Daily Technical Report
January 30, 2015
Sensex (29682) / Nifty (8952)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets opened marginally lower
considering negative global cues. The index remained
slightly under pressure for the major part of the session.
However, we witnessed a sudden spurt in the market
towards the latter part of the day, which led the Nifty to
close with nearly half a percent gains. Barring negligible
losses from the Metal and Teck, all other sectors ended in
the positive territory amongst which the Oil & Gas, FMCG
and Healthcare were the major gainers. The advance to
decline ratio was marginally in favor of the declining
counters. (A=1427 D=1448) (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:
The impact of overnight negative cues from the US bourses
View
Neutral
was seen in our market as the index opened with a
Resistance Levels
9000 - 9050
marginal downside gap and then drifted lower to test the
Support Level
8861
8850 mark. However, the hourly ’20 EMA’ provided a
strong support for the market. The Nifty consolidated until
the last hour spurt which pulled the index well above the
8900 mark to give a highest ever close around 8950.
Going forward, yesterday’s low of 8861 would now be seen
as an important support for the index. The bulls may
continue their northward journey until this low remains
intact on a closing basis. On the higher side, 9000 - 9050
levels cannot be ruled out. However, a breach of 8861 on a
closing basis may apply brakes on the ongoing optimism. In
this scenario, we may witness a near term correction
towards
8780
-
8750 levels. Meanwhile, traders can
continue their stock centric approach with a proper exit
strategy.
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Daily Technical Report
January 30, 2015
Bank Nifty Outlook - (20528)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, the Bank Nifty too opened tad lower and then
consolidated throughout the remaining session. The
hourly ’20 EMA’ in the banking index too played a sheet
anchor role for the bulls. Similar to the Nifty, yesterday’s
low of 20338 would now be seen as a crucial support on
the closing basis. Only a sustainable move below this
level may result into some near term weakness towards
20200 - 20100 levels. On the flipside, 20600 - 20800
are seen as immediate resistance levels.
Actionable points:
View
Neutral
Resistance Levels
20600 - 20800
Support Level
20338
Source: Falcon
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Daily Technical Report
January 30, 2015
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
29,238
29,460
29,600
29,822
29,963
NIFTY
8,821
8,887
8,927
8,992
9,032
BANKNIFTY
20,242
20,385
20,482
20,625
20,722
ACC
1,515
1,549
1,569
1,604
1,624
AMBUJACEM
244
250
253
260
263
ASIANPAINT
835
858
890
913
946
AXISBANK
575
587
595
607
614
BAJAJ-AUTO
2,359
2,382
2,399
2,422
2,440
BANKBARODA
211
214
219
223
228
BHARTIARTL
356
366
373
383
391
BHEL
271
279
285
293
299
BPCL
696
715
726
745
757
CAIRN
228
231
235
238
242
CIPLA
673
685
699
711
724
COALINDIA
357
366
373
382
388
DLF
158
162
166
170
173
DRREDDY
3,148
3,256
3,318
3,425
3,488
GAIL
410
417
422
428
433
GRASIM
3,813
3,872
3,911
3,971
4,010
HCLTECH
1,586
1,618
1,640
1,671
1,694
HDFC
1,270
1,293
1,318
1,341
1,367
HDFCBANK
1,046
1,070
1,086
1,110
1,125
HEROMOTOCO
2,836
2,856
2,877
2,898
2,919
HINDALCO
137
139
141
144
146
HINDUNILVR
917
929
939
951
960
ICICIBANK
372
376
380
384
388
IDFC
167
169
172
173
176
INDUSINDBK
857
866
873
882
889
INFY
2,119
2,132
2,141
2,154
2,163
ITC
355
363
367
375
379
JINDALSTEL
148
153
156
161
164
KOTAKBANK
1,307
1,319
1,337
1,349
1,367
LT
1,670
1,697
1,715
1,742
1,761
LUPIN
1,504
1,529
1,546
1,571
1,588
M&M
1,262
1,279
1,300
1,317
1,337
MARUTI
3,636
3,662
3,704
3,730
3,772
NMDC
137
139
140
142
143
NTPC
140
141
142
143
143
ONGC
344
348
352
356
360
PNB
193
196
202
205
211
POWERGRID
146
148
149
150
151
RELIANCE
896
913
924
940
951
SBIN
320
324
329
332
337
SSLT
193
197
201
205
208
SUNPHARMA
873
896
915
938
957
TATAMOTORS
573
586
593
606
613
TATAPOWER
86
87
88
89
90
TATASTEEL
380
385
389
394
398
TCS
2,486
2,515
2,542
2,571
2,598
TECHM
2,848
2,876
2,903
2,931
2,958
ULTRACEMCO
3,088
3,126
3,150
3,187
3,212
WIPRO
591
597
606
612
620
ZEEL
379
382
386
390
394
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Daily Technical Report
January 30, 2015
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Sameet Chavan
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Technical Analyst
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