Daily Technical Report
May 28, 2014
Sensex (24550) / Nifty (7318)
Exhibit 1: Nifty Daily Chart
On Tuesday, our benchmark index opened on a flat note as
indicated by the SGX Nifty. Right from the beginning, strong
selling pressure dragged the index lower by almost 100
points from the morning high. However, a decent recovery
in the latter part led the index to close with a half a percent
loss.On the sectoral front, the Realty, Power and Oil & Gas
counters remained under pressure; whereas the IT and
TECK sectors some how managed to close in the green. The
advance to decline ratio was in favor of the declining
counters (A=1269 D=1689) (Source-www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
22296 / 6650 and 20366 / 6095 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
23776 / 7094 and 22472 / 6705 levels, respectively.
Source: Falcon
Trading strategy:
Actionable points:
Yesterday’s session was relatively easier to understand for
intraday traders as the index maintained a single bias
View
Neutral
throughout the day, which was negative. Although, index
Support Levels
7269 - 7200
has managed to shed nearly a percent in last two sessions
Resistance Levels
7375- 7420
on a closing basis, we cannot ignore the fact that index lost
more than 200 points from Monday morning high. This
price clearly indicates that the traders are now opting to
take some cash off the table and may continue to do so
over the next couple of sessions. In this scenario, 7230 -
7200 may get tested. On the upside, 7375 - 7420 are seen
as immediate resistance levels for the index. We advise
traders to avoid intraday trading as we may witness
enhanced volatility one day ahead of May month derivative
expiry.
www.angelbroking.com
1
Daily Technical Report
May 28, 2014
Bank Nifty Outlook - (15084)
Exhibit 2: Bank Nifty Daily Chart
On Tuesday, the banking index opened slightly on the
negative side and rising selling pressure pulled the index
much lower to trade with more than two percent cut at
one point of the day. However, a smart recovery in the
latter part trimmed major portion of intraday losses. As
mentioned in our previous report, the index is oscillating
within a range of 15570 to 14850. This range is slightly
wider as the index is experiencing a higher volatility.
Going forward, 15378 - 15570 would act as immediate
resistance levels; whereas the supports are seen around
14930 - 14850.
Actionable points:
View
Neutral
Support Levels
14930 - 14850
Resistance Levels
15378 - 15570
Source: Falcon
www.angelbroking.com
2
Daily Technical Report
May 28, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
24,228
24,389
24,583
24,744
24,938
NIFTY
7,224
7,271
7,322
7,369
7,420
BANKNIFTY
14,836
14,960
15,059
15,183
15,283
ACC
1,288
1,309
1,334
1,355
1,379
AMBUJACEM
197
203
208
214
219
ASIANPAINT
508
516
523
531
537
AXISBANK
1,808
1,829
1,850
1,871
1,893
BAJAJ-AUTO
1,916
1,944
1,967
1,995
2,018
BANKBARODA
862
874
895
907
927
BHARTIARTL
329
333
336
340
343
BHEL
229
238
249
257
268
BPCL
526
540
550
565
575
CAIRN
341
345
348
352
355
CIPLA
372
375
380
384
389
COALINDIA
373
383
395
405
417
DLF
190
197
202
210
215
DRREDDY
2,271
2,291
2,313
2,333
2,355
GAIL
357
368
385
396
413
GRASIM
3,009
3,047
3,089
3,127
3,170
HCLTECH
1,335
1,359
1,392
1,416
1,449
HDFC
891
901
917
927
943
HDFCBANK
779
792
801
814
824
HEROMOTOCO
2,253
2,284
2,310
2,340
2,366
HINDALCO
139
144
147
153
156
HINDUNILVR
555
557
560
563
565
ICICIBANK
1,415
1,431
1,443
1,459
1,471
IDFC
127
130
134
137
140
INDUSINDBK
531
543
552
565
574
INFY
3,074
3,104
3,130
3,160
3,185
ITC
339
341
345
347
350
JINDALSTEL
281
298
309
326
337
KOTAKBANK
841
856
865
880
889
LT
1,500
1,533
1,555
1,588
1,611
LUPIN
894
906
918
931
942
M&M
1,138
1,168
1,204
1,234
1,270
MARUTI
2,241
2,271
2,320
2,350
2,399
MCDOWELL-N
2,781
2,793
2,803
2,815
2,825
NMDC
166
170
174
179
183
NTPC
145
149
154
159
164
ONGC
381
388
397
404
414
PNB
963
979
1,004
1,020
1,045
POWERGRID
122
124
126
129
131
RELIANCE
1,057
1,073
1,090
1,106
1,123
RELINFRA
651
674
692
715
733
SBIN
2,565
2,597
2,649
2,681
2,732
SSLT
255
266
274
284
292
SUNPHARMA
578
585
592
599
605
TATAMOTORS
423
430
440
447
458
TATAPOWER
92
95
100
103
107
TATASTEEL
455
466
473
484
490
TCS
2,078
2,105
2,145
2,171
2,211
TECHM
1,764
1,809
1,836
1,881
1,907
ULTRACEMCO
2,187
2,226
2,253
2,292
2,319
www.angelbroking.com
3
Daily Technical Report
May 28, 2014
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
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