Daily Technical Report
January 28, 2015
Sensex (29571) / Nifty (8911)
Exhibit 1: Nifty Daily Chart
Trading for the week began on a flat note considering
mixed global cues. The index then consolidated in a narrow
range for the major part of the session and eventually
spurted during the concluding hour to add another 0.85%
to the bull’s kitty. The Banking sector propelled this up move
along with the Capital Goods, FMCG and Auto counters;
whereas the IT and Metal packs remained under pressure
throughout the session. The advance to decline ratio was
marginally in favor of the declining counters. (A=1419
D=1510) (Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27367 / 8219 and 23916 / 7163 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 28088 / 8476 and 27439 / 8240 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
A dream run for our markets continued as the benchmark
View
Neutral
index (Nifty) registered a eighth consecutive session in the
Resistance Levels
8950 - 9000
positive territory post the Reserve Bank of India’s (RBI)
Support Level
8825
surprising move. Posting new highs has now become a
mere formality as the Nifty managed to reach yet another
milestone of 8900 in no time. As mentioned in our previous
report, the index is likely to continue it’s up move to test
8950 - 9000 levels. However, due to the steep rally, it’s not
advisable to trade in the Nifty on either side. A prudent
strategy for the traders who are holding existing longs
would be to stay with the flow as long as previous day’s low
is intact. For the coming trading session, yesterday’s low of
8825 would be seen as immediate support level.
Meanwhile, traders can continue to follow a stock centric
approach and trade with a proper exit strategy.
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Daily Technical Report
January 28, 2015
Bank Nifty Outlook - (20555)
Exhibit 2: Bank Nifty Daily Chart
The impact of rate cut happened on January 15, 2015 is
not over yet as the banking conglomerates (especially
Private) soared by more than two percent during
yesterday’s session. In fact, the banking space was a
leading contributor in yesterday’s up move. Looking at the
ongoing momentum, the Bank Nifty can extend its up
move towards 20700 - 20800 levels. However, it’s not
advisable to trade on either side due to unfavorable risk
to reward ratio. On the flipside, 20300 - 20200 are now
likely to act as immediate support levels for the index.
Actionable points:
View
Neutral
Resistance Levels
20700 - 20800
Support Levels
20300 - 20200
Source: Falcon
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Daily Technical Report
January 28, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
29,159
29,365
29,492
29,698
29,824
NIFTY
8,787
8,849
8,887
8,949
8,987
BANKNIFTY
19,910
20,233
20,421
20,744
20,932
ACC
1,484
1,507
1,526
1,548
1,567
AMBUJACEM
243
246
249
253
255
ASIANPAINT
856
873
883
900
910
AXISBANK
555
573
586
604
616
BAJAJ-AUTO
2,363
2,391
2,416
2,444
2,468
BANKBARODA
217
220
222
225
228
BHARTIARTL
377
386
390
399
404
BHEL
276
279
283
286
290
BPCL
649
670
683
704
717
CAIRN
231
235
242
246
253
CIPLA
673
690
700
717
727
COALINDIA
370
376
385
392
401
DLF
152
155
157
160
162
DRREDDY
3,115
3,164
3,244
3,293
3,374
GAIL
410
414
421
426
432
GRASIM
3,741
3,795
3,830
3,884
3,919
HCLTECH
1,583
1,600
1,624
1,641
1,666
HDFC
1,277
1,296
1,308
1,328
1,340
HDFCBANK
1,027
1,051
1,064
1,088
1,101
HEROMOTOCO
2,803
2,831
2,850
2,877
2,897
HINDALCO
137
140
142
145
148
HINDUNILVR
918
930
949
961
980
ICICIBANK
368
376
380
388
392
IDFC
168
171
173
176
178
INDUSINDBK
843
853
862
872
880
INFY
2,072
2,104
2,163
2,195
2,253
ITC
345
353
357
364
368
JINDALSTEL
154
157
159
161
163
KOTAKBANK
1,351
1,369
1,381
1,400
1,412
LT
1,705
1,723
1,737
1,755
1,769
LUPIN
1,456
1,490
1,510
1,544
1,564
M&M
1,286
1,305
1,333
1,352
1,379
MARUTI
3,540
3,614
3,659
3,733
3,779
NMDC
135
138
140
143
146
NTPC
140
141
143
144
146
ONGC
344
347
349
353
355
PNB
199
202
205
208
212
POWERGRID
146
148
149
152
153
RELIANCE
873
881
889
897
905
SBIN
319
324
328
334
338
SSLT
199
203
206
210
212
SUNPHARMA
879
897
918
936
957
TATAMOTORS
591
598
603
609
614
TATAPOWER
87
88
89
91
92
TATASTEEL
391
395
399
403
408
TCS
2,477
2,489
2,502
2,515
2,528
TECHM
2,740
2,778
2,799
2,838
2,858
ULTRACEMCO
3,048
3,085
3,142
3,179
3,237
WIPRO
589
594
600
605
611
ZEEL
381
386
389
393
396
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Daily Technical Report
January 28, 2015
Research Team Tel: 022 - 30940000
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Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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