Daily Technical Report
October 28, 2014
Sensex (26753) / Nifty (7992)
Exhibit 1: Nifty Daily Chart
The opening session of the week started slightly higher as
indicated by the SGX Nifty. After some consolidation, the
Nifty corrected a bit to close marginally in the negative
territory. The Realty, Oil & Gas and FMCG counters
witnessed a decent correction; whereas Consumer
Durables, Capital Goods and Banking sectors managed to
close in the green. The advance to decline ratio was in favor
of the declining counters. (A=1245 D=1609) (Source-
www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed at
25856 / 7732 and 22523 / 6738 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
26478 / 7918 and 25835 / 7726 levels, respectively.
Source: Falcon
Trading strategy:
Actionable points:
After a decent recovery from the recent low, we witnessed a
quiet session in our market. The Nifty has now met with our
View
Neutral
target of 8050 and hence, it’s advisable to lighten up the
position until the next technical development happens.
Support Level
7900
Going forward, we expect the Nifty to consolidate in a
Resistance Levels
8050 - 8080
range of 8050 to
7900. Meanwhile, it’s advisable to
continue with a stock specific approach.
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Daily Technical Report
October 28, 2014
Bank Nifty Outlook - (16557)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Banking index too opened with an upside
gap in line with the benchmark index. However, looking
at the overall intraday movement, the Bank Nifty slightly
outperformed the benchmark index. During the first half,
the Bank Nifty surged a bit; but immediated pared down
major part of the gains. Going forward, the Bank Nifty
too is likely to remain within a range of 16700 - 16400.
However, some of the PSU Banking counters may give a
decent up move in coming trading session.
Actionable points:
View
Neutral
Resistance Levels
16600 - 16650
Support Levels
16310 - 16150
Source: Falcon
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Daily Technical Report
October 28, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
26,557
26,655
26,825
26,923
27,093
NIFTY
7,935
7,963
8,014
8,042
8,093
BANKNIFTY
16,370
16,464
16,564
16,657
16,757
ACC
1,441
1,450
1,468
1,477
1,495
AMBUJACEM
215
218
220
223
225
ASIANPAINT
640
644
652
656
663
AXISBANK
417
422
425
430
434
BAJAJ-AUTO
2,479
2,498
2,522
2,541
2,564
BANKBARODA
872
889
901
918
931
BHARTIARTL
408
411
414
417
420
BHEL
237
245
249
257
262
BPCL
669
678
687
695
704
CAIRN
267
272
281
286
295
CIPLA
615
622
626
633
637
COALINDIA
343
350
355
361
366
DLF
105
108
112
115
119
DRREDDY
3,009
3,057
3,124
3,172
3,239
GAIL
473
480
487
494
502
GRASIM
3,352
3,374
3,403
3,425
3,454
HCLTECH
1,456
1,477
1,507
1,528
1,558
HDFC
1,011
1,024
1,045
1,058
1,079
HDFCBANK
886
892
900
905
913
HEROMOTOCO
3,026
3,054
3,092
3,120
3,158
HINDALCO
144
145
148
150
153
HINDUNILVR
683
702
734
753
785
ICICIBANK
1,556
1,565
1,576
1,585
1,597
IDFC
141
143
145
147
149
INDUSINDBK
682
690
699
706
716
INFY
3,744
3,774
3,812
3,841
3,880
ITC
346
348
350
351
353
JINDALSTEL
146
149
155
158
163
KOTAKBANK
1,054
1,069
1,081
1,096
1,107
LT
1,550
1,559
1,570
1,579
1,590
LUPIN
1,373
1,383
1,390
1,401
1,408
M&M
1,223
1,240
1,257
1,273
1,290
MARUTI
3,071
3,120
3,155
3,205
3,240
NMDC
159
161
163
165
166
NTPC
143
144
146
148
150
ONGC
386
390
398
403
410
PNB
914
923
935
944
955
POWERGRID
137
140
143
145
148
RELIANCE
920
931
947
958
975
SBIN
2,561
2,579
2,600
2,618
2,638
SSLT
243
246
250
253
257
SUNPHARMA
780
793
803
815
825
TATAMOTORS
492
498
508
514
524
TATAPOWER
86
87
88
89
90
TATASTEEL
441
446
454
459
467
TCS
2,399
2,428
2,474
2,503
2,549
TECHM
2,289
2,308
2,339
2,357
2,389
ULTRACEMCO
2,381
2,406
2,430
2,455
2,480
WIPRO
542
548
553
560
565
ZEEL
313
322
331
340
349
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Daily Technical Report
October 28, 2014
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Technical Analyst
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