Daily Technical Report
December 31, 2014
Sensex (27404) / Nifty (8248)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a flat opening in our market amid
mixed cues from other Asian bourses. Subsequently, the
Nifty oscillated within a narrow range throughout the
session to close on a neutral note. The Capital Goods,
Consumer Durables, Power and Banking sectors were
among the major gainers; whereas the Oil & Gas, Metal
and Auto counters remained under pressure throughout the
session. The advance to decline ratio was marginally in
favor of the advancing counters. (A=1438 D=1423)
(Source-www.bseindia.com)
Formations
The ’89-day EMA’ and the ’89-week EMA’ are placed
at 27055 / 8101 and 23512 / 7036 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ are placed
at 27559 / 8276 and 27040 / 8098 levels, respectively.
Source: Falcon
Actionable points:
Trading strategy:
As expected, the penultimate session of the calendar year
View
Neutral
2014 traded with lethargic movement and ended tad higher
Resistance Level
8300
than previous close. During the entire session, the Nifty
Support Level
8210
traded within 48 points with no clear direction. This is a
clear indication of lack of participation in the market. Since
the overall chart structure is unchanged; we continue to
expect the index to remain within a range of 8365 to 8145
for next few trading sessions. As long as the Nifty doesn’t
surpass the higher end of 8365, we would maintain our
mildly negative stance on the market. Meanwhile, traders
can focus on stock specific approach; but, the aggressive
trading is not advisable on either side. The intraday support
for the coming trading session is seen at 8210 and the
resistance is at 8300.
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Daily Technical Report
December 31, 2014
Bank Nifty Outlook - (18648)
Exhibit 2: Bank Nifty Daily Chart
Yesterday, similar to the benchmark index, the Bank Nifty
too opened on a subdued note and then witnessed a
minor correction throughout the first half. However, the
hourly ’89 EMA’ level of 18400 acted as a strong support
for the bulls and as a result, we observed a sharp
recovery from lower levels, which pushed the index
beyond the 18600 mark to close with more than half a
percent gains. Going forward, we reiterate that a
sustainable move below the 18400 mark may trigger
pessimism in the index. In this scenario, the index may
correct towards 18250 - 18150 levels. On the flipside, a
move beyond 18700 may extend the up move towards
18850 - 18900 levels.
Actionable points:
View
Neutral
Resistance Levels
18700 - 18850
Support Level
18400
Source: Falcon
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Daily Technical Report
December 31, 2014
Daily Pivot Levels for Nifty 50 Stocks
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
27,232
27,318
27,398
27,484
27,564
NIFTY
8,198
8,223
8,246
8,271
8,293
BANKNIFTY
18,339
18,493
18,583
18,737
18,826
ACC
1,383
1,390
1,398
1,405
1,413
AMBUJACEM
228
229
230
231
232
ASIANPAINT
735
742
753
760
771
AXISBANK
486
493
496
503
506
BAJAJ-AUTO
2,426
2,440
2,466
2,480
2,505
BANKBARODA
1,046
1,064
1,075
1,093
1,103
BHARTIARTL
343
347
350
353
357
BHEL
252
255
257
260
263
BPCL
638
643
650
656
663
CAIRN
232
233
236
237
240
CIPLA
618
621
625
629
633
COALINDIA
377
380
384
387
391
DLF
132
134
136
138
140
DRREDDY
3,126
3,154
3,172
3,201
3,219
GAIL
429
437
442
449
454
GRASIM
3,359
3,376
3,401
3,418
3,443
HCLTECH
1,560
1,574
1,585
1,600
1,611
HDFC
1,109
1,119
1,127
1,137
1,145
HDFCBANK
936
946
953
963
970
HEROMOTOCO
3,019
3,052
3,106
3,139
3,193
HINDALCO
153
155
156
158
159
HINDUNILVR
752
756
762
765
771
ICICIBANK
345
348
350
352
355
IDFC
155
157
158
159
160
INDUSINDBK
768
780
787
799
807
INFY
1,948
1,957
1,966
1,975
1,984
ITC
365
367
369
371
373
JINDALSTEL
145
148
153
156
161
KOTAKBANK
1,225
1,236
1,243
1,254
1,262
LT
1,483
1,491
1,501
1,508
1,519
LUPIN
1,393
1,410
1,426
1,443
1,458
M&M
1,243
1,250
1,258
1,265
1,272
MARUTI
3,323
3,335
3,352
3,364
3,381
NMDC
142
144
145
146
148
NTPC
139
140
141
143
144
ONGC
338
340
343
345
347
PNB
214
216
219
221
223
POWERGRID
137
137
138
138
139
RELIANCE
864
872
885
893
907
SBIN
304
307
309
312
314
SSLT
208
210
213
215
218
SUNPHARMA
810
815
822
827
834
TATAMOTORS
485
490
495
499
504
TATAPOWER
81
81
82
82
82
TATASTEEL
389
392
399
403
410
TCS
2,503
2,517
2,530
2,543
2,556
TECHM
2,570
2,591
2,611
2,631
2,651
ULTRACEMCO
2,583
2,607
2,633
2,657
2,683
WIPRO
545
549
552
556
559
ZEEL
373
376
380
383
388
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Daily Technical Report
December 31, 2014
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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