Daily Technical Report
September 29, 2015
Sensex (25617) / Nifty (7796)
Exhibit 1: Nifty Daily Chart
Trading for the week began on a flat note considering mixed
global cues. Subsequently, the index traded in a small range
throughout the first half; but, post the mid-session, we
witnessed a decent correction in the market, which eventually
dragged the index to close below the 7800 mark. Amongst the
sectoral indices, the Consumer Durables, Realty and
Healthcare were the major gainers; whereas, the Metals,
Capital Goods, Auto and IT sectors became major draggers.
The advance to decline ratio was in favor of the declining
counters. (A=1139 D=1592) (Source: www.bseindia.com).
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 26992 / 8184 and 25909 / 7812 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
Source: Falcon
at 26003 / 7904 and 27060 / 8204 levels, respectively.
Actionable points:
Trading strategy:
After the relief rally of last two trading sessions, the Nifty
View
Neutral
started the October F&O series on a positive note. But, the
Resistance Levels
7840 - 7900
positive momentum was short livened as the index resisted
Support Level
7723 - 7650
around the 50% retracement levels of the recent fall from
8055 to 7723.25 and resumed its down move. Since there is
RBI policy scheduled today, we could see enhanced volatility
in intraday trades. However, as we have been mentioning in
our previous reports, both the daily and weekly charts
continue to be negatively poised and hence, we maintain our
negative stance on the market. In case, RBI comes out with a
decision which is positive for the markets, traders should not
carried away with the pullback moves. Positionally, it is a ‘Sell
on Rise’ market and hence traders are advised not to create
aggressive longs. Going forward, the immediate support for
the Nifty is placed at 7723 and 7650 levels; whereas, 7840 and
7900 will now act as a crucial resistance for the index.
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Daily Technical Report
September 29, 2015
Bank Nifty Outlook - (17100)
Exhibit 2: Bank Nifty Daily Chart
In yesterday's trading session, the BankNifty index opened
marginally positive and traded in a narrow range for most
part of the day. However the banking stocks showed
corrective action in the concluding hour of the session and
as a result the banking index ended the session with losses
of 0.93%. Since, there is RBI policy meet scheduled today,
the index and stocks may remain volatile. According to our
assessment, market has already factored in 25 bps rate cut
and if there is 25 bps cut or no rate cut then the index may
correct in line with global peers. Technically, we had seen
formation of bearish patterns on daily charts in the last
week and current chart structure is also indicating downside
probabilities. Hence, traders are advised not to create any
aggressive long positions. The immediate resistance for
BankNifty index is seen around 17400 and 17645; whereas,
support are placed around 16744 and 16485.
Actionable points:
View
Neutral
Source: Falcon
Resistance Levels
17400 - 17645
Support Levels
16744 - 16485
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Daily Technical Report
September 29, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
25,372
25,495
25,716
25,838
26,059
NIFTY
7,720
7,758
7,826
7,864
7,932
BANKNIFTY
16,876
16,988
17,186
17,299
17,497
ACC
1,319
1,328
1,342
1,351
1,365
AMBUJACEM
199
201
204
206
209
ASIANPAINT
780
793
803
816
826
AXISBANK
494
500
511
517
528
BAJAJ-AUTO
2,235
2,255
2,282
2,302
2,330
BANKBARODA
180
183
186
189
192
BHARTIARTL
317
322
329
334
341
BHEL
191
193
196
199
202
BOSCHLTD
19,655
19,873
20,220
20,438
20,785
BPCL
863
873
886
896
909
CAIRN
144
146
148
150
152
CIPLA
630
636
645
651
660
COALINDIA
299
304
313
318
327
DRREDDY
3,872
4,032
4,129
4,289
4,386
GAIL
287
290
293
296
299
GRASIM
3,401
3,426
3,450
3,474
3,499
HCLTECH
934
942
953
962
973
HDFC
1,149
1,161
1,175
1,186
1,200
HDFCBANK
1,033
1,040
1,050
1,057
1,067
HEROMOTOCO
2,304
2,327
2,358
2,381
2,413
HINDALCO
69
70
71
72
74
HINDUNILVR
770
780
791
802
813
ICICIBANK
263
265
269
272
275
IDEA
137
140
143
145
148
INDUSINDBK
905
916
927
938
948
INFY
1,075
1,090
1,116
1,132
1,158
ITC
314
317
321
323
327
KOTAKBANK
625
633
647
654
668
LT
1,398
1,414
1,442
1,458
1,485
LUPIN
1,934
1,962
2,015
2,043
2,096
M&M
1,198
1,210
1,225
1,237
1,252
MARUTI
4,458
4,497
4,556
4,595
4,654
NMDC
92
93
94
95
97
NTPC
119
120
122
122
124
ONGC
222
223
226
228
230
PNB
132
133
136
137
139
POWERGRID
123
125
127
129
131
RELIANCE
822
828
835
841
847
SBIN
236
238
241
243
246
VEDL
87
89
93
95
98
SUNPHARMA
833
847
871
885
909
TATAMOTORS
270
278
291
298
312
TATAPOWER
62
64
65
67
69
TATASTEEL
202
206
212
216
222
TCS
2,558
2,576
2,597
2,615
2,637
TECHM
563
568
575
580
587
ULTRACEMCO
2,661
2,689
2,740
2,768
2,819
WIPRO
583
588
595
600
607
YESBANK
706
713
727
735
749
ZEEL
373
378
388
393
403
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Daily Technical Report
September 29, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Sameet Chavan
-
Technical Analyst
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