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Daily Technical Report: Sensex (27275) / Nifty (8235)

The daily technical report provides analysis of the Sensex, Nifty, and Bank Nifty stock indices. It notes that the indices opened higher and gained over 1.5% due to positive global cues. All sectors ended in positive territory, led by banking, FMCG, realty and metal stocks. The report maintains a neutral outlook on the indices, expecting resistance at 8250-8300 for Nifty and 18800-18900 for Bank Nifty. Downside support levels are given as 8180-8130 for Nifty and 18400-18200 for Bank Nifty. Pivot levels are provided for various stocks.

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Tirthajit Sinha
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42 views

Daily Technical Report: Sensex (27275) / Nifty (8235)

The daily technical report provides analysis of the Sensex, Nifty, and Bank Nifty stock indices. It notes that the indices opened higher and gained over 1.5% due to positive global cues. All sectors ended in positive territory, led by banking, FMCG, realty and metal stocks. The report maintains a neutral outlook on the indices, expecting resistance at 8250-8300 for Nifty and 18800-18900 for Bank Nifty. Downside support levels are given as 8180-8130 for Nifty and 18400-18200 for Bank Nifty. Pivot levels are provided for various stocks.

Uploaded by

Tirthajit Sinha
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Daily Technical Report

January 09, 2015

Sensex (27275) / Nifty (8235)

Exhibit 1: Nifty Daily Chart

Yesterday, we witnessed a gap up opening in our market


considering strong cues from other global bourses. The
index then took a pause for some time and then resumed its
early morning uptrend to close with more than one and half
a percent gains. All sectors ended in the positive territory
amongst which the Banking, FMCG, Realty and Metal were
the major gainers. The advance to decline ratio was
strongly in favor of the advancing counters. (A=2050
D=823) (Sourcewww.bseindia.com)
Formations

The 89-day EMA and the 89-week EMA are placed


at 27089 / 8121 and 23525 / 7066 levels, respectively.

The 20-day EMA and the 20-week EMA are placed


Source: Falcon
at 27601 / 8285 and 27085 / 8126 levels, respectively.

Trading strategy:

Yesterday, we witnessed a gap up opening by nearly 100


points in the Nifty on the back of positive cues from the US
as well as Asian bourses. This momentum continued
throughout the session and hence, the Nifty managed to
regain the 8200 mark on a closing basis. The gap up
opening by such a margin was not unexpected for us; but,
in our previous report, we had clearly mentioned about the
possibility of a bounce back towards 8180 8220 levels.
Since, the index has now reached the mentioned resistance
zone (the hourly 89 EMA); we maintain our negative stance
on the market. Thus, its advisable to use this opportunity to
exit existing longs or create short positions in the market.
We continue to remain bearish on the market and expect
the index to test 8000 7960 levels in next few sessions.
The above mentioned hypothesis may negate if the index
manages to sustain above the 8300 mark.

www.angelbroking.com

Actionable points:
View

Neutral

Resistance Levels

8250 8300

Support Levels

8180 8130

Daily Technical Report


January 09, 2015

Exhibit 2: Bank Nifty Daily Chart

Bank Nifty Outlook - (18701)


Yesterday, similar to our benchmark index, the Bank Nifty
too opened substantially higher and traded with a positive
bias throughout the session. As a result, the Bank Nifty
managed to recover two percent from its previous days
losses. However, we maintain our cautious stance on the
Bank Nifty and expect it to face a strong resistance
around 18800 18900 levels. On the flipside, the
downside momentum in the index may reinforce once the
index manages to give an hourly close below the 18600
mark. In this scenario, we may expect an immediate
correction towards 18400 18300 levels.
Actionable points:

View

Neutral

Resistance Levels

18550 18650

Support Levels

18400 18200

www.angelbroking.com

Source: Falcon

Daily Technical Report


January 09, 2015

Daily Pivot Levels for Nifty 50 Stocks


SCRIPS

SENSEX
NIFTY
BANKNIFTY
ACC

S2

S1

PIVOT

R1

R2

27,017

27,146

27,231

27,360

27,445

8,139

8,187

8,215

8,263

8,291

18,381

18,541

18,647

18,807

18,913

1,364

1,378

1,387

1,401

1,411

AMBUJACEM

219

223

225

229

231

ASIANPAINT

762

791

807

836

852

AXISBANK

489

495

501

508

514

BAJAJ-AUTO

2,422

2,436

2,451

2,465

2,479

BANKBARODA

1,063

1,070

1,077

1,084

1,091

BHARTIARTL

349

355

359

365

369

BHEL

253

255

258

260

263

BPCL

637

657

670

690

702

CAIRN

231

236

239

245

248

CIPLA

608

613

617

622

627

COALINDIA

373

376

381

384

388

DLF

132

137

141

146

149

3,014

3,040

3,067

3,093

3,120

415

423

429

437

444

GRASIM

3,365

3,395

3,428

3,459

3,492

HCLTECH

1,478

1,506

1,523

1,551

1,568

HDFC

1,102

1,113

1,121

1,131

1,139

DRREDDY
GAIL

HDFCBANK

940

952

961

973

981

2,931

2,957

2,978

3,005

3,026

HINDALCO

147

150

151

154

156

HINDUNILVR

793

805

815

827

837

ICICIBANK

338

343

346

350

353

IDFC

155

156

157

158

159

INDUSINDBK

781

790

797

806

813

1,926

1,950

1,973

1,997

2,020

ITC

353

357

360

365

368

JINDALSTEL

150

154

156

160

163

KOTAKBANK

1,260

1,300

1,327

1,367

1,393

LT

1,493

1,502

1,513

1,521

1,532

LUPIN

1,367

1,388

1,400

1,421

1,433

M&M

1,221

1,229

1,238

1,246

1,255

MARUTI

3,411

3,443

3,476

3,509

3,542

NMDC

136

137

137

138

139

NTPC

142

144

144

146

147

ONGC

332

337

340

345

349

PNB

204

205

207

209

211

POWERGRID

135

137

138

139

140

RELIANCE

826

834

848

857

871

SBIN

300

303

305

307

309

SSLT

202

206

210

214

217

SUNPHARMA

811

815

818

822

825

TATAMOTORS

495

504

509

518

523

78

79

80

81

81

388

391

394

398

400

TCS

2,409

2,427

2,438

2,455

2,466

TECHM

2,506

2,536

2,558

2,588

2,610

ULTRACEMCO

2,635

2,681

2,707

2,753

2,779

WIPRO

533

539

549

555

565

ZEEL

356

360

366

370

376

HEROMOTOCO

INFY

TATAPOWER
TATASTEEL

www.angelbroking.com

Daily Technical Report


January 09, 2015
Research Team Tel: 022 - 30940000

E-mail: [email protected]

Website: www.angelbroking.com

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Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
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Research Team
Sameet Chavan

Technical Analyst

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