Daily Technical Report
December 31, 2013
Sensex (21143) / Nifty (6291)
Exhibit 1: Nifty Daily Chart
On Monday, our benchmark indices opened tad higher and
immediately shed all its early gains. Selling pressure increased
post midsession, which led the index to close with nominal
losses. On the sectoral front, Oil & Gas and Metal pack
somehow managed to close in the green; whereas the Realty,
IT and Banking sectors underperformed our benchmark index.
The advance to decline ratio was strongly in favor of the
advancing
counters.
(A=1347
D=1167)(Source-
www.bseindia.com)
Formation
The ’89-day EMA’ and the ’89-week EMA’ are placed at
20411 / 6073 and 19263 / 5779 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed at
20937 / 6233 and 20474 / 6092 levels, respectively.
The ‘Bearish Engulfing’ Japanese candlestick pattern on
the weekly chart is still intact.
Source: Falcon
Actionable points:
Trading strategy:
The last Monday of the calendar year started on a higher note
View
Neutral
but eventually we witnessed a negative closing for the day.
Support Levels
6259 - 6170
However, we are not observing a major change in the chart
structure as the index continues to oscillate in the range of
Resistance Levels
6344 - 6363
6320 to 6250. Also, looking at the volumes, it is clear that the
participation is still missing. As mentioned in our previous
reports we continue with our view that only a move beyond
6320 or below 6250 will be a trend deciding move for the
index.
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Daily Technical Report
December 31, 2013
Bank Nifty Outlook - (11376)
Exhibit 2: Bank Nifty Daily Chart
The Bank Nifty too opened on a muted note in line with
the Benchmark index. Similar to the Nifty, the banking
index too faced a modest selling pressure throughout the
session and as a result, Bank Nifty closed with a loss of
more than half a percent. We are now observing that the
index has closed just below the ‘Hourly 89 EMA’ placed at
11383. Going forward, if the Bank nifty sustains below
yesterday’s low of 11355, then a further decline towards
11258 - 11200 can be expected. On the upside, 11552
- 11622 levels are immediate resistance levels for the
banking index in coming trading sessions.
Actionable points:
View
Neutral
Support Levels
11355 - 11258
Resistance levels
11552 - 11622
Source: Falcon
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Daily Technical Report
December 31, 2013
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
20,963
21,053
21,179
21,269
21,394
NIFTY
6,232
6,261
6,303
6,332
6,374
BANKNIFTY
11,230
11,303
11,428
11,501
11,625
ACC
1,071
1,083
1,103
1,115
1,136
AMBUJACEM
178
180
183
185
188
ASIANPAINT
480
484
487
491
495
AXISBANK
1,269
1,278
1,292
1,300
1,315
BAJAJ-AUTO
1,863
1,882
1,912
1,931
1,961
BANKBARODA
628
635
647
655
667
BHARTIARTL
326
328
331
333
335
BHEL
168
174
177
183
187
BPCL
342
345
350
353
357
CAIRN
321
323
324
325
327
CIPLA
393
397
402
406
411
COALINDIA
280
285
288
293
296
DLF
161
163
168
171
176
DRREDDY
2,491
2,508
2,529
2,546
2,566
GAIL
336
339
342
345
349
GRASIM
2,657
2,679
2,704
2,726
2,751
HCLTECH
1,214
1,231
1,250
1,266
1,286
HDFC
782
789
794
801
806
HDFCBANK
659
664
671
676
682
HEROMOTOCO
2,023
2,046
2,076
2,099
2,130
HINDALCO
120
121
122
123
124
HINDUNILVR
565
569
573
577
581
ICICIBANK
1,073
1,085
1,105
1,117
1,137
IDFC
103
104
106
107
109
INDUSINDBK
411
414
420
423
429
INFY
3,417
3,460
3,517
3,560
3,617
ITC
318
320
322
324
326
JINDALSTEL
257
260
263
266
269
JPASSOCIAT
51
52
53
54
55
KOTAKBANK
717
725
733
740
748
LT
1,044
1,054
1,068
1,078
1,092
LUPIN
893
900
907
914
921
M&M
924
936
954
967
985
MARUTI
1,753
1,765
1,780
1,792
1,807
NMDC
140
141
143
144
145
NTPC
135
135
137
137
139
ONGC
285
287
290
293
296
PNB
610
618
630
637
649
POWERGRID
98
98
99
100
101
RANBAXY
438
445
456
463
475
RELIANCE
870
879
884
893
898
RELINFRA
416
420
427
431
438
SBIN
1,736
1,750
1,769
1,784
1,803
SESAGOA
198
200
205
207
211
SUNPHARMA
560
565
571
576
583
TATAMOTORS
369
372
375
378
381
TATAPOWER
87
88
89
90
91
TATASTEEL
419
422
425
429
432
TCS
2,131
2,143
2,159
2,172
2,188
ULTRACEMCO
1,694
1,717
1,752
1,775
1,810
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Daily Technical Report
December 31, 2013
Research Team Tel: 022 - 30940000
E-mail: [email protected]
Website: www.angelbroking.com
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Research Team
Shardul Kulkarni
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Head - Technicals
Sameet Chavan
-
Technical Analyst
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