EQLine Research and Services Pvt Ltd Daily Technical Report February 24, 2015 Sensex (28975) / Nifty (8755) Exhibit 1: Nifty Daily Chart Trading for the week began slightly higher considering quiet global cues. Subsequently, the index consolidated in a narrow range for the major part of the session. However, a strong selling pressure in most of the heavyweights dragged the index lower to close with more than a percent cut. All sectors during the session ended in the negative territory amongst which the Oil & Gas, Consumer Durables and FMCG were the major draggers. The advance to decline ratio was strongly in favor of the declining counters. (A=1193 D=1698) (Source–www.bseindia.com) Formations The ’89-day EMA’ and the ’89-week EMA’ are placed at 27921 / 8402 and 24358 / 7302 levels, respectively. The ’20-day EMA’ and the ‘20-week EMA’ are placed at 28875 / 8723 and 27975 / 8418 levels, respectively. Trading strategy: Our benchmark index kick-started the week with a marginal upside gap as suggested by the SGX Nifty. However, the index was struggling to maintain its position at higher levels due to selling pressure seen in most of the index Actionable points: View Neutral Resistance Levels 8794 – 8825 Support Levels 8794 – 8750 heavyweights. As a result, we witnessed a nosedive in the latter half of the session and the Nifty slipped below the crucial support level of 8794.45. Since, the index has now breached and closed below the low of the ‘Hanging Man’ pattern; we may witness further weakness towards 8680 – 8650 levels. On the higher side, 8794 – 8825 levels are now seen as immediate resistances for the market. Any bounce towards these levels is expected to get sold into at least with an intraday perspective. Thus, we reiterate that traders are advised to stay light on positions and avoid taking undue risks. EQLINE RESEARCH 212/4B, Ramani Srinivasan IInd street, Venkateswara Nagar, New Perungalathur, Chennai 600063. Ph: +919444119602 1 EQLine Research and Services Pvt Ltd February 24, 2015 Daily Technical Report Exhibit 2: Bank Nifty Daily Chart Bank Nifty Outlook - (18913) Yesterday, the Bank Nifty’s movement was quite similar to the benchmark index. The banking index opened slightly higher and then corrected in-line with the Nifty to shed another 0.84% to close below the 19000 mark. Going forward, yesterday’s low of 18835 is likely to be seen as an important support level for the index. Any sustainable move below this level may extend this correction towards 18700 – 18600 levels. On the flipside, 19000 – 19200 is now seen as an intraday resistance zone for the Bank Nifty. Actionable points: View Neutral Resistance Levels Support Levels 19000 – 19200 18835 – 18700 EQLINE RESEARCH 212/4B, Ramani Srinivasan IInd street, Venkateswara Nagar, New Perungalathur, Chennai 600063. Ph: +919444119602 2 EQLine Research and Services Pvt Ltd Daily Technical Report February 24, 2015 Daily Pivot Levels for Nifty 50 Stocks SCRIPS SENSEX NIFTY BANKNIFTY ACC S2 S1 PIVOT 28,634 28,805 29,084 R1 29,254 R2 29,534 8,654 8,704 8,787 8,837 8,920 18,605 18,759 18,990 19,144 19,374 1,594 1,605 1,620 1,631 1,646 AMBUJACEM 256 259 262 265 268 ASIANPAINT 789 799 816 826 843 AXISBANK 533 541 554 562 575 2,140 2,161 2,192 2,212 2,243 BANKBARODA 177 180 183 185 189 BHARTIARTL 342 345 348 350 354 BHEL 267 270 273 276 280 BPCL 723 731 743 751 762 CAIRN 246 248 250 251 253 CIPLA 655 662 673 680 692 COALINDIA 380 382 384 387 389 DLF 141 144 148 151 155 3,331 3,360 3,392 3,422 3,454 BAJAJ-AUTO DRREDDY GAIL 386 393 401 409 417 GRASIM 3,569 3,632 3,716 3,779 3,863 HCLTECH 1,916 1,944 1,986 2,013 2,055 HDFC 1,287 1,299 1,319 1,331 1,351 HDFCBANK 1,051 1,059 1,070 1,079 1,090 HEROMOTOCO 2,613 2,630 2,647 2,664 2,680 HINDALCO 149 152 157 160 165 HINDUNILVR 864 875 894 906 925 ICICIBANK 323 326 330 333 338 IDFC 164 166 168 170 173 INDUSINDBK 847 857 868 878 889 2,213 2,239 2,274 2,301 2,335 ITC 383 387 393 396 402 JINDALSTEL 183 187 191 195 198 KOTAKBANK 1,292 1,304 1,320 1,332 1,347 LT 1,660 1,674 1,693 1,706 1,725 LUPIN 1,549 1,599 1,651 1,701 1,753 M&M 1,235 1,248 1,261 1,274 1,288 MARUTI 3,509 3,528 3,551 3,570 3,593 NMDC 133 135 139 141 145 NTPC 143 145 146 147 148 ONGC 318 321 327 331 337 PNB 159 161 165 167 171 POWERGRID 150 153 155 158 160 RELIANCE 829 840 858 870 888 SBIN 288 292 299 303 309 SSLT 214 217 221 224 228 SUNPHARMA 893 901 912 920 932 TATAMOTORS 565 569 577 582 589 82 84 86 87 89 358 363 370 375 382 TCS 2,646 2,671 2,697 2,722 2,748 TECHM 2,715 2,747 2,794 2,826 2,874 ULTRACEMCO 2,924 2,951 2,997 3,024 3,070 WIPRO 636 643 650 657 665 ZEEL 331 338 350 356 368 INFY TATAPOWER TATASTEEL 212/4B, Ramani Srinivasan IInd street, Venkateswara Nagar, New Perungalathur, Chennai 600063. Ph: +919444119602 3 EQLine Research and Services Pvt Ltd Daily Technical Report Research Team Con No: 9444119602 February 24, 2015 E-mail: [email protected] Website: www.eqinfotech.com Disclaimer The information herein, together with all estimates and forecasts, can change without notice. This report does not purport to be a complete solicitation of offers to buy or sell any securities. Visitors to the site are advised to consult experts or study prospectus and other legal offer documents issued by companies before taking any decisions based on information provided in the site. Neither http://www.eqinfotech.com or EQLine nor its Directors or Analysts or Employees accept any liability whatsoever nor do they accept responsibility for any financial consequences arising from the use of the research or information provided herein. EQLINE RESEARCH 212/4B, Ramani Srinivasan IInd street, Venkateswara Nagar, New Perungalathur, Chennai 600063. Ph: +919444119602 4