575
581
TATAMOTORS
363
367
372
375
380
TATAPOWER
85
87
89
91
93
TATASTEEL
412
419
423
429
434
TCS
2,077
2,089
2,103
2,114
2,128
ULTRACEMCO
1,740
1,760
1,787
1,807
1,835
www.angelbroking.com
3
Daily Technical Report
December 27, 2013
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits and
risks of such an investment.
Angel Broking Pvt. Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make
investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Angel Broking Pvt. Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking
or other advisory services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or
in the past.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
Research Team
Shardul Kulkarni
-
Head - Technicals
Sameet Chavan
-
Technical Analyst
For any Queries, Suggestions and Feedback kindly mail to [email protected]
Angel Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.
Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 30940000
Sebi Registration No: INB 010996539
www.angelbroking.com
4